InsiderClue
Stocks · Industrials · Aircraft Parts & Auxiliary Equipment, NEC

Karman Holdings Inc.

KRMN Clue Score73
United States Fiscal year ends December CIK 0002040127
$32.59 +2.84% Close, 9 Oct 2026
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Price $32.59 −56.26% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 13 Feb 2025. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2022Revenue226.3Operating income20.4Net income−14.1EPS, diluted−0.09Fiscal year 2023Revenue280.7 +24.0%Operating income48.5Net income4.4EPS, diluted0.03Fiscal year 2024Revenue345.3 +23.0%Operating income63.6Net income12.7 +191.4%EPS, diluted0.08 +166.7%Fiscal year 2025Revenue471.5 +36.6%Operating income72.9Net income17.4 +36.7%EPS, diluted0.13 +62.5%
FY2022FY2023FY2024FY2025
Revenue 226.3 280.7 345.3 471.5
Growth +24.0% +23.0% +36.6%
Operating income 20.4 48.5 63.6 72.9
Net income −14.1 4.4 12.7 17.4
Growth +191.4% +36.7%
EPS, diluted −0.09 0.03 0.08 0.13
Growth +166.7% +62.5%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2022Gross margin35.8%Operating margin9.0%Net margin−6.2%Free cash flow margin−12.0%Fiscal year 2023Gross margin37.6%Operating margin17.3%Net margin1.6%Free cash flow margin1.3%Fiscal year 2024Gross margin38.3%Operating margin18.4%Net margin3.7%Free cash flow margin3.3%Fiscal year 2025Gross margin40.3%Operating margin15.5%Net margin3.7%Free cash flow margin−9.0%
FY2022FY2023FY2024FY2025
Gross margin 35.8% 37.6% 38.3% 40.3%
Operating margin 9.0% 17.3% 18.4% 15.5%
Net margin −6.2% 1.6% 3.7% 3.7%
Free cash flow margin −12.0% 1.3% 3.3% −9.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2022Operating cash flow−5.9Capital expenditure−21.3Free cash flow−27.2Fiscal year 2023Operating cash flow20.3Capital expenditure−16.8Free cash flow3.6Fiscal year 2024Operating cash flow26.6Capital expenditure−15.3Free cash flow11.4 +220.7%Fiscal year 2025Operating cash flow−22.1Capital expenditure−20.3Free cash flow−42.5 −472.6%
FY2022FY2023FY2024FY2025
Operating cash flow −5.9 20.3 26.6 −22.1
Capital expenditure −21.3 −16.8 −15.3 −20.3
Free cash flow −27.2 3.6 11.4 −42.5
Growth +220.7% −472.6%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2022Shareholders’ equity177.6Fiscal year 2023Cash5.5Total debt6.3Net cash (debt)−0.8Shareholders’ equity182.5Debt to equity0.03Fiscal year 2024Cash11.5Total debt7.1Net cash (debt)4.4Shareholders’ equity196.0Debt to equity0.04Fiscal year 2025Cash34.0Total debt3.8Net cash (debt)30.1Shareholders’ equity382.7Debt to equity0.01
FY2022FY2023FY2024FY2025
Cash n/a 5.5 11.5 34.0
Total debt n/a 6.3 7.1 3.8
Net cash (debt) n/a −0.8 4.4 30.1
Shareholders’ equity 177.6 182.5 196.0 382.7
Debt to equity n/a 0.03 0.04 0.01

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
35.8% 37.6% 38.3% 40.3%
9.0% 17.3% 18.4% 15.5%
−7.6% 0.4% 4.2% 6.9%
−6.2% 1.6% 3.7% 3.7%
−12.0% 1.3% 3.3% −9.0%
Spending
13.3% 13.0% 12.9% 18.2%
9.4% 6.0% 4.4% 4.3%
n/a −266.3% 11.4% 46.6%
Returns
−7.9% 2.4% 6.5% 4.5%
n/a 0.6% 1.6% 1.6%
Balance and payout
n/a 0.03 0.04 0.01
n/a 74.3% 74.7% 65.3%