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Karman (KRMN) Financials

Karman logo
$62.92 -3.10 (-4.70%)
Closing price 05/15/2026 03:59 PM Eastern
Extended Trading
$63.68 +0.76 (+1.21%)
As of 05/15/2026 07:59 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Karman

Annual Income Statements for Karman

This table shows Karman's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -14 4.36 13 17
Consolidated Net Income / (Loss)		 -14 4.36 13 17
Net Income / (Loss) Continuing Operations		 -14 4.36 13 17
Total Pre-Tax Income 		-17 1.19 14 33
Total Operating Income		 20 48 64 73
Total Gross Profit		 81 106 132 190
Total Revenue		 226 281 345 472
Operating Revenue		 226 281 345 472
Total Cost of Revenue		 145 175 213 281
Operating Cost of Revenue		 145 175 213 281
Total Operating Expenses		 61 57 69 117
Selling, General & Admin Expense		 30 37 44 86
Depreciation Expense		 30 20 24 31
Total Other Income / (Expense), net		 -38 -47 -49 -40
Interest Expense		 38 48 51 45
Other Income / (Expense), net		 -0.21 0.56 1.50 4.15
Income Tax Expense		 -3.17 -3.17 1.63 15
Basic Earnings per Share		 ($0.09) $0.03 $0.08 $0.13
Weighted Average Basic Shares Outstanding		 159.11M 166.78M 166.74M 132.32M
Diluted Earnings per Share		 ($0.09) $0.03 $0.08 $0.13
Weighted Average Diluted Shares Outstanding		 159.11M 166.78M 166.74M 132.32M
Weighted Average Basic & Diluted Shares Outstanding		 - - 132.17M 132.53M

Quarterly Income Statements for Karman

This table shows Karman's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 2.12 4.60 4.29 1.68 -4.80 6.81 7.64 7.71
Consolidated Net Income / (Loss)		 2.12 4.60 4.29 1.68 -4.80 6.81 7.64 7.71
Net Income / (Loss) Continuing Operations		 2.12 4.60 4.29 1.68 -4.80 6.81 7.64 7.71
Total Pre-Tax Income 		2.21 4.92 5.23 1.98 -1.49 8.59 12 14
Total Operating Income		 13 18 17 14 9.96 20 22 21
Total Gross Profit		 29 35 34 35 39 47 50 54
Total Revenue		 83 85 86 91 100 115 122 134
Operating Revenue		 83 85 86 91 100 115 122 134
Total Cost of Revenue		 54 50 52 57 61 68 72 81
Operating Cost of Revenue		 54 50 52 57 61 68 72 81
Total Operating Expenses		 16 16 16 20 29 27 28 33
Selling, General & Admin Expense		 10 9.99 11 13 23 19 20 23
Depreciation Expense		 5.41 6.32 5.19 7.21 6.20 7.49 8.13 9.61
Total Other Income / (Expense), net		 -11 -13 -12 -12 -11 -12 -9.95 -7.50
Interest Expense		 12 13 13 13 11 12 10 11
Other Income / (Expense), net		 0.77 0.04 0.35 0.35 -0.08 0.38 0.05 3.80
Income Tax Expense		 0.09 0.31 0.93 0.30 3.31 1.78 4.22 5.85
Basic Earnings per Share		 $0.01 $0.03 $0.03 $0.01 ($0.04) $0.05 $0.06 $0.06
Weighted Average Basic Shares Outstanding		 166.78M 166.74M 166.74M 166.74M 132.18M 132.32M 132.32M 132.32M
Diluted Earnings per Share		 $0.01 $0.03 $0.03 $0.01 ($0.04) $0.05 $0.06 $0.06
Weighted Average Diluted Shares Outstanding		 166.78M 166.74M 166.74M 166.74M 132.18M 132.32M 132.32M 132.32M
Weighted Average Basic & Diluted Shares Outstanding		 - - - 132.17M 132.17M 132.32M 132.32M 132.53M

