Karman Holdings Inc. (KRMN) AI Stock Analysis

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 and has 1,400 employees.

Karman Holdings grew annual revenue from $226.3M in FY2022 to $280.7M in FY2023, $345.3M in FY2024, and $471.5M in FY2025, representing a 3-year revenue CAGR of 27.7%. Gross margin expanded over this period from 35.8% to 40.3%. Net income improved from -$14.1M in FY2022 to $17.4M in FY2025, with FY2025 EPS reaching $0.36. In the latest quarter ended June 30, 2026, quarterly revenue growth YoY was 58.2% and quarterly earnings growth YoY was 111.8%. Trailing twelve months revenue stands at $589.6M with an operating margin of 20.2% and EPS of $0.29.

As of June 30, 2026, Karman Holdings held $51.7M in cash and short-term investments and $875.3M in total debt, resulting in net debt of $823.5M. Shareholders' equity was $421.1M against total assets of $1.44B, yielding a debt-to-equity ratio of 2.08. The company maintained a current ratio of 3.56. During FY2025, operating cash flow was -$22.1M and capital expenditures were $20.3M, resulting in free cash flow of -$42.5M.

KRMN trades at a trailing P/E of 119.6x and a forward P/E of 41.3x, compared to medians of 24.8x and 17.2x for its US-listed Industrials peers. Its price-to-sales multiple is 7.8x versus the peer median of 1.5x, and its EV-to-EBITDA ratio is 33.0x compared to 13.9x for peers. Over the past year, the stock fell 54.9%, trailing the S&P 500 benchmark SPY return of 16.8%. At its last close of $34.68 on October 16, 2026, the stock traded 48.0% below its 200-day average.

Karman Holdings carries 9 Strong Buy and 4 Buy ratings from Wall Street analysts, with 0 Hold, 0 Sell, and 0 Strong Sell ratings. The mean price target is $81.75, which is 135.7% above the last close of $34.68. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $741.5M and EPS of $0.59, representing an estimated EPS growth of 58.4%. The company recorded 1 EPS beat over the last 4 quarters, and its next earnings date is November 5, 2026.

This page is an AI-written research summary of Karman Holdings Inc. (KRMN). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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