Symbols / KRMN Stock $65.73 -3.31% Karman Holdings Inc.

Industrials • Aerospace & Defense • United States • NYQ
KRMN (Stock) Chart
O: — H: — L: — C: — V: —
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Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Industrials
Industry Aerospace & Defense
CEO Mr. Jonathan P. Rambeau
Exch · Country NYQ · United States
Market Cap 8.71B
Enterprise Value 9.26B
Income 17.37M
Sales 471.50M
FCF (ttm) -41.06M
Book/sh 2.89
Cash/sh 0.26
Employees 1,400
Insider 10d —
IPO Feb 13, 2025
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E 505.62
Forward P/E 67.19
PEG —
P/S 18.47
P/B 22.73
P/C —
EV/EBITDA 80.09
EV/Sales 19.65
Quick Ratio 3.03
Current Ratio 3.29
Debt/Eq 153.47
LT Debt/Eq —
EPS (ttm) 0.13
EPS next Y 0.98
EPS Growth 4.83%
Revenue Growth 47.40%
EPS Gr Q/Q 3.58%
Rev Gr Q/Q —
Earnings (next) 2026-05-12
Earnings (prior) 2026-03-25
ROA 4.86%
ROE 6.00%
ROIC —
Gross Margin 40.30%
Oper. Margin 15.66%
Profit Margin 3.68%
Shs Outstand 132.53M
Shs Float 102.67M
Insider Own 6.16%
Instit Own 88.27%
Short Float 7.21%
Short Ratio 4.96
Short Interest 9.00M
52W High 118.38
vs 52W High -44.48%
52W Low 36.11
vs 52W Low 82.03%
Beta —
Impl. Vol. 87.13%
Rel Volume 0.68
Avg Volume 2.09M
Volume 1.43M
Target (mean) $117.10
Tgt Median $125.00
Tgt Low $37.00
Tgt High $135.00
# Analysts 10
Recom None
Prev Close $67.98
Price $65.73
Change -3.31%
About

Karman Holdings Inc., through its subsidiary, engages in designing, testing, manufacturing, and sale of mission-critical systems in the United States. The company offers payload protection and deployment systems, aerodynamic interstage systems, and propulsion systems. It serves its products to hypersonics and strategic missile defense, tactical missile and integrated defense systems, and space and launch markets. The company was incorporated in 2020 and is headquartered in Huntington Beach, California. Karman Holdings Inc. operates as a subsidiary of TCFIII Spaceco SPV LP.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$117.10
Mean price target
2. Current target
$65.73
Latest analyst target
3. DCF / Fair value
$-5.58
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$65.73
Low
$37.00
High
$135.00
Mean
$117.10

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-04-09 reit Needham Buy → Buy $125
2026-03-27 main BWS Financial Sell → Sell $37
2026-03-26 main Citigroup Buy → Buy $127
2026-03-26 reit Needham Buy → Buy $125
2026-03-20 main Baird Outperform → Outperform $135
2026-03-13 init Needham — → Buy $125
2026-03-06 up Piper Sandler Neutral → Overweight $127
2026-01-28 main Keybanc Overweight → Overweight $122
2026-01-22 main BWS Financial Sell → Sell $37
