What is Kratos Defense & Sec Solutions's earnings per share (EPS)?

Kratos Defense & Sec Solutions (KTOS) reported diluted earnings per share of $0.13 for fiscal year 2025. This represents a 18.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Kratos Defense & Sec Solutions (KTOS) Financials

KTOS

Trailing 12 months to June 28, 2026

Revenue $1.5B +25.5% YoY

Net Income $30.9M +113.1% YoY

EPS (Diluted) $0.17 +70.0% YoY

Free Cash Flow -$128.9M -110.6% YoY

Market Cap $8.8B as of Sep 11, 2026

Price / Sales 5.8x on $1.5B revenue, trailing 12 months to June 28, 2026

Price / Earnings 285x on $30.9M net income, trailing 12 months to June 28, 2026

Price / Book 2.6x on $3.4B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 11, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 28, 2026 Reported Aug 4, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the KTOS SEC filings page.

Kratos Defense & Sec Solutions (KTOS) reported $1.5B in revenue over the twelve months to Jun 28, 2026, up 25.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI KTOS FY2025 2026-08-29

Revenue expansion is increasingly paired with heavier reinvestment, weaker cash conversion, and a balance sheet reshaped by financing.

Accounting profit and cash generation diverged sharply in FY2025: net income reached $22M, yet operating cash flow was -$42.1M and free cash flow was -$137.4M. Capital expenditures rose to $95.3M while accounts receivable climbed to $165M, indicating that reported earnings were not arriving as cash because investment and customer balances absorbed funds.

The business did not show clear fixed-cost absorption as revenue expanded: gross margin narrowed from 25.9% in FY2023 to 22.9% in FY2025, while operating margin declined from 3.0% to 1.9%. More sales therefore produced only modest operating-profit improvement, with cost growth consuming much of the expansion.

The balance sheet became less debt-funded but more dependent on equity financing: long-term debt fell from $174.6M to $0, liabilities declined to $470.9M, and financing cash flow was $360.7M in FY2025 as shares outstanding increased to 170.3M. Current liquidity strengthened to a 4.1x current ratio, but the funding mix changed materially.

Financial Health Signals

Financial Health Score 60/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Kratos Defense & Sec Solutions's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Kratos Defense & Sec Solutions has an operating margin of 1.9%, meaning the company retains $2 of operating profit per $100 of revenue. This results in a moderate score of 43/100, indicating healthy but not exceptional operating efficiency. This is down from 2.5% the prior year.

Growth

Kratos Defense & Sec Solutions's revenue surged 18.5% year-over-year to $1.3B, reflecting rapid business expansion. This strong growth earns a score of 73/100.

Leverage

Kratos Defense & Sec Solutions carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 4.06, Kratos Defense & Sec Solutions holds $4.06 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 88/100.

Cash Flow

Kratos Defense & Sec Solutions's operations used $42.1M of cash, and capex of $95.3M added to the outflow, for a free cash flow shortfall of $137.4M. This results in a cash flow score of 16/100.

Returns

Kratos Defense & Sec Solutions's ROE of 1.1% shows moderate profitability relative to equity, earning a score of 40/100. This is down from 1.2% the prior year.

Altman Z-Score Safe

11.92

Kratos Defense & Sec Solutions scores 11.92, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($8.8B) relative to total liabilities ($470.9M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

4/9

Kratos Defense & Sec Solutions passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality No Cash Backing

$1.91used

For every $1 of reported earnings, Kratos Defense & Sec Solutions used $1.91 of operating cash (-$42.1M OCF vs $22.0M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.

Interest Coverage Adequate

2.67x

Kratos Defense & Sec Solutions earns $2.67 in operating income for every $1 of interest expense ($25.6M vs $9.6M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$458.8M

YoY+30.5%

QoQ+23.7%

5Y CAGR+18.8%

10Y CAGR+11.0%

Kratos Defense & Sec Solutions generated $458.8M in revenue in Q2 2026. This represents an increase of 30.5% from the same quarter a year earlier. Against the prior quarter it is up 23.7%.

EBITDA

$20.5M

YoY+32.3%

QoQ-4.7%

5Y CAGR+12.9%

10Y CAGR+10.6%

Kratos Defense & Sec Solutions's EBITDA was $20.5M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 32.3% from the same quarter a year earlier. Against the prior quarter it is down 4.7%.

Net Income

$4.4M

YoY+51.7%

QoQ-63.0%

5Y CAGR+18.3%

10Y CAGR-22.3%

Kratos Defense & Sec Solutions reported $4.4M in net income in Q2 2026. This represents an increase of 51.7% from the same quarter a year earlier. Against the prior quarter it is down 63.0%.

