Karman Holdings Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	17.37	12.7	4.36	-14.1
Depreciation & Amortization	42.74	32.8	27.18	34.98
Other Amortization	1.33	2.3	1.99	1.99
Stock-Based Compensation	1.41	0.99	1.29	1.6
Other Operating Activities	8.33	-12.19	-9.92	-9.02
Change in Accounts Receivable	-67.43	-20.35	-30.87	-34.83
Change in Inventory	2.86	-0.04	7.57	2.17
Change in Accounts Payable	-16.88	31.78	14.23	11.32
Change in Unearned Revenue	-7.15	-6.21	20.01	8.65
Change in Other Net Operating Assets	-4.68	-15.14	-15.5	-8.65
Operating Cash Flow	-22.12	26.65	20.33	-5.89
Operating Cash Flow Growth	-	31.08%	-	-
Capital Expenditures	-20.34	-15.25	-16.78	-21.27
Sale of Property, Plant & Equipment	-	0.31	-	-
Cash Acquisitions	-211.94	-31.29	-	-
Investment in Securities	-	-	0.56	0.01
Other Investing Activities	-6	-	-	-
Investing Cash Flow	-238.27	-46.24	-16.21	-21.26
Long-Term Debt Issued	535	76.5	41.54	17.5
Long-Term Debt Repaid	-400.13	-48.92	-39.78	-32.43
Net Debt Issued (Repaid)	134.87	27.58	1.75	-14.93
Issuance of Common Stock	156.31	-	-	31.77
Common Dividends Paid	-	-0.16	-0.79	-0.11
Other Financing Activities	-8.36	-1.76	-6.25	-
Financing Cash Flow	282.82	25.67	-5.29	16.73
Net Cash Flow	22.43	6.08	-1.17	-10.42
Free Cash Flow	-42.46	11.39	3.55	-27.16
Free Cash Flow Growth	-	220.75%	-	-
Free Cash Flow Margin	-9.00%	3.30%	1.26%	-12.00%
Free Cash Flow Per Share	-0.32	0.07	0.02	-0.17
Cash Interest Paid	44.82	47.87	45.9	35.62
Cash Income Tax Paid	16.92	-0.68	3.1	4.94
Levered Free Cash Flow	-41.06	15.71	6.05	-
Unlevered Free Cash Flow	-14.53	45.11	33.99	-
Change in Working Capital	-93.29	-9.96	-4.57	-21.35

Source: S&P Capital IQ. Standard template. Financial Sources.