2026-01-22 main Citigroup Buy → Buy $125
2026-01-22 main RBC Capital Outperform → Outperform $125
2026-01-22 main Evercore ISI Group Outperform → Outperform $125
2026-01-22 init Piper Sandler — → Neutral $98
2026-01-13 main Citigroup Buy → Buy $123
2026-01-12 init BWS Financial — → Sell $37
2025-12-19 init Keybanc — → Overweight $80
2025-12-12 init Citigroup — → Buy $84
2025-11-07 main RBC Capital Outperform → Outperform $85
2025-10-10 init Truist Securities — → Buy $89
2025-09-29 main Evercore ISI Group Outperform → Outperform $75
News
RSS: Latest KRMN news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2025-12-12 KOBLINSKI TONY Chief Executive Officer — 75,000 $69.31 $5,198,250
2025-12-05 KOBLINSKI TONY Chief Executive Officer — 75,000 $66.51 $4,988,250
2025-11-28 KOBLINSKI TONY Chief Executive Officer — 75,000 $67.40 $5,055,000
2025-11-21 KOBLINSKI TONY Chief Executive Officer — 75,000 $58.48 $4,386,000
2025-11-17 WILLIS MICHAEL Chief Financial Officer — 115,000 $58.63 $6,742,887
2025-11-13 SAWHILL STEPHANIE Officer — 62,000 $63.93 $3,963,623
2025-11-13 BEAUDOIN JONATHAN Chief Operating Officer — 74,000 $63.69 $4,712,875
2025-11-12 RADUENZ BRIAN D. Director — 90,000 $68.00 $6,120,135
2025-07-25 RADUENZ BRIAN D. Director — 34,032 $49.00 $1,667,568
2025-07-25 RADUENZ BRIAN D. Director — 34,032 $49.00 $1,667,568
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
471.50
+36.57%
345.25
+22.99%
280.70
+24.04%
226.31
Operating Revenue
471.50
+36.57%
345.25
+22.99%
280.70
+24.04%
226.31
Cost Of Revenue
281.47
+32.06%
213.14
+21.69%
175.16
+20.49%
145.36
Reconciled Cost Of Revenue
270.17
+32.13%
204.47
+21.42%
168.41
+19.56%
140.86
Gross Profit
190.03
+43.84%
132.11
+25.17%
105.55
+30.39%
80.95
Operating Expense
117.08
+70.80%
68.55
+20.15%
57.05
-5.71%
60.51
Selling General And Administration
85.66
+92.83%
44.42
+21.29%
36.62
+21.93%
30.04
Selling And Marketing Expense
0.68
+18.09%
0.57
+30.73%
0.44
+0.64%
0.44
General And Administrative Expense
84.98
+93.81%
43.85
+19.72%
36.62
+21.93%
30.04
Salaries And Wages
42.19
+83.73%
22.96
+9.03%
21.06
+39.13%
15.14
Other Gand A
42.78
+104.89%
20.88
-42.98%
36.62
+21.93%
30.04
Total Expenses
398.56
+41.49%
281.69
+21.31%
232.21
+12.79%
205.88
Operating Income
72.94
+14.76%
63.56
+31.07%
48.49
+137.31%
20.43
Total Operating Income As Reported
72.94
+14.76%
63.56
+31.07%
48.49
+137.31%
20.43
EBITDA
119.83
+22.45%
97.86
+28.36%
76.24
+38.08%
55.21
Normalized EBITDA
119.83
+22.45%
97.86
+28.36%
76.24
+38.08%
55.21
Reconciled Depreciation
42.74
+30.31%
32.80
+20.67%
27.18
-22.31%
34.98
EBIT
77.09
+18.49%
65.06
+32.63%
49.06
+142.51%
20.23
Total Unusual Items
—
—
0.56
+374.20%
-0.21
Total Unusual Items Excluding Goodwill
—
—
