KRMN - NYSE

Karman Holdings Inc.

KRMN·NYSE

$51.84

-1.4%

IndustrialsAerospace & Defense

Karman Holdings Inc., through its subsidiary, Karman Space and Defense, engages in designing, testing, manufacturing, and sale of mission-critical systems for missile and defense, space programs, hypersonic, and launch vehicle markets. It also supplies metallic and composite flight hardware and sub-assemblies. In addition, the company provides solutions for payload protection and deployment systems, aerodynamic interstage systems, and propulsion systems. The company was incorporated in 2020 and is based in Huntington Beach, California. Karman Holdings Inc. is a subsidiary of TCFIII Spaceco SPV LP.

Statements Value Model

At a Glance

Live Snapshot

Market Cap$6.87B

EPS0.1300

P/E Ratio398.77

Earnings Date08/06/2026

1.14B

Assets

48%

3Y+67.0%

5Y+67.0%

10Y+67.0%

759.98M

Total Liabilities

31%

3Y+50.0%

5Y+50.0%

10Y+50.0%

382.69M

Total Equity

95%

3Y+115.0%

5Y+115.0%

10Y+115.0%

Karman Holdings Inc. Funding & Solvency Profile

KRMN · NYSE

Current Assets

Cash & Cash Equivalents33.96M

Net Receivables235.01M

Inventory10.66M

Other Current Assets11.77M

Total Current Assets291 M

Non-Current Assets

Property, Plant & Equipment207.01M

Goodwill & Intangible Assets638.40M

Long-Term Investments0.00

Other Non-Current Assets5.85M

Total Non-Current Assets213 M

Total Assets

1.14B

Financial Health Analysis

Current Ratio

3.29x

Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.

Debt-to-Equity Ratio

1.99x

Elevated leverage. Debt exceeds equity, which amplifies both gains and risks. Monitor debt servicing ability.

Working Capital

203 M

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

26% Current

Capital-intensive business with significant long-term investments in property, equipment, or intangibles.

Financial Health Insight

Mixed signals: Strong short-term liquidity provides comfort, but high overall leverage requires careful monitoring of debt servicing capabilities and refinancing risk.

Karman Holdings Inc. Balance Sheet

KRMN • NYSE

Karman Holdings Inc. Balance Sheet	Dec 2025	Dec 2024	Dec 2023	Dec 2022
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents	34M	11.5M	5.5M	6.6M
Cash & Short-Term Investments	34M	11.5M	5.5M	6.6M
Net Receivables	235M	162.4M	139.8M	108.9M
Accounts Receivables	235M	55.2M	50.6M	47.6M
Other Receivables	0.0	107.2M	89.2M	61.3M
Inventory	10.7M	9.9M	9.8M	2.3M
Prepaids	0.0	5.7M	2.6M	1.9M
Other Current Assets	11.8M	12.2M	0.0	0.0
Total Current Assets	291.4M	201.7M	157.7M	119.7M
NON-CURRENT ASSETS
Property, Plant, and Equipment (Net)	207M	137M	58.2M	55.5M
Goodwill	352.5M	225.1M	217.3M	217.3M
Intangible Assets	285.9M	209M	207.6M	222M
Goodwill & Intangible Assets	638.4M	434.1M	424.8M	439.2M
Long-Term Investments	0.0	0.0	0.0	563.5K
Other Non-Current Assets	5.9M	1.2M	70.1M	67.5M
Total Non-Current Assets	851.3M	572.2M	553.1M	562.9M
Total Assets	1.1B	774M	710.8M	682.6M
LIABILITIES
CURRENT LIABILITIES
Total Payables	36.9M	48.3M	28.6M	15.3M
Accounts Payable	31.6M	28.3M	21M	12.9M
Other Payables	5.3M	20.1M	7.6M	2.4M
Accrued Expenses	13.8M	11.2M	12.5M	5.8M
Short Term Debt	3.8M	7.1M	6.3M	6.3M
Capital Lease Obligations (Current)	6.2M	5.5M	3.6M	6M
Tax Payables	5.3M	20.1M	7.6M	2.4M
Deferred Revenue	22.8M	29.9M	36.1M	16.1M
Other Current Liabilities	5.1M	12.5M	0.0	8.9M
Total Current Liabilities	88.7M	114.6M	87.1M	58.3M
NON-CURRENT LIABILITIES
Long Term Debt	495.3M	351.9M	318M	320.2M
Deferred Tax Liabilities (Non-Current)	86.4M	25.4M	36.9M	47.6M
Other Non-Current Liabilities	7.7M	2.8M	5M	7.8M
Total Non-Current Liabilities	671.3M	463.4M	441.3M	446.7M
Capital Lease Obligations	88.2M	88.8M	85M	77.1M
Total Liabilities	760M	578M	528.4M	505M
SHAREHOLDERS' EQUITY
Common Stock	132K	204.3M	203.4M	202.9M
Additional Paid-In Capital	373.5M	0.0	0.0	0.0
Retained Earnings	9M	-8.3M	-21M	-25.4M
Accumulated Other Comprehensive Income/Loss	75K	75.1K	76.3K	75.9K
Total Stockholders' Equity	382.7M	196M	182.5M	177.6M
Total Equity	382.7M	196M	182.5M	177.6M
SUMMARY
Total Liabilities & Equity	1.1B	774M	710.8M	682.6M
Total Investments	0.0	0.0	0.0	563.5K
Total Debt	587.3M	447.9M	409.3M	403.6M
Net Debt	553.3M	436.3M	403.9M	397M
Shares Outstanding	132,322,435	132,322,435	132,322,435	132,322,435

SEC Filings

KRMN - Filing history and reports

Filing Type	Filing Date	Period Ending	Fiscal Year	Actions
8-K 8-K 2026 N/A	June 01, 2026	May 28, 2026	2026	View Filing
10-Q 10-Q 2026 Q1 Q1	May 14, 2026	March 31, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 12, 2026	May 12, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 04, 2026	April 29, 2026	2026	View Filing
DEF 14A DEF 14A 2026 N/A	April 08, 2026	April 29, 2026	2026	View Filing
10-K 10-K 2025 FY FY	April 03, 2026	December 31, 2025	2025	View Filing
8-K 8-K 2026 N/A	March 25, 2026	March 25, 2026	2026	View Filing
8-K 8-K 2026 N/A	March 13, 2026	March 09, 2026	2026	View Filing
8-K 8-K 2026 N/A	March 12, 2026	March 06, 2026	2026	View Filing
8-K 8-K 2025 N/A	February 06, 2026	December 31, 2025	2025	View Filing

Showing 1 to 10 of 33 filings

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