Karman Holdings Inc. KRMN
Company coverage
Research activity
KRMN 43 trade records · 0 option records · 2025-09-15 → 2026-05-07Moat
StrongOver 90% of revenue is IP protected while nearly 90% is purchased on a sole-source basis, creating powerful customer lock-in with DoD and aerospace contractors. Comprehensive vertical integration — engineering, design, analysis, testing, qualificati…
Physical assets
ModerateManufacturing and engineering facilities supporting high-reliability defense systems production. Recent acquisitions (MTI, ISP, Five Axis Industries) deepen manufacturing capabilities. Assets are valuable primarily for their specialization in defens…
Software / hardware
Growth. 90% sole-source defense revenue and 1.32x book-to-bill sustain 20-25% organic growth as $758M backlog converts across 100+ defense programs. Primary assets. MTI, ISP, Five Axis Industries (acquisitions), sole-source contracts across 100+ def…
- manual · sw-hw
Growth. 90% sole-source defense revenue and 1.32x book-to-bill sustain 20-25% organic growth as $758M backlog converts across 100+ defense programs. Primary assets. MTI, ISP, Five Axis Industries (acquisitions), sole-source contr…
- manual · physical-assets
Manufacturing and engineering facilities supporting high-reliability defense systems production. Recent acquisitions (MTI, ISP, Five Axis Industries) deepen manufacturing capabilities. Assets are valuable primarily for their spec…
- manual · moat
Over 90% of revenue is IP protected while nearly 90% is purchased on a sole-source basis, creating powerful customer lock-in with DoD and aerospace contractors. Comprehensive vertical integration — engineering, design, analysis,…
| Date | Action | Type | Relative size |
|---|---|---|---|
| 2026-05-07 | SELL | Equity | +46% |
| 2026-05-05 | SELL | Equity | +4% |
| 2026-05-05 | SELL | Equity | +74% |
| 2026-05-05 | SELL | Equity | +26% |
| 2026-05-05 | SELL | Equity | +10% |
| 2026-05-05 | SELL | Equity | +25% |
| 2026-05-05 | SELL | Equity | +87% |
| 2026-05-01 | SELL | Equity | +50% |
| 2026-05-01 | SELL | Equity | +0% |
| 2026-04-24 | BUY | Equity | +15% |
| 2026-04-20 | BUY | Equity | +8% |
| 2026-02-27 | BUY | Equity | +10% |
| 2026-01-29 | BUY | Equity | +100% |
| 2026-01-09 | BUY | Equity | +5% |
| 2026-01-09 | BUY | Equity | +5% |
| 2026-01-08 | BUY | Equity | +10% |
| 2026-01-07 | BUY | Equity | +0% |
| 2026-01-05 | BUY | Equity | +1% |
| 2026-01-02 | BUY | Equity | +0% |
| 2026-01-02 | BUY | Equity | +2% |
| 2025-12-26 | BUY | Equity | +1% |
| 2025-12-22 | BUY | Equity | +1% |
| 2025-12-02 | BUY | Equity | +1% |
| 2025-12-02 | BUY | Equity | +0% |
Notes
Full portfolio moat / asset analysis
Over 90% of revenue is IP protected while nearly 90% is purchased on a sole-source basis, creating powerful customer lock-in with DoD and aerospace contractors. Comprehensive vertical integration — engineering, design, analysis, testing, qualification, and in-house manufacturing — creates significant barriers. 70+ customers across 100+ defense programs with…
Full portfolio moat / asset analysis
Manufacturing and engineering facilities supporting high-reliability defense systems production. Recent acquisitions (MTI, ISP, Five Axis Industries) deepen manufacturing capabilities. Assets are valuable primarily for their specialization in defense manufacturing rather than intrinsic scarcity.