KTOS Chart
About

Kratos Defense & Security Solutions, Inc., a technology company, provides technology, hardware, products, system, and software for the defense, national security, and commercial markets in the United States, other North America, the Asia Pacific, the Middle East, Europe, and Internationally. The company operates through Kratos Government Solutions and Unmanned Systems segments. It offers virtualized ground systems for satellites and space vehicles, including software for command and control, telemetry, and tracking and control; jet powered unmanned aerial drone systems and hypersonic vehicles and rocket systems; propulsion systems for drones, missiles, loitering munitions, supersonic systems, spacecraft and launch systems, command, control, communication, computing, combat, and intelligence surveillance and reconnaissance; and microwave electronic products for missile, radar, missile defense, space, and satellite; and counter unmanned aircraft systems, directed energy, communication and other systems, and virtual and augmented reality training systems for the warfighter. The company primarily serves national security-related agencies, the U.S. Department of Defense, intelligence and classified agencies, international government agencies, and domestic and international commercial customers. Kratos Defense & Security Solutions, Inc. was formerly known as Wireless Facilities, Inc. and changed its name to Kratos Defense & Security Solutions, Inc. in August 1999. Kratos Defense & Security Solutions, Inc. was incorporated in 1994 and is headquartered in San Diego, California.

Fundamentals
Scroll to Statements
Sector Industrials Industry Aerospace & Defense Market Cap 16.61B
Enterprise Value 14.74B Income 22.00M Sales 1.35B
Book/sh 11.82 Cash/sh 3.29 Dividend Yield
Payout 0.00% Employees 4300 IPO
P/E 684.31 Forward P/E 83.04 PEG
P/S 12.34 P/B 7.53 P/C
EV/EBITDA 197.03 EV/Sales 10.94 Quick Ratio 3.27
Current Ratio 4.06 Debt/Eq 7.30 LT Debt/Eq
EPS (ttm) 0.13 EPS next Y 1.07 EPS Growth 18.60%
Revenue Growth 21.90% Earnings 2026-05-07 ROA 0.78%
ROE 1.31% ROIC Gross Margin 22.86%
Oper. Margin 2.93% Profit Margin 1.63% Shs Outstand 186.76M
Shs Float 168.01M Short Float 4.07% Short Ratio 1.81
Short Interest 52W High 134.00 52W Low 25.78
Beta 1.15 Avg Volume 4.06M Volume 3.26M
Target Price $117.95 Recom Buy Prev Close $92.47
Price $88.96 Change -3.80%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$117.95
Mean price target
2. Current target
$88.96
Latest analyst target
3. DCF / Fair value
$-12.23
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$88.96
Low
$85.00
High
$150.00
Mean
$117.95

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-24 main Canaccord Genuity Buy → Buy $125
2026-02-24 main BTIG Buy → Buy $115
2026-02-18 init UBS — → Neutral $79
2026-01-28 main Keybanc Overweight → Overweight $130
2026-01-22 init Piper Sandler — → Neutral $99
2026-01-20 main Goldman Sachs Buy → Buy $125
2026-01-13 main Stifel Buy → Buy $134
2026-01-12 main Citizens Market Outperform → Market Outperform $125
2026-01-09 main B. Riley Securities Buy → Buy $128
2026-01-05 init Jones Trading — → Buy
2025-12-19 init Keybanc — → Overweight $90
2025-12-01 up B. Riley Securities Neutral → Buy $105
2025-11-06 main BTIG Buy → Buy $95
