Kratos Defense & Security Solutions, Inc.
In the published model solve dated 2026-Q2, anchored at $46.77, Kratos Defense & Security Solutions, Inc. (KTOS) is priced for today's economics sustained for ~29.9 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
• Kratos builds low-cost military hardware, target drones, the Valkyrie combat drone, tactical jet engines, hypersonic and rocket systems, competing on affordability rather than premium engineering in a defense budget tilting toward exactly those categories. • The price is the defining risk: at a multiple of several hundred times its current operating income, the stock prices decades of flawless growth, because today's operating margin is barely above breakeven at 1.7%. • Watch backlog and the c
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691 institutional managers reported holding KTOS in 13F filings for the quarter ended 2026-03-31. Together they hold about 92% of the company; the top 10 hold 48%. 118 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 14.5M shares were sold short as of the 2026-06-15 count, about 8% of shares outstanding (3.6 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
KTOS's share count grew 41.8% over the past five years. It pays no dividend.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at KTOS over the trailing three years: 2024: 4 buys totaling $501k; 2025: 2 buys totaling $501k. 18 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
KTOS's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-04 | +12.8% | -8.9% |
| 2023-11-03 | +0.3% | +6.0% |
| 2024-02-14 | +13.1% | -14.7% |
| 2024-05-08 | +4.2% | +4.0% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
KTOS's latest 8-K filings: 2026-08-04 (items 2.02, 9.01); 2026-05-15 (items 5.07, 9.01); 2026-05-06 (items 2.02, 9.01); 2026-03-25 (items 5.02); 2026-03-06 (items 2.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.