Saturday 17 October 2026
Export DRS’s income statement to Excel — free account
Leonardo DRS, Inc.
DRS Industrials Aerospace & Defense
Leonardo DRS, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.6 billion, up 12.8% from fiscal 2024. In the quarter to June 2026, revenue grew 10.1%, EPS grew 65.0%, free cash flow grew 110.7% and total debt fell 57.8%, each against the same quarter a year earlier. Revenue growth for three consecutive years, operating cash flow growth for three; insiders bought in the last twelve months.
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
32.47 | 40.39 | 30.34 | 6.39 | 14.72 | 72.76 | 0.00 | 258.00 | 34.33 | 0.00 |
Piotroski F-Score |
7 | 7 | 6 | 6 | 6 | 7 | 1 | 3 | 7 | 2 |
P/S ratio |
2.48 | 2.63 | 1.82 | 0.97 | 0.69 | 5.54 | 4.47 | 3.05 | 2.95 | 1.35 |
Altman Z-Score |
3.74 | 3.58 | 2.14 | 1.38 | 0.79 | 7.83 | 4.52 | 3.78 | 5.50 | (3.60) |
Altman Z″-Score (non-manufacturers) |
2.07 | 1.74 | 1.00 | 1.02 | (0.66) | 3.76 | 0.88 | 3.73 | 2.54 | (8.78) |
P/FCF ratio |
39.93 | 45.56 | 35.32 | 0.00 | 16.96 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Beneish M-Score |
(2.33) | (1.99) | (2.67) | (2.01) | 31.80 | (1.97) | 11.77 | (2.15) | (2.20) | (1.83) |
P/Operating CF |
21.33 | 19.23 | 10.01 | 9.36 | 6.85 | 116.87 | (57.21) | (22.19) | 44.78 | (3.51) |
Dividend Safety Score |
70 | — | — | — | — | — | — | — | — | — |
P/B ratio |
3.32 | 3.33 | 2.22 | 1.23 | 1.24 | 5.86 | 4.78 | 2.05 | 2.64 | 1.56 |
Price to Tangible BV |
6.57 | 7.18 | 5.51 | 3.63 | 4.21 | 5.91 | 4.85 | 2.07 | 2.70 | 1.65 |
EV/Sales |
2.40 | 2.56 | 1.80 | 1.00 | 0.74 | 5.18 | 4.32 | 2.43 | 2.58 | 1.47 |
EV/EBITDA |
19.87 | 21.58 | 16.13 | 4.31 | 7.29 | 72.12 | 0.00 | 1,100.65 | 34.08 | 0.00 |
EV/Operating CF |
23.95 | 30.58 | 24.86 | 81.76 | 11.73 | (33.01) | (17.10) | 84.98 | (11.47) | (2.46) |
EV/FCF |
38.61 | 44.32 | 34.90 | (84.32) | 18.27 | (16.12) | (10.72) | (21.91) | (7.42) | (2.23) |
Quick Ratio |
0.80 | 0.76 | 0.57 | 0.45 | 0.40 | 2.07 | 1.82 | 3.21 | 3.51 | 1.28 |
Current Ratio |
1.89 | 1.94 | 1.78 | 1.64 | 1.40 | 3.24 | 2.96 | 4.46 | 5.21 | 2.78 |
Net Debt/EBITDA |
(0.68) | (0.61) | (0.19) | 0.14 | 0.52 | 53.93 | (916.89) | (24.66) | (4.86) | (0.75) |
Debt/Assets |
7.74% | 8.72% | 10.35% | 10.72% | 12.81% | 426.03% | 1,264.73% | 0.00% | 0.00% | 17.38% |
Debt/Equity |
0.13 | 0.14 | 0.17 | 0.19 | 0.25 | 6.32 | 19.82 | 0.00 | 0.00 | 0.33 |
Asset Turnover |
0.84 | 0.80 | 0.74 | 0.80 | 1.81 | 0.89 | 0.75 | 0.63 | 0.92 | 0.65 |
Operating CF/Net income |
1.32 | 1.27 | 1.22 | 0.08 | 1.16 | 0.64 | 1.70 | (23.67) | 0.77 | 1.00 |
Capex/Depreciation |
(1.49) | (0.92) | (0.69) | (1.00) | (1.03) | (2.16) | (3.72) | (1.19) | (2.79) | (0.74) |
Interest Coverage |
43.50 | 13.95 | 6.42 | 16.50 | 6.74 | (32.77) | (17.38) | (0.52) | 12.71 | (2.23) |
| 10.52% | 8.73% | 7.55% | 21.77% | 18.50% | 9.94% | (4.88%) | 0.46% | 11.14% | (48.88%) | |
| 6.41% | 5.26% | 4.42% | 12.01% | 9.70% | 6.56% | (3.43%) | 0.36% | 7.85% | (24.82%) | |
ROIC |
8.95% | 7.88% | 6.38% | 15.83% | 8.45% | 0.70% | (0.15%) | 0.19% | 7.54% | (16.15%) |
Return on Tangible Assets |
17.30% | 14.32% | 13.53% | 37.89% | 20.16% | 7.97% | (4.96%) | 0.38% | 7.58% | (35.69%) |
Average Days of Receivables |
33.42 | 28.55 | 19.50 | 22.50 | 19.78 | 75.34 | 127.11 | 180.83 | 120.04 | 183.65 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 11.61% | 15.59% | 11.38% | 6.02% | 5.91% |
Selling, General and Administrative Expense of Revenue |
