Kratos Defense & Security Solutions (KTOS)
Builds unmanned aircraft, propulsion, space communications, and mission systems for defense customers.
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Builds jet-powered target and tactical drones alongside satellite ground systems, microwave electronics, propulsion, hypersonic and rocket systems, C5ISR, mobile operations centers, and military training tools. Product sales and contract services flow primarily through U.S. government programs, with smaller international and commercial business.
Builds jet-powered target and tactical drones, small jet engines and rocket motors, hypersonic and missile-defense systems, microwave electronics, satellite communications and virtualized ground software, C5ISR and mobile operations centers, and training systems. Operations are organized into Kratos Government Solutions and Unmanned Systems.
Pairs internally funded development with customer programs to retain intellectual property and move systems from demonstration into production. Work is concentrated in the United States, with smaller international government and commercial sales.
Depends primarily on U.S. government contracts, defense appropriations, security clearances, and compliance with procurement, cost-accounting, export-control, aviation, communications, and classified-program rules. Most revenue comes from U.S. government work performed as a prime contractor or subcontractor.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 14, 2026 | Guggenheim | Initiate | Rating: —Target: — | Target: $74 |
| Aug 13, 2026 | Truist Financial | Target | Target: $135 | Target: $104 |
| Aug 6, 2026 | BTIG | Reiterate | Rating: —Target: $100 | Target: $104 |
| Aug 6, 2026 | Stifel Nicolaus | Target | Target: $134 | Target: $115 |
| Aug 5, 2026 | Canaccord Genuity | Target | Target: $130 | Target: $135 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 28, 2026Cash & short-term investments $1.44B · Total debt $193.6M · Total assets $4.09B · Shareholders' equity $3.43B
- Revenue
- $458.8M
- Operating income
- −$1.6M
- Net income
- $4.4M
No dividends on record.
| Institutions | 82.21% | 154.33M shares | |
|---|---|---|---|
| 674 holders · as of Jun 30, 2026 | |||
| Insiders | 1.17% | 2.20M shares | |
| 17 holders · as of Sep 17, 2026 | |||
| Other | 16.62% | 31.19M shares | |
| remainder | |||
187.72M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 12.80% | 24.04M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.83% | 9.06M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.50% | 8.45M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 4.25% | 7.99M | as of Jun 30, 2026 |
First Trust Advisors LPInstitution | 3.20% | 6.02M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 15, 2026 | Marie Mendoza | officer: SVP & General Counsel | −1,000 | $48.50 |
| Sep 15, 2026 | Phillip D. Carrai | officer: President, STC Division | −6,500 | $47.83 |
| Aug 24, 2026 | Steven S. Fendley | officer: President, US Division | −7,000 | $56.16 |
| Aug 18, 2026 | Scot B. Jarvis | director | −10,000 | $63.50 |
| Aug 17, 2026 | Phillip D. Carrai | officer: President, STC Division | −26,500 | $63.25 |
- Boeing
Most advanced rival in attritable loyal-wingman UCAS and global CCA market.
- Northrop Grumman
USMC CCA co-awardee; Project Talon competes for USAF CCA Increment 2.
- Lockheed Martin
Primary “disruptive prime” reference; Vectis CCA and F-35 anchor the rivalry.
- L3Harris Technologies
Rival in satellite ground C2, space EW, and defense microwave electronics.
- Mercury Systems
Most direct sub-segment rival in RF/microwave and MOSA defense electronics.
- Leidos
Large defense-IT prime competing in C5ISR, space IT, and government solutions.
- General Dynamics
GDIT and GD Mission Systems contest KGS C5ISR and defense-electronics programs.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Kratos Defense & Security Solutions | $47.17 | +0.44% | $8.81B | 275.6 | 50.2 | 5.8 | +30.5% |
| Boeing | $202.92 | +2.63% | $156.27B | 85.6 | 153.2 | 1.7 | +8.0% |
| Northrop Grumman | $516.30 | +1.26% | $72.43B | 16.2 | 17.6 | 1.7 | +5.1% |
| Lockheed Martin | $528.43 | +1.17% | $120.55B | 19.3 | 16.8 | 1.6 | +10.5% |
| L3Harris Technologies | $241.90 | +0.84% | $44.67B | 24.2 | 19.6 | 1.9 | +8.4% |
| Mercury Systems | $82.95 | −1.11% | $5.04B | — | 53.8 | 5.1 | +6.1% |
| Leidos | $125.14 | +1.48% | $15.51B | 11.5 | 10.4 | 0.9 | +7.2% |
| General Dynamics | $346.40 | +0.88% | $92.91B | 20.9 | 19.8 | 1.7 | +8.1% |
| Median | 20.1 | 19.6 | 1.7 | +8.0% |