DRS · Leonardo Drs, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $846.00M | - | $960.00M | $829.00M | $799.00M | - | $812.00M | $753.00M | $688.00M | - |
| Cost of Revenue | $634.00M | - | $738.00M | $632.00M | $618.00M | - | $633.00M | $584.00M | $535.00M | - |
| Gross Profit | $212.00M | - | $222.00M | $197.00M | $181.00M | - | $179.00M | $169.00M | $153.00M | - |
| R&D | $31.00M | - | $23.00M | $30.00M | $20.00M | - | - | - | - | - |
| SG&A | $130.00M | - | $123.00M | $121.00M | $117.00M | - | $98.00M | $107.00M | $101.00M | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $24.00M | - | $18.00M | $17.00M | $23.00M | - | $17.00M | $17.00M | $22.00M | - |
| Operating Income | $77.00M | - | $93.00M | $70.00M | $59.00M | - | $75.00M | $55.00M | $43.00M | - |
| Interest Expense | - | - | - | - | $5.00M | - | $5.00M | $7.00M | $5.00M | - |
| Income Tax | $15.00M | - | $15.00M | $13.00M | $8.00M | - | $12.00M | $9.00M | $8.00M | - |
| Net Income | $62.00M | - | $72.00M | $54.00M | $50.00M | - | $57.00M | $38.00M | $29.00M | - |
| EPS - Basic | $0.23 | - | $0.27 | $0.20 | $0.19 | - | $0.22 | $0.14 | $0.11 | - |
| EPS - Diluted | $0.23 | - | $0.26 | $0.20 | $0.19 | - | $0.21 | $0.14 | $0.11 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $328.00M | $647.00M | $309.00M | $278.00M | $380.00M | $598.00M | $198.00M | $149.00M | $160.00M | $467.00M |
| Accounts Receivable | $324.00M | $334.00M | $327.00M | $265.00M | $254.00M | $253.00M | $237.00M | $188.00M | $194.00M | $151.00M |
| Inventory | $371.00M | $352.00M | $404.00M | $400.00M | $385.00M | $358.00M | $363.00M | $367.00M | $342.00M | $329.00M |
| Accounts Payable | $187.00M | $351.00M | $342.00M | $265.00M | $299.00M | $426.00M | $292.00M | $263.00M | $220.00M | $398.00M |
| Current Assets | $2.06B | $2.33B | $2.17B | $2.02B | $2.07B | $2.16B | $1.86B | $1.80B | $1.77B | $1.92B |
| Total Assets | $4.21B | $4.49B | $4.25B | $4.08B | $4.10B | $4.18B | $3.86B | $3.82B | $3.78B | $3.92B |
| Current Liabilities | $1.10B | $1.23B | $1.08B | $958.00M | $1.03B | $1.12B | $880.00M | $896.00M | $902.00M | $1.08B |
| Long-term Debt | - | $348.00M | - | - | - | $366.00M | - | - | - | $407.00M |
| Total Liabilities | - | - | - | - | - | - | - | - | - | - |
| Stockholders' Equity | $2.77B | $2.73B | $2.65B | $2.60B | $2.57B | $2.56B | $2.47B | $2.41B | $2.35B | $2.33B |
| Retained Earnings | ($2.25B) | ($2.31B) | ($2.42B) | ($2.49B) | ($2.54B) | ($2.59B) | ($2.68B) | ($2.74B) | ($2.78B) | ($2.81B) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($66.00M) | - | - | - | ($138.00M) | - | - | - | ($265.00M) | - |
| Investing Cash Flow | ($29.00M) | - | - | - | ($32.00M) | - | - | - | ($10.00M) | - |
| Financing Cash Flow | ($224.00M) | - | - | - | ($48.00M) | - | - | - | ($32.00M) | - |
| CapEx | $30.00M | - | - | - | $32.00M | - | - | - | $10.00M | - |
| Free Cash Flow | ($96.00M) | - | - | - | ($170.00M) | - | - | - | ($275.00M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 25.1% | - | 23.1% | 23.8% | 22.7% | - | 22.0% | 22.4% | 22.2% | - |
| Operating margin | 9.1% | - | 9.7% | 8.4% | 7.4% | - | 9.2% | 7.3% | 6.3% | - |
| EBITDA margin | 11.9% | - | 11.6% | 10.5% | 10.3% | - | 11.3% | 9.6% | 9.4% | - |
| Net margin | 7.3% | - | 7.5% | 6.5% | 6.3% | - | 7.0% | 5.0% | 4.2% | - |
| Free cash flow margin | -11.3% | - | - | - | -21.3% | - | - | - | -40.0% | - |
| FCF / Net income | -1.55 | - | - | - | -3.40 | - | - | - | -9.48 | - |
| R&D / Revenue | 3.7% | - | 2.4% | 3.6% | 2.5% | - | - | - | - | - |