Annual Cash Flow Statements for Karman

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

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -10 -1.17 6.08 22
Net Cash From Operating Activities		 -5.89 20 27 -22
Net Cash From Continuing Operating Activities		 -5.89 20 27 -22
Net Income / (Loss) Continuing Operations		 -14 4.36 13 17
Consolidated Net Income / (Loss)		 -14 4.36 13 17
Depreciation Expense		 35 27 33 43
Amortization Expense		 1.99 1.99 2.30 1.33
Non-Cash Adjustments To Reconcile Net Income		 -11 -26 -18 -50
Changes in Operating Assets and Liabilities, net		 -18 13 -3.43 -34
Net Cash From Investing Activities		 -21 -16 -46 -238
Net Cash From Continuing Investing Activities		 -21 -16 -46 -238
Purchase of Property, Plant & Equipment		 -21 -17 -15 -20
Acquisitions		 0.00 0.00 -31 -212
Sale of Property, Plant & Equipment		 0.00 0.00 0.31 0.00
Sale and/or Maturity of Investments		 0.01 0.56 0.00 0.00
Other Investing Activities, net		 - 0.00 0.00 -6.00
Net Cash From Financing Activities		 17 -5.29 26 283
Net Cash From Continuing Financing Activities		 17 -5.29 26 283
Repayment of Debt		 -31 -38 -47 -403
Issuance of Debt		 18 34 77 535
Issuance of Common Equity		 - 0.00 0.00 155
Other Financing Activities, net		 31 -0.54 -3.83 -4.34
Cash Interest Paid		 36 46 48 45
Cash Income Taxes Paid		 4.94 3.10 -0.68 17

Quarterly Cash Flow Statements for Karman

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

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
Net Change in Cash & Equivalents		 1.74 -2.53 3.01 3.86 102 -86 -8.77 15
Net Cash From Operating Activities		 3.07 6.14 9.87 7.56 -14 -17 0.13 8.71
Net Cash From Continuing Operating Activities		 3.07 6.14 9.87 7.56 -14 -17 0.13 8.71
Net Income / (Loss) Continuing Operations		 2.12 4.60 4.29 1.68 -4.80 6.81 7.64 7.71
Consolidated Net Income / (Loss)		 2.12 4.60 4.29 1.68 -4.80 6.81 7.64 7.71
Depreciation Expense		 7.35 8.31 8.14 9.01 9.46 9.72 11 13
Amortization Expense		 0.54 0.59 0.59 0.59 0.59 0.20 0.24 0.30
Non-Cash Adjustments To Reconcile Net Income		 -2.40 -8.82 0.48 -6.98 1.86 2.20 -0.02 -54
Changes in Operating Assets and Liabilities, net		 -4.54 1.47 -3.62 3.27 -21 -36 -19 42
Net Cash From Investing Activities		 -32 -5.09 -4.58 -4.26 -11 -130 -6.97 -90
Net Cash From Continuing Investing Activities		 -32 -5.09 -4.58 -4.26 -11 -130 -6.97 -90
Purchase of Property, Plant & Equipment		 -1.62 -5.09 -4.55 -4.00 -5.04 -3.63 -6.97 -4.70
Acquisitions		 -31 - -0.15 -0.46 0.00 -126 - -86
Net Cash From Financing Activities		 31 -3.59 -2.28 0.56 127 61 -1.93 97
Net Cash From Continuing Financing Activities		 31 -3.59 -2.28 0.56 127 61 -1.93 97
Repayment of Debt		 -12 -12 -9.86 -14 -27 -343 -0.94 -31
Issuance of Debt		 43 9.00 8.50 16 0.00 405 - 130
Issuance of Common Equity		 0.00 - - - 154 - - 1.03
Other Financing Activities, net		 -0.37 -0.81 -0.92 -1.74 0.25 -0.67 -1.00 -2.93
Cash Interest Paid		 11 13 12 12 11 9.07 14 11
Cash Income Taxes Paid		 0.00 - -0.72 0.04 3.66 6.70 2.39 4.17

Annual Balance Sheets for Karman

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

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Total Assets		 711 774 1,104
Total Current Assets		 158 202 291
Cash & Equivalents		 5.45 12 34
Accounts Receivable		 51 55 79
Inventories, net		 9.84 9.88 11
Prepaid Expenses		 2.62 18 12
Other Current Assets		 89 107 156
Plant, Property, & Equipment, net		 52 61 95
Plant, Property & Equipment, gross		 70 88 135
Accumulated Depreciation		 18 27 39
Total Noncurrent Assets		 501 511 717
Noncurrent Note & Lease Receivables		 69 70 66
Goodwill		 217 225 353
Intangible Assets		 208 209 286
Other Noncurrent Operating Assets		 7.43 7.26 13
Total Liabilities & Shareholders' Equity		 711 774 1,104
Total Liabilities		 528 578 721
Total Current Liabilities		 87 115 89
Short-Term Debt		 6.26 7.14 3.84
Accounts Payable		 21 28 32
Current Deferred & Payable Income Tax Liabilities		 7.57 20 5.30
Current Employee Benefit Liabilities		 6.43 11 14
Other Current Liabilities		 46 48 34
Total Noncurrent Liabilities		 441 463 633
Long-Term Debt		 318 352 495
Capital Lease Obligations		 75 78 77
Noncurrent Deferred & Payable Income Tax Liabilities		 37 25 48
Other Noncurrent Operating Liabilities		 11 8.11 13
Commitments & Contingencies		 - 0.00 0.00
Total Equity & Noncontrolling Interests		 182 196 383
Total Preferred & Common Equity		 182 196 383
Preferred Stock		 - 0.00 0.00
Total Common Equity		 182 196 383
Common Stock		 182 204 374
Retained Earnings		 - -8.34 9.03
Accumulated Other Comprehensive Income / (Loss)		 - 0.08 0.08

