Saturday 17 October 2026 Export DRS’s income statement to Excel — free account

Leonardo DRS, Inc.

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.

35.47 0.00 0.00%

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Market cap: $9.5B
P/E: 29.1×
Fwd P/E: 37.8×
Dividend yield: —
F-score: 7/9
Altman Z: 3.74
Beneish M: −2.33
Dividend safety: 70/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 1.07

Total sells 9.16

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	1	—	—	—	—	—
Sell	—	2	3	—	4	3	1	5	1	1	2	—

Insider Ownership 71.41%

Capital & Financial Ratios $m

Market Cap 9,470.00

Revenue 3,779.00

Net Income 322.00

Free Cash Flow 364.00

Net Debt (121.00)

Current Ratio 1.92

Debt/Equity 0.05

P/E ratio 29.07

Fwd P/E 37.80

P/S ratio 2.50

P/B ratio 3.38

Past 5Y EPS Growth 51.28%

This Y EPS Growth 20.82%

Next Y EPS Growth 5.58%

Next Y revenue growth 8.28%

Next 5Y EPS Growth 11.92%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 33.42%

10-year low 10-year high

P/S against its own 10 years 45.19%

10-year low 10-year high

P/B against its own 10 years 56.21%

10-year low 10-year high

EV/Sales against its own 10 years 45.60%

10-year low 10-year high

EV/FCF against its own 10 years 7.73%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	Powerpack
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	467	598	647	270
Receivables	151	253	334	319
Inventory	329	358	352	383
Other	950	927	967	1,039
	1,918	2,163	2,326	2,040

	2023	2024	2025	Q'26
Payables	398	426	351	182
ST’ Debt	57	25	26	10
Other	623	665	854	873
	1,078	1,116	1,231	1,065

Compound Annual Growth %

	10y	5y	3y
Sales	74.33%	116.77%	10.65%
Cash Flow	0.00%	151.82%	123.01%
Earnings	0.00%	118.05%	(11.79%)
Book Value	76.97%	106.88%	8.68%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	846	913	—	—	—
’25	799	829	960	1,060	3,648
’24	688	753	812	981	3,234
’23	569	628	703	926	2,826
’22	612	627	634	820	2,693
’21	25	28	720	2,106	2,879
’20	15	18	20	23	76

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(66)	35	—	—	—
’25	(138)	(28)	107	425	366
’24	(265)	34	59	443	271
’23	(334)	(12)	36	515	205
’22	(255)	13	(4)	279	33
’21	—	9	(120)	289	178
’20	—	(5)	—	4	4

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(95)	6	—	—	—
’25	(170)	(56)	77	376	227
’24	(275)	0	48	414	187
’23	(348)	(24)	20	498	146
’22	(268)	4	(17)	249	(32)
’21	—	6	(159)	271	118
’20	—	(8)	—	(1)	(1)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.23	0.32	—	—	—
’25	0.19	0.20	0.26	0.38	1.03
’24	0.11	0.14	0.21	0.33	0.80
’23	0.05	0.13	0.18	0.28	0.64
’22	0.17	0.12	1.33	0.28	1.88
’21	0.08	0.20	0.24	0.10	0.73
’20	0.00	0.02	0.05	0.06	0.13