| SG&A / Revenue | 15.4% | - | 12.8% | 14.6% | 14.6% | - | 12.1% | 14.2% | 14.7% | - |
| Effective tax rate | 19.5% | - | 17.2% | 19.4% | 13.8% | - | 17.4% | 19.1% | 21.6% | - |
| Return on assets | 1.5% | - | 1.7% | 1.3% | 1.2% | - | 1.5% | 1.0% | 0.8% | - |
| Return on equity | 2.2% | - | 2.7% | 2.1% | 1.9% | - | 2.3% | 1.6% | 1.2% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 1.86 | 1.89 | 2.00 | 2.11 | 2.02 | 1.94 | 2.11 | 2.01 | 1.96 | 1.78 |
| Quick ratio | 1.52 | 1.60 | 1.63 | 1.70 | 1.64 | 1.62 | 1.70 | 1.60 | 1.59 | 1.47 |
| Cash ratio | 0.30 | 0.53 | 0.29 | 0.29 | 0.37 | 0.54 | 0.23 | 0.17 | 0.18 | 0.43 |
| Leverage | ||||||||||
| Debt / Equity | - | 0.13 | - | - | - | 0.14 | - | - | - | 0.18 |
| Debt / Assets | - | 0.08 | - | - | - | 0.09 | - | - | - | 0.10 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | 11.8x | - | 15.0x | 7.9x | 8.6x | - |
| Equity multiplier | 1.52 | 1.64 | 1.60 | 1.57 | 1.59 | 1.64 | 1.56 | 1.59 | 1.61 | 1.69 |
| Liabilities / Assets | - | - | - | - | - | - | - | - | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.20 | - | 0.23 | 0.20 | 0.20 | - | 0.21 | 0.20 | 0.18 | - |
| Inventory turnover | 1.71 | - | 1.83 | 1.58 | 1.61 | - | 1.74 | 1.59 | 1.56 | - |
| Days sales outstanding | 140d | - | 124d | 117d | 116d | - | 107d | 91d | 103d | - |
| Days inventory outstanding | 214d | - | 200d | 231d | 227d | - | 209d | 229d | 233d | - |
| Days payable outstanding | 108d | - | 169d | 153d | 177d | - | 168d | 164d | 150d | - |
| Cash conversion cycle | 246d | - | 155d | 195d | 167d | - | 147d | 156d | 186d | - |
| Valuation | ||||||||||
| P / E | 193.6x | - | 174.6x | 232.4x | 173.1x | - | 134.4x | 182.2x | 200.8x | - |
| P / B | 4.3x | - | 4.6x | 4.8x | 3.4x | - | 3.1x | 2.8x | 2.5x | - |
| P / S | 14.1x | - | 12.7x | 15.1x | 11.1x | - | 9.3x | 9.0x | 8.5x | - |
| EV / EBITDA | 115.2x | - | 107.0x | 140.5x | 103.1x | - | 80.1x | 92.5x | 87.9x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 5.9% | - | 18.2% | 10.1% | 16.1% | - | 15.5% | 19.9% | 20.9% | - |
| Revenue CAGR (3y) | 14.1% | - | 14.8% | 9.8% | 9.3% | - | 4.1% | 4.6% | 5.7% | - |
| Revenue CAGR (5y) | 7.7% | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | 17.1% | - | 24.0% | 16.6% | 18.3% | - | 10.5% | 16.6% | 16.8% | - |
| Operating income growth (YoY) | 30.5% | - | 24.0% | 27.3% | 37.2% | - | 27.1% | 31.0% | 72.0% | - |
| Net income growth (YoY) | 24.0% | - | 26.3% | 42.1% | 72.4% | - | 21.3% | 8.6% | 141.7% | - |
| EPS growth (YoY) | 21.1% | - | 23.8% | 42.9% | 72.7% | - | 16.7% | 7.7% | 120.0% | - |
| EPS CAGR (3y) | 66.3% | - | -48.6% | 5.6% | -8.7% | - | -4.4% | -14.0% | 16.3% | - |
| EPS CAGR (5y) | 26.9% | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 43.5% | - | - | - | 38.2% | - | - | - | 21.2% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 7.7% | 6.8% | 7.0% | 8.1% | 9.2% | 10.0% | 10.3% | 9.9% | 9.9% | 9.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
($14.00M) totalIntegrated Mission Systems Segment($2.00M) · 0.0%
Advanced Sensing And Computing Segment($12.00M) · 0.0%
Geographic
$2.34B totalUS$2.02B · 86.1%
Non Us$325.00M · 13.9%
Peer comparison
Same SIC group: Search, Detection, Navigation, Guidance, Aeronautical Sys
Comparing Leonardo DRS against the 5 most active filers in the same SIC group.
Dividends
$0.36/share trailing 12 months · +100.0% YoY
| Ex-date | Per share |
|---|---|
| May 19, 2026 | $0.0900 |
| Mar 10, 2026 | $0.0900 |
| Nov 18, 2025 | $0.0900 |
| Aug 20, 2025 | $0.0900 |
| May 22, 2025 | $0.0900 |
| Mar 13, 2025 | $0.0900 |