0.56
+374.20%
-0.21
Special Income Charges
—
—
0.56
+374.20%
-0.21
Net Income
17.37
+36.73%
12.70
+191.37%
4.36
+130.92%
-14.10
Pretax Income
32.52
+126.97%
14.33
+1104.12%
1.19
+106.89%
-17.27
Net Non Operating Interest Income Expense
-44.57
+12.15%
-50.73
-5.99%
-47.87
-27.64%
-37.50
Interest Expense Non Operating
44.57
-12.15%
50.73
+5.99%
47.87
+27.64%
37.50
Net Interest Income
-44.57
+12.15%
-50.73
-5.99%
-47.87
-27.64%
-37.50
Interest Expense
44.57
-12.15%
50.73
+5.99%
47.87
+27.64%
37.50
Other Income Expense
4.15
+176.10%
1.50
+166.79%
0.56
+373.83%
-0.21
Other Non Operating Income Expenses
4.15
+176.10%
1.50
+166.79%
0.56
+373.83%
-0.21
Tax Provision
15.16
+830.96%
1.63
+151.37%
-3.17
+0.12%
-3.17
Tax Rate For Calcs
0.00
+82.61%
0.00
-45.24%
0.00
+14.13%
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
17.37
+36.73%
12.70
+191.37%
4.36
+130.92%
-14.10
Net Income From Continuing Operation Net Minority Interest
17.37
+36.73%
12.70
+191.37%
4.36
+130.92%
-14.10
Net Income From Continuing And Discontinued Operation
17.37
+36.73%
12.70
+191.37%
4.36
+130.92%
-14.10
Net Income Continuous Operations
17.37
+36.73%
12.70
+191.37%
4.36
+130.92%
-14.10
Normalized Income
17.37
+36.73%
12.70
+191.37%
4.36
+130.92%
-14.10
Net Income Common Stockholders
17.37
+36.73%
12.70
+191.37%
4.36
+130.92%
-14.10
Diluted EPS
—
0.10
+173.15%
0.04
+130.88%
-0.11
Basic EPS
—
0.10
+173.15%
0.04
+130.88%
-0.11
Basic Average Shares
—
132.17
+6.67%
123.91
+0.00%
123.91
Diluted Average Shares
—
132.17
+6.67%
123.91
+0.00%
123.91
Diluted NI Availto Com Stockholders
17.37
+36.73%
12.70
+191.37%
4.36
+130.92%
-14.10
Depreciation Amortization Depletion Income Statement
31.43
+30.24%
24.13
+18.10%
20.43
-32.96%
30.48
Depreciation And Amortization In Income Statement
31.43
+30.24%
24.13
+18.10%
20.43
-32.96%
30.48
Gain On Sale Of PPE
—
—
0.56
+374.20%
-0.21
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
1,104.10
+42.66%
773.96
+8.88%
710.83
+4.14%
682.59
Current Assets
291.40
+44.47%
201.71
+27.91%
157.69
+31.71%
119.73
Cash Cash Equivalents And Short Term Investments
33.96
+194.53%
11.53
+111.38%
5.45
-17.67%
6.63
Cash And Cash Equivalents
33.96
+194.53%
11.53
+111.38%
5.45
-17.67%
6.63
Receivables
235.01
+44.68%
162.44
+16.21%
139.78
+28.34%
108.91
Accounts Receivable
78.72
+42.55%
55.22
+9.14%
50.60
+6.31%
47.59
Gross Accounts Receivable
79.60
+42.31%
55.93
+8.32%
51.64
+8.45%
47.61
Allowance For Doubtful Accounts Receivable
-0.88
-24.02%
-0.71
+31.48%
-1.04
-5009.04%
-0.02
Other Receivables
156.30
+45.77%
107.22
+20.22%
89.18
+45.44%
61.32
Inventory
10.66
+7.88%
9.88
+0.44%
9.84
+333.80%
2.27
Raw Materials
7.64
-19.41%
9.48
-3.60%
9.84
+333.80%
2.27
Work In Process