EPS (Diluted)

$0.02

QoQ-71.4%

5Y CAGR+14.9%

10Y CAGR-31.8%

Kratos Defense & Sec Solutions earned $0.02 per diluted share (EPS) in Q2 2026. Against the prior quarter it is down 71.4%.

Cash & Balance Sheet

Free Cash Flow

-$28.2M

YoY+12.4%

QoQ+40.4%

Kratos Defense & Sec Solutions recorded an outflow of $28.2M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 12.4% from the same quarter a year earlier. Against the prior quarter it is up 40.4%.

Cash & Debt

$1.4B

YoY+83.5%

QoQ-1.8%

5Y CAGR+30.2%

10Y CAGR+44.7%

Kratos Defense & Sec Solutions held $1.4B in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding

188M

QoQ+0.1%

5Y CAGR+8.7%

10Y CAGR+12.3%

Kratos Defense & Sec Solutions had 188M shares outstanding in Q2 2026. Against the prior quarter it is up 0.1%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

21.8%

YoY+0.8pp

QoQ-2.3pp

5Y change-4.4pp

10Y change-3.2pp

Kratos Defense & Sec Solutions's gross margin was 21.8% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 0.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.3 percentage points.

Operating Margin

-0.4%

YoY-1.4pp

QoQ-1.6pp

5Y change-2.9pp

10Y change-1.3pp

Kratos Defense & Sec Solutions's operating margin was -0.4% in Q2 2026, reflecting core business profitability. This is down 1.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.6 percentage points.

Net Margin

1.0%

YoY+0.1pp

QoQ-2.3pp

5Y change0.0pp

10Y change-33.1pp

Kratos Defense & Sec Solutions's net profit margin was 1.0% in Q2 2026, showing the share of revenue converted to profit. This is up 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.3 percentage points.

Return on Equity

0.1%

YoY0.0pp

QoQ-0.2pp

5Y change-0.1pp

10Y change-21.3pp

Kratos Defense & Sec Solutions's ROE was 0.1% in Q2 2026, measuring profit generated per dollar of shareholder equity. That is unchanged from the same quarter a year earlier. Against the prior quarter it is down 0.2 percentage points.

Capital Allocation

R&D Spending

$13.6M

YoY+33.3%

QoQ+27.1%

5Y CAGR+11.2%

Kratos Defense & Sec Solutions invested $13.6M in research and development in Q2 2026. This represents an increase of 33.3% from the same quarter a year earlier. Against the prior quarter it is up 27.1%.

Capital Expenditures

$17.2M

YoY-16.1%

QoQ-13.6%

5Y CAGR+12.4%

Kratos Defense & Sec Solutions invested $17.2M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 16.1% from the same quarter a year earlier. Against the prior quarter it is down 13.6%.

Share Buybacks

Not reported for Q2 2026.

