KRMN
IndustrialsKarman Holdings Inc. · Aerospace & Defense · $8B
What is Karman Holdings Inc.?
Karman Holdings Inc. operates through its subsidiary Karman Space and Defense, delivering mission-critical hardware to the missile defense, space launch, and hypersonic vehicle markets. Headquartered in Huntington Beach, California, it serves some of the most demanding programs in modern aerospace and defense.
The company designs, tests, manufactures, and sells flight hardware and sub-assemblies used in missiles, launch vehicles, hypersonic systems, and space programs. Revenue comes from supplying both metallic and composite structural components alongside integrated solutions for payload protection, aerodynamic interstage systems, and propulsion systems. Karman operates as a subsidiary of TCFIII Spaceco SPV LP, positioning it within a private-equity-backed structure focused on defense and space markets.
Karman Holdings was incorporated in 2020 and is based in Huntington Beach, California.
- Metallic and composite flight hardware and sub-assemblies
- Payload protection and deployment systems
- Aerodynamic interstage systems
- Propulsion system solutions
- Mission-critical components for hypersonic and launch vehicles
Is KRMN a Good Stock to Buy?
UQS Score rates KRMN as Below Average overall.
The standout element in KRMN's profile is its Growth pillar, which rates Strong — reflecting the rapid expansion of demand across defense, hypersonics, and commercial space launch markets where Karman operates. That growth trajectory is one of the few clear positives in the current composite picture.
The Quality, Moat, and Risk pillars all rate Weak, signaling concerns around business durability, competitive positioning, and financial stability. The Valuation pillar reads Elevated, suggesting the market may already be pricing in optimistic outcomes.
Pro members can view the full pillar breakdown and underlying financial metrics to assess whether KRMN's growth story justifies its current risk profile. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does KRMN pay dividends?
No — Karman Holdings Inc. does not currently pay a dividend.
Karman Holdings does not currently pay a dividend. As a recently incorporated, growth-oriented defense and space hardware company operating within a private-equity-backed structure, capital is directed toward scaling manufacturing capabilities and pursuing program wins rather than returning cash to shareholders.
When does KRMN report earnings?
Karman Holdings reports earnings on a quarterly cadence, typical for US-listed equities.
Given the company's Strong Growth pillar rating, recent results appear to reflect expanding program activity across defense and space markets. However, the Weak Quality and Risk pillar ratings suggest that top-line momentum has not yet translated into consistently strong underlying financial health.
For the most recent quarter's results and guidance, visit Karman Holdings' investor relations page directly.
KRMN Price History
+160.1% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Karman Holdings Inc.?
Based on Karman Holdings Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
KRMN Long-term Outlook
KRMN's Strong Growth pillar points to meaningful near-term revenue expansion, driven by secular tailwinds in hypersonics, missile defense, and commercial space launch. However, the Weak Risk pillar introduces uncertainty around execution, leverage, or program concentration. The Elevated Valuation pillar suggests limited margin for error — sustained delivery on growth targets would be necessary to justify the current market pricing.
Growth drivers
- Rising government and commercial demand for hypersonic and missile defense hardware
- Expansion of commercial space launch programs requiring flight-qualified components
- Increasing complexity of space missions driving demand for integrated sub-assemblies
Key risks
- Weak Risk pillar signals potential vulnerabilities in financial structure or program concentration
- Elevated Valuation leaves little room for execution shortfalls or contract delays
- Weak Moat rating suggests limited pricing power relative to entrenched defense primes
KRMN vs Peers
Karman Holdings competes in a broad aerospace and defense ecosystem alongside companies ranging from satellite operators to diversified defense manufacturers.
Planet Labs focuses on satellite imaging and geospatial data services, operating on the demand side of space infrastructure rather than manufacturing flight hardware.
Embraer is a large-scale aircraft and defense platform manufacturer with a diversified commercial aviation business, giving it a broader revenue base than Karman's niche hardware focus.
Leonardo DRS supplies advanced defense electronics and sensing systems, competing in defense program budgets but with a different technology and product profile than Karman's structural and propulsion hardware.
Frequently Asked Questions
What does Karman Holdings do?
Karman Holdings, through its subsidiary Karman Space and Defense, designs, manufactures, and sells mission-critical flight hardware for missile defense, hypersonic vehicles, space launch programs, and related markets. Its products include metallic and composite structural components, payload protection systems, and propulsion solutions.
Does KRMN pay dividends?
No, Karman Holdings does not currently pay a dividend. The company is focused on growth within the defense and space hardware sector, and its capital allocation appears oriented toward operational scaling rather than shareholder distributions.
When does KRMN report earnings?