Quarterly Balance Sheets for Karman

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

Metric Q1 2025 Q2 2025 Q3 2025
Period end date 3/31/2025 6/30/2025 9/30/2025
Total Assets		 875 954 968
Total Current Assets		 302 242 261
Cash & Equivalents		 114 27 19
Accounts Receivable		 48 58 70
Inventories, net		 10 15 15
Prepaid Expenses		 7.52 8.38 9.36
Other Current Assets		 122 134 147
Plant, Property, & Equipment, net		 63 79 83
Plant, Property & Equipment, gross		 93 112 119
Accumulated Depreciation		 30 33 36
Total Noncurrent Assets		 510 633 624
Noncurrent Note & Lease Receivables		 68 66 64
Goodwill		 225 302 302
Intangible Assets		 205 251 245
Other Noncurrent Operating Assets		 13 13 13
Total Liabilities & Shareholders' Equity		 875 954 968
Total Liabilities		 526 592 599
Total Current Liabilities		 90 88 91
Short-Term Debt		 7.14 2.82 2.82
Accounts Payable		 25 28 33
Current Deferred & Payable Income Tax Liabilities		 17 15 11
Current Employee Benefit Liabilities		 8.29 11 13
Other Current Liabilities		 33 32 31
Total Noncurrent Liabilities		 436 504 508
Long-Term Debt		 325 396 395
Capital Lease Obligations		 77 75 74
Noncurrent Deferred & Payable Income Tax Liabilities		 26 25 31
Other Noncurrent Operating Liabilities		 7.78 8.32 7.83
Total Equity & Noncontrolling Interests		 349 361 369
Total Preferred & Common Equity		 349 361 369
Preferred Stock		 0.00 0.00 0.00
Total Common Equity		 349 361 369
Common Stock		 362 368 368
Retained Earnings		 -13 -6.33 1.32
Accumulated Other Comprehensive Income / (Loss)		 0.08 0.08 0.08

