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Side-by-side financial comparison of Karman Holdings Inc. (KRMN) and ROGERS CORP (ROG). Click either name above to swap in a different company.
ROGERS CORP is the larger business by last-quarter revenue ($200.5M vs $134.5M, roughly 1.5× Karman Holdings Inc.). Karman Holdings Inc. runs the higher net margin — 5.7% vs 2.2%, a 3.5% gap on every dollar of revenue. On growth, Karman Holdings Inc. posted the faster year-over-year revenue change (47.4% vs 5.2%). Karman Holdings Inc. produced more free cash flow last quarter ($4.0M vs $1.1M). Over the past eight quarters, Karman Holdings Inc.'s revenue compounded faster (27.3% CAGR vs -3.3%).
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.
Rogers Corporation is a specialty engineered materials company headquartered in Chandler, Arizona.
KRMN vs ROG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $134.5M | $200.5M |
| Net Profit | $7.7M | $4.5M |
| Gross Margin | 39.9% | 32.2% |
| Operating Margin | 15.7% | — |
| Net Margin | 5.7% | 2.2% |
| Revenue YoY | 47.4% | 5.2% |
| Net Profit YoY | 358.3% | 421.4% |
| EPS (diluted) | $0.06 | $0.25 |
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.
| Q1 26 | — | $200.5M | ||
| Q4 25 | $134.5M | $201.5M | ||
| Q3 25 | $121.8M | $216.0M | ||
| Q2 25 | $115.1M | $202.8M | ||
| Q1 25 | $100.1M | $190.5M | ||
| Q4 24 | $91.2M | $192.2M | ||
| Q3 24 | $86.0M | $210.3M | ||
| Q2 24 | $85.0M | $214.2M |
| Q1 26 | — | $4.5M | ||
| Q4 25 | $7.7M | $4.6M | ||
| Q3 25 | $7.6M | $8.6M | ||
| Q2 25 | $6.8M | $-73.6M | ||
| Q1 25 | $-4.8M | $-1.4M | ||
| Q4 24 | $1.7M | $-500.0K | ||
| Q3 24 | $4.3M | $10.7M | ||
| Q2 24 | $4.6M | $8.1M |
| Q1 26 | — | 32.2% | ||
| Q4 25 | 39.9% | 31.5% | ||
| Q3 25 | 41.0% | 33.5% | ||
| Q2 25 | 40.9% | 31.6% | ||
| Q1 25 | 39.4% | 29.9% | ||
| Q4 24 | 38.1% | 32.1% | ||
| Q3 24 | 39.3% | 35.2% | ||
| Q2 24 | 40.7% | 34.1% |
| Q1 26 | — | — | ||
| Q4 25 | 15.7% | 3.5% | ||
| Q3 25 | 17.9% | 7.3% | ||
| Q2 25 | 17.5% | -33.3% | ||
| Q1 25 | 10.0% | -0.2% | ||
| Q4 24 | 15.8% | -6.6% | ||
| Q3 24 | 20.2% | 6.9% | ||
| Q2 24 | 21.5% | 5.3% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 5.7% | 2.3% | ||
| Q3 25 | 6.3% | 4.0% | ||
| Q2 25 | 5.9% | -36.3% | ||
| Q1 25 | -4.8% | -0.7% | ||
| Q4 24 | 1.8% | -0.3% | ||
| Q3 24 | 5.0% | 5.1% | ||
| Q2 24 | 5.4% | 3.8% |
| Q1 26 | — | $0.25 | ||
| Q4 25 | $0.06 | $0.20 | ||
| Q3 25 | $0.06 | $0.48 | ||
| Q2 25 | $0.05 | $-4.00 | ||
| Q1 25 | $-0.04 | $-0.08 | ||
| Q4 24 | $0.01 | $-0.04 | ||
| Q3 24 | $0.03 | $0.58 | ||
| Q2 24 | $0.03 | $0.44 |
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 | $195.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $382.7M | $1.2B |
| Total Assets | $1.1B | $1.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $195.8M | ||
| Q4 25 | $34.0M | $197.0M | ||
| Q3 25 | $18.7M | $167.8M | ||
| Q2 25 | $27.4M | $157.2M | ||
| Q1 25 | $113.7M | $175.6M | ||
| Q4 24 | $11.5M | $159.8M | ||
| Q3 24 | — | $146.4M | ||
| Q2 24 | — | $119.9M |
| Q1 26 | — | $1.2B | ||
| Q4 25 | $382.7M | $1.2B | ||
| Q3 25 | $369.1M | $1.2B | ||
| Q2 25 | $361.5M | $1.2B | ||
| Q1 25 | $348.9M | $1.3B | ||
| Q4 24 | $196.0M | $1.3B | ||
| Q3 24 | $194.1M | $1.3B | ||
| Q2 24 | $189.6M | $1.3B |
| Q1 26 | — | $1.4B | ||
| Q4 25 | $1.1B | $1.4B | ||
| Q3 25 | $968.1M | $1.4B | ||
| Q2 25 | $953.9M | $1.5B | ||
| Q1 25 | $875.4M | $1.5B | ||
| Q4 24 | $774.0M | $1.5B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.5B |
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 | $5.8M |
| Free Cash FlowOCF − Capex | $4.0M | $1.1M |
| FCF MarginFCF / Revenue | 3.0% | 0.5% |
| Capex IntensityCapex / Revenue | 3.5% | 2.3% |
| Cash ConversionOCF / Net Profit | 1.13× | 1.29× |
| TTM Free Cash FlowTrailing 4 quarters | $-42.5M | $70.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $5.8M | ||
| Q4 25 | $8.7M | $46.9M | ||
| Q3 25 | $131.0K | $28.9M | ||
| Q2 25 | $-17.4M | $13.7M | ||
| Q1 25 | $-13.6M | $11.7M | ||
| Q4 24 | — | $33.7M | ||
| Q3 24 | — | $42.4M | ||
| Q2 24 | — | $22.9M |
| Q1 26 | — | $1.1M | ||
| Q4 25 | $4.0M | $42.2M | ||
| Q3 25 | $-6.8M | $21.2M | ||
| Q2 25 | $-21.0M | $5.6M | ||
| Q1 25 | $-18.6M | $2.1M | ||
| Q4 24 | — | $18.3M | ||
| Q3 24 | — | $25.2M | ||
| Q2 24 | — | $8.8M |
| Q1 26 | — | 0.5% | ||
| Q4 25 | 3.0% | 20.9% | ||
| Q3 25 | -5.6% | 9.8% | ||
| Q2 25 | -18.2% | 2.8% | ||
| Q1 25 | -18.6% | 1.1% | ||
| Q4 24 | — | 9.5% | ||
| Q3 24 | — | 12.0% | ||
| Q2 24 | — | 4.1% |
| Q1 26 | — | 2.3% | ||
| Q4 25 | 3.5% | 2.3% | ||
| Q3 25 | 5.7% | 3.6% | ||
| Q2 25 | 3.2% | 4.0% | ||
| Q1 25 | 5.0% | 5.0% | ||
| Q4 24 | — | 8.0% | ||
| Q3 24 | — | 8.2% | ||
| Q2 24 | — | 6.6% |
| Q1 26 | — | 1.29× | ||
| Q4 25 | 1.13× | 10.20× | ||
| Q3 25 | 0.02× | 3.36× | ||
| Q2 25 | -2.55× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.96× | ||
| Q2 24 | — | 2.83× |
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% |
ROG
Segment breakdown not available.
