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Side-by-side financial comparison of KRATOS DEFENSE & SECURITY SOLUTIONS, INC. (KTOS) and Ryman Hospitality Properties, Inc. (RHP). Click either name above to swap in a different company.
Ryman Hospitality Properties, Inc. is the larger business by last-quarter revenue ($664.6M vs $345.1M, roughly 1.9× KRATOS DEFENSE & SECURITY SOLUTIONS, INC.). Ryman Hospitality Properties, Inc. runs the higher net margin — 10.4% vs 1.7%, a 8.7% gap on every dollar of revenue. On growth, KRATOS DEFENSE & SECURITY SOLUTIONS, INC. posted the faster year-over-year revenue change (21.9% vs 13.2%). Over the past eight quarters, KRATOS DEFENSE & SECURITY SOLUTIONS, INC.'s revenue compounded faster (11.6% CAGR vs 4.1%).
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.
Ryman Hospitality Properties, Inc. is a hotel, resort, entertainment, and media company named for one of its assets: the Ryman Auditorium, a National Historic Landmark in Nashville, Tennessee. The company's legal lineage can be traced back to its time as a subsidiary of Edward Gaylord's Oklahoma Publishing Company; however, the backbone of the modern entity was formed with the company's acquisition of WSM, Inc. in 1983. This purchase resulted in the ownership of the Grand Ole Opry and associa...
KTOS vs RHP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $345.1M | $664.6M |
| Net Profit | $5.9M | $69.4M |
| Gross Margin | 24.2% | — |
| Operating Margin | 2.4% | 20.7% |
| Net Margin | 1.7% | 10.4% |
| Revenue YoY | 21.9% | 13.2% |
| Net Profit YoY | 51.3% | 10.1% |
| EPS (diluted) | $0.03 | $1.03 |
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 | — | $664.6M | ||
| Q4 25 | $345.1M | $737.8M | ||
| Q3 25 | $347.6M | $592.5M | ||
| Q2 25 | $351.5M | $659.5M | ||
| Q1 25 | $302.6M | $587.3M | ||
| Q4 24 | $283.1M | $647.6M | ||
| Q3 24 | $275.9M | $550.0M | ||
| Q2 24 | $300.1M | $613.3M |
| Q1 26 | — | $69.4M | ||
| Q4 25 | $5.9M | $74.5M | ||
| Q3 25 | $8.7M | $34.9M | ||
| Q2 25 | $2.9M | $71.8M | ||
| Q1 25 | $4.5M | $63.0M | ||
| Q4 24 | $3.9M | $72.3M | ||
| Q3 24 | $3.2M | $59.0M | ||
| Q2 24 | $7.9M | $100.8M |
| Q1 26 | — | — | ||
| Q4 25 | 24.2% | 41.4% | ||
| Q3 25 | 22.2% | 40.9% | ||
| Q2 25 | 21.0% | 49.7% | ||
| Q1 25 | 24.3% | 44.4% | ||
| Q4 24 | 24.7% | 40.4% | ||
| Q3 24 | 25.1% | 43.1% | ||
| Q2 24 | 25.7% | 48.4% |
| Q1 26 | — | 20.7% | ||
| Q4 25 | 2.4% | 19.4% | ||
| Q3 25 | 2.0% | 15.0% | ||
| Q2 25 | 1.1% | 21.1% | ||
| Q1 25 | 2.2% | 19.8% | ||
| Q4 24 | 1.1% | 18.6% | ||
| Q3 24 | 2.4% | 19.3% | ||
| Q2 24 | 4.2% | 27.4% |
| Q1 26 | — | 10.4% | ||
| Q4 25 | 1.7% | 10.1% | ||
| Q3 25 | 2.5% | 5.9% | ||
| Q2 25 | 0.8% | 10.9% | ||
| Q1 25 | 1.5% | 10.7% | ||
| Q4 24 | 1.4% | 11.2% | ||
| Q3 24 | 1.2% | 10.7% | ||
| Q2 24 | 2.6% | 16.4% |
| Q1 26 | — | $1.03 | ||