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	0.54	1.00	1.77	2.51	2.05	8.20	7.51	10.80	18.60	28.17	Analyst estimates 2026–2028 Powerpack
	High	1.78	3.86	3.20	5.80	10.70	14.80	16.70	20.95	37.99	49.31
People
People	Employees	93	112	117	167	198	242	6,400	6,600	7,000	7,300
	Revenue/emp, $m	0.14	0.23	0.24	0.27	0.38	11.90	0.42	0.43	0.46	0.50
Income, $m
Income, $m	Revenue	13	26	28	44	76	2,879	2,693	2,826	3,234	3,648
	Gross margin, %	11.25	31.56	36.44	35.95	37.18	19.00	21.35	22.93	22.76	23.82
	EBT	(5)	2	0	(2)	6	200	525	192	264	336
	EBT margin, %	(38.37)	6.98	0.65	(5.02)	7.40	6.95	19.49	6.79	8.16	9.21
	Net income	(5)	2	0	(2)	6	154	405	168	213	278
	Depreciation	1	1	1	1	2	58	65	85	91	93
Per share, $
Per share, $	Revenue	0.91	1.05	0.84	1.16	1.76	13.71	12.53	10.81	12.26	13.72
	Earnings	(0.35)	0.09	0.00	(0.05)	0.13	0.73	1.88	0.64	0.81	1.05
	Cash flow	(0.35)	0.07	(0.12)	(0.09)	0.08	0.85	0.15	0.78	1.03	1.38
	Capex	(0.03)	(0.07)	(0.03)	(0.12)	(0.11)	(0.29)	(0.30)	(0.23)	(0.32)	(0.52)
	Free cash flow	(0.38)	0.00	(0.14)	(0.21)	(0.03)	0.56	(0.15)	0.56	0.71	0.85
	Book value	0.79	1.17	1.26	1.09	1.66	7.59	9.89	8.89	9.70	10.27
	Shares, m	14	25	33	38	43	210	215	262	264	266
Valuation, ×
Valuation, ×	P/E	0.00	34.33	258.00	0.00	72.76	14.72	6.39	30.34	40.39	32.47
	P/S	1.35	2.95	3.05	4.47	5.54	0.69	0.97	1.82	2.63	2.48
	P/B	1.56	2.64	2.05	4.78	5.86	1.24	1.23	2.22	3.33	3.32
	EV/Sales	1.47	2.58	2.43	4.32	5.18	0.74	1.00	1.80	2.56	2.40
	EV/FCF	(2.23)	(7.42)	(21.91)	(10.72)	(16.12)	18.27	(84.32)	34.90	44.32	38.61
Cash, $m
Cash, $m	Operating cash flow	(5)	2	(4)	(3)	4	178	33	205	271	366
	Capex	0	(2)	(1)	(5)	(5)	(60)	(65)	(59)	(84)	(139)
	Free cash flow	(5)	0	(5)	(8)	(1)	118	(32)	146	187	227
Balance, $m
Balance, $m	Working capital	11	26	38	32	57	400	665	840	1,047	1,095
	Total debt	4	—	—	821	455	393	394	406	365	347
	Net debt	2	(13)	(21)	807	419	153	88	(61)	(233)	(300)
	Shareholders’ equity	11	29	42	41	72	1,593	2,127	2,325	2,557	2,730
Returns, %
Returns, %	ROA	(24.82)	7.85	0.36	(3.43)	6.56	9.70	12.01	4.42	5.26	6.41
	ROIC	(16.15)	7.54	0.19	(0.15)	0.70	8.45	15.83	6.38	7.88	8.95
	ROE	(48.88)	11.14	0.46	(4.88)	9.94	18.50	21.77	7.55	8.73	10.52

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
TXT Textron Inc.	$12.9B	14.3×	16.3×	+2.99% (above 0%: growing)	+5.19% (above 0%: growing)	−40.57% (below 0%: shrinking)	18.13%	6.98%	Compare
EMBJ Embraer-Empresa Brasileira de Aeronautica	$12.8B	29.3×	—	+22.87% (above 0%: growing)	+176.74% (above 0%: growing)	+287.11% (above 0%: growing)	19.90%	12.79%	Compare
BWXT BWX Technologies, Inc.	$12.6B	35.3×	42.0×	+18.01% (above 0%: growing)	+12.79% (above 0%: growing)	−8.98% (below 0%: shrinking)	22.44%	15.37%	Compare
MOG.A Moog Inc.	$11.6B	31.0×	36.7×	+15.16% (above 0%: growing)	+153.97% (above 0%: growing)	+67.52% (above 0%: growing)	31.10%	14.41%	Compare
HII Huntington Ingalls Industries, Inc.	$10.5B	16.2×	16.8×	+10.90% (above 0%: growing)	+36.53% (above 0%: growing)	−120.66% (below 0%: shrinking)	12.61%	6.76%	Compare
DRS Leonardo DRS, Inc.	$9.5B	29.1×	37.8×	+10.13% (above 0%: growing)	+65.00% (above 0%: growing)	+110.71% (above 0%: growing)	25.96%	11.17%
KTOS Kratos Defense & Security Solutions, Inc.	$7.7B	238×	313×	+30.53% (above 0%: growing)	0.00%	+12.42% (above 0%: growing)	21.82%	(0.35%)	Compare
SARO StandardAero, Inc.	$7.0B	21.5×	21.8×	+4.63% (above 0%: growing)	+42.86% (above 0%: growing)	+263.74% (above 0%: growing)	16.80%	10.53%	Compare
HXL Hexcel Corporation	$6.8B	45.1×	40.7×	+8.04% (above 0%: growing)	+282.35% (above 0%: growing)	+625.00% (above 0%: growing)	26.09%	13.72%	Compare
Median of peers	$11.1B	30.1×	36.7×	+13.03%	+39.70%	+39.97%	20.86%	11.66%

All 82 Aerospace & Defense stocks →

Leonardo DRS, Inc. (DRS) key facts

Strength: Leonardo DRS, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.6 billion, up 12.8% from fiscal 2024.
Leonardo DRS, Inc. (DRS) is an Aerospace & Defense company in the Industrials sector, listed on Nasdaq.
As of October 16, 2026, DRS traded at $35.47, a market capitalization of $9.5 billion.
Return on equity was 10.5% and debt-to-equity 0.05.
Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 3.74 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.