KTOS // Kratos Defense & Security Solutions Inc.

DES <GO> NASDAQ CIK 0001069258 ↗

Industrials • Military/Government/Technical

$43.59 ▲ +2.42 (+5.88%)

MKT CAP: $8.18B • VOL: 6.25M

52W L $36 52W H $134

ALTMAN Z

11.11 SAFE

PIOTROSKI

5 / 9

KTOS // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE

PRIOR: RQD 61/100 [C-] (-1 PT) • UNCHANGED AS OF 2026-11-01

ROARABLE C-

RQD CONFIDENCE

60 / 100 -1D

5 X 20-PT QUANT PILLARS

E 0 D 35 C 59 B 70 A 86+

Roarable Hold — Cautious Neutral

01 MASSIVE / SEC XBRL

Forensic Fundamentals

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

02 OPRA GEX + SEC 13F

Whale & Options Flow

10 / 20

NEUTRAL

NET GEX +0% • CALL SWEEP 52% • P/C 0.66

03 SEC FORM 4 (90D)

Insider Conviction

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

04 FRED 90D r-MATRIX

Macro Regime Fit

17 / 20

STRONG

TAILWIND • r(10Y)=+0.00 (+23bp) • r(OAS)=+0.00

05 10-K REDLINE AUDIT

Forensic 10-K Risk

15 / 20

SOLID

20 BASE - 5 DEDUCT • 0 CRIT / 0 MED • STABLE

ALERT

Why did KTOS's Forensic Fundamentals & Insider Conviction sub-score just flash a warning? Enter your email to unlock the full 5-Pillar Rating Breakdown + get instant alerts whenever KTOS is Upgraded or Downgraded.

SIG <GO> CROSS-FEED TRIANGULATION // PROPRIETARY ANOMALY ENGINE (1 ACTIVE ON KTOS)

STAGE 2 DETERMINISTIC Z-SCORE + STAGE 3 GEEK DESK BRIEF ALL MARKET ANOMALIES <SIG>

▼ BEARISH // F-RATED EARNINGS MIRAGE // ACCRUAL WATCHSIFTER 02 // ACCRUAL & RECEIVABLES FORENSICS

SEVERITY: 88/100 Z-SCORE: +2.93σ

KTOS Accounting Gap: Net Income (+35%) Outpaced OCF (-120%) With +10.9% Working-Capital Build

CASH CONVERSION GAP

+155.0% (NI vs OCF)

RECEIVABLES / WC BLOAT

+10.9% VS REV

60D C-SUITE FORM 4 SALES

0 OPEN-MKT DUMPS

[GEEK DESK FORENSIC NOTE // SEC XBRL × FORM 4 CROSS-CHECK]

SEC EDGAR XBRL CompanyFacts10-K/10-Q Working Capital ScheduleSEC Form 4 Executive Sales

SEC EDGAR XBRL triangulation on Kratos Defense & Security Solutions Inc. (KTOS) exposes a +155.0% Cash Conversion Gap as YoY Net Income growth (+35.0%) diverged from Operating Cash Flow growth (-120.0%). Non-cash current assets and receivables expanded +10.9% relative to top-line revenue growth. Monitor upcoming 10-Q cash realization closely for accrual mean-reversion.

KTOS // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -34.83%📐 HORIZONTAL RANGE

2026-10-30O $42.67H $43.21L $40.28C $41.09VOL 3.41M

RES: $67.37SUP: $35.80SMA50: $45.16SMA200: $64.18

KTOS // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE

UNDERWEIGHT CONVICTION: 28/100

BEAR 0

100 BULL

Kratos Defense & Security Solutions Inc. (KTOS) exhibits 22.9% gross margins and 1.4% return on invested capital within Industrials (Military/Government/Technical), balanced against a 95.0x enterprise multiple and 6.9% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)

01. Operating Leverage & Capital Efficiency Moat

Sustained 22.9% gross profitability converts into 1.9% operating margin and 1.4% ROIC, outpacing sector cost of capital.

ROIC: 1.4% // GM: 22.9%

02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +18.5% paired with -1.26% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +18.5% // FCF YLD: -1.26%

03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 11.11 and Piotroski F-Score of 5/9 indicate low near-term refinancing stress.

ALTMAN Z: 11.11 // F-SCORE: 5/9

▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)

01. Multiple Compression & Duration Sensitivity

Trading at 185.0x trailing P/E (140.0x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 185.0x // EV/EBITDA: 95.0x

02. Options Skew & Event Volatility Risk

Options market prices a ±6.9% implied move with a 0.66 put/call ratio around $43.00 max pain.

IMPL MOVE: ±6.9% // P/C: 0.66

03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Military/Government/Technical require continuous execution to defend 1.6% net margins.

NET MARGIN: 1.6% // D/E: 0.00x

KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs 140.0x forward consensus, and institutional 13F positioning.

MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 1.01).

FORM 4 & 13F FLOW OPEN OWN <GO>

FILER	SIDE	$ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>

UNUSUAL OPTIONS TAPE OPEN OPT <GO>

STRIKE / EXP	TYPE	PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>

KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>

TRAILING P/E 185.0x

FORWARD P/E 140.0x

EV / EBITDA 95.0x

FCF YIELD -1.26%

GROSS MARGIN 22.9%

OPERATING MARGIN 1.9%

NET MARGIN 1.6%

ROIC % 1.4%

REV GROWTH YOY +18.5%

DILUTED EPS TTM $0.12

DEBT / EQUITY 0.00x

DIVIDEND YIELD 0.00%

RSI-14 MOMENTUM 45.9

5Y EQUITY BETA 1.01

FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>

MACRO CORRELATION CALIBRATION ACTIVE BELOW.

FRED MACRO REGIME STRESS-TEST SIMULATOR // KTOSPEARSON R VARIANCE ENGINE

01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO

02 // POSITION NOTIONAL EXPOSURE

HEADLINE STRESS SCORE

75/100SEVERE DRAWDOWN PRESSURE

PRIMARY FACTOR EXPOSURE

DFII10 // -0.61 r

Latest: 2.08%

EST. DIRECTIONAL MOVE

-8.50%

Implied Px: $39.89

EST. DOLLAR VARIANCE

-$4,248

On $50,000 Notional

[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for KTOS & activate live FRED threshold breach alerts.

HEAD-TO-HEAD PEER COMPARISONS COMP <GO>

KTOS VS BRK-A

MARGINS ROIC VALUATION

KTOS VS CAT

MARGINS ROIC VALUATION

KTOS VS RTX

MARGINS ROIC VALUATION

KTOS VS TMO

MARGINS ROIC VALUATION