Annual Metrics And Ratios for Karman

This table displays calculated financial ratios and metrics derived from Karman's official financial filings.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - 132,322,435.00
DEI Adjusted Shares Outstanding		 - - - 132,322,435.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - 0.13
Growth Metrics		 - - - -
Revenue Growth		 0.00% 24.04% 22.99% 36.57%
EBITDA Growth		 0.00% 36.76% 28.04% 20.96%
EBIT Growth		 0.00% 142.51% 32.62% 18.49%
NOPAT Growth		 0.00% 1,141.32% -68.27% -30.87%
Net Income Growth		 0.00% 130.92% 191.35% 36.73%
EPS Growth		 0.00% 133.33% 166.67% 62.50%
Operating Cash Flow Growth		 0.00% 444.94% 31.09% -183.01%
Free Cash Flow Firm Growth		 0.00% 0.00% 102.89% -2,389.95%
Invested Capital Growth		 0.00% 0.00% 7.77% 48.82%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 10.10%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 12.48%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 15.15%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 8.60%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 53.19%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 62.50%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00% 4.93%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 12.41%
Profitability Metrics		 - - - -
Gross Margin		 35.77% 37.60% 38.27% 40.30%
EBITDA Margin		 25.27% 27.87% 29.01% 25.70%
Operating Margin		 9.03% 17.28% 18.41% 15.47%
EBIT Margin		 8.94% 17.48% 18.84% 16.35%
Profit (Net Income) Margin		 -6.23% 1.55% 3.68% 3.68%
Tax Burden Percent		 81.63% 366.16% 88.64% 53.40%
Interest Burden Percent		 -85.38% 2.43% 22.02% 42.19%
Effective Tax Rate		 0.00% -266.16% 11.36% 46.60%
Return on Invested Capital (ROIC)		 0.00% 61.58% 9.40% 5.04%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -26.29% -1.24% 0.58%
Return on Net Nonoperating Assets (RNNOA)		 0.00% -56.80% -2.69% 0.96%
Return on Equity (ROE)		 0.00% 4.78% 6.71% 6.00%
Cash Return on Invested Capital (CROIC)		 0.00% -138.42% 1.93% -34.20%
Operating Return on Assets (OROA)		 0.00% 6.90% 8.76% 8.21%
Return on Assets (ROA)		 0.00% 0.61% 1.71% 1.85%
Return on Common Equity (ROCE)		 0.00% 4.78% 6.71% 6.00%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 2.39% 6.48% 0.00%
Net Operating Profit after Tax (NOPAT)		 14 178 56 39
NOPAT Margin		 6.32% 63.26% 16.32% 8.26%
Net Nonoperating Expense Percent (NNEP)		 0.00% 87.87% 10.65% 4.46%
Return On Investment Capital (ROIC_SIMPLE)		 - 30.50% 8.90% 4.06%
Cost of Revenue to Revenue		 64.23% 62.40% 61.73% 59.70%
SG&A Expenses to Revenue		 13.27% 13.05% 12.87% 18.17%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 26.74% 20.33% 19.86% 24.83%
Earnings before Interest and Taxes (EBIT)		 20 49 65 77
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 57 78 100 121
Valuation Ratios		 - - - -
Price to Book Value (P/BV)		 0.00 2.77 2.58 25.30
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 2.24 1.80 1.47 20.53
Price to Earnings (P/E)		 0.00 116.07 39.84 557.53
Dividend Yield		 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.86% 2.51% 0.18%
Enterprise Value to Invested Capital (EV/IC)		 0.00 1.56 1.50 11.05
Enterprise Value to Revenue (EV/Rev)		 0.00 3.21 2.70 21.68
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 11.51 9.30 84.39
Enterprise Value to EBIT (EV/EBIT)		 0.00 18.35 14.32 132.63
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 5.07 16.53 262.50
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 44.29 34.96 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 80.67 0.00
Leverage & Solvency		 - - - -
Debt to Equity		 0.00 2.19 2.23 1.51
