KTOS Kratos Defense & Security Solutions, Inc. - Common Stock
$59.64
Price · Aug 19, 2026
Fundamentals as of Aug 4, 2026
52W Range
$43–$134
18% of range
Analyst Rating
BUY
29 analysts
Price Target
$106
+77% upside
P/E (TTM)
509.1
ROE
1.1%
Net Profit Margin
1.6%
About Kratos Defense & Security Solutions, Inc. - Common Stock Company overview from Wikipedia
Kratos Defense & Security Solutions, Inc. is an American technology company with manufacturing concentrations in weapons and military electronics. It is headquartered in San Diego, California, United States. Customers include the U.S. federal government, foreign governments, commercial enterprises and state and local government agencies. The company is divided into 6 divisions.
Read more
Kratos Defense & Security Solutions, Inc. is an American technology company with manufacturing concentrations in weapons and military electronics. It is headquartered in San Diego, California, United States. Customers include the U.S. federal government, foreign governments, commercial enterprises and state and local government agencies. The company is divided into 6 divisions.
Some of Kratos' most recent products are part of a Pentagon effort to invest in businesses in Silicon Valley.
History
Kratos Defense & Security Solutions was founded as Wireless Facilities Incorporated (WFI), a company whose primary market was the building and support of the telecommunications infrastructure and networks. In 2004, the company primarily sold its services to the US Government, mostly the U.S. Department of Defense.
From 2004 to 2009, the company acquired several companies in the federal services business. Acquisitions included several small public safety firms and mid-sized professional services firms such as:
High Technology Solutions (HTS), communications systems engineering and operational network outsourcing.
Madison Research (MRD): engineering and information technology services.
Haverstick Consulting (Haverstick): engineering and program management, and government outsourcing
SYS Technologies (SYS): information technology products (dopplerVUE and NeuralStar), services and wireless communication systems for the United States Department of Defense, Department of Homeland Security and various industrial customers.
Digital Fusion, Inc (DFI)
In September 2007, the company's name was changed to Kratos Defense & Security Solutions.
Merger with Integral Systems
On July 27, 2011, Integral Systems merged with Kratos. Integral Systems provided services regarding the handling of data from space and terrestrial-based platforms into networks for military, government, and commercial satellite and aerospace customers.
Integral Systems employed about 800 people in 14 locations, and had 6 subsidiaries:
Integral Systems, Inc.: central holding company.
Integral Systems Europe: European branch.
Lumistar: telemetry products for PCI, VME, cPCI, and ISA computer buses.
Newpoint Technologies: communications infrastructure management.
RT Logic: signal processing systems for the space and aerospace communications industry.
SAT Corporation: SAT Corporation bought CVG, Inc. and changed its name to SATCOM Solutions. Less than a year later, Kratos bought Integral Systems, and changed SATCOM Solutions back to CVG, Inc.
CVG, Inc.: satellite-based communication services. Its subsidiaries include Avtec Systems, Inc. and Sophia Wireless.
In February 2019, Kratos purchased Florida Turbine Technologies.
Technical Directions Inc. (TDI)
On February 24, 2020, Kratos bought small turbojet manufacturer, Technical Directions Inc. (TDI), based in Detroit, Michigan. Their smallest TDI-J45 powered the AFRL LOCAAS program of Lockheed Martin, a late 1990s endeavor to build a cheap anti-tank missile, which was since cancelled. It was selected by starting an engine using a leaf blower: TDI achieved ignition at 5% engine speed. TDI engines typically operate at 200–534 kn (370–989 km/h) and at altitudes of 20,000-30,000 ft; they run the fuel through the mechanical bearings to avoid oil lubrication.
The TDI-J85 powers the US AFRL’s Gray Wolf, a low-cost cruise missile built by Northrop Grumman with a range of at least 250 nm (463 km).
In March 2020, the Gray Wolf was tested with high altitude operation and multiple inflight engine starts.
The Gray Wolf may be used in a networked swarm, like the AFRL Golden Horde initiative to be demonstrated in late 2020 with a modified Small Diameter Bomb I and a modified Miniature Air-Launched Decoy, coordinated against a simulated target in a fall 2021 demonstration.
Kratos is expected in 2026 to open a new jet engine production line in Bristow, Oklahoma, initially creating 60 jobs.
Products
AN/SEQ-3 Laser Weapon System
Kratos XQ-58 Valkyrie
Composite Engineering BQM-167 Skeeter
"Demogorgon", or "Off-Board Sensing Station" drone (OBSS program)
Clone Ranger UCAV
Ragnarök (926 km range cruise missile)
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
KTOS Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$59.64
Market Cap
$11.18B
P/E (TTM)
509.1
EPS (TTM)
$0.13
Revenue (TTM)
$1.35B
Div Yield
—
ROE
1.1%
Debt/Equity
0.0
52W Range
$43 – $134
KTOS Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$1.35B
2017-12-31
→
2025-12-28
EPS
$0.13
2017-12-31
→
2025-12-28
Free Cash Flow
$-137M
2022-12-25
→
2025-12-28
Margins
1.6%
2017-12-31
→
2025-12-28
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
KTOS
Peer Median
P/E (TTM)
509.1
54.1
P/S (TTM)
8.3
7.1
P/B
5.6
4.8
EV / EBITDA
146.0
—
Price / FCF
-81.3
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
KTOS
Peer Median
Gross Margin
22.9%
25.4%
Operating Margin
1.9%
—
Net Profit Margin
1.6%
5.4%
ROA
1.0%
3.8%
ROE
1.1%
8.1%
ROIC
0.83%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
KTOS
Peer Median
Debt / Equity
0.0
16.4
Current Ratio
4.1
3.0
