Kratos Defense & Security Solutions (KTOS) Financials

$35.88 -0.41 (-1.13%)

Closing price 05/5/2025 04:00 PM Eastern

Extended Trading

$35.26 -0.62 (-1.74%)

As of 07:35 AM Eastern

Annual Income Statements for Kratos Defense & Security Solutions

This table shows Kratos Defense & Security Solutions' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/27/2015	12/25/2016	12/31/2017	12/30/2018	12/29/2019	12/27/2020	12/26/2021	12/25/2022	12/31/2023	12/29/2024
Net Income / (Loss) Attributable to Common Shareholders	20	-61	-43	-3.50	13	80	-2.00	-37	-8.90	16
Consolidated Net Income / (Loss)	20	-61	-43	-3.50	13	79	-1.60	-33	2.40	16
Net Income / (Loss) Continuing Operations	-33	-58	-47	4.10	11	80	0.50	-33	2.40	16
Total Pre-Tax Income	-45	-52	-57	8.70	16	6.80	4.40	-33	11	27
Total Operating Income	-4.50	-18	-12	31	38	29	28	-2.90	31	29
Total Gross Profit	162	-421	-446	-448	190	203	225	226	269	287
Total Revenue	657	0.00	0.00	0.00	718	748	812	898	1,037	1,136
Operating Revenue	657	-	-	-	718	748	812	898	1,037	1,136
Total Cost of Revenue	495	421	446	448	528	545	586	672	769	849
Operating Cost of Revenue	495	421	446	448	528	545	586	672	769	849
Total Operating Expenses	166	-403	-434	-479	152	174	197	229	238	258
Selling, General & Admin Expense	151	115	127	120	131	145	160	183	198	214
Research & Development Expense	16	14	18	16	18	27	35	39	38	40
Restructuring Charge	0.10	-	0.00	0.00	3.20	1.70	1.80	7.50	1.30	3.90
Total Other Income / (Expense), net	-40	-34	-45	-22	-22	-23	-24	-30	-20	-2.50
Interest Expense	3.40	-0.20	17	-	-	0.00	0.00	13	0.00	0.00
Interest & Investment Income	-36	-35	-29	-21	-22	-23	-23	-18	-21	-3.00
Other Income / (Expense), net	-0.70	0.70	0.80	-1.00	-0.70	0.30	-0.10	0.60	0.50	0.50
Income Tax Expense	-11	5.80	-10	4.60	4.80	-74	3.90	0.20	8.70	10
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	0.00	0.00	0.10	-0.20	0.40	3.70	11	0.00
Basic Earnings per Share	$0.34	($0.99)	($0.48)	($0.03)	$0.12	$0.69	($0.02)	($0.29)	($0.07)	$0.11
Weighted Average Basic Shares Outstanding	58.70M	61.30M	89.50M	103.80M	106M	115.50M	124.60M	126.70M	130.40M	149M
Diluted Earnings per Share	$0.34	($0.99)	($0.48)	($0.03)	$0.11	$0.67	($0.02)	($0.29)	($0.07)	$0.11
Weighted Average Diluted Shares Outstanding	58.70M	61.30M	89.50M	106.10M	109.20M	118.70M	128M	126.70M	130.40M	150.90M
Weighted Average Basic & Diluted Shares Outstanding	58.20M	61.10M	89M	104.05M	106.94M	123.46M	124.64M	126.66M	130.00M	152.84M

This table shows Kratos Defense & Security Solutions' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/25/2022	12/25/2022	3/26/2023	6/25/2023	10/1/2023	12/31/2023	3/31/2024	6/30/2024	9/29/2024	12/29/2024
Net Income / (Loss) Attributable to Common Shareholders	-8.00	-8.30	-7.00	-2.70	-1.60	2.40	1.30	7.90	3.20	3.90
Consolidated Net Income / (Loss)	-8.00	-4.90	-5.80	-0.40	3.00	5.60	1.30	7.90	3.20	3.90
Net Income / (Loss) Continuing Operations	-8.00	-4.20	-5.80	-0.40	3.00	5.60	1.30	7.90	3.20	3.90
Total Pre-Tax Income	-8.80	0.60	-5.10	1.80	6.80	7.60	4.00	13	5.80	4.00
Total Operating Income	-3.60	3.80	0.50	6.70	12	12	7.00	13	6.50	3.00
Total Gross Profit	55	61	59	64	73	72	71	77	69	70
Total Revenue	229	249	232	257	275	274	277	300	276	283
Operating Revenue	229	249	232	257	275	274	277	300	276	283
Total Cost of Revenue	174	188	172	193	201	202	206	223	207	213
Operating Cost of Revenue	174	188	172	193	201	202	206	223	207	213
Total Operating Expenses	59	58	59	57	61	60	64	65	63	67
Selling, General & Admin Expense	49	47	48	47	51	52	54	55	53	53
Research & Development Expense	9.60	11	10	9.90	10	8.00	9.60	10	9.90	11
Restructuring Charge	0.40	0.80	0.90	0.00	0.00	0.40	0.00	0.00	0.20	3.70
Total Other Income / (Expense), net	-5.20	-3.20	-5.60	-4.90	-5.40	-4.10	-3.00	0.20	-0.70	1.00
Interest & Investment Income	-4.10	-4.80	-5.30	-5.10	-5.10	-5.00	-2.80	0.10	0.00	-0.30
Other Income / (Expense), net	-1.10	1.60	-0.30	0.20	-0.30	0.90	-0.20	0.10	-0.70	1.30
Income Tax Expense	-0.80	4.80	0.70	2.20	3.80	2.00	2.70	4.80	2.60	0.10
Basic Earnings per Share	($0.06)	($0.07)	($0.05)	($0.02)	($0.01)	$0.01	$0.01	$0.05	$0.02	$0.03
Weighted Average Basic Shares Outstanding	127.20M	126.70M	128.10M	129.10M	129.60M	130.40M	139.60M	151.80M	152.60M	149M
Diluted Earnings per Share	-	-	($0.05)	($0.02)	($0.01)	$0.01	$0.01	$0.05	$0.02	$0.03
Weighted Average Diluted Shares Outstanding	127.20M	126.70M	128.10M	129.10M	129.60M	130.40M	141.50M	153.50M	154.10M	150.90M
Weighted Average Basic & Diluted Shares Outstanding	125.96M	126.66M	127.60M	128.06M	128.94M	130.00M	150.10M	151.00M	151.07M	152.84M

