Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.41, read 2026-10-23
Ethical does not pass the values gate
Price36.65 USD
Fair value49.50
Ethical score30.0/100
Our investment reviews on this name
2026-10-25Read Markup33.91+8.1% to today ✓Distribution gives way to Markup after a 12% rise in 7 days
2026-10-18Read Distribution30.15+21.6% to today Markdown gives way to Distribution after an 8% slide in 7 days
2026-10-11Read Markdown32.86+11.5% to today Distribution gives way to Markdown after a 31% slide in 14 weeks
2026-07-02Read Distribution47.83-23.4% to today ✓First review on file: Distribution
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Karman Holdings Inc. holds its Markup at $36.65. The statistical read favours the sellers, held for 49 days.
As held on the ledger · 2026-10-23
Phase
Markup
Quantitative state
The statistical read favours the sellers, held for 49 days
Price at the screen
$36.65
Valuation
121.11 trailing · 35.69 forward price to earnings
Values screen
FAIL· score 30.0
The Workings
Five Screens, Shown in Full
Does not pass. Prohibited business activity: Aerospace & Defense
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Prohibited business activity: Aerospace & Defense
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Karman does not clear the screen at the business-activity stage. It operates in aerospace and defense, so the financial ratios are not the deciding factor here.
Read as at 2026-10-27. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when KRMN's ethical verdict changes
Today KRMN does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Fair value range in USD, drawn from the 2026-10-23 screen. The gold marker is the market price at the same screen. A 46.0% margin of safety to the base estimate.
Third-party analyst targets: 12 covering, consensus Strong Buy. The average target sits +118% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-23 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Defense Maker Hits Ethical Wall Despite Growth
Picture a supplier whose parts ride every new space launch or missile test. Karman builds the protective shells, stages and propulsion bits that keep those systems intact. Revenue is rising 51 percent, yet the company fails our ethical screen outright because it operates in aerospace and defence.
That single failure overrides the headline numbers. Forward earnings sit at 49.9 times, margins are only 6 percent and return on equity is 8 percent. Analysts may cluster around a much higher target, but none of those figures matter once the business line is ruled out.
The valuation gap to our fair value looks wide on paper, yet the ethical block is permanent rather than temporary. Currency or cycle swings cannot fix it. Analysis, not advice.
The risks · The things to watch: it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
KRMN trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-25Markup · changed$33.91+12.5%Entry 9
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 12.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (10 analysts) rates it buy, with a mean price target of $106.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 8.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (10 analysts) rates it buy, with a mean price target of $106.
2026-10-11Markdown · changed$32.86+0.0%Entry 7
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (10 analysts) rates it buy, with a mean price target of $106.
2026-10-02Distribution$32.86-36.0%Entry 6
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 36.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (10 analysts) rates it buy, with a mean price target of $106.
2026-09-03Distribution$51.37+6.7%Entry 5
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 6.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (10 analysts) rates it buy, with a mean price target of $106.
2026-08-04Distribution$48.15+0.7%Entry 4
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 0.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (10 analysts) rates it buy, with a mean price target of $106.
2026-07-18Distribution$47.83+0.0%Entry 3
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (10 analysts) rates it buy, with a mean price target of $106.
2026-07-03Distribution$47.83+0.0%Entry 2
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Distribution$47.83Entry 1
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
