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Kratos Defense & Security Solutions, Inc. KTOS

Industrials — Aerospace & Defense

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Insider Decisions

Total sells
135.42
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell 4 7 11 10 8 10 8 9 7 5 7 2
Insider Ownership
1.72%

Capital & Financial Ratios

Market Cap
9,040.00
Revenue
1,522.50
Net Income
30.90
Free Cash Flow
(128.90)
Net Debt
(1,302.80)
Current Ratio
5.54
Debt/Equity
0.04
P/E ratio
279.18
P/S ratio
5.88
P/B ratio
2.61
Past 5Y EPS Growth
(1.16%)
This Y EPS Growth
51.33%
Next Y EPS Growth
33.53%
Next 5Y EPS Growth
37.49%
in millions of $

Dividends

Payout Ratio
0.00
Annual Dividend Rate
—
Annual Dividend Yield
—
total individual payouts
2025 ‡‡‡
2024 ‡‡‡
2023 ‡‡‡
2022 ‡‡‡
2021 ‡‡‡
2020 ‡‡‡
2019 ‡‡‡
2017 ‡‡‡
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 72.80 329.30 560.60 1,437.60
Receivables 329.20 323.80 457.40 576.70
Inventory 156.20 162.10 188.20 235.90
Other 20.00 38.90 43.80 82.20
594.20 872.10 1,262.90 2,356.50
2023 2024 2025 Q'26
Payables 63.10 82.00 69.60 104.80
ST’ Debt — — — —
Other 115.90 90.80 82.40 113.50
292.50 296.70 311.00 425.30
in millions of $

Compound Annual Growth

10y 5y 3y
Sales ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Cash Flow ‡‡‡ ‡‡‡ ‡‡‡
Earnings ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡
Book Value ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡

Revenue

Mar Jun Sep Dec Year
’26 371.00 458.80 — —
—
’25 302.60 351.50 347.60 345.10
1,346.80
’24 277.20 300.10 275.90 283.10
1,136.30
’23 231.80 256.90 274.60 273.80
1,037.10
’22 196.20 224.20 228.60 249.30
898.30
’21 194.20 205.10 200.60 211.60
811.50
’20 168.90 170.40 202.00 206.40
747.70
in millions of $

Operating Cash Flow

Mar Jun Sep Dec Year
’26 (27.40) (11.00) — —
—
’25 (29.20) (11.70) (13.30) 12.10
(42.10)
’24 0.70 (2.70) 6.10 45.60
49.70
’23 (25.70) 23.50 0.00 67.40
65.20
’22 (7.90) (21.60) (2.80) 6.60
(25.70)
’21 22.70 (0.70) 12.60 0.70
35.30
’20 4.00 6.80 8.30 25.60
44.70
in millions of $

Free Cash Flow

Mar Jun Sep Dec Year
’26 (47.30) (28.20) — —
—
’25 (51.80) (32.20) (41.30) (12.10)
(137.40)
’24 (15.90) (15.40) (9.20) 32.00
(8.50)
’23 (33.40) 12.30 (14.20) 48.10
12.80
’22 (18.70) (32.70) (15.70) (4.00)
(71.10)
’21 13.10 (11.60) (0.30) (12.40)
(11.20)
’20 (2.40) (0.90) (0.60) 12.70
8.80
in millions of $

EPS

Mar Jun Sep Dec Year
’26 0.07 0.02 — —
—
’25 0.03 0.02 0.05 0.03
0.13
’24 0.01 0.05 0.02 0.03
0.11
’23 (0.05) (0.02) (0.01) 0.02
(0.07)
’22 (0.12) (0.04) (0.06) (0.07)
(0.29)
’21 0.01 0.01 (0.02) (0.02)
(0.02)
’20 0.00 (0.01) 0.02 0.62
0.67

