Leonardo DRS, Inc. logo DRS - Leonardo DRS, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY 0
BUY 7
HOLD 2
SELL 0
STRONG
SELL 0
| PRICE TARGET: $53.33 DETAILS
HIGH: $59.00
LOW: $47.00
MEDIAN: $54.00
CONSENSUS: $53.33
UPSIDE: 18.72%
Annual Quarterly
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q3 2019 Q2 2019 Q1 2018 Q3 2018 Q2 2018 Q1
Revenue
Revenue 846 1,060 960 829 799 981 812 753 688 926 703 628 569 820 634 627 612 820 720 658 681 826 719 650 583 678.5 678.5 678.5 583.2 583.2 583.2
Cost of Revenue 639 797 738 632 618 746 633 584 535 716 541 483 438 636 504 500 478 667 589 531 545 669 597 541 477 563.8 563.8 563.8 479.8 479.8 479.8
Gross Profit 207 263 222 197 181 235 179 169 153 210 162 145 131 184 130 127 134 153 131 127 136 157 122 109 106 114.8 114.8 114.8 103.5 103.5 103.5
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 130 136 123 121 117 108 98 107 101 98 96 90 100 96 101 84 76 68 73 73 79 69 72 74 68 74 74 74 92.2 92.2 92.2
Other Expenses 0 1 6 6 5 7 6 7 9 7 7 13 6 1 (347) 1 2 4 5 3 6 9 13 5 3 0 0 0 0 0 0
Operating Expenses 130 137 129 127 122 115 104 114 110 105 103 103 106 97 (246) 85 78 72 78 76 85 78 85 79 71 74 74 74 92.2 92.2 92.2
Operating Income
Operating Income 77 126 93 70 59 120 75 55 43 105 59 42 25 87 376 42 56 81 53 51 51 79 37 30 35 40.8 40.8 40.8 11.2 11.2 11.2
Interest Expense 0 1 4 2 1 4 5 7 5 9 10 9 8 7 9 10 8 8 9 9 9 15 17 17 15 16 15 14 14.5 14.5 14.5
Interest Income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 101 150 114 92 82 138 97 77 64 126 79 62 46 102 393 58 71 95 68 66 64 91 50 47 41 52.8 52.8 52.8 42.2 42.2 42.2
EBIT 77 126 91 69 59 115 74 54 42 104 58 42 24 85 376 42 56 81 52 52 50 78 36 34 28 40 40 40 10.2 10.2 10.2
Income Before Tax 77 124 87 67 58 111 69 47 37 95 48 33 16 78 367 32 48 73 43 43 41 63 19 17 13 23.8 23.8 23.8 (4.2) (4.2) (4.2)
Income Tax Expense 15 22 15 13 8 22 12 9 8 21 1 (2) 4 13 88 7 12 15 8 11 12 16 4 4 3 5 5 5 (1.8) (1.8) (1.8)
Net Income 62 102 72 54 50 89 57 38 29 74 47 35 12 65 279 25 36 58 35 32 29 47 15 13 10 18.8 18.8 18.8 (2.5) (2.5) (2.5)
Per Share Data
EPS (Basic) 0.23 0.38 0.27 0.20 0.19 0.34 0.22 0.14 0.11 0.28 0.18 0.13 0.05 0.28 1.92 0.12 0.25 0.40 0.24 0.22 0.20 0.32 0.10 0.09 0.07 0.13 0.13 0.13 -0.02 -0.02 -0.02
EPS (Diluted) 0.23 0.38 0.27 0.20 0.19 0.33 0.21 0.14 0.11 0.28 0.18 0.13 0.05 0.28 1.92 0.12 0.25 0.40 0.24 0.22 0.20 0.32 0.10 0.09 0.07 0.13 0.13 0.13 -0.02 -0.02 -0.02
Shares Outstanding 265.3 265.3 265.3 265.3 265.3 265.1 264 263 263 265.7 262 261 260 229.0 145 210 144 145 145 145 145 145 145 145 145 145 145 145 145 145 145
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1
Current Assets
Cash & Cash Equivalents 328 647 309 278 380 598 198 149 160 467 47 35 174 306 63 69 113 240 78 91 30 61 21.2 21.2 21.2