KTOS Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

KTOS quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$1.5B	$1.3B+18.5%	$1.1B+9.6%	$1.0B+15.5%	$898.3M+10.7%	$811.5M+8.5%	$747.7M+4.2%	$717.5M+16.1%	$618.0M-17.8%	$751.9M+12.4%	$668.7M+1.8%	$657.1M-13.9%	$763.0M-9.6%	$844.1M-12.9%	$969.2M+35.8%	$713.9M
Cost of Revenue	$1.2B	$1.0B+22.4%	$849.1M+10.5%	$768.5M+14.3%	$672.3M+14.6%	$586.4M+7.7%	$544.5M+3.2%	$527.5M+17.7%	$448.3M+0.6%	$445.7M+5.8%	$421.4M+8.5%	$388.3M-33.5%	$583.6M-8.8%	$639.6M-10.2%	$712.0M+36.2%	$522.7M
Gross Profit	$350.2M	$307.9M+7.2%	$287.2M+6.9%	$268.6M+18.8%	$226.0M+0.4%	$225.1M+10.8%	$203.2M+6.9%	$190.0M+12.0%	$169.7M+7.7%	$157.6M+30.8%	$120.5M-3.0%	$124.2M-30.8%	$179.4M-12.3%	$204.5M-20.5%	$257.2M+34.5%	$191.2M
R&D Expenses	$44.1M	$40.0M-0.7%	$40.3M+4.9%	$38.4M-0.5%	$38.6M+9.7%	$35.2M+30.4%	$27.0M+50.0%	$18.0M+15.4%	$15.6M-12.4%	$17.8M+28.1%	$13.9M-14.2%	$16.2M-12.9%	$18.6M-5.6%	$19.7M+10.7%	$17.8M+107.0%	$8.6M
SG&A Expenses	$282.9M	$240.2M+10.6%	$217.2M+9.3%	$198.7M+8.7%	$182.8M+14.1%	$160.2M+10.9%	$144.5M+10.5%	$130.8M+9.2%	$119.8M-5.9%	$127.3M+11.1%	$114.6M-3.0%	$118.2M-23.0%	$153.6M-11.1%	$172.8M-10.5%	$193.1M+37.3%	$140.6M
Operating Income	$18.4M	$25.6M-11.7%	$29.0M-6.8%	$31.1M+1172.4%	-$2.9M-110.4%	$27.9M-4.8%	$29.3M-22.9%	$38.0M+24.6%	$30.5M+354.2%	-$12.0M+33.3%	-$18.0M-87.5%	-$9.6M-281.1%	$5.3M-70.9%	$18.2M+136.6%	-$49.7M-268.5%	$29.5M
EBITDA	N/A	$72.7M+4.9%	$69.3M+7.8%	$64.3M+133.0%	$27.6M-48.5%	$53.6M-0.6%	$53.9M-12.2%	$61.4M+26.9%	$48.4M+374.5%	$10.2M+126.7%	$4.5M-71.7%	$15.9M-57.8%	$37.7M-41.6%	$64.6M+678.3%	$8.3M-89.3%	$77.5M
Interest Expense	N/A	$9.6M-36.8%	$15.2M-30.0%	$21.7M+18.6%	$18.3M-22.8%	$23.7M+0.4%	$23.6M+0.4%	$23.5M+8.8%	$21.6M-25.8%	$29.1M-16.1%	$34.7M-3.6%	$36.0M-8.6%	$39.4M-15.1%	$46.4M-30.1%	$66.4M+29.7%	$51.2M
Income Tax	$9.9M	$12.0M+17.6%	$10.2M+17.2%	$8.7M+4250.0%	$200K-94.9%	$3.9M+105.3%	-$73.5M-1631.3%	$4.8M+4.3%	$4.6M+145.1%	-$10.2M-275.9%	$5.8M+142.0%	-$13.8M-453.8%	$3.9M+254.5%	$1.1M+168.8%	-$1.6M-184.2%	$1.9M
