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Astronics vs Karman: revenue, profit, margins and growth compared

Astronics brought in $862.1M of revenue in fiscal 2025, Karman $471.5M in fiscal 2025. Revenue changed by +8.4% at Astronics and +36.6% at Karman on the year before, so Karman grew faster. Astronics kept 3.4% of its revenue as net profit, Karman 3.7%. Free cash flow was $43.1M at Astronics and -$42.5M at Karman.

Side by side, latest fiscal year

ATROKRMN
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$862.1M$471.5M
Revenue growth+8.4%+36.6%
Net income$29.4M$17.4M
Net margin3.4%3.7%
Free cash flow$43.1M-$42.5M
Free cash flow margin5.0%-9.0%
Earnings per share (diluted)$0.81$0.13
Cash$18.2M$34M
Debt$334.5M$3.8M
Price to earnings83.5259.1
Market value$2.9B$4.5B
Dividend yieldn/an/a
Rank by revenue in sector#293 of 587 · Industrials#341 of 587 · Industrials

Over the years

Revenue
ATRO FY2018: $803.3MATRO FY2019: $772.7MATRO FY2020: $502.6MATRO FY2021: $444.9MATRO FY2022: $534.9MATRO FY2023: $689.2MATRO FY2024: $795.4MATRO FY2025: $862.1MKRMN FY2022: $226.3MKRMN FY2024: $280.7MKRMN FY2024: $345.3MKRMN FY2025: $471.5MFY18FY19FY20FY21FY22FY23FY24FY25
ATRO $862.1MKRMN $471.5M
Net income
ATRO FY2018: $46.8MATRO FY2019: $52MATRO FY2020: -$115.8MATRO FY2021: -$25.6MATRO FY2022: -$35.7MATRO FY2023: -$26.4MATRO FY2024: -$16.2MATRO FY2025: $29.4MKRMN FY2022: -$14.1MKRMN FY2024: $4.4MKRMN FY2024: $12.7MKRMN FY2025: $17.4MFY18FY19FY20FY21FY22FY23FY24FY25
ATRO $29.4MKRMN $17.4M
Net margin
ATRO FY2018: 5.8%ATRO FY2019: 6.7%ATRO FY2020: -23.0%ATRO FY2021: -5.7%ATRO FY2022: -6.7%ATRO FY2023: -3.8%ATRO FY2024: -2.0%ATRO FY2025: 3.4%KRMN FY2022: -6.2%KRMN FY2024: 1.6%KRMN FY2024: 3.7%KRMN FY2025: 3.7%FY18FY19FY20FY21FY22FY23FY24FY25
ATRO 3.4%KRMN 3.7%
Revenue growth
ATRO FY2019: -3.8%ATRO FY2020: -35.0%ATRO FY2021: -11.5%ATRO FY2022: +20.2%ATRO FY2023: +28.8%ATRO FY2024: +15.4%ATRO FY2025: +8.4%KRMN FY2024: +24.0%KRMN FY2024: +23.0%KRMN FY2025: +36.6%FY19FY20FY21FY22FY23FY24FY25
ATRO +8.4%KRMN +36.6%
Free cash flow
ATRO FY2018: $38.6MATRO FY2019: $30.6MATRO FY2020: $29.9MATRO FY2021: -$11.6MATRO FY2022: -$36MATRO FY2023: -$31.6MATRO FY2024: $22.1MATRO FY2025: $43.1MKRMN FY2022: -$27.2MKRMN FY2024: $3.6MKRMN FY2024: $11.4MKRMN FY2025: -$42.5MFY18FY19FY20FY21FY22FY23FY24FY25
ATRO $43.1MKRMN -$42.5M

Fiscal years as each company reports them; the two may end in different months.

Questions about Astronics and Karman

Which is bigger by revenue, Astronics or Karman?

Astronics is bigger by revenue: $862.1M in fiscal 2025, against $471.5M for Karman in fiscal 2025.

Which keeps more of its revenue as profit, Astronics or Karman?

Astronics had a net margin of 3.4% in fiscal 2025; Karman had 3.7% in fiscal 2025.

Which grew revenue faster, Astronics or Karman?

In their latest fiscal years revenue changed by +8.4% at Astronics and +36.6% at Karman.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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