Long-Term Debt to Equity		 0.00 2.16 2.19 1.50
Financial Leverage		 0.00 2.16 2.17 1.67
Leverage Ratio		 0.00 3.90 3.92 3.25
Compound Leverage Factor		 0.00 0.09 0.86 1.37
Debt to Total Capital		 0.00% 68.66% 69.04% 60.09%
Short-Term Debt to Total Capital		 0.00% 1.08% 1.13% 0.40%
Long-Term Debt to Total Capital		 0.00% 67.58% 67.91% 59.69%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 31.34% 30.96% 39.91%
Debt to EBITDA		 0.00 5.11 4.36 4.76
Net Debt to EBITDA		 0.00 5.04 4.25 4.48
Long-Term Debt to EBITDA		 0.00 5.03 4.29 4.72
Debt to NOPAT		 0.00 2.25 7.76 14.79
Net Debt to NOPAT		 0.00 2.22 7.55 13.92
Long-Term Debt to NOPAT		 0.00 2.22 7.63 14.69
Altman Z-Score		 0.00 1.32 1.38 8.94
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - -
Current Ratio		 0.00 1.81 1.76 3.29
Quick Ratio		 0.00 0.64 0.58 1.27
Cash Flow Metrics		 - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -399 12 -264
Operating Cash Flow to CapEx		 -27.71% 121.17% 178.28% -108.77%
Free Cash Flow to Firm to Interest Expense		 0.00 -8.34 0.23 -5.93
Operating Cash Flow to Interest Expense		 -0.16 0.42 0.53 -0.50
Operating Cash Flow Less CapEx to Interest Expense		 -0.72 0.07 0.23 -0.95
Efficiency Ratios		 - - - -
Asset Turnover		 0.00 0.39 0.47 0.50
Accounts Receivable Turnover		 0.00 5.55 6.53 7.04
Inventory Turnover		 0.00 17.80 21.61 27.40
Fixed Asset Turnover		 0.00 5.42 6.13 6.03
Accounts Payable Turnover		 0.00 8.32 8.64 9.39
Days Sales Outstanding (DSO)		 0.00 65.79 55.93 51.84
Days Inventory Outstanding (DIO)		 0.00 20.50 16.89 13.32
Days Payable Outstanding (DPO)		 0.00 43.85 42.24 38.86
Cash Conversion Cycle (CCC)		 0.00 42.45 30.58 26.31
Capital & Investment Metrics		 - - - -
Invested Capital		 0.00 577 621 925
Invested Capital Turnover		 0.00 0.97 0.58 0.61
Increase / (Decrease) in Invested Capital		 0.00 577 45 303
Enterprise Value (EV)		 0.00 900 931 10,224
Market Capitalization		 506 506 506 9,682
Book Value per Share		 $0.00 $1.09 $1.18 $2.89
Tangible Book Value per Share		 $0.00 ($1.45) ($1.43) ($1.93)
Total Capital		 0.00 582 633 959
Total Debt		 0.00 400 437 576
Total Long-Term Debt		 0.00 393 430 572
Net Debt		 0.00 394 425 542
Capital Expenditures (CapEx)		 21 17 15 20
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 71 83 173
Debt-free Net Working Capital (DFNWC)		 0.00 77 94 207
Net Working Capital (NWC)		 0.00 71 87 203
Net Nonoperating Expense (NNE)		 28 173 44 22
Net Nonoperating Obligations (NNO)		 0.00 394 425 542
Total Depreciation and Amortization (D&A)		 37 29 35 44
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 25.45% 23.96% 36.61%
Debt-free Net Working Capital to Revenue		 0.00% 27.39% 27.30% 43.81%
Net Working Capital to Revenue		 0.00% 25.16% 25.23% 43.00%
Earnings Adjustments		 - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.08 $0.13
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 166.74M 132.32M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.08 $0.13
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 166.74M 132.32M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 132.17M 132.53M
Normalized Net Operating Profit after Tax (NOPAT)		 14 34 56 39
Normalized NOPAT Margin		 6.32% 12.09% 16.32% 8.26%
Pre Tax Income Margin		 -7.63% 0.42% 4.15% 6.90%
Debt Service Ratios		 - - - -
EBIT to Interest Expense		 0.54 1.02 1.28 1.73
NOPAT to Interest Expense		 0.38 3.71 1.11 0.87
EBIT Less CapEx to Interest Expense		 -0.03 0.67 0.99 1.27
NOPAT Less CapEx to Interest Expense		 -0.19 3.36 0.82 0.42
Payout Ratios		 - - - -
Dividend Payout Ratio		 -0.78% 18.09% 1.23% 0.00%
Augmented Payout Ratio		 -0.78% 18.09% 1.23% 0.00%