Quick Ratio
2.3
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
KTOS
Peer Median
Revenue YoY
18.5%
—
Revenue CAGR 3Y
14.4%
—
Revenue CAGR 5Y
12.5%
—
EPS YoY
18.2%
—
Net Income YoY
35.0%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
KTOS
Peer Median
KTOS Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
29 analysts
- Strong Buy 10 34.5%
- Buy 15 51.7%
- Hold 4 13.8%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
21 analysts · 2026-08-20
Median
$104.00
← Below all targets
$59.64
Low
$60.00
High
$150.00
Median target
$104.00
+74.4%
Mean target
$105.62
+77.1%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.03%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.21 | $0.14 | 0.07% |
| March 31, 2026 | $0.16 | $0.14 | 0.02% |
| Dec. 31, 2025 | $0.18 | $0.16 | 0.02% |
| Sept. 30, 2025 | $0.14 | $0.13 | 0.01% |
| June 30, 2025 | $0.11 | $0.09 | 0.02% |
| March 31, 2025 | $0.12 | $0.09 | 0.03% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| KTOS | $13.12B | 597.7 | 18.5% | 1.6% | 1.1% | 22.9% |
| TXT | $15.17B | 17.0 | 8.0% | 6.2% | 12.0% | — |
| BWXT | — | 48.3 | 18.3% | 10.3% | 28.4% | — |
| HII | $13.34B | 22.1 | 8.2% | 4.9% | 12.2% | — |
| DRS | $9.06B | 33.1 | 12.8% | 7.6% | 10.4% | 23.8% |
| SARO | $9.59B | 34.6 | 15.8% | 4.6% | 10.7% | — |
| AVAV | $9.87B | -36.1 | 140.9% | -13.4% | -6.0% | 25.3% |
| KRMN | $9.68B | 562.8 | 36.6% | 3.7% | 4.7% | 40.3% |
| HXL | $5.59B | 194.5 | -0.48% | 5.8% | 7.8% | 23.0% |
| LOAR | $6.37B | 90.7 | 23.2% | 14.5% | 6.4% | 52.7% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.35B | $1.14B | $1.04B | $898M | $812M | $748M | $718M | $618M | $603M | $542M | $657M | $763M | |
| Cost of Revenue | $1.04B | $849M | $768M | $672M | $586M | $544M | $528M | $448M | $446M | $421M | $495M | $584M | |
| Gross Profit | $308M | $287M | $269M | $226M | $225M | $203M | $190M | $170M | $158M | $120M | $162M | $179M | |
| R&D Expense | $40M | $40M | $38M | $39M | $35M | $27M | $18M | $16M | $18M | $14M | $16M | $19M | |
| SG&A Expense | $240M | $217M | $199M | $183M | $160M | $144M | $131M | $120M | $127M | $115M | $151M | $154M | |
| Operating Income | $26M | $29M | $31M | $-3M | $28M | $29M | $38M | $30M | $-12M | $-18M | $-4M | $5M | |
| Other Non-op | $2M | $500.0K | $500.0K | $600.0K | $-100.0K | $300.0K | $-700.0K | $-1M | $800.0K | $700.0K | $-700.0K | $1M | |
| Pretax Income | $34M | $26M | $11M | $-33M | $4M | $7M | $16M | $9M | $-57M | $-52M | $-45M | $-72M | |
| Income Tax | $12M | $10M | $9M | $200.0K | $4M | $-74M | $5M | $5M | $-10M | $6M | $-11M | $4M | |
| Net Income | $22M | $16M | $-9M | $-37M | $-2M | $80M | $12M | $-4M | $-43M | $-60M | $20M | $-78M | |
| EPS (Basic) | $0.14 | $0.11 | $-0.07 | $-0.29 | $-0.02 | $0.69 | $0.12 | $-0.03 | $-0.48 | $-0.99 | $0.34 | $-1.35 | |
| EPS (Diluted) | $0.13 | $0.11 | $-0.07 | $-0.29 | $-0.02 | $0.67 | $0.11 | $-0.03 | $-0.48 | $-0.99 | $0.34 | $-1.35 | |
| Shares (Basic) | 162,700,000 | 149,000,000 | 130,400,000 | 126,700,000 | 124,600,000 | 115,500,000 | 106,000,000 | 103,800,000 | 89,500,000 | 61,300,000 | 58,700,000 | 57,600,000 | |
| Shares (Diluted) | 165,200,000 | 150,900,000 | 130,400,000 | 126,700,000 | 128,000,000 | 118,700,000 | 109,200,000 | 106,100,000 | 89,500,000 | 61,300,000 | 58,700,000 | 57,600,000 | |
| EBITDA | $73M | $69M | $64M | $28M | $54M | $54M | $61M | $48M | $17M | $4M | $21M | $59M |
Balance Sheet 28
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $561M | $329M | $73M | $81M | $349M | $381M | $173M | $183M | $130M | $69M | $28M | $34M | |
| Receivables | $165M | $118M | $129M | $106M | $94M | $95M | $85M | $65M | $74M | $229M | $207M | $218M | |
| Inventory | · | · | · | · | · | · | · | $47M | $50M | $57M | $56M | $48M | |
| Prepaid Expense | $13M | $18M | $16M | $12M | $10M | $12M | $9M | $9M | $11M | $9M | $11M | $7M | |
| Other Current Assets | $44M | $39M | $20M | $35M | $22M | $18M | $11M | $10M | $10M | $5M | $14M | $7M | |
| Current Assets | $1.26B | $872M | $594M | $583M | $758M | $765M | $522M | $495M | $471M | $373M | $320M | $373M | |
| PP&E (Net) | · | · | · | · | · | · | $117M | $67M | $58M | $50M | $56M | $62M | |
| PP&E (Gross) | · | · | · | · | · | · | · | $136M | $122M | $108M | $110M | $109M | |
| Accum. Depreciation | · | · | · | · | · | · | · | $69M | $64M | $58M | $54M | $48M | |
| Goodwill | $596M | $569M | $569M | $558M | $494M | $484M | $456M | $426M | $426M | $485M | $483M | $483M | |
| Intangibles | $54M | $54M | $62M | $55M | $43M | $43M | $40M | $16M | $22M | $33M | $36M | $50M | |
| Other Non-current Assets | $144M | $130M | $118M | $95M | $88M | $84M | $10M | $6M | $8M | $8M | $7M | $26M | |
| Total Assets | $2.47B | $1.95B | $1.63B | $1.55B | $1.59B | $1.56B | $1.19B | $1.01B | $1.02B | $949M | $903M | $1.13B | |
| Accounts Payable | $70M | $82M | $63M | $57M | $50M | $55M | $54M | $47M | $35M | $53M | $48M | $45M | |
| Accrued Liabilities | $60M | $39M | $35M | $34M | $27M | $35M | $33M | $38M | $41M | $50M | $33M | $32M | |
| Current Liabilities | $311M | $297M | $292M | $234M | $221M | $198M | $183M | $165M | $189M | $196M | $172M | $226M | |
| Capital Leases | $34M | $30M | $38M | $41M | $33M | $39M | $38M | · | · | · | · | $0 | |
| Deferred Tax | · | · | · | · | · | · | · | · | $7M | $17M | $10M | $900.0K | |
| Other Non-current Liabilities | $30M | $32M | $34M | $77M | $76M | $83M | $79M | $26M | $24M | $24M | $18M | $24M | |
| Total Liabilities | $471M | $598M | $634M | $604M | $629M | $623M | $597M | $491M | $512M | $672M | $649M | $907M | |
| Long-term Debt | · | · | · | · | $297M | $302M | $295M | $294M | $294M | $432M | $445M | $656M | |
| Total Debt | $0 | $175M | $219M | $250M | $297M | $301M | $295M | $294M | $294M | $432M | $445M | $623M | |
