KRMN Stock Analysis: Karman Holdings | NYSE
Aerospace & Defense | NYSE, USA | Market Cap: 6.621m USD | 12M Return: 5.2% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 165M
Qual. Beats: -1
Rev. Trend: 99.3%
Warnings
Tailwinds
No distinct edge detected
Seasonality 1.4 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Karman Holdings Inc. (NYSE: KRMN) is a U.S.-based aerospace and defense company that, through its subsidiary, designs, tests, manufactures, and sells mission-critical systems. Its product portfolio includes payload protection and deployment systems, aerodynamic interstage systems, and propulsion systems, serving customers in hypersonics and strategic missile defense, tactical missile and integrated defense systems, and space and launch markets. The company was incorporated in 2020, is headquartered in Huntington Beach, California, and operates as a subsidiary of TCFIII Spaceco SPV LP.
As a mid-cap industrials company in the Aerospace & Defense sub-industry, Karman is positioned within a sector supported by rising U.S. government and allied spending on missile defense, hypersonic weapons, and space launch capabilities. Its focus on mission-critical, highly engineered components that are integrated into larger platforms suggests a B2G and B2B business model tied to long program lifecycles rather than high-volume commercial sales.
- DoD hypersonic spending surge drives backlog conversion and revenue growth
- Major contract awards expand tactical missile defense market share
- Space launch demand fuels payload and propulsion system orders
| Net Income: 30.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.02 > 0.02 and ΔFCF/TA -1.18 > 1.0 |
| NWC/Revenue: 50.80% < 20% (prev 58.30%; Δ -7.50% < -1%) |
| CFO/TA -0.01 > 3% & CFO -8.33m > Net Income 30.0m |
| Net Debt (902.4m) to EBITDA (134.9m): 6.69 < 3 |
| Current Ratio: 3.53 > 1.5 & < 3 |
| Outstanding Shares: last quarter (132.5m) vs 12m ago 0.27% < -2% |
| Gross Margin: 35.02% > 18% (prev 39.34%; Δ -4.32% > 0.5%) |
| Asset Turnover: 45.58% > 50% (prev 41.40%; Δ 4.18% > 0%) |
| Interest Coverage Ratio: 1.84 > 6 (EBIT TTM 84.3m / Interest Expense TTM 45.8m) |
| A: 0.19 (Total Current Assets 370.3m - Total Current Liabilities 104.8m) / Total Assets 1.42b |
| B: 0.01 (Retained Earnings 16.8m / Total Assets 1.42b) |
| C: 0.07 (EBIT TTM 84.3m / Avg Total Assets 1.15b) |
| D: 0.40 (Book Value of Equity 405.7m / Total Liabilities 1.01b) |
| Altman-Z'' = 2.18 = BBB |
| DSRI: 1.09 (Receivables 268.0m/169.9m, Revenue 522.6m/362.4m) |
| GMI: 1.12 (GM 39.34% / 35.02%) |
| AQI: 1.20 (AQ_t 0.60 / AQ_t-1 0.50) |
| SGI: 1.44 (Revenue 522.6m / 362.4m) |
| TATA: 0.03 (NI 30.0m - CFO -8.33m) / TA 1.42b) |
| Beneish M = -2.40 (Cap -4..+1) = BBB |
As of July 10, 2026, the stock is trading at USD 50.05 with a total of 1,125,774 shares traded. Over the past week, the price has changed by -8.88%, over one month by +3.47%, over three months by -40.57% and over the past year by +5.21%.
Current recommended Stop Loss: 44.60 (which is 10.9% or 1.4 ATR below the current price).
Karman Holdings has received a consensus analysts rating of 4.80. Therefore, it is recommended to buy KRMN.
- StrongBuy: 4
- Buy: 1
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 103.5 | 106.8% |
P/E Trailing = 217.2174
P/E Forward = 107.5269
P/S = 12.6697
P/B = 18.4143
Revenue TTM = 522.6m USD
EBIT TTM = 84.3m USD
EBITDA TTM = 134.9m USD
Long Term Debt = 752.2m USD (from longTermDebt, last quarter)
Short Term Debt = 12.4m USD (from shortTermDebt, last quarter)
Debt = 976.2m USD (from shortLongTermDebtTotal, last quarter) + Leases 109.2m
Net Debt = 902.4m USD (calculated: Debt 976.2m - CCE 73.8m)
Enterprise Value = 7.52b USD (6.62b + Debt 976.2m - CCE 73.8m)
Interest Coverage Ratio = 1.84 (Ebit TTM 84.3m / Interest Expense TTM 45.8m)
EV/FCF = -242.7x (Enterprise Value 7.52b / FCF TTM -31.0m)
FCF Yield = -0.41% (FCF TTM -31.0m / Enterprise Value 7.52b)
FCF Margin = -5.93% (FCF TTM -31.0m / Revenue TTM 522.6m)
Net Margin = 5.73% (Net Income TTM 30.0m / Revenue TTM 522.6m)
Gross Margin = 35.02% ((Revenue TTM 522.6m - Cost of Revenue TTM 339.6m) / Revenue TTM)
Gross Margin QoQ = 42.24% (prev 16.50%)
Tobins Q-Ratio = 5.31 (Enterprise Value 7.52b / Total Assets 1.42b)
Interest Expense / Debt = 4.70% (Interest Expense 45.8m / Debt 976.2m)
Taxrate = 29.75% (12.7m / 42.6m)
NOPAT = 59.2m (EBIT 84.3m * (1 - 29.75%))
Current Ratio = 3.53 (Total Current Assets 370.3m / Total Current Liabilities 104.8m)
Debt / Equity = 2.41 (Debt 976.2m / totalStockholderEquity, last quarter 405.7m)
Debt / EBITDA = 6.69 (Net Debt 902.4m / EBITDA 134.9m)
Debt / FCF = -29.11 (negative FCF - burning cash) (Net Debt 902.4m / FCF TTM -31.0m)
Total Stockholder Equity = 401.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 2.61% (Net Income 30.0m / Total Assets 1.42b)
RoE = 7.45% (Net Income TTM 30.0m / Total Stockholder Equity 401.9m)
RoCE = 7.31% (EBIT 84.3m / Capital Employed (Equity 401.9m + L.T.Debt 752.2m))
RoIC = 4.56% (NOPAT 59.2m / Invested Capital 1.30b)
WACC = 11.97% (E(6.62b)/V(7.60b) * Re(13.25%) + D(976.2m)/V(7.60b) * Rd(4.70%) * (1-Tc(0.30)))
Discount Rate = 13.25% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 53.55 | Cagr: 0.12%
[DCF] Fair Price = unknown (Cash Flow -31.0m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -2.70 | # QB: -1
Revenue Correlation: 99.33 | Revenue CAGR: 29.60% | SUE: N/A | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.13 | Chg30d=+1.94% | Revisions=-73% | Analysts=9
EPS next Quarter (2026-09-30): EPS=0.15 | Chg30d=+0.87% | Revisions=-67% | Analysts=9
EPS current Year (2026-12-31): EPS=0.58 | Chg30d=+1.03% | Revisions=-36% | GrowthEPS=+56.2% | GrowthRev=+55.2%
EPS next Year (2027-12-31): EPS=0.93 | Chg30d=+0.50% | Revisions=-55% | GrowthEPS=+60.2% | GrowthRev=+27.4%
[Analyst] Revisions Ratio: -73% (up=3, down=27)