Kratos Defense & Security Solutions, Inc. (KTOS) Financial Ratios
28 years of historical data (1998–2025) · Industrials · Aerospace & Defense
EV/EBITDA
↑
112.47
↑+77% vs avg
5yr avg: 63.39
30Y Low9.8·High74.3
P/FCF
N/A
—
5yr avg: 206.70
30Y Low6.4·High150.3
P/B Ratio
↑
4.70
↑+44% vs avg
5yr avg: 3.26
30Y Low0.5·High15.1
ROE
↑
1.3%
↓+386% vs avg
5yr avg: -0.5%
30Y Low-71%·High33%
Debt/EBITDA
↓
2.06
↓-55% vs avg
5yr avg: 4.63
30Y Low0.0·High21.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
KTOS Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Kratos Defense & Security Solutions, Inc. trades at 417.0x earnings, roughly in line with its 5-year average of 419.4x, sitting at the 100th percentile of its historical range. Compared to the Industrials sector median P/E of 25.6x, the stock trades at a premium of 1531%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $10.2B | $13.4B | $4.0B | $2.6B | $1.3B | $2.5B | $3.3B | $2.0B | $1.5B | $948M | $454M |
| Enterprise Value | $9.8B | $13.1B | $4.0B | $2.9B | $1.5B | $2.5B | $3.2B | $2.1B | $1.6B | $1.1B | $817M |
| P/E Ratio → | 417.00 | 597.69 | 241.09 | — | — | — | 40.94 | 163.73 | — | — | — |
| P/S Ratio | 7.55 | 9.98 | 3.52 | 2.55 | 1.46 | 3.06 | 4.35 | 2.74 | 2.42 | 1.26 | 0.68 |
| P/B Ratio | 4.70 | 6.74 | 2.96 | 2.65 | 1.38 | 2.59 | 3.46 | 3.34 | 2.88 | 1.85 | 1.64 |
| P/FCF | — | — | — | 206.70 | — | — | 304.29 | 531.54 | — | — | — |
| P/OCF | — | — | 80.52 | 40.58 | — | 80.62 | 69.87 | 65.56 | 82.59 | — | — |
P/E links to full P/E history page with 30-year chart
KTOS EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Kratos Defense & Security Solutions, Inc.'s enterprise value stands at 112.5x EBITDA, 77% above its 5-year average of 63.4x. The Industrials sector median is 13.8x, placing the stock at a 713% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.70 | 3.48 | 2.79 | 1.70 | 3.05 | 4.31 | 2.98 | 2.60 | 1.48 | 1.22 |
| EV / EBITDA | 112.47 | 150.17 | 48.88 | 38.18 | 40.21 | 39.51 | 50.93 | 29.23 | 33.26 | 67.78 | 194.41 |
| EV / EBIT | 353.23 | 293.60 | 94.83 | 88.24 | — | 88.02 | 106.04 | 54.51 | 53.02 | — | — |
| EV / FCF | — | — | — | 226.13 | — | — | 301.27 | 577.48 | — | — | — |
KTOS Profitability
Margins and return-on-capital ratios measuring operating efficiency
Kratos Defense & Security Solutions, Inc. earns an operating margin of 2.1%, below the Industrials sector average of 4.3%. ROE of 1.3% is modest, trailing the sector median of 8.2%. ROIC of 1.4% represents below-average returns on invested capital versus a sector median of 6.1%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 22.1% | 22.1% | 25.3% | 25.9% | 25.2% | 27.7% | 27.2% | 26.5% | 27.5% | 26.2% | 23.0% |
| Operating Margin | 2.1% | 2.1% | 2.6% | 3.0% | -0.3% | 3.4% | 3.9% | 5.3% | 4.9% | -0.8% | -2.8% |
| Net Profit Margin | 1.6% | 1.6% | 1.4% | -0.9% | -4.1% | -0.2% | 10.6% | 1.7% | -0.6% | -5.7% | -9.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 1.3% | 1.3% | 1.4% | -0.9% | -3.9% | -0.2% | 10.4% | 2.3% | -0.7% | -10.8% | -22.8% |
| ROA | 1.0% | 1.0% | 0.9% | -0.6% | -2.3% | -0.1% | 5.8% | 1.1% | -0.3% | -4.3% | -6.5% |
| ROIC | 1.4% | 1.4% | 1.7% | 1.9% | -0.2% | 2.3% | 2.6% | 4.1% | 3.5% | -0.7% | -2.1% |
| ROCE | 1.5% | 1.5% | 1.9% | 2.3% | -0.2% | 2.0% | 2.5% | 4.1% | 3.6% | -0.7% | -2.5% |
KTOS Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Kratos Defense & Security Solutions, Inc. carries a Debt/EBITDA ratio of 2.1x, which is manageable (36% below the sector average of 3.2x). The company holds a net cash position — cash of $561M exceeds total debt of $180M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 4.2x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.09 | 0.09 | 0.21 | 0.32 | 0.32 | 0.35 | 0.37 | 0.58 | 0.57 | 0.58 | 1.56 |
| Debt / EBITDA | 2.06 | 2.06 | 3.49 | 4.24 | 7.94 | 5.42 | 5.51 | 4.69 | 6.09 | 17.95 | 102.86 |
| Net Debt / Equity | — | -0.19 | -0.03 | 0.25 | 0.23 | -0.01 | -0.03 | 0.29 | 0.21 | 0.32 | 1.31 |
| Net Debt / EBITDA | -4.38 | -4.38 | -0.58 | 3.28 | 5.80 | -0.16 | -0.51 | 2.33 | 2.31 | 9.99 | 86.40 |
