Wednesday 14 October 2026 Export KTOS’s income statement to Excel — free account

Kratos Defense & Security Solutions, Inc.

Kratos Defense & Security Solutions, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.3 billion, up 18.5% from fiscal 2024. In the quarter to June 2026, revenue grew 30.5%, EPS was flat, free cash flow grew 12.4% and total debt fell 42.2%, each against the same quarter a year earlier. Revenue growth for five consecutive years.

39.96 0.39 −0.97%

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Market cap: $7.6B
P/E: 237×
Fwd P/E: 313×
Dividend yield: —
F-score: 4/9
Altman Z: 16.42
Beneish M: −1.87
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 133.99

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	7	11	10	8	10	8	9	7	5	7	3	—

Insider Ownership 1.73%

Capital & Financial Ratios $m

Market Cap 7,570.00

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 237.35

Fwd P/E 313.00

P/S ratio 5.00

P/B ratio 2.22

Past 5Y EPS Growth (27.96%)

This Y EPS Growth 52.18%

Next Y EPS Growth 34.52%

Next Y revenue growth 33.35%

Next 5Y EPS Growth 38.20%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 48.80%

10-year low 10-year high

P/S against its own 10 years 87.12%

10-year low 10-year high

P/B against its own 10 years 33.99%

10-year low 10-year high

EV/Sales against its own 10 years 82.21%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	73	329	561	1,438
Receivables	329	324	457	577
Inventory	156	162	188	236
Other	20	39	44	82
	594	872	1,263	2,357

	2023	2024	2025	Q'26
Payables	63	82	70	105
ST’ Debt	—	—	—	—
Other	116	91	82	114
	293	297	311	425

Compound Annual Growth %

	10y	5y	3y
Sales	7.44%	12.49%	14.45%
Cash Flow	0.00%	0.00%	0.00%
Earnings	1.06%	(22.68%)	0.00%
Book Value	22.89%	16.62%	28.71%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	371	459	—	—	—
’25	303	352	348	345	1,347
’24	277	300	276	283	1,136
’23	232	257	275	274	1,037
’22	196	224	229	249	898
’21	194	205	201	212	812
’20	169	170	202	206	748

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(27)	(11)	—	—	—
’25	(29)	(12)	(13)	12	(42)
’24	1	(3)	6	46	50
’23	(26)	24	0	67	65
’22	(8)	(22)	(3)	7	(26)
’21	23	(1)	13	1	35
’20	4	7	8	26	45

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(47)	(28)	—	—	—
’25	(52)	(32)	(41)	(12)	(137)
’24	(16)	(15)	(9)	32	(8)
’23	(33)	12	(14)	48	13
’22	(19)	(33)	(16)	(4)	(71)
’21	13	(12)	0	(12)	(11)
’20	(2)	(1)	(1)	13	9

Fiscal quarters ending in the months shown.