| Common Stock | $200.0K | $200.0K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Retained Earnings | $-642M | $-664M | $-680M | $-671M | $-634M | $-632M | $-712M | $-724M | $-721M | $-678M | $-618M | $-637M | |
| AOCI | $2M | $-500.0K | $2M | $-800.0K | $600.0K | $1M | $-400.0K | $-700.0K | $-1M | $-2M | $-1M | $-2M | |
| Stockholders' Equity | $2.00B | $1.35B | $976M | $936M | $945M | $925M | $574M | $519M | $512M | $276M | $254M | $224M | |
| Liabilities + Equity | $2.47B | $1.95B | $1.63B | $1.55B | $1.59B | $1.56B | $1.19B | $1.01B | $1.02B | $949M | $903M | $1.13B | |
| Shares Outstanding | 168,875,032 | 151,100,000 | 129,300,000 | 126,000,000 | 124,000,000 | 123,000,000 | 106,600,000 | 103,800,000 | 103,300,000 | 73,900,000 | 59,100,000 | 57,800,000 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $47M | $40M | $33M | $30M | $26M | $25M | $23M | $18M | $22M | $22M | $26M | $32M | |
| Stock-based Comp | $36M | $30M | $25M | $26M | $26M | $21M | $11M | $7M | $8M | $5M | $6M | $4M | |
| Deferred Tax | $8M | $4M | $2M | $-3M | $-400.0K | $-78M | $-5M | $-400.0K | $-10M | $5M | $900.0K | $2M | |
| Amort. of Intangibles | $10M | $9M | $7M | $7M | $5M | $7M | $7M | $6M | $10M | $10M | $13M | $19M | |
| Restructuring | · | · | · | · | · | · | · | $0 | $0 | $9M | $0 | $0 | |
| Other Non-cash | $-155M | $-41M | $13M | $-42M | $-14M | $-2M | $-13M | $-3M | $-4M | $16M | $-82M | $40M | |
| Operating Cash Flow | $-42M | $50M | $65M | $-26M | $35M | $45M | $29M | $18M | $-27M | $-15M | $-30M | $2M | |
| CapEx | $95M | $58M | $52M | $45M | $46M | $36M | · | · | · | · | · | · | |
| Investing Cash Flow | $-88M | $-70M | $-44M | $-177M | $-52M | $-87M | $-44M | $40M | · | · | · | · | |
| Debt Issued | · | $0 | $0 | $200M | $0 | $5M | $0 | $0 | $300M | $0 | $0 | $618M | |
| Net Debt Issued | · | $0 | $0 | $200M | $0 | $5M | $0 | $0 | $-149M | $-14M | $-175M | $-43M | |
| Stock Issued | $556M | $331M | $0 | $0 | $0 | $240M | $0 | $-1M | $269M | $76M | $0 | $0 | |
| Net Stock Activity | $556M | $331M | · | $0 | $0 | $240M | $0 | $-1M | $269M | $76M | · | $0 | |
| Financing Cash Flow | $361M | $278M | $-31M | $-63M | $-9M | $248M | $4M | $2M | $113M | · | · | · | |
| Net Change in Cash | $231M | $256M | $-8M | $-268M | $-32M | $209M | $-10M | $52M | $60M | $40M | $-5M | $-21M | |
| Taxes Paid | $6M | $5M | $6M | $4M | $2M | $2M | $600.0K | $2M | $-600.0K | $-100.0K | $9M | $1M | |
| Free Cash Flow | $-137M | $-8M | $13M | $-71M | · | · | · | · | · | · | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 22.9% | 25.3% | 25.9% | 25.2% | 27.7% | 27.2% | 26.5% | 27.5% | 26.2% | 23.0% | 24.6% | 25.1% | |
| Operating Margin | 1.9% | 2.5% | 3.0% | -0.29% | 3.4% | 3.9% | 5.3% | 4.9% | -0.77% | -2.8% | -0.68% | 2.3% | |
| Net Margin | 1.6% | 1.4% | -0.86% | -4.1% | -0.25% | 10.7% | 1.7% | -0.57% | -5.7% | -9.0% | 3.0% | -9.0% | |
| Pretax Margin | 2.5% | 2.3% | 1.1% | -3.6% | 0.54% | 0.91% | 2.2% | 1.4% | -6.8% | -7.8% | -6.8% | -8.4% | |
| EBITDA Margin | 5.4% | 6.1% | 6.2% | 3.1% | 6.6% | 7.2% | 8.6% | 7.8% | 2.2% | 0.63% | 3.2% | 6.8% | |
| ROA | 1.0% | 0.84% | -0.56% | -2.4% | -0.13% | 5.8% | 1.1% | -0.34% | -4.3% | -6.5% | 1.9% | -6.6% | |
| ROE | 1.1% | 1.2% | -0.92% | -3.9% | -0.21% | 9.0% | 2.2% | -0.68% | -8.2% | -25.2% | 7.7% | -34.3% | |
| ROIC | 0.83% | 1.2% | 0.52% | -0.23% | 0.26% | 28.2% | 3.0% | 1.8% | -0.60% | -3.0% | -0.48% | 2.5% |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.1 | 2.9 | 2.0 | 2.5 | 3.4 | 3.9 | 2.9 | 3.0 | 2.5 | 1.9 | 1.9 | 1.7 | |
| Quick Ratio | 2.3 | 1.5 | 0.7 | 0.8 | 2.0 | 2.4 | 1.4 | 1.5 | 2.1 | 1.5 | 1.4 | 1.3 | |
| Debt / Equity | 0.0 | 0.1 | 0.2 | 0.3 | 0.3 | 0.3 | 0.5 | 0.6 | 0.6 | 1.6 | 1.8 | 2.8 | |
| LT Debt / Equity | 0.0 | 0.1 | 0.2 | 0.3 | 0.3 | 0.3 | 0.5 | 0.6 | 0.6 | 1.6 | 1.7 | 2.8 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.6 | 0.7 | 0.6 | 0.5 | 0.5 | 0.7 | 0.6 | 0.8 | 0.7 | 0.6 | 0.7 | |
| Inventory Turnover | · | · | · | · | · | · | · | 9.3 | 10.3 | 9.1 | 9.5 | 9.0 | |
| Receivables Turnover | 9.5 | 9.2 | 8.8 | 9.0 | 8.6 | 8.3 | 9.6 | 8.9 | 3.0 | 3.1 | 3.1 | 3.4 |
Growth Rates 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 18.5% | 9.6% | 15.4% | 10.7% | 8.5% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 14.4% | 11.9% | 11.5% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 12.5% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 18.2% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | -28.0% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 35.0% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | -22.7% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.35B | $1.14B | $1.04B | $898M | $812M | $748M | $718M | $618M | $603M | $542M | $657M | $763M | |
| Net Income TTM | $22M | $16M | $-9M | $-37M | $-2M | $80M | $12M | $-4M | $-43M | $-60M | $20M | $-78M | |
| Market Cap | $13.12B | $4.01B | $2.62B | $1.19B | $2.46B | $3.25B | $1.89B | $1.43B | $1.09B | $555M | $246M | $295M | |
| Enterprise Value | $12.56B | $3.85B | $2.77B | $1.36B | $2.41B | $3.17B | $2.02B | $1.54B | $1.26B | $918M | $663M | $883M | |
| P/E | 597.7 | 241.1 | -289.9 | -32.6 | -992.0 | 39.4 | 161.5 | -458.3 | -22.1 | -7.6 | 12.2 | -3.8 | |
| P/S | 9.7 | 3.5 | 2.5 | 1.3 | 3.0 | 4.3 | 2.6 | 2.3 | 1.8 | 1.0 | 0.4 | 0.4 | |
| P/B | 6.6 | 3.0 | 2.7 | 1.3 | 2.6 | 3.5 | 3.3 | 2.7 | 2.1 | 2.0 | 1.0 | 1.3 | |
| P / Tangible Book | 9.7 | 5.5 | 7.6 | 3.7 | 6.0 | 8.2 | · | · | · | · | · | · | |
| P / Cash Flow | -311.7 | 80.6 | 40.2 | -46.5 | 69.7 | 72.7 | 65.6 | 78.8 | -40.5 | -44.8 | -8.3 | 38.3 | |
| P / FCF | -95.5 | -471.4 | 204.9 | -16.8 | · | · | · | · | · | · | · | · | |
| EV / EBITDA | 172.8 | 55.6 | 43.1 | 48.7 | 44.9 | 58.8 | 32.9 | 31.8 | 75.4 | 218.6 | 31.6 | 15.0 | |
| EV / FCF | -91.4 | -453.2 | 216.4 | -19.1 | · | · | · | · | · | · | · | · | |
| EV / Revenue | 9.3 | 3.4 | 2.7 | 1.5 | 3.0 | 4.2 | 2.8 | 2.5 | 2.1 | 1.7 | 1.0 | 1.2 | |