13.62% | 12.80% | 13.59% | 13.26% | 10.18% | 18.35% | 25.10% | 24.48% | 17.97% | 31.85% |
Intangible Assets out of Total Assets |
0.30 | 0.33 | 0.35 | 0.38 | 0.37 | 10.45 | 17.35 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
0.88% | 0.68% | 0.60% | 0.19% | 0.10% | 1.88% | 2.59% | 3.20% | 2.14% | 0.87% |
Graham Net Nets |
0.06 | 0.06 | 0.06 | 0.06 | (0.04) | 0.11 | 0.12 | 0.43 | 0.32 | 0.43 |
Graham Number |
15.57 | 13.21 | 11.40 | 20.56 | 10.45 | 2.24 | 0.00 | 0.53 | 1.54 | 0.00 |
Earnings Yield |
3.08% | 2.48% | 3.30% | 15.64% | 6.79% | 1.37% | (0.92%) | 0.39% | 2.91% | (38.21%) |
Free Cash Flow Yield |
2.50% | 2.19% | 2.83% | (1.23%) | 5.90% | (5.80%) | (9.02%) | (3.64%) | (11.82%) | (49.08%) |
Revenue per Share |
13.72 | 12.26 | 10.81 | 12.53 | 13.71 | 1.76 | 1.16 | 0.84 | 1.05 | 0.91 |
Operating CF per Share |
1.38 | 1.03 | 0.78 | 0.15 | 0.85 | 0.08 | (0.09) | (0.12) | 0.07 | (0.35) |
Capex per Share |
(0.52) | (0.32) | (0.23) | (0.30) | (0.29) | (0.11) | (0.12) | (0.03) | (0.07) | (0.03) |
Free Cash Flow per Share |
0.85 | 0.71 | 0.56 | (0.15) | 0.56 | (0.03) | (0.21) | (0.14) | 0.00 | (0.38) |
Cash per Share |
2.43 | 2.27 | 1.79 | 1.42 | 1.14 | 0.85 | 0.37 | 0.64 | 0.51 | 0.11 |
Shareholders Equity per Share |
10.27 | 9.70 | 8.89 | 9.89 | 7.59 | 1.66 | 1.09 | 1.26 | 1.17 | 0.79 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
10.27 | 9.70 | 8.89 | 9.89 | 7.59 | 1.66 | 1.09 | 1.26 | 1.17 | 0.79 |
Free Cash Flow |
227.00 | 187.00 | 146.00 | (32.00) | 118.00 | (1.33) | (8.01) | (4.81) | (0.05) | (5.33) |
Working Capital |
1,095.00 | 1,047.00 | 840.00 | 665.00 | 400.00 | 56.78 | 31.81 | 37.84 | 25.64 | 11.11 |
Capital Expenditures |
(139.00) | (84.00) | (59.00) | (65.00) | (60.00) | (4.95) | (4.55) | (0.95) | (1.78) | (0.41) |
Net Current Asset Value |
570.00 | 536.00 | 322.00 | 157.00 | (87.00) | 47.25 | 24.54 | 37.15 | 24.88 | 7.37 |
EV/EBIT |
25.19 | 28.28 | 22.06 | 4.81 | 9.03 | 72.12 | 0.00 | 1,100.65 | 34.08 | 0.00 |
Capex to Sales |
0.04 | 0.03 | 0.02 | 0.02 | 0.02 | 0.06 | 0.10 | 0.03 | 0.07 | 0.03 |
Price to Operating Income |
26.05 | 29.08 | 22.32 | 4.65 | 8.38 | 77.18 | 0.00 | 1,380.92 | 38.89 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.18 | 0.21 | 0.21 | 0.16 | 0.16 | 0.16 | 0.13 | 0.17 | 0.16 | 0.21 |
Cash ROIC |
6.10% | 5.31% | 4.57% | (1.13%) | 5.30% | (0.24%) | (0.91%) | (7.62%) | (0.13%) | (32.91%) |
Accounts Receivable Turnover |
12.43 | 16.01 | 17.83 | 16.73 | 33.53 | 4.89 | 3.02 | 2.49 | 3.48 | 2.05 |
Accounts Payable Turnover |
7.15 | 6.06 | 5.09 | 4.53 | 9.34 | 2.84 | 2.50 | 2.34 | 3.49 | 2.49 |
Inventory Turnover |
7.83 | 7.27 | 6.72 | 8.08 | 19.95 | 2.08 | 2.00 | 1.86 | 2.39 | 1.78 |
Average Days of Payables |
46.10 | 62.25 | 66.70 | 78.76 | 74.97 | 155.95 | 170.11 | 194.45 | 116.47 | 145.76 |
Days of Inventory on Hand |
46.23 | 52.31 | 55.14 | 54.97 | 32.09 | 219.41 | 221.05 | 230.35 | 161.12 | 227.81 |
Average Receivables |
293.50 | 202.00 | 158.50 | 161.00 | 85.87 | 15.59 | 14.66 | 11.25 | 7.53 | 6.25 |
Average Payables |
388.50 | 412.00 | 427.50 | 468.00 | 249.73 | 16.85 | 11.36 | 7.61 | 5.13 | 4.56 |
Average Inventory |
355.00 | 343.50 | 324.00 | 262.00 | 116.89 | 22.99 | 14.22 | 9.58 | 7.51 | 6.40 |
Average Assets |
4,335.00 | 4,052.50 | 3,799.00 | 3,373.00 | 1,587.95 | 85.91 | 59.21 | 44.77 | 28.51 | 19.78 |
Average Common Equity |
2,643.50 | 2,441.00 | 2,226.00 | 1,860.00 | 832.52 | 56.73 | 41.64 | 35.52 | 20.11 | 10.04 |
Columns are period end dates