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Analysis Report
May 1, 2026
Re-run recommended — fundamentals and price action have likely diverged from this snapshot.
Healthcare · Biotechnology
Price
$108.12
Market Cap
$8.9B
Employees
208
Beta
2.03
Avg Volume
686,495
CEO
Nello Mainolfi
Business Description
Kymera Therapeutics, Inc. is a biopharmaceutical company dedicated to discovering and developing pioneering small molecule therapeutics. These treatments operate by harnessing the body's inherent protein degradation system to selectively eliminate disease-causing proteins. The company's pipeline features several programs, including the IRAK4 program, currently in Phase I clinical trials, which targets various immunology-inflammation disorders such as hidradenitis suppurativa, atopic dermatitis, macrophage activation syndrome, generalized pustular psoriasis, and rheumatoid arthritis. Additionally, Kymera is advancing its IRAKIMiD program, designed to address MYD88-mutated diffuse large B cell lymphoma. Other key programs include the STAT3 program, focused on hematological malignancies, solid tumors, autoimmune diseases, and fibrosis, as well as the MDM2 program, which is also aimed at hematological malignancies and solid tumors. The company was founded in 2015 and maintains its headquarters in Watertown, Massachusetts.
Business History
Generated: May 1, 2026 5:07pmPrice History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-29.30
Stock Price: $108.12
EPS (Diluted): -3.69
EPS (Diluted): -3.69
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
4.16
Stock Price: $108.12
Total Equity: $1.58B
Shares: 84,390,243
Total Equity: $1.58B
Shares: 84,390,243
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-20.76
Market Cap: $8.89B
Total Debt: $13.76M
Cash: $357.01M
EBITDA: -$303.06M
Total Debt: $13.76M
Cash: $357.01M
EBITDA: -$303.06M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$6.3B
Market Cap: $8.89B
Total Debt: $13.76M
Cash: $357.01M
Total Debt: $13.76M
Cash: $357.01M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
167.51
Stock Price: $108.12
Revenue: $39.20M
Shares: 84,390,243
Revenue: $39.20M
Shares: 84,390,243
EV/Sales (Total value vs revenue — works when P/E can't)
API160.50
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
100.0%
Gross Profit: $39.20M
Revenue: $39.20M
Revenue: $39.20M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-891.3%
Operating Income: -$349.40M
Revenue: $39.20M
Revenue: $39.20M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-794.4%
Net Income: -$311.40M
Revenue: $39.20M
Revenue: $39.20M
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
-19.7%
Net Income: -$311.40M
Total Equity: $1.58B
Total Equity: $1.58B
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
-28.3%
Operating Income: -$349.40M
Tax Rate: 0.0%
Equity: $1.58B
Total Debt: $13.76M
Cash: $357.01M
Tax Rate: 0.0%
Equity: $1.58B
Total Debt: $13.76M
Cash: $357.01M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
10.47
Current Assets: $871.21M
Current Liabilities: $83.21M
Current Liabilities: $83.21M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.01
Short-Term Debt: $13.76M
Long-Term Debt: $0.00
Total Debt: $13.76M
Total Equity: $1.58B
Long-Term Debt: $0.00
Total Debt: $13.76M
Total Equity: $1.58B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$0.46
Revenue: $39.20M
Shares: 84,390,243
Shares: 84,390,243
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$18.72
Total Equity: $1.58B
Shares: 84,390,243
Shares: 84,390,243
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-2.78
Operating CF: -$232.89M
CapEx: -$1.45M
Shares: 84,390,243
CapEx: -$1.45M
Shares: 84,390,243
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $108.12
Stock Price: $108.12
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$311.40M
Net Income: -$311.40M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares KYMR against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Last run: May 1, 2026 5:10:44 pm
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
Not applicable for Pre Profit Growth companies
4b
Earnings Power Value
— Floor value — worth with zero growth
Not applicable for Pre Profit Growth companies
4c
Anchored PE
— Industry PE adjusted for growth differential
Not applicable for Pre Profit Growth companies
4d
Reverse DCF
— What growth is the market pricing in?
Not applicable for Pre Profit Growth companies
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
Not applicable for Pre Profit Growth companies
4i
Book Value Analysis
— For deep value / turnaround stocks only
Not applicable for Pre Profit Growth companies
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
Not applicable for Pre Profit Growth companies
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 3:02am (6d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $72.8M | $46.8M | $78.6M | $47.1M | $39.2M |
| Cost of Revenue | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | $72.8M | $46.8M | $78.6M | $47.1M | $39.2M |
| Operating Expenses | $173.4M | $208.1M | $244.1M | $308.7M | $388.6M |
| Operating Income | -$100.5M | -$161.3M | -$165.5M | -$261.6M | -$349.4M |
| Net Income | -$100.2M | -$154.8M | -$147.0M | -$223.9M | -$311.4M |
| EBITDA | -$97.6M | -$151.7M | -$143.2M | -$216.2M | -$303.1M |
| EPS | $-2.09 | $-2.87 | $-2.52 | $-2.98 | $-3.69 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 3:03am (6d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $48.0M | $68.4M | $110.0M | $120.3M | $357.0M |
| Total Current Assets | $451.3M | $419.4M | $405.3M | $510.3M | $871.2M |
| Total Assets | $605.9M | $603.1M | $575.8M | $978.0M | $1.7B |
| Current Liabilities | $92.5M | $71.3M | $85.7M | $67.8M | $83.2M |
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $146.3M | $113.0M | $180.8M | $142.4M | $163.1M |
| Total Equity | $459.6M | $490.2M | $395.0M | $835.6M | $1.6B |
| Retained Earnings | -$229.0M | -$383.8M | -$530.8M | -$754.6M | -$1.1B |
Cash Flow (Annual)
Last updated: Jun 21, 2026 3:03am (6d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$128.9M | -$153.1M | -$102.8M | -$194.5M | -$232.9M |
| Capital Expenditure | -$1.6M | -$2.8M | -$34.5M | -$12.8M | -$1.4M |
| Free Cash Flow | -$130.5M | -$155.9M | -$137.3M | -$207.3M | -$234.3M |
| Acquisitions (net) | $5.8M | -$20.5M | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $21.5M | $20.4M | $41.3M | $10.3M | $236.8M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 12:09am (8h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$43.1M $13.1M – $56.8M
|
$41.2M $40.0M – $42.5M
|
$51.7M $10.3M – $81.4M
|
$228.0M $45.5M – $358.8M
|
| EBITDA |
-$43.1M -$56.8M – -$13.1M
|
-$41.2M -$42.5M – -$40.0M
|
-$51.7M -$81.4M – -$10.3M
|
-$228.0M -$358.8M – -$45.5M
|
| Net Income |
-$353.8M -$431.0M – -$276.7M
|
-$470.6M -$653.1M – -$286.6M
|
-$400.9M -$699.8M – $16.3M
|
-$305.0M -$532.5M – $12.4M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 3:02am (6d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | -35.7% | +67.8% | -40.1% | -16.7% |
| Gross Profit Growth | -35.7% | +67.8% | -40.1% | -16.7% |
| Operating Income Growth | -60.4% | -2.7% | -58.1% | -33.5% |
| Net Income Growth | -54.5% | +5.1% | -52.3% | -39.1% |
| EBITDA Growth | -55.3% | +5.6% | -51.0% | -40.2% |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for KYMR — it's generated by the pipeline (
market-narrative step).
No community reviews yet for KYMR.
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30