| Earnings Yield | 0.17% | 0.41% | -0.34% | -3.1% | -0.10% | 2.5% | 0.62% | -0.22% | -4.5% | -13.2% | 8.2% | -26.5% |
Income Statement 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $459M | $371M | $345M | $348M | $352M | $303M | $283M | $276M | $300M | $277M | $274M | $275M | $257M | $232M | $249M | $229M | |
| Cost of Revenue | $359M | $281M | $262M | $270M | $278M | $229M | $213M | $207M | $223M | $206M | $202M | $201M | $193M | $172M | $188M | $174M | |
| Gross Profit | $100M | $90M | $83M | $77M | $74M | $74M | $70M | $69M | $77M | $71M | $72M | $73M | $64M | $59M | $61M | $55M | |
| R&D Expense | $14M | $11M | $10M | $10M | $10M | $10M | $11M | $10M | $10M | $10M | $8M | $10M | $10M | $10M | $11M | $10M | |
| SG&A Expense | $87M | $72M | $64M | $60M | $60M | $57M | $56M | $53M | $54M | $54M | $53M | $51M | $47M | $48M | $46M | $48M | |
| Operating Income | $-2M | $5M | $8M | $7M | $4M | $7M | $3M | $6M | $12M | $7M | $12M | $12M | $7M | $500.0K | $4M | $-4M | |
| Other Non-op | $-2M | $600.0K | $500.0K | $200.0K | $2M | $-300.0K | $1M | $-700.0K | $100.0K | $-200.0K | $900.0K | $-300.0K | $200.0K | $-300.0K | $2M | $-1M | |
| Pretax Income | $7M | $10M | $12M | $12M | $5M | $5M | $4M | $6M | $13M | $4M | $8M | $7M | $2M | $-5M | $600.0K | $-9M | |
| Income Tax | $3M | $-2M | $6M | $3M | $2M | $900.0K | $100.0K | $3M | $5M | $3M | $2M | $4M | $2M | $700.0K | $5M | $-800.0K | |
| Net Income | $4M | $12M | $6M | $9M | $3M | $4M | $4M | $3M | $8M | $1M | $2M | $-2M | $-3M | $-7M | $-8M | $-8M | |
| EPS (Basic) | $0.02 | $0.07 | $0.04 | $0.05 | $0.02 | $0.03 | $0.03 | $0.02 | $0.05 | $0.01 | $0.01 | $-0.01 | $-0.02 | $-0.05 | $-0.07 | $-0.06 | |
| EPS (Diluted) | $0.02 | $0.07 | $0.03 | $0.05 | $0.02 | $0.03 | $0.03 | $0.02 | $0.05 | $0.01 | $0.01 | $-0.01 | $-0.02 | $-0.05 | $-0.07 | $-0.06 | |
| Shares (Basic) | 188,600,000 | 176,800,000 | -317,700,000 | 170,500,000 | 155,700,000 | 154,200,000 | -295,000,000 | 152,600,000 | 151,800,000 | 139,600,000 | -256,400,000 | 129,600,000 | 129,100,000 | 128,100,000 | -252,800,000 | 127,200,000 | |
| Shares (Diluted) | 190,100,000 | 179,400,000 | -321,300,000 | 172,900,000 | 157,400,000 | 156,200,000 | -298,200,000 | 154,100,000 | 153,500,000 | 141,500,000 | -256,400,000 | 129,600,000 | 129,100,000 | 128,100,000 | -252,800,000 | 127,200,000 | |
| EBITDA | $20M | $22M | · | $19M | $16M | $17M | · | $17M | $23M | $16M | · | $20M | $15M | · | · | $5M |
Balance Sheet 22
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.44B | $1.46B | $561M | $566M | $784M | $264M | $329M | $302M | $308M | $339M | · | $42M | $48M | $47M | · | $125M | |
| Receivables | $171M | $194M | $165M | $136M | $142M | $118M | $118M | $113M | $132M | $117M | · | $128M | $116M | $144M | · | $84M | |
| Prepaid Expense | $24M | $22M | $13M | $15M | $14M | $16M | $18M | $37M | $29M | $27M | · | $18M | $13M | $14M | · | $14M | |
| Other Current Assets | $82M | $69M | $44M | $53M | $54M | $46M | $39M | $22M | $21M | $20M | · | $42M | $43M | $39M | · | $40M | |
| Current Assets | $2.36B | $2.31B | $1.26B | $1.24B | $1.43B | $864M | $872M | $838M | $851M | $872M | · | $604M | $588M | $588M | · | $601M | |
| Goodwill | $871M | $884M | $596M | $595M | $599M | $597M | $569M | $569M | $569M | $569M | · | $558M | $558M | $558M | · | $552M | |
| Intangibles | $221M | $220M | $54M | $57M | $59M | $62M | $54M | $56M | $58M | $60M | · | $51M | $52M | $54M | · | $62M | |
| Other Non-current Assets | $159M | $162M | $144M | $150M | $147M | $139M | $130M | $129M | $123M | $120M | · | $100M | $98M | $97M | · | $94M | |
| Total Assets | $4.09B | $4.04B | $2.47B | $2.42B | $2.59B | $2.00B | $1.95B | $1.91B | $1.91B | $1.91B | · | $1.59B | $1.56B | $1.56B | · | $1.57B | |
| Accounts Payable | $105M | $112M | $70M | $66M | $98M | $83M | $82M | $61M | $59M | $62M | · | $57M | $58M | $55M | · | $54M | |
| Accrued Liabilities | $96M | $59M | $60M | $67M | $48M | $42M | $39M | $40M | $35M | $36M | · | $40M | $41M | $36M | · | $30M | |
| Current Liabilities | $425M | $411M | $311M | $287M | $322M | $305M | $297M | $260M | $272M | $288M | · | $263M | $251M | $245M | · | · | |
| Capital Leases | $40M | $35M | $34M | $33M | $32M | $33M | $30M | $32M | $34M | $35M | · | $43M | $41M | $40M | · | $35M | |
| Other Non-current Liabilities | $63M | $55M | $30M | $35M | $38M | $43M | $32M | $100M | $99M | $83M | · | $77M | $77M | $77M | · | $82M | |
| Total Liabilities | $663M | $633M | $471M | $442M | $626M | $617M | $598M | $570M | $585M | $586M | · | $618M | $602M | $614M | · | $625M | |
| Total Debt | · | · | · | $0 | $170M | $172M | · | $177M | $180M | $179M | · | $234M | $232M | · | · | $293M | |
| Common Stock | $200.0K | $200.0K | $200.0K | $200.0K | $200.0K | $200.0K | $200.0K | $200.0K | $200.0K | $200.0K | · | $0 | $0 | $0 | · | $0 | |
| Retained Earnings | $-626M | $-630M | $-642M | $-648M | $-656M | $-659M | $-664M | $-668M | $-671M | $-679M | · | $-683M | $-681M | $-678M | · | $-663M | |
| AOCI | $600.0K | $1M | $2M | $2M | $3M | $100.0K | $-500.0K | $300.0K | $2M | $2M | · | $2M | $3M | $-500.0K | · | $-4M | |
| Stockholders' Equity | $3.43B | $3.41B | $2.00B | $1.98B | $1.96B | $1.39B | $1.35B | $1.34B | $1.33B | $1.31B | · | $953M | $946M | $931M | $936M | $935M | |
| Liabilities + Equity | $4.09B | $4.04B | $2.47B | $2.42B | $2.59B | $2.00B | $1.95B | $1.91B | $1.91B | $1.91B | · | $1.59B | $1.56B | $1.56B | · | $1.57B | |
| Shares Outstanding | 187,557,916 | 187,392,912 | 168,875,032 | 168,838,631 | 168,555,887 | 153,349,134 | 151,092,292 | 151,015,662 | 150,729,318 | 150,020,266 | 129,300,000 | 128,072,596 | 127,641,905 | 126,678,288 | 126,000,000 | 125,947,889 |
Cash Flow 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $22M | $17M | $13M | $12M | $12M | $10M | $10M | $10M | $10M | $9M | $9M | $8M | $8M | $8M | $8M | $9M | |