1.97
+395.98%
0.40
—
—
Finished Goods
1.04
0.00
—
—
Current Deferred Assets
0.00
-100.00%
12.20
0.00
—
Other Current Assets
11.77
+108.14%
5.65
+115.93%
2.62
+36.03%
1.92
Total Non Current Assets
812.69
+42.02%
572.25
+3.46%
553.14
-1.73%
562.86
Net PPE
167.62
+22.38%
136.96
+7.65%
127.23
+4.42%
121.85
Gross PPE
207.01
+26.29%
163.92
+13.10%
144.94
+10.01%
131.75
Accumulated Depreciation
-39.38
-46.13%
-26.95
-52.25%
-17.70
-78.91%
-9.89
Properties
0.00
0.00
0.00
0.00
Land And Improvements
6.61
0.00
—
—
Machinery Furniture Equipment
90.37
+42.31%
63.50
+19.07%
53.33
+15.09%
46.34
Construction In Progress
18.97
+87.30%
10.13
+153.79%
3.99
-22.26%
5.13
Other Properties
72.21
-5.09%
76.08
+0.90%
75.40
+6.40%
70.87
Leases
18.84
+32.67%
14.20
+16.31%
12.21
+29.77%
9.41
Goodwill And Other Intangible Assets
638.40
+47.06%
434.10
+2.18%
424.83
-3.28%
439.24
Goodwill
352.51
+56.57%
225.15
+3.62%
217.27
+0.00%
217.27
Other Intangible Assets
285.89
+36.82%
208.95
+0.67%
207.56
-6.49%
221.96
Investments And Advances
—
—
0.00
-100.00%
0.56
Non Current Accounts Receivable
—
70.01
+1.40%
69.04
+4.11%
66.32
Other Non Current Assets
6.67
+461.84%
1.19
+10.51%
1.07
-11.11%
1.21
Total Liabilities Net Minority Interest
721.40
+24.82%
577.96
+9.39%
528.37
+4.63%
505.00
Current Liabilities
88.67
-22.63%
114.61
+31.63%
87.07
+49.34%
58.30
Payables And Accrued Expenses
55.80
-22.59%
72.09
+75.44%
41.09
+94.63%
21.11
Payables
36.93
-23.62%
48.35
+68.97%
28.61
+86.61%
15.33
Accounts Payable
31.63
+11.79%
28.30
+34.48%
21.04
+62.86%
12.92
Current Accrued Expenses
18.87
-20.50%
23.74
+90.28%
12.47
+115.91%
5.78
Total Tax Payable
5.30
-73.58%
20.05
+164.84%
7.57
+213.69%
2.41
Income Tax Payable
5.30
-73.58%
20.05
+164.84%
7.57
+213.69%
2.41
Current Debt And Capital Lease Obligation
10.05
-20.56%
12.65
+27.71%
9.91
-19.16%
12.26
Current Debt
3.84
-46.27%
7.14
+13.97%
6.26
+0.00%
6.26
Other Current Borrowings
3.84
-46.27%
7.14
+13.97%
6.26
+0.00%
6.26
Current Capital Lease Obligation
6.22
+12.75%
5.51
+51.34%
3.64
-39.20%
5.99
Current Deferred Liabilities
22.81
-23.62%
29.87
-17.20%
36.07
+124.50%
16.07
Current Deferred Revenue
22.81
-23.62%
29.87
-17.20%
36.07
+124.50%
16.07
Other Current Liabilities
—
—
6.04
-31.84%
8.87
Total Non Current Liabilities Net Minority Interest
632.74
+36.56%
463.36
+5.00%
441.30
-1.21%
446.69
Long Term Debt And Capital Lease Obligation
577.26
+32.64%
435.21
+8.96%
399.42
+2.07%
391.32
Long Term Debt
495.31
+40.75%
351.92
+10.66%
318.02
-0.69%
320.24
Long Term Capital Lease Obligation
81.94
-1.62%
83.30
+2.33%
81.40
+14.51%
71.09
Non Current Deferred Liabilities
47.83
+88.54%
25.37
-31.21%
36.88
-22.50%
47.59
Non Current Deferred Taxes Liabilities
