KTOS
Kratos Defense & Security Solutions, Inc.
KTOS's fundamentals are mixed: revenue grew 28%, but free cash flow was negative. At 290x earnings, it's trading right at its usual valuation.
KTOS Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Stable | |
| Weak | |
| Strong |
KTOS's revenue and balance sheet are currently strong, and its profitability is stable, but its cash flow is weak.
KTOS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 42x | $5.00 | -86% |
| Current | 290x | $34.75 | — |
| Fair | 291x | $34.94 | +0.5% |
| Expensive | 584x | $70.12 | +102% |
Historical ranges are pointers, not guarantees.
KTOS's PE is in its fair range at 290x.
KTOS Forward outlook
There aren't enough analyst estimates for KTOS to show an outlook.
KTOS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $0.12 | -7.7% |
| Q2 2026 | $0.17 | +70% |
| Q1 2026 | $0.17 | +31% |
| Q4 2025 | $0.13 | +18% |
| Q3 2025 | $0.13 | +44% |
| Q2 2025 | $0.10 | +67% |
| Q1 2025 | $0.13 | +$0.14 |
| Q4 2024 | $0.11 | +$0.18 |
KTOS's earnings per share have fallen from their peak: $0.12 over the past year, against $0.66 in mid-2021.
KTOS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $471.8M | +36% |
| Q2 2026 | $458.8M | +31% |
| Q1 2026 | $371M | +23% |
| Q4 2025 | $345.1M | +22% |
| Q3 2025 | $347.6M | +26% |
| Q2 2025 | $351.5M | +17% |
| Q1 2025 | $302.6M | +9.2% |
| Q4 2024 | $283.1M | +3.4% |
KTOS's revenue has grown year over year for 20 quarters in a row: $472M last quarter, up 36% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -1% | -3.1 points |
| Q2 2026 | -0.3% | -1.4 points |
| Q1 2026 | 1.3% | -0.9 points |
| Q4 2025 | 2.4% | +1.3 points |
| Q3 2025 | 2% | -0.3 points |
| Q2 2025 | 1.1% | -3.1 points |
| Q1 2025 | 2.2% | -0.3 points |
| Q4 2024 | 1.1% | -3.2 points |
KTOS's operating margin was −1% last quarter, down 3.1 points from the same quarter a year ago, near the bottom of its range since 2019.
KTOS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$35.4M | +$5.9M |
| Q2 2026 | -$28.2M | +$4M |
| Q1 2026 | -$47.3M | +$4.5M |
| Q4 2025 | -$12.1M | -138% |
| Q3 2025 | -$41.3M | -$32.1M |
| Q2 2025 | -$32.2M | -$16.8M |
| Q1 2025 | -$51.8M | -$35.9M |
| Q4 2024 | $32M | -33% |
KTOS has burned cash in most quarters: −$123M over the past year, against −$93M the year before.
KTOS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.7% | -1.3M shares |
| 1 year | +9.2% | +15.9M shares |
| 3 years | +46% | +59.2M shares |
| 5 years | +51% | +63.9M shares |
| Available history | +73% | +79.6M shares |
KTOS has 189M diluted shares, up 9.2% from a year ago.
KTOS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -16.9x | Net Cash |
| Q2 2026 | -17.5x | Net Cash |
| Q1 2026 | -19.0x | Net Cash |
| Q4 2025 | -7.7x | Net Cash |
| Q3 2025 | -8.7x | Net Cash |
| Q2 2025 | -9.8x | Net Cash |
| Q1 2025 | -1.3x | Net Cash |
| Q4 2024 | -2.2x | Net Cash |
KTOS has more cash than debt.
KTOS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 34.0 | Neutral |
| Stochastic | 11.4 | Oversold |
KTOS's weekly RSI is 34 (neutral) and its Stochastic is 11 (oversold).
KTOS PE vs Industrials Sector
| Metric | KTOS | Sector median | Relative |
|---|---|---|---|
| PE | 290x | 24x | 1,105% above |
| PE % | 49 | 58 | 9 pts below |
KTOS is trading at 290x earnings, a 1105% premium to the Industrials sector's median of 24x.
KTOS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $40.1 | 13% below |
| 20 week MA | $47.1 | 26% below |
| 50 week MA | $65.2 | 47% below |
| 100 week MA | $57.7 | 40% below |
| 200 week MA | $37.8 | 8.2% below |
KTOS is in a downtrend: it's below all five of its weekly moving averages, and 8.2% below its 200-week average.
KTOS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $17.8 | $26.4 | +49% |
| 2021 | $26.4 | $19.8 | -25% |
| 2022 | $19.8 | $9.44 | -52% |
| 2023 | $9.44 | $20.3 | +115% |
| 2024 | $20.3 | $26.5 | +31% |
| 2025 | $26.5 | $77.7 | +193% |
| 2026 YTD | $77.7 | $34.8 | -55% |
KTOS's yearly returns have swung widely, from +193% in 2025 to −52% in 2022. It's down 55% so far in 2026.