| Stock-based Comp | $16M | $15M | $9M | $9M | $9M | $9M | $7M | $7M | $7M | $9M | $6M | $6M | $6M | $7M | $6M | $7M | |
| Deferred Tax | $900.0K | $1M | $8M | $-100.0K | $0 | $0 | $4M | $0 | · | · | $2M | $0 | · | · | $-3M | $-100.0K | |
| Amort. of Intangibles | $10M | $6M | $2M | $2M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $2M | $1M | $3M | |
| Other Non-cash | · | $-72M | · | · | · | $-53M | · | · | · | $-19M | · | · | · | · | · | · | |
| Operating Cash Flow | $-11M | $-27M | $12M | $-13M | $-12M | $-29M | $46M | $6M | $-3M | $700.0K | $67M | $-100.0K | $24M | $-26M | $7M | $-3M | |
| CapEx | $17M | $20M | $24M | $28M | $20M | $23M | $14M | $15M | $13M | $17M | $19M | $14M | $11M | $8M | $11M | $13M | |
| Investing Cash Flow | $-10M | $-365M | $-17M | $-28M | $-20M | $-23M | $-14M | $-15M | $-24M | $-17M | $-19M | $-14M | $-3M | $-8M | $-10M | $-13M | |
| Debt Issued | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | $0 | $0 | |
| Stock Issued | $-200.0K | $1.35B | $0 | $0 | $556M | $0 | $0 | $0 | $0 | $331M | $0 | $0 | $0 | $0 | · | · | |
| Net Stock Activity | · | $1.35B | · | · | · | $0 | · | · | · | $331M | · | · | · | · | · | · | |
| Financing Cash Flow | $-6M | $1.30B | $500.0K | $-176M | $551M | $-14M | $-3M | $2M | $-4M | $283M | $-19M | $9M | $-19M | $-1M | $-42M | $800.0K | |
| Net Change in Cash | $-27M | $904M | $-5M | $-218M | $520M | $-66M | $28M | $-7M | $-31M | $266M | $31M | $-6M | $2M | $-35M | $-44M | $-17M | |
| Free Cash Flow | · | $-47M | · | · | · | $-52M | · | · | · | $-16M | · | · | · | · | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.8% | 24.1% | · | 22.2% | 21.0% | 24.3% | · | 25.1% | 25.7% | 25.6% | · | 26.7% | 24.9% | · | · | 24.0% | |
| Operating Margin | -0.35% | 1.3% | · | 2.0% | 1.1% | 2.2% | · | 2.4% | 4.2% | 2.5% | · | 4.4% | 2.6% | · | · | -1.6% | |
| Net Margin | 0.96% | 3.2% | · | 2.5% | 0.83% | 1.5% | · | 1.2% | 2.6% | 0.47% | · | -0.58% | -1.1% | · | · | -3.5% | |
| Pretax Margin | 1.5% | 2.6% | · | 3.4% | 1.3% | 1.8% | · | 2.1% | 4.2% | 1.4% | · | 2.5% | 0.70% | · | · | -3.9% | |
| EBITDA Margin | 4.5% | 5.8% | · | 5.5% | 4.4% | 5.6% | · | 6.1% | 7.6% | 5.9% | · | 7.4% | 5.7% | · | · | 2.3% | |
| ROA | 0.13% | 0.39% | · | 0.40% | 0.13% | 0.23% | · | 0.18% | 0.45% | 0.07% | · | -0.10% | -0.17% | · | · | -0.51% | |
| ROE | 0.16% | 0.50% | · | 0.52% | 0.18% | 0.33% | · | 0.28% | 0.69% | 0.12% | · | -0.17% | -0.29% | · | · | -0.85% | |
| ROIC | -0.03% | 0.17% | · | 0.26% | 0.11% | 0.35% | · | 0.24% | 0.52% | 0.15% | · | 0.45% | -0.19% | · | · | -0.27% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.5 | 5.6 | · | 4.3 | 4.4 | 2.8 | · | 3.2 | 3.1 | 3.0 | · | 2.3 | 2.3 | · | · | · | |
| Quick Ratio | 3.8 | 4.0 | · | 2.4 | 2.9 | 1.3 | · | 1.6 | 1.6 | 1.6 | · | 0.6 | 0.7 | · | · | · | |
| Debt / Equity | · | · | · | 0.0 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.2 | 0.2 | · | · | 0.3 | |
| LT Debt / Equity | · | · | · | 0.0 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.2 | 0.2 | · | · | 0.3 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | · | · | 0.1 | |
| Receivables Turnover | 2.9 | 2.4 | · | 2.8 | 2.6 | 2.6 | · | 2.3 | 2.4 | 2.1 | · | 2.6 | 2.4 | · | · | 2.7 |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.53B | $1.37B | · | $1.28B | $1.23B | $1.16B | · | $1.13B | $1.11B | $1.04B | · | $992M | $942M | $881M | · | $850M | |
| Net Income TTM | $28M | $28M | · | $19M | $18M | $17M | · | $11M | $5M | $-10M | · | $-19M | $-22M | $-36M | · | $-31M | |
| Market Cap | $8.85B | $13.48B | · | $14.57B | $7.73B | $4.70B | · | $3.52B | $3.02B | $2.76B | · | $1.92B | $1.77B | · | · | $1.42B | |
| Enterprise Value | · | · | · | $14.00B | $7.11B | $4.61B | · | $3.39B | $2.89B | $2.60B | · | $2.12B | $1.95B | · | · | $1.58B | |
| P/E | 295.1 | 423.2 | · | 719.0 | 382.0 | 278.9 | · | 332.7 | 667.0 | -262.6 | · | -107.3 | -81.6 | -49.2 | · | -46.9 | |
| P/S | 5.8 | 9.8 | · | 11.4 | 6.3 | 4.1 | · | 3.1 | 2.7 | 2.6 | · | 1.9 | 1.9 | · | · | 1.7 | |
| P/B | 2.6 | 4.0 | · | 7.4 | 3.9 | 3.4 | · | 2.6 | 2.3 | 2.1 | · | 2.0 | 1.9 | · | · | 1.5 | |
| P / Tangible Book | 3.8 | 5.8 | · | 11.0 | 5.9 | 6.5 | · | 4.9 | 4.3 | 4.1 | · | 5.6 | 5.3 | 5.3 | · | 4.4 | |
| P / Cash Flow | · | -492.0 | · | · | · | -161.1 | · | · | · | 3939.1 | · | · | · | · | · | · | |
| P / FCF | · | -285.0 | · | · | · | -90.8 | · | · | · | -173.4 | · | · | · | · | · | · | |
| EV / EBITDA | · | · | · | 736.9 | 458.9 | 271.4 | · | 201.9 | 126.1 | 159.4 | · | 103.7 | 133.9 | · | · | 298.9 | |
| EV / FCF | · | · | · | · | · | -89.1 | · | · | · | -163.4 | · | · | · | · | · | · | |
| EV / Revenue | · | · | · | 11.0 | 5.8 | 4.0 | · | 3.0 | 2.6 | 2.5 | · | 2.1 | 2.1 | · | · | 1.9 | |
| Earnings Yield | 0.34% | 0.24% | · | 0.14% | 0.26% | 0.36% | · | 0.30% | 0.15% | -0.38% | · | -0.93% | -1.2% | -2.0% | · | -2.1% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-28 | 2024-12-29 | 2024-03-31 | 2023-12-31 | 2022-12-25 | |
|---|---|---|---|---|---|
| Revenue | $1.35B | $1.14B | — | $1.04B | $898M |
| Gross Margin % | 22.9% | 25.3% | — | 25.9% | 25.2% |
| Operating Margin % | 1.9% | 2.5% | — | 3.0% | -0.29% |
| Net Income | $22M | $16M | — | $-9M | $-37M |
| Diluted EPS | $0.13 | $0.11 | — | $-0.07 | $-0.29 |
Balance Sheet
| 2025-12-28 | 2024-12-29 | 2024-03-31 | 2023-12-31 | 2022-12-25 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.0 | 0.1 | — | 0.2 | 0.3 |
| Current Ratio | 4.1 | 2.9 | — | 2.0 | 2.5 |
| Quick Ratio | 2.3 | 1.5 | — | 0.7 | 0.8 |
Cash Flow
| 2025-12-28 | 2024-12-29 | 2024-03-31 | 2023-12-31 | 2022-12-25 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-137M | $-8M | — | $13M | $-71M |
Latest News Recent headlines mentioning this company
- Why Kratos Stock Dropped Again Today
- Which Drone Stock Will Dominate the Next War: AVAV, KTOS, or ONDS?