Net Income	$30.9M	$22.0M+35.0%	$16.3M+283.1%	-$8.9M+75.9%	-$36.9M-1745.0%	-$2.0M-102.5%	$79.6M+536.8%	$12.5M+457.1%	-$3.5M+91.8%	-$42.7M+29.4%	-$60.5M-405.6%	$19.8M+125.4%	-$78.0M-109.7%	-$37.2M+67.5%	-$114.4M-372.7%	-$24.2M
EPS (Basic)	N/A	$0.14+27.3%	$0.11+257.1%	-$0.07+75.9%	-$0.29-1350.0%	-$0.02-102.9%	$0.69+475.0%	$0.12+500.0%	-$0.03+93.7%	-$0.48+51.5%	-$0.99-391.2%	$0.34+125.2%	-$1.35-107.7%	-$0.65+73.4%	-$2.44-177.3%	-$0.88
EPS (Diluted)	$0.17	$0.13+18.2%	$0.11+257.1%	-$0.07+75.9%	-$0.29-1350.0%	-$0.02-103.0%	$0.67+509.1%	$0.11+466.7%	-$0.03+93.7%	-$0.48+51.5%	-$0.99-391.2%	$0.34+125.2%	-$1.35-107.7%	-$0.65+73.4%	-$2.44	-$0.88
Diluted Shares (Avg)	N/A	165M+9.5%	151M+15.7%	130M+2.9%	127M-1.0%	128M+7.8%	119M+8.7%	109M+2.9%	106M+18.5%	90M+46.0%	61M+4.4%	59M+1.9%	58M+1.4%	57M+21.1%	47M	27M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$458.8M+30.5%	$371.0M+22.6%	$345.1M+21.9%	$347.6M+26.0%	$351.5M+17.1%	$302.6M+9.2%	$283.1M+3.1%	$275.9M
Cost of Revenue	$358.7M+29.2%	$281.4M+22.9%	$261.7M+22.7%	$270.5M+30.9%	$277.7M+24.6%	$229.0M+11.1%	$213.3M+6.0%	$206.7M
Gross Profit	$100.1M+35.6%	$89.6M+21.7%	$83.4M+19.5%	$77.1M+11.4%	$73.8M-4.4%	$73.6M+3.7%	$69.8M-4.9%	$69.2M
R&D Expenses	$13.6M+33.3%	$10.7M+7.0%	$9.8M-7.5%	$10.0M+1.0%	$10.2M0.0%	$10.0M+4.2%	$10.6M+2.9%	$9.9M
SG&A Expenses	$87.3M+45.7%	$72.3M+26.8%	$63.5M+14.0%	$59.8M+13.7%	$59.9M+9.9%	$57.0M+4.8%	$55.7M+9.4%	$52.6M
Operating Income	-$1.6M-143.2%	$4.7M-28.8%	$8.2M+173.3%	$7.1M+9.2%	$3.7M-70.4%	$6.6M-5.7%	$3.0M-75.4%	$6.5M
EBITDA	$20.5M+32.3%	$21.5M+26.5%	$21.2M+59.4%	$19.0M+13.1%	$15.5M-32.3%	$17.0M+4.3%	$13.3M-34.8%	$16.8M
Interest Expense	N/A	N/A	N/A	N/A	$1.2M	$900K-67.9%	N/A	N/A
Income Tax	$2.6M+52.9%	-$2.1M-333.3%	$6.2M+6100.0%	$3.2M+23.1%	$1.7M-64.6%	$900K-66.7%	$100K-97.4%	$2.6M
Net Income	$4.4M+51.7%	$11.9M+164.4%	$5.9M+51.3%	$8.7M+171.9%	$2.9M-63.3%	$4.5M+246.2%	$3.9M+343.8%	$3.2M
EPS (Basic)	$0.020.0%	$0.07+133.3%	$0.04+33.3%	$0.05+150.0%	$0.02-60.0%	$0.03+200.0%	$0.03+400.0%	$0.02
EPS (Diluted)	$0.02	$0.07+133.3%	$0.03	$0.05+150.0%	$0.02-60.0%	$0.03+200.0%	$0.03+400.0%	$0.02
Diluted Shares (Avg)	190M	179M+14.9%	N/A	173M+12.2%	157M+2.5%	156M+10.4%	N/A	154M

