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Karman Holdings Inc.（KRMN）与Loar Holdings Inc.（LOAR）财务数据对比。点击上方公司名可切换其他公司
Karman Holdings Inc.的季度营收约是Loar Holdings Inc.的1.0倍（$134.5M vs $131.8M）。Loar Holdings Inc.净利率更高（9.5% vs 5.7%，领先3.8%）。Karman Holdings Inc.同比增速更快（47.4% vs 19.3%）。过去两年Karman Holdings Inc.的营收复合增速更高（27.3% vs 19.8%）
Karman Holdings是一家美国航天与防务系统制造商，总部位于加利福尼亚州亨廷顿海滩，当前估值约40亿美元，近期已完成首次公开发行，专注为航天及国防领域提供相关系统产品及配套服务。
KRMN vs LOAR — 直观对比
营收规模更大
KRMN
是对方的1.0倍
$131.8M
营收增速更快
KRMN
高出28.1%
19.3%
净利率更高
LOAR
高出3.8%
5.7%
两年增速更快
KRMN
近两年复合增速
19.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $134.5M | $131.8M |
| 净利润 | $7.7M | $12.5M |
| 毛利率 | 39.9% | 52.1% |
| 营业利润率 | 15.7% | 18.0% |
| 净利率 | 5.7% | 9.5% |
| 营收同比 | 47.4% | 19.3% |
| 净利润同比 | 358.3% | 239.5% |
| 每股收益（稀释后） | $0.06 | $0.13 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收KRMNLOAR
| Q4 25 | $134.5M | $131.8M | ||
| Q3 25 | $121.8M | $126.8M | ||
| Q2 25 | $115.1M | $123.1M | ||
| Q1 25 | $100.1M | $114.7M | ||
| Q4 24 | $91.2M | $110.4M | ||
| Q3 24 | $86.0M | $103.5M | ||
| Q2 24 | $85.0M | $97.0M | ||
| Q1 24 | $83.0M | $91.8M |
净利润KRMNLOAR
| Q4 25 | $7.7M | $12.5M | ||
| Q3 25 | $7.6M | $27.6M | ||
| Q2 25 | $6.8M | $16.7M | ||
| Q1 25 | $-4.8M | $15.3M | ||
| Q4 24 | $1.7M | $3.7M | ||
| Q3 24 | $4.3M | $8.7M | ||
| Q2 24 | $4.6M | $7.6M | ||
| Q1 24 | $2.1M | $2.2M |
毛利率KRMNLOAR
| Q4 25 | 39.9% | 52.1% | ||
| Q3 25 | 41.0% | 52.7% | ||
| Q2 25 | 40.9% | 53.8% | ||
| Q1 25 | 39.4% | 52.1% | ||
| Q4 24 | 38.1% | 48.9% | ||
| Q3 24 | 39.3% | 51.1% | ||
| Q2 24 | 40.7% | 49.0% | ||
| Q1 24 | 34.9% | 48.4% |
营业利润率KRMNLOAR
| Q4 25 | 15.7% | 18.0% | ||
| Q3 25 | 17.9% | 22.9% | ||
| Q2 25 | 17.5% | 22.2% | ||
| Q1 25 | 10.0% | 22.8% | ||
| Q4 24 | 15.8% | 19.2% | ||
| Q3 24 | 20.2% | 22.1% | ||
| Q2 24 | 21.5% | 22.9% | ||
| Q1 24 | 16.3% | 23.3% |
净利率KRMNLOAR
| Q4 25 | 5.7% | 9.5% | ||
| Q3 25 | 6.3% | 21.8% | ||
| Q2 25 | 5.9% | 13.6% | ||
| Q1 25 | -4.8% | 13.4% | ||
| Q4 24 | 1.8% | 3.3% | ||
| Q3 24 | 5.0% | 8.4% | ||
| Q2 24 | 5.4% | 7.9% | ||
| Q1 24 | 2.6% | 2.4% |
每股收益（稀释后）KRMNLOAR
| Q4 25 | $0.06 | $0.13 | ||
| Q3 25 | $0.06 | $0.29 | ||
| Q2 25 | $0.05 | $0.17 | ||
| Q1 25 | $-0.04 | $0.16 | ||
| Q4 24 | $0.01 | $-11023.48 | ||
| Q3 24 | $0.03 | $0.09 | ||
| Q2 24 | $0.03 | $0.09 | ||
| Q1 24 | $0.01 | $11023.54 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $34.0M | $84.8M |
| 总债务越低越好 | — | $715.7M |
| 股东权益账面价值 | $382.7M | $1.2B |
| 总资产 | $1.1B | $2.0B |
| 负债/权益比越低杠杆越低 | — | 0.61× |
8季度趋势，按日历期对齐
现金及短期投资KRMNLOAR
| Q4 25 | $34.0M | $84.8M | ||
| Q3 25 | $18.7M | $99.0M | ||