Karman Holdings follows a standard quarterly reporting cadence for US-listed companies. For the most current earnings schedule and recent results, check the company's official investor relations page.
Is KRMN a good stock to buy?
UQS Score rates KRMN as Below Average overall. While the Growth pillar is Strong, the Quality, Moat, and Risk pillars all rate Weak, and Valuation is Elevated. That combination warrants careful consideration. The full pillar breakdown is available to Pro members on UQS Score.
Is KRMN overvalued?
KRMN's Valuation pillar rates Elevated, indicating the stock may be priced above what underlying fundamentals alone would support. This does not mean the valuation cannot be sustained, but it does suggest the market is pricing in continued strong execution on growth.
How does KRMN compare to its competitors?
Karman operates in a specialized niche — flight hardware for hypersonics, missiles, and space launch — which distinguishes it from broader defense electronics firms like Leonardo DRS or commercial aviation manufacturers like Embraer. Planet Labs operates on the data services side of space rather than hardware manufacturing.
What is KRMN's market cap bracket?
Karman Holdings is classified as a large-cap company based on current market capitalization. This places it among the larger publicly traded names in the defense and space hardware segment, though it remains more specialized than diversified defense primes.
Who founded Karman Holdings?
Karman Holdings was incorporated in 2020 and operates as a subsidiary of TCFIII Spaceco SPV LP. Detailed founding history and leadership background are available through the company's public filings and investor relations materials.
Is KRMN a long-term quality investment?
From a long-term quality perspective, KRMN's Weak ratings across Quality, Moat, and Risk pillars raise questions about business durability and competitive defensibility. The Strong Growth pillar reflects near-term opportunity, but sustained long-term quality typically requires stronger moat and financial stability characteristics.
What is the main competitive advantage of Karman Holdings?
Karman's positioning in highly regulated, technically demanding markets — hypersonics, missile defense, and space launch — creates some natural barriers through program qualification requirements and customer relationships. However, the UQS Moat pillar currently rates Weak, suggesting these advantages may not yet be deeply entrenched.
What sector does KRMN belong to?
Karman Holdings is classified in the Industrials sector, specifically within the aerospace and defense sub-segment. Its focus on flight hardware for government and commercial space programs places it at the intersection of defense procurement and the commercial space economy.
Is KRMN a growth stock or value stock?
Based on its UQS pillar profile, KRMN leans toward the growth category — its Growth pillar rates Strong while its Valuation pillar rates Elevated, a combination more typical of growth-oriented names than value plays. Investors should weigh whether that growth trajectory justifies the current pricing.
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Pro Analysis
KRMN — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 23, 2026 | 44.5 | 36.9 | 23.0 | 100.0 | 24.6 | 39.1 | -0.2 |
| May 10, 2026 | 44.7 | 20.6 | 23.0 | 100.0 | 38.0 | 54.2 | +0.7 |
| May 9, 2026 | 44.0 | 29.2 | 23.0 | 100.0 | 33.0 | 39.7 | -0.7 |
| May 8, 2026 | 44.7 | 20.6 | 23.0 | 100.0 | 38.0 | 54.2 | +0.8 |
| May 7, 2026 | 43.9 | 29.2 | 23.0 | 100.0 | 33.0 | 39.5 | 0.0 |
| May 3, 2026 | 43.9 | 29.2 | 23.0 | 100.0 | 33.0 | 39.3 | +0.1 |
| Apr 26, 2026 | 43.8 | 29.2 | 23.0 | 100.0 | 33.0 | 38.9 | +0.1 |
| Apr 22, 2026 | 43.7 | 29.2 | 23.0 | 100.0 | 33.0 | 38.0 | +0.1 |
| Apr 21, 2026 | 43.6 | 29.2 | 23.0 | 100.0 | 33.0 | 37.5 | -0.1 |
| Apr 19, 2026 | 43.7 | 29.2 | 23.0 | 100.0 | 33.0 | 38.0 | -0.4 |
KRMN — Pillar Breakdown
Quality
— 36.9/100 (25%)Karman Holdings Inc. has average quality metrics, with room for improvement in margins or capital efficiency.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 100.0/100 (20%)Karman Holdings Inc. is growing rapidly with strong revenue and earnings expansion.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 24.6/100 (15%)Karman Holdings Inc. presents elevated risk with concerns around leverage or financial stability.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 39.1/100 (15%)Karman Holdings Inc. has a mixed valuation — some metrics suggest fair value while others appear stretched.
Inverse of forward P/E — higher yield means cheaper stock.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 23/100 (25%)Karman Holdings Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for KRMN.
Score Composition
Financial Data
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How is the KRMN UQS Score Calculated?
The UQS (Unified Quality Score) for Karman Holdings Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Karman Holdings Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Karman Holdings Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.