Krystal Biotech, Inc. (KRYS) Balance Sheet
KRYS balance sheet, 2025
December 31, 2025 · U.S. dollars$1.33B assets = $114.2M liabilities + $1.22B equity
Both columns are drawn to the same scale: what KRYS owns equals what it owes plus shareholders’ equity. Hover a block for its value.
KRYS financial health
Descriptive bands, not a rating. Fiscal 2025.
KRYS balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.2M2016 | $1.33B2025 | +104.0%/yr | |
| Total liabilities | $1.9M2016 | $114.2M2025 | +57.7%/yr | |
| Shareholders’ equity | $289,0002016 | $1.22B2025 | +152.8%/yr | |
| Cash & short-term investments | $1.9M2016 | $827.8M2025 | +96.2%/yr | |
| Total debt | $1.8M2016 | $9.3M2025 | +19.8%/yr | |
| Net cash (debt) | $80,0002016 | $818.5M2025 | +$818.4M | |
| Working capital | $2.1M2016 | $921.7M2025 | +$919.5M | |
| Book value per share | $10.112018 | $40.722025 | +22.0%/yr | |
| Current ratio | 50.442016 | 9.952025 | −40.49 | |
| Debt / equity | 6.382016 | 0.012025 | −6.37 | |
| Shares outstanding | 11.2M2018 | 30.0M2025 | +15.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
KRYS assets
KRYS liabilities and equity
KRYS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
KRYS balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $827.8M | $597.5M | $532.2M | $379.2M | $438.1M | $271.3M | $193.7M | $111.8M | $49.6M | $1.9M |
| Cash & equivalents | $496.3M | $344.9M | $358.3M | $161.9M | $341.2M | $268.3M | $187.5M | $103.7M | $49.6M | $1.9M |
| Short-term investments | $331.5M | $252.7M | $173.8M | $217.3M | $96.8M | $3.0M | $6.2M | $8.1M | $0 | — |
| Receivables | $127.4M | $104.7M | $42.0M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $40.5M | $26.5M | $7.0M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $28.9M | $13.3M | $6.7M | $4.6M | $4.2M | $3.8M | $2.2M | $889,000 | $323,000 | $246,000 |
| Total current assets | $1.02B | $742.0M | $587.9M | $383.8M | $442.3M | $275.1M | $195.9M | $112.7M | $49.9M | $2.2M |
| Property, plant & equipment (net) | $158.0M | $161.4M | $168.2M | $169.7M | $119.6M | $34.2M | $11.2M | $3.0M | $200,000 | $13,000 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $128.1M | $152.1M | $62.0M | $4.6M | $64.4M | $0 | $497,000 | $0 | $0 | $0 |
| Other non-current assets | $23.1M | $231,000 | $263,000 | $324,000 | $74,000 | $1.6M | $1.5M | $452,000 | $0 | $0 |
| Total assets | $1.33B | $1.06B | $818.4M | $558.5M | $626.3M | $310.8M | $209.0M | $116.1M | $50.1M | $2.2M |
| Liabilities | ||||||||||
| Accounts payable | $3.2M | $5.0M | $1.8M | $4.0M | $8.4M | $2.1M | $1.0M | $888,000 | $193,000 | $42,000 |
| Short-term debt | $1.8M | $1.2M | $1.5M | $1.6M | $1.0M | $8.2M | $480,000 | — | — | $0 |
| Deferred revenue | — | — | −$2.3M | — | $16.2M | $5.1M | $2.1M | — | — | — |
| Total current liabilities | $102.9M | $102.0M | $33.1M | $28.8M | $25.7M | $15.5M | $3.3M | $2.6M | $640,000 | $43,000 |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.8M |
| Lease obligations | $9.3M | $7.3M | $8.1M | $8.9M | $8.0M | $11.5M | $3.3M | — | — | — |
| Other long-term liabilities | $11.3M | $7.5M | $6.6M | $7.4M | $7.0M | $3.3M | $2.8M | $294,000 | $0 | $7,000 |
| Total liabilities | $114.2M | $109.5M | $39.7M | $36.2M | $32.7M | $18.8M | $6.1M | $2.9M | $640,000 | $1.9M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | — | — | — | — | — | — | — | −$116.1M | −$50.1M | — |
| Retained earnings (deficit) | $24.2M | −$180.7M | −$269.8M | −$280.8M | −$140.8M | −$71.2M | −$39.0M | −$20.0M | −$9.1M | −$1.1M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | — |
| Accumulated other comprehensive income | $1.1M | −$190,000 | $638,000 | −$728,000 | −$163,000 | $6,000 | $10,000 | $2,000 | −$25,000 | −$2,000 |
| Minority interest | — | — | — | — | — | — | — | — | $0 | — |
| Total shareholders' equity | $1.22B | $946.4M | $778.6M | $522.2M | $593.6M | $292.1M | $202.9M | $113.2M | $49.5M | $289,000 |
| Key figures | ||||||||||
| Total debt | $9.3M | $7.3M | $8.1M | $8.9M | $8.0M | $11.5M | $3.3M | — | — | $1.8M |
| Net cash (debt) | $818.5M | $590.3M | $524.1M | $370.2M | $430.1M | $259.7M | $190.4M | — | — | $80,000 |
| Working capital | $921.7M | $640.0M | $554.8M | $354.9M | $416.5M | $259.6M | $192.6M | $110.1M | $49.3M | $2.1M |
| Tangible book value | $1.22B | $946.4M | $778.6M | $522.2M | $593.6M | $292.1M | $202.9M | $113.2M | $49.5M | $289,000 |
| Book value per share | $40.72 | $31.82 | $28.06 | $20.49 | $26.74 | $15.55 | $12.76 | $10.11 | — | — |
| Shares outstanding | 30.0M | 29.7M | 27.8M | 25.5M | 22.2M | 18.8M | 15.9M | 11.2M | — | — |
| Current ratio | 9.95 | 7.28 | 17.76 | 13.30 | 17.18 | 17.80 | 58.88 | 43.39 | 77.99 | 50.44 |
| Quick ratio | 9.28 | 6.89 | 17.35 | 13.14 | 17.02 | 17.56 | 58.22 | 43.05 | 77.49 | 44.72 |
| Debt / equity | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 | 0.04 | 0.02 | — | — | 6.38 |
| Equity / assets | 91.4% | 89.6% | 95.1% | 93.5% | 94.8% | 94.0% | 97.1% | 97.5% | 98.7% | 13.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $845.6M | $823.4M | $827.8M | $731.1M | $682.0M | $616.8M | $597.5M | $588.3M | $559.6M | $538.3M | $532.2M | $562.1M |
| Cash & equivalents | $427.7M | $501.3M | $496.3M | $392.6M | $353.8M | $308.8M | $344.9M | $374.0M | $345.8M | $359.0M | $358.3M | $373.2M |
| Short-term investments | $417.9M | $322.1M | $331.5M | $338.5M | $328.2M | $308.1M | $252.7M | $214.4M | $213.8M | $179.3M | $173.8M | $188.8M |
| Receivables | $138.7M | $127.0M | $127.4M | $129.6M | $111.4M | $103.3M | $104.7M | $97.3M | $103.2M | $46.5M | $42.0M | $9.3M |
| Inventory | $45.6M | $42.6M | $40.5M | $37.6M | $31.0M | $29.9M | $26.5M | $18.6M | $12.2M | $11.0M | $7.0M | $5.3M |
| Other current assets | $29.8M | $26.7M | $28.9M | $27.3M | $16.9M | $16.8M | $13.3M | $9.0M | $7.7M | $6.5M | $6.7M | $5.5M |
| Total current assets | $1.06B | $1.02B | $1.02B | $925.6M | $841.3M | $766.8M | $742.0M | $713.2M | $682.8M | $602.2M | $587.9M | $582.1M |
| Property, plant & equipment (net) | $160.6M | $160.6M | $158.0M | $156.3M | $158.0M | $158.9M | $161.4M | $163.1M | $165.5M | $166.9M | $168.2M | $171.4M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $257.3M | $193.5M | $128.1M | $133.1M | $138.8M | $148.5M | $152.1M | $105.9M | $69.3M | $84.0M | $62.0M | $36.5M |
| Other non-current assets | $23.1M | $23.1M | $23.1M | $25.0M | $197,000 | $218,000 | $231,000 | $203,000 | $126,000 | $196,000 | $263,000 | $285,000 |
| Total assets | $1.50B | $1.40B | $1.33B | $1.24B | $1.14B | $1.07B | $1.06B | $982.3M | $917.7M | $853.3M | $818.4M | $790.4M |
| Liabilities | ||||||||||||
| Accounts payable | $6.5M | $4.1M | $3.2M | $2.1M | $7.1M | $2.7M | $5.0M | $5.6M | $5.4M | $5.4M | $4.1M | $4.3M |
| Short-term debt | $1.8M | $1.8M | $1.8M | $1.7M | $1.6M | $1.4M | $1.2M | $1.3M | $1.4M | $1.4M | $1.5M | $1.5M |
| Deferred revenue | $83.5M | — | — | — | — | — | — | — | — | $38.2M | $1 | $19.4M |
| Total current liabilities | $127.4M | $107.8M | $102.9M | $91.3M | $86.9M | $79.5M | $102.0M | $89.5M | $71.9M | $47.6M | $33.1M | $27.6M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $8.9M | $9.1M | $9.3M | $9.5M | $9.7M | $9.7M | $7.3M | $7.5M | $7.7M | $7.9M | $8.1M | $8.3M |