- Is Kratos Defense & Security Solutions (KTOS) One of the Best Upside Stocks to Buy According to Analysts?
- Is Kratos Defense & Security Solutions (KTOS) One of the Best Military Drone Stocks to Buy Right Now?
- Jefferies Analysts Think Kratos Defense Stock Can Gain 26%. Why?
- Monday's ETF with Unusual Volume: SMIZ
- Defense Stock Worth Watching for Bullish Options Traders
- Kratos (KTOS) Slashes 8.8% as Middle East Tensions Dent Broader Market Further
- Why Kratos Defense Stock Popped, Then Dropped
- Is Kratos Defense & Security Solutions, Inc. (KTOS) The Best Drone Stock To Buy For The Next 3 Years?
My Metrics Your personal watchlist — selected rows from Full Fundamentals
📊
Pick the metrics that matter to you — click the ➕ next to any row in Full Fundamentals above.
Your selection is saved and follows you across all tickers.
Institutional owners (13F) 704 filers · $5.6B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 118 (-34 vs prior Q) | 174 (+96 vs prior Q) | 244 (-49 vs prior Q) | 209 (+3 vs prior Q) | +5.7M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| STATE STREET CORP | $451,939,721 | 9,064,859 | 8.01% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $421,301,693 | 8,449,693 | 7.47% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $398,232,219 | 7,987,008 | 7.06% | Shares |
| FIRST TRUST ADVISORS LP | $299,961,399 | 6,016,073 | 5.32% | Shares |
| ARK Investment Management LLC | $232,974,116 | 4,672,566 | 4.13% | Shares |
| ALLIANCEBERNSTEIN L.P. | $157,268,747 | 2,230,446 | 2.79% | Shares |
| Hood River Capital Management LLC | $156,447,068 | 3,137,727 | 2.77% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $148,138,115 | 2,970,167 | 2.63% | Shares |
| VAN ECK ASSOCIATES CORP | $144,947,657 | 2,907,093 | 2.57% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $129,566,000 | 2,598,589 | 2.30% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $122,030,007 | 2,447,453 | 2.16% | Shares |
| Artisan Partners Limited Partnership | $117,670,190 | 2,360,012 | 2.09% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $107,851,767 | 2,163,092 | 1.91% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $94,792,436 | 1,901,172 | 1.68% | Shares |
| NORGES BANK | $94,202,542 | 1,889,341 | 1.67% | Shares |
| Rovida Investment Management Ltd | $88,452,175 | 1,773,655 | 1.57% | Shares |
| Stephens Investment Management Group LLC | $79,976,637 | 1,604,024 | 1.42% | Shares |
| Amova Asset Management Americas, Inc. | $71,090,134 | 1,425,509 | 1.26% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $71,075,879 | 1,425,509 | 1.26% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $70,357,346 | 1,411,098 | 1.25% | Shares |
| MILLENNIUM MANAGEMENT LLC | $64,627,684 | 1,296,183 | 1.15% | Shares |
| Clearbridge Investments, LLC | $64,377,199 | 1,291,159 | 1.14% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $59,324,226 | 1,189,816 | 1.05% | Shares |
| Alyeska Investment Group, L.P. | $57,840,342 | 1,160,055 | 1.03% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $57,648,132 | 1,156,200 | 1.02% | Put option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $54,601,686 | 1,095,100 | 0.97% | Call option |
| BAMCO INC /NY/ | $53,746,138 | 1,077,941 | 0.95% | Shares |
| AMERICAN CAPITAL MANAGEMENT INC | $51,338,499 | 1,029,653 | 0.91% | Shares |
| Cubist Systematic Strategies, LLC | $50,390,555 | 551,500 | 0.89% | Put option |
| GOLDMAN SACHS GROUP INC | $49,391,366 | 990,601 | 0.88% | Shares |
| RAYMOND JAMES FINANCIAL INC | $45,051,701 | 903,564 | 0.80% | Shares |
| JANE STREET GROUP, LLC | $44,609,742 | 894,700 | 0.79% | Put option |
| FMR LLC | $43,855,111 | 879,565 | 0.78% | Shares |
| JANE STREET GROUP, LLC | $42,231,420 | 847,000 | 0.75% | Call option |
| SEVEN GRAND MANAGERS, LLC | $37,395,000 | 750,000 | 0.66% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $36,816,928 | 738,406 | 0.65% | Shares |
| PARADIGM CAPITAL MANAGEMENT INC/NY | $34,842,168 | 698,800 | 0.62% | Shares |
| EMERALD ADVISERS, LLC | $34,761,445 | 697,181 | 0.62% | Shares |
| Cubist Systematic Strategies, LLC | $28,288,152 | 309,600 | 0.50% | Call option |
| TWO SIGMA INVESTMENTS, LP | $27,272,622 | 546,984 | 0.48% | Shares |
| CITADEL ADVISORS LLC | $26,021,934 | 521,900 | 0.46% | Put option |
| WOLVERINE TRADING, LLC | $25,446,312 | 288,900 | 0.45% | Call option |
| RHUMBLINE ADVISERS | $23,261,979 | 466,547 | 0.41% | Shares |
| TimesSquare Capital Management, LLC | $22,449,820 | 318,392 | 0.40% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $22,108,074 | 443,403 | 0.39% | Shares |
| EMERALD MUTUAL FUND ADVISERS TRUST | $22,095,559 | 443,152 | 0.39% | Shares |
| WESTWOOD HOLDINGS GROUP INC | $20,677,788 | 414,717 | 0.37% | Shares |
| Swiss National Bank | $18,752,346 | 376,100 | 0.33% | Shares |
| BlackRock, Inc. | $18,419,331 | 369,421 | 0.33% | Shares |
| Laurion Capital Management LP | $17,794,535 | 356,890 | 0.32% | Shares |
| BARCLAYS PLC | $17,451,000 | 350,000 | 0.31% | Call option |
| Squarepoint Ops LLC | $17,186,443 | 344,694 | 0.30% | Shares |
| Vident Advisory, LLC | $17,151,341 | 343,990 | 0.30% | Shares |
| PINNACLE ASSOCIATES LTD | $16,193,032 | 324,770 | 0.29% | Shares |
| AMERIPRISE FINANCIAL INC | $16,088,812 | 322,655 | 0.29% | Shares |
| Daiwa Securities Group Inc. | $15,434,811 | 309,563 | 0.27% | Shares |