This table details how cash moves in and out of Kratos Defense & Security Solutions' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/27/2015	12/25/2016	12/31/2017	12/30/2018	12/29/2019	12/27/2020	12/26/2021	12/25/2022	12/31/2023	12/29/2024
Net Change in Cash & Equivalents	-5.00	40	60	113	-22	207	-57	-533	-19	515
Net Cash From Operating Activities	-30	-15	-27	10	30	45	31	-26	65	50
Net Cash From Continuing Operating Activities	-30	-15	-27	18	29	45	35	-26	65	50
Net Income / (Loss) Continuing Operations	-33	-58	-47	4.10	11	80	0.50	-33	2.40	16
Consolidated Net Income / (Loss)	20	-61	-43	-3.50	13	79	-1.60	-33	2.40	16
Depreciation Expense	26	23	22	18	23	25	26	31	33	40
Amortization Expense	3.00	2.40	2.00	1.00	13	10	10	11	12	12
Non-Cash Adjustments To Reconcile Net Income	-11	-4.40	20	-27	9.20	9.40	9.90	22	41	24
Changes in Operating Assets and Liabilities, net	-14	23	-25	22	-27	-80	-11	-57	-23	-43
Net Cash From Investing Activities	-5.70	-14	-25	41	-44	-87	-52	-177	-44	-70
Net Cash From Continuing Investing Activities	-5.70	-14	-25	41	-44	-87	-52	-177	-44	-70
Purchase of Property, Plant & Equipment	-11	-9.00	-26	-23	-26	-36	-47	-45	-52	-58
Acquisitions	0.00	-5.10	0.00	-2.90	-18	-52	-12	-132	0.30	-12
Sale of Property, Plant & Equipment	0.90	0.00	0.70	66	0.30	0.10	2.20	0.20	8.30	0.00
Net Cash From Financing Activities	-215	63	113	1.70	3.50	248	-9.30	-63	-31	278
Net Cash From Continuing Financing Activities	-215	63	113	1.70	3.50	248	-9.30	-63	-31	278
Repayment of Debt	-217	-15	-457	-0.90	0.00	-0.60	-5.10	-356	-101	-53
Issuance of Debt	0.00	0.00	300	0.00	0.00	5.10	0.00	300	69	10
Issuance of Common Equity	3.40	78	271	3.70	4.90	240	-	0.00	0.00	331
Other Financing Activities, net	-1.10	-	0.00	0.00	-1.40	2.80	-4.20	-7.70	1.30	-11
Other Net Changes in Cash	245	5.50	-1.40	60	-11	1.90	-26	-266	-9.30	258
Cash Interest Paid	44	32	28	21	20	20	20	14	20	15
Cash Income Taxes Paid	8.80	-0.10	-0.60	1.50	0.60	2.50	2.00	4.40	6.50	5.00

This table details how cash moves in and out of Kratos Defense & Security Solutions' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/25/2022	12/25/2022	3/26/2023	6/25/2023	10/1/2023	12/31/2023	3/31/2024	6/30/2024	9/29/2024	12/29/2024
Net Change in Cash & Equivalents	-236	-91	-35	1.20	-5.50	21	267	-31	-7.60	287
Net Cash From Operating Activities	-2.70	6.90	-26	24	-	67	0.70	-2.70	6.10	46
Net Cash From Continuing Operating Activities	-2.80	6.60	-26	24	-	67	0.70	-2.70	6.10	46
Net Income / (Loss) Continuing Operations	-8.00	-4.20	-5.80	-0.40	3.00	5.60	1.30	7.90	3.20	3.90
Consolidated Net Income / (Loss)	-8.00	-4.90	-5.80	-0.40	3.00	5.60	1.30	7.90	3.20	3.90
Depreciation Expense	8.90	7.70	7.90	7.90	8.20	9.20	9.30	10	10	10
Amortization Expense	2.70	2.80	2.90	2.90	3.20	3.20	3.20	3.10	3.00	3.00
Non-Cash Adjustments To Reconcile Net Income	2.40	2.20	24	-11	16	12	-3.60	-8.00	-11	47
Changes in Operating Assets and Liabilities, net	-8.80	-1.90	-55	25	-30	37	-9.50	-16	0.90	-18
Net Cash From Investing Activities	-13	-11	-7.70	-2.90	-14	-19	-17	-24	-15	-14
Net Cash From Continuing Investing Activities	-13	-11	-7.70	-2.90	-14	-19	-17	-24	-15	-14
Purchase of Property, Plant & Equipment	-13	-11	-7.70	-11	-14	-19	-17	-13	-15	-14
Net Cash From Financing Activities	0.80	-42	-1.40	-19	8.70	-19	283	-3.60	1.60	-3.00
Net Cash From Continuing Financing Activities	0.80	-42	-1.40	-19	8.70	-19	283	-3.60	1.60	-3.00
Repayment of Debt	-1.20	-41	-16	-37	-14	-33	-46	-1.20	-2.50	-2.50
Other Financing Activities, net	2.00	-0.50	-0.10	-1.20	3.00	-0.40	-12	-2.40	4.10	-0.50

This table presents Kratos Defense & Security Solutions' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/27/2015	12/25/2016	12/31/2017	12/30/2018	12/29/2019	12/27/2020	12/26/2021	12/25/2022	12/31/2023	12/29/2024
Total Assets	903	949	1,024	1,010	1,186	1,563	1,590	1,552	1,633	1,951
Total Current Assets	320	373	471	495	522	765	758	583	594	872
Cash & Equivalents	29	69	131	183	173	381	349	81	73	329
Accounts Receivable	207	229	212	237	264	272	285	329	329	324
Inventories, net	56	55	49	47	61	81	92	126	156	162
Prepaid Expenses	11	8.90	11	8.90	9.40	12	9.80	12	16	18
Other Current Assets	14	5.20	9.50	10	11	18	23	35	20	39
Plant, Property, & Equipment, net	56	50	58	67	0.00	0.00	0.00	0.00	244	288
Total Noncurrent Assets	527	526	495	448	664	798	831	969	795	791
Goodwill	483	485	426	426	456	484	494	558	569	569
Intangible Assets	37	33	22	16	40	43	43	55	62	54
Other Noncurrent Operating Assets	6.80	7.70	8.10	6.50	169	271	294	356	163	168
Total Liabilities & Shareholders' Equity	903	949	1,024	1,010	1,186	1,563	1,590	1,552	1,633	1,951
Total Liabilities	649	672	513	491	597	623	629	604	634	598
Total Current Liabilities	172	197	189	165	183	198	221	234	293	297
Accounts Payable	48	53	35	47	54	55	50	57	63	82
Accrued Expenses	33	50	41	38	33	35	27	34	35	39
Current Deferred Revenue	42	42	43	35	34	34	58	62	102	76
Current Employee Benefit Liabilities	37	39	30	34	37	48	47	52	65	72
Other Current Liabilities	5.10	6.70	9.40	4.70	20	21	36	26	28	28
Total Noncurrent Liabilities	477	476	324	326	414	425	408	370	342	301
Long-Term Debt	444	431	294	294	295	301	297	250	219	175
Other Noncurrent Operating Liabilities	18	24	24	26	116	83	76	77	122	126
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	0.00	15	15	15	11	23	0.00
Total Equity & Noncontrolling Interests	254	276	512	519	574	925	945	936	976	1,353
Total Preferred & Common Equity	254	276	512	519	574	925	945	936	976	1,353
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	254	276	512	519	574	925	945	936	976	1,353
Common Stock	873	956	1,234	1,245	1,287	1,556	1,579	1,608	1,655	2,018
Retained Earnings	-618	-678	-721	-725	-712	-632	-634	-671	-680	-664
Accumulated Other Comprehensive Income / (Loss)	-1.40	-1.70	-1.40	-0.70	-0.40	1.40	0.60	-0.80	1.70	-0.50

