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Side-by-side financial comparison of Karman Holdings Inc. (KRMN) and OFG BANCORP (OFG). Click either name above to swap in a different company.
OFG BANCORP is the larger business by last-quarter revenue ($184.3M vs $134.5M, roughly 1.4× Karman Holdings Inc.). OFG BANCORP runs the higher net margin — 30.3% vs 5.7%, a 24.6% gap on every dollar of revenue. On growth, Karman Holdings Inc. posted the faster year-over-year revenue change (47.4% vs 0.9%). OFG BANCORP produced more free cash flow last quarter ($199.3M vs $4.0M). Over the past eight quarters, Karman Holdings Inc.'s revenue compounded faster (27.3% CAGR vs 2.8%).
Karman Holdings is an American fabricator of space and defense systems based in Huntington Beach, California. The company, which is valued at approximately US$4 billion, recently underwent an initial public offering.
OFG Bancorp, founded in 1964, is the financial holding company for Oriental Bank, located in San Juan, Puerto Rico. OFG offers a wide range of retail and commercial banking, lending and wealth management products, services and technology, primarily in Puerto Rico and the U.S. Virgin Islands through its principal subsidiaries: Oriental Bank, Oriental Financial Services LLC, and Oriental Insurance LLC. Its headquarters are located at Oriental Center, 254 Muñoz Rivera Avenue, San Juan, PR 00918....
KRMN vs OFG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $134.5M | $184.3M |
| Net Profit | $7.7M | $55.9M |
| Gross Margin | 39.9% | — |
| Operating Margin | 15.7% | 25.7% |
| Net Margin | 5.7% | 30.3% |
| Revenue YoY | 47.4% | 0.9% |
| Net Profit YoY | 358.3% | 11.0% |
| EPS (diluted) | $0.06 | $1.27 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $134.5M | $184.3M | ||
| Q3 25 | $121.8M | $186.2M | ||
| Q2 25 | $115.1M | $182.4M | ||
| Q1 25 | $100.1M | $178.6M | ||
| Q4 24 | $91.2M | $182.7M | ||
| Q3 24 | $86.0M | $174.7M | ||
| Q2 24 | $85.0M | $179.8M | ||
| Q1 24 | $83.0M | $174.4M |
| Q4 25 | $7.7M | $55.9M | ||
| Q3 25 | $7.6M | $51.8M | ||
| Q2 25 | $6.8M | $51.8M | ||
| Q1 25 | $-4.8M | $45.6M | ||
| Q4 24 | $1.7M | $50.3M | ||
| Q3 24 | $4.3M | $47.0M | ||
| Q2 24 | $4.6M | $51.1M | ||
| Q1 24 | $2.1M | $49.7M |
| Q4 25 | 39.9% | — | ||
| Q3 25 | 41.0% | — | ||
| Q2 25 | 40.9% | — | ||
| Q1 25 | 39.4% | — | ||
| Q4 24 | 38.1% | — | ||
| Q3 24 | 39.3% | — | ||
| Q2 24 | 40.7% | — | ||
| Q1 24 | 34.9% | — |
| Q4 25 | 15.7% | 25.7% | ||
| Q3 25 | 17.9% | 33.0% | ||
| Q2 25 | 17.5% | 36.1% | ||
| Q1 25 | 10.0% | 33.3% | ||
| Q4 24 | 15.8% | 28.9% | ||
| Q3 24 | 20.2% | 35.4% | ||
| Q2 24 | 21.5% | 39.6% | ||
| Q1 24 | 16.3% | 38.9% |
| Q4 25 | 5.7% | 30.3% | ||
| Q3 25 | 6.3% | 27.8% | ||
| Q2 25 | 5.9% | 28.4% | ||
| Q1 25 | -4.8% | 25.5% | ||
| Q4 24 | 1.8% | 27.6% | ||
| Q3 24 | 5.0% | 26.9% | ||
| Q2 24 | 5.4% | 28.4% | ||
| Q1 24 | 2.6% | 28.5% |
| Q4 25 | $0.06 | $1.27 | ||
| Q3 25 | $0.06 | $1.16 | ||
| Q2 25 | $0.05 | $1.15 | ||
| Q1 25 | $-0.04 | $1.00 | ||
| Q4 24 | $0.01 | $1.10 | ||
| Q3 24 | $0.03 | $1.00 | ||
| Q2 24 | $0.03 | $1.08 | ||
| Q1 24 | $0.01 | $1.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $34.0M | $1.0B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $382.7M | $1.4B |
| Total Assets | $1.1B | $12.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $34.0M | $1.0B | ||
| Q3 25 | $18.7M | $740.3M | ||
| Q2 25 | $27.4M | $851.8M | ||
| Q1 25 | $113.7M | $710.6M | ||
| Q4 24 | $11.5M | $591.1M | ||
| Q3 24 | — | $680.6M | ||
| Q2 24 | — | $740.4M | ||
| Q1 24 | — | $754.4M |
| Q4 25 | $382.7M | $1.4B | ||
| Q3 25 | $369.1M | $1.4B | ||
| Q2 25 | $361.5M | $1.3B | ||
| Q1 25 | $348.9M | $1.3B | ||
| Q4 24 | $196.0M | $1.3B | ||
| Q3 24 | $194.1M | $1.3B | ||
| Q2 24 | $189.6M | $1.2B | ||
| Q1 24 | $184.8M | $1.2B |
| Q4 25 | $1.1B | $12.5B | ||
| Q3 25 | $968.1M | $12.2B | ||
| Q2 25 | $953.9M | $12.2B | ||
| Q1 25 | $875.4M | $11.7B | ||
| Q4 24 | $774.0M | $11.5B | ||
| Q3 24 | — | $11.5B | ||
| Q2 24 | — | $11.3B | ||
| Q1 24 | — | $11.2B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $8.7M | $217.7M |
| Free Cash FlowOCF − Capex | $4.0M | $199.3M |
| FCF MarginFCF / Revenue | 3.0% | 108.1% |
| Capex IntensityCapex / Revenue | 3.5% | 10.0% |
| Cash ConversionOCF / Net Profit | 1.13× | 3.90× |
| TTM Free Cash FlowTrailing 4 quarters | $-42.5M | $345.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.7M | $217.7M | ||
| Q3 25 | $131.0K | $39.5M | ||
| Q2 25 | $-17.4M | $35.9M | ||
| Q1 25 | $-13.6M | $83.1M | ||
| Q4 24 | — | $252.5M | ||
| Q3 24 | — | $58.1M | ||
| Q2 24 | — | $95.1M | ||
| Q1 24 | $3.1M | $61.0M |
| Q4 25 | $4.0M | $199.3M | ||
| Q3 25 | $-6.8M | $35.5M | ||
| Q2 25 | $-21.0M | $31.8M | ||
| Q1 25 | $-18.6M | $78.7M | ||
| Q4 24 | — | $231.2M | ||
| Q3 24 | — | $51.8M | ||
| Q2 24 | — | $90.4M | ||
| Q1 24 | $1.5M | $54.8M |
| Q4 25 | 3.0% | 108.1% | ||
| Q3 25 | -5.6% | 19.1% | ||
| Q2 25 | -18.2% | 17.4% | ||
| Q1 25 | -18.6% | 44.1% | ||
| Q4 24 | — | 126.5% | ||
| Q3 24 | — | 29.6% | ||
| Q2 24 | — | 50.3% | ||
| Q1 24 | 1.8% | 31.4% |
| Q4 25 | 3.5% | 10.0% | ||
| Q3 25 | 5.7% | 2.1% | ||
| Q2 25 | 3.2% | 2.3% | ||
| Q1 25 | 5.0% | 2.4% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | — | 3.6% | ||
| Q2 24 | — | 2.6% | ||
| Q1 24 | 1.9% | 3.5% |
| Q4 25 | 1.13× | 3.90× | ||
| Q3 25 | 0.02× | 0.76× | ||
| Q2 25 | -2.55× | 0.69× | ||
| Q1 25 | — | 1.82× | ||
| Q4 24 | — | 5.02× | ||
| Q3 24 | — | 1.24× | ||
| Q2 24 | — | 1.86× | ||
| Q1 24 | 1.45× | 1.23× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KRMN
| Tactical Missile And Integrated Defense Systems | $50.5M | 38% |
| Hypersonic And Strategic Missile Defense | $48.4M | 36% |
| Space And Launch | $35.7M | 27% |
OFG
Segment breakdown not available.
