Company Profile · Industrials

Karman Holdings Inc.

KRMN · US
Industry
Aerospace & Defense
Exchange
US
Country
USA
IPO date
Feb 13, 2025
Employees
1,400
Website
karman-sd.com
Current Price
$50.37
Live · Jun 18, 2026
Fair Buy
≤ $14
Margin-of-safety entry
Baillie Growth Score
39/100
Weak
Intrinsic Value · Three-Tier Range Current price $50.37 Live · Above the optimistic ceiling · future growth overdrawn

Composite valuation range · conservative $7–$12 / fair $13–$20 / optimistic $25–$33. At $50.37, Above the optimistic ceiling · future growth overdrawn.

At publication $51.84 (Jun 4, 2026)

Research on this stock
Karman Holdings, Inc.
KRMN · US
Watch
Karman Holdings: A Long-Term Owner's Perspective

Karman Holdings sits in high-quality defense and space niches with deep customer embedding, but its current financial profile is still uneven. The core thesis is that this may become a good mission-critical aerospace and defense platform, yet 2025 operating cash flow turned negative, leverage is high, tangible book value is negative, and the current price of USD 51.84 is far above a reasonable intrinsic value range of USD 13-20. Research rating Watch: an emerging good business, but at a bad price.

Aerospace & Defense Baillie 39 Jun 4, 2026
About the company

Karman Holdings Inc., through its subsidiary, engages in designing, testing, manufacturing, and sale of mission-critical systems in the United States. The company offers payload protection and deployment systems, aerodynamic interstage systems, and propulsion systems. It serves its products to hypersonics and strategic missile defense, tactical missile and integrated defense systems, and space and launch markets. The company was incorporated in 2020 and is headquartered in Huntington Beach, California. Karman Holdings Inc. operates as a subsidiary of TCFIII Spaceco SPV LP.

Financial snapshot
Market cap$6.68B
Revenue (TTM)$522.59M
EBITDA$136.35M
Profit margin5.73%
ROE7.94%
P/E (TTM)219
Forward P/E99.01
EPS$0.23
52-week range$43.49 – $118.38
Analyst target$105.60
Analyst rating4.8 / 5

Data from EODHD, shown in the reporting currency; for reference only, not investment advice.

Background

History

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Industry position

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