| WOLVERINE TRADING, LLC | $15,299,496 | 173,700 | 0.27% | Put option |
| Y-Intercept (Hong Kong) Ltd | $14,685,366 | 294,532 | 0.26% | Shares |
| STEPHENS INC /AR/ | $14,296,059 | 286,724 | 0.25% | Shares |
| LPL Financial LLC | $13,838,095 | 277,539 | 0.25% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $13,824,543 | 196,065 | 0.25% | Shares |
| IQ EQ FUND MANAGEMENT (IRELAND) Ltd | $13,111,734 | 262,971 | 0.23% | Shares |
| CANTOR FITZGERALD, L. P. | $13,055,342 | 261,840 | 0.23% | Shares |
| NEUBERGER BERMAN GROUP LLC | $12,882,228 | 258,368 | 0.23% | Shares |
| Jain Global LLC | $12,470,983 | 250,120 | 0.22% | Shares |
| S SQUARED TECHNOLOGY, LLC | $12,438,824 | 249,475 | 0.22% | Shares |
| California Public Employees Retirement System | $12,280,767 | 246,305 | 0.22% | Shares |
| Balyasny Asset Management L.P. | $12,083,571 | 242,350 | 0.21% | Shares |
| LBP AM SA | $11,850,875 | 237,683 | 0.21% | Shares |
| Retirement Systems of Alabama | $11,673,971 | 234,135 | 0.21% | Shares |
| Champlain Investment Partners, LLC | $11,656,271 | 233,780 | 0.21% | Shares |
| Weiss Asset Management LP | $11,119,129 | 223,007 | 0.20% | Shares |
| XTX Topco Ltd | $10,725,534 | 215,113 | 0.19% | Shares |
| WCM INVESTMENT MANAGEMENT, LLC | $10,373,039 | 220,938 | 0.18% | Shares |
| JANE STREET GROUP, LLC | $9,988,753 | 200,336 | 0.18% | Shares |
| Ghisallo Capital Management LLC | $9,972,000 | 200,000 | 0.18% | Shares |
| GILDER GAGNON HOWE & CO LLC | $9,859,217 | 197,738 | 0.17% | Shares |
| TUDOR INVESTMENT CORP ET AL | $9,778,094 | 196,111 | 0.17% | Shares |
| Walleye Trading LLC | $8,680,626 | 174,100 | 0.15% | Put option |
| UBS Group AG | $8,565,449 | 171,790 | 0.15% | Shares |
| PEREGRINE CAPITAL MANAGEMENT LLC | $8,298,150 | 166,429 | 0.15% | Shares |
| Chevy Chase Trust Holdings, LLC | $8,232,034 | 165,103 | 0.15% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $7,994,203 | 160,333 | 0.14% | Shares |
| Clear Street Group Inc. | $7,786,786 | 156,173 | 0.14% | Shares |
| CITADEL ADVISORS LLC | $7,685,121 | 154,134 | 0.14% | Shares |
| ESSEX INVESTMENT MANAGEMENT CO LLC | $7,657,299 | 153,576 | 0.14% | Shares |
| Walleye Trading LLC | $7,578,720 | 152,000 | 0.13% | Call option |
| MILLENNIUM MANAGEMENT LLC | $7,439,112 | 149,200 | 0.13% | Put option |
| BARCLAYS PLC | $7,258,269 | 145,573 | 0.13% | Shares |
| Zweig-DiMenna Associates LLC | $7,131,276 | 143,026 | 0.13% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $7,055,240 | 141,501 | 0.13% | Shares |
| Sequoia Financial Advisors, LLC | $7,023,081 | 140,856 | 0.12% | Shares |
| EFG Asset Management (North America) Corp. | $6,890,772 | 75,412 | 0.12% | Shares |
| Qube Research & Technologies Ltd | $6,783,004 | 136,041 | 0.12% | Shares |
| BANK OF AMERICA CORP /DE/ | $6,718,835 | 134,754 | 0.12% | Shares |
| Advisors Capital Management, LLC | $6,464,280 | 129,648 | 0.11% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $6,441,463 | 129,191 | 0.11% | Shares |
| Catalyst Funds Management Pty Ltd | $6,436,976 | 129,101 | 0.11% | Shares |
| CANTOR FITZGERALD, L. P. | $6,232,500 | 125,000 | 0.11% | Put option |
| SILVERCREST ASSET MANAGEMENT GROUP LLC | $6,074,494 | 121,831 | 0.11% | Shares |
Company insiders 33 insiders · 11 officers · 5 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Steven S. Fendley | President, US Division | July 27, 2026 S | 295,120 | 0 | 4 | $-2,603,235 |
| Phillip D Carrai | President, STC Division | July 15, 2026 S | 208,624 | 0 | 8 | $-704,444 |
| Stacey G Rock | President, KTT Division | June 30, 2026 S | 9,600 | 0 | 41 | $-5,518,898 |
| Thomas E Mills IV | President, C5ISR Division | March 4, 2026 F | 12,730 | 0 | 16 | $-1,695,253 |
| David Robin Mickle | President, Govt. Services Div. | Jan. 30, 2007 A | — | 0 | 0 | $0 |
| Marie Mendoza | SVP & General Counsel | July 15, 2026 S | 63,666 | 0 | 4 | $-139,352 |
| Laura Siegal | VP, Corp. Controller & Treas. | Jan. 4, 2013 A | — | 0 | 0 | $0 |
| Edward M Lake | Corporate Vice President | Jan. 4, 2010 M | 5,688 | 0 | 0 | $0 |
| James R Edwards | Sr. VP, Gen. Counsel & Sec. | March 26, 2007 A | 100 | 0 | 0 | $0 |
| Carol Clay | Vice President | Aug. 9, 2005 A | — | 0 | 0 | $0 |
| Rochelle R Bold | Senior Vice President | Aug. 9, 2005 A | 15,000 | 0 | 0 | $0 |
| William A Hoglund | Director | May 12, 2026 A | 252,500 | 0 | 4 | $-7,747,567 |
| JARVIS SCOT | Director | May 12, 2026 A | 75,123 | 0 | 8 | $-3,319,143 |
| Bandel L Carano | Director | Aug. 7, 2018 P | 616,098 | 0 | 0 | $0 |
| Masood Tayebi | Director | Jan. 26, 2007 X | 6,091,529 | 0 | 0 | $0 |
| Andrew M Leitch | Director | Jan. 3, 2006 A | — | 0 | 0 | $0 |
| Massih Tayebi | 10% owner | Jan. 3, 2003 J | — | 0 | 0 | $0 |
| Eric M Demarco | — | Aug. 14, 2026 S | 761,632 | 0 | 17 | $-82,680,276 |
| David M Carter | — | Aug. 5, 2026 S | 62,237 | 0 | 7 | $-506,769 |
| Deanna H Lund | — | Aug. 3, 2026 S | 280,487 | 0 | 59 | $-8,074,479 |
| Scott I Anderson | — | May 12, 2026 A | 51,334 | 0 | 10 | $-2,742,564 |
| Ben Goodwin | — | March 13, 2025 F | 52,466 | 0 | 0 | $0 |
| Richard Poirier | — | July 1, 2015 M | 81,705 | 0 | 0 | $0 |
| Amy Zegart | — | Jan. 1, 2015 A | — | 0 | 0 | $0 |
| Jane Elizabeth Judd | — | Jan. 1, 2015 A | — | 0 | 0 | $0 |
| Samuel N Liberatore | — | Jan. 1, 2015 A | — | 0 | 0 | $0 |
| Richard B Selvaggio | — | Jan. 4, 2013 A | — | 0 | 0 | $0 |
| Howard W. Bates | — | Jan. 2, 2009 A | 403,014 | 0 | 0 | $0 |