| Q4 25 | $0.03 | $1.12 | ||
| Q3 25 | $0.05 | $0.53 | ||
| Q2 25 | $0.02 | $1.12 | ||
| Q1 25 | $0.03 | $1.00 | ||
| Q4 24 | $0.03 | $1.12 | ||
| Q3 24 | $0.02 | $0.94 | ||
| Q2 24 | $0.05 | $1.65 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $560.6M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.0B | $770.8M |
| Total Assets | $2.5B | $6.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $560.6M | $471.4M | ||
| Q3 25 | $565.9M | $483.3M | ||
| Q2 25 | $783.6M | $420.6M | ||
| Q1 25 | $263.7M | $413.9M | ||
| Q4 24 | $329.3M | $477.7M | ||
| Q3 24 | $301.5M | $534.9M | ||
| Q2 24 | $308.2M | $498.4M |
| Q1 26 | — | $770.8M | ||
| Q4 25 | $2.0B | $750.2M | ||
| Q3 25 | $2.0B | $758.5M | ||
| Q2 25 | $2.0B | $800.4M | ||
| Q1 25 | $1.4B | $531.5M | ||
| Q4 24 | $1.4B | $549.0M | ||
| Q3 24 | $1.3B | $551.9M | ||
| Q2 24 | $1.3B | $562.6M |
| Q1 26 | — | $6.2B | ||
| Q4 25 | $2.5B | $6.2B | ||
| Q3 25 | $2.4B | $6.2B | ||
| Q2 25 | $2.6B | $6.1B | ||
| Q1 25 | $2.0B | $5.2B | ||
| Q4 24 | $2.0B | $5.2B | ||
| Q3 24 | $1.9B | $5.2B | ||
| Q2 24 | $1.9B | $5.1B |
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 | $12.1M | — |
| Free Cash FlowOCF − Capex | $-12.1M | — |
| FCF MarginFCF / Revenue | -3.5% | — |
| Capex IntensityCapex / Revenue | 7.0% | — |
| Cash ConversionOCF / Net Profit | 2.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-137.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $12.1M | $164.7M | ||
| Q3 25 | $-13.3M | $205.2M | ||
| Q2 25 | $-11.7M | $122.5M | ||
| Q1 25 | $-29.2M | $98.2M | ||
| Q4 24 | $45.6M | $166.6M | ||
| Q3 24 | $6.1M | $218.1M | ||
| Q2 24 | $-2.7M | $184.3M |
| Q1 26 | — | — | ||
| Q4 25 | $-12.1M | $58.5M | ||
| Q3 25 | $-41.3M | $135.4M | ||
| Q2 25 | $-32.2M | $53.0M | ||
| Q1 25 | $-51.8M | $-14.5M | ||
| Q4 24 | $32.0M | $76.0M | ||
| Q3 24 | $-9.2M | $85.7M | ||
| Q2 24 | $-15.4M | $78.8M |
| Q1 26 | — | — | ||
| Q4 25 | -3.5% | 7.9% | ||
| Q3 25 | -11.9% | 22.9% | ||
| Q2 25 | -9.2% | 8.0% | ||
| Q1 25 | -17.1% | -2.5% | ||
| Q4 24 | 11.3% | 11.7% | ||
| Q3 24 | -3.3% | 15.6% | ||
| Q2 24 | -5.1% | 12.9% |
| Q1 26 | — | — | ||
| Q4 25 | 7.0% | 14.4% | ||
| Q3 25 | 8.1% | 11.8% | ||
| Q2 25 | 5.8% | 10.5% | ||
| Q1 25 | 7.5% | 19.2% | ||
| Q4 24 | 4.8% | 14.0% | ||
| Q3 24 | 5.5% | 24.1% | ||
| Q2 24 | 4.2% | 17.2% |
| Q1 26 | — | — | ||
| Q4 25 | 2.05× | 2.21× | ||
| Q3 25 | -1.53× | 5.88× | ||
| Q2 25 | -4.03× | 1.71× | ||
| Q1 25 | -6.49× | 1.56× | ||
| Q4 24 | 11.69× | 2.30× | ||
| Q3 24 | 1.91× | 3.70× | ||
| Q2 24 | -0.34× | 1.83× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KTOS
| Kratos Government Solutions | $276.7M | 80% |
| Non US Government | $65.0M | 19% |
| Norden Millimeter Inc | $5.3M | 2% |
RHP
| Food and beverage | $289.3M | 44% |
| Rooms | $223.8M | 34% |
| Entertainment | $79.2M | 12% |
| Other | $72.3M | 11% |