47.83
+88.54%
25.37
-31.21%
36.88
-22.50%
47.59
Other Non Current Liabilities
7.65
+175.97%
2.77
-44.53%
5.00
-35.78%
7.78
Stockholders Equity
382.69
+95.25%
196.00
0.00
0.00
Common Stock Equity
382.69
+95.25%
196.00
+7.42%
182.46
+2.74%
177.60
Capital Stock
0.13
0.00
—
—
Common Stock
0.13
0.00
—
—
Preferred Stock
0.00
0.00
—
—
Share Issued
132.32
+0.11%
132.17
+0.00%
132.17
+0.00%
132.17
Ordinary Shares Number
132.32
+0.11%
132.17
+0.00%
132.17
+0.00%
132.17
Additional Paid In Capital
373.45
+82.83%
204.26
—
—
Retained Earnings
9.03
+208.30%
-8.34
+60.37%
-21.04
+17.16%
-25.40
Gains Losses Not Affecting Retained Earnings
0.07
+0.00%
0.07
-1.72%
0.08
+0.56%
0.08
Other Equity Adjustments
0.07
+0.00%
0.07
—
—
Total Equity Gross Minority Interest
382.69
+95.25%
196.00
+7.42%
182.46
+2.74%
177.60
Total Capitalization
878.00
+60.24%
547.92
+9.48%
500.48
+0.53%
497.83
Working Capital
202.74
+132.75%
87.10
+23.33%
70.62
+14.97%
61.43
Invested Capital
881.84
+58.87%
555.06
+9.53%
506.75
+0.53%
504.10
Total Debt
587.31
+31.13%
447.87
+9.41%
409.33
+1.43%
403.58
Net Debt
465.19
+33.86%
347.53
+9.00%
318.83
-0.33%
319.88
Capital Lease Obligations
88.16
-0.73%
88.81
+4.43%
85.04
+10.34%
77.08
Net Tangible Assets
-255.71
-7.40%
-238.10
+43.95%
-424.83
+3.28%
-439.24
Tangible Book Value
-255.71
-7.40%
-238.10
+1.76%
-242.37
+7.36%
-261.64
Available For Sale Securities
—
—
—
0.56
Investmentin Financial Assets
—
—
0.00
-100.00%
0.56
Limited Partnership Capital
—
204.26
+0.41%
203.42
+0.25%
202.92
Total Partnership Capital
—
196.00
+7.42%
182.46
+2.74%
177.60
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
-22.12
-183.01%
26.64
+31.08%
20.33
+444.95%
-5.89
Cash Flow From Continuing Operating Activities
-22.12
-183.01%
26.64
+31.08%
20.33
+444.95%
-5.89
Net Income From Continuing Operations
17.37
+36.73%
12.70
+191.37%
4.36
+130.92%
-14.10
Depreciation Amortization Depletion
42.74
+30.31%
32.80
+20.67%
27.18
-22.31%
34.98
Depreciation And Amortization
42.74
+30.31%
32.80
+20.67%
27.18
-22.31%
34.98
Other Non Cash Items
-0.86
-153.17%
1.62
-41.41%
2.77
-0.17%
2.77
Stock Based Compensation
1.41
+41.99%
0.99
-23.08%
1.29
-19.46%
1.60
Deferred Tax
10.52
+191.36%
-11.51
-7.50%
-10.71
-9.19%
-9.81
Deferred Income Tax
10.52
+191.36%
-11.51
-7.50%
-10.71
-9.19%
-9.81
Change In Working Capital
-93.28
-836.78%
-9.96
-118.14%
-4.57
+78.62%
-21.35
Change In Receivables
-67.43
-231.42%
-20.35
+34.08%
-30.87
+11.38%
-34.83
Changes In Account Receivables
-18.36
-694.72%
-2.31
+23.08%
-3.00
+86.17%
-21.71
Change In Inventory
2.86
+6595.45%
-0.04
-100.58%
7.57
+249.35%
2.17
Change In Prepaid Assets
6.87
+146.28%
-14.85
+5.42%
-15.70
-78.96%
-8.77
Change In Payables And Accrued Expense
