Research has established posttraumatic growth as a potential outcome of highly stressful experiences such as combat. However, a deeper understanding of this relationship is needed to provide practical implications for clinical work and to influence new research directions. We examined the relation between combat experiences and posttraumatic growth along with its subscales, as well as the influence of posttraumatic stress disorder and depression symptom severity. The study contained a sample of 130 combat veterans representing a variety of deployment locations. Regression analysis revealed combat experiences to be associated with posttraumatic growth beyond the effect of age (β = 0.21; p = 0.014). In addition, the association between combat experiences and posttraumatic growth was most evident among those endorsing low levels of depression symptom severity (partial η squared = 0.07; p = 0.009). These results highlight the need to consider negative cognitions and other depressive symptoms as potential barriers to posttraumatic growth.