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Karman Holdings Inc.（KRMN）与GIBRALTAR INDUSTRIES, INC.（ROCK）财务数据对比。点击上方公司名可切换其他公司
GIBRALTAR INDUSTRIES, INC.的季度营收约是Karman Holdings Inc.的1.7倍（$225.0M vs $134.5M），Karman Holdings Inc.同比增速更快（47.4% vs 24.9%），GIBRALTAR INDUSTRIES, INC.自由现金流更多（$26.2M vs $4.0M），过去两年Karman Holdings Inc.的营收复合增速更高（27.3% vs -12.3%）
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。
直布罗陀工业公司是专业建筑、基础设施及可再生能源产品制造商与分销商，主营通风系统、屋面配件、太阳能安装支架、园林景观产品等，主要服务北美地区住宅、商业建筑及清洁能源市场，专注提供创新可持续的客户解决方案。
KRMN vs ROCK — 直观对比
营收规模更大
ROCK
是对方的1.7倍
$134.5M
营收增速更快
KRMN
高出22.5%
24.9%
自由现金流更多
ROCK
多$22.2M
$4.0M
两年增速更快
KRMN
近两年复合增速
-12.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $134.5M | $225.0M |
| 净利润 | $7.7M | — |
| 毛利率 | 39.9% | 25.3% |
| 营业利润率 | 15.7% | 7.9% |
| 净利率 | 5.7% | — |
| 营收同比 | 47.4% | 24.9% |
| 净利润同比 | 358.3% | — |
| 每股收益（稀释后） | $0.06 | — |
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KRMNROCK
| Q4 25 | $134.5M | $225.0M | ||
| Q3 25 | $121.8M | $310.9M | ||
| Q2 25 | $115.1M | $309.5M | ||
| Q1 25 | $100.1M | $290.0M | ||
| Q4 24 | $91.2M | $180.1M | ||
| Q3 24 | $86.0M | $277.1M | ||
| Q2 24 | $85.0M | $273.6M | ||
| Q1 24 | $83.0M | $292.5M |
净利润KRMNROCK
| Q4 25 | $7.7M | — | ||
| Q3 25 | $7.6M | $-89.1M | ||
| Q2 25 | $6.8M | $26.0M | ||
| Q1 25 | $-4.8M | $21.1M | ||
| Q4 24 | $1.7M | — | ||
| Q3 24 | $4.3M | $34.0M | ||
| Q2 24 | $4.6M | $32.2M | ||
| Q1 24 | $2.1M | $24.9M |
毛利率KRMNROCK
| Q4 25 | 39.9% | 25.3% | ||
| Q3 25 | 41.0% | 26.6% | ||
| Q2 25 | 40.9% | 28.4% | ||
| Q1 25 | 39.4% | 26.8% | ||
| Q4 24 | 38.1% | 29.0% | ||
| Q3 24 | 39.3% | 29.4% | ||
| Q2 24 | 40.7% | 30.5% | ||
| Q1 24 | 34.9% | 28.9% |
营业利润率KRMNROCK
| Q4 25 | 15.7% | 7.9% | ||
| Q3 25 | 17.9% | 12.8% | ||
| Q2 25 | 17.5% | 12.8% | ||
| Q1 25 | 10.0% | 8.8% | ||
| Q4 24 | 15.8% | 13.3% | ||
| Q3 24 | 20.2% | 15.6% | ||
| Q2 24 | 21.5% | 14.9% | ||
| Q1 24 | 16.3% | 10.8% |
净利率KRMNROCK
| Q4 25 | 5.7% | — | ||
| Q3 25 | 6.3% | -28.6% | ||
| Q2 25 | 5.9% | 8.4% | ||
| Q1 25 | -4.8% | 7.3% | ||
| Q4 24 | 1.8% | — | ||
| Q3 24 | 5.0% | 12.3% | ||
| Q2 24 | 5.4% | 11.8% | ||
| Q1 24 | 2.6% | 8.5% |
每股收益（稀释后）KRMNROCK
| Q4 25 | $0.06 | — | ||
| Q3 25 | $0.06 | $-2.98 | ||
| Q2 25 | $0.05 | $0.87 | ||
| Q1 25 | $-0.04 | — | ||
| Q4 24 | $0.01 | — | ||
| Q3 24 | $0.03 | $1.11 | ||
| Q2 24 | $0.03 | $1.05 | ||
| Q1 24 | $0.01 | — |
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 | $115.7M |
| 总债务越低越好 | — | $0 |
| 股东权益账面价值 | $382.7M | $950.4M |
| 总资产 | $1.1B | $1.4B |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资KRMNROCK
