A Business at a Glance
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Our Company We specialize in the upfront design, testing, manufacturing, and sale of mission-critical systems for existing and emerging missile and defense, and space programs. Our integrated payload protection, propulsion, and interstage system solutions are deployed across a wide variety of existing and emerging programs supporting important Department of Defense (“DoD”) and space sector initiatives. For the years ending December 31, 2024 and 2023, we estimate that no single program accounted for more than 10% of revenue on average for those twelve month periods, with revenue from over 100 active programs supporting current production and next-generation space, missile, hypersonics, and defense applications.
| Metric | TTM | FY2024 | FY2023 |
|---|---|---|---|
| Revenue | 345M | 345M | 281M |
| Net Income | 13M | 13M | 4.4M |
| EPS | $0.08 | $0.08 | $0.03 |
| Free Cash Flow | 11M | 11M | 3.6M |
| ROIC | 20.3% | 15.3% | 10.2% |
| Gross Margin | 38.3% | 38.3% | 37.6% |
| Debt/Equity | 0.47 | 0.47 | 1.67 |
| Dividends/Share | $0.00 | - | - |
| Operating Income | 64M | 64M | 48M |
| Operating Margin | 18.4% | 18.4% | 17.3% |
| ROE | 6.5% | 6.7% | 2.4% |
| Shares Outstanding | 159M | 159M | 145M |
| Metric | 2023 | ||
|---|---|---|---|
| Income Statement | |||
| Revenue | 281M | 345M | 345M |
| Gross Margin | 37.6% | 38.3% | 38.3% |
| R&D | N/A | N/A | N/A |
| SG&A | 37M | 44M | 44M |
| EBIT | 48M | 64M | 64M |
| Op. Margin | 17.3% | 18.4% | 18.4% |
| Net Income | 4.4M | 13M | 13M |
| Net Margin | 1.6% | 3.7% | 3.7% |
| Non-Recurring | 0 | 0 | 0 |
| Returns on Capital | |||
| ROIC | 10.2% | 15.3% | 20.3% |
| ROE | 2.4% | 6.7% | 6.5% |
| ROA | 0.6% | 1.7% | 1.6% |
| Cash Flow | |||
| Op. Cash Flow | 20M | 27M | 27M |
| Free Cash Flow | 3.6M | 11M | 11M |
| Owner Earnings | -8.1M | -7.1M | -7.1M |
| CapEx | 17M | 15M | 15M |
| Maint. CapEx | 27M | 33M | 33M |
| Growth CapEx | 0 | 0 | 0 |
| D&A | 27M | 33M | 33M |
| CapEx/OCF | N/A | N/A | 57.2% |
| Capital Allocation | |||
| Dividends Paid | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | 0.0% |
| Stock-Based Comp | 1.3M | 993K | 993K |
| Debt Repayment | 0 | 963K | 963K |
| Balance Sheet | |||
| Net Debt | 294M | 70M | 81M |
| Cash & Equiv. | 5.5M | 12M | 12M |
| Long-Term Debt | 20M | 78M | 78M |
| Debt/Equity | 1.67 | 0.47 | 0.47 |
| Interest Coverage | 1.0 | 1.3 | 1.3 |
| Equity | 182M | 196M | 196M |
| Total Assets | 711M | 774M | 774M |
| Total Liabilities | 528M | 578M | 578M |
| Intangibles | 208M | 209M | 209M |
| Retained Earnings | N/A | N/A | N/A |
| Working Capital | 71M | 87M | 87M |
| Current Assets | 158M | 202M | 202M |
| Current Liabilities | 87M | 115M | 115M |
| Per Share Data | |||
| EPS | 0.03 | 0.08 | 0.08 |
| Owner EPS | -0.06 | -0.04 | -0.04 |
| Book Value | 1.26 | 1.23 | 1.23 |
| Cash Flow/Share | 0.14 | 0.17 | 0.29 |
| Dividends/Share | N/A | N/A | 0.00 |
| Shares Out. | 145.3M | 158.8M | 158.8M |
| Valuation | |||
| P/E Ratio | N/A | N/A | N/A |
| P/FCF | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | 220.6 |
| Price/Book | N/A | N/A | 71.1 |
| Price/Sales | N/A | N/A | 40.4 |
| FCF Yield | N/A | N/A | 0.1% |
| Market Cap | N/A | N/A | 13.9B |
| Avg. Price | N/A | N/A | 87.79 |
| Year-End Price | N/A | N/A | 87.79 |
Karman Holdings Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average ROIC is 12.7% with a gross margin of 37.9%.
Karman Holdings Inc. (KRMN) has a current P/E ratio of 1097.4, compared to its historical median P/E of 15.0. The stock is currently considered Expensive based on its historical valuation range.
Karman Holdings Inc. (KRMN) has a 5-year average return on invested capital (ROIC) of 12.7%. This indicates solid capital allocation.
Karman Holdings Inc. (KRMN) has a market capitalization of $13.9B. It is classified as a large-cap stock.
Karman Holdings Inc. (KRMN) does not currently pay a regular dividend.
Based on historical P/E analysis, Karman Holdings Inc. (KRMN) appears expensive. The current P/E of 1097.4 is 7216% above its historical median of 15.0.
Karman Holdings Inc. (KRMN) operates in the Aircraft Parts & Auxiliary Equipment, Nec industry, within the Industrials sector.
Karman Holdings Inc. (KRMN) reported annual revenue of $345 million in its most recent fiscal year, based on SEC EDGAR filings.
Karman Holdings Inc. (KRMN) has a net profit margin of 3.7%. This is a modest margin.
Karman Holdings Inc. (KRMN) generated $11 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Karman Holdings Inc. (KRMN) has a debt-to-equity ratio of 0.47. This indicates a conservatively financed balance sheet.
Karman Holdings Inc. (KRMN) reported earnings per share (EPS) of $0.08 in its most recent fiscal year.
Karman Holdings Inc. (KRMN) has a return on equity (ROE) of 6.7%. This indicates moderate shareholder returns.
Karman Holdings Inc. (KRMN) has a 5-year average gross margin of 37.9%. This indicates decent pricing power.
The Ledger Terminal provides 2 years of financial data for Karman Holdings Inc. (KRMN), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Karman Holdings Inc. (KRMN) has a book value per share of $1.23, based on its most recent annual SEC filing.