Quality Investor

Kiniksa Pharmaceuticals International, plc

Rank #28Hypergrowth

KNSA · Nasdaq · Healthcare

Kiniksa Pharmaceuticals International, plc (KNSA) — Rank #28 by gross profitability (GP/assets 0.73) · ROE 9.7% · Piotroski F-Score 7 / 9.

As-of 2026-09-15 · CIK 0001730430 · all metrics point-in-time as of the filing date.

About

Kiniksa Pharmaceuticals International, plc, a biopharmaceutical company, develops and commercializes medical therapies in the United States, the United Kingdom, and internationally.

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The company offers ARCALYST, an interleukin-1alpha and 1beta cytokine trap for the treatment of recurrent pericarditis, a chronic autoinflammatory cardiovascular disease and cardiac sarcoidosis. It also develops KPL-387, an investigational and fully human immunoglobulin G2 monoclonal antibody, which is Phase 2/3 clinical trial for the treatment of recurrent pericarditis; and KPL-116, a Fc-modified immunoglobulin G2 monoclonal antibody, which is in pre-clinical stage. The company was formerly known as Kiniksa Pharmaceuticals, Ltd. and changed its name to Kiniksa Pharmaceuticals International, plc in June 2024.

Kiniksa Pharmaceuticals International, plc was incorporated in 2015 and is based in London, the United Kingdom.

Industry
Drug Manufacturers - Specialty & Generic
Sector
Healthcare
Filer Category
Large accelerated filer
Fiscal Year End
December 31

Price History

KNSA+519.1% · +44.0% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/S is the primary valuation lens — earnings are reinvested, not available for P/E.

Market Cap

$5.77B

P/E (annual)

100.0

P/S (annual)

8.5

P/B

9.5

P/OCF (annual)

41.8

Shareholder Yield

-10.6%

Employees

366

Industry

Drug Manufacturers - Specialty & Generic

Exchange

Nasdaq

Signal Flags

2 green1 yellow
Revenue growth acceleratingGrowth rate increasing year over year
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 1-quarter streak
Dilution above 2%Annual share count increase exceeds 2%. May be acceptable for high-growth companies funding talent via stock compensation

Quality Profile

Profitability

1/1 pass
GP / assets
0.73
Return on equity
9.7%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.36
Current ratio
3.79×
Net cash
$468.09M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
5.5%

Growth

1/2 pass
Revenue growth
60.1%
Piotroski F-Score
7 / 9
Share dilution
10.6%

Terry Smith quality gate

Passes 2/5 Terry Smith thresholds

1 of 5 threshold not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

18.3%

fairly valued

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Dilution drag: 10.6% — per-share value needs a total required return of 28.8% once share-count change is priced in.

vs. own 6-year median revenue growth: 56.6%

within its own history

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

13.4%

r = 10% (base)

18.3%

r = 12%

22.5%

Net debt / market cap: -7.9%

Base FCF: $136.4M3Y mean FCF: $62.4M

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / E

Price / diluted EPS

58.0xFair
7.6xmed 58.0x98.6x

P / S

Price / revenue per share

5.1xCheap
3.3xmed 5.2x18.6x

P / B

Price / book value per share

6.1xExpensive
3.2xmed 3.5x6.1x

P / GP

Price / gross profit per share

5.7xCheap
3.9xmed 6.0x24.4x

P / FCF

Price / free cash flow per share

25.2xCheap
25.2xmed 81.6x243.5x

Revenue growth and the path to profitability (margin trend) are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.73

Primary signal (Novy-Marx).

3rd of 9 SIC 2834 peers

Return on equity

9.7%

Gross margin

88.5%

2nd of 9 SIC 2834 peers

Revenue growth (YoY)

60.1%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

45.5%

Revenue CAGR (5Y)

Earnings CAGR (3Y)

-31.5%

FCF CAGR (3Y)

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.36

2nd of 9 SIC 2834 peers (best = lowest)

Current ratio

3.79×

3rd of 9 SIC 2834 peers

Quick ratio

3.14×

Net cash

$468.09M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$136.42M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

1.31

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

5.5%

Stock-based comp intensity.

Piotroski F-Score

F-Score

7 / 9

Fundamental-strength score (0-9).

Lifecycle Phase History

20212025
Startup
Hypergrowth