2025-10-15 main Truist Securities Buy → Buy $125
2025-10-15 main Stifel Buy → Buy $112
2025-10-09 main Canaccord Genuity Buy → Buy $120
2025-10-08 down B. Riley Securities Buy → Neutral $105
2025-10-02 main JMP Securities Market Outperform → Market Outperform $105
2025-09-26 main Baird Outperform → Outperform $87
2025-09-09 main Canaccord Genuity Buy → Buy $74
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 6066 533739.0 Sale at price 83.16 - 89.81 per share. ROCK STACEY G Officer 2026-03-06 00:00:00 D
1 4000 341422.0 Sale at price 83.25 - 88.74 per share. CARTER DAVID M Officer 2026-03-05 00:00:00 D
2 15000 Stock Award(Grant) at price 0.00 per share. MILLS THOMAS E IV Officer 2026-03-04 00:00:00 D
3 75000 Stock Award(Grant) at price 0.00 per share. LUND DEANNA HOM Chief Financial Officer 2026-03-04 00:00:00 D
4 412500 Stock Award(Grant) at price 0.00 per share. DEMARCO ERIC M Chief Executive Officer 2026-03-04 00:00:00 I
5 15000 Stock Award(Grant) at price 0.00 per share. ROCK STACEY G Officer 2026-03-04 00:00:00 D
6 15000 Stock Award(Grant) at price 0.00 per share. ADELMAN JONAH Officer 2026-03-04 00:00:00 D
7 50000 Stock Award(Grant) at price 0.00 per share. CARRAI PHILLIP D Officer 2026-03-04 00:00:00 D
8 15000 Stock Award(Grant) at price 0.00 per share. CARTER DAVID M Officer 2026-03-04 00:00:00 D
9 15834 Stock Award(Grant) at price 0.00 per share. MENDOZA MARIE C General Counsel 2026-03-04 00:00:00 D
Financials
Line Item2025-12-312024-12-312023-12-312022-12-31
TaxEffectOfUnusualItems-739.20K-1.50M-273.00K-4.30M
TaxRateForCalcs0.350.380.210.21
NormalizedEBITDA105.00M97.50M78.80M46.70M
TotalUnusualItems-2.10M-3.90M-1.30M-20.50M
TotalUnusualItemsExcludingGoodwill-2.10M-3.90M-1.30M-20.50M
NetIncomeFromContinuingOperationNetMinorityInterest22.00M16.30M-8.90M-36.90M
ReconciledDepreciation59.30M51.90M44.70M40.90M
ReconciledCostOfRevenue1.04B849.10M768.50M672.30M
EBITDA102.90M93.60M77.50M26.20M
EBIT43.60M41.70M32.80M-14.70M
NetInterestIncome5.90M-3.00M-20.50M-17.70M
InterestExpense9.60M15.20M21.70M18.30M
InterestIncome15.50M12.20M1.20M600.00K
NormalizedIncome23.36M18.70M-7.87M-20.70M
NetIncomeFromContinuingAndDiscontinuedOperation22.00M16.30M-8.90M-36.90M
TotalExpenses1.32B1.10B1.00B893.70M
TotalOperatingIncomeAsReported25.60M29.00M31.10M-2.90M
DilutedAverageShares150.90M130.40M126.70M128.00M
BasicAverageShares149.00M130.40M126.70M124.60M
DilutedEPS0.11-0.07-0.29-0.02
BasicEPS0.11-0.07-0.29-0.02
DilutedNIAvailtoComStockholders22.00M16.30M-8.90M-36.90M
NetIncomeCommonStockholders22.00M16.30M-8.90M-36.90M
NetIncome22.00M16.30M-8.90M-36.90M
MinorityInterests0.000.00-11.30M-3.70M
NetIncomeIncludingNoncontrollingInterests22.00M16.30M2.40M-33.20M
NetIncomeDiscontinuousOperations200.00K900.00K-2.10M
NetIncomeContinuousOperations22.00M16.30M2.40M-33.20M
TaxProvision12.00M10.20M8.70M200.00K
PretaxIncome34.00M26.50M11.10M-33.00M
OtherIncomeExpense400.00K-3.40M-800.00K-19.90M
OtherNonOperatingIncomeExpenses2.50M500.00K500.00K600.00K
SpecialIncomeCharges-2.10M-3.90M-1.30M-20.50M
OtherSpecialCharges13.00M
RestructuringAndMergernAcquisition2.10M3.90M1.30M7.50M
NetNonOperatingInterestIncomeExpense5.90M-3.00M-20.50M-17.70M
InterestExpenseNonOperating9.60M15.20M21.70M18.30M
InterestIncomeNonOperating15.50M12.20M1.20M600.00K
OperatingIncome27.70M32.90M32.40M4.60M
