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Karman Holdings Inc.(KRMN)Earnings, Financials & Key Ratios
KRMN•NYSE
$63.19
$8.36B mkt cap·657.5× P/E·Price updated May 6, 2026
AboutKarman Holdings Inc., through its subsidiary, Karman Space and Defense, engages in designing, testing, manufacturing, and sale of mission-critical systems for missile and defense, space programs, hypersonic, and launch vehicle markets. It also supplies metallic and composite flight hardware and sub-assemblies. In addition, the company provides solutions for payload protection and deployment systems, aerodynamic interstage systems, and propulsion systems. The company was incorporated in 2020 and is based in Huntington Beach, California. Karman Holdings Inc. is a subsidiary of TCFIII Spaceco SPV LP.Show more
- Revenue$345M+23.0%
- EBITDA$96M+27.3%
- Net Income$13M+191.3%
- EPS (Diluted)0.10+191.2%
- Gross Margin38.27%+1.8%
- EBITDA Margin27.91%+3.5%
- Operating Margin18.41%+6.6%
- Net Margin3.68%+136.9%
- ROE6.71%+177.2%
- ROIC7.82%+24.9%
- Debt/Equity2.29+1.9%
- Interest Coverage1.25+23.7%
KRMN Key Insights
Karman Holdings Inc. (KRMN) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Strong Piotroski F-Score: 7/9
- ✓High quality earnings: Operating CF exceeds net income
✗Weaknesses
- ✗High debt to equity ratio of 2.3x
- ✗Weak 3Y average ROE of 0.4%
- ✗Trading more than 30% below 52-week high
- ✗Expensive at 42.6x book value
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
KRMN Price & Volume
Karman Holdings Inc. (KRMN) stock price & volume — 10-year historical chart
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KRMN Growth Metrics
Karman Holdings Inc. (KRMN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-
Return on Capital
10 Years6.98%
5 Years6.98%
3 Years6.98%
Last Year9.91%
KRMN Recent Earnings
Karman Holdings Inc. (KRMN) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 1/5 qtrs (25%)●Beat Revenue 4/5 qtrs (80%)
Q2 2026Latest
Mar 25, 2026EPS
$0.11
Est $0.11
+0.0%
Revenue
$134M
Est $133M
+1.4%
Q4 2025
Nov 6, 2025EPS
$0.10
Est $0.11
-10.5%
Revenue
$122M
Est $118M
+3.1%
Q3 2025
Aug 7, 2025EPS
$0.10
Est $0.11
-9.1%
Revenue
$115M
Est $105M
+9.4%
Q2 2025
May 13, 2025EPS
$0.05
Est $0.02
+123.6%
Revenue
$100M
Est $96M
+3.9%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 25, 2026 | $0.11vs $0.11+0.0% | $134Mvs $133M+1.4% |
| Q4 2025 | Nov 6, 2025 | $0.10vs $0.11-10.5% | $122Mvs $118M+3.1% |
| Q3 2025 | Aug 7, 2025 | $0.10vs $0.11-9.1% | $115Mvs $105M+9.4% |
| Q2 2025 | May 13, 2025 | $0.05vs $0.02+123.6% | $100Mvs $96M+3.9% |
Based on last 5 quarters of dataView full earnings history →
KRMN Peer Comparison
Karman Holdings Inc. (KRMN) competitors in Space Systems and Launch — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 RKLB | 48.74B | 84.65 | -228.78 | 37.96% | -32.94% | -19.23% | 0.15 | |
 MNTS | 2.9M | 4.80 | -0.12 | -31.56% | -34.45% | |||
 ATRO | 3.01B | 78.19 | 96.53 | 8.39% | 3.41% | 20.96% | 2.70 | |
 KTOS | 11.53B | 61.52 | 473.23 | 18.52% | 2.08% | 1.26% | 0.09 | |
 TDG | 69.67B | 1233.64 | 38.46 | 11.22% | 21.59% | |||