This table presents Kratos Defense & Security Solutions' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/25/2022	3/26/2023	6/25/2023	10/1/2023	3/31/2024	6/30/2024	9/29/2024
Total Assets	1,568	1,557	1,563	1,591	1,915	1,914	1,912
Total Current Assets	601	588	588	604	872	851	838
Cash & Equivalents	125	47	48	42	339	308	302
Accounts Receivable	302	354	338	352	326	338	319
Inventories, net	120	134	146	150	160	155	159
Prepaid Expenses	14	14	13	18	27	29	37
Other Current Assets	40	39	43	42	20	21	22
Plant, Property, & Equipment, net	218	214	0.00	227	251	0.00	281
Total Noncurrent Assets	749	755	975	759	792	1,063	794
Goodwill	552	558	558	558	569	569	569
Intangible Assets	62	54	52	51	60	58	56
Other Noncurrent Operating Assets	135	144	365	150	163	436	169
Total Liabilities & Shareholders' Equity	1,568	1,557	1,563	1,591	1,915	1,914	1,912
Total Liabilities	625	614	603	618	586	585	570
Total Current Liabilities	214	245	251	263	288	272	261
Accounts Payable	54	55	58	57	62	59	61
Accrued Expenses	30	36	41	40	36	35	40
Current Deferred Revenue	49	65	73	79	98	81	62
Current Employee Benefit Liabilities	55	56	54	55	61	63	61
Other Current Liabilities	15	30	22	28	30	33	36
Other Current Nonoperating Liabilities	1.20	2.40	2.40	2.70	1.40	1.10	1.20
Total Noncurrent Liabilities	411	369	352	355	298	313	309
Long-Term Debt	293	250	232	234	179	180	177
Capital Lease Obligations	35	40	41	43	35	34	32
Other Noncurrent Operating Liabilities	82	77	77	77	83	99	100
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	7.80	12	15	19	23	0.00	0.00
Total Equity & Noncontrolling Interests	935	931	946	953	1,306	1,329	1,343
Total Preferred & Common Equity	935	931	946	953	1,306	1,329	1,343
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	935	931	946	953	1,306	1,329	1,343
Common Stock	1,602	1,610	1,624	1,634	1,983	1,999	2,010
Retained Earnings	-663	-678	-681	-683	-679	-671	-668
Accumulated Other Comprehensive Income / (Loss)	-3.70	-0.50	2.90	2.50	2.10	1.50	0.30

