Karman (KRMN)
Integrates protection, interstage, propulsion, and maritime systems for defense and space programs.
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Supplies integrated protection, interstage, propulsion, and maritime composite systems for U.S. missile, defense, and space programs. A single reportable segment combines design, specialized fabrication, assembly, qualification, and testing, while demand depends on government and prime-contractor programs.
Designs and manufactures Payload Protection and Deployment Systems, Aerodynamic Interstage Systems, and Propulsion Systems for missile, hypersonic, defense, and space programs. A maritime portfolio adds composite materials, sonar and acoustic treatments, and subsea and surface propulsion.
Combines in-house design and analysis with metallic and composite fabrication, system assembly, qualification, and testing. The acquisition-built platform integrates specialist facilities and technologies into a concept-to-production supplier, with sales centered on U.S. government and prime-contractor programs.
Demand depends on government program priorities, long development-to-production cycles, and customers continuing to outsource integrated systems. Operations also depend on retaining certifications, program qualifications, and technical teams as acquired businesses are integrated.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 14, 2026 | Guggenheim | Initiate | Rating: —Target: — | Target: $63 |
| Aug 13, 2026 | Truist Financial | Target | Target: $118 | Target: $85 |
| Aug 7, 2026 | Needham | Reiterate | Rating: —Target: — | Target: $80 |
| Jul 24, 2026 | RBC Capital | Reiterate | Rating: —Target: $100 | Target: $85 |
| Jun 2, 2026 | RBC Capital | Target | Target: $125 | Target: $100 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $51.7M · Total debt $875.3M · Total assets $1.44B · Shareholders' equity $421.1M
- Revenue
- $182.1M
- Operating income
- $34.8M
- Net income
- $14.0M
No dividends on record.
| Institutions | ≈ 90.66% | 120.15M shares | |
|---|---|---|---|
| 383 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 1.87% | 2.48M shares | |
| 12 holders · as of Sep 18, 2026 | |||
| Other | ≈ 7.47% | 9.90M shares | |
| remainder | |||
132.53M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
FMR LLCInstitution | 5.18% | 6.87M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 4.11% | 5.45M | as of Jun 30, 2026 |
State Street CorpInstitution | 3.85% | 5.10M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 3.62% | 4.80M | as of Jun 30, 2026 |
First Trust Advisors LPInstitution | 3.58% | 4.74M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 16, 2026 | Mary D. Petryszyn | director | +500 | $37.44 |
| Sep 16, 2026 | David Stinnett | director | +27,000 | $37.32 |
| Sep 16, 2026 | Stephen Twitty | director | +275 | $36.79 |
| Dec 12, 2025 | Anthony Koblinski | director, officer: Chief Executive Officer | −75,000 | $69.31 |
| Dec 5, 2025 | Anthony Koblinski | director, officer: Chief Executive Officer | −75,000 | $66.51 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Karman | $33.52 | +0.06% | $4.44B | 117.6 | 44.3 | 7.5 | +58.2% |
| Northrop Grumman | $516.46 | +1.29% | $72.43B | 16.2 | 17.6 | 1.7 | +5.1% |
| L3Harris Technologies | $242.06 | +0.90% | $44.67B | 24.2 | 19.6 | 1.9 | +8.4% |
| Kratos Defense & Security Solutions | $47.17 | +0.43% | $8.81B | 275.6 | 50.2 | 5.8 | +30.5% |
| Rocket Lab | $71.50 | −0.67% | $41.67B | — | — | 54.2 | +62.0% |
| Ducommun | $167.60 | +0.69% | $2.51B | — | 34.3 | 2.9 | +11.0% |
| Redwire | $11.49 | −2.34% | $2.81B | — | — | 6.6 | +89.6% |
| Hexcel | $87.35 | +1.59% | $6.50B | 43.2 | 33.2 | 3.3 | +8.0% |
| Median | 33.7 | 33.2 | 3.3 | +11.0% |