AeroVironment
AVAV · Aerospace & Defense
$123.25
4.7%Kratos Defense & Security Solutions
KTOS · Aerospace & Defense
$38.68
1.1%The short version
- AeroVironment is the larger business, with $2.0B of revenue in fiscal 2026 against $1.3B for Kratos Defense & Security Solutions.
- AeroVironment grew revenue faster (140.9%, against 18.5%).
- Kratos Defense & Security Solutions kept more of each dollar of sales as operating profit (1.9% operating margin, against −15.7% operating margin).
- AeroVironment turned more of its sales into free cash flow (−7.1% FCF margin, against −10.2% FCF margin).
- Kratos Defense & Security Solutions earned a higher return on the capital invested in it (1.2%, against −9.1%).
| Latest fiscal year | AVAV · FY26 | KTOS · FY25 |
|---|---|---|
| Size | ||
| Market cap | $6.1B | $7.4B |
| Revenue | $2.0B | $1.3B |
| Free cash flow | −$141M | −$137M |
| Net income | −$265M | $22.0M |
| Growth | ||
| Revenue growth | 140.9% | 18.5% |
| 5-year growth | 38.0% | 12.5% |
| Share count change | 74.2% | 9.5% |
| Profitability | ||
| Gross margin | 25.3% | 22.9% |
| Operating margin | −15.7% | 1.9% |
| Net margin | −13.4% | 1.6% |
| FCF margin | −7.1% | −10.2% |
| Return on capital | −9.1% | 1.2% |
| Return on equity | −10.0% | 1.3% |
| Balance sheet | ||
| Net debt | $115M | −$461M |
| Net debt / EBITDA | — | −6.4x |
| Dividends and buybacks | $0.0M | $0.0M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 3 | 4 |
FY17
AVAV $229M
KTOS $752M
FY18
AVAV $271M
KTOS $618M
FY19
AVAV $314M
KTOS $718M
FY20
AVAV $367M
KTOS $748M
FY21
AVAV $395M
KTOS $812M
FY22
AVAV $446M
KTOS $898M
FY23
AVAV $541M
KTOS $1.0B
FY24
AVAV $717M
KTOS $1.1B
FY25
AVAV $821M
KTOS $1.3B
FY26
AVAV $2.0B
KTOS —
AVAV
KTOS
FY17
AVAV 9.1%
KTOS −1.6%
FY18
AVAV 11.2%
KTOS 4.9%
FY19
AVAV 10.8%
KTOS 5.3%
FY20
AVAV 12.8%
KTOS 3.9%
FY21
AVAV 11.0%
KTOS 3.4%
FY22
AVAV −2.2%
KTOS −0.3%
FY23
AVAV −33.1%
KTOS 3.0%
FY24
AVAV 10.0%
KTOS 2.6%
FY25
AVAV 5.0%
KTOS 1.9%
FY26
AVAV −15.7%
KTOS —
AVAV
KTOS
FY17
AVAV −$17.3M
KTOS —
FY18
AVAV $60.3M
KTOS —
FY19
AVAV $18.1M
KTOS —
FY20
AVAV $13.9M
KTOS $8.8M
FY21
AVAV $75.3M
KTOS −$11.2M
FY22
AVAV −$31.9M
KTOS −$71.1M
FY23
AVAV −$3.5M
KTOS $12.8M
FY24
AVAV −$7.7M
KTOS −$8.5M
FY25
AVAV −$20.9M
KTOS −$137M
FY26
AVAV −$141M
KTOS —
AVAV
KTOS
FY17
AVAV —
KTOS −1.4%
FY18
AVAV —
KTOS 2.3%
FY19
AVAV —
KTOS 3.9%
FY20
AVAV —
KTOS 3.6%
FY21
AVAV —
KTOS 1.5%
FY22
AVAV −1.2%
KTOS −0.2%
FY23
AVAV −22.6%
KTOS 1.3%
FY24
AVAV 10.5%
KTOS 1.5%
FY25
AVAV 4.8%
KTOS 1.2%
FY26
AVAV −9.1%
KTOS —
AVAV
KTOS
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.