Kratos Defense & Security Solutions, Inc. (KTOS) Key Metrics
KTOS valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $7.59B
- Enterprise value
- $7.42B
- P/E (TTM)
- 237.8 10-yr median 200.8
- Forward P/E
- 45.2
- PEG ratio
- 34.12
- Price / sales
- 5.0 10-yr median 2.6
- Price / book
- 2.5 10-yr median 2.8
- EV / EBITDA
- 64.0 10-yr median 42.0
- Dividend yield
- —
- Beta
- 1.11
KTOS key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsKTOS valuation Price multiples at each fiscal year-end price.
KTOS returns How much profit the business earns on the capital it uses.
KTOS per-share figures Results divided by the shares outstanding at year-end.
KTOS financial health Debt, liquidity and how easily interest is covered.
KTOS efficiency & capital use Working capital cycle and where the cash goes.
KTOS valuation history
KTOS returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
KTOS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
KTOS cash returned to shareholders
KTOS price vs earnings per share
KTOS key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $13.14B | $3.98B | $2.65B | $1.31B | $2.48B | $3.26B | $1.97B | $1.49B | $947.8M | $453.6M |
| Enterprise value | $12.72B | $3.93B | $2.89B | $1.53B | $2.47B | $3.22B | $2.14B | $1.68B | $1.11B | $816.5M |
| P/E ratio | 597.1 | 244.2 | — | — | — | 40.9 | 157.3 | — | — | — |
| Price / sales | 9.8 | 3.5 | 2.6 | 1.5 | 3.1 | 4.4 | 2.7 | 2.4 | 1.3 | 0.7 |
| Price / book | 6.6 | 2.9 | 2.7 | 1.4 | 2.6 | 3.5 | 3.3 | 2.9 | 1.9 | 1.6 |
| Price / free cash flow | — | — | 206.7 | — | — | 304.3 | 531.5 | — | — | — |
| Price / operating cash flow | — | 80.1 | 40.6 | — | 80.6 | 69.9 | 65.6 | 82.6 | — | — |
| EV / sales | 9.4 | 3.5 | 2.8 | 1.7 | 3.0 | 4.3 | 3.0 | 2.7 | 1.5 | 1.2 |
| EV / EBITDA | 122.6 | 42.0 | 37.3 | 58.3 | 39.4 | 50.1 | 28.8 | 34.9 | — | 157.0 |
| EV / free cash flow | — | — | 226.1 | — | — | 301.3 | 577.7 | — | — | — |
| Earnings yield | 0.2% | 0.4% | −0.3% | −2.8% | −0.1% | 2.4% | 0.6% | −0.2% | −4.5% | −13.3% |
| Free cash flow yield | −1.0% | −0.2% | 0.5% | −5.4% | −0.6% | 0.3% | 0.2% | −0.3% | −5.6% | −4.8% |
| Dividend yield | — | — | — | 0.5% | 0.1% | 0.0% | 0.2% | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | — | — | 0.1% | 1.4% | 0.5% | 0.1% | 0.2% | 0.1% | 0.0% | 0.0% |
| Share price at fiscal year-end | $75.91 | $26.38 | $20.29 | $10.32 | $19.40 | $27.43 | $18.01 | $14.09 | $10.59 | $7.40 |
| Per share | ||||||||||
| Revenue per share | $7.78 | $7.53 | $7.95 | $7.09 | $6.34 | $6.30 | $6.57 | $5.82 | $8.40 | $10.91 |
| Earnings per share | $0.13 | $0.11 | −$0.07 | −$0.29 | −$0.02 | $0.67 | $0.11 | −$0.03 | −$0.48 | −$0.99 |
| Operating cash flow per share | −$0.24 | $0.33 | $0.50 | −$0.20 | $0.24 | $0.39 | $0.27 | $0.17 | −$0.30 | −$0.20 |
| Free cash flow per share | −$0.79 | −$0.06 | $0.10 | −$0.56 | −$0.12 | $0.09 | $0.03 | −$0.04 | −$0.60 | −$0.35 |
| Cash per share | $3.24 | $2.18 | $0.56 | $0.64 | $2.73 | $3.21 | $1.58 | $1.72 | $1.45 | $1.13 |
| Book value per share | $11.54 | $8.97 | $7.48 | $7.39 | $7.38 | $7.80 | $5.39 | $4.89 | $5.72 | $4.51 |
| Tangible book value per share | $7.78 | $4.84 | $2.64 | $2.55 | $3.19 | $3.36 | $0.86 | $0.73 | $0.32 | −$3.94 |
| Dividends per share | — | — | — | $0.05 | $0.03 | $0.01 | $0.03 | — | $0.00 | $0.00 |
| Capex per share | $0.55 | $0.39 | $0.40 | $0.36 | $0.36 | $0.30 | $0.24 | $0.21 | $0.30 | $0.15 |
| Debt per share | $0.84 | $1.87 | $2.46 | $2.38 | $2.65 | $2.94 | $3.14 | $3.46 | $3.29 | $7.05 |