Quarterly Metrics And Ratios for Karman

This table displays calculated financial ratios and metrics derived from Karman's official financial filings.

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
DEI Shares Outstanding		 - - - 0.00 - - - 132,322,435.00
DEI Adjusted Shares Outstanding		 - - - 0.00 - - - 132,322,435.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - 0.00 - - - 0.06
Growth Metrics		 - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 20.62% 35.35% 41.67% 47.41%
EBITDA Growth		 0.00% 0.00% 0.00% 0.00% -10.09% 11.75% 24.88% 55.30%
EBIT Growth		 0.00% 0.00% 0.00% 0.00% -30.74% 11.83% 23.12% 68.90%
NOPAT Growth		 0.00% 0.00% 0.00% 0.00% -46.22% -6.96% -1.69% -1.98%
Net Income Growth		 0.00% 0.00% 0.00% 0.00% -326.11% 47.85% 78.10% 358.29%
EPS Growth		 0.00% 0.00% 0.00% 0.00% -500.00% 66.67% 100.00% 500.00%
Operating Cash Flow Growth		 0.00% 0.00% 0.00% 0.00% -542.48% -382.78% -98.67% 15.18%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 48.82%
Revenue Q/Q Growth		 0.00% 2.45% 1.09% 6.13% 0.00% 14.95% 5.81% 10.43%
EBITDA Q/Q Growth		 0.00% 22.79% -2.68% -8.20% 0.00% 52.61% 8.75% 14.17%
EBIT Q/Q Growth		 0.00% 28.37% -3.05% -17.12% 0.00% 107.27% 6.73% 13.70%
NOPAT Q/Q Growth		 0.00% 32.03% -16.48% -14.52% 0.00% 128.41% -11.75% -14.77%
Net Income Q/Q Growth		 0.00% 116.97% -6.78% -60.79% 0.00% 241.87% 12.30% 0.90%
EPS Q/Q Growth		 0.00% 200.00% 0.00% -66.67% 0.00% 225.00% 20.00% 0.00%
Operating Cash Flow Q/Q Growth		 0.00% 100.10% 60.74% -23.46% 0.00% -27.88% 100.75% 6,545.04%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% -24.30% -2.08% 63.97%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 25.42% 1.81% 12.41%
Profitability Metrics		 - - - - - - - -
Gross Margin		 34.94% 40.68% 39.30% 38.07% 39.40% 40.85% 41.01% 39.86%
EBITDA Margin		 26.70% 32.00% 30.80% 26.64% 19.90% 26.42% 27.15% 28.07%
Operating Margin		 16.26% 21.50% 20.25% 15.75% 9.95% 17.47% 17.91% 15.66%
EBIT Margin		 17.19% 21.54% 20.66% 16.13% 9.87% 17.80% 17.95% 18.48%
Profit (Net Income) Margin		 2.56% 5.41% 4.99% 1.84% -4.79% 5.91% 6.28% 5.73%
Tax Burden Percent		 96.06% 93.65% 82.14% 85.04% 322.01% 79.23% 64.45% 56.88%
Interest Burden Percent		 15.48% 26.84% 29.42% 13.45% -15.08% 41.94% 54.25% 54.55%
Effective Tax Rate		 3.94% 6.35% 17.86% 14.96% 0.00% 20.77% 35.55% 43.12%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 7.44% 7.83% 13.44% 12.02% 5.43%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 4.97% -0.13% 9.36% 9.19% 4.55%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 10.78% -0.11% 11.56% 11.29% 7.61%
Return on Equity (ROE)		 0.00% 0.00% 0.00% 18.22% 7.72% 25.00% 23.31% 13.04%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 1.86% 0.00% 0.00% 0.00% -34.20%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 7.50% 4.09% 7.32% 7.94% 9.28%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.86% -1.98% 2.43% 2.78% 2.88%
Return on Common Equity (ROCE)		 0.00% 0.00% 0.00% 18.22% 7.72% 25.00% 23.31% 13.04%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 1.66% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 13 17 14 12 6.97 16 14 12
NOPAT Margin		 15.62% 20.13% 16.63% 13.40% 6.97% 13.84% 11.54% 8.91%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 2.48% 7.97% 4.08% 2.83% 0.88%
Return On Investment Capital (ROIC_SIMPLE)		 - - - 1.93% 0.92% 1.91% 1.67% 1.25%
Cost of Revenue to Revenue		 65.06% 59.32% 60.70% 61.93% 60.60% 59.15% 58.99% 60.14%
SG&A Expenses to Revenue		 12.15% 11.75% 13.01% 14.42% 23.26% 16.88% 16.42% 17.06%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 18.67% 19.18% 19.05% 22.32% 29.45% 23.39% 23.10% 24.20%
Earnings before Interest and Taxes (EBIT)		 14 18 18 15 9.88 20 22 25
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 22 27 26 24 20 30 33 38
Valuation Ratios		 - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 2.58 12.66 18.44 25.88 25.30
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.00 0.00 0.00 1.47 12.19 16.98 22.31 20.53
Price to Earnings (P/E)		 0.00 0.00 0.00 39.84 764.10 834.80 842.77 557.53
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 2.51% 0.13% 0.12% 0.12% 0.18%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 1.50 7.31 8.80 12.16 11.05
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 2.70 13.01 18.12 23.37 21.68
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 9.30 48.13 70.33 92.91 84.39
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 14.32 77.67 113.17 149.48 132.63
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 16.53 144.37 206.03 279.03 262.50
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 34.96 471.67 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 2.23 1.17 1.31 1.28 1.51
Long-Term Debt to Equity		 0.00 0.00 0.00 2.19 1.15 1.30 1.27 1.50
Financial Leverage		 0.00 0.00 0.00 2.17 0.85 1.24 1.23 1.67
Leverage Ratio		 0.00 0.00 0.00 3.92 2.51 2.64 2.62 3.25