| Farzad Ghassemi | — | Nov. 3, 2003 M | 0 | 0 | 0 | $0 |
| Frankie Farjood | — | Nov. 3, 2003 M | 0 | 0 | 0 | $0 |
| Terry Ashwill | — | Nov. 3, 2003 M | 0 | 0 | 0 | $0 |
| Greg Jacobsen | — | Aug. 11, 2003 M | 0 | 0 | 0 | $0 |
| David Garrison | — | Aug. 7, 2003 M | 500 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 6 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Oak Investment Partners IX, Limited Partnership, Oak Associates IX, LLC, Oak IX Affiliates Fund – A, Limited Partnership, Oak IX Affiliates Fund, Limited Partnership, Oak IX Affiliates, LLC, Oak Investment Partners X, Limited Partnership, Oak Associates X, LLC, Oak X Affiliates Fund, Limited Partnership, Oak X Affiliates, LLC, Oak Investment Partners XIII, Limited Partnership, Oak Associates XIII, LLC, Oak Management Corporation, Bandel L. Carano, Edward F. Glassmeyer, Frederic W. Harman, Ann H. Lamont ×3 filings | Aug. 6, 2019 | — | Initial filing | — | SEC |
| MMI Investments, L.P., MMI Plus, L.P., MCM Capital Management, LLC, Clay B. Lifflander ×7 filings | Dec. 1, 2011 | — | Initial filing | — | SEC |
| Kratos Defense & Security Solutions, Inc. | May 24, 2011 | — | Initial filing | M&A / sale | SEC |
| Integral Systems, Inc. | May 24, 2011 | — | Initial filing | M&A / sale | SEC |
| HENRY BROS. ELECTRONICS, INC. ×2 filings | Oct. 15, 2010 | — | Initial filing | M&A / sale | SEC |
| Charles Tomas ×2 filings | April 16, 2010 | — | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 98 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| ARKX · ARK ETF Trust | 5.45% | 771,660 NS | April 30, 2026 | N-PORT |
| ARKQ · ARK ETF Trust | 5.08% | 1,697,922 NS | April 30, 2026 | N-PORT |
| SHLD · Global X Funds | 1.81% | 2,258,626 NS | May 31, 2026 | N-PORT |
| SPIT · RBB Fund, Inc. | 1.65% | 7,505 NS | April 30, 2026 | N-PORT |
| AGIQ · Tidal Trust I | 1.17% | 2,075 NS | May 31, 2026 | N-PORT |
| ARKK · ARK ETF Trust | 1.05% | 1,080,866 NS | April 30, 2026 | N-PORT |
| FFND · Northern Lights Fund Trust II | 1.02% | 16,308 NS | May 31, 2026 | N-PORT |
| PAMC · Pacer Funds Trust | 0.99% | 9,914 NS | April 30, 2026 | N-PORT |
| SAWS · ETF Series Solutions | 0.70% | 785 NS | April 30, 2026 | N-PORT |
| DFEN · Direxion Shares ETF Trust | 0.69% | 40,225 NS | April 30, 2026 | N-PORT |
| HFGO · Hartford Funds Exchange-Traded Trust | 0.51% | 14,798 NS | April 30, 2026 | N-PORT |
| MMSC · First Trust Exchange-Traded Fund VI… | 0.50% | 4,077 NS | May 31, 2026 | N-PORT |
| NUSC · Nushares ETF Trust | 0.41% | 82,875 NS | April 30, 2026 | N-PORT |
| RSSL · Global X Funds | 0.35% | 78,408 NS | April 30, 2026 | N-PORT |
| PTMC · Pacer Funds Trust | 0.34% | 21,180 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.29% | 8,517 NS | May 31, 2026 | N-PORT |
| FSCC · Federated Hermes ETF Trust | 0.29% | 12,341 NS | May 31, 2026 | N-PORT |
| BKMC · BNY Mellon ETF Trust | 0.27% | 26,701 NS | April 30, 2026 | N-PORT |
| MVV · ProShares Trust | 0.26% | 6,380 NS | May 31, 2026 | N-PORT |
| FDMO · FIDELITY COVINGTON TRUST | 0.25% | 33,457 NS | April 30, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.23% | 3,058 NS | April 30, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.23% | 73,473 NS | April 30, 2026 | N-PORT |
| SCHM · SCHWAB STRATEGIC TRUST | 0.22% | 499,691 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.19% | 426,345 NS | April 30, 2026 | N-PORT |
| GINN · Goldman Sachs ETF Trust | 0.19% | 6,145 NS | May 31, 2026 | N-PORT |
| UMDD · ProShares Trust | 0.18% | 891 NS | May 31, 2026 | N-PORT |
| ANEW · ProShares Trust | 0.18% | 214 NS | May 31, 2026 | N-PORT |
| FSMD · FIDELITY COVINGTON TRUST | 0.18% | 66,676 NS | April 30, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.17% | 26,807 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.17% | 6,661 NS | May 31, 2026 | N-PORT |
| FIDU · FIDELITY COVINGTON TRUST | 0.15% | 50,216 NS | April 30, 2026 | N-PORT |
| TRFM · ETF Series Solutions | 0.14% | 3,460 NS | April 30, 2026 | N-PORT |
| FTC · First Trust Exchange-Traded AlphaDE… | 0.14% | 27,877 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.12% | 6,740 NS | May 31, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.07% | 5,284 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.06% | 7,061 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.05% | 169 NS | May 31, 2026 | N-PORT |
| FNDA · SCHWAB STRATEGIC TRUST | 0.05% | 67,826 NS | May 31, 2026 | N-PORT |
| SCHV · SCHWAB STRATEGIC TRUST | 0.04% | 92,830 NS | May 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.04% | 267,898 NS | April 30, 2026 | N-PORT |
| DFUV · Dimensional ETF Trust | 0.04% | 86,394 NS | April 30, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.03% | 9,416 NS | April 30, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.03% | 43,958 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.03% | 11,960 NS | April 30, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.02% | 39,220 NS | April 30, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.02% | 6,006 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.02% | 56,087 NS | April 30, 2026 | N-PORT |
| SCHX · SCHWAB STRATEGIC TRUST | 0.02% | 195,702 NS | May 31, 2026 | N-PORT |
| GUSA · Goldman Sachs ETF Trust II | 0.02% | 6,202 NS | May 31, 2026 | N-PORT |
| SCHK · SCHWAB STRATEGIC TRUST | 0.02% | 14,779 NS | May 31, 2026 | N-PORT |