| Shares outstanding | 173.1M | 150.9M | 130.4M | 126.7M | 128.0M | 118.7M | 109.2M | 106.1M | 89.5M | 61.3M |
| Change in shares outstanding | +14.7% | +15.7% | +2.9% | −1.0% | +7.8% | +8.7% | +2.9% | +18.5% | +46.0% | +4.4% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 1.3% | 1.4% | −0.9% | −3.9% | −0.2% | 10.5% | 2.3% | −0.7% | −10.8% | −22.8% |
| Return on invested capital (ROIC) | 1.2% | 1.4% | 1.3% | −0.2% | 1.5% | 3.5% | 3.6% | 2.2% | −0.7% | −2.2% |
| Return on assets (ROA) | 1.0% | 0.9% | −0.6% | −2.3% | −0.1% | 5.8% | 1.1% | −0.3% | −4.3% | −6.5% |
| Return on tangible assets | 1.2% | 1.2% | −0.9% | −3.9% | −0.2% | 7.7% | 1.8% | −0.6% | −7.9% | −14.1% |
| Free cash flow margin | −10.2% | −0.7% | 1.2% | −7.9% | −1.9% | 1.4% | 0.5% | −0.7% | −7.1% | −3.2% |
| Income quality (OCF / net income) | −1.91 | 3.05 | — | — | — | 0.59 | 2.40 | — | — | — |
| Financial health | ||||||||||
| Total debt | $145.8M | $282.0M | $321.4M | $301.8M | $339.5M | $348.5M | $343.4M | $367.4M | $294.3M | $432.0M |
| Cash & short-term investments | $560.6M | $329.3M | $72.8M | $81.3M | $349.4M | $380.8M | $172.6M | $182.7M | $129.6M | $69.1M |
| Net debt | −$414.8M | −$47.3M | $248.6M | $220.5M | −$9.9M | −$32.3M | $170.8M | $184.7M | $164.7M | $362.9M |
| Debt / equity | 0.07 | 0.21 | 0.33 | 0.32 | 0.36 | 0.38 | 0.58 | 0.71 | 0.58 | 1.56 |
| Debt / assets | 0.06 | 0.14 | 0.20 | 0.19 | 0.21 | 0.22 | 0.29 | 0.36 | 0.29 | 0.46 |
| Net debt / EBITDA | −4.00 | −0.51 | 3.21 | 8.42 | −0.16 | −0.50 | 2.30 | 3.84 | — | 69.79 |
| Current ratio | 4.06 | 2.94 | 2.03 | 2.49 | 3.43 | 3.87 | 2.86 | 3.00 | 2.49 | 1.90 |
| Quick ratio | 3.46 | 2.39 | 1.50 | 1.95 | 3.01 | 3.46 | 2.52 | 2.72 | 2.23 | 1.62 |
| Interest coverage | 2.6 | 1.9 | 1.4 | -0.2 | 1.2 | 1.2 | 1.6 | 1.4 | -0.2 | -0.5 |
| Working capital | $951.9M | $575.4M | $301.7M | $348.4M | $537.0M | $567.2M | $339.5M | $330.0M | $282.4M | $176.6M |
| Invested capital | $1.58B | $1.31B | $1.22B | $1.16B | $935.2M | $893.0M | $759.9M | $704.0M | $676.2M | $639.3M |
| Tangible asset value | $1.35B | $730.5M | $367.0M | $334.1M | $423.2M | $413.2M | $94.0M | $77.5M | $28.3M | −$241.6M |
| Net current asset value | $792.0M | $274.4M | −$39.8M | −$21.4M | $128.9M | $142.1M | −$74.7M | $3.9M | −$41.2M | −$299.1M |
| Graham number | $5.74 | $4.67 | — | — | — | $10.85 | $3.73 | — | — | — |
| Graham net-net per share | $3.04 | $0.37 | −$1.81 | −$1.69 | −$0.16 | $0.02 | −$1.79 | −$1.01 | −$1.75 | −$6.58 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | $6.3M | $3.2M | $1.4M | $3.1M | — | $0 | $0 |
| Share buybacks (net) | — | — | $3.7M | $12.5M | $9.1M | $1.4M | $900,000 | $1.1M | $0 | $0 |
| Dividend payout ratio | — | — | — | — | — | 1.8% | 24.8% | — | — | — |
| Dividends + buybacks / free cash flow | — | — | 28.9% | — | — | 26.2% | 108.1% | — | — | — |
| Capex / revenue | 7.1% | 5.1% | 5.1% | 5.1% | 5.7% | 4.8% | 3.7% | 3.7% | 3.5% | 1.4% |
| Capex / operating cash flow | — | 117.1% | 80.4% | — | 151.0% | 77.0% | 87.7% | 124.9% | — | — |
| Capex / depreciation | 1.61 | 1.12 | 1.17 | 1.11 | 1.34 | 1.06 | 0.73 | 1.26 | 1.18 | 0.40 |
| Stock-based compensation / revenue | 2.6% | 2.6% | 2.4% | 2.9% | 3.2% | 2.8% | 1.5% | 1.2% | 1.0% | 0.8% |
| R&D / revenue | 3.0% | 3.5% | 3.7% | 4.3% | 4.3% | 3.6% | 2.5% | 2.5% | 2.4% | 2.1% |
| SG&A / revenue | 17.8% | 18.8% | 18.5% | 20.3% | 19.7% | 19.3% | 17.2% | 18.4% | 21.4% | 15.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 105.8 | 104.8 | 115.7 | 124.5 | 125.2 | 131.0 | 127.6 | 149.4 | 120.8 | 119.0 |