| Q4 25 | $34.0M | $115.7M | ||
| Q3 25 | $18.7M | $89.4M | ||
| Q2 25 | $27.4M | $43.3M | ||
| Q1 25 | $113.7M | $25.1M | ||
| Q4 24 | $11.5M | $269.5M | ||
| Q3 24 | — | $228.9M | ||
| Q2 24 | — | $179.1M | ||
| Q1 24 | — | $146.7M |
总债务KRMNROCK
| Q4 25 | — | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $0 | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | $0 |
股东权益KRMNROCK
| Q4 25 | $382.7M | $950.4M | ||
| Q3 25 | $369.1M | $951.8M | ||
| Q2 25 | $361.5M | $1.0B | ||
| Q1 25 | $348.9M | $1.0B | ||
| Q4 24 | $196.0M | $1.0B | ||
| Q3 24 | $194.1M | $1.0B | ||
| Q2 24 | $189.6M | $975.7M | ||
| Q1 24 | $184.8M | $940.2M |
总资产KRMNROCK
| Q4 25 | $1.1B | $1.4B | ||
| Q3 25 | $968.1M | $1.4B | ||
| Q2 25 | $953.9M | $1.5B | ||
| Q1 25 | $875.4M | $1.4B | ||
| Q4 24 | $774.0M | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.3B |
负债/权益比KRMNROCK
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.00× |
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 | $35.5M |
| 自由现金流经营现金流 - 资本支出 | $4.0M | $26.2M |
| 自由现金流率自由现金流/营收 | 3.0% | 11.7% |
| 资本支出强度资本支出/营收 | 3.5% | 4.1% |
| 现金转化率经营现金流/净利润 | 1.13× | — |
| 过去12个月自由现金流最近4个季度 | $-42.5M | $120.6M |
8季度趋势，按日历期对齐
经营现金流KRMNROCK
| Q4 25 | $8.7M | $35.5M | ||
| Q3 25 | $131.0K | $73.0M | ||
| Q2 25 | $-17.4M | $44.9M | ||
| Q1 25 | $-13.6M | $13.7M | ||
| Q4 24 | — | $19.9M | ||
| Q3 24 | — | $64.7M | ||
| Q2 24 | — | $36.5M | ||
| Q1 24 | $3.1M | $53.2M |
自由现金流KRMNROCK
| Q4 25 | $4.0M | $26.2M | ||
| Q3 25 | $-6.8M | $64.8M | ||
| Q2 25 | $-21.0M | $27.3M | ||
| Q1 25 | $-18.6M | $2.3M | ||
| Q4 24 | — | $14.1M | ||
| Q3 24 | — | $60.5M | ||
| Q2 24 | — | $33.5M | ||
| Q1 24 | $1.5M | $48.8M |
自由现金流率KRMNROCK
| Q4 25 | 3.0% | 11.7% | ||
| Q3 25 | -5.6% | 20.8% | ||
| Q2 25 | -18.2% | 8.8% | ||
| Q1 25 | -18.6% | 0.8% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | — | 21.8% | ||
| Q2 24 | — | 12.2% | ||
| Q1 24 | 1.8% | 16.7% |
资本支出强度KRMNROCK
| Q4 25 | 3.5% | 4.1% | ||
| Q3 25 | 5.7% | 2.6% | ||
| Q2 25 | 3.2% | 5.7% | ||
| Q1 25 | 5.0% | 3.9% | ||
| Q4 24 | — | 3.3% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 1.1% | ||
| Q1 24 | 1.9% | 1.5% |
现金转化率KRMNROCK
| Q4 25 | 1.13× | — | ||
| Q3 25 | 0.02× | — | ||
| Q2 25 | -2.55× | 1.73× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.90× | ||
| Q2 24 | — | 1.13× | ||
| Q1 24 | 1.45× | 2.13× |
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% |
ROCK
| Transferred At Point In Time | $183.5M | 82% |
| Infrastructure | $22.5M | 10% |
| Other | $18.9M | 8% |
