Karman Holdings Inc. (KRMN) vs Moog Inc. (MOG.B)

Karman Holdings Inc. and Moog Inc. are both Aerospace & Defense companies. Karman Holdings Inc. is the larger, with a market value of $4.6B against $3.7B — 1.3× the size. Moog Inc. trades at the lower P/E: 33.0× against 123×. Karman Holdings Inc. grew revenue faster over the last twelve months: 50.2% against 15.8%. Moog Inc. has the higher net margin (8.73% vs 6.31%) and the higher return on invested capital (10.5% vs 5.09%). Across the 19 metrics below, Moog Inc. leads on 14 and Karman Holdings Inc. on 5.

Valuation

Metric KRMN MOG.B Aerospace & Defense median
P/E 123.07 33.00 33.00
P/S 8.02 2.88 3.63
P/B 11.23 5.60 3.24
Price to free cash flow n/m 35.21 34.01
EV/EBITDA 35.42 21.03 18.69
EV/Sales 9.37 3.08 3.94
Earnings yield 0.81% 3.03% 1.31%
Free cash flow yield (0.58%) 2.84% 0.00%

Profitability

Metric KRMN MOG.B Aerospace & Defense median
Gross margin 41.67% 28.20% 25.48%
Operating margin 16.82% 11.93% 4.54%
Net margin 6.31% 8.73% 2.22%
Free cash flow margin (4.63%) 8.18% 0.00%
Return on equity 9.50% 18.11% 6.43%
Return on assets 3.10% 8.23% 2.70%
Return on invested capital 5.09% 10.52% 1.56%

Growth

Metric KRMN MOG.B Aerospace & Defense median
Revenue growth (TTM) 50.23% 15.81% 18.43%
EPS growth (last fiscal year) 62.50% 14.53% —
Revenue growth, 5-year CAGR — 6.00% 9.62%
Net income growth, 5-year CAGR — 91.17% 0.00%

Health

Metric KRMN MOG.B Aerospace & Defense median
Debt to equity 2.01 0.41 0.24
Current ratio 3.56 2.09 2.72
Net debt to EBITDA 4.60 1.75 1.12

Dividend

Metric KRMN MOG.B Aerospace & Defense median
Dividend yield — 0.93% 1.04%
Payout ratio — 0.21 0.00

Size

Metric KRMN MOG.B Aerospace & Defense median
Market cap 4.64b 3.66b 2.52b

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