# KARMAN HOLDINGS INC. (KRMN) · Edgar & Edgarette company card

> Karman Holdings (KRMN) grew revenue 36.6% in FY2025 to $472 million, operating margin 15.5% against a 8.9% median for aircraft parts & auxiliary equipment, equity 34.7% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 2040127 · fiscal year ended 2025-12-31 · 4 audited years read · [page](https://www.pops4.com/boards/company/KRMN) · [JSON](https://www.pops4.com/boards/company/KRMN.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $472M |
| Revenue growth, 1 year | 36.6% |
| Revenue growth per year | 27.7% |
| Operating margin | 15.5% (prior year 18.4%) |
| Net margin | 3.7% |
| Operating cash flow | −$22M |
| Capital spending | $20M |
| Free cash flow | −$42M |
| Cash | $34M |
| Long-term debt | — |
| Total assets | $1.1B |
| Total equity | $383M |
| Equity ÷ assets | 34.7% |
| Return on equity | 4.5% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: 2.23 (grey zone)
- Piotroski F: 5 of 9 (middling)
- Health Harbor boat: Weathered boat · two warning signs · filed late annual report notice, auditor change in the last 12 months; operating cash flow was negative
- Cash Compass: Fast, cash not yet · growing fast, but little cash arriving so far

## Edgarette's reading

Exposure: revenue $471.5M (FY2025). Experience: revenue up 36.6% on the year, up 27.7% a year over 3 years; operating margin 15.5%, down from 18.4%. Soundness: equity 34.7% of assets, return on equity 4.5%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $529.2M and $704.6M next year (method v4.1: its own 3-year record of growth weighed at 40% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $492.2M to $759.7M. A statistical range, not company guidance. Against peers (17 filers, $50M+ revenue, its industry group): operating margin 15.5% against a 8.9% median; growth 36.6% against 9.7%.

Range logged 2026-09-27, receipt 3cb099fc894a3617, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item NT 10-K Late annual report notice: 1, latest 2026-04-01 ([filing](https://www.sec.gov/Archives/edgar/data/2040127/000204012726000010/0002040127-26-000010-index.htm))
- Item 4.01 Auditor change: 1, latest 2026-06-11 ([filing](https://www.sec.gov/Archives/edgar/data/2040127/000119312526267832/0001193125-26-267832-index.htm))
- Item 5.02 Director or officer change: 2, latest 2026-08-27 ([filing](https://www.sec.gov/Archives/edgar/data/2040127/000119312526369561/0001193125-26-369561-index.htm))

## Recent filings

- 8-K · filed 2026-09-16 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/2040127/000119312526392480/0001193125-26-392480-index.htm)
- 8-K · filed 2026-08-28 · 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation; 7.01 Regulation FD Disclosure; 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/2040127/000119312526374378/0001193125-26-374378-index.htm)
- 8-K · filed 2026-08-27 · 5.02 Departure or Election of Directors; Appointment of Officers; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/2040127/000119312526369561/0001193125-26-369561-index.htm)
- 10-Q · filed 2026-08-11 · [filing](https://www.sec.gov/Archives/edgar/data/2040127/000204012726000024/0002040127-26-000024-index.htm)
- 8-K · filed 2026-08-06 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/2040127/000204012726000018/0002040127-26-000018-index.htm)
- 8-K · filed 2026-08-06 · 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/2040127/000119312526336486/0001193125-26-336486-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0002040127.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=2040127

## Cite

POPS4, Edgar & Edgarette: KARMAN HOLDINGS INC. (KRMN) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/KRMN. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.