OperatingExpense280.20M254.30M236.20M221.40M
ResearchAndDevelopment40.00M40.30M38.40M38.60M
SellingGeneralAndAdministration240.20M214.00M197.80M182.80M
GrossProfit307.90M287.20M268.60M226.00M
CostOfRevenue1.04B849.10M768.50M672.30M
TotalRevenue1.35B1.14B1.04B898.30M
OperatingRevenue1.35B1.14B1.04B898.30M
Line Item2025-12-312024-12-312023-12-312022-12-31
PreferredSharesNumber10.00K10.00K10.00K10.00K
OrdinarySharesNumber168.88M151.09M129.29M125.99M
ShareIssued168.88M151.09M129.29M125.99M
NetDebt146.50M168.90M
TotalDebt145.80M282.00M321.40M301.80M
TangibleBookValue1.35B730.50M344.50M322.90M
InvestedCapital2.00B1.53B1.20B1.19B
WorkingCapital951.90M575.40M301.70M348.40M
NetTangibleAssets1.35B730.50M344.50M322.90M
CapitalLeaseObligations145.80M107.40M102.10M51.60M
CommonStockEquity2.00B1.35B976.00M936.30M
TotalCapitalization2.00B1.53B1.20B1.19B
TotalEquityGrossMinorityInterest2.00B1.35B998.50M947.50M
MinorityInterest0.0022.50M11.20M15.20M
StockholdersEquity2.00B1.35B976.00M936.30M
GainsLossesNotAffectingRetainedEarnings2.10M-500.00K1.70M-800.00K
OtherEquityAdjustments2.10M-500.00K1.70M-800.00K
RetainedEarnings-641.90M-663.90M-680.20M-671.30M
AdditionalPaidInCapital2.64B2.02B1.65B1.61B
CapitalStock200.00K200.00K0.000.00
CommonStock200.00K200.00K0.000.00
PreferredStock0.000.000.000.00
TotalLiabilitiesNetMinorityInterest470.90M597.70M634.00M604.00M
TotalNonCurrentLiabilitiesNetMinorityInterest159.90M301.00M341.50M369.80M
OtherNonCurrentLiabilities30.30M32.20M33.50M77.40M
LiabilitiesHeldforSaleNonCurrent1.10M1.40M2.50M
LongTermDebtAndCapitalLeaseObligation129.60M268.80M308.00M291.00M
LongTermCapitalLeaseObligation129.60M94.20M88.70M40.80M
LongTermDebt174.60M219.30M250.20M296.70M
CurrentLiabilities311.00M296.70M292.50M234.20M
OtherCurrentLiabilities9.00M14.50M14.10M16.50M
CurrentDeferredLiabilities73.40M76.30M101.80M62.10M
CurrentDeferredRevenue73.40M76.30M101.80M62.10M
CurrentDebtAndCapitalLeaseObligation16.20M13.20M13.40M10.80M
CurrentCapitalLeaseObligation16.20M13.20M13.40M10.80M
PensionandOtherPostRetirementBenefitPlansCurrent82.30M71.90M64.70M52.20M
PayablesAndAccruedExpenses130.10M120.80M98.50M92.60M
CurrentAccruedExpenses60.50M38.80M35.40M35.30M
InterestPayable1.70M1.50M1.50M
Payables69.60M82.00M63.10M57.30M
AccountsPayable69.60M82.00M63.10M57.30M
TotalAssets2.47B1.95B1.63B1.55B
TotalNonCurrentAssets1.20B1.08B1.04B968.90M
OtherNonCurrentAssets144.40M130.30M117.50M95.00M
InvestmentsAndAdvances5.00M0.00
LongTermEquityInvestment5.00M0.00
InvestmentsinJointVenturesatCost5.00M0.00
GoodwillAndOtherIntangibleAssets649.60M622.70M631.50M613.40M
OtherIntangibleAssets53.90M53.80M62.40M55.20M
Goodwill595.70M568.90M569.10M558.20M
NetPPE405.30M325.80M289.30M260.50M
AccumulatedDepreciation-210.50M-186.50M-159.40M-137.30M
GrossPPE615.80M512.30M448.70M397.80M
Leases43.00M30.80M24.00M22.90M
ConstructionInProgress103.90M81.80M69.70M51.00M
OtherProperties147.10M108.60M101.80M102.30M
MachineryFurnitureEquipment281.30M249.80M212.40M183.20M
LandAndImprovements40.50M41.30M40.80M38.40M
Properties0.000.000.000.00
CurrentAssets1.26B872.10M594.20M582.60M
OtherCurrentAssets43.90M39.00M20.10M35.60M
RestrictedCash0.00
PrepaidAssets12.90M18.00M16.00M11.90M
Inventory188.20M162.10M156.20M125.50M
FinishedGoods6.90M4.30M5.30M1.10M
WorkInProcess71.90M67.70M72.90M50.80M
RawMaterials109.40M90.10M78.00M73.60M
