Karman Holdings Inc. (KRMN)

NYSE: KRMN · Real-Time Price · USD

46.25

+0.64 (1.40%)

Nov 9, 2026, 2:40 PM EST - Market open

Karman Holdings Financials Overview

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Revenue	669.39	471.5	345.25	280.71	226.31
Revenue Growth	56.31%	36.57%	22.99%	24.04%	-
Gross Profit	281.87	190.03	132.11	105.55	80.95
Operating Income	110.9	72.94	63.56	48.49	20.43
Net Income	50.45	17.37	12.7	4.36	-14.1
Earnings Per Share	0.38	0.13	0.08	0.03	-0.09
EPS Growth	390.03%	70.66%	191.45%	-	-

Revenue by Segment

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Hypersonics & Strategic Missile Defense	178.56	149.99	114.59	100.09	72.3
Space & Launch	159.49	149.83	115.04	94.64	79.66
Tactical Missiles & Integrated Defense Systems	226.32	171.69	115.62	85.97	74.35
Revenue (Total)	669.39	471.5	345.25	280.71	226.31

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Cash & Investments	68.17	33.96	11.53	5.45	7.19
Total Debt	1,009	587.31	447.87	409.33	403.58
Net Cash (Debt)	-940.88	-553.35	-436.34	-403.88	-396.39
Net Cash Growth	-	-	-	-	-
Net Cash Per Share	-7.10	-4.18	-2.62	-2.42	-2.49

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Operating Cash Flow	32.46	-22.12	26.65	20.33	-5.89
Capital Expenditures	-39.92	-20.34	-15.25	-16.78	-21.27
Free Cash Flow	-7.46	-42.46	11.39	3.55	-27.16
Free Cash Flow Growth	-	-	220.75%	-	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Gross Margin	42.11%	40.30%	38.27%	37.60%	35.77%
Operating Margin	16.57%	15.47%	18.41%	17.28%	9.03%
Pretax Margin	8.18%	6.90%	4.15%	0.42%	-7.63%
Profit Margin	7.54%	3.68%	3.68%	1.55%	-6.23%
FCF Margin	-1.11%	-9.00%	3.30%	1.26%	-12.00%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Nov '26 Nov 9, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
PE Ratio	121.69	557.53	-	-	-
Forward PE	50.91	144.01	-	-	-
PS Ratio	9.03	20.54	-	-	-