Target Price Range

High
‡‡‡‡‡
‡‡‡‡‡
Average
‡‡‡‡‡
‡‡‡‡‡
Low
‡‡‡‡‡
‡‡‡‡

Recommendation Rating

1.2
1
Buy
2
3
Hold
4
5
Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
‡‡‡ ‡‡‡‡ ‡‡‡ ‡‡‡‡ ‡‡‡ ‡‡‡‡‡ 8.90 9.87 16.71 23.90 — — —
Low Price
‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 22.26 21.42 28.71 112.57 — — —
High Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 3,600 3,900 4,000 4,300 — — —
Employees
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.25 0.27 0.28 0.31 — — —
Revenue/Emp
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 898.30 1,037.10 1,136.30 1,346.80 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 25.16% 25.90% 25.28% 22.86% — — —
Gross Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (33.00) 11.10 26.50 34.00 ‡‡‡‡‡ — —
EBT
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (3.67%) 1.07% 2.33% 2.52% ‡‡‡ ‡‡‡ ‡‡‡
EBT Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (33.20) 2.40 16.30 22.00 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Net Income
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 41.70 45.40 52.60 59.80 — — —
Depreciation
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 7.09 7.95 7.63 8.28 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ (0.29) (0.07) 0.11 0.14 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Earnings/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (0.20) 0.50 0.33 (0.26) ‡‡‡‡ — —
Cash Flow/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (0.36) (0.40) (0.39) (0.59) ‡‡‡ ‡‡‡ ‡‡‡
Capex/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (0.56) 0.10 (0.06) (0.84) — — —
Free CF/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 7.39 7.48 9.08 12.27 ‡‡‡‡‡ — —
Book Value/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 126.70 130.40 149.00 162.70 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Shares
‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡ 0.00 0.00 239.82 583.92 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡
PE Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.41 2.48 3.46 9.17 ‡‡‡ ‡‡‡ ‡‡‡
PS Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.36 2.64 2.90 6.19 ‡‡‡ ‡‡‡ ‡‡‡
PB Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.62 2.69 3.39 8.84 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
EV/Sales
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (20.43) 217.82 (453.45) (86.61) — — —
EV/FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (25.70) 65.20 49.70 (42.10) ‡‡‡ ‡‡‡ ‡‡‡
Op' Cash Flow
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (45.40) (52.40) (58.20) (95.30) ‡‡‡‡‡ — —
Capex
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (71.10) 12.80 (8.50) (137.40) ‡‡‡‡‡ — —
FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 348.40 301.70 575.40 951.90 — — —
Working Cap'
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 263.20 270.20 239.00 95.80 — — —
Total Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 181.90 197.40 (90.30) (464.80) — — —
Net Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 936.30 976.00 1,353.20 1,996.30 — — —
Sh' Equity
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (2.35%) (0.56%) 0.91% 1.00% ‡‡‡‡‡ — —
ROA
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (0.16%) 1.66% 1.44% 1.04% — — —
ROIC
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (3.92%) (0.93%) 1.40% 1.31% ‡‡‡‡‡ — —
ROE
predictions in italic, sparklines do not include predictions

Analyst Commentary (Summary)

Kratos Defense & Security Solutions (KTOS) has transformed into a revenue juggernaut, with sales surging 92% from $542 million in 2016 to $1.136 billion in 2024, propelled by demand for unmanned systems, hypersonics, and C5ISR amid U.S. defense budgets ballooning from $606 billion to over $850 billion and conflicts like Ukraine accelerating drone spending. Projections signal explosive growth: +17% to $1.329 billion in 2025, +20% in 2026, and +22% in 2027, with revenue per employee up 52% to $284,000 and gross margins steady at 25-27%, underscoring scalable efficiency in high-tech niches.

Profitability is rebounding sharply—net income from losses to $16.3 million in 2024, forecasted to triple to $102.4 million by 2027 (EPS $0.11 to $0.60), ROE climbing to 7.8%, and a pristine balance sheet with net cash of $90 million after slashing debt 45%. Stock has rocketed over 200% from 2024 lows on sector hype, trading at a 3.46 PS ratio, but capex drags free cash flow and share dilution (149 million shares) tempers per-share gains.

