Présentation de l'entreprise
Karman Holdings Inc. operates within the Industrials sector, specifically focusing on the Aerospace & Defense industry, where it designs, tests, manufactures, and sells mission-critical systems in the United States. The company's core offerings include payload protection and deployment systems, aerodynamic interstage systems, and propulsion systems, which are essential for its clients in the hyper-supersonic and space sectors. This enterprise commands a substantial market capitalization of $11.63 billion, supported by an annual recurring revenue stream of $471.50 million and a workforce comprising 1,400 employees. The combination of a double-digit billion-dollar market cap and a revenue base exceeding four hundred million dollars suggests that Karman Holdings has secured a significant foothold in a high-growth, capital-intensive segment of the aerospace supply chain.
Santé financière
The company reported a trailing twelve-month revenue of $471.50 million, with a corresponding net income of $17.37 million and an EBITDA of $115.68 million. The substantial disparity between the $471.50 million in revenue and the $17.37 million in net income indicates a cost structure where operating expenses, likely including research and development or selling, general, and administrative costs, consume approximately 96.3% of gross revenue before reaching the bottom line. While the company generates significant operating earnings, its free cash flow stands at -$41,055,624, signaling that capital expenditures or working capital requirements currently exceed the cash generated from operations. Regarding profitability efficiency, Karman Holdings maintains a gross margin of 40.3%, an operating margin of 15.7%, and a profit margin of 3.7%, reflecting a business model with healthy top-line efficiency but compressed net profitability typical of the defense industrial base. On the liability side, the company holds $33.96 million in cash against total debt obligations of $587.31 million, resulting in a debt-to-equity ratio of 153.47% which characterizes a highly leveraged balance sheet. Liquidity is robustly supported by a current ratio of 3.29, indicating that current assets are more than three times current liabilities and providing ample coverage for short-term obligations. Management effectiveness is further scrutinized through return metrics, where the Return on Equity is 6.0% and the Return on Assets is 4.9%, revealing that the firm generates modest returns relative to the capital invested and its asset base.
Évaluation de la valorisation
Valuation multiples for Karman Holdings Inc. show a Trailing Twelve Months (TTM) P/E ratio of 675.00 and a Forward P/E of 89.70. The significant reduction from the historical P/E to the forward P/E implies that the market expects a dramatic improvement in earnings per share, driven largely by the reported year-over-year earnings growth of 482.9%. The Price to Book ratio is recorded at 30.34, which indicates that the stock trades at a massive premium over its tangible book value, reflecting high growth expectations rather than current asset backing. Alternative valuation measures such as a Price to Sales ratio of 24.66 and an EV/EBITDA of 105.31 suggest that the company is priced aggressively, often seen in emerging technology or high-growth aerospace firms where future cash flows are valued over current cash generation. In terms of trading range, the 52-week high is $118.38 and the 52-week low is $25.61. Without a specific current share price provided in the facts to calculate an exact percentage, the metrics confirm the stock is actively trading within a highly volatile range defined by these extremes. The Beta is listed as N/A, meaning volatility relative to the broader market cannot be quantified with the available data points.
Growth & Income
Karman Holdings Inc. has demonstrated explosive growth with a Revenue Growth (YoY) of 47.4% and an Earnings Growth (YoY) of 482.9%. The earnings growth rate vastly outpaces the revenue growth rate, suggesting that the company is benefiting from significant operational leverage, cost synergies, or a shift to higher-margin products that amplify profitability faster than top-line expansion. As a non-dividend payer, the company reports a Dividend Yield of N/A and a Payout Ratio of 0.0%, indicating that all net income is retained within the enterprise to fund operations, repay debt, or fuel further expansion rather than being distributed to shareholders. The absence of a dividend program aligns with the company's high growth profile and leveraged capital structure, where capital preservation and reinvestment are prioritized over income generation. Overall, the firm presents a high-growth, low-income profile characterized by rapid earnings acceleration and zero dividend distribution, typical of a capital-intensive aerospace manufacturer in a scaling phase.