| Days of inventory on hand | 61.0 | 68.4 | 66.9 | 59.0 | 53.8 | 47.7 | 37.3 | 39.6 | 34.8 | 39.3 |
| Days payables outstanding | 26.4 | 31.2 | 28.6 | 29.2 | 32.9 | 36.6 | 34.7 | 38.8 | 33.4 | 35.8 |
| Cash conversion cycle (days) | 140.4 | 142.1 | 154.0 | 154.2 | 146.1 | 142.1 | 130.2 | 150.1 | 122.2 | 122.6 |
| Receivables turnover | 3.45 | 3.48 | 3.16 | 2.93 | 2.91 | 2.79 | 2.86 | 2.44 | 3.02 | 3.07 |
| Payables turnover | 13.83 | 11.70 | 12.77 | 12.48 | 11.09 | 9.97 | 10.51 | 9.40 | 10.93 | 10.20 |
| Inventory turnover | 5.99 | 5.34 | 5.46 | 6.19 | 6.78 | 7.65 | 9.78 | 9.22 | 10.48 | 9.28 |
| Asset turnover | 0.61 | 0.63 | 0.65 | 0.57 | 0.51 | 0.54 | 0.65 | 0.61 | 0.76 | 0.72 |
| Average receivables | $390.5M | $326.4M | $328.7M | $306.4M | $278.4M | $268.3M | $250.9M | $252.9M | $248.9M | $218.1M |
| Average payables | $75.8M | $72.5M | $60.2M | $53.9M | $52.9M | $54.6M | $50.2M | $47.7M | $50.8M | $50.5M |
| Average inventory | $175.2M | $159.2M | $140.8M | $108.6M | $86.5M | $71.2M | $54.0M | $48.6M | $52.9M | $55.5M |
| Intangibles / total assets | 26.3% | 31.9% | 38.7% | 39.5% | 33.8% | 33.7% | 41.7% | 43.7% | 47.2% | 54.6% |
Computed from KTOS's annual financial statements (latest annual report filed February 23, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
KTOS valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Kratos Defense & Security Solutions traded at 597.1 times earnings, against a 10-year median of 200.8. Based on the latest twelve months, the trailing P/E is 237.8 and the forward P/E is 45.2. Kratos Defense & Security Solutions earned a return on equity of 1.3% and a return on invested capital of 1.2% in fiscal 2025. It ended the year with $145.8 million of debt and $560.6 million in cash and short-term investments, a net cash position of $414.8 million. The share count rose 182.3% from 61.3M to 173.1M over 9 years.
See the KTOS income statement, the KTOS chart for price history, or the KTOS stock overview for the latest quote and news.
KTOS key metrics FAQ
What is Kratos Defense & Security Solutions's P/E ratio?
Kratos Defense & Security Solutions's trailing P/E ratio is 237.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 45.2. At the end of fiscal 2025 it was 597.1, compared with a 10-year median of 200.8.
What is Kratos Defense & Security Solutions's EV/EBITDA?
Kratos Defense & Security Solutions's enterprise value was 122.6 times EBITDA at the end of fiscal 2025 (enterprise value $12.7 billion, EBITDA $103.8 million); the current EV/EBITDA is 64.0.
What is Kratos Defense & Security Solutions's return on equity?
Kratos Defense & Security Solutions's return on equity (ROE) was 1.3% in fiscal 2025: net income of $22.0 million on average shareholders' equity of $1.7 billion.
What is Kratos Defense & Security Solutions's ROIC?
Kratos Defense & Security Solutions's return on invested capital was 1.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Kratos Defense & Security Solutions have?
Kratos Defense & Security Solutions had total debt of $145.8 million at the end of fiscal 2025, a debt-to-equity ratio of 0.07 and more cash than debt.
What is Kratos Defense & Security Solutions's free cash flow yield?
Kratos Defense & Security Solutions generated -$137.4 million of free cash flow in fiscal 2025, a free cash flow yield of −1.0% on its market value at year-end ($13.1 billion).
What is Kratos Defense & Security Solutions's current ratio?
Kratos Defense & Security Solutions's current ratio was 4.06 at the end of fiscal 2025: current assets were 4.06 times current liabilities.