Insider net selling ($105 million vs. $0.5 million buys) flags caution amid frothy valuations, yet analysts project 18% revenue CAGR and 35% mean upside, hinging on margin expansion and contract wins. Risks like execution and geopolitics loom, making KTOS a high-conviction growth play worth dissecting further.

Read full commentary →

Kratos Defense & Security Solutions, Inc. (KTOS) Latest News

News by impact score

Fine-tune

17 Sep

4 , 1:14 AM
Kratos Defense & Security Solutions achieved success in its latest missile test, prompting questions on whether KTOS stock remains undervalued. Missile test success directly boosts Kratos core defense offerings and investor perception.

3 , 9:18 AM
Kratos Defense & Security Solutions is expanding manufacturing capacity to enable affordable defense growth amid rising demand for its unmanned systems and related products. Manufacturing expansion may improve production scale and cost structure but its ultimate effect on financial trajectory remains uncertain.

3 , 9:11 AM
AeroVironment is expanding into a broader defense technology platform, with potential effects on competitors including Kratos Defense & Security Solutions in drone and unmanned systems markets. Discussion of AeroVironment expansion indicates moderate competitive pressure on KTOS positioning without direct company-specific events.

11 Sep

3 , 9:57 AM
Project Anaconda has potential to increase Kratos Defense & Security Solutions' participation in naval radar projects. Potential expansion in naval radar via Project Anaconda may moderately affect Kratos' operations and positioning.

9 Sep

3 , 9:00 AM
Kratos Defense & Security Solutions' ARAV-B ballistic missile target was successfully utilized in the multinational Pacific Dragon 2026 exercise. Successful exercise use validates ARAV-B system and supports potential future defense contracts.

3 Sep

3 , 8:21 AM
KTOS stock drops 37% year-to-date as questions arise whether new defense awards can drive recovery. New defense awards may moderately affect KTOS operations and sentiment but face limits from broader stock decline.

1 Sep

3 , 9:00 AM
Kratos Defense & Security Solutions, Inc. secures $20 million contract to deliver mobile SATCOM gateways for resilient defense network. $20 million contract provides moderate revenue and defense positioning boost without altering core trajectory.

31 Aug

4 , 5:06 PM
Kratos Defense & Security Solutions secures MUX TACAIR win with Northrop Grumman, establishing a partnership that could transform Northrop's tactical air capabilities. MUX TACAIR contract win expands Kratos defense partnerships and growth trajectory.

3 , 7:00 AM
Kratos Defense & Security Solutions, Inc. secured a $35 million award to produce military-grade hardware for a national security program. $35 million production contract boosts near-term revenue backlog for Kratos without altering core competitive position or long-term trajectory.

28 Aug

4 , 6:13 PM
Kratos Defense & Security Solutions (KTOS) may outperform GE Aerospace (GE) as next-generation defense spending accelerates. Accelerating next-generation defense spending directly supports KTOS growth trajectory and potential outperformance versus GE.

24 Aug

3 , 7:00 AM
Kratos Defense & Security Solutions will supply Spartan J85 Engines to support Boeing's JDAM LR production contract. Engine supply contract adds revenue and strengthens Kratos defense positioning without altering company trajectory.

21 Aug

3 , 9:52 AM
Kratos Defense & Security Solutions, Inc. (KTOS) faces questions on entering scale-up phase of defense modernization with potential expansion in advanced contracts and technologies. Speculation around KTOS scale-up in defense modernization points to possible moderate effects on operations and market positioning.

19 Aug

4 , 8:00 AM
Kratos Defense & Security Solutions secured multi-million-dollar orders for GAIA 100 Tri-Band Ground Station Systems via its newly acquired Orbit unit. Multi-million-dollar orders secured through Orbit acquisition strengthen Kratos revenue and expand ground station capabilities in core defense markets.

18 Aug

3 , 7:00 AM
USMC Valkyrie demonstrated beyond-line-of-sight command and control in flight at a U.S. Navy test range. Valkyrie test success signals potential defense contract gains for KTOS.

