Kamada Ltd Financials

KMDA

FY2025 annual

Revenue $180.5M +12.1% YoY

Net Income $20.2M +39.7% YoY

EPS (Diluted) Not reported for FY2025

Free Cash Flow Not reported for FY2025

Source SEC Filings (10-K/10-Q) Data as of Dec 31, 2025 Currency USD FYE December

Kamada Ltd (KMDA) reported $180.5M in revenue for fiscal year 2025, up 12.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI KMDA FY2025 2026-08-15

Profitability is rising, but inventory-heavy working capital is still the main brake on how smoothly earnings become cash.

By FY2025, net income had more than doubled from FY2023 to $20.2M, but operating cash flow was only $25.5M, well below the prior year's cash surge. With inventory still at $84.9M and long-term debt just $9.4M, the company appears to absorb that working-capital drag from its own balance sheet rather than from borrowing.

The balance-sheet posture is conservative for a business that only recently moved into sustained profitability: cash of $75.5M and a current ratio of 4.1x sit against just $9.4M of long-term debt. That gives management flexibility to keep a large stock of current assets without leaning heavily on lenders, and recent profits are strengthening equity rather than patching a debt problem.

FY2025's return on assets of 5.3% and return on equity of 7.5% show the asset base is producing positive returns again after earlier loss years. Yet retained earnings were still -$17.1M, which means the last three profitable years are still repairing an older deficit instead of adding to a long-built earnings cushion.

Financial Health Signals

Financial health score not available

Kamada Ltd does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

7/8

Kamada Ltd passes 7 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.26x

For every $1 of reported earnings, Kamada Ltd generates $1.26 in operating cash flow ($25.5M OCF vs $20.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$180.5M

YoY+12.1%

5Y CAGR+6.3%

10Y CAGR+9.9%

Kamada Ltd generated $180.5M in revenue in fiscal year 2025. This represents an increase of 12.1% from the prior year.

Net Income

$20.2M

YoY+39.7%

5Y CAGR+3.3%

Kamada Ltd reported $20.2M in net income in fiscal year 2025. This represents an increase of 39.7% from the prior year.

EBITDA

Not reported for fiscal year 2025.

EPS (Diluted)

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt

$75.5M

YoY-3.8%

5Y CAGR+1.5%

10Y CAGR+31.1%

Kamada Ltd held $75.5M in cash against $9.4M in long-term debt as of fiscal year 2025.

Shares Outstanding

58M

YoY+0.3%

5Y CAGR+5.2%

Kamada Ltd had 58M shares outstanding in fiscal year 2025. This represents an increase of 0.3% from the prior year.

Free Cash Flow

Not reported for fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Net Margin

11.2%

YoY+2.2pp

5Y CAGR-1.7pp

10Y CAGR+27.3pp

Kamada Ltd's net profit margin was 11.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.2 percentage points from the prior year.

Return on Equity

7.5%

YoY+1.9pp

5Y CAGR-2.1pp

10Y CAGR+23.1pp

Kamada Ltd's ROE was 7.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.9 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

None of these metrics is reported for fiscal year 2025.

KMDA Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

KMDA annual income statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
Revenue	$180.5M+12.1%	$161.0M+12.9%	$142.5M+10.2%	$129.3M+24.8%	$103.6M-22.2%	$133.2M+4.8%	$127.2M+11.1%	$114.5M+11.3%	$102.8M+32.7%	$77.5M+10.9%	$69.9M
Interest Expense	N/A	$21.1M+28.8%	$16.4M+377.2%	$3.4M+1260.1%	$253K+33.2%	$190K-3.6%	$197K-81.8%	$1.1M+494.9%	-$274K-158.3%	$470K+205.2%	$154K
Income Tax	$3.3M+389.8%	-$1.1M-877.9%	$145K+133.9%	$62K-82.0%	$345K-75.8%	$1.4M+95.2%	$730K+137.3%	-$2.0M-826.8%	$269K-84.4%	$1.7M	N/A
Net Income	$20.2M+39.7%	$14.5M+74.6%	$8.3M+456.9%	-$2.3M-4.1%	-$2.2M-113.0%	$17.1M-23.0%	$22.3M-0.2%	$22.3M+223.1%	$6.9M+202.5%	-$6.7M+40.3%	-$11.3M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$44.7M-5.0%	$47.0M+5.0%	$44.8M+1.7%	$44.0M+12.9%	$39.0M-6.6%	$41.7M-1.7%	$42.5M+12.6%	$37.7M
Income Tax	$1.2M+9.4%	$1.1M+166.0%	-$1.6M-161.3%	$2.6M+296.4%	-$1.3M-1706.0%	$84K+33.3%	$63K-14.9%	$74K
Net Income	$3.6M-32.7%	$5.3M-28.2%	$7.4M+86.1%	$4.0M+4.1%	$3.8M-1.4%	$3.9M-12.7%	$4.4M+87.1%	$2.4M

