KTOSNasdaqGuided Missiles & Space Vehicles & PartsFiscal year ends December 27
KRATOS DEFENSE & SECURITY SOLUTIONS, INC.
Financials through Q2 FY2026, quarter ended Jun 28, 2026Last filing: 10-Q on Aug 4, 2026
$39.17−1.25 (-3.09%)
Close on Oct 19, 2026
- Market cap
- $7.45B
- P/E (TTM)
- 230.4
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
22.9%−4.3 pts over 5 years
Operating margin
1.9%−2.0 pts over 5 years
Net margin
1.6%−9.0 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +18.5% | +14.5% | +12.5% | +7.4% | |
| Gross profit | +7.2% | +10.9% | +8.7% | +6.6% | |
| Operating income | -11.7% | – | -2.7% | – | |
| Net income | +35.0% | – | -22.7% | +1.1% | |
| EPS, diluted | +18.2% | – | -28.0% | -9.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -22.8% | – | 1.3% | |
| Return on assets | -6.5% | 5.8% | 1.0% | |
| Current ratio | 1.90 | 3.87 | 4.06 | |
| Debt to equity | 1.56 | – | 0.00 | |
| Net debt to EBITDA | 80.29× | -1.49× | -7.71× | |
| Interest coverage | -0.5× | 1.2× | 2.7× | |
| Inventory turnover | 7.4× | – | – | |
| Capex to revenue | – | 4.8% | 7.1% | |
| Diluted shares | 61M | 119M | 165M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Kratos Defense & Security Solutions generated $218.00M from operations and spent $297.80M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$218.00M
Used
$297.80M
Capital expenditure$297.80M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin1.6%
×Asset turnover0.61×
×Equity multiplier1.32×
=Return on equity, FY20251.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 1.6% | 0.61× | 1.32× | 1.3% |
| FY2024 | 1.4% | 0.63× | 1.54× | 1.4% |
| FY2017 | -7.1% | 0.61× | 2.50× | -10.8% |
| FY2016 | -11.2% | 0.59× | 3.49× | -22.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$22.00M
- Cash generatingOperating cash flow above zero-$42.10M
- Return on assets improvedROA up on the prior year1.0% → 1.1%
- Earnings backed by cashOperating cash flow above net income-$42.10M vs $22.00M
- Less leverageLong-term debt to assets fell8.9% → 0.0%
- Better liquidityCurrent ratio rose2.94 → 4.06
- No dilutionShare count did not rise151M → 165M
- Gross margin improvedGross margin up on the prior year25.28% → 22.86%
- More efficientAsset turnover rose0.70 → 0.69