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MARKETS / NASDAQ / KTOS
NASDAQ · GUIDED MISSILES & SPACE VEHICLES & PARTS · LARGE CAP

Kratos Defense & Security Solutions, Inc. KTOS

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$1.3B
▲ 18.5% YoY
$22.0M
▲ 35.0% YoY
$-137.4M
In brief

What this company does

Kratos is a technology, hardware, products, systems and software company that addresses the defense, national security, and commercial markets. Its primary business areas include virtualized ground systems for satellites and space vehicles, jet-powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones and missiles, command, control, communication, computing, combat, intelligence, surveillance and reconnaissance (C5ISR) products, microwave electronic products for missile, radar and air defense systems, and virtual and augmented reality training systems for the warfighter. As of December 28, 2025, it had a work force of approximately 4,300 full-time, part-time and on-call employees in approximately 14 countries. Revenues from U.S. Government agency customers, for whose contracts the company acts as prime contractor or as subcontractor, accounted for approximately 68% of total revenues in 2025. The company operates in two reportable segments, Kratos Government Solutions (KGS) and Unmanned Systems (US), each an aggregation of underlying operating segments. The company was incorporated in the state of New York on December 19, 1994, began operations in March 1995, and reincorporated in Delaware in 1998.

Written from the business description in KRATOS DEFENSE & SECURITY SOLUTIONS, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 23 February 2026. Every sentence was checked against that document before publication.

Growth
USD 1.3B
Revenue, FY2025 · full 17-year series below
Revenue $B Net income $B
FY2025 · Revenue 1.3 · Net income 0.0
0.5B1.0B200920112013201520172019202120232025
Compound annual growth
+14.5%
+12.5%
+7.4%
+8.3%
−22.7%
+1.1%
+2.8%
−28.0%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +12.5% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
2 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 1.9% · Net 1.6%
5%10%-5%-10%200920112013201520172019202120232025
ROE
FY2025 · ROE 1.3%
5%-10%-20%-30%200920112013201520172019202120232025

Each USD of equity produced 1 cents of profit this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -137.4
10M20M-50M-100M200920112013201520172019202120232025
Net buybacks $M Dividends $M
FY2013 · Dividends — · Net buybacks 0.0
-40M-80M2010201120122013

Total assetsUSD 2.5B
EquityUSD 2.0B
CashUSD 560.6M
Gross debtUSD 0.00
Net debtUSD -560.6M
Current ratio4.06×

The company holds more cash than debt.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B1.31.11.00.90.80.70.70.60.60.50.70.80.81.00.70.40.3
Operating income $B0.00.00.0−0.00.00.00.00.0−0.0−0.0−0.00.00.0−0.00.00.0−0.0
EBITDA $B0.10.10.10.00.10.10.10.00.00.00.00.00.10.00.10.0−0.0
Income tax $B0.00.00.00.00.0−0.10.00.0−0.00.0−0.00.00.0−0.00.0−0.00.0
Net income $B0.00.0−0.0−0.0−0.00.10.0−0.0−0.0−0.10.0−0.1−0.0−0.1−0.00.0−0.0
Free cash flow $B−0.1−0.00.0−0.1−0.00.0········−0.00.00.0
EPS, diluted $0.130.11−0.07−0.29−0.020.670.11−0.03−0.48−0.990.34−1.35−0.65−2.44−0.880.86−2.99
Dividend / sh $·················
Payout %·················
ROE %1.31.2···········−36.6−10.09.8−33.2
Shares out B0.170.150.130.130.120.120.110.100.100.070.060.060.060.060.030.02·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 83 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 12 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityGuided Missiles & Space Vehicles & Parts
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 27
Data on record since2009

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