 DCO | 2.2B | 146.89 | -64.71 | 4.85% | -4.12% | -5.13% | 0.07 | |
 LMT | 118.52B | 514.26 | 23.93 | 5.65% | 6.38% | 74.53% | 3.23 | |
 NOC | 79.36B | 558.72 | 19.21 | 2.24% | 10.8% | 28.05% | 1.18 |
Compare KRMN vs Peers
Karman Holdings Inc. (KRMN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
KRMN Income Statement
Karman Holdings Inc. (KRMN) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|
| Sales/Revenue | 226.31M | 280.71M | 345.25M | 428.25M |
| Revenue Growth % | - | 24.04% | 22.99% | - |
| Cost of Goods Sold | 145.36M | 175.16M | 213.14M | 257.1M |
| COGS % of Revenue | 64.23% | 62.4% | 61.73% | - |
| Gross Profit | 80.95M▲ 0% | 105.55M▲ 30.4% | 132.11M▲ 25.2% | 171.14M▲ 0% |
| Gross Margin % | 35.77% | 37.6% | 38.27% | 39.96% |
| Gross Profit Growth % | - | 30.39% | 25.17% | - |
| Operating Expenses | 60.51M | 57.06M | 68.55M | 104.89M |
| OpEx % of Revenue | 26.74% | 20.33% | 19.86% | - |
| Selling, General & Admin | 30.04M | 36.62M | 44.42M | 75.87M |
| SG&A % of Revenue | 13.27% | 13.05% | 12.87% | - |
| Research & Development | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - |
| Other Operating Expenses | 30.48M | 20.43M | 24.13M | 4M |
| Operating Income | 20.43M▲ 0% | 48.49M▲ 137.3% | 63.56M▲ 31.1% | 66.25M▲ 0% |
| Operating Margin % | 9.03% | 17.28% | 18.41% | 15.47% |
| Operating Income Growth % | - | 137.31% | 31.07% | - |
| EBITDA | 55.42M | 75.67M | 96.36M | 104.74M |
| EBITDA Margin % | 24.49% | 26.96% | 27.91% | 24.46% |
| EBITDA Growth % | - | 36.55% | 27.33% | - |
| D&A (Non-Cash Add-back) | 34.98M | 27.18M | 32.8M | 38.49M |
| EBIT | 20.23M | 48.49M | 63.56M | 66.6M |
| Net Interest Income | -37.5M | -47.87M | -50.73M | -46.01M |
| Interest Income | 0 | 0 | 0 | 0 |
| Interest Expense | 37.5M | 47.87M | 50.73M | 46.01M |
| Other Income/Expense | -37.71M | -47.3M | -49.23M | -45.31M |
| Pretax Income | -17.27M▲ 0% | 1.19M▲ 106.9% | 14.33M▲ 1103.5% | 20.94M▲ 0% |
| Pretax Margin % | -7.63% | 0.42% | 4.15% | 4.89% |
| Income Tax | -3.17M | -3.17M | 1.63M | 9.6M |
| Effective Tax Rate % | 18.37% | -266.16% | 11.36% | 45.87% |
| Net Income | -14.1M▲ 0% | 4.36M▲ 130.9% | 12.7M▲ 191.3% | 11.34M▲ 0% |
| Net Margin % | -6.23% | 1.55% | 3.68% | 2.65% |
| Net Income Growth % | - | 130.92% | 191.35% | - |
| Net Income (Continuing) | -14.1M | 4.36M | 12.7M | 11.34M |
| Discontinued Operations | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.11▲ 0% | 0.03▲ 130.0% | 0.10▲ 191.2% | 0.09▲ 0% |
| EPS Growth % | - | 130% | 191.21% | - |
| EPS (Basic) | -0.11 | 0.03 | 0.10 | - |
| Diluted Shares Outstanding | 132.17M | 132.17M | 132.17M | 132.32M |
| Basic Shares Outstanding | 132.17M | 132.17M | 132.17M | 132.32M |
| Dividend Payout Ratio | - | 18.09% | 1.23% | - |
KRMN Balance Sheet
Karman Holdings Inc. (KRMN) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|
| Total Current Assets | 119.73M | 157.69M | 201.71M | 260.57M |
| Cash & Short-Term Investments | 6.63M | 5.45M | 11.53M | 18.66M |
| Cash Only | 6.63M | 5.45M | 11.53M | 18.66M |
| Short-Term Investments | 0 | 0 | 0 | 0 |
| Accounts Receivable | 108.91M | 139.78M | 162.44M | 217.16M |