This table displays calculated financial ratios and metrics derived from Kratos Defense & Security Solutions' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/27/2015	12/25/2016	12/31/2017	12/30/2018	12/29/2019	12/27/2020	12/26/2021	12/25/2022	12/31/2023	12/29/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-13.88%	-100.00%	0.00%	0.00%	0.00%	4.21%	8.53%	10.70%	15.45%	9.57%
EBITDA Growth	-43.45%	-67.38%	71.05%	272.31%	51.65%	-11.99%	-1.70%	-37.95%	95.43%	6.62%
EBIT Growth	-180.00%	-232.69%	35.26%	363.39%	26.44%	-20.64%	-6.08%	-108.27%	1,473.91%	-6.65%
NOPAT Growth	-184.91%	-300.00%	33.33%	271.11%	83.55%	1,211.49%	-99.08%	-164.03%	431.25%	165.27%
Net Income Growth	125.38%	-405.56%	29.42%	91.80%	460.00%	530.16%	-102.02%	-1,975.00%	107.23%	579.17%
EPS Growth	125.19%	-391.18%	51.52%	93.75%	466.67%	509.09%	-102.99%	-1,350.00%	75.86%	257.14%
Operating Cash Flow Growth	-1,288.00%	50.84%	-84.25%	138.66%	188.46%	49.00%	-31.10%	-183.44%	353.70%	-23.77%
Free Cash Flow Firm Growth	-105.17%	273.57%	30.46%	-129.29%	-619.04%	389.55%	-123.38%	-494.96%	110.43%	-256.93%
Invested Capital Growth	1.22%	-4.75%	-5.26%	3.57%	12.67%	26.44%	4.40%	22.84%	-1.38%	4.67%
Revenue Q/Q Growth	1.53%	-100.00%	100.00%	100.00%	0.00%	-31.40%	-16.79%	4.38%	2.42%	0.83%
EBITDA Q/Q Growth	-17.08%	65.22%	-60.96%	100.83%	6.69%	-3.58%	0.95%	-4.60%	12.90%	-8.27%
EBIT Q/Q Growth	-79.31%	18.40%	-221.74%	637.50%	-1.84%	-3.27%	0.72%	-291.67%	27.94%	-21.96%
NOPAT Q/Q Growth	-36.36%	17.05%	-246.34%	336.89%	-12.34%	1,664.00%	-99.40%	-216.00%	115.17%	-19.99%
Net Income Q/Q Growth	-8.76%	-0.33%	-72.18%	88.49%	-14.29%	1,885.00%	-102.03%	-7.79%	129.63%	-9.44%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-15.38%	2,133.33%	-103.03%	0.00%	0.00%	22.22%
Operating Cash Flow Q/Q Growth	-395.00%	2.67%	-17.98%	92.59%	15.38%	121.29%	-45.96%	27.20%	1,287.23%	-30.49%
Free Cash Flow Firm Q/Q Growth	-105.68%	-26.52%	197.87%	-114.94%	-22.43%	317.38%	-108.54%	16.80%	123.52%	-98.06%
Invested Capital Q/Q Growth	-1.03%	0.40%	-9.38%	0.87%	1.66%	13.73%	5.54%	0.16%	-5.49%	-4.26%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	24.62%	0.00%	0.00%	0.00%	26.48%	27.18%	27.74%	25.16%	25.90%	25.28%
EBITDA Margin	3.55%	0.00%	0.00%	0.00%	10.23%	8.64%	7.83%	4.39%	7.42%	7.23%
Operating Margin	-0.68%	0.00%	0.00%	0.00%	5.30%	3.92%	3.44%	-0.32%	3.00%	2.55%
EBIT Margin	-0.79%	0.00%	0.00%	0.00%	5.20%	3.96%	3.43%	-0.26%	3.05%	2.60%
Profit (Net Income) Margin	3.01%	0.00%	0.00%	0.00%	1.76%	10.62%	-0.20%	-3.70%	0.23%	1.43%
Tax Burden Percent	-44.39%	116.80%	74.78%	-40.23%	80.25%	1,167.65%	-36.36%	100.61%	21.62%	61.51%
Interest Burden Percent	857.69%	299.42%	509.82%	29.49%	42.09%	22.97%	15.83%	1,434.78%	35.13%	89.83%
Effective Tax Rate	0.00%	0.00%	0.00%	52.87%	30.57%	-1,080.88%	88.64%	0.00%	78.38%	38.49%
Return on Invested Capital (ROIC)	-0.47%	0.00%	0.00%	0.00%	3.90%	42.68%	0.34%	-0.19%	0.58%	1.52%
ROIC Less NNEP Spread (ROIC-NNEP)	4.79%	0.00%	0.00%	0.00%	-7.43%	-536.25%	19.42%	-31.63%	-1.82%	39.03%
Return on Net Nonoperating Assets (RNNOA)	8.74%	0.00%	0.00%	0.00%	-1.63%	-32.30%	-0.51%	-3.29%	-0.34%	-0.14%
Return on Equity (ROE)	8.28%	-22.80%	-10.84%	-0.68%	2.27%	10.38%	-0.17%	-3.48%	0.25%	1.39%
Cash Return on Invested Capital (CROIC)	-1.68%	2.97%	4.08%	-1.21%	-8.01%	19.33%	-3.96%	-20.70%	1.97%	-3.04%
Operating Return on Assets (OROA)	-0.51%	0.00%	0.00%	0.00%	3.40%	2.15%	1.76%	-0.15%	1.98%	1.65%
Return on Assets (ROA)	1.95%	0.00%	0.00%	0.00%	1.15%	5.78%	-0.10%	-2.11%	0.15%	0.91%
Return on Common Equity (ROCE)	8.28%	-22.80%	-10.84%	-0.68%	2.24%	10.18%	-0.17%	-3.43%	0.24%	1.37%
Return on Equity Simple (ROE_SIMPLE)	7.79%	-21.89%	-8.35%	-0.67%	2.19%	8.58%	-0.17%	-3.55%	0.25%	1.20%
Net Operating Profit after Tax (NOPAT)	-3.15	-13	-8.40	14	26	346	3.17	-2.03	6.72	18
NOPAT Margin	-0.48%	0.00%	0.00%	0.00%	3.68%	46.28%	0.39%	-0.23%	0.65%	1.57%
Net Nonoperating Expense Percent (NNEP)	-5.26%	12.02%	14.49%	16.38%	11.34%	578.93%	-19.08%	31.44%	2.40%	-37.51%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-0.17%	0.56%	1.17%
Cost of Revenue to Revenue	75.38%	0.00%	0.00%	0.00%	73.52%	72.82%	72.26%	74.84%	74.10%	74.73%
SG&A Expenses to Revenue	22.93%	0.00%	0.00%	0.00%	18.23%	19.33%	19.74%	20.35%	19.07%	18.83%
R&D to Revenue	2.47%	0.00%	0.00%	0.00%	2.51%	3.61%	4.34%	4.30%	3.70%	3.55%
Operating Expenses to Revenue	25.31%	0.00%	0.00%	0.00%	21.18%	23.26%	24.30%	25.48%	22.90%	22.72%
Earnings before Interest and Taxes (EBIT)	-5.20	-17	-11	30	37	30	28	-2.30	32	30
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	23	7.60	13	48	73	65	64	39	77	82
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.97	1.64	2.14	2.75	3.29	3.50	2.60	1.27	2.68	2.96
Price to Tangible Book Value (P/TBV)	0.00	0.00	17.15	18.41	23.90	8.13	6.03	3.68	7.59	5.48
Price to Revenue (P/Rev)	0.37	0.00	0.00	0.00	2.63	4.33	3.03	1.32	2.52	3.53
Price to Earnings (P/E)	12.41	0.00	0.00	0.00	151.07	40.71	0.00	0.00	0.00	245.80
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	8.06%	0.00%	0.00%	0.00%	0.66%	2.46%	0.00%	0.00%	0.00%	0.41%
Enterprise Value to Invested Capital (EV/IC)	0.97	1.26	2.05	2.42	2.83	3.55	2.60	1.21	2.43	3.21
Enterprise Value to Revenue (EV/Rev)	1.01	0.00	0.00	0.00	2.82	4.30	3.03	1.57	2.69	3.39
Enterprise Value to EBITDA (EV/EBITDA)	28.40	107.48	96.66	31.77	27.60	49.75	38.66	35.79	36.17	46.92
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	52.13	54.31	108.57	88.31	0.00	88.14	130.57
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	106.99	76.79	9.29	774.37	0.00	414.19	215.93
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	147.87	67.53	71.89	79.71	0.00	42.72	77.50