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 1,299 1,265 1,381 1,281 1,236 1,125 1,234 1,225 1,200 1,059 1,261 1,216 1,126 1,038 1,083 999 953 899 884 860 885 889 225.5 225.5 225.5
Inventory 371 352 404 400 385 358 363 367 342 329 383 378 364 319 246 249 231 205 215 257 262 247 52.2 52.2 52.2
Other Current Assets 31 36 40 40 41 55 36 33 47 42 32 51 29 24 39 203 202 22 18 41 34 33 13.8 13.8 13.8
Total Current Assets 2,056 2,326 2,166 2,025 2,070 2,163 1,860 1,805 1,772 1,918 1,740 1,697 1,712 1,707 1,431 1,537 1,517 1,389 1,225 1,274 1,237 1,263 312.8 312.8 312.8
Non-Current Assets
Property, Plant & Equipment 512 619 477 463 455 440 415 419 407 402 399 402 402 404 362 363 367 364 356 357 357 355 63.2 63.2 63.2
Goodwill 1,238 1,238 1,238 1,238 1,238 1,238 1,238 1,238 1,238 1,238 1,236 1,236 1,236 1,236 952 952 954 1,071 1,071 1,057 1,057 1,057 264.2 264.2 264.2
Intangible Assets 106 112 114 120 126 132 138 144 146 151 156 161 167 172 45 47 50 52 54 55 58 60 17.2 17.2 17.2
Long-Term Investments 75 21 21 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 135 85 111 115 88 91 86 91 95 89 95 98 92 92 92 98 97 137 126 132 130 134 35.2 35.2 35.2
Total Non-Current Assets 2,155 2,291 2,079 2,054 2,026 2,021 2,001 2,014 2,009 2,003 1,973 1,965 1,969 1,970 1,500 1,506 1,516 1,680 1,661 1,665 1,677 1,693 409.2 409.2 409.2
Total Assets 4,211 4,617 4,245 4,079 4,096 4,184 3,861 3,819 3,781 3,921 3,713 3,662 3,681 3,677 2,931 3,043 3,033 3,069 2,886 2,939 2,914 2,956 722 722 722
Current Liabilities
Account Payables 187 351 342 265 299 426 292 263 220 398 328 290 258 457 285 291 248 479 285 306 343 478 0 0 0
Short-Term Debt 40 54 52 22 27 25 22 22 30 57 132 136 250 29 67 140 186 41 124 188 171 53 14 14 14
Deferred Revenue 640 585 440 436 467 399 315 348 361 335 258 292 247 233 195 156 172 174 160 147 149 177 43.8 43.8 43.8
Other Current Liabilities 84 86 75 140 142 140 145 163 158 146 144 146 174 204 190 256 237 201 174 183 186 184 58.5 58.5 58.5
Total Current Liabilities 1,105 1,231 1,082 958 1,027 1,116 880 896 902 1,078 951 943 1,019 1,042 912 911 923 989 832 912 917 975 250.2 250.2 250.2
Non-Current Liabilities
Long-Term Debt 140 226 326 331 335 340 345 351 356 349 351 357 360 365 350 350 354 352 372 373 373 374 164 164 164
Deferred Tax Liabilities 4 134 5 6 7 7 6 4 4 4 8 8 6 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 101 106 91 92 93 98 90 92 90 97 129 91 85 75 70 56 58 62 83 80 93 99 53 53 53
Total Non-Current Liabilities 336 656 515 521 498 511 507 517 524 518 520 530 519 508 481 474 475 487 524 527 542 554 217 217 217
Total Liabilities 1,441 1,887 1,597 1,479 1,525 1,627 1,387 1,413 1,426 1,596 1,471 1,473 1,538 1,550 1,393 1,385 1,398 1,476 1,356 1,439 1,459 1,529 467.2 467.2 467.2
Stockholders' Equity
Common Stock 3 3 3 3 3 3 3 3 3 3 3 3 3 3 1 1 1 2 1 1 1 1 0.2 0.2 0.2
