Karman Holdings vs Intuitive Machines
Karman Holdings is the larger business, with $472m of revenue in fiscal 2025 against $210m for Intuitive Machines (2.2 times as much). Karman Holdings grew faster (36.6% against -7.9%). Karman Holdings kept more of each dollar of sales as profit: a net margin of 3.7% against -39.7%.
| Latest fiscal year | Karman HoldingsKRMN, 2025 | Intuitive MachinesLUNR, 2025 |
|---|---|---|
| Revenue | $472m | $210m |
| Revenue growth | 36.6% | -7.9% |
| Net income | $17.4m | −$83.3m |
| Operating margin | 15.5% | -41.5% |
| Net margin | 3.7% | -39.7% |
| Return on equity | 6.0% | — |
| Free cash flow | −$42.5m | −$56.0m |
| Cash | $34.0m | $583m |
| Total debt | $507m | $335m |
| Debt to equity | 132.4% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $20.7m |
| Employees | 1,400 | 525 |
| Market value | $5.22bn | $1.70bn |
| Price vs our value range | — | — |
| Moat score | — | — |
| Insider trades, 12 months | 3 buys, 8 sales | 2 buys, 74 sales |