-28.53
-189.78%
31.78
+123.38%
14.23
+25.67%
11.32
Change In Accrued Expense
-11.65
0.00
0.00
—
Change In Payable
-16.88
-153.12%
31.78
+123.38%
14.23
+25.67%
11.32
Change In Account Payable
-16.88
-153.12%
31.78
+123.38%
14.23
+25.67%
11.32
Change In Other Working Capital
-7.05
-8.45%
-6.50
-132.17%
20.20
+130.44%
8.77
Investing Cash Flow
-238.27
-415.34%
-46.24
-185.20%
-16.21
+23.74%
-21.26
Cash Flow From Continuing Investing Activities
-238.27
-415.34%
-46.24
-185.20%
-16.21
+23.74%
-21.26
Net PPE Purchase And Sale
-20.34
-36.06%
-14.95
+10.90%
-16.77
+21.13%
-21.27
Purchase Of PPE
-20.34
-33.33%
-15.25
+9.08%
-16.77
+21.13%
-21.27
Sale Of PPE
0.00
-100.00%
0.31
0.00
0.00
Capital Expenditure
-20.34
-33.33%
-15.25
+9.08%
-16.77
+21.13%
-21.27
Net Investment Purchase And Sale
-6.00
0.00
-100.00%
0.56
+5301.52%
0.01
Purchase Of Investment
-6.00
0.00
0.00
—
Sale Of Investment
0.00
0.00
-100.00%
0.56
+5301.52%
0.01
Net Business Purchase And Sale
-211.94
-577.33%
-31.29
0.00
0.00
Purchase Of Business
-211.94
-577.33%
-31.29
0.00
0.00
Financing Cash Flow
282.82
+1001.92%
25.67
+585.55%
-5.29
-131.59%
16.73
Cash Flow From Continuing Financing Activities
282.82
+1001.92%
25.67
+585.55%
-5.29
-131.59%
16.73
Net Issuance Payments Of Debt
136.79
+395.89%
27.58
+1473.53%
1.75
+111.74%
-14.93
Issuance Of Debt
535.00
+599.35%
76.50
+84.18%
41.53
+137.34%
17.50
Repayment Of Debt
-398.21
-714.08%
-48.92
-22.96%
-39.78
-22.65%
-32.43
Long Term Debt Issuance
535.00
+599.35%
76.50
+84.18%
41.53
+137.34%
17.50
Long Term Debt Payments
-398.21
-714.08%
-48.92
-22.96%
-39.78
-22.65%
-32.43
Net Long Term Debt Issuance
136.79
+395.89%
27.58
+1473.53%
1.75
+111.74%
-14.93
Net Common Stock Issuance
154.84
0.00
0.00
-100.00%
31.66
Common Stock Payments
—
-0.16
+80.23%
-0.79
-621.15%
-0.11
Common Stock Dividend Paid
—
-0.16
+80.23%
-0.79
-621.52%
-0.11
Cash Dividends Paid
—
-0.16
+80.23%
-0.79
-621.52%
-0.11
Repurchase Of Capital Stock
—
-0.16
+80.23%
-0.79
-621.15%
-0.11
Net Other Financing Charges
-8.80
-399.60%
-1.76
+71.81%
-6.25
-119.67%
31.77
Changes In Cash
22.43
+269.20%
6.08
+618.79%
-1.17
+88.76%
-10.42
Beginning Cash Position
11.53
+111.37%
5.46
-17.67%
6.63
-61.13%
17.05
End Cash Position
33.96
+194.53%
11.53
+111.37%
5.46
-17.67%
6.63
Free Cash Flow
-42.45
-472.64%
11.39
+220.75%
3.55
+113.08%
-27.16
Interest Paid Supplemental Data
44.82
-6.36%
47.87
+4.30%
45.90
+28.83%
35.62
Income Tax Paid Supplemental Data
16.92
—
3.10
-37.25%
4.94
Common Stock Issuance
154.84
0.00
0.00
-100.00%
31.77
Issuance Of Capital Stock
154.84
0.00
0.00
-100.00%
31.77
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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