KTOS Balance Sheet

KTOS quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$2.5B+26.5%	$2.0B+19.5%	$1.6B+5.2%	$1.6B-2.4%	$1.6B+1.7%	$1.6B+31.8%	$1.2B+17.4%	$1.0B-1.4%	$1.0B+7.9%	$948.6M+5.0%	$903.3M-20.1%	$1.1B-7.0%	$1.2B-5.2%	$1.3B+5.6%	$1.2B
Current Assets	$1.3B+44.8%	$872.1M+46.8%	$594.2M+2.0%	$582.6M-23.1%	$758.1M-0.9%	$764.8M+46.5%	$522.2M+5.6%	$494.7M+4.9%	$471.4M+26.3%	$373.1M+16.4%	$320.4M-14.1%	$373.2M-13.3%	$430.3M-5.5%	$455.4M+8.2%	$421.0M
Cash & Equivalents	$560.6M+70.2%	$329.3M+352.3%	$72.8M-10.5%	$81.3M-76.7%	$349.4M-8.2%	$380.8M+120.6%	$172.6M-5.5%	$182.7M+40.0%	$130.5M+88.9%	$69.1M+142.5%	$28.5M-14.9%	$33.5M-38.2%	$54.2M+12.0%	$48.4M-30.5%	$69.6M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$46.8M-5.6%	$49.6M-13.3%	$57.2M+1.6%	$56.3M+16.6%	$48.3M-35.9%	$75.3M-20.2%	$94.4M+18.1%	$79.9M
Accounts Receivable	$165.0M+40.4%	$117.5M-8.8%	$128.8M+21.9%	$105.7M+12.6%	$93.9M-1.5%	$95.3M+12.1%	$85.0M+31.6%	$64.6M-12.9%	$74.2M-67.7%	$229.4M+10.9%	$206.8M-4.9%	$217.5M-18.2%	$265.8M-2.2%	$271.9M+10.8%	$245.3M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$595.7M+4.7%	$568.9M0.0%	$569.1M+2.0%	$558.2M+13.0%	$493.9M+2.1%	$483.9M+6.2%	$455.6M+7.0%	$425.7M0.0%	$425.7M-12.3%	$485.4M+0.4%	$483.4M0.0%	$483.4M-18.9%	$596.4M0.0%	$596.4M+4.3%	$571.6M
Total Liabilities	$470.9M-21.2%	$597.7M-5.7%	$634.0M+5.0%	$604.0M-4.0%	$629.2M+1.0%	$622.7M+4.3%	$596.9M+21.6%	$490.8M-4.2%	$512.5M-23.8%	$672.2M+3.6%	$649.1M-28.4%	$906.9M-1.5%	$920.8M-4.1%	$959.8M+6.2%	$903.4M
Current Liabilities	$311.0M+4.8%	$296.7M+1.4%	$292.5M+24.9%	$234.2M+5.9%	$221.1M+11.9%	$197.6M+8.2%	$182.7M+10.9%	$164.7M-12.8%	$188.9M-3.9%	$196.5M+14.0%	$172.4M-23.8%	$226.1M-9.9%	$251.0M-10.0%	$278.8M+30.4%	$213.8M
Non-Current Liabilities	$159.9M-46.9%	$301.0M-11.9%	$341.5M-7.7%	$369.8M-9.4%	$408.1M-4.0%	$425.1M+2.6%	$414.2M+27.0%	$326.1M+0.8%	$323.6M-32.0%	$475.7M-0.2%	$476.7M-30.0%	$680.8M+1.6%	$669.8M-1.6%	$681.0M-1.2%	$689.6M
Long-Term Debt	$0-100.0%	$174.6M-20.4%	$219.3M-12.4%	$250.2M-15.7%	$296.7M-1.4%	$301.0M+2.0%	$295.1M+0.3%	$294.2M+0.2%	$293.5M-31.9%	$431.0M-2.9%	$444.1M-27.7%	$614.4M-2.3%	$628.8M-0.1%	$629.7M-0.2%	$630.8M
Total Equity	$2.0B+47.5%	$1.4B+38.6%	$976.0M+4.2%	$936.3M-0.9%	$945.1M+2.1%	$925.3M+61.2%	$574.1M+10.6%	$519.3M+1.5%	$511.5M+85.1%	$276.4M+8.7%	$254.2M+13.3%	$224.3M-24.2%	$295.8M-8.7%	$324.1M+3.7%	$312.6M
Retained Earnings	-$641.9M+3.3%	-$663.9M+2.4%	-$680.2M-1.3%	-$671.3M-5.8%	-$634.4M-0.3%	-$632.4M+11.2%	-$712.0M+1.7%	-$724.5M-0.5%	-$720.8M-6.3%	-$678.1M-9.8%	-$617.6M+3.1%	-$637.4M-13.9%	-$559.4M-7.1%	-$522.2M-28.1%	-$407.8M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$4.1B+58.2%	$4.0B+101.6%	$2.5B+26.5%	$2.4B+26.7%	$2.6B+35.1%	$2.0B+2.8%	$2.0B+22.6%	$1.9B
Current Assets	$2.4B+64.9%	$2.3B+167.3%	$1.3B+44.8%	$1.2B+47.5%	$1.4B+67.9%	$864.4M-0.8%	$872.1M+44.3%	$838.4M
Cash & Equivalents	$1.4B+83.5%	$1.5B+455.3%	$560.6M+70.2%	$565.9M+87.7%	$783.6M+154.3%	$263.7M-22.2%	$329.3M+680.3%	$301.5M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$171.3M+20.5%	$194.5M+64.6%	$165.0M+40.4%	$136.3M+20.9%	$142.2M+8.0%	$118.2M+1.1%	$117.5M-8.3%	$112.7M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$871.2M+45.5%	$884.1M+48.0%	$595.7M+4.7%	$595.0M+4.6%	$598.8M+5.3%	$597.4M+5.0%	$568.9M+1.9%	$568.9M
Total Liabilities	$663.0M+6.0%	$632.7M+2.5%	$470.9M-21.2%	$441.8M-22.4%	$625.7M+7.0%	$617.3M+5.3%	$597.7M-3.3%	$569.5M
Current Liabilities	$425.3M+31.9%	$410.7M+34.7%	$311.0M+4.8%	$287.4M+10.3%	$322.4M+18.4%	$304.9M+5.8%	$296.7M+12.8%	$260.5M
Non-Current Liabilities	$237.7M-21.6%	$222.0M-28.9%	$159.9M-46.9%	$154.4M-50.0%	$303.3M-3.0%	$312.4M+4.9%	$301.0M-15.2%	$309.0M
Long-Term Debt	N/A	N/A	$0-100.0%	$0-100.0%	$169.8M-5.4%	$172.2M-4.0%	$174.6M-25.4%	$177.0M
Total Equity	$3.4B+74.8%	$3.4B+145.7%	$2.0B+47.5%	$2.0B+47.6%	$2.0B+47.4%	$1.4B+6.2%	$1.4B+41.9%	$1.3B
Retained Earnings	-$625.6M+4.7%	-$630.0M+4.5%	-$641.9M+3.3%	-$647.8M+3.0%	-$656.5M+2.2%	-$659.4M+2.9%	-$663.9M+2.7%	-$667.8M

Not reported in any period shown, so not listed: Inventory.