17 Aug

4 investorshub.advfn.com, 9:48 AM
Kratos and GE Aerospace secured a U.S. Air Force contract for JASSM engine development. Contract win directly expands Kratos defense revenue pipeline and strategic positioning.

4 , 7:00 AM
Kratos and GE Aerospace received U.S. Military Type Designation F143-ZZ-100 for the GEK800 engine plus an EMD contract award for JASSM. Military designation and EMD contract award expand KTOS defense propulsion opportunities and revenue potential.

15 Aug

4 , 9:04 AM
Kratos divested a $200 million business unit to enable a Boeing-Archer partnership, executing the move deliberately despite the size of the asset. Divestiture of a $200 million unit directly reduces Kratos revenue base and shifts its strategic focus.

14 Aug

4 , 1:11 PM
Kratos raised its 2026 outlook and secured new missile defense work, driving a 9.4% stock increase. Raising 2026 outlook and winning new missile defense contracts signals expanded revenue and stronger long-term growth for Kratos.

4 , 11:36 AM
Kratos Defense & Security Solutions holds a $15 billion opportunity pipeline that could sustain its growth momentum. A $15 billion opportunity pipeline represents major strategic positioning likely to drive significant revenue growth and alter market trajectory.

4 , 11:13 AM
New US tariffs boost Trump family-tied dronemakers including Kratos Defense & Security Solutions by shielding domestic production from foreign competition and lifting market prospects. Tariffs directly strengthen KTOS competitive edge and revenue potential by limiting imports in the drone sector.

3 , 10:13 AM
Kratos' HASTE hypersonic program may open doors for Rocket Lab in the expanding hypersonic sector, potentially shifting competitive dynamics for KTOS in defense and aerospace markets. HASTE-related developments could moderately influence KTOS competitive positioning in hypersonics without fundamentally redefining company trajectory.

12 Aug

3 , 9:57 PM
Kratos Defense & Security Solutions held its Q2 earnings call where analysts asked five key questions covering contract momentum in unmanned systems, margin trends, cash flow outlook, competitive positioning against larger defense primes, and guidance assumptions for the second half. Q2 earnings call questions surface operational details and guidance that can move near-term sentiment but are unlikely to alter the company's long-term trajectory.

3 , 9:35 AM
Kratos Defense & Security Solutions exhibits strong fundamentals supporting long-term upside potential. Strong fundamentals outlook suggests moderate effects on future performance and market perception.

11 Aug

3 transcript www.fool.com, 8:00 PM
Kratos Defense & Security Solutions reported Q2 2026 results during its earnings call, highlighting revenue, contract wins, and defense segment performance with forward guidance. Earnings releases and guidance updates typically drive moderate short-term price movement and sentiment without altering long-term fundamentals.

3 , 7:20 PM
Kratos Defense & Security Solutions (KTOS) secured a Javelin Seeker contract following its role in a Japan missile test. Javelin Seeker contract win adds targeted revenue in missile systems without altering overall company trajectory.

7 Aug

4 , 10:00 AM
KTOS Q2 earnings call highlighted advancements in hypersonics and engine production ramp-up. Hypersonics focus and engine ramp-up point to major defense contract and revenue growth potential.

6 Aug

4 , 8:00 AM
Kratos Defense & Security Solutions, Inc. has been awarded a U.S. Army contract to develop a next-generation seeker for the Javelin Missile System. Contract win strengthens KTOS position in missile seeker technology with potential for follow-on revenue and expanded defense programs.

5 Aug

4 stocktwits.com, 3:51 PM
KTOS stock reaches two-month high after Piper Sandler upgrades ratings citing clear growth prospects. Ratings upgrade and two-month high directly boost investor sentiment and alter KTOS trajectory.

3 www.fool.com, 1:02 PM
Kratos Defense & Security Solutions stock rose after the company released its earnings report. Earnings beat drove immediate stock gains but reflects routine quarterly results.

3 , 12:09 PM
Kratos Defense stock rallies above key level after analyst upgrade, Q2 earnings beat and comfortable outlook. Analyst upgrade and Q2 beat trigger stock rally with moderate effect on near-term performance.
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