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EPS (Diluted).

KMDA Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

KMDA annual balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
Total Assets	$378.7M+1.7%	$372.3M+4.9%	$354.9M+10.1%	$322.4M+1.2%	$318.7M+51.3%	$210.7M+21.2%	$173.8M+25.8%	$138.1M+13.1%	$122.1M+22.5%	$99.7M	N/A
Current Assets	$193.1M+4.7%	$184.3M+8.5%	$170.0M+22.3%	$139.0M+6.9%	$130.0M-26.9%	$177.9M+23.9%	$143.6M+29.5%	$110.9M+14.5%	$96.9M+25.7%	$77.1M	N/A
Cash & Equivalents	$75.5M-3.8%	$78.4M+41.0%	$55.6M+62.4%	$34.3M+84.3%	$18.6M-73.5%	$70.2M+64.5%	$42.7M+135.8%	$18.1M+42.7%	$12.7M+27.2%	$10.0M+97.5%	$5.0M
Inventory	$84.9M+7.8%	$78.8M-10.9%	$88.5M+28.6%	$68.8M+2.0%	$67.4M+60.5%	$42.0M-2.7%	$43.2M+47.3%	$29.3M+39.1%	$21.1M-17.7%	$25.6M	N/A
Goodwill	$30.3M0.0%	$30.3M0.0%	$30.3M-79.4%	$147.0M+21.3%	$121.2M	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$109.6M-2.8%	$112.8M+1.7%	$110.9M-24.2%	$146.4M+3.2%	$141.8M+342.9%	$32.0M-16.8%	$38.5M+49.5%	$25.7M-21.1%	$32.6M-1.0%	$33.0M	N/A
Current Liabilities	$47.4M-4.0%	$49.4M-0.4%	$49.6M-34.5%	$75.7M+40.0%	$54.1M+116.5%	$25.0M-23.7%	$32.7M+38.9%	$23.6M-19.8%	$29.4M+8.1%	$27.2M	N/A
Long-Term Debt	$9.4M+0.1%	$9.4M+26.8%	$7.4M	N/A	$3.8M	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$269.1M+3.7%	$259.5M+6.3%	$244.0M+38.6%	$176.0M-0.5%	$176.8M-1.0%	$178.6M+32.0%	$135.3M+20.4%	$112.4M+25.6%	$89.5M+34.1%	$66.7M-7.9%	$72.5M
Retained Earnings	-$17.1M+33.7%	-$25.7M+36.0%	-$40.2M+17.1%	-$48.5M-5.0%	-$46.2M-5.1%	-$43.9M+28.1%	-$61.1M+26.4%	-$83.0M+20.6%	-$104.6M+6.2%	-$111.5M	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$378.7M+0.4%	$377.2M+2.5%	$368.2M-1.8%	$375.1M+0.8%	$372.3M+6.0%	$351.2M0.0%	$351.0M+2.3%	$343.2M
Current Assets	$193.1M+0.2%	$192.7M+5.2%	$183.3M-2.8%	$188.5M+2.3%	$184.3M+12.1%	$164.4M-1.2%	$166.4M+5.5%	$157.8M
Cash & Equivalents	$75.5M+4.8%	$72.0M+9.1%	$66.0M-13.5%	$76.3M-2.8%	$78.4M+8.9%	$72.0M+27.3%	$56.5M+17.3%	$48.2M
Inventory	$84.9M-0.6%	$85.4M+4.1%	$82.1M+4.7%	$78.4M-0.6%	$78.8M+10.1%	$71.6M-9.1%	$78.7M-6.7%	$84.3M
Goodwill	$30.3M0.0%	$30.3M0.0%	$30.3M0.0%	$30.3M0.0%	$30.3M0.0%	$30.3M0.0%	$30.3M0.0%	$30.3M
Total Liabilities	$109.6M-2.1%	$112.0M+3.5%	$108.2M-12.1%	$123.1M+9.2%	$112.8M+17.6%	$95.9M-4.0%	$99.9M+8.5%	$92.0M
Current Liabilities	$47.4M-0.9%	$47.8M+4.5%	$45.8M-19.8%	$57.0M+15.5%	$49.4M+45.3%	$34.0M-16.9%	$40.9M+10.0%	$37.2M
Long-Term Debt	$9.4M-1.2%	$9.6M+0.1%	$9.5M+2.5%	$9.3M-1.2%	$9.4M-1.5%	$9.6M+35.5%	$7.1M-2.9%	$7.3M
Total Equity	$269.1M+1.4%	$265.2M+2.0%	$260.0M+3.2%	$252.0M-2.9%	$259.5M+1.6%	$255.3M+1.6%	$251.2M0.0%	$251.2M
Retained Earnings	-$17.1M+17.3%	-$20.6M+20.4%	-$25.9M+22.1%	-$33.3M-29.4%	-$25.7M+12.9%	-$29.5M+11.6%	-$33.4M+11.7%	-$37.8M

