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Leonardo DRS, Inc.

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Key Metrics

Previous Close: $42.56
52-Week Range: $32.43 – $50.59
Market Cap: $10.94B
P/E (TTM): 34.45
EPS (TTM): 1.19
Dividend Yield: 0.85%

Advanced Metrics

Price/Book: 3.90
PEG Ratio: —
Return on Equity: 11.92%
Return on Assets: 6.04%
Gross Margin: 24.87%
Operating Margin: 11.17%
Profit Margin: 8.52%
Current Ratio: 1.92
Debt/Equity: 0.10
Total Debt: $267.00M
Free Cash Flow: $327.88M
Revenue Growth: 10.10%
Earnings Growth: 60.00%
Enterprise Value: $11.36B

DRS Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$2.69B	$2.83B	$3.23B	$3.65B
Cost of Revenue	$2.12B	$2.18B	$2.50B	$2.78B
Gross Profit	$575.00M	$648.00M	$736.00M	$869.00M
Selling, General & Admin	$357.00M	$384.00M	$414.00M	$497.00M
Operating Expenses	$14.00M	$417.00M	$443.00M	$521.00M
Operating Income	$561.00M	$231.00M	$293.00M	$348.00M
EBITDA	$624.00M	$313.00M	$376.00M	$437.00M
Pretax Income	$525.00M	$192.00M	$264.00M	$336.00M
Income Tax	$120.00M	$24.00M	$51.00M	$58.00M
Net Income	$405.00M	$168.00M	$213.00M	$278.00M
Diluted EPS	1.88	0.64	0.80	1.03
Diluted Shares	215.13M	264.18M	267.73M	268.73M

DRS Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$306.00M	$467.00M	$598.00M	$647.00M
Receivables	$1.04B	$1.06B	$1.13B	$1.26B
Inventory	$319.00M	$329.00M	$358.00M	$352.00M
Current Assets	$1.71B	$1.92B	$2.16B	$2.33B
Total Assets	$3.68B	$3.92B	$4.18B	$4.49B
Current Liabilities	$1.04B	$1.08B	$1.12B	$1.23B
Long-Term Debt	$365.00M	$349.00M	$340.00M	$321.00M
Total Debt	$487.00M	$497.00M	$458.00M	$470.00M
Total Liabilities	$1.55B	$1.60B	$1.63B	$1.76B
Retained Earnings	-$2.97B	-$2.81B	-$2.59B	-$2.31B
Shareholders' Equity	$2.13B	$2.33B	$2.56B	$2.73B
Working Capital	$665.00M	$840.00M	$1.05B	$1.09B
Net Debt	$88.00M	—	—	—

DRS Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$33.00M	$205.00M	$271.00M	$366.00M
Capital Expenditure	-$65.00M	-$60.00M	-$85.00M	-$139.00M
Free Cash Flow	-$32.00M	$145.00M	$186.00M	$227.00M
Depreciation & Amortisation	$65.00M	$85.00M	$91.00M	$93.00M
Stock-Based Compensation	$5.00M	$17.00M	$22.00M	$32.00M
Investing Cash Flow	$436.00M	-$59.00M	-$84.00M	-$154.00M
Financing Cash Flow	-$403.00M	$15.00M	-$56.00M	-$163.00M
Dividends Paid	-$396.00M	$0.00	$0.00	-$96.00M
Share Repurchases	$0.00	$0.00	$0.00	-$35.00M
Net Change in Cash	$66.00M	$161.00M	$131.00M	$49.00M

DRS Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$799.00M	$829.00M	$960.00M	$1.06B	$846.00M
Cost of Revenue	$618.00M	$632.00M	$738.00M	$791.00M	$634.00M
Gross Profit	$181.00M	$197.00M	$222.00M	$269.00M	$212.00M
Selling, General & Admin	$117.00M	$121.00M	$123.00M	$136.00M	$130.00M
Operating Expenses	$122.00M	$127.00M	$129.00M	$143.00M	$135.00M
Operating Income	$59.00M	$70.00M	$93.00M	$126.00M	$77.00M
EBITDA	$82.00M	$92.00M	$114.00M	$149.00M	$101.00M
Pretax Income	$58.00M	$67.00M	$87.00M	$124.00M	$77.00M
Income Tax	$8.00M	$13.00M	$15.00M	$22.00M	$15.00M
Net Income	$50.00M	$54.00M	$72.00M	$102.00M	$62.00M
Diluted EPS	0.19	0.20	0.26	0.38	0.23
Diluted Shares	268.77M	270.00M	268.43M	268.42M	269.57M

DRS Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$380.00M	$278.00M	$309.00M	$647.00M	$328.00M
Receivables	$1.24B	$1.28B	$1.38B	$1.26B	$1.30B
Inventory	$385.00M	$400.00M	$404.00M	$352.00M	$371.00M
Current Assets	$2.07B	$2.02B	$2.17B	$2.33B	$2.06B
Total Assets	$4.10B	$4.08B	$4.25B	$4.49B	$4.21B
Current Liabilities	$1.03B	$958.00M	$1.08B	$1.23B	$1.10B
Long-Term Debt	$335.00M	$331.00M	$326.00M	$321.00M	$140.00M
Total Debt	$452.00M	$472.00M	$471.00M	$470.00M	$271.00M
Total Liabilities	$1.52B	$1.48B	$1.60B	$1.76B	$1.44B
Retained Earnings	-$2.54B	-$2.49B	-$2.42B	-$2.31B	-$2.25B
Shareholders' Equity	$2.57B	$2.60B	$2.65B	$2.73B	$2.77B
Working Capital	$1.04B	$1.07B	$1.08B	$1.09B	$951.00M
Net Debt	—	$75.00M	$41.00M	—	—

DRS Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$138.00M	-$28.00M	$107.00M	$425.00M	-$66.00M
Capital Expenditure	-$32.00M	-$28.00M	-$30.00M	-$49.00M	-$30.00M
Free Cash Flow	-$170.00M	-$56.00M	$77.00M	$376.00M	-$96.00M
Depreciation & Amortisation	$23.00M	$23.00M	$23.00M	$24.00M	$24.00M
Stock-Based Compensation	$8.00M	$6.00M	$5.00M	$13.00M	$4.00M
Investing Cash Flow	-$32.00M	-$28.00M	-$45.00M	-$49.00M	-$29.00M
Financing Cash Flow	-$48.00M	-$46.00M	-$31.00M	-$38.00M	-$224.00M
Dividends Paid	-$24.00M	-$24.00M	-$24.00M	-$24.00M	-$24.00M
Share Repurchases	-$3.00M	-$11.00M	-$10.00M	-$11.00M	-$4.00M
Net Change in Cash	-$218.00M	-$102.00M	$31.00M	$338.00M	-$319.00M

Market Snapshot

About

Leonardo DRS, Inc. is a defense technology company providing advanced systems and services to military and government customers. The company operates through two main segments: Advanced Sensing and Computing, and Integrated Mission Systems. DRS develops and manufactures products including force protection systems, naval power and propulsion systems, electronic warfare systems, and intelligence and reconnaissance systems. The company is a subsidiary of Italian defense contractor Leonardo S.p.A. and primarily serves the U.S. Department of Defense. Leonardo DRS focuses on modernizing military platforms and enhancing operational capabilities.