Draganfly Inc. (DPRO) vs Merlin Inc (MRLN)

Draganfly Inc. and Merlin Inc are both Aerospace & Defense companies. Draganfly Inc. is the larger, with a market value of $110.0M against $78.3M — 1.4× the size. Draganfly Inc. has the higher net margin (−358.2% vs −3,463.5%) and the lower return on invested capital (−131.7% vs 0.00%). Across the 15 metrics below, Merlin Inc leads on 8 and Draganfly Inc. on 7.

Valuation

Metric DPRO MRLN Aerospace & Defense median
P/E n/m n/m 28.48
P/S 15.85 9.93 2.95
P/B 0.96 n/m 2.68
Price to free cash flow n/m n/m 31.70
EV/EBITDA n/m 1.01 16.85
EV/Sales 1.30 (11.24) 2.74
Earnings yield (27.66%) (394.76%) 0.89%
Free cash flow yield (26.21%) (94.27%) 0.00%

Profitability

Metric DPRO MRLN Aerospace & Defense median
Gross margin 15.35% 26.34% 26.41%
Operating margin (397.00%) (1,156.90%) 3.69%
Net margin (358.23%) (3,463.45%) 2.74%
Free cash flow margin (415.47%) (936.31%) 0.00%
Return on equity (37.72%) 0.00% 4.44%
Return on assets (35.52%) (239.99%) 1.90%
Return on invested capital (131.68%) 0.00% 0.26%

Growth

Metric DPRO MRLN Aerospace & Defense median
Revenue growth (TTM) 27.07% — 18.03%
EPS growth (last fiscal year) 67.60% 85.03% 24.80%
Revenue growth, 5-year CAGR 10.00% — 9.73%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric DPRO MRLN Aerospace & Defense median
Debt to equity 0.00 0.00 0.20
Current ratio 29.62 14.67 2.85
Net debt to EBITDA 4.40 0.24 1.29

Dividend

Metric DPRO MRLN Aerospace & Defense median
Dividend yield — — 0.91%
Payout ratio — — 0.30

Size

Metric DPRO MRLN Aerospace & Defense median
Market cap 109.98m 78.34m 1.78b

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