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Side-by-side financial comparison of Karman Holdings Inc. (KRMN) and UNIVERSAL TECHNICAL INSTITUTE INC (UTI). Click either name above to swap in a different company.
UNIVERSAL TECHNICAL INSTITUTE INC is the larger business by last-quarter revenue ($221.4M vs $134.5M, roughly 1.6× Karman Holdings Inc.). Karman Holdings Inc. runs the higher net margin — 5.7% vs 0.2%, a 5.5% gap on every dollar of revenue. On growth, Karman Holdings Inc. posted the faster year-over-year revenue change (47.4% vs 6.7%). Over the past eight quarters, Karman Holdings Inc.'s revenue compounded faster (27.3% CAGR vs 11.7%).
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.
Universal Technical Institute, Inc. (UTI) is a private for-profit system of technical colleges in the United States. It was established in 1965 by Robert Sweet.
KRMN vs UTI — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $134.5M | $221.4M |
| Net Profit | $7.7M | $433.0K |
| Gross Margin | 39.9% | — |
| Operating Margin | 15.7% | 0.2% |
| Net Margin | 5.7% | 0.2% |
| Revenue YoY | 47.4% | 6.7% |
| Net Profit YoY | 358.3% | -60.5% |
| EPS (diluted) | $0.06 | $0.01 |
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 | — | $221.4M | ||
| Q4 25 | $134.5M | $220.8M | ||
| Q3 25 | $121.8M | $222.4M | ||
| Q2 25 | $115.1M | $204.3M | ||
| Q1 25 | $100.1M | $207.4M | ||
| Q4 24 | $91.2M | $201.4M | ||
| Q3 24 | $86.0M | $196.4M | ||
| Q2 24 | $85.0M | $177.5M |
| Q1 26 | — | $433.0K | ||
| Q4 25 | $7.7M | $12.8M | ||
| Q3 25 | $7.6M | $18.8M | ||
| Q2 25 | $6.8M | $10.7M | ||
| Q1 25 | $-4.8M | $11.4M | ||
| Q4 24 | $1.7M | $22.2M | ||
| Q3 24 | $4.3M | $18.8M | ||
| Q2 24 | $4.6M | $5.0M |
| Q1 26 | — | — | ||
| 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 26 | — | 0.2% | ||
| Q4 25 | 15.7% | 7.1% | ||
| Q3 25 | 17.9% | 11.2% | ||
| Q2 25 | 17.5% | 6.9% | ||
| Q1 25 | 10.0% | 8.1% | ||
| Q4 24 | 15.8% | 13.6% | ||
| Q3 24 | 20.2% | 13.3% | ||
| Q2 24 | 21.5% | 4.2% |
| Q1 26 | — | 0.2% | ||
| Q4 25 | 5.7% | 5.8% | ||
| Q3 25 | 6.3% | 8.4% | ||
| Q2 25 | 5.9% | 5.2% | ||
| Q1 25 | -4.8% | 5.5% | ||
| Q4 24 | 1.8% | 11.0% | ||
| Q3 24 | 5.0% | 9.6% | ||
| Q2 24 | 5.4% | 2.8% |
| Q1 26 | — | $0.01 | ||
| Q4 25 | $0.06 | $0.23 | ||
| Q3 25 | $0.06 | $0.33 | ||
| Q2 25 | $0.05 | $0.19 | ||
| Q1 25 | $-0.04 | $0.21 | ||
| Q4 24 | $0.01 | $0.40 | ||
| Q3 24 | $0.03 | $0.35 | ||
| Q2 24 | $0.03 | $0.09 |
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 | $162.0M |
| Total DebtLower is stronger | — | $127.8M |
| Stockholders' EquityBook value | $382.7M | $339.9M |
| Total Assets | $1.1B | $852.2M |