Receivables457.30M323.70M329.10M328.30M
OtherReceivables292.40M206.30M200.40M222.80M
AccountsReceivable164.90M117.40M128.70M105.50M
AllowanceForDoubtfulAccountsReceivable-1.00M-1.10M-1.10M-400.00K
GrossAccountsReceivable165.90M118.50M129.80M105.90M
CashCashEquivalentsAndShortTermInvestments560.60M329.30M72.80M81.30M
CashAndCashEquivalents560.60M329.30M72.80M81.30M
Line Item2025-12-312024-12-312023-12-312022-12-31
FreeCashFlow-137.40M-8.50M12.80M-71.10M
RepaymentOfDebt-186.80M-53.90M-102.50M-353.70M
IssuanceOfDebt0.0010.00M69.00M300.00M
IssuanceOfCapitalStock555.90M330.70M0.000.00
CapitalExpenditure-95.30M-58.20M-52.40M-45.40M
InterestPaidSupplementalData6.30M14.60M19.60M13.70M
IncomeTaxPaidSupplementalData6.50M5.00M6.50M4.40M
EndCashPosition560.60M329.30M72.80M81.30M
BeginningCashPosition329.30M72.80M81.30M349.40M
EffectOfExchangeRateChanges1.00M-1.10M800.00K-1.70M
ChangesInCash230.30M257.60M-9.30M-266.40M
FinancingCashFlow360.70M277.60M-30.70M-63.30M
CashFlowFromContinuingFinancingActivities360.70M277.60M-30.70M-63.30M
NetOtherFinancingCharges-18.30M-17.40M-3.70M-15.80M
ProceedsFromStockOptionExercised9.90M8.20M6.50M6.20M
NetCommonStockIssuance555.90M330.70M0.000.00
CommonStockIssuance555.90M330.70M0.000.00
NetIssuancePaymentsOfDebt-186.80M-43.90M-33.50M-53.70M
NetLongTermDebtIssuance-186.80M-43.90M-33.50M-53.70M
LongTermDebtPayments-186.80M-53.90M-102.50M-353.70M
LongTermDebtIssuance0.0010.00M69.00M300.00M
InvestingCashFlow-88.30M-69.70M-43.80M-177.40M
CashFromDiscontinuedInvestingActivities0.00-100.00K-4.50M
CashFlowFromContinuingInvestingActivities-88.30M-69.70M-43.80M-177.40M
NetOtherInvestingChanges12.00M8.30M200.00K6.70M
NetBusinessPurchaseAndSale-5.00M-11.50M300.00K-132.20M
SaleOfBusiness300.00K
PurchaseOfBusiness-5.00M-11.50M0.00-132.20M
CapitalExpenditureReported-95.30M-58.20M-52.40M-45.40M
OperatingCashFlow-42.10M49.70M65.20M-25.70M
CashFromDiscontinuedOperatingActivities-100.00K-4.50M
CashFlowFromContinuingOperatingActivities-42.10M49.70M65.20M-25.70M
ChangeInWorkingCapital-168.00M-53.40M-11.40M-75.90M
ChangeInOtherWorkingCapital-4.60M-26.00M27.90M2.80M
ChangeInOtherCurrentLiabilities-15.20M-13.90M-13.00M-17.90M
ChangeInOtherCurrentAssets-27.10M-35.60M-12.30M-18.70M
ChangeInPayablesAndAccruedExpense19.10M23.80M18.20M10.90M
ChangeInAccruedExpense32.80M8.70M13.80M6.40M
ChangeInInterestPayable200.00K100.00K-100.00K
ChangeInPayable-13.70M15.10M4.40M4.50M
ChangeInAccountPayable-13.70M15.10M4.40M4.50M
ChangeInPrepaidAssets5.10M-1.80M-3.90M-1.90M
ChangeInInventory-19.30M-5.00M-29.60M-23.80M
ChangeInReceivables-126.00M5.10M1.30M-27.30M
ChangesInAccountReceivables-44.60M11.20M-13.10M-4.90M
OtherNonCashItems500.00K700.00K700.00K6.30M
StockBasedCompensation35.50M29.80M25.30M26.30M
ProvisionandWriteOffofAssets0.000.001.00M0.00
DeferredTax8.10M4.40M2.50M-3.10M
DeferredIncomeTax8.10M4.40M2.50M-3.10M
DepreciationAmortizationDepletion59.30M51.90M44.70M40.90M
DepreciationAndAmortization59.30M51.90M44.70M40.90M
AmortizationCashFlow6.80M7.40M4.70M
AmortizationOfIntangibles6.80M7.40M4.70M
Depreciation59.30M51.90M44.70M40.90M
OperatingGainsLosses500.00K13.00M
NetIncomeFromContinuingOperations22.00M16.30M2.40M-33.20M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for KTOS
Date User Broker Pattern Type Position Size Entry Price Trade P&L Status