Leonardo DRS, Inc.

Search, Detection, Navigation, Guidance, Aeronautical Sys

DRSMixed8 of 11 basics passed

$36.24

+1.03%

Market cap $9.67B

$36.24

+1.03%

Market cap $9.67B

Leonardo DRS Inc is a provider of defense products and technologies that are used across land, air, sea, space, and cyber domains. It is in the design, development, and manufacture of Advanced sensing, network computing, force protection, and electric power and propulsion technologies and solutions.

It is a $9.67B technology company. Revenue grew 10.5% over the last year, it keeps 9¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 30.0× earnings — in the cheapest third of its own history.

Website: leonardodrs.com
Location: Arlington, VA
Employees: 7 300
Sector: Technology
Founded: 1968

Share price · 3 years

$18.14 → $36.24+99.8%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $3.78B
Profit: keeps 9¢ of every $1 sold; $322M
Free cash flow: cash left after running the business; $363M
Net cash: more cash than debt; $300M
P/E: years of profit in the price; 30.0
EPS: earnings per share, TTM; $1.19
Dividend: pays out 30% of profit · 26% of FCF; 0.99%
Shares: up 28% since 2021 — dilution; 269.9M
Volatility: beta vs the market — under 1 swings less; 0.35

Revenue, last 5 years

52-week range

Low $32.55$36.24High $49.69

Today's price is 22% of the way from the year's low to its high.

P/E vs its history4y

30.0×median 37.0×

Higher than 25% of past days — in the cheapest third of its own history.

Valuation vs own history

P/E

30.0×

75%

P/S

2.6×

47%

EV/EBITDA

24.3×

71%

P/B

3.5×

44%

FCF yield

3.8%

95%

Share of the last ~5 years that was pricier than today (cheaper than usual). Based on the daily valuation record.

Insider activity · 90 days

-$1.21Mnet selling

Purchases$0

Sales$1.21M

Insiders trading, last 14d0 buy · 0 sell

Standing in Technology

Size$9.67Btop 89%
Revenue growth+11%top 51%
Net margin9%top 65%
Return on equity12%top 62%
P/E30.0×top 41%
Dividend yield0.99%top 48%

Ranked against 220 Technology companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong quality; Profitability and Moat lag behind.

Valuation64

P/E vs own history25th pct · 20/25
FCF yield3.8% · 12/25
P/S2.6x · 20/25
EV/EBITDA22.7x · 12/25

Growth64

Revenue CAGR6.1% · 12/25
Net income CAGR15.9% · 20/25
EPS CAGR ~5Y8.9% · 12/25
Fwd implied growth15.2% · 20/25

Profitability49

ROIC11.4% · 12/25
ROE11.8% · 12/25
Net margin8.5% · 13/25
Operating margin10.5% · 12/25

Health68

Altman Zn/a · 0/25
Current ratio1.92 · 18/25
Interest coverage43.0x · 25/25
Net cash / debtNet cash · 25/25

Quality92

Piotroski F7/9 · 22/25
Beneish M-2.50 · 20/25
FCF conversion113% · 25/25
Margin stabilityσ 4.7% · 25/25

Moat42

ROIC >12% years0/5 yrs · 0/25
Median gross margin22.8% · 6/25
FCF-positive years4/5 yrs · 18/25
Worst-year net marginworst 5.3% · 18/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2023Financial
Became debt-free
cash now exceeds total debt
FY2022Financial
Best year on record
$405M net income
2022Acquisition
The US subsidiary of the Italian defense conglomerate Leonardo, Leonardo DRS, agreed to an all share…
FY2021Financial
Profitable every year on record
5 consecutive profitable years in our data
FY2021Financial
Revenue already above $1B
$2.88B in first reported year
2008Acquisition
Originally founded as DRS Technologies, Inc. and traded on the NYSE, it was acquired by Leonardo's predecessor…
1981IPO
DRS went public in 1981 and acquired its first company in 1984
1968Founded
Diagnostic/Retrieval Systems, Inc (DRS) was founded in 1968 by Leonard Newman and David Gross, two engineers working…

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2022 would be worth ~$32 975 today — price return only

$3.6B revenue in FY2025

Revenue up 10.5% year over year

Profitable 5 years in a row

Positive free cash flow 3 years in a row

7 300 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

Revenue growing 10.5% year over year
Net cash position after subtracting debt from cash
Interest covered 43.0× by operating earnings
Piotroski F-Score 7/9 — fundamentally strong checklist

Watch-outs

Nothing stands out as a concern in the available data.

