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 FY26Rev growthfact
+36.6% FY2025 YoY+51.0% Q1 FY26 YoYGross marginfact
42.3% Q1 FY26FY2025 not separately disclosed in excerptOp marginfact
14.2% Q1 FY26Capex intensity
~5% of revenuefact, management target/guideMarket cap
~$6.1Bfact, ~$46/share, 132.5M shares, 25 Jun 2026Price · 1-year trend
real · weekly$50+5% 1yUSD
52-week range
$45 – $115
52w lowas of 2026-07-08 · Yahoo Finance52w high
Across the boards
The thesis on this name
opportunityModerate
Space / launch economics
Full context
Primary source
Reported financials — SEC EDGAR
Audited GAAP figures pulled from SEC filings · latest filing 2026-04-03. The audited primary-source spine — not investment advice.
Revenue — annual (GAAP)
FY’24
$345M
FY’25
$472M+37%
Margins & balance sheet — FY’25
Gross margin40.3%
Operating margin15.5%
Net margin3.7%
Net cash$68M
The read
Where our coverage leans
Coverage leans bullish
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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
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