Kratos Defense & Security Solutions (KTOS) FY2023 results: revenue $1.0 billion, up 15.5% on the year
Kratos Defense & Security Solutions, Inc. (KTOS) reported revenue of $1.0 billion for fiscal 2023, the year ended 31 December 2023, up 15.5% on the year before. Net income was -$9 million, and diluted earnings per share $-0.07. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2024.
Revenue
$1.0 billion
+15.5% on the year
FY2016FY2023
Operating margin
3.0%
-0.3% a year earlier
FY2016FY2023
Net income
-$9 million
FY2016FY2023
Diluted EPS
-$0.07
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
65.2
-25.7
30.8
Capital expenditure
52.4
45.4
46.5
+15.4%
Free cash flow
12.8
-71.1
-15.7
Free cash flow margin
1.2%
-7.9%
-1.9%
Cash from investing
-43.8
-177
-52.1
Cash from financing
-30.7
-63.3
-9.3
Depreciation and amortisation
33.2
30.5
25.7
+8.9%
Share-based compensation
25.3
26.3
25.8
-3.8%
Diluted shares, weighted
130m
127m
128m
+2.9%
Shares outstanding at period end
129m
126m
124m
+2.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
976
936
945
+4.2%
Non-controlling interest
22.5
n/a
n/a
Redeemable equity
22.5
11.2
15.2
+100.9%
Debt
219
250
297
-12.4%
Operating lease liabilities
37.8
40.8
32.7
-7.4%
Finance lease liabilities
50.9
49.9
43.2
+2.0%
Other liabilities
304
263
257
+15.4%
Total liabilities and equity
1,632
1,552
1,590
+5.2%
Goodwill
569
558
494
+2.0%
Intangible assets
62.4
55.2
43.2
+13.0%
Cash and equivalents
72.8
81.3
349
-10.5%
Receivables
129
106
93.9
+21.9%
Other assets
799
751
609
+6.4%
Total assets
1,632
1,552
1,590
+5.2%
10-K for the year ended 31 December 2023, filed 13 February 2024: the filing.