KTOS Cash Flow Statement

KTOS quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$39.6M	-$42.1M-184.7%	$49.7M-23.8%	$65.2M+353.7%	-$25.7M-172.8%	$35.3M-21.0%	$44.7M+54.7%	$28.9M+59.7%	$18.1M+167.3%	-$26.9M-84.2%	-$14.6M+50.8%	-$29.7M-1288.0%	$2.5M-88.6%	$21.9M-58.1%	$52.3M+905.8%	$5.2M
Depreciation & Amortization	N/A	$47.1M+16.9%	$40.3M+21.4%	$33.2M+8.9%	$30.5M+18.7%	$25.7M+4.5%	$24.6M+5.1%	$23.4M+30.7%	$17.9M-19.4%	$22.2M-1.3%	$22.5M-11.8%	$25.5M-21.3%	$32.4M-30.2%	$46.4M-20.0%	$58.0M+20.8%	$48.0M
Stock-Based Compensation	N/A	$35.5M+19.1%	$29.8M+17.8%	$25.3M-3.8%	$26.3M+1.9%	$25.8M+22.9%	$21.0M+90.9%	$11.0M+52.8%	$7.2M-7.7%	$7.8M+52.9%	$5.1M-16.4%	$6.1M+69.4%	$3.6M-50.0%	$7.2M+9.1%	$6.6M+100.0%	$3.3M
Capital Expenditures	$89.3M	$95.3M+63.7%	$58.2M+11.1%	$52.4M+15.4%	$45.4M-2.4%	$46.5M+29.5%	$35.9M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$7.5M
Free Cash Flow	-$128.9M	-$137.4M-1516.5%	-$8.5M-166.4%	$12.8M+118.0%	-$71.1M-534.8%	-$11.2M-227.3%	$8.8M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$2.3M
Investing Cash Flow	-$420.5M	-$88.3M-26.7%	-$69.7M-59.1%	-$43.8M+75.3%	-$177.4M-240.5%	-$52.1M+40.3%	-$87.3M-99.8%	-$43.7M-207.9%	$40.5M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	$1.1B	$360.7M+29.9%	$277.6M+1004.2%	-$30.7M+51.5%	-$63.3M-580.6%	-$9.3M-103.8%	$247.7M+6977.1%	$3.5M+105.9%	$1.7M-98.5%	$113.4M	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0-100.0%	$10.9M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$11.0M+6.0%	-$27.4M+6.2%	$12.1M-73.5%	-$13.3M-318.0%	-$11.7M-333.3%	-$29.2M-4271.4%	$45.6M	$6.1M
Depreciation & Amortization	$22.1M+87.3%	$16.8M+61.5%	$13.0M+26.2%	$11.9M+15.5%	$11.8M+13.5%	$10.4M+11.8%	$10.3M+25.6%	$10.3M
Stock-Based Compensation	N/A	$15.0M+72.4%	N/A	N/A	N/A	$8.7M-5.4%	N/A	N/A
Capital Expenditures	$17.2M-16.1%	$19.9M-11.9%	$24.2M+77.9%	$28.0M+83.0%	$20.5M+61.4%	$22.6M+36.1%	$13.6M-4.2%	$15.3M
Free Cash Flow	-$28.2M+12.4%	-$47.3M+8.7%	-$12.1M-137.8%	-$41.3M-348.9%	-$32.2M-109.1%	-$51.8M-225.8%	$32.0M+325.4%	-$9.2M
Investing Cash Flow	-$10.2M+50.2%	-$365.1M-1515.5%	-$17.2M-26.5%	-$28.0M-83.0%	-$20.5M+15.3%	-$22.6M-36.1%	-$13.6M+4.2%	-$15.3M
Financing Cash Flow	-$6.1M-101.1%	$1.3B+9046.9%	$500K+116.7%	-$176.1M-11106.3%	$550.8M+15400.0%	-$14.5M-105.1%	-$3.0M-134.5%	$1.6M

