Karman Holdings Inc. KRMN
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Full analysis: 4 Aug 2026
Latest news check: 7 Aug 2026
General analysis — not personal advice.
HOLD
6/10
Confidence
Existing position can be maintained pending the Q2 report.
Strong organic growth, raised full-year guidance and record backlog are weighed against continued high leverage and integration risks from multiple acquisitions.
Market sentiment
8/10
↑
Trend: Improving
The market reacts positively to the strong organic growth, raised guidance and record backlog.
Price context
The stock closes at 55.12 USD after a 14.5 % weekly gain, reflecting the market reaction to the report yet remains well below the 52-week high.
Risk assessment
6/10
Dilution:
Medium
Secondary offering completed in 2026, further capital needs possible
Jurisdiction:
Low
Operations primarily in the US
Execution:
Medium
Multiple acquisitions under integration
Recent changes
- Results beat estimates driven by strong organic growth and record order backlog.
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Show all changes (2) — follow the company freeAbout the company
Karman Holdings designs, manufactures and sells critical systems for missiles, hypersonic programs, spacecraft and unmanned aerial systems. The company is in a high-growth phase with a large backlog and has recently turned profitable.
Sector:
Aerospace & Defense
Type:
Industrial
Next report
5 Nov 2026
Q3
Catalysts
Nov 2026
Q3 report
High
Q4 2026
Walker Precision integration
Medium
Horizon:
Bull case
Strong organic growth and record backlog provide high revenue visibility and potential for margin improvement.
Bear case
High leverage and integration risks from acquisitions may constrain future cash flow.
Sensitivity analysis
| Factor | If it weakens | If it strengthens |
|---|---|---|
| Backlog conversion | Weak conversion → lower revenue growth and margin pressure. | Strong conversion → higher revenues and improved cash flow. |
| Acquisition integration | Failed integration → higher costs and lower synergies. | Successful integration → increased capacity and margin improvement. |
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Signal rationale (informational)
Strong organic growth, raised full-year guidance and record backlog are weighed against continued high leverage and integration risks from multiple acquisitions.
Recent news
- Karman Holdings released its Q2 report on August 6 with revenue of 182.1 MUSD and net income of 14.0 MUSD, both beating expectations. The company raised full-year guidance, announced the acquisition of Walker Precision Engineering for 94 MUSD and renegotiated loans expected to cut annual interest costs by about 4 MUSD. Backlog reached a record 1.3 billion USD.
Key figures
Revenue
Q2 2026
USD 182M
Revenue TTM
TTM
USD 523M
EBITDA
Q1 2026
USD 44.8M
Net income
Q2 2026
USD 14.0M
Cash
Q1 2026
USD 73.8M
Total debt
Q1 2026
USD 758M
Gross margin
Q1 2026
42.2%
Shares outstanding
Q2 2026
RAW 133M
EPS
Q2 2026
USD 0.11
Price & valuation
Last close
USD 61.94
Market Cap
USD 8.2B
1 week
+12.4 %
3 months
-7.9 %
12 months
+26.3 %
From 52w high
-46.3 %
From 52w low
+38.1 %
Exchange
NYSE
Type
Industrials
Sector
Aerospace & Defense
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Firelda provides general information and analysis, not personal investment advice. Content does not consider your financial situation or goals. Investments can rise and fall in value. Always do your own research.