KRMNKarman Holdings Inc.
Is it safe?
Forensics clean, with a caveat: a safe balance sheet and insiders buying, but heavy debt (BB) and big price swings.
Financially healthy, low distress risk Altman Z-score, a bankruptcy-risk model from five balance-sheet ratios.
Some accounting flags, worth a closer look Beneish M-score, a forensic model that detects earnings-manipulation patterns (receivables outrunning sales, margins slipping, accrual-heavy profit).
Mixed fundamental signals Piotroski F-score, nine pass/fail tests of year-over-year financial health across profitability, balance sheet and efficiency. 7 to 9 is strong, 0 to 3 weak.
Multiple insiders bought with their own money (net +$1.0M, 90 days to Oct 8, 2026).
Moderately leveraged. A rule of thumb on leverage, not a credit rating.
Large price swings, high volatility. Worst drawdown -73% · now 72% below its 52-week high.
Unless marked, from SEC EDGAR, as of Dec 31, 2025.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can KRMN take a bad year?
Karman Holdings Inc. carries $728M of net debt at 5.37× EBITDA: a heavy load to carry through a bad year.
Net debt · as at Q2 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 5.37×
Net debt / EBITDA · 4.10× a year ago · the load is going up
- Altman Z-score
- 5.98
Altman Z-score · safe zone, above 3
- Cash runway
- 1.9 years
Cash runway · burning $6.9M a quarter at the current rate
Details›
- Total debtQ2 2026
- $780M
- Cash and short-term investments
- $52M
- Net debt
- $728M
- EBITDA, trailing twelve months
- $135M
- Operating profit, trailing twelve months
- $99M
- Debt / equity
- 1.85×
- Total debt / EBITDA
- 5.75×
- Annualised volatilitytwo years of daily moves
- 69%
- Worst drawdown on file
- −73%
- Below its 52-week high
- 72%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.
Aerospace & Defense
Ranks #21 of 36 by RyuScore