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Karman Holdings Inc.（KRMN）与BRC Group Holdings, Inc.（RILY）财务数据对比。点击上方公司名可切换其他公司
BRC Group Holdings, Inc.的季度营收约是Karman Holdings Inc.的1.4倍（$188.3M vs $134.5M），BRC Group Holdings, Inc.净利率更高（47.9% vs 5.7%，领先42.2%），Karman Holdings Inc.同比增速更快（47.4% vs -21.9%），过去两年Karman Holdings Inc.的营收复合增速更高（27.3% vs -15.4%）
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 RILY — 直观对比
营收规模更大
RILY
是对方的1.4倍
$134.5M
营收增速更快
KRMN
高出69.3%
-21.9%
净利率更高
RILY
高出42.2%
5.7%
两年增速更快
KRMN
近两年复合增速
-15.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $134.5M | $188.3M |
| 净利润 | $7.7M | $90.3M |
| 毛利率 | 39.9% | 79.5% |
| 营业利润率 | 15.7% | 32.3% |
| 净利率 | 5.7% | 47.9% |
| 营收同比 | 47.4% | -21.9% |
| 净利润同比 | 358.3% | 1710.8% |
| 每股收益（稀释后） | $0.06 | $2.78 |
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KRMNRILY
| Q4 25 | $134.5M | $188.3M | ||
| Q3 25 | $121.8M | $215.3M | ||
| Q2 25 | $115.1M | $188.2M | ||
| Q1 25 | $100.1M | $197.2M | ||
| Q4 24 | $91.2M | $241.0M | ||
| Q3 24 | $86.0M | $225.5M | ||
| Q2 24 | $85.0M | $256.0M | ||
| Q1 24 | $83.0M | $263.4M |
净利润KRMNRILY
| Q4 25 | $7.7M | $90.3M | ||
| Q3 25 | $7.6M | $91.1M | ||
| Q2 25 | $6.8M | $139.5M | ||
| Q1 25 | $-4.8M | $-10.0M | ||
| Q4 24 | $1.7M | $-5.6M | ||
| Q3 24 | $4.3M | $-284.4M | ||
| Q2 24 | $4.6M | $-433.6M | ||
| Q1 24 | $2.1M | $-49.2M |
毛利率KRMNRILY
| Q4 25 | 39.9% | 79.5% | ||
| Q3 25 | 41.0% | 83.7% | ||
| Q2 25 | 40.9% | 81.3% | ||
| Q1 25 | 39.4% | 81.4% | ||
| Q4 24 | 38.1% | 79.8% | ||
| Q3 24 | 39.3% | 82.1% | ||
| Q2 24 | 40.7% | 84.5% | ||
| Q1 24 | 34.9% | 85.3% |
营业利润率KRMNRILY
| Q4 25 | 15.7% | 32.3% | ||
| Q3 25 | 17.9% | 30.4% | ||
| Q2 25 | 17.5% | 5.7% | ||
| Q1 25 | 10.0% | -31.2% | ||
| Q4 24 | 15.8% | -69.2% | ||
| Q3 24 | 20.2% | -36.4% | ||
| Q2 24 | 21.5% | -90.8% | ||
| Q1 24 | 16.3% | -6.1% |
净利率KRMNRILY
| Q4 25 | 5.7% | 47.9% | ||
| Q3 25 | 6.3% | 42.3% | ||
| Q2 25 | 5.9% | 74.1% | ||
| Q1 25 | -4.8% | -5.1% | ||
| Q4 24 | 1.8% | -2.3% | ||
| Q3 24 | 5.0% | -126.1% | ||
| Q2 24 | 5.4% | -169.4% | ||
| Q1 24 | 2.6% | -18.7% |
每股收益（稀释后）KRMNRILY
| Q4 25 | $0.06 | $2.78 | ||
| Q3 25 | $0.06 | $2.91 | ||
| Q2 25 | $0.05 | $4.50 | ||
| Q1 25 | $-0.04 | $-0.39 | ||
| Q4 24 | $0.01 | $-0.01 | ||
| Q3 24 | $0.03 | $-9.39 | ||
| Q2 24 | $0.03 | $-14.35 | ||
| Q1 24 | $0.01 | $-1.71 |
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 | $226.6M |
| 总债务越低越好 | — | $1.4B |
| 股东权益账面价值 | $382.7M | $-171.5M |
| 总资产 | $1.1B | $1.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资KRMNRILY
| Q4 25 | $34.0M | $226.6M | ||
| Q3 25 | $18.7M | $184.2M | ||
| Q2 25 | $27.4M | $267.4M | ||
| Q1 25 | $113.7M | $138.3M | ||
| Q4 24 | $11.5M | $146.9M | ||
| Q3 24 | — | $159.2M | ||
| Q2 24 | — | $236.9M | ||
| Q1 24 | — | $190.7M |
总债务KRMNRILY
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益KRMNRILY
| Q4 25 | $382.7M | $-171.5M | ||
| Q3 25 | $369.1M | $-260.5M | ||
| Q2 25 | $361.5M | $-351.7M | ||
| Q1 25 | $348.9M | $-496.8M | ||
| Q4 24 | $196.0M | $-488.2M | ||
| Q3 24 | $194.1M | $-497.6M | ||
| Q2 24 | $189.6M | $-218.3M | ||
| Q1 24 | $184.8M | $228.4M |
总资产KRMNRILY
| Q4 25 | $1.1B | $1.7B | ||
| Q3 25 | $968.1M | $1.7B | ||
| Q2 25 | $953.9M | $1.5B | ||
| Q1 25 | $875.4M | $1.5B | ||
| Q4 24 | $774.0M | $1.8B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $3.2B | ||
| Q1 24 | — | $5.0B |
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 | $26.2M |
| 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× | 0.29× |
| 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KRMNRILY
| Q4 25 | $8.7M | $26.2M | ||
| Q3 25 | $131.0K | $-60.6M | ||
| Q2 25 | $-17.4M | $-25.6M | ||
| Q1 25 | $-13.6M | $184.0K | ||
| Q4 24 | — | $-2.7M | ||
| Q3 24 | — | $19.5M | ||
| Q2 24 | — | $111.5M | ||
| Q1 24 | $3.1M | $135.4M |
自由现金流KRMNRILY
| 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KRMNRILY
| 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KRMNRILY
| 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KRMNRILY
| Q4 25 | 1.13× | 0.29× | ||
| Q3 25 | 0.02× | -0.66× | ||
| Q2 25 | -2.55× | -0.18× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.45× | — |
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% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