Not reported in any period shown, so not listed: Accounts Receivable.

KMDA Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

KMDA annual cash flow statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
Operating Cash Flow	$25.5M-46.4%	$47.6M+1003.0%	$4.3M-84.9%	$28.6M+424.1%	-$8.8M-146.2%	$19.1M-30.7%	$27.6M+161.4%	$10.5M+192.3%	$3.6M+90.2%	$1.9M+113.6%	-$14.0M
Investing Cash Flow	-$9.8M+8.4%	-$10.7M-83.8%	-$5.8M-54.4%	-$3.8M+93.8%	-$61.0M-365.1%	-$13.1M-2227.5%	-$564K+89.1%	-$5.2M+66.8%	-$15.6M-1053.5%	$1.6M-85.5%	$11.3M
Financing Cash Flow	-$18.3M-31.9%	-$13.9M-161.3%	$22.7M+342.7%	-$9.3M-150.3%	$18.6M-20.4%	$23.4M+1627.1%	-$1.5M-160.6%	-$587K-103.8%	$15.3M+928.2%	$1.5M+123.4%	-$6.4M
Dividends Paid	$11.5M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$7.6M-27.4%	$10.4M+29.9%	$8.0M+1663.5%	-$513K-104.9%	$10.4M-53.2%	$22.2M+59.1%	$14.0M+1268.9%	$1.0M
Investing Cash Flow	-$2.8M+22.7%	-$3.6M-78.2%	-$2.0M-37.9%	-$1.5M+50.1%	-$2.9M-37.7%	-$2.1M+29.4%	-$3.0M-12.2%	-$2.7M
Financing Cash Flow	-$1.2M-56.4%	-$754K+95.3%	-$16.1M-5401.4%	-$293K+58.6%	-$708K+85.2%	-$4.8M-78.7%	-$2.7M+53.3%	-$5.7M
Dividends Paid	$0	$0-100.0%	$11.5M	N/A	N/A	N/A	N/A	N/A

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.

