Karman Holdings vs Redwire
Karman Holdings is the larger business, with $472m of revenue in fiscal 2025 against $335m for Redwire (1.4 times as much). Karman Holdings grew faster (36.6% against 10.3%). Karman Holdings kept more of each dollar of sales as profit: a net margin of 3.7% against -67.6%. Redwire carries less debt relative to equity (8.3% against 132.4%).
| Latest fiscal year | Karman HoldingsKRMN, 2025 | RedwireRDW, 2025 |
|---|---|---|
| Revenue | $472m | $335m |
| Revenue growth | 36.6% | 10.3% |
| Net income | $17.4m | −$227m |
| Operating margin | 15.5% | -68.5% |
| Net margin | 3.7% | -67.6% |
| Return on equity | 6.0% | -52.0% |
| Free cash flow | −$42.5m | −$191m |
| Cash | $34.0m | $94.5m |
| Total debt | $507m | $88.4m |
| Debt to equity | 132.4% | 8.3% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 1,400 | 1,410 |
| Market value | $5.22bn | $2.02bn |
| Price vs our value range | — | — |
| Moat score | — | 16 (Weak) |
| Insider trades, 12 months | 3 buys, 8 sales | 6 buys, 39 sales |