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	41.47	48.89	0.00	0.00	20.51	0.00	0.00	122.56	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.75	1.56	0.57	0.57	0.50	0.36	0.34	0.31	0.22	0.13
Long-Term Debt to Equity	1.75	1.56	0.57	0.57	0.50	0.36	0.34	0.31	0.22	0.13
Financial Leverage	1.83	1.50	0.60	0.21	0.22	0.06	-0.03	0.10	0.19	0.00
Leverage Ratio	4.25	3.49	2.50	1.97	1.98	1.80	1.66	1.65	1.64	1.52
Compound Leverage Factor	36.47	10.45	12.76	0.58	0.83	0.41	0.26	23.62	0.57	1.37
Debt to Total Capital	63.65%	60.98%	36.46%	36.16%	33.37%	26.54%	25.54%	23.50%	18.01%	11.43%
Short-Term Debt to Total Capital	0.14%	0.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	63.51%	60.84%	36.46%	36.16%	33.37%	26.54%	25.54%	23.50%	18.01%	11.43%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	1.70%	1.16%	1.18%	0.90%	1.85%	0.00%
Common Equity to Total Capital	36.35%	39.02%	63.54%	63.84%	64.93%	72.31%	73.28%	75.60%	80.14%	88.57%
Debt to EBITDA	19.10	56.84	22.58	6.08	4.02	5.26	5.19	7.39	2.85	2.13
Net Debt to EBITDA	17.85	47.68	12.51	2.30	1.67	-0.65	-0.32	5.32	1.90	-1.88
Long-Term Debt to EBITDA	19.06	56.71	22.58	6.08	4.02	5.26	5.19	7.39	2.85	2.13
Debt to NOPAT	-141.30	-34.29	-34.94	20.47	11.19	0.98	103.90	-143.35	32.61	9.79
Net Debt to NOPAT	-132.03	-28.76	-19.36	7.74	4.64	-0.12	-6.31	-103.30	21.79	-8.67
Long-Term Debt to NOPAT	-140.98	-34.21	-34.94	20.47	11.19	0.98	103.90	-143.35	32.61	9.79
Altman Z-Score	0.18	-0.43	0.59	1.23	2.11	3.53	2.76	1.42	2.81	4.53
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	1.35%	1.95%	1.58%	1.38%	1.73%	0.96%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.86	1.90	2.50	3.00	2.86	3.87	3.43	2.49	2.03	2.94
Quick Ratio	1.36	1.52	1.81	2.55	2.39	3.31	2.87	1.75	1.37	2.20
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-11	20	26	-7.53	-54	157	-37	-218	23	-36
Operating Cash Flow to CapEx	-285.58%	-162.22%	-105.91%	0.00%	115.38%	124.86%	69.53%	-56.86%	147.85%	85.40%
Free Cash Flow to Firm to Interest Expense	-3.34	0.00	1.49	0.00	0.00	0.00	0.00	-16.76	0.00	0.00
Operating Cash Flow to Interest Expense	-8.74	0.00	-1.55	0.00	0.00	0.00	0.00	-1.98	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-11.79	0.00	-3.02	0.00	0.00	0.00	0.00	-5.45	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.65	0.00	0.00	0.00	0.65	0.54	0.51	0.57	0.65	0.63
Accounts Receivable Turnover	3.10	0.00	0.00	0.00	2.86	2.79	2.91	2.93	3.15	3.48
Inventory Turnover	9.62	7.59	8.54	9.36	9.78	7.65	6.78	6.19	5.46	5.34
Fixed Asset Turnover	11.16	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	4.27
Accounts Payable Turnover	10.66	8.34	10.20	11.03	10.51	9.97	11.09	12.48	12.77	11.70
Days Sales Outstanding (DSO)	117.84	0.00	0.00	0.00	127.64	131.00	125.26	124.58	115.74	104.88
Days Inventory Outstanding (DIO)	37.95	48.07	42.75	39.00	37.33	47.69	53.81	58.96	66.90	68.41
Days Payable Outstanding (DPO)	34.23	43.74	35.79	33.10	34.74	36.60	32.93	29.24	28.59	31.19
Cash Conversion Cycle (CCC)	121.56	0.00	0.00	0.00	130.23	142.09	146.15	154.30	154.04	142.10
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	680	648	614	636	716	905	945	1,161	1,145	1,199
Invested Capital Turnover	0.97	0.00	0.00	0.00	1.06	0.92	0.88	0.85	0.90	0.97
Increase / (Decrease) in Invested Capital	8.20	-32	-34	22	81	189	40	216	-16	54
Enterprise Value (EV)	662	817	1,257	1,538	2,026	3,214	2,455	1,410	2,785	3,852
Market Capitalization	246	454	1,094	1,427	1,888	3,241	2,460	1,189	2,616	4,006
Book Value per Share	$4.30	$4.57	$4.95	$5.01	$5.40	$7.54	$7.62	$7.43	$7.57	$8.96
Tangible Book Value per Share	($4.50)	($3.99)	$0.62	$0.75	$0.74	$3.25	$3.29	$2.56	$2.67	$4.84
Total Capital	699	708	805	814	884	1,280	1,290	1,239	1,218	1,528
Total Debt	445	432	294	294	295	340	329	291	219	175
Total Long-Term Debt	444	431	294	294	295	340	329	291	219	175
Net Debt	416	362	163	111	123	-42	-20	210	147	-155
Capital Expenditures (CapEx)	10	9.00	25	-43	26	36	44	45	44	58
Debt-free, Cash-free Net Working Capital (DFCFNWC)	120	108	152	147	167	186	188	267	229	246
Debt-free Net Working Capital (DFNWC)	149	178	283	330	340	567	537	348	302	575
Net Working Capital (NWC)	148	177	283	330	340	567	537	348	302	575
Net Nonoperating Expense (NNE)	-23	48	34	18	14	267	4.77	31	4.32	1.54
Net Nonoperating Obligations (NNO)	426	371	102	116	127	-35	-15	214	147	-155
Total Depreciation and Amortization (D&A)	29	25	24	19	36	35	36	42	45	53
Debt-free, Cash-free Net Working Capital to Revenue	18.23%	0.00%	0.00%	0.00%	23.26%	24.84%	23.12%	29.73%	22.07%	21.66%
Debt-free Net Working Capital to Revenue	22.68%	0.00%	0.00%	0.00%	47.32%	75.86%	66.17%	38.78%	29.09%	50.64%
Net Working Capital to Revenue	22.52%	0.00%	0.00%	0.00%	47.32%	75.86%	66.17%	38.78%	29.09%	50.64%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.34	($0.99)	($0.48)	($0.03)	$0.12	$0.69	($0.02)	($0.29)	($0.07)	$0.11
Adjusted Weighted Average Basic Shares Outstanding	58.70M	61.30M	89.50M	103.80M	106M	115.50M	124.60M	126.70M	130.40M	149M
Adjusted Diluted Earnings per Share	$0.34	($0.99)	($0.48)	($0.03)	$0.11	$0.67	($0.02)	($0.29)	($0.07)	$0.11
Adjusted Weighted Average Diluted Shares Outstanding	58.70M	61.30M	89.50M	106.10M	109.20M	118.70M	128M	126.70M	130.40M	150.90M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	59.58M	74.53M	103.51M	104.05M	106.94M	123.46M	124.64M	126.66M	130.00M	152.84M
Normalized Net Operating Profit after Tax (NOPAT)	-3.57	-5.60	8.75	24	29	22	21	3.22	23	20
Normalized NOPAT Margin	-0.54%	0.00%	0.00%	0.00%	3.99%	2.97%	2.56%	0.36%	2.19%	1.78%
Pre Tax Income Margin	-6.79%	0.00%	0.00%	0.00%	2.19%	0.91%	0.54%	-3.67%	1.07%	2.33%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-1.53	0.00	-0.65	0.00	0.00	0.00	0.00	-0.18	0.00	0.00