| Other long-term liabilities | $14.1M | $12.4M | $11.3M | $10.9M | $10.9M | $10.3M | $7.5M | $6.9M | $6.9M | $6.5M | $6.6M | $6.8M |
| Total liabilities | $141.5M | $120.2M | $114.2M | $102.2M | $97.7M | $89.7M | $109.5M | $96.5M | $78.8M | $54.1M | $39.7M | $34.4M |
| Shareholders' equity | ||||||||||||
| Retained earnings (deficit) | $134.9M | $80.1M | $24.2M | −$27.2M | −$106.6M | −$144.9M | −$180.7M | −$226.1M | −$253.3M | −$268.9M | −$269.8M | −$278.5M |
| Accumulated other comprehensive income | −$4.3M | −$1.6M | $1.1M | $1.1M | $1.2M | $390,000 | −$190,000 | $1.5M | −$634,000 | −$299,000 | $638,000 | −$382,000 |
| Total shareholders' equity | $1.36B | $1.28B | $1.22B | $1.14B | $1.04B | $984.7M | $946.4M | $885.8M | $838.9M | $799.2M | $778.6M | $755.9M |
| Key figures | ||||||||||||
| Total debt | $8.9M | $9.1M | $9.3M | $9.5M | $9.7M | $9.7M | $7.3M | $7.5M | $7.7M | $7.9M | $8.1M | $8.3M |
| Net cash (debt) | $836.8M | $814.3M | $818.5M | $721.6M | $672.3M | $607.2M | $590.3M | $580.8M | $551.9M | $530.4M | $524.1M | $553.7M |
| Working capital | $932.3M | $911.9M | $921.7M | $834.4M | $754.5M | $687.3M | $640.0M | $623.6M | $610.9M | $554.7M | $554.8M | $554.5M |
| Tangible book value | $1.36B | $1.28B | $1.22B | $1.14B | $1.04B | $984.7M | $946.4M | $885.8M | $838.9M | $799.2M | $778.6M | $755.9M |
| Book value per share | $44.33 | $41.85 | $40.72 | $38.14 | $34.98 | $32.96 | $31.67 | $29.62 | $28.31 | $27.29 | $27.02 | $26.16 |
| Shares outstanding | 30.7M | 30.5M | 30.0M | 29.8M | 29.7M | 29.9M | 29.9M | 29.9M | 29.6M | 29.3M | 28.8M | 28.9M |
| Current ratio | 8.32 | 9.46 | 9.95 | 10.14 | 9.68 | 9.65 | 7.28 | 7.97 | 9.50 | 12.66 | 17.76 | 21.10 |
| Quick ratio | 7.73 | 8.82 | 9.28 | 9.43 | 9.13 | 9.06 | 6.89 | 7.66 | 9.23 | 12.29 | 17.35 | 20.72 |
| Debt / equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Equity / assets | 90.6% | 91.4% | 91.4% | 91.8% | 91.4% | 91.6% | 89.6% | 90.2% | 91.4% | 93.7% | 95.1% | 95.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 17, 2026); data from EODHD.
KRYS financial position
At the end of fiscal 2025 (December 31, 2025), Krystal Biotech had total assets of $1.3 billion (up 26.3% from a year earlier), total liabilities of $114.2 million and shareholders' equity of $1.2 billion. It held $827.8 million in cash and short-term investments against $9.3 million of debt, a net cash position of $818.5 million. Its current ratio was 9.95. In the latest quarter (ended June 30, 2026) total assets were $1.5 billion and equity $1.4 billion.
Related: KRYS income statement, KRYS cash flow statement, KRYS key metrics. See the KRYS stock overview for the latest quote and news.
KRYS balance sheet FAQ
What are Krystal Biotech's total assets?
Krystal Biotech reported total assets of $1.3 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.1 billion a year earlier.
How much debt does Krystal Biotech have?
Krystal Biotech had $9.3 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.01.
How much cash does Krystal Biotech have?
Krystal Biotech held $827.8 million in cash and short-term investments at the end of fiscal 2025; with $9.3 million of debt that is net cash of $818.5 million.
What is Krystal Biotech's book value?
Krystal Biotech's shareholders' equity (book value) was $1.2 billion at the end of fiscal 2025, or $40.72 per share.
What is Krystal Biotech's current ratio?
Krystal Biotech had current assets of $1.0 billion and current liabilities of $102.9 million, a current ratio of 9.95 (it can cover its short-term obligations).