Leonardo DRS, Inc.: stock overview

DRSNASDAQIndustrials · Search, Detection, Navigation, Guidance, Aeronautical Sys

Price

$35.18

November 13, 2026Market cap $9.4B

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The full history: 7 fiscal years, from 2019
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The full analysis, 18 a month
More questions to the chat on its filings
Excel with every year
An email when it reports, changes its dividend or an officer buys

In short

Leonardo DRS had revenue of $3.9B over the last 12 months and net income of $365M, a net margin of 9.4%. Revenue grew by 5.6% a year on average over the last 5 years. At $35.18 the shares trade at a P/E of 25.6, against a median of 31.3 over the last 5 fiscal years. It holds more cash than debt, by $119M. It pays a dividend yielding 1.02%.

From its SEC filings (latest fiscal year to December 31, 2025) and the price of November 13, 2026.

Its SEC filings

Market cap: $9.4B; 266M shares
P/E: 25.6; Today25.6
Median31.3
Revenue, 12 months: $3.9B; +5.6% a year over 5 years
Net margin: 9.4%; 2025: 7.6%, above 64% of its industry

Worth knowing

What a holder would want to hear from the company's SEC filings of the last three years. Each with its filing, without comment.

3 fiscal years in figures

Each fiscal year's figures as the company filed them, and the share price at its end.

2023–2025 fiscal years

+13.6% a year over 2 years

202510-K
Revenue$3.6B
202410-K
Revenue$3.2B
202310-K
Revenue$2.8B

Year	Revenue	Net income	EPS	Free cash flow	Dividend per share	Price
202510-K	$3.6B	$278M	$1.03	$227M	$0.36	$34.09
202410-K	$3.2B	$213M	$0.80	$186M	–	$32.31
202310-K	$2.8B	$168M	$0.64	$145M	–	$20.04

Fiscal years in figures

DRS's revenue, profit, cash flow and dividend with each year-end price, from 2019 to 2022, 4 more fiscal years

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Key figures

The company's current figures in five groups. Each term is explained behind its ⓘ.

Valuation

Market cap 3-year median: $8.6B: $9.4B
Enterprise value: $9.2B
P/E 3-year median: 33.1: 25.6
EV / EBIT: 21.9
EV / Revenue: 2.4
P/B 3-year median: 3.3: 3.2
FCF yield 3-year median: 2.5%: 3.7%
Earnings yield 3-year median: 3.0%: 3.9%

Profitability

Gross margin: 25.3%
Operating margin: 10.8%
Net margin 3-year median: 6.6%: 9.4%
ROIC: 12.3%
ROIC, 5-year average: 10.1%
ROE: 13.2%

Growth

Revenue, yearly change: +12.8%
EPS, yearly change: +28.7%
FCF, yearly change: +22.0%
Revenue, average a year: +5.6%
EPS, average a year: +11.8%

The yearly change compares FY2025 with FY2024.

Balance sheet

Cash: $294M
Total debt: $286M
Of which operating leases: $111M
Net cash: $119M
Net debt / EBITDA: -0.2x
Interest cover: –
Current ratio: 1.88

Balance sheet of September 30, 2026.

Returns to shareholders

Dividend yield: 1.02%
Buybacks: 0.37%
Total returned: 1.39%
Shares, yearly change: +0.3%

Valuation against its own pastEach fiscal year's P/E, P/FCF and P/B beside today's, and the DCF calculator for the company.Valuation

Against its industry

Where its margins and returns stood in fiscal 2025 among the SEC filers of its industry (SIC code 38).

Gross margin

23.8%

Above 5% of the 161 companies in its industry, and 28% of all.

Operating margin

9.5%

Above 63% of the 186 companies in its industry, and 63% of all.

Net margin

7.6%

Above 64% of the 189 companies in its industry, and 60% of all.

ROE

10.2%

Above 69% of the 174 companies in its industry, and 61% of all.

ROA

6.2%

Above 71% of the 190 companies in its industry, and 77% of all.

Revenue growth

12.8%

Above 65% of the 186 companies in its industry, and 69% of all.

From the yearly figures every company files with the SEC, for those with revenue of at least $25 million. The industry is the first two digits of the SIC code.

Contracts with the US government

What the federal government committed in contracts to the company and its subsidiaries, by federal fiscal year (October to September).

$1.3B Fiscal year 2025

In federal fiscal year 2025 (October 2024 to September 2025) the US government committed $1.3B in contracts to the company and its subsidiaries. The year before it was $983M. That is about 35% of its revenue in the fiscal year to December 31, 2025 ($3.6B), though an amount committed is not revenue.

Fiscal year 2022Oct 2021 to Sep 2022

$697M

Fiscal year 2023Oct 2022 to Sep 2023

$1.1B

Fiscal year 2024Oct 2023 to Sep 2024

$983M

Fiscal year 2025Oct 2024 to Sep 2025

$1.3B

Fiscal year 2026Oct 2025 to Sep 2026

$343M

From USAspending.gov, the federal government's public spending records, as of November 1, 2026. An amount committed is not revenue of the same year: a contract running several years counts when it is signed, and the company is paid as it does the work. The company is matched through the parent company the government records it under, which adds up its subsidiaries. A subsidiary recorded under another parent can be missing.

The company at the SEC

How it is registered and when its fiscal year ends.

Name at the SEC: Leonardo DRS, Inc.
CIK: 1833756
Exchange: NASDAQ
Industry (SIC): 3812 · Search, Detection, Navigation, Guidance, Aeronautical Sys
Fiscal year ends: December 31
Latest annual report: December 31, 2025
Reporting currency: USD
Shares: 266M

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The full analysis

What do Leonardo DRS's filings show?

These are Leonardo DRS's figures. The full Ploutos AI analysis reads everything the company has filed and shows what stands behind it, with a source for every figure.

A fair value range built from the filings
Earnings quality, debt and red flags
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Questions about DRS

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What is DRS's market cap?

Leonardo DRS, Inc.'s market cap is $9.4B, at a price of $35.18 on November 13, 2026 and 266M shares.

What is DRS's P/E?

DRS's P/E is 25.6, on earnings per share of $1.36 over the last 12 months. The median over the last 5 fiscal years was 31.3.

How much revenue does DRS have?

Leonardo DRS had revenue of $3.9B over the last 12 months. Over the last 5 years it changed by +5.6% a year on average.

Does DRS pay a dividend?

Yes. Leonardo DRS paid $0.36 per share over the last 12 months, a yield of 1.02% at today's price. All the figures are in the Dividend section.

Where do the figures come from?

From Leonardo DRS, Inc.'s SEC filings (10-K and 10-Q) and the share price. They hold no analyst estimates and no score, and they are not a recommendation.

The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.

US stocksThe market today, the sectors, the largest companies and the week's results.The market's sectorsThe 11 sectors side by side: returns, share of the market, median P/E and dividend.Compare stocksTwo companies side by side: price over up to ten years, with and without dividends, and every figure.US dividend stocksEach dividend's yield next to whether the company's cash covers it and whether it was ever cut.

The figures come from the company's SEC filings and the share price, and describe what it has reported. They are not a score or a fair value.