KRMNKarman Holdings Inc.
Aircraft Parts & Auxiliary Equipment, NEC
- Revenue
- $472M
- 37% YoY
- Operating margin
- 15.5%
- 16% YoY
- EBITDA
- $116M
- 20% YoY
- Market cap
- $5.3B
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- 0.7
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 2 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashYes-127% of net incomeCash flow under 80% of net income
- Dilutive SBCNo0% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo34% of assetsOver 40% of assets
- Shareholder dissentYes79% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo0.7 per 10K words · 27th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$5.3B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$40M netNet sales over $10M in 12 months
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|
| Revenue | $226M | $281M | $345M | $472M | 37% |
| Operating income | $20M | $48M | $64M | $73M | 15% |
| Net income | −$14M | $4M | $13M | $17M | 37% |
| Operating cash flow | −$6M | $20M | $27M | −$22M | 183% |
| Capex | $21M | $17M | $15M | $20M | 33% |
| Stock-based comp | $2M | $1M | $993K | $1M | 42% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $1M · 3
- Open-market sells, 12 mo
- $41M · 8
- Net
- −$40M
Pay vs performance
No pay-versus-performance disclosure yet.