| Days Sales Outstanding | 175.66 | 181.76 | 171.73 | 157.9 |
| Inventory | 2.27M | 9.84M | 9.88M | 15.38M |
| Days Inventory Outstanding | 5.7 | 20.5 | 16.93 | 17.89 |
| Other Current Assets | 0 | 0 | 12.2M | 9.36M |
| Total Non-Current Assets | 562.86M | 553.14M | 572.25M | 707.51M |
| Property, Plant & Equipment | 55.53M | 58.19M | 136.96M | 153.78M |
| Fixed Asset Turnover | 4.08x | 4.82x | 2.52x | 2.95x |
| Goodwill | 217.27M | 217.27M | 225.15M | 301.84M |
| Intangible Assets | 221.96M | 207.56M | 208.95M | 245.13M |
| Long-Term Investments | 563.46K | 0 | 0 | 0 |
| Other Non-Current Assets | 67.53M | 70.12M | 1.19M | 21.92M |
| Total Assets | 682.59M▲ 0% | 710.83M▲ 4.1% | 773.96M▲ 8.9% | 968.08M▲ 0% |
| Asset Turnover | 0.33x | 0.39x | 0.45x | 0.48x |
| Asset Growth % | - | 4.14% | 8.88% | 38.22% |
| Total Current Liabilities | 58.3M | 87.07M | 114.61M | 91.14M |
| Accounts Payable | 12.92M | 21.04M | 28.3M | 32.66M |
| Days Payables Outstanding | 32.44 | 43.85 | 48.46 | 40.62 |
| Short-Term Debt | 6.26M | 6.26M | 7.14M | 2.82M |
| Deferred Revenue (Current) | 16.07M | 36.07M | 29.87M | 94.55M |
| Other Current Liabilities | 8.87M | 0 | 12.49M | 3.9M |
| Current Ratio | 2.05x | 1.81x | 1.76x | 1.76x |
| Quick Ratio | 2.01x | 1.70x | 1.67x | 1.67x |
| Cash Conversion Cycle | 148.91 | 158.41 | 140.2 | 135.17 |
| Total Non-Current Liabilities | 446.69M | 441.3M | 463.36M | 507.82M |
| Long-Term Debt | 320.24M | 318.02M | 351.92M | 395.14M |
| Capital Lease Obligations | 71.09M | 81.4M | 83.3M | 325.96M |
| Deferred Tax Liabilities | 47.59M | 36.88M | 25.37M | 106.97M |
| Other Non-Current Liabilities | 7.78M | 5M | 2.77M | 10.42M |
| Total Liabilities | 505M | 528.37M | 577.96M | 598.96M |
| Total Debt | 403.58M | 409.33M | 447.87M | 483.69M |
| Net Debt | 396.95M | 403.88M | 436.34M | 465.02M |
| Debt / Equity | 2.27x | 2.24x | 2.29x | 2.29x |
| Debt / EBITDA | 7.28x | 5.41x | 4.65x | 4.62x |
| Net Debt / EBITDA | 7.16x | 5.34x | 4.53x | 4.53x |
| Interest Coverage | 0.54x | 1.01x | 1.25x | 1.45x |
| Total Equity | 177.6M▲ 0% | 182.46M▲ 2.7% | 196M▲ 7.4% | 369.12M▲ 0% |
| Equity Growth % | - | 2.74% | 7.42% | 98.65% |
| Book Value per Share | 1.34 | 1.38 | 1.48 | 2.79 |
| Total Shareholders' Equity | 177.6M | 182.46M | 196M | 369.12M |
| Common Stock | 202.92M | 203.42M | 204.26M | 132K |
| Retained Earnings | -25.4M | -21.04M | -8.34M | 1.32M |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | 75.89K | 76.32K | 75.08K | 75K |
| Minority Interest | 0 | 0 | 0 | 0 |
KRMN Cash Flow Statement
Karman Holdings Inc. (KRMN) cash flow — operating, investing & free cash flow history
| Line item | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|
| Cash from Operations | -5.89M | 20.33M | 26.65M | 26.65M |
| Operating CF Margin % | -2.6% | 7.24% | 7.72% | - |
| Operating CF Growth % | - | 444.94% | 31.09% | -634.95% |
| Net Income | -14.1M | 4.36M | 12.7M | 11.34M |
| Depreciation & Amortization | 34.98M | 27.18M | 32.8M | 39.15M |
| Stock-Based Compensation | 1.6M | 1.29M | 993.14K | 1.66M |
| Deferred Taxes | -9.81M | -10.71M | -11.51M | 2.31M |