NOPAT to Interest Expense	-0.93	0.00	-0.49	0.00	0.00	0.00	0.00	-0.16	0.00	0.00
EBIT Less CapEx to Interest Expense	-4.59	0.00	-2.12	0.00	0.00	0.00	0.00	-3.65	0.00	0.00
NOPAT Less CapEx to Interest Expense	-3.99	0.00	-1.95	0.00	0.00	0.00	0.00	-3.63	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	-31.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Kratos Defense & Security Solutions' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/25/2022	12/25/2022	3/26/2023	6/25/2023	10/1/2023	12/31/2023	3/31/2024	6/30/2024	9/29/2024	12/29/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	13.96%	17.82%	18.14%	14.59%	20.12%	9.83%	19.59%	16.82%	0.47%	3.40%
EBITDA Growth	-63.68%	-10.67%	25.00%	126.92%	237.68%	57.23%	75.45%	47.46%	-18.03%	-29.60%
EBIT Growth	-144.76%	-39.33%	118.18%	463.16%	353.19%	133.33%	3,300.00%	82.61%	-51.26%	-65.87%
NOPAT Growth	-0.36%	-478.26%	141.67%	-11.95%	313.59%	132.41%	550.00%	622.24%	-33.37%	-66.07%
Net Income Growth	-321.05%	-96.00%	63.52%	90.91%	137.50%	214.29%	122.41%	2,075.00%	6.67%	-30.36%
EPS Growth	0.00%	0.00%	58.33%	50.00%	0.00%	0.00%	120.00%	350.00%	300.00%	200.00%
Operating Cash Flow Growth	-121.95%	355.56%	-229.49%	206.33%	0.00%	876.81%	102.72%	-111.49%	0.00%	-32.34%
Free Cash Flow Firm Growth	-160.97%	-446.17%	5.77%	81.11%	82.38%	110.15%	91.92%	18.40%	21.75%	-305.41%
Invested Capital Growth	29.45%	22.84%	14.99%	4.09%	4.51%	-1.38%	1.24%	3.96%	3.33%	4.67%
Revenue Q/Q Growth	1.96%	9.06%	-7.02%	10.83%	6.89%	-0.29%	1.24%	8.26%	-8.06%	2.61%
EBITDA Q/Q Growth	-11.54%	130.43%	-32.10%	60.91%	31.64%	7.30%	-22.80%	35.23%	-26.82%	-7.85%
EBIT Q/Q Growth	-147.37%	214.89%	-96.49%	3,350.00%	72.46%	5.88%	-46.03%	85.29%	-53.97%	-25.86%
NOPAT Q/Q Growth	-89.47%	-955.56%	101.51%	-525.40%	461.50%	60.17%	-72.63%	241.78%	-53.88%	-18.44%
Net Income Q/Q Growth	-81.82%	38.75%	-18.37%	93.10%	850.00%	86.67%	-76.79%	507.69%	-59.49%	21.88%
EPS Q/Q Growth	0.00%	0.00%	0.00%	60.00%	50.00%	200.00%	0.00%	400.00%	-60.00%	50.00%
Operating Cash Flow Q/Q Growth	87.78%	355.56%	-472.46%	191.44%	0.00%	0.00%	-98.96%	-485.71%	325.93%	647.54%
Free Cash Flow Firm Q/Q Growth	-4.35%	8.91%	35.20%	68.90%	2.64%	152.48%	17.53%	-213.97%	6.64%	-37.75%
Invested Capital Q/Q Growth	1.51%	0.16%	2.58%	-0.19%	1.92%	-5.49%	1.80%	2.49%	1.29%	-4.26%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	24.02%	24.63%	25.63%	24.87%	26.73%	26.26%	25.61%	25.72%	25.08%	24.66%
EBITDA Margin	3.02%	6.38%	4.75%	6.89%	8.49%	9.13%	6.96%	8.70%	6.92%	6.22%
Operating Margin	-1.57%	1.52%	0.22%	2.61%	4.44%	4.27%	2.53%	4.17%	2.36%	1.06%
EBIT Margin	-2.06%	2.17%	0.09%	2.69%	4.33%	4.60%	2.45%	4.20%	2.10%	1.52%
Profit (Net Income) Margin	-3.50%	-1.97%	-2.50%	-0.16%	1.09%	2.05%	0.47%	2.63%	1.16%	1.38%
Tax Burden Percent	90.91%	-816.67%	113.73%	-22.22%	44.12%	73.68%	32.50%	62.20%	55.17%	97.50%
Interest Burden Percent	187.23%	11.11%	-2,550.00%	26.09%	57.14%	60.32%	58.82%	100.79%	100.00%	93.02%
Effective Tax Rate	0.00%	800.00%	0.00%	122.22%	55.88%	26.32%	67.50%	37.80%	44.83%	2.50%
Return on Invested Capital (ROIC)	-0.92%	-9.10%	0.13%	-0.48%	1.67%	2.83%	0.74%	2.41%	1.19%	1.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-8.01%	12.78%	-3.54%	0.03%	0.63%	1.15%	-0.82%	2.59%	0.67%	-22.78%
Return on Net Nonoperating Assets (RNNOA)	-0.65%	1.33%	-0.63%	0.01%	0.15%	0.21%	-0.05%	0.15%	0.04%	0.08%
Return on Equity (ROE)	-1.58%	-7.77%	-0.50%	-0.47%	1.82%	3.05%	0.70%	2.56%	1.23%	1.08%
Cash Return on Invested Capital (CROIC)	-25.50%	-20.70%	-14.01%	-3.54%	-8.15%	1.97%	0.21%	-1.86%	-1.46%	-3.04%
Operating Return on Assets (OROA)	-1.12%	1.24%	0.05%	1.65%	2.78%	3.00%	1.53%	2.72%	1.35%	0.96%
Return on Assets (ROA)	-1.91%	-1.12%	-1.50%	-0.10%	0.70%	1.33%	0.29%	1.70%	0.75%	0.87%
Return on Common Equity (ROCE)	-1.56%	-7.67%	-0.49%	-0.47%	1.80%	2.99%	0.69%	2.54%	1.22%	1.07%
Return on Equity Simple (ROE_SIMPLE)	-3.29%	0.00%	-2.48%	-2.02%	-0.85%	0.00%	0.73%	1.34%	1.34%	0.00%
Net Operating Profit after Tax (NOPAT)	-2.52	-27	0.35	-1.49	5.38	8.62	2.28	7.78	3.59	2.93
NOPAT Margin	-1.10%	-10.67%	0.15%	-0.58%	1.96%	3.15%	0.82%	2.59%	1.30%	1.03%
Net Nonoperating Expense Percent (NNEP)	7.09%	-21.89%	3.67%	-0.51%	1.05%	1.68%	1.57%	-0.18%	0.52%	23.78%
Return On Investment Capital (ROIC_SIMPLE)	-	-2.17%	-	-	-	0.72%	-	-	-	0.19%
Cost of Revenue to Revenue	75.98%	75.37%	74.37%	75.13%	73.27%	73.74%	74.39%	74.28%	74.92%	75.34%
SG&A Expenses to Revenue	21.22%	18.65%	20.62%	18.41%	18.54%	18.92%	19.62%	18.16%	19.06%	18.54%
R&D to Revenue	4.20%	4.25%	4.40%	3.85%	3.75%	2.92%	3.46%	3.40%	3.59%	3.74%
Operating Expenses to Revenue	25.59%	23.10%	25.41%	22.27%	22.29%	21.99%	23.09%	21.56%	22.73%	23.60%
Earnings before Interest and Taxes (EBIT)	-4.70	5.40	0.20	6.90	12	13	6.80	13	5.80	4.30
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	6.90	16	11	18	23	25	19	26	19	18
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.51	1.27	1.81	1.87	2.02	2.68	0.00	2.26	2.62	2.96
Price to Tangible Book Value (P/TBV)	4.40	3.68	5.27	5.28	5.58	7.59	0.00	4.28	4.90	5.48
Price to Revenue (P/Rev)	1.65	1.32	1.80	1.83	1.90	2.52	0.00	2.67	3.12	3.53
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	300.35	237.62	245.80
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.33%	0.42%	0.41%
Enterprise Value to Invested Capital (EV/IC)	1.41	1.21	1.63	1.69	1.80	2.43	0.00	2.35	2.74	3.21
Enterprise Value to Revenue (EV/Rev)	1.90	1.57	2.08	2.08	2.15	2.69	0.00	2.58	3.04	3.39
Enterprise Value to EBITDA (EV/EBITDA)	39.66	35.79	46.28	38.79	31.93	36.17	0.00	31.04	38.26	46.92
Enterprise Value to EBIT (EV/EBIT)	1,365.05	0.00	0.00	248.08	88.17	88.14	0.00	66.26	90.59	130.57
Enterprise Value to NOPAT (EV/NOPAT)	936.04	0.00	0.00	372.81	0.00	414.19	0.00	118.44	153.60	215.93
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	1,004.73	463.35	42.72	0.00	44.48	47.89	77.50
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	122.56	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.36	0.31	0.31	0.28	0.29	0.22	0.16	0.16	0.16	0.13
Long-Term Debt to Equity	0.35	0.31	0.31	0.28	0.29	0.22	0.16	0.16	0.16	0.13
Financial Leverage	0.08	0.10	0.18	0.22	0.24	0.19	0.05	0.06	0.06	0.00
Leverage Ratio	1.66	1.65	1.65	1.65	1.65	1.64	1.53	1.52	1.51	1.52
Compound Leverage Factor	3.10	0.18	-42.11	0.43	0.94	0.99	0.90	1.53	1.51	1.42
Debt to Total Capital	26.42%	23.50%	23.53%	22.14%	22.18%	18.01%	13.91%	13.84%	13.48%	11.43%
Short-Term Debt to Total Capital	0.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	25.58%	23.50%	23.53%	22.14%	22.18%	18.01%	13.91%	13.84%	13.48%	11.43%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.61%	0.90%	1.00%	1.19%	1.54%	1.85%	1.46%	0.00%	0.00%	0.00%
Common Equity to Total Capital	72.98%	75.60%	75.47%	76.67%	76.28%	80.14%	84.63%	86.16%	86.52%	88.57%
Debt to EBITDA	8.20	7.39	6.93	5.27	4.06	2.85	2.52	2.28	2.34	2.13
Net Debt to EBITDA	5.17	5.32	5.81	4.34	3.45	1.90	-1.46	-1.01	-1.03	-1.88
Long-Term Debt to EBITDA	7.94	7.39	6.93	5.27	4.06	2.85	2.52	2.28	2.34	2.13
Debt to NOPAT	193.49	-143.35	-460.79	50.67	-6.25	32.61	12.40	8.70	9.38	9.79
Net Debt to NOPAT	121.94	-103.30	-386.67	41.73	-5.30	21.79	-7.17	-3.85	-4.14	-8.67
Long-Term Debt to NOPAT	187.37	-143.35	-460.79	50.67	-6.25	32.61	12.40	8.70	9.38	9.79
Altman Z-Score	1.60	1.44	1.90	2.04	2.19	2.78	0.00	3.56	4.18	4.49
Noncontrolling Interest Sharing Ratio	1.21%	1.38%	1.46%	1.18%	1.41%	1.73%	1.54%	0.64%	0.83%	0.96%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.82	2.49	2.40	2.34	2.30	2.03	3.02	3.13	3.22	2.94
Quick Ratio	2.00	1.75	1.63	1.54	1.50	1.37	2.31	2.37	2.38	2.20
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-266	-243	-155	-48	-47	25	-13	-39	-37	-51
Operating Cash Flow to CapEx	-20.93%	65.71%	-333.77%	209.82%	0.00%	349.22%	4.22%	-21.26%	39.87%	335.29%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.55	0.57	0.60	0.61	0.64	0.65	0.62	0.65	0.64	0.63
Accounts Receivable Turnover	2.98	2.93	2.94	2.96	3.10	3.15	3.19	3.33	3.36	3.48
Inventory Turnover	6.01	6.19	5.81	5.51	5.58	5.46	5.46	5.54	5.42	5.34
Fixed Asset Turnover	0.00	0.00	4.83	0.00	4.55	0.00	4.66	0.00	4.44	4.27
Accounts Payable Turnover	13.07	12.48	13.14	12.47	13.61	12.77	13.74	14.20	14.15	11.70
Days Sales Outstanding (DSO)	122.34	124.58	123.99	123.23	117.89	115.74	114.57	109.61	108.66	104.88
Days Inventory Outstanding (DIO)	60.75	58.96	62.82	66.30	65.40	66.90	66.83	65.94	67.32	68.41
Days Payable Outstanding (DPO)	27.93	29.24	27.78	29.27	26.82	28.59	26.57	25.70	25.79	31.19
Cash Conversion Cycle (CCC)	155.16	154.30	159.04	160.26	156.47	154.04	154.84	149.85	150.18	142.10
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,159	1,161	1,191	1,189	1,212	1,145	1,206	1,236	1,252	1,199
Invested Capital Turnover	0.84	0.85	0.84	0.83	0.85	0.90	0.90	0.93	0.92	0.97
Increase / (Decrease) in Invested Capital	264	216	155	47	52	-16	15	47	40	54
Enterprise Value (EV)	1,638	1,410	1,939	2,009	2,178	2,785	0.00	2,909	3,424	3,852
Market Capitalization	1,417	1,189	1,683	1,770	1,923	2,616	0.00	3,003	3,517	4,006
Book Value per Share	$7.43	$7.43	$7.35	$7.41	$7.45	$7.57	$9.36	$8.86	$8.89	$8.96
Tangible Book Value per Share	$2.55	$2.56	$2.52	$2.63	$2.69	$2.67	$4.85	$4.68	$4.76	$4.84
Total Capital	1,282	1,239	1,234	1,233	1,250	1,218	1,543	1,543	1,552	1,528
Total Debt	339	291	290	273	277	219	215	214	209	175
Total Long-Term Debt	328	291	290	273	277	219	215	214	209	175
Net Debt	213	210	244	225	235	147	-124	-95	-92	-155
Capital Expenditures (CapEx)	13	11	7.70	11	14	19	17	13	15	14
Debt-free, Cash-free Net Working Capital (DFCFNWC)	273	267	296	289	299	229	245	271	276	246
Debt-free Net Working Capital (DFNWC)	399	348	343	337	341	302	584	579	578	575
Net Working Capital (NWC)	388	348	343	337	341	302	584	579	578	575
Net Nonoperating Expense (NNE)	5.48	-22	6.15	-1.09	2.38	3.02	0.98	-0.12	0.39	-0.98
Net Nonoperating Obligations (NNO)	216	214	247	228	239	147	-123	-94	-91	-155
Total Depreciation and Amortization (D&A)	12	11	11	11	11	12	13	14	13	13
Debt-free, Cash-free Net Working Capital to Revenue	31.76%	29.73%	31.74%	29.87%	29.55%	22.07%	22.60%	24.05%	24.53%	21.66%
Debt-free Net Working Capital to Revenue	46.30%	38.78%	36.74%	34.85%	33.72%	29.09%	53.90%	51.43%	51.28%	50.64%
Net Working Capital to Revenue	45.06%	38.78%	36.74%	34.85%	33.72%	29.09%	53.90%	51.43%	51.28%	50.64%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.06)	($0.07)	($0.05)	($0.02)	($0.01)	$0.01	$0.01	$0.05	$0.02	$0.03
Adjusted Weighted Average Basic Shares Outstanding	127.20M	126.70M	128.10M	129.10M	129.60M	130.40M	139.60M	151.80M	152.60M	149M
Adjusted Diluted Earnings per Share	($0.06)	$0.00	($0.05)	($0.02)	$0.00	$0.01	$0.01	$0.05	$0.02	$0.03
Adjusted Weighted Average Diluted Shares Outstanding	127.20M	126.70M	128.10M	129.10M	129.60M	130.40M	141.50M	153.50M	154.10M	150.90M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	125.96M	126.66M	127.60M	128.06M	128.94M	130.00M	150.10M	151.00M	151.07M	152.84M
Normalized Net Operating Profit after Tax (NOPAT)	-2.24	3.22	0.98	4.69	8.54	8.92	4.90	7.78	3.70	6.53
Normalized NOPAT Margin	-0.98%	1.29%	0.42%	1.83%	3.11%	3.26%	1.77%	2.59%	1.34%	2.31%
Pre Tax Income Margin	-3.85%	0.24%	-2.20%	0.70%	2.48%	2.78%	1.44%	4.23%	2.10%	1.41%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Kratos Defense & Security Solutions' Financials