Compound Leverage Factor		 0.00 0.00 0.00 0.53 -0.38 1.11 1.42 1.77
Debt to Total Capital		 0.00% 0.00% 0.00% 69.04% 53.97% 56.74% 56.13% 60.09%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 1.13% 0.94% 0.34% 0.33% 0.40%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 67.91% 53.03% 56.40% 55.80% 59.69%
Preferred Equity to Total Capital		 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% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 0.00% 0.00% 30.96% 46.03% 43.26% 43.87% 39.91%
Debt to EBITDA		 0.00 0.00 0.00 4.36 4.18 4.69 4.39 4.76
Net Debt to EBITDA		 0.00 0.00 0.00 4.25 3.02 4.42 4.21 4.48
Long-Term Debt to EBITDA		 0.00 0.00 0.00 4.29 4.11 4.66 4.36 4.72
Debt to NOPAT		 0.00 0.00 0.00 7.76 12.53 13.74 13.17 14.79
Net Debt to NOPAT		 0.00 0.00 0.00 7.55 9.05 12.94 12.65 13.92
Long-Term Debt to NOPAT		 0.00 0.00 0.00 7.63 12.31 13.65 13.09 14.69
Altman Z-Score		 0.00 0.00 0.00 1.15 5.75 7.42 10.30 8.79
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - -
Current Ratio		 0.00 0.00 0.00 1.76 3.34 2.75 2.86 3.29
Quick Ratio		 0.00 0.00 0.00 0.58 1.79 0.97 0.97 1.27
Cash Flow Metrics		 - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 0.00 0.00 -637 -792 -809 -291
Operating Cash Flow to CapEx		 189.98% 120.76% 216.92% 198.53% -269.42% -478.94% 1.88% 185.37%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 -56.04 -66.61 -80.85 -25.79
Operating Cash Flow to Interest Expense		 0.25 0.46 0.79 0.59 -1.19 -1.46 0.01 0.77
Operating Cash Flow Less CapEx to Interest Expense		 0.12 0.08 0.42 0.29 -1.64 -1.77 -0.68 0.35
Efficiency Ratios		 - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.47 0.41 0.41 0.44 0.50
Accounts Receivable Turnover		 0.00 0.00 0.00 6.53 7.59 6.78 6.10 7.04
Inventory Turnover		 0.00 0.00 0.00 21.61 21.10 16.11 16.72 27.40
Fixed Asset Turnover		 0.00 0.00 0.00 6.13 5.72 4.95 5.16 6.03
Accounts Payable Turnover		 0.00 0.00 0.00 8.64 8.64 8.46 7.87 9.39
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 55.94 48.11 53.86 59.82 51.84
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 16.89 17.30 22.66 21.83 13.32
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 42.25 42.25 43.13 46.37 38.86
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 30.58 23.16 33.39 35.28 26.31
Capital & Investment Metrics		 - - - - - - - -
Invested Capital		 0.00 0.00 0.00 621 644 808 823 925
Invested Capital Turnover		 0.00 0.00 0.00 0.56 1.12 0.97 1.04 0.61
Increase / (Decrease) in Invested Capital		 0.00 0.00 0.00 0.00 644 808 823 303
Enterprise Value (EV)		 0.00 0.00 0.00 931 4,713 7,112 10,007 10,224
Market Capitalization		 506 506 506 506 4,417 6,665 9,554 9,682
Book Value per Share		 $0.00 $0.00 $0.00 $1.18 $2.64 $2.73 $2.79 $2.89
Tangible Book Value per Share		 $0.00 $0.00 $0.00 ($1.43) ($0.61) ($1.45) ($1.34) ($1.93)
Total Capital		 0.00 0.00 0.00 633 758 836 841 959
Total Debt		 0.00 0.00 0.00 437 409 474 472 576
Total Long-Term Debt		 0.00 0.00 0.00 430 402 471 469 572
Net Debt		 0.00 0.00 0.00 425 295 447 454 542
Capital Expenditures (CapEx)		 1.62 5.09 4.55 3.81 5.04 3.63 6.97 4.70
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 0.00 0.00 83 105 129 154 173
Debt-free Net Working Capital (DFNWC)		 0.00 0.00 0.00 94 218 157 172 207
Net Working Capital (NWC)		 0.00 0.00 0.00 87 211 154 169 203
Net Nonoperating Expense (NNE)		 11 13 10 11 12 9.12 6.41 4.27
Net Nonoperating Obligations (NNO)		 0.00 0.00 0.00 425 295 447 454 542
Total Depreciation and Amortization (D&A)		 7.89 8.89 8.72 9.59 10 9.92 11 13
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 23.96% 28.90% 32.94% 35.86% 36.61%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 27.30% 60.27% 39.93% 40.22% 43.81%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 25.23% 58.30% 39.22% 39.56% 43.00%
Earnings Adjustments		 - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.01 ($0.04) $0.05 $0.06 $0.06
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 166.74M 132.18M 132.32M 132.32M 132.32M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.01 ($0.04) $0.05 $0.06 $0.06
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 166.74M 132.18M 132.32M 132.32M 132.32M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 132.17M 132.17M 132.32M 132.32M 132.53M
Normalized Net Operating Profit after Tax (NOPAT)		 13 17 14 12 6.97 16 14 12
Normalized NOPAT Margin		 15.62% 20.13% 16.63% 13.40% 6.97% 13.84% 11.54% 8.91%
Pre Tax Income Margin		 2.66% 5.78% 6.08% 2.17% -1.49% 7.46% 9.74% 10.08%
Debt Service Ratios		 - - - - - - - -
EBIT to Interest Expense		 1.18 1.37 1.42 1.16 0.87 1.72 2.19 2.20
NOPAT to Interest Expense		 1.08 1.28 1.14 0.96 0.61 1.34 1.41 1.06
EBIT Less CapEx to Interest Expense		 1.05 0.99 1.05 0.86 0.43 1.42 1.49 1.78
NOPAT Less CapEx to Interest Expense		 0.94 0.90 0.78 0.66 0.17 1.03 0.71 0.64
Payout Ratios		 - - - - - - - -
Dividend Payout Ratio		 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%

