Kratos Defense & Security Solutions (KTOS)
Operating return on assets (Operating ROA)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 28,600 | 29,000 | 38,100 | 43,800 | 38,000 | 32,100 | 24,100 | 8,700 | 6,100 | 4,500 | 9,600 | 23,300 | 22,500 | 27,900 | 27,700 | 30,300 | 29,900 | 29,700 | 30,000 | 28,400 |
| Total assets | US$ in thousands | 2,004,900 | 1,950,900 | 1,912,400 | 1,914,200 | 1,914,600 | 1,632,500 | 1,590,800 | 1,562,800 | 1,557,100 | 1,551,500 | 1,568,100 | 1,583,300 | 1,565,500 | 1,589,500 | 1,577,800 | 1,562,300 | 1,565,200 | 1,562,800 | 1,473,200 | 1,419,200 |
| Operating ROA | 1.43% | 1.49% | 1.99% | 2.29% | 1.98% | 1.97% | 1.51% | 0.56% | 0.39% | 0.29% | 0.61% | 1.47% | 1.44% | 1.76% | 1.76% | 1.94% | 1.91% | 1.90% | 2.04% | 2.00% |
March 31, 2025 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $28,600K ÷ $2,004,900K
= 1.43%
The operating return on assets (ROA) for Kratos Defense & Security Solutions has exhibited notable fluctuations over the period from mid-2020 through early 2025. Initially, in June 2020, the operating ROA stood at approximately 2.00%, indicating a modest efficiency in generating operating income relative to total assets. This ratio experienced a slight upward movement through September 2020 to 2.04%, before declining to 1.90% by the end of 2020.
Throughout 2021, the operating ROA maintained a relatively stable pattern, fluctuating between roughly 1.76% and 1.94%. The highest point in this period was recorded in June 2021 at 1.94%, while the lowest occurred in September 2021 at 1.76%. The ratio remained steady at 1.76% at year-end.
In 2022, a downward trend became evident, with the ratio declining more noticeably. By March 2022, the operating ROA had decreased to approximately 1.44%, and further to 0.61% by September 2022. The decline persisted into December 2022, with the ratio dropping to a low of approximately 0.29%. The beginning of 2023 saw a slight recovery, with ratios in March and June rising back to about 0.39% and 0.56%, respectively.
The trend of modest recovery continued in late 2023, with continued increases in the ratio to 1.51% by September 2023 and nearly 2.00% by December 2023, reaching 1.97%. Within the first quarter of 2024, the ratio experienced a slight uptick to approximately 1.98%. The subsequent quarters showed a resurgence, with the operating ROA reaching approximately 2.29% in June 2024, before declining again to around 1.99% in September 2024 and decreasing further to approximately 1.49% by year-end. The first quarter of 2025 indicates a slight decline to approximately 1.43%.
Overall, the operating ROA for Kratos reflects periods of decline interrupted by partial recoveries, indicating volatility in operational efficiency relative to assets over this timeframe. The ratio’s trend suggests challenges in maintaining consistent operating profitability in relation to the asset base, with notable dips in late 2022 and early 2023, followed by intermittent recoveries in subsequent periods.
Peer comparison
Mar 31, 2025