| Debt / EquityLower = less leverage | — | 0.38× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $162.0M | ||
| Q4 25 | $34.0M | $162.8M | ||
| Q3 25 | $18.7M | $169.1M | ||
| Q2 25 | $27.4M | $70.7M | ||
| Q1 25 | $113.7M | $96.0M | ||
| Q4 24 | $11.5M | $172.0M | ||
| Q3 24 | — | $161.9M | ||
| Q2 24 | — | $115.5M |
| Q1 26 | — | $127.8M | ||
| Q4 25 | — | $101.4M | ||
| Q3 25 | — | $87.1M | ||
| Q2 25 | — | $73.8M | ||
| Q1 25 | — | $94.4M | ||
| Q4 24 | — | $120.1M | ||
| Q3 24 | — | $125.7M | ||
| Q2 24 | — | $137.3M |
| Q1 26 | — | $339.9M | ||
| Q4 25 | $382.7M | $335.9M | ||
| Q3 25 | $369.1M | $328.1M | ||
| Q2 25 | $361.5M | $306.8M | ||
| Q1 25 | $348.9M | $293.9M | ||
| Q4 24 | $196.0M | $280.0M | ||
| Q3 24 | $194.1M | $260.2M | ||
| Q2 24 | $189.6M | $239.4M |
| Q1 26 | — | $852.2M | ||
| Q4 25 | $1.1B | $834.0M | ||
| Q3 25 | $968.1M | $826.1M | ||
| Q2 25 | $953.9M | $740.8M | ||
| Q1 25 | $875.4M | $720.4M | ||
| Q4 24 | $774.0M | $753.8M | ||
| Q3 24 | — | $744.6M | ||
| Q2 24 | — | $706.0M |
| Q1 26 | — | 0.38× | ||
| Q4 25 | — | 0.30× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.32× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | — | 0.48× | ||
| Q2 24 | — | 0.57× |
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 | $7.1M |
| Free Cash FlowOCF − Capex | $4.0M | — |
| FCF MarginFCF / Revenue | 3.0% | — |
| Capex IntensityCapex / Revenue | 3.5% | — |
| Cash ConversionOCF / Net Profit | 1.13× | 16.33× |
| TTM Free Cash FlowTrailing 4 quarters | $-42.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $7.1M | ||
| Q4 25 | $8.7M | $3.1M | ||
| Q3 25 | $131.0K | $57.1M | ||
| Q2 25 | $-17.4M | $18.1M | ||
| Q1 25 | $-13.6M | $-789.0K | ||
| Q4 24 | — | $23.0M | ||
| Q3 24 | — | $67.5M | ||
| Q2 24 | — | $10.0M |
| Q1 26 | — | — | ||
| Q4 25 | $4.0M | $-19.2M | ||
| Q3 25 | $-6.8M | $40.6M | ||
| Q2 25 | $-21.0M | $6.8M | ||
| Q1 25 | $-18.6M | $-11.7M | ||
| Q4 24 | — | $19.6M | ||
| Q3 24 | — | $60.0M | ||
| Q2 24 | — | $3.0M |
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | -8.7% | ||
| Q3 25 | -5.6% | 18.3% | ||
| Q2 25 | -18.2% | 3.4% | ||
| Q1 25 | -18.6% | -5.7% | ||
| Q4 24 | — | 9.7% | ||
| Q3 24 | — | 30.6% | ||
| Q2 24 | — | 1.7% |
| Q1 26 | — | — | ||
| Q4 25 | 3.5% | 10.1% | ||
| Q3 25 | 5.7% | 7.4% | ||
| Q2 25 | 3.2% | 5.5% | ||
| Q1 25 | 5.0% | 5.3% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | — | 3.8% | ||
| Q2 24 | — | 4.0% |
| Q1 26 | — | 16.33× | ||
| Q4 25 | 1.13× | 0.24× | ||
| Q3 25 | 0.02× | 3.04× | ||
| Q2 25 | -2.55× | 1.69× | ||
| Q1 25 | — | -0.07× | ||
| Q4 24 | — | 1.04× | ||
| Q3 24 | — | 3.58× | ||
| Q2 24 | — | 2.01× |
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% |
UTI
Segment breakdown not available.