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

8 of 11 checks passed

Revenue growing — the company sells more than a year ago+10.5% YoY
Profitable — makes more than it spends$322M TTM
Profit growing — earnings are higher than last year-18.1% YoY
Generates cash — cash left after running and investing$363M TTM
Debt under control — could handle its obligationsmore cash than debt
Established company — not a micro-cap — lower blow-up risk$9.67B market cap
Not printing shares — share count not ballooning — you keep your slice+28.3% shares over ~5y
Proven track record — years of profitability behind it5/5 profitable years
Financially stable — balance sheet not near distresshealth score 43/100
Pays a dividend — returns cash to shareholdersyield 0.99%
Valuation not extreme — price not wildly above earningsP/E 30.0

Peer comparisonLeonardo DRS, Inc. vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
DRS this company	$9.7B	30.0	+10.5%	8.5%	Mixed
NVDA Nvidia Corp	$5.5T	28.6	+83.4%	63.7%	Mixed
AAPL Apple Inc.	$4.9T	38.1	+14.2%	27.6%	Strong
GOOGL Alphabet Inc.	$4.3T	17.6	+20.1%	54.8%	Mixed
MSFT Microsoft Corp	$4.0T	29.7	+17.8%	40.3%	Strong
SPCX Space Exploration Technologies Corp.	$2.1T	—	+33.2%	-34.0%	Strained
META Meta Platforms, Inc.	$1.8T	26.9	+27.7%	29.8%	Mixed

Head-to-head: DRS vs NVDA · DRS vs AAPL · DRS vs GOOGL

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 5Buy 7Hold 3

Appendix · Financial records

The full statements behind this CV, FY2021–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $3.78B · net income $322M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$3.78B

YoY 10.5%

Net income (TTM)

$322M

Margin 8.5%

Gross margin

24.9%

Operating margin

10.5%

P/E ratio

30.0

Dividend yield

0.99%

Income statement — full detail

Figures in USD billions · EPS in USD

	2021	2022	2023	2024	2025
Revenue	2.9	2.7	2.8	3.2	3.6
Gross profit	0.5	0.6	0.6	0.7	0.9
Operating income (EBIT)	0.2	0.2	0.2	0.3	0.3
Net income	0.2	0.4	0.2	0.2	0.3
EPS (diluted)	0.73	1.88	0.64	0.80	1.03

Cash flowFree cash flow $363M · operating cash flow $501M (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$363M

Margin 9.6%

Operating cash flow (TTM)

$501M

FCF margin

9.6%

Cash flow statement — full detail

Figures in USD billions

	2021	2022	2023	2024	2025
Operating cash flow	0.2	0.0	0.2	0.3	0.4
Capital expenditure	-0.1	-0.1	-0.1	-0.1	-0.1
Free cash flow	0.1	-0.0	0.1	0.2	0.2
FCF margin	4.1%	-1.2%	5.1%	5.8%	6.2%

Balance sheetAssets $4.49B · net cash $300M (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $4.49B of assets is financed

39%

61%

Liabilities $1.76B — borrowed moneyEquity $2.73B — owners' stake

Cash vs debt

Total debt $347M − cash $647M = net cash $300M

Cash on hand covers all debt.

Debt repayment

Not needed

Cash already covers all debt

Interest coverage

43.0x

EBIT ÷ interest expense

ROE

11.8%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2021	2022	2023	2024	2025
Cash & equivalents	0.2	0.3	0.5	0.6	0.6
Total assets	3.1	3.7	3.9	4.2	4.5
Total liabilities	1.5	1.6	1.6	1.6	1.8
Total debt	0.4	0.4	0.4	0.4	0.3
Equity	1.6	2.1	2.3	2.6	2.7
Net debt	0.2	0.1	-0.1	-0.2	-0.3

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of DRS on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $36.24 · market cap $9.67B.