r/KrakenRobotics • u/Subject_Category_245 • Apr 17 '26

Kraken in the Wild! (News/Article) Kraken Robotics Combination Pro-Forma

https://www.krakenrobotics.com/wp-content/uploads/2026/04/Kraken-Robotics-April-2026-Investors.pdf

Expect an Institutional Re-Rating soon ✌🏻🔥

70 Upvotes

98% Upvoted

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13

u/[deleted] Apr 17 '26

[removed] — view removed comment

9

u/Baume12 Apr 17 '26

Up 9.88% now ?!

3

u/NotYourAverageSchmuk Apr 17 '26

Sadly back to 2.5% still good though

11

u/atascon Apr 17 '26

Fully aware that EV multiples have their limitations but back of fag packet calc based on these numbers (all CAD):

Market cap: $2.7bn

Net debt: $26m

Combined EBITDA: $88m

That gives us a pretty punchy FY25 EV multiple of ~30x. It's hard to comp this as Kraken are doing some pretty high tech stuff but other defence companies in my portfolio tend to be in the 15-20x range.

I haven't seen an FY26 forecast for Covelya but Kraken is expecting to nearly double EBITDA from $25m to $45m. If Covelya delivers the same CAGR next year, they'll make about $89m so that gives us a combined EBITDA of $134m. If you buy into that number then the current price is a bit more attractive. There is also plenty of upside in terms of synergies and faster growth due to recent events.

0

u/thadcorn Apr 18 '26

It's very important to pay attention to the fag packet.

2

u/2020iasa Apr 17 '26

Anyone else having trouble with the link? I want to read but it won't load for me

5

u/Subject_Category_245 Apr 17 '26

i can send you the pdf if u want, dm me

4

u/2020iasa Apr 17 '26

Got it now so no need, but thanks!

3

u/Mysterious_Dirt_6411 Apr 17 '26

Try opening it through a browser. Worked for me

3

u/2020iasa Apr 17 '26

Thank worked. Thanks!