Retained Earnings (2,253) (2,315) (2,417) (2,489) (2,543) (2,593) (2,682) (2,739) (2,777) (2,806) (2,880) (2,927) (2,962) (2,974) (3,039) (2,922) (2,947) (2,983) (3,041) (3,076) (3,108) (3,137) (805.5) (805.5) (805.5)
Accumulated Other Comprehensive Income (42) (41) (43) (42) (47) (47) (47) (47) (47) (47) (47) (47) (49) (49) (57) (54) (52) (58) (63) (58) (71) (70) (95.2) (95.2) (95.2)
Total Stockholders' Equity 2,770 2,730 2,648 2,600 2,571 2,557 2,474 2,406 2,355 2,325 2,242 2,189 2,143 2,127 1,538 1,658 1,635 1,593 1,530 1,500 1,455 1,427 254.8 254.8 254.8
Total Liabilities & Equity 4,211 4,617 4,245 4,079 4,096 4,184 3,861 3,819 3,781 3,921 3,713 3,662 3,681 3,677 2,931 3,043 3,033 3,069 2,886 2,939 2,914 2,956 722 722 722
Debt Metrics
Total Debt 271 470 471 472 452 458 460 469 484 497 538 591 705 487 503 580 629 490 588 659 642 530 178 178 178
Net Debt (57) (177) 162 194 72 (140) 262 320 324 30 491 556 531 181 440 511 516 250 510 568 612 469 156.8 156.8 156.8
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q3 2019 Q2 2019 Q1 2018 Q3 2018 Q2 2018 Q1
Operating Activities
Net Income 62 102 72 54 50 89 57 38 29 74 47 35 12 65 279 25 36 58 35 32 29 47 15 13 10 18.8 18.8 18.8 (2.5) (2.5) (2.5)
Depreciation & Amortization 24 24 23 23 23 23 23 23 22 22 21 20 22 17 17 16 15 14 16 14 14 13 14 13 13 12.8 12.8 12.8 32 32 32
Stock-Based Compensation 0 13 5 6 8 6 5 10 1 17 0 4 4 5 0 0 0 0 0 0 0 0 0 0 0 0 (94.8) (94.8) 0 (19.8) (19.8)
Change in Working Capital (156) 258 8 (111) (220) 303 (26) (39) (317) 453 (18) (77) (372) 212 54 (31) (317) 218 13 12 (308) 261 (25) 42 (324) 299.5 94.8 94.8 85 19.8 19.8
Other Non-Cash Items 4 0 0 0 0 0 0 1 0 (12) 5 0 0 (4) (350) 0 0 1 0 (5) 4 12 (9) (3) 3 (294.8) 4.8 4.8 (87.5) (2.5) (2.5)
Operating Cash Flow (66) 425 107 (28) (138) 443 59 34 (265) 515 36 (12) (334) 279 (4) 13 (255) 289 74 64 (249) 355 (3) 69 (296) 39.2 39.2 39.2 26.2 26.2 26.2
Investing Activities
Capital Expenditure (30) (49) (30) (28) (32) (29) (12) (34) (10) (18) (15) (12) (15) (30) (13) (9) (13) (18) (13) (16) (13) (19) (5) (19) (13) (13.8) (13.8) (13.8) (10) (10) (10)
Acquisitions 1 0 0 0 0 0 0 0 0 1 (1) 0 0 18 483 0 0 1 (13) 0 0 3 (3) 0 0 0 0 0 0 0 0
Purchases of Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Investing Activities 0 0 (15) 0 0 0 1 0 0 0 0 0 1 0 0 0 0 (2) 0 (2) 115 (116) 2 4 96 (24) (24) (24) (1.5) (1.5) (1.5)
Investing Cash Flow (29) (49) (45) (28) (32) (29) (11) (34) (10) (17) (16) (12) (14) (12) 470 (9) (13) (19) (26) (18) 102 (132) (6) (15) 83 (37.8) (37.8) (37.8) (11.5) (11.5) (11.5)
Financing Activities
Net Debt Issuance (195) 0 (1) (8) (1) 0 (2) (12) (29) (82) (10) (118) 218 (25) (70) (48) 141 (109) (63) 17 117 (257) (25) 38 168 0 0 0 0 0 0
Stock Repurchased (4) (11) (10) (11) (3) (15) 0 (2) 0 0 0 0 (1) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Dividends Paid (24) (24) (24) (24) (24) 0 0 0 0 0 0 0 0 (396) (396) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (4) (3) (2) (6) (20) (2) (3) (4) (5) 0 0 (2) (2) 397 (6) 0 0 1 1 (1) (1) (4) 0 (4) 4 (0.2) (0.2) (0.2) (7.5) (7.5) (7.5)
Financing Cash Flow (224) (38) (31) (46) (48) (14) 1 (11) (32) (78) (8) (115) 216 (24) (472) (48) 141 (108) (62) 16 116 (261) (25) 34 172 (0.2) (0.2) (0.2) (7.5) (7.5) (7.5)
Cash Position
Net Change in Cash (319) 338 31 (102) (218) 400 49 (11) (307) 420 12 (139) (132) 243 (6) (44) (127) 162 (13) 61 (31) (36) (31) 84 (41) 1.5 1.5 1.5 6.8 6.8 6.8
Cash at Beginning 647 309 278 380 598 198 149 160 467 47 35 174 306 63 69 113 240 78 91 30 61 98 128 44 85 19.8 19.8 19.8 13 13 13
Cash at End 328 647 309 278 380 598 198 149 160 467 47 35 174 306 63 69 113 240 78 91 30 62 97 128 44 21.2 21.2 21.2 19.8 19.8 19.8
Free Cash Flow (96) 376 77 (56) (170) 414 47 0 (275) 497 21 (24) (349) 249 (17) 4 (268) 271 61 48 (262) 336 (8) 50 (309) 25.5 25.5 25.5 16.2 16.2 16.2
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q3 2019 Q2 2019 Q1 2018 Q3 2018 Q2 2018 Q1
Income Statement
Revenue 846 1,060 960 829 799 981 812 753 688 926 703 628 569 820 634 627 612 820 720 658 681 826 719 650 583 678.5 678.5 678.5 583.2 583.2 583.2
Gross Profit 207 263 222 197 181 235 179 169 153 210 162 145 131 184 130 127 134 153 131 127 136 157 122 109 106 114.8 114.8 114.8 103.5 103.5 103.5
Operating Income 77 126 93 70 59 120 75 55 43 105 59 42 25 87 376 42 56 81 53 51 51 79 37 30 35 40.8 40.8 40.8 11.2 11.2 11.2
Net Income 62 102 72 54 50 89 57 38 29 74 47 35 12 65 279 25 36 58 35 32 29 47 15 13 10 18.8 18.8 18.8 (2.5) (2.5) (2.5)
EPS (Diluted) 0.23 0.38 0.27 0.20 0.19 0.33 0.21 0.14 0.11 0.28 0.18 0.13 0.05 0.28 1.92 0.12 0.25 0.40 0.24 0.22 0.20 0.32 0.10 0.09 0.07 0.13 0.13 0.13 -0.02 -0.02 -0.02
Balance Sheet
Cash & Equivalents 328 647 309 278 380 598 198 149 160 467 47 35 174 306 63 69 113 240 78 91 30 61 21.2 21.2 21.2
Total Assets 4,211 4,617 4,245 4,079 4,096 4,184 3,861 3,819 3,781 3,921 3,713 3,662 3,681 3,677 2,931 3,043 3,033 3,069 2,886 2,939 2,914 2,956 722 722 722
Total Debt 271 470 471 472 452 458 460 469 484 497 538 591 705 487 503 580 629 490 588 659 642 530 178 178 178
Stockholders' Equity 2,770 2,730 2,648 2,600 2,571 2,557 2,474 2,406 2,355 2,325 2,242 2,189 2,143 2,127 1,538 1,658 1,635 1,593 1,530 1,500 1,455 1,427 254.8 254.8 254.8
Cash Flow
Operating Cash Flow (66) 425 107 (28) (138) 443 59 34 (265) 515 36 (12) (334) 279 (4) 13 (255) 289 74 64 (249) 355 (3) 69 (296) 39.2 39.2 39.2 26.2 26.2 26.2
Capital Expenditure (30) (49) (30) (28) (32) (29) (12) (34) (10) (18) (15) (12) (15) (30) (13) (9) (13) (18) (13) (16) (13) (19) (5) (19) (13) (13.8) (13.8) (13.8) (10) (10) (10)
Free Cash Flow (96) 376 77 (56) (170) 414 47 0 (275) 497 21 (24) (349) 249 (17) 4 (268) 271 61 48 (262) 336 (8) 50 (309) 25.5 25.5 25.5 16.2 16.2 16.2