| Other Non-Cash Items | 2.77M | 2.77M | 1.62M | 2.91M |
| Working Capital Changes | -21.35M | -4.57M | -9.96M | -80.63M |
| Change in Receivables | -34.83M | -30.87M | -20.35M | -55.72M |
| Change in Inventory | 2.17M | 7.57M | -43.81K | -1.04M |
| Change in Payables | 0 | 0 | 31.78M | -26.67M |
| Cash from Investing | -21.26M | -16.21M | -46.24M | -152.18M |
| Capital Expenditures | -21.27M | -16.78M | -15.25M | -19.75M |
| CapEx % of Revenue | 9.4% | 5.98% | 4.42% | - |
| Acquisitions | 0 | 0 | -31.29M | -126.73M |
| Investments | - | - | - | - |
| Other Investing | 0 | 0 | 306.04K | 306.04K |
| Cash from Financing | 16.73M | -5.29M | 25.67M | 186.44M |
| Debt Issued (Net) | -14.93M | 1.75M | 27.58M | 38.54M |
| Equity Issued (Net) | 1000K | -788.59K | -155.91K | 959.44K |
| Dividends Paid | -109.35K | -788.59K | -155.91K | 0 |
| Share Repurchases | -109.35K | -788.59K | -155.91K | -40.56K |
| Other Financing | 109.35K | -5.46M | -1.61M | -5.87M |
| Net Change in Cash | -10.42M▲ 0% | -1.17M▲ 88.8% | 6.08M▲ 618.7% | 10.99M▲ 0% |
| Free Cash Flow | -27.16M▲ 0% | 3.55M▲ 113.1% | 11.39M▲ 220.8% | -43.02M▲ 0% |
| FCF Margin % | -12% | 1.27% | 3.3% | -10.05% |
| FCF Growth % | - | 113.07% | 220.84% | - |
| FCF per Share | -0.21 | 0.03 | 0.09 | 0.09 |
| FCF Conversion (FCF/Net Income) | 0.42x | 4.66x | 2.10x | -3.79x |
| Interest Paid | 35.62M | 45.9M | 47.87M | 33.78M |
| Taxes Paid | 4.94M | 3.1M | 0 | 12.75M |
KRMN Key Ratios
Karman Holdings Inc. (KRMN) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2023 | 2024 | TTM |
|---|---|---|---|
| Return on Equity (ROE) | 2.42% | 6.71% | 3.07% |
| Return on Invested Capital (ROIC) | 6.27% | 7.82% | 7.82% |
| Gross Margin | 37.6% | 38.27% | 39.96% |
| Net Margin | 1.55% | 3.68% | 2.65% |
| Debt / Equity | 2.24x | 2.29x | 2.29x |
| Interest Coverage | 1.01x | 1.25x | 1.45x |
| FCF Conversion | 4.66x | 2.10x | -3.79x |
| Revenue Growth | 24.04% | 22.99% | - |
KRMN SEC Filings & Documents
Karman Holdings Inc. (KRMN) SEC filings — annual & quarterly reports (10-K, 10-Q)
KRMN Frequently Asked Questions
Karman Holdings Inc. (KRMN) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Karman Holdings Inc. (KRMN) reported $428.2M in revenue for fiscal year 2024. This represents a 89% increase from $226.3M in 2022.
Karman Holdings Inc. (KRMN) grew revenue by 23.0% over the past year. This is strong growth.
Yes, Karman Holdings Inc. (KRMN) is profitable, generating $11.3M in net income for fiscal year 2024 (3.7% net margin).
Dividend & Returns
Karman Holdings Inc. (KRMN) does not currently pay a meaningful dividend. The company may be reinvesting profits for growth.
Karman Holdings Inc. (KRMN) has a return on equity (ROE) of 6.7%. This is below average, suggesting room for improvement.
Karman Holdings Inc. (KRMN) had negative free cash flow of $43.0M in fiscal year 2024, likely due to heavy capital investments.
Explore More KRMN
Karman Holdings Inc. (KRMN) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
Dollar cost averaging vs lump sum
Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates