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Side-by-side financial comparison of Karman Holdings Inc. (KRMN) and PARK NATIONAL CORP (PRK). Click either name above to swap in a different company.
PARK NATIONAL CORP is the larger business by last-quarter revenue ($168.3M vs $134.5M, roughly 1.3× Karman Holdings Inc.). PARK NATIONAL CORP runs the higher net margin — 25.3% vs 5.7%, a 19.6% gap on every dollar of revenue. On growth, Karman Holdings Inc. posted the faster year-over-year revenue change (47.4% vs 2.2%). PARK NATIONAL CORP produced more free cash flow last quarter ($191.9M vs $4.0M). Over the past eight quarters, Karman Holdings Inc.'s revenue compounded faster (27.3% CAGR vs 4.9%).
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.
National Retail Systems, Inc. (NRS) includes Keystone Freight Corp. & National Retail Transportation, Inc. (NRT). NRS is an asset based 3PL founded in 1952. It is headquartered in Lyndhurst, New Jersey, United States.
KRMN vs PRK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $134.5M | $168.3M |
| Net Profit | $7.7M | $42.6M |
| Gross Margin | 39.9% | — |
| Operating Margin | 15.7% | — |
| Net Margin | 5.7% | 25.3% |
| Revenue YoY | 47.4% | 2.2% |
| Net Profit YoY | 358.3% | 10.4% |
| EPS (diluted) | $0.06 | $2.62 |
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 | $168.3M | ||
| Q3 25 | $121.8M | $169.5M | ||
| Q2 25 | $115.1M | $168.7M | ||
| Q1 25 | $100.1M | $157.9M | ||
| Q4 24 | $91.2M | $164.7M | ||
| Q3 24 | $86.0M | $170.3M | ||
| Q2 24 | $85.0M | $157.7M | ||
| Q1 24 | $83.0M | $152.8M |
| Q4 25 | $7.7M | $42.6M | ||
| Q3 25 | $7.6M | $47.2M | ||
| Q2 25 | $6.8M | $48.1M | ||
| Q1 25 | $-4.8M | $42.2M | ||
| Q4 24 | $1.7M | $38.6M | ||
| Q3 24 | $4.3M | $38.2M | ||
| Q2 24 | $4.6M | $39.4M | ||
| Q1 24 | $2.1M | $35.2M |
| 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% | — | ||
| Q3 25 | 17.9% | 34.3% | ||
| Q2 25 | 17.5% | 35.2% | ||
| Q1 25 | 10.0% | 32.4% | ||
| Q4 24 | 15.8% | — | ||
| Q3 24 | 20.2% | 27.4% | ||
| Q2 24 | 21.5% | 30.6% | ||
| Q1 24 | 16.3% | 27.8% |
| Q4 25 | 5.7% | 25.3% | ||
| Q3 25 | 6.3% | 27.8% | ||
| Q2 25 | 5.9% | 28.5% | ||
| Q1 25 | -4.8% | 26.7% | ||
| Q4 24 | 1.8% | 23.5% | ||
| Q3 24 | 5.0% | 22.4% | ||
| Q2 24 | 5.4% | 25.0% | ||
| Q1 24 | 2.6% | 23.0% |
| Q4 25 | $0.06 | $2.62 | ||
| Q3 25 | $0.06 | $2.92 | ||
| Q2 25 | $0.05 | $2.97 | ||
| Q1 25 | $-0.04 | $2.60 | ||
| Q4 24 | $0.01 | $2.38 | ||
| Q3 24 | $0.03 | $2.35 | ||
| Q2 24 | $0.03 | $2.42 | ||
| Q1 24 | $0.01 | $2.17 |
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 | $233.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $382.7M | $1.4B |
| Total Assets | $1.1B | $9.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $34.0M | $233.5M | ||
| Q3 25 | $18.7M | $218.9M | ||
| Q2 25 | $27.4M | $193.1M | ||
| Q1 25 | $113.7M | $237.6M | ||
| Q4 24 | $11.5M | $160.6M | ||
| Q3 24 | — | $201.7M | ||
| Q2 24 | — | $261.5M | ||
| Q1 24 | — | $306.1M |
| Q4 25 | $382.7M | $1.4B | ||
| Q3 25 | $369.1M | $1.3B | ||
| Q2 25 | $361.5M | $1.3B | ||
| Q1 25 | $348.9M | $1.3B | ||
| Q4 24 | $196.0M | $1.2B | ||
| Q3 24 | $194.1M | $1.2B | ||
| Q2 24 | $189.6M | $1.2B | ||
| Q1 24 | $184.8M | $1.2B |
| Q4 25 | $1.1B | $9.8B | ||
| Q3 25 | $968.1M | $9.9B | ||
| Q2 25 | $953.9M | $9.9B | ||
| Q1 25 | $875.4M | $9.9B | ||
| Q4 24 | $774.0M | $9.8B | ||
| Q3 24 | — | $9.9B | ||
| Q2 24 | — | $9.9B | ||
| Q1 24 | — | $9.9B |
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 | $198.3M |
| Free Cash FlowOCF − Capex | $4.0M | $191.9M |
| FCF MarginFCF / Revenue | 3.0% | 114.1% |
| Capex IntensityCapex / Revenue | 3.5% | 3.8% |
| Cash ConversionOCF / Net Profit | 1.13× | 4.65× |
| TTM Free Cash FlowTrailing 4 quarters | $-42.5M | $328.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.7M | $198.3M | ||
| Q3 25 | $131.0K | $52.6M | ||
| Q2 25 | $-17.4M | $49.7M | ||
| Q1 25 | $-13.6M | $37.9M | ||
| Q4 24 | — | $178.8M | ||
| Q3 24 | — | $43.8M | ||
| Q2 24 | — | $50.9M | ||
| Q1 24 | $3.1M | $35.0M |
| Q4 25 | $4.0M | $191.9M | ||
| Q3 25 | $-6.8M | $51.1M | ||
| Q2 25 | $-21.0M | $48.4M | ||
| Q1 25 | $-18.6M | $36.8M | ||
| Q4 24 | — | $169.7M | ||
| Q3 24 | — | $41.7M | ||
| Q2 24 | — | $49.0M | ||
| Q1 24 | $1.5M | $31.9M |
| Q4 25 | 3.0% | 114.1% | ||
| Q3 25 | -5.6% | 30.1% | ||
| Q2 25 | -18.2% | 28.7% | ||
| Q1 25 | -18.6% | 23.3% | ||
| Q4 24 | — | 103.0% | ||
| Q3 24 | — | 24.5% | ||
| Q2 24 | — | 31.1% | ||
| Q1 24 | 1.8% | 20.8% |
| Q4 25 | 3.5% | 3.8% | ||
| Q3 25 | 5.7% | 0.9% | ||
| Q2 25 | 3.2% | 0.8% | ||
| Q1 25 | 5.0% | 0.7% | ||
| Q4 24 | — | 5.6% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | 1.9% | 2.1% |
| Q4 25 | 1.13× | 4.65× | ||
| Q3 25 | 0.02× | 1.11× | ||
| Q2 25 | -2.55× | 1.03× | ||
| Q1 25 | — | 0.90× | ||
| Q4 24 | — | 4.63× | ||
| Q3 24 | — | 1.14× | ||
| Q2 24 | — | 1.29× | ||
| Q1 24 | 1.45× | 0.99× |
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% |
PRK
Segment breakdown not available.