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

KTOS Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

KTOS quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	22.9%-2.4pp	25.3%-0.6pp	25.9%+0.7pp	25.2%-2.6pp	27.7%+0.6pp	27.2%+0.7pp	26.5%-1.0pp	27.5%+6.5pp	21.0%+2.9pp	18.0%-0.9pp	18.9%-4.6pp	23.5%-0.7pp	24.2%-2.3pp	26.5%-0.2pp	26.8%
Operating Margin	1.9%-0.6pp	2.5%-0.5pp	3.0%+3.3pp	-0.3%-3.8pp	3.4%-0.5pp	3.9%-1.4pp	5.3%+0.4pp	4.9%+6.5pp	-1.6%+1.1pp	-2.7%-1.2pp	-1.5%-2.1pp	0.7%-1.5pp	2.2%+7.3pp	-5.1%-9.3pp	4.1%
Net Margin	1.6%+0.2pp	1.4%+2.3pp	-0.9%+3.3pp	-4.1%-3.9pp	-0.3%-10.9pp	10.7%+8.9pp	1.7%+2.3pp	-0.6%+5.1pp	-5.7%+3.4pp	-9.0%-12.1pp	3.0%+13.2pp	-10.2%-5.8pp	-4.4%+7.4pp	-11.8%-8.4pp	-3.4%
Return on Equity	1.1%-0.1pp	1.2%+2.1pp	-0.9%+3.0pp	-3.9%-3.7pp	-0.2%-8.8pp	8.6%+6.4pp	2.2%+2.9pp	-0.7%+7.7pp	-8.3%+13.5pp	-21.9%-29.7pp	7.8%+42.6pp	-34.8%-22.2pp	-12.6%+22.7pp	-35.3%-27.6pp	-7.7%
Return on Assets	0.9%+0.1pp	0.8%+1.4pp	-0.5%+1.8pp	-2.4%-2.3pp	-0.1%-5.2pp	5.1%+4.0pp	1.1%+1.4pp	-0.4%+3.8pp	-4.2%+2.2pp	-6.4%-8.6pp	2.2%+9.1pp	-6.9%-3.8pp	-3.1%+5.8pp	-8.9%-6.9pp	-2.0%
Current Ratio	4.06+1.1x	2.94+0.9x	2.03-0.5x	2.49-0.9x	3.43-0.4x	3.87+1.0x	2.86-0.1x	3.00+0.5x	2.50+0.6x	1.900.0x	1.86+0.2x	1.65-0.1x	1.71+0.1x	1.63-0.3x	1.97
Debt-to-Equity	0.00-0.1x	0.13-0.1x	0.220.0x	0.270.0x	0.310.0x	0.33-0.2x	0.51-0.1x	0.570.0x	0.57-1.0x	1.56-0.2x	1.75-1.0x	2.74+0.6x	2.13+0.2x	1.94-0.1x	2.02
Asset Turnover	0.550.0x	0.58-0.1x	0.64+0.1x	0.58+0.1x	0.510.0x	0.48-0.1x	0.600.0x	0.61-0.1x	0.730.0x	0.700.0x	0.73+0.1x	0.670.0x	0.69-0.1x	0.75+0.2x	0.59
FCF Margin	-10.2%-9.4pp	-0.8%-2.0pp	1.2%+9.1pp	-7.9%-6.5pp	-1.4%-2.6pp	1.2%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-0.3%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	21.8%+0.8pp	24.1%-0.2pp	24.2%-0.5pp	22.2%-2.9pp	21.0%-4.7pp	24.3%-1.3pp	24.7%-2.1pp	25.1%
Operating Margin	-0.4%-1.4pp	1.3%-0.9pp	2.4%+1.3pp	2.0%-0.3pp	1.1%-3.1pp	2.2%-0.3pp	1.1%-3.4pp	2.4%
Net Margin	1.0%+0.1pp	3.2%+1.7pp	1.7%+0.3pp	2.5%+1.3pp	0.8%-1.8pp	1.5%+1.0pp	1.4%+2.0pp	1.2%
Return on Equity	0.1%0.0pp	0.4%0.0pp	0.3%0.0pp	0.4%+0.2pp	0.1%-0.4pp	0.3%+0.2pp	0.3%+0.5pp	0.2%
Return on Assets	0.1%0.0pp	0.3%+0.1pp	0.2%0.0pp	0.4%+0.2pp	0.1%-0.3pp	0.2%+0.1pp	0.2%+0.3pp	0.2%
Current Ratio	5.54+1.1x	5.63+2.8x	4.06+1.1x	4.30+1.1x	4.43+1.3x	2.83-0.2x	2.94+0.6x	3.22
Debt-to-Equity	0.19+0.1x	0.19+0.1x	0.00-0.1x	0.00-0.1x	0.090.0x	0.120.0x	0.13-0.1x	0.13
Asset Turnover	0.110.0x	0.09-0.1x	0.140.0x	0.140.0x	0.140.0x	0.150.0x	0.150.0x	0.14
FCF Margin	-6.2%+3.0pp	-12.8%+4.4pp	-3.5%-14.8pp	-11.9%-8.5pp	-9.2%-4.0pp	-17.1%-11.4pp	11.3%+16.5pp	-3.3%

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Kratos Defense & Sec Solutions KTOS	FY2025	$1.3B	$22.0M	1.6%	$8.8B	60/100
Leonardo DRS, Inc. DRS	FY2025	$3.6B	$278.0M	7.6%	$9.7B	69/100
Aerovironment AVAV	FY2026	$2.0B	-$265.1M	-13.4%	$7.5B	55/100
Embraer ERJ	FY2025	$7.6B	$359.0M	4.7%	$11.8B	45/100
Huntington Ingalls Inds Inc HII	FY2025	$12.5B	$605.0M	4.9%	$11.1B	46/100
Textron TXT	FY2025	$14.8B	$921.0M	6.2%	$13.6B	23/100

Where Kratos Defense & Sec Solutions Ranks

Frequently Asked Questions

What is Kratos Defense & Sec Solutions's annual revenue?

