KRMN·Defense & space systems and engineered components (payload protection, propulsion structures, interstage/aerodynamic systems, integration)

Karman Holdings

ConvictionModerate

Engineering-led, vertically integrated build-to-print / build-to-spec manufacturer selling mission-critical subsystems to prime contractors and government agencies on cost-plus and fixed-price programs; long-cycle program revenue + acquisitive roll-up of niche space/defense suppliers.

Revenuefact

$471.5M FY2025$151.2M Q1 FY26

Rev growthfact

+36.6% FY2025 YoY+51.0% Q1 FY26 YoY

Gross marginfact

42.3% Q1 FY26FY2025 not separately disclosed in excerpt

Op marginfact

14.2% Q1 FY26

Capex intensity

~5% of revenuefact, management target/guide

Market cap

~$6.1Bfact, ~$46/share, 132.5M shares, 25 Jun 2026

Price · 1-year trend

real · weekly

$46-8% 1yUSD

52-week range

$45 – $109

52w lowas of 2026-06-25 · Yahoo Finance52w high

Across the boards

The thesis on this name

opportunityModerate

Space / launch economics

Full context

The read

Where our coverage leans

Coverage leans bullish

Members only

Full financial intelligence for Karman Holdings

Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.

Income statement & margin structure
SWOT, moats & dependency map
Supplier–customer ecosystem graph
Signals, trends & valuation range

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Not investment advice — analyst work product for a qualified professional.· intel vintage Jun 2026· sign in (free) for the analyst summary; Pro unlocks full intelligence