KMDA Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

KMDA annual financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15
Net Margin	11.2%+2.2pp	9.0%+3.2pp	5.8%+7.6pp	-1.8%+0.4pp	-2.1%-15.0pp	12.9%-4.6pp	17.5%-2.0pp	19.5%+12.8pp	6.7%+15.4pp	-8.7%+7.4pp	-16.1%
Return on Equity	7.5%+1.9pp	5.6%+2.2pp	3.4%+4.7pp	-1.3%-0.1pp	-1.3%-10.8pp	9.6%-6.8pp	16.4%-3.4pp	19.8%+12.1pp	7.7%+17.8pp	-10.1%+5.5pp	-15.5%
Return on Assets	5.3%+1.4pp	3.9%+1.6pp	2.3%+3.0pp	-0.7%0.0pp	-0.7%-8.8pp	8.1%-4.7pp	12.8%-3.3pp	16.1%+10.5pp	5.7%+12.4pp	-6.8%	N/A
Current Ratio	4.07+0.3x	3.73+0.3x	3.43+1.6x	1.84-0.6x	2.41-4.7x	7.13+2.7x	4.38-0.3x	4.70+1.4x	3.30+0.5x	2.83	N/A
Debt-to-Equity	0.040.0x	0.040.0x	0.03-0.8x	0.83+0.8x	0.02-0.2x	0.18-0.1x	0.28+0.1x	0.23-0.1x	0.36-0.1x	0.49	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Net Margin	8.0%-3.3pp	11.3%-5.2pp	16.5%+7.5pp	9.0%-0.8pp	9.8%+0.5pp	9.3%-1.2pp	10.4%+4.1pp	6.3%
Return on Equity	1.3%-0.7pp	2.0%-0.8pp	2.8%+1.3pp	1.6%+0.1pp	1.5%0.0pp	1.5%-0.3pp	1.8%+0.8pp	0.9%
Return on Assets	0.9%-0.5pp	1.4%-0.6pp	2.0%+0.9pp	1.1%0.0pp	1.0%-0.1pp	1.1%-0.2pp	1.3%+0.6pp	0.7%
Current Ratio	4.070.0x	4.030.0x	4.00+0.7x	3.30-0.4x	3.73-1.1x	4.84+0.8x	4.07-0.2x	4.25
Debt-to-Equity	0.040.0x	0.040.0x	0.040.0x	0.040.0x	0.040.0x	0.040.0x	0.030.0x	0.03

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, FCF Margin.

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Where Kamada Ltd Ranks

Frequently Asked Questions

What is Kamada Ltd's annual revenue?

Kamada Ltd (KMDA) reported $180.5M in total revenue for fiscal year 2025. This represents a 12.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Kamada Ltd's revenue growing?

Kamada Ltd (KMDA) revenue grew by 12.1% year-over-year, from $161.0M to $180.5M in fiscal year 2025.

Is Kamada Ltd profitable?

Yes, Kamada Ltd (KMDA) reported a net income of $20.2M in fiscal year 2025, with a net profit margin of 11.2%.

How much debt does Kamada Ltd have?

As of fiscal year 2025, Kamada Ltd (KMDA) had $75.5M in cash and equivalents against $9.4M in long-term debt.

What is Kamada Ltd's net profit margin?

Kamada Ltd (KMDA) had a net profit margin of 11.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Kamada Ltd's return on equity (ROE)?

Kamada Ltd (KMDA) has a return on equity of 7.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Kamada Ltd's operating cash flow?

Kamada Ltd (KMDA) generated $25.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Kamada Ltd's total assets?

Kamada Ltd (KMDA) had $378.7M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Kamada Ltd have outstanding?

Kamada Ltd (KMDA) had 58M shares outstanding as of fiscal year 2025.

What is Kamada Ltd's current ratio?

Kamada Ltd (KMDA) had a current ratio of 4.07 as of fiscal year 2025, which is generally considered healthy.

What is Kamada Ltd's debt-to-equity ratio?

Kamada Ltd (KMDA) had a debt-to-equity ratio of 0.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Kamada Ltd's return on assets (ROA)?

Kamada Ltd (KMDA) had a return on assets of 5.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Kamada Ltd's Piotroski F-Score?

Kamada Ltd (KMDA) has a Piotroski F-Score of 7 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Kamada Ltd's earnings high quality?

Kamada Ltd (KMDA) has an earnings quality ratio of 1.26x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.