Kratos Defense & Sec Solutions (KTOS) reported $1.3B in total revenue for fiscal year 2025. This represents a 18.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Kratos Defense & Sec Solutions's revenue growing?

Kratos Defense & Sec Solutions (KTOS) revenue grew by 18.5% year-over-year, from $1.1B to $1.3B in fiscal year 2025.

Is Kratos Defense & Sec Solutions profitable?

Yes, Kratos Defense & Sec Solutions (KTOS) reported a net income of $22.0M in fiscal year 2025, with a net profit margin of 1.6%.

What is Kratos Defense & Sec Solutions's EBITDA?

Kratos Defense & Sec Solutions (KTOS) had EBITDA of $72.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Kratos Defense & Sec Solutions have?

As of fiscal year 2025, Kratos Defense & Sec Solutions (KTOS) had $560.6M in cash and equivalents against $0 in long-term debt.

What is Kratos Defense & Sec Solutions's gross margin?

Kratos Defense & Sec Solutions (KTOS) had a gross margin of 22.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Kratos Defense & Sec Solutions's operating margin?

Kratos Defense & Sec Solutions (KTOS) had an operating margin of 1.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Kratos Defense & Sec Solutions's net profit margin?

Kratos Defense & Sec Solutions (KTOS) had a net profit margin of 1.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Kratos Defense & Sec Solutions's return on equity (ROE)?

Kratos Defense & Sec Solutions (KTOS) has a return on equity of 1.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Kratos Defense & Sec Solutions's free cash flow?

Kratos Defense & Sec Solutions (KTOS) recorded an outflow of $137.4M in free cash flow during fiscal year 2025. This represents a -1516.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Kratos Defense & Sec Solutions's operating cash flow?

Kratos Defense & Sec Solutions (KTOS) recorded an outflow of $42.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Kratos Defense & Sec Solutions's total assets?

Kratos Defense & Sec Solutions (KTOS) had $2.5B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Kratos Defense & Sec Solutions's capital expenditures?

Kratos Defense & Sec Solutions (KTOS) invested $95.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Kratos Defense & Sec Solutions spend on research and development?

Kratos Defense & Sec Solutions (KTOS) invested $40.0M in research and development during fiscal year 2025.

How many shares does Kratos Defense & Sec Solutions have outstanding?

Kratos Defense & Sec Solutions (KTOS) had 170M shares outstanding as of fiscal year 2025.

What is Kratos Defense & Sec Solutions's current ratio?

Kratos Defense & Sec Solutions (KTOS) had a current ratio of 4.06 as of fiscal year 2025, which is generally considered healthy.

What is Kratos Defense & Sec Solutions's debt-to-equity ratio?

Kratos Defense & Sec Solutions (KTOS) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Kratos Defense & Sec Solutions's return on assets (ROA)?

Kratos Defense & Sec Solutions (KTOS) had a return on assets of 0.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Kratos Defense & Sec Solutions's P/E ratio?

Kratos Defense & Sec Solutions (KTOS) trades at 285x earnings, its market capitalization divided by net income of $30.9M net income, trailing 12 months to June 28, 2026. The market capitalization is $8.8B as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Kratos Defense & Sec Solutions's price-to-sales ratio?

Kratos Defense & Sec Solutions (KTOS) trades at 5.8x sales, its market capitalization divided by revenue of $1.5B revenue, trailing 12 months to June 28, 2026. The market capitalization is $8.8B as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Kratos Defense & Sec Solutions's Altman Z-Score?

Kratos Defense & Sec Solutions (KTOS) has an Altman Z-Score of 11.92, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Kratos Defense & Sec Solutions's Piotroski F-Score?

Kratos Defense & Sec Solutions (KTOS) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Kratos Defense & Sec Solutions's earnings high quality?

For every $1 of reported earnings, Kratos Defense & Sec Solutions (KTOS) used $1.91 of operating cash (-$42.1M OCF vs $22.0M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Kratos Defense & Sec Solutions cover its interest payments?

Kratos Defense & Sec Solutions (KTOS) has an interest coverage ratio of 2.67x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Kratos Defense & Sec Solutions?

Kratos Defense & Sec Solutions (KTOS) scores 60 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.