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

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	2.80	6.83	8.90	13.00	5.00	18.83	8.90	9.87	16.71	23.90	Analyst estimates 2026–2028 Powerpack
	High	8.22	13.93	16.09	25.08	28.53	34.11	22.26	21.42	28.71	112.57
People
People	Employees	2,900	2,900	2,600	3,000	3,200	3,300	3,600	3,900	4,000	4,300
	Revenue/emp, $m	0.19	0.21	0.24	0.24	0.23	0.25	0.25	0.27	0.28	0.31
Income, $m
Income, $m	Revenue	542	603	618	718	748	812	898	1,037	1,136	1,347
	Gross margin, %	22.24	26.12	27.46	26.48	27.18	27.74	25.16	25.90	25.28	22.86
	EBT	(52)	(57)	9	16	7	4	(33)	11	27	34
	EBT margin, %	(9.56)	(9.46)	1.41	2.19	0.91	0.54	(3.67)	1.07	2.33	2.52
	Net income	(60)	(43)	(3)	13	79	(2)	(33)	2	16	22
	Depreciation	25	48	19	36	35	36	42	45	53	60
Per share, $
Per share, $	Revenue	8.84	6.74	5.95	6.77	6.47	6.51	7.09	7.95	7.63	8.28
	Earnings	(0.99)	(0.48)	(0.03)	0.12	0.69	(0.02)	(0.29)	(0.07)	0.11	0.14
	Cash flow	(0.24)	(0.30)	0.17	0.27	0.39	0.28	(0.20)	0.50	0.33	(0.26)
	Capex	(0.15)	(0.29)	(0.22)	(0.25)	(0.31)	(0.37)	(0.36)	(0.40)	(0.39)	(0.59)
	Free cash flow	(0.38)	(0.59)	(0.04)	0.02	0.08	(0.09)	(0.56)	0.10	(0.06)	(0.84)
	Book value	4.51	5.72	5.00	5.42	8.01	7.59	7.39	7.48	9.08	12.27
	Shares, m	61	90	104	106	116	125	127	130	149	163
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	150.08	42.86	0.00	0.00	0.00	239.82	583.92
	P/S	0.83	1.63	2.37	2.66	4.24	2.98	1.41	2.48	3.46	9.17
	P/B	1.63	1.92	2.82	3.33	3.42	2.56	1.36	2.64	2.90	6.19
	EV/Sales	1.50	1.90	2.55	2.83	4.13	2.92	1.60	2.68	3.38	8.83
	EV/FCF	(34.47)	(21.59)	(349.94)	781.75	350.98	(211.21)	(20.26)	216.81	(451.92)	(86.51)
Cash, $m
Cash, $m	Operating cash flow	(15)	(27)	18	29	45	35	(26)	65	50	(42)
	Capex	(9)	(26)	(23)	(26)	(36)	(46)	(45)	(52)	(58)	(95)
	Free cash flow	(24)	(53)	(4)	3	9	(11)	(71)	13	(8)	(137)
Balance, $m
Balance, $m	Working capital	177	283	330	340	567	537	348	302	575	952
	Total debt	432	294	294	295	301	297	250	270	239	96
	Net debt	362	163	111	123	(80)	(53)	169	197	(90)	(465)
	Shareholders’ equity	276	512	519	574	925	945	936	976	1,353	1,996
Returns, %
Returns, %	ROA	(6.53)	(4.33)	(0.34)	1.14	5.79	(0.13)	(2.35)	(0.56)	0.91	1.00
	ROIC	(1.76)	(1.11)	3.02	3.41	2.17	1.95	(0.16)	1.66	1.44	1.04
	ROE	(22.80)	(10.84)	(0.68)	2.29	10.62	(0.21)	(3.92)	(0.93)	1.40	1.31

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
MOG.A Moog Inc.	$11.8B	31.4×	36.7×	+15.16% (above 0%: growing)	+153.97% (above 0%: growing)	+67.52% (above 0%: growing)	31.10%	14.41%	Compare
HII Huntington Ingalls Industries, Inc.	$10.4B	15.4×	16.8×	+10.90% (above 0%: growing)	+36.53% (above 0%: growing)	−120.66% (below 0%: shrinking)	12.61%	6.76%	Compare
DRS Leonardo DRS, Inc.	$9.5B	28.8×	37.8×	+10.13% (above 0%: growing)	+65.00% (above 0%: growing)	+110.71% (above 0%: growing)	25.96%	11.17%	Compare
KTOS Kratos Defense & Security Solutions, Inc.	$7.8B	237×	313×	+30.53% (above 0%: growing)	0.00%	+12.42% (above 0%: growing)	21.82%	(0.35%)
AVAV AeroVironment, Inc.	$6.7B	— (loss-making)	172×	+5.68% (above 0%: growing)	n/m	+76.92% (above 0%: growing)	25.93%	(2.26%)	Compare
SARO StandardAero, Inc.	$6.6B	20.1×	21.8×	+4.63% (above 0%: growing)	+42.86% (above 0%: growing)	+263.74% (above 0%: growing)	16.80%	10.53%	Compare
HXL Hexcel Corporation	$6.4B	43.1×	40.7×	+8.04% (above 0%: growing)	+282.35% (above 0%: growing)	+625.00% (above 0%: growing)	26.09%	13.72%	Compare
LOAR Loar Holdings Inc.	$5.8B	85.9×	111×	+39.36% (above 0%: growing)	0.00%	+31.01% (above 0%: growing)	53.15%	24.39%	Compare
PL Planet Labs PBC	$5.8B	— (loss-making)	— (loss-making)	+58.14% (above 0%: growing)	n/m	−48.55% (below 0%: shrinking)	56.55%	(11.64%)	Compare
Median of peers	$6.6B	30.1×	37.8×	+10.52%	+53.93%	+72.22%	26.03%	10.85%

All 82 Aerospace & Defense stocks →

Kratos Defense & Security Solutions, Inc. (KTOS) key facts

Strength: Kratos Defense & Security Solutions, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.3 billion, up 18.5% from fiscal 2024.
Kratos Defense & Security Solutions, Inc. (KTOS) is an Aerospace & Defense company in the Industrials sector, listed on Nasdaq.
As of October 13, 2026, KTOS traded at $40.35, a market capitalization of $7.6 billion.
Return on equity was 1.31% and debt-to-equity 0.04.
Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 16.42 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.