When does Kratos Defense & Security Solutions's financial year end?

According to the most recent income statement we have on file, Kratos Defense & Security Solutions' fiscal year ends in December. Their fiscal year 2024 ended on December 29, 2024.

How has Kratos Defense & Security Solutions' net income changed over the last 9 years?

Kratos Defense & Security Solutions' net income appears to be on a downward trend, with a most recent value of $16.30 million in 2024, falling from $19.80 million in 2015. The previous period was $2.40 million in 2023. See where experts think Kratos Defense & Security Solutions is headed by visiting Kratos Defense & Security Solutions' forecast page.

What is Kratos Defense & Security Solutions's operating income?

Kratos Defense & Security Solutions's total operating income in 2024 was $29 million, based on the following breakdown:

Total Gross Profit: $287.20 million
Total Operating Expenses: $258.20 million

How has Kratos Defense & Security Solutions revenue changed over the last 9 years?

Over the last 9 years, Kratos Defense & Security Solutions' total revenue changed from $657.10 million in 2015 to $1.14 billion in 2024, a change of 72.9%.

How much debt does Kratos Defense & Security Solutions have?

Kratos Defense & Security Solutions' total liabilities were at $597.70 million at the end of 2024, a 5.7% decrease from 2023, and a 7.9% decrease since 2015.

How much cash does Kratos Defense & Security Solutions have?

In the past 9 years, Kratos Defense & Security Solutions' cash and equivalents has ranged from $28.50 million in 2015 to $380.80 million in 2020, and is currently $329.30 million as of their latest financial filing in 2024.

How has Kratos Defense & Security Solutions' book value per share changed over the last 9 years?

Over the last 9 years, Kratos Defense & Security Solutions' book value per share changed from 4.30 in 2015 to 8.96 in 2024, a change of 108.2%.

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This page (NASDAQ:KTOS) was last updated on 5/6/2025 by MarketBeat.com Staff

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Kratos Defense & Security Solutions (KTOS) Financials

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Kratos Defense & Security Solutions (KTOS) Financials

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