Krystal Biotech, Inc. KRYS

Competitive advantage analysis · healthcare

Corporate Default
Overall moat score
79/100
Strong

About Krystal Biotech, Inc.

Krystal Biotech, Inc., a commercial-stage biotechnology company, discovers, develops, manufactures, and commercializes genetic medicines to treat diseases with high unmet medical needs in the United States. The company commercializes VYJUVEK (beremagene geperpavec-svdt, or B-VEC) for the treatment of dystrophic epidermolysis bullosa (DEB). It also develops KB803 for ocular complications of dystrophic epidermolysis bullosa; KB801 for neurotrophic keratitis; KB407, which is … Full KRYS analysis →

Competitive advantage assessment

Key strengths

  • Margins Stable Across Cycles Operating margin volatility is low (stability score 0.80), demonstrating pricing resilience across cycles.
  • ROIC Sustainably Above Peers ROIC at 85.0th percentile exceeds peers and WACC, demonstrating superior capital allocation.

Key risks

  • Revenue Volatility Signals Weak Stickiness Revenue volatility is high (stability score 0.30), suggesting weak customer stickiness.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Strong
77

Where KRYS ranks in Biotechnology

Krystal Biotech, Inc. ranks #11 of 713 scored companies in Biotechnology by moat score — the top 2%. The widest moat in the group is Royalty Pharma plc (RPRX) at 85/100.

Moat scores for companies ranked near KRYS in Biotechnology
# Company Moat score Rating
7 Innoviva, Inc. INVA 82/100 Strong
8 Vertex Pharmaceuticals Incorpor VRTX 81/100 Strong
9 Harmony Biosciences Holdings, I HRMY 80/100 Strong
10 Third Harmonic Bio, Inc. THRD 80/100 Strong
11 Krystal Biotech, Inc. KRYS 79/100 Strong
12 Galapagos NV GLPG 79/100 Strong
13 Corcept Therapeutics Incorporat CORT 78/100 Strong
14 Regeneron Pharmaceuticals, Inc. REGN 78/100 Strong
15 Bio-Techne Corp TECH 78/100 Strong

See every Biotech / Pre-Revenue company ranked by moat score →

How KRYS scores on the Corporate Default defenses

Pricing Power

Score 77 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 91 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 71 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 83 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 80 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 74 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding KRYS's moat

What is Krystal Biotech, Inc.'s moat score?

Krystal Biotech, Inc. (KRYS) scores 79 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as strong. It ranks #11 of 713 scored companies in Biotechnology, the top 2%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 712 companies in Biotechnology. Its strongest defense is Cost Advantage (91/100) and its weakest is Customer Stickiness (71/100).

How does Krystal Biotech, Inc. compare with other Biotechnology companies?

Krystal Biotech, Inc. ranks #11 of 713 scored companies in Biotechnology by moat score. The widest moat in Biotechnology is Royalty Pharma plc (RPRX) at 85/100. The companies ranked closest are Third Harmonic Bio, Inc. (THRD) at 80 just above it and Galapagos NV (GLPG) at 79 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 712 companies in Biotechnology. The defenses are then weighted to produce the overall score out of 100.

Why is Krystal Biotech, Inc. scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Krystal Biotech, Inc.?

The Corporate Default template measures 6 defenses, and KRYS scores: Pricing Power (77), Cost Advantage (91), Customer Stickiness (71), Capital Efficiency (83), Resilience (80), Scale & Market Position (74). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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