| Debt / FCF | — | — | — | 19.42 | — | — | -3.02 | 45.95 | — | — | — |
| Interest Coverage | 4.24 | 4.24 | 2.74 | 1.51 | -0.80 | 1.19 | 1.29 | 1.67 | 1.40 | -0.96 | -0.49 |
Net cash position: cash ($561M) exceeds total debt ($180M)
KTOS Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Kratos Defense & Security Solutions, Inc.'s current ratio of 4.06x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 3.46x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 2.03x to 4.06x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.06 | 4.06 | 2.94 | 2.03 | 2.49 | 3.43 | 3.87 | 2.86 | 3.00 | 2.49 | 1.90 |
| Quick Ratio | 3.46 | 3.46 | 2.39 | 1.50 | 1.95 | 3.01 | 3.46 | 2.52 | 2.72 | 2.23 | 1.62 |
| Cash Ratio | 1.80 | 1.80 | 1.11 | 0.25 | 0.35 | 1.58 | 1.93 | 0.94 | 1.11 | 0.69 | 0.35 |
| Asset Turnover | — | 0.55 | 0.58 | 0.64 | 0.58 | 0.51 | 0.48 | 0.60 | 0.61 | 0.73 | 0.70 |
| Inventory Turnover | 5.57 | 5.57 | 5.24 | 4.92 | 5.36 | 6.39 | 6.71 | 8.63 | 9.58 | 11.00 | 9.30 |
| Days Sales Outstanding | — | 123.96 | 103.98 | 115.82 | 133.40 | 128.01 | 132.88 | 134.35 | 140.21 | 103.06 | 127.73 |
KTOS Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Kratos Defense & Security Solutions, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 0.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.2% | 0.2% | 0.4% | — | — | — | 2.4% | 0.6% | — | — | — |
| FCF Yield | — | — | — | 0.5% | — | — | 0.3% | 0.2% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 1.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 1.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% |
| Shares Outstanding | — | $173M | $151M | $130M | $127M | $128M | $119M | $109M | $106M | $90M | $61M |
Peer Comparison
Compare KTOS with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 KTOSYou | $10B | 417.0 | 112.5 | — | 22.1% | 2.1% | 1.3% | 1.4% | 2.1 |
 AVAV | $8B | 109.4 | 103.8 | — | 39.4% | 5.0% | 5.1% | 3.6% | 0.8 |
 RCAT | $1B | -19.1 | — | — | 3.1% | -163.5% | -48.7% | -71.0% | — |
 JOBY | $10B | -8.8 | — | — | -30.1% | -1346.9% | -80.1% | -54.7% | — |
 ACHR | $4B | -5.6 | — | — | — | -243100.0% | -41.8% | -89.6% | — |
 CACI | $10B | 20.9 | 14.1 | 21.4 | 8.9% | 8.9% | 13.5% | 9.2% | 3.5 |
 SAIC | $4B | 13.3 | 10.2 | 7.5 | 12.1% | 7.2% | 23.3% | 9.9% | 4.0 |
 LHX | $55B | 34.6 | 18.8 | 20.5 | 25.7% | 10.0% | 8.2% | 5.4% | 3.1 |
 HII | $11B | 18.5 | 14.5 | 14.2 | 12.7% | 4.9% | 12.4% | 6.2% | 3.4 |
 TDY | $29B | 32.8 | 20.9 | 26.7 | 39.2% | 18.8% | 8.9% | 7.0% | 1.8 |
 LDOS | $13B | 9.6 | 7.6 | 8.3 | 17.7% | 12.3% | 30.9% | 17.1% | 2.5 |
| Industrials Median | — | 25.6 | 13.8 | 20.0 | 32.0% | 4.3% | 8.2% | 6.1% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 28 years · Updated daily
Consensus-Based Analysis Tools
Full Stock Analysis
Deep dive into KTOS consensus models and risk factors.
View Analysis
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
KTOS — Frequently Asked Questions
Quick answers to the most common questions about buying KTOS stock.
What is Kratos Defense & Security Solutions, Inc.'s P/E ratio?
Kratos Defense & Security Solutions, Inc.'s current P/E ratio is 417.0x. The historical average is 70.6x. This places it at the 100th percentile of its historical range.
What is Kratos Defense & Security Solutions, Inc.'s EV/EBITDA?
Kratos Defense & Security Solutions, Inc.'s current EV/EBITDA is 112.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 33.2x.
What is Kratos Defense & Security Solutions, Inc.'s ROE?
Kratos Defense & Security Solutions, Inc.'s return on equity (ROE) is 1.3%. The historical average is -6.4%.
Is KTOS stock overvalued?
Based on historical data, Kratos Defense & Security Solutions, Inc. is trading at a P/E of 417.0x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Kratos Defense & Security Solutions, Inc.'s profit margins?
Kratos Defense & Security Solutions, Inc. has 22.1% gross margin and 2.1% operating margin.
How much debt does Kratos Defense & Security Solutions, Inc. have?
Kratos Defense & Security Solutions, Inc.'s Debt/EBITDA ratio is 2.1x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.