Reading the annual reports…
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
KTOS · Nasdaq · United States · Guided Missiles & Space Vehicles & Parts
In shortKRATOS DEFENSE & SECURITY SOLUTIONS, INC. is profitable, burns cash and holds more cash than debt, with revenue growing (+18.5% last year).
Financial health
Mixed
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 1.9% | 23/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 1.6% | 27/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 1.3% | 7/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 0.8% | 6/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 4.06× | 100/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.00× | 100/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 2.67× | 11/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 6.20 | 100/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -10.2% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | -6.25× | 0/100 |
| Years with positive free cash flow (last 5) | 1 of 5 | 0/100 |
Weight in the score: 20%
| Profitable years (last 5) | 2 of 5 | 40/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 5 | 100/100 |
| Revenue growth volatility | 4.3% | 95/100 |
| Operating margin volatility | 1.5% | 96/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 14.5% | 97/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 812 | 898 | 1,037 | 1,136 | 1,347 |
| Cost of revenue | 586 | 672 | 769 | 849 | 1,039 |
| Gross profit | 225 | 226 | 269 | 287 | 308 |
| Research & development | 35 | 39 | 38 | 40 | 40 |
| Selling, general & admin | 160 | 183 | 199 | 217 | 240 |
| Operating income | 28 | (2.9) | 31 | 29 | 26 |
| Interest expense | 24 | 18 | 22 | 15 | 9.6 |
| Pre-tax income | 4.4 | (33) | 11 | 27 | 34 |
| Income tax | 3.9 | 0.2 | 8.7 | 10 | 12 |
| Net income | (2) | (37) | (8.9) | 16 | 22 |
| Diluted EPS | −$0.02 | −$0.29 | −$0.07 | $0.11 | $0.13 |
| Diluted shares (millions) | 128 | 127 | 130 | 151 | 165 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
6.20 Safe zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
4/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 28, 2026 · Data updated Aug 4, 2026