Financials Breakdown Chart

Key Financial Trends

Here’s a concise, investor-focused look at Karman Holdings Inc. (NYSE: KRMN) using the latest quarterly data from 2024 and 2025. The focus is on trends in revenue, profitability, cash flow, and the balance sheet over the last four quarters and the prior year where relevant.

  • Revenue growth: Q4 2025 revenue reached 134.492 million, up from 91.238 million in Q4 2024 (about a 47% year-over-year increase), with gross margin also improving toward ~40%.
  • Operating profitability improving: Q4 2025 operating income was 21.063 million, up from 14.373 million in Q4 2024, indicating stronger operating leverage.
  • Net income and EPS advancing: Net income attributable to common shareholders rose to 7.713 million in Q4 2025 (EPS 0.06) from 1.683 million in Q4 2024 (EPS 0.01).
  • Free cash flow in the latest quarter: Net cash from continuing operating activities was 8.705 million in Q4 2025, with capital expenditures of 4.697 million, yielding positive free cash flow in the quarter.
  • Liquidity support from financing activities: Net cash from financing activities in Q4 2025 was 96.941 million, signaling solid access to capital to fund growth or liquidity needs.
  • Asset and equity growth: Total assets expanded to about 968.1 million by Q3 2025, with total equity around 369.1 million, reflecting an expanding balance sheet base.
  • Earnings per share consistency: Basic and diluted EPS hovered around 0.06 in late-2025 quarters, with gross margin near 40% across 2025.
  • Leverage considerations: Long-term debt around 395.1 million (Q3 2025) within total liabilities of ~599 million, suggesting meaningful leverage that warrants monitoring as growth initiatives continue.
  • Investing outflows from acquisitions: Significant cash outlays for acquisitions, notably about 126.3 million in Q2 2025 and around 85.7 million in Q4 2025, contributed to sizable investing activity and near-term cash burn in those periods.
  • Near-term cash flow volatility: Several quarters show negative net cash from continuing operating activities (e.g., Q2 2025 and Q1 2025), and a large non-cash adjustment in Q4 2025 (negative 53.9 million) impacting the cash flow reconciliation.
05/17/26 04:22 PM ETAI Generated. May Contain Errors.

Karman Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Karman's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Karman's net income appears to be on an upward trend, with a most recent value of $17.37 million in 2025, falling from -$14.10 million in 2022. The previous period was $12.70 million in 2024. See Karman's forecast for analyst expectations on what's next for the company.

Karman's total operating income in 2025 was $72.94 million, based on the following breakdown:
  • Total Gross Profit: $190.03 million
  • Total Operating Expenses: $117.08 million

Over the last 3 years, Karman's total revenue changed from $226.31 million in 2022 to $471.50 million in 2025, a change of 108.3%.

Karman's total liabilities were at $721.41 million at the end of 2025, a 24.8% increase from 2024, and a 36.5% increase since 2023.

In the past 2 years, Karman's cash and equivalents has ranged from $5.45 million in 2023 to $33.96 million in 2025, and is currently $33.96 million as of their latest financial filing in 2025.

Over the last 3 years, Karman's book value per share changed from 0.00 in 2022 to 2.89 in 2025, a change of 289.2%.


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Financial statements for NYSE:KRMN last updated on 4/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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