| Q2 25 | $27.4M | $103.3M | ||
| Q1 25 | $113.7M | $80.5M | ||
| Q4 24 | $11.5M | $54.1M | ||
| Q3 24 | — | $55.2M | ||
| Q2 24 | — | $73.2M | ||
| Q1 24 | — | $28.2M |
总债务KRMNLOAR
| Q4 25 | — | $715.7M | ||
| Q3 25 | — | $279.4M | ||
| Q2 25 | — | $277.7M | ||
| Q1 25 | — | $277.5M | ||
| Q4 24 | — | $277.3M | ||
| Q3 24 | — | $602.1M | ||
| Q2 24 | — | $250.7M | ||
| Q1 24 | — | $534.2M |
股东权益KRMNLOAR
| Q4 25 | $382.7M | $1.2B | ||
| Q3 25 | $369.1M | $1.2B | ||
| Q2 25 | $361.5M | $1.1B | ||
| Q1 25 | $348.9M | $1.1B | ||
| Q4 24 | $196.0M | $1.1B | ||
| Q3 24 | $194.1M | $769.8M | ||
| Q2 24 | $189.6M | $758.4M | ||
| Q1 24 | $184.8M | $420.6M |
总资产KRMNLOAR
| Q4 25 | $1.1B | $2.0B | ||
| Q3 25 | $968.1M | $1.5B | ||
| Q2 25 | $953.9M | $1.5B | ||
| Q1 25 | $875.4M | $1.5B | ||
| Q4 24 | $774.0M | $1.5B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
负债/权益比KRMNLOAR
| Q4 25 | — | 0.61× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | — | 0.25× | ||
| Q3 24 | — | 0.78× | ||
| Q2 24 | — | 0.33× | ||
| Q1 24 | — | 1.27× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $8.7M | $30.4M |
| 自由现金流经营现金流 - 资本支出 | $4.0M | — |
| 自由现金流率自由现金流/营收 | 3.0% | — |
| 资本支出强度资本支出/营收 | 3.5% | — |
| 现金转化率经营现金流/净利润 | 1.13× | 2.43× |
| 过去12个月自由现金流最近4个季度 | $-42.5M | — |
8季度趋势，按日历期对齐
经营现金流KRMNLOAR
| Q4 25 | $8.7M | $30.4M | ||
| Q3 25 | $131.0K | $29.7M | ||
| Q2 25 | $-17.4M | $23.8M | ||
| Q1 25 | $-13.6M | $28.4M | ||
| Q4 24 | — | $20.7M | ||
| Q3 24 | — | $16.3M | ||
| Q2 24 | — | $7.1M | ||
| Q1 24 | $3.1M | $10.8M |
自由现金流KRMNLOAR
| Q4 25 | $4.0M | — | ||
| Q3 25 | $-6.8M | — | ||
| Q2 25 | $-21.0M | — | ||
| Q1 25 | $-18.6M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $1.5M | — |
自由现金流率KRMNLOAR
| Q4 25 | 3.0% | — | ||
| Q3 25 | -5.6% | — | ||
| Q2 25 | -18.2% | — | ||
| Q1 25 | -18.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.8% | — |
资本支出强度KRMNLOAR
| Q4 25 | 3.5% | — | ||
| Q3 25 | 5.7% | — | ||
| Q2 25 | 3.2% | — | ||
| Q1 25 | 5.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.9% | — |
现金转化率KRMNLOAR
| Q4 25 | 1.13× | 2.43× | ||
| Q3 25 | 0.02× | 1.08× | ||
| Q2 25 | -2.55× | 1.42× | ||
| Q1 25 | — | 1.85× | ||
| Q4 24 | — | 5.62× | ||
| Q3 24 | — | 1.89× | ||
| Q2 24 | — | 0.93× | ||
| Q1 24 | 1.45× | 4.81× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
KRMN
| Tactical Missile And Integrated Defense Systems | $50.5M | 38% |
| Hypersonic And Strategic Missile Defense | $48.4M | 36% |
| Space And Launch | $35.7M | 27% |
LOAR
| Other | $76.8M | 58% |
| Commercial Aerospace | $21.2M | 16% |
| Business Jet And General Aviation | $17.6M | 13% |
| Defense | $16.2M | 12% |
