KRMN - Karman Holdings Inc.
Price:
--
--
|
CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$114.50
DETAILS
HIGH:
$130.00
LOW:
$100.00
MEDIAN:
$116.00
CONSENSUS:
$114.50
UPSIDE:
78.63%
| Metric | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Revenue | ||||
| Revenue | 471.5 | 345.3 | 280.7 | 226.3 |
| Cost of Revenue | 281.5 | 213.1 | 175.2 | 145.4 |
| Gross Profit | 190.0 | 132.1 | 105.5 | 80.9 |
| Operating Expenses | ||||
| R&D Expenses | 0 | 0 | 0 | 0 |
| SG&A Expenses | 85.7 | 44.4 | 36.6 | 30.0 |
| Other Expenses | 31.4 | 24.1 | 20.4 | 30.5 |
| Operating Expenses | 117.1 | 68.6 | 57.1 | 60.5 |
| Operating Income | ||||
| Operating Income | 72.9 | 63.6 | 48.5 | 20.4 |
| Interest Expense | 44.6 | 50.7 | 47.9 | 37.5 |
| Interest Income | 0 | 0 | 0 | 0 |
| Profitability | ||||
| EBITDA | 119.8 | 97.9 | 76.2 | 55.2 |
| EBIT | 77.1 | 65.1 | 49.1 | 20.2 |
| Income Before Tax | 32.5 | 14.3 | 1.2 | (17.3) |
| Income Tax Expense | 15.2 | 1.6 | (3.2) | (3.2) |
| Net Income | 17.4 | 12.7 | 4.4 | (14.1) |
| Per Share Data | ||||
| EPS (Basic) | 0.13 | 0.10 | 0.03 | -0.11 |
| EPS (Diluted) | 0.13 | 0.10 | 0.03 | -0.11 |
| Shares Outstanding | 132.3 | 132.2 | 132.2 | 132.2 |
| Metric | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Current Assets | ||||
| Cash & Cash Equivalents | 34.0 | 11.5 | 5.5 | 6.6 |
| Short-Term Investments | 0 | 0 | 0 | 0 |
| Net Receivables | 235.0 | 162.4 | 139.8 | 108.9 |
| Inventory | 10.7 | 9.9 | 9.8 | 2.3 |
| Other Current Assets | 11.8 | 12.2 | 0 | 0 |
| Total Current Assets | 291.4 | 201.7 | 157.7 | 119.7 |
| Non-Current Assets | ||||
| Property, Plant & Equipment | 207.0 | 137.0 | 58.2 | 55.5 |
| Goodwill | 352.5 | 225.1 | 217.3 | 217.3 |
| Intangible Assets | 285.9 | 209.0 | 207.6 | 222.0 |
| Long-Term Investments | 0 | 0 | 0 | 0.6 |
| Other Non-Current Assets | 5.9 | 1.2 | 70.1 | 67.5 |
| Total Non-Current Assets | 851.3 | 572.2 | 553.1 | 562.9 |
| Total Assets | 1,142.7 | 774.0 | 710.8 | 682.6 |
| Current Liabilities | ||||
| Account Payables | 31.6 | 28.3 | 21.0 | 12.9 |
| Short-Term Debt | 3.8 | 7.1 | 6.3 | 6.3 |
| Deferred Revenue | 22.8 | 29.9 | 36.1 | 16.1 |
| Other Current Liabilities | 5.1 | 12.5 | 0 | 8.9 |
| Total Current Liabilities | 88.7 | 114.6 | 87.1 | 58.3 |
| Non-Current Liabilities | ||||
| Long-Term Debt | 495.3 | 351.9 | 318.0 | 320.2 |
| Deferred Tax Liabilities | 86.4 | 25.4 | 36.9 | 47.6 |
| Other Non-Current Liabilities | 7.7 | 2.8 | 5.0 | 7.8 |
| Total Non-Current Liabilities | 671.3 | 463.4 | 441.3 | 446.7 |
| Total Liabilities | 760.0 | 578.0 | 528.4 | 505.0 |
| Stockholders' Equity | ||||
| Common Stock | 0.1 | 204.3 | 203.4 | 202.9 |
| Retained Earnings | 9.0 | (8.3) | (21.0) | (25.4) |
| Accumulated Other Comprehensive Income | 0.1 | 0.1 | 0.1 | 0.1 |
| Total Stockholders' Equity | 382.7 | 196.0 | 182.5 | 177.6 |
| Total Liabilities & Equity | 1,142.7 | 774.0 | 710.8 | 682.6 |
| Debt Metrics | ||||
| Total Debt | 587.3 | 447.9 | 409.3 | 403.6 |
| Net Debt | 553.3 | 436.3 | 403.9 | 397.0 |
| Metric | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Operating Activities | ||||
| Net Income | 17.4 | 12.7 | 4.4 | (14.1) |
| Depreciation & Amortization | 42.7 | 32.8 | 27.2 | 35.0 |
| Stock-Based Compensation | 1.4 | 1.0 | 1.3 | 1.6 |
| Change in Working Capital | (93.3) | (10.0) | (4.6) | (21.3) |
| Other Non-Cash Items | (0.9) | 1.6 | 2.8 | 2.8 |
| Operating Cash Flow | (22.1) | 26.6 | 20.3 | (5.9) |
| Investing Activities | ||||
| Capital Expenditure | (20.3) | (15.3) | (16.8) | (21.3) |
| Acquisitions | (211.9) | (31.3) | 0 | 0 |
| Purchases of Investments | (6) | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0.6 | 0.0 |
| Other Investing Activities | 0 | 0.3 | 0 | 0 |
| Investing Cash Flow | (238.3) | (46.2) | (16.2) | (21.3) |
| Financing Activities | ||||
| Net Debt Issuance | 126.5 | 27.6 | 1.8 | (14.9) |
| Stock Repurchased | 0 | (0.2) | (0.8) | (0.1) |
| Dividends Paid | 0 | (0.2) | (0.8) | (0.1) |
| Other Financing Activities | 1.5 | (1.6) | (5.5) | 0.1 |
| Financing Cash Flow | 282.8 | 25.7 | (5.3) | 16.7 |
| Cash Position | ||||
| Net Change in Cash | 22.4 | 6.1 | (1.2) | (10.4) |
| Cash at Beginning | 11.5 | 5.5 | 6.6 | 17.0 |
| Cash at End | 34.0 | 11.5 | 5.5 | 6.6 |
| Free Cash Flow | (42.5) | 11.4 | 3.6 | (27.2) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | 471.5 | 345.3 | 280.7 | 226.3 |
| Gross Profit | 190.0 | 132.1 | 105.5 | 80.9 |
| Operating Income | 72.9 | 63.6 | 48.5 | 20.4 |
| Net Income | 17.4 | 12.7 | 4.4 | (14.1) |
| EPS (Diluted) | 0.13 | 0.10 | 0.03 | -0.11 |
| Balance Sheet | ||||
| Cash & Equivalents | 34.0 | 11.5 | 5.5 | 6.6 |
| Total Assets | 1,142.7 | 774.0 | 710.8 | 682.6 |
| Total Debt | 587.3 | 447.9 | 409.3 | 403.6 |
| Stockholders' Equity | 382.7 | 196.0 | 182.5 | 177.6 |
| Cash Flow | ||||
| Operating Cash Flow | (22.1) | 26.6 | 20.3 | (5.9) |
| Capital Expenditure | (20.3) | (15.3) | (16.8) | (21.3) |
| Free Cash Flow | (42.5) | 11.4 | 3.6 | (27.2) |