Industrials · Aerospace & Defense
Price
$42.48
Market Cap
$11.3B
Employees
7,000
Beta
0.12
Avg Volume
992,861
CEO
John A. Baylouny
Business Description
Established in Arlington, Virginia, in 1969, Leonardo DRS, Inc. is a leading supplier of advanced defense products and technologies. The company's diverse portfolio addresses military requirements across various environments, including land, air, sea, space, and cybersecurity, with additional applications in the commercial sector. Its operations are organized into two primary divisions: Advanced Sensing and Computing, and Integrated Mission Systems. DRS provides sophisticated sensing solutions, such as infrared systems for threat identification and improving situational awareness, alongside uncooled infrared technologies and systems designed to mitigate brownout conditions. Their electronic warfare (EW) capabilities encompass airborne, vehicle-mounted, and soldier-borne systems, supported by specialized EW software, training tools, and intelligence services. Furthermore, Leonardo DRS develops essential computing systems for military platforms like ground vehicles, ships, and submarines. These offerings include robust network and data distribution applications, integrated sensor systems, and resilient networked computing infrastructure. The company also specializes in force protection, delivering solutions for counter-unmanned aerial systems (C-UAS), short-range air defense, and active protection systems. Additionally, DRS is a key provider of power management and propulsion technologies, offering systems for power control, distribution, conversion, and propulsion—including hybrid electric drive systems, energy storage solutions, gas turbine packages, nuclear instrumentation and controls, and thermal management and refrigeration equipment. Leonardo DRS serves a broad client base, which includes the U.S. military, major aerospace and defense contractors, government intelligence agencies, and international armed forces.
Business History
Price Overview
Last updated: Jun 27, 2026 11:05am (just now)$42.48
-1.88 (-4.24%)
Day Range
$42.13 – $44.52
52-Week Range
$32.43 – $50.59
50-Day MA
$44.08
200-Day MA
$41.21
Volume
2,043,953.00
Analyst Price Targets
Low
$47.00
Consensus
$53.33
High
$59.00
(14 analysts)
Share Structure
Outstanding
266,762,000.00
Float
76,067,209.00
Free Float
28.5%
Low free float
— 28.5% of shares trade freely, ~71.5% held by insiders/institutions
Below average liquidity. Large orders can move the price significantly. Insiders or strategic holders control the majority — watch for lockup expirations or secondary offerings.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
38.86
Stock Price: $42.48
EPS (Diluted): 1.05
EPS (Diluted): 1.05
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
3.31
Stock Price: $42.48
Total Equity: $2.73B
Shares: 268,800,000
Total Equity: $2.73B
Shares: 268,800,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
24.73
Market Cap: $11.33B
Total Debt: $252.00M
Cash: $647.00M
EBITDA: $437.00M
Total Debt: $252.00M
Cash: $647.00M
EBITDA: $437.00M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$8.9B
Market Cap: $11.33B
Total Debt: $252.00M
Cash: $647.00M
Total Debt: $252.00M
Cash: $647.00M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
23.2%
Gross Profit: $847.00M
Revenue: $3.65B
Revenue: $3.65B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
9.5%
Operating Income: $348.00M
Revenue: $3.65B
Revenue: $3.65B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
7.6%
Net Income: $278.00M
Revenue: $3.65B
Revenue: $3.65B
ROE (Profit from shareholder equity)
APINet Income / Total Equity
10.8%
Net Income: $278.00M
Total Equity: $2.73B
Total Equity: $2.73B
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
9.5%
Operating Income: $348.00M
Tax Rate: 17.3%
Equity: $2.73B
Total Debt: $252.00M
Cash: $647.00M
Tax Rate: 17.3%
Equity: $2.73B
Total Debt: $252.00M
Cash: $647.00M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.89
Current Assets: $2.33B
Current Liabilities: $1.23B
Current Liabilities: $1.23B
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.09
Short-Term Debt: $26.00M
Long-Term Debt: $226.00M
Total Debt: $252.00M
Total Equity: $2.73B
Long-Term Debt: $226.00M
Total Debt: $252.00M
Total Equity: $2.73B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$13.57
Revenue: $3.65B
Shares: 268,800,000
Shares: 268,800,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$10.16
Total Equity: $2.73B
Shares: 268,800,000
Shares: 268,800,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$0.84
Operating CF: $366.00M
CapEx: -$139.00M
Shares: 268,800,000
CapEx: -$139.00M
Shares: 268,800,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
1.1%
Last Dividend: N/A
Stock Price: $42.48
Stock Price: $42.48
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $278.00M
Net Income: $278.00M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares DRS against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 24, 2026 3:03am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $2.9B | $2.7B | $2.8B | $3.2B | $3.6B |
| Cost of Revenue | $2.3B | $2.1B | $2.2B | $2.5B | $2.8B |
| Gross Profit | $547.0M | $575.0M | $648.0M | $736.0M | $847.0M |
| Operating Expenses | $311.0M | $14.0M | $417.0M | $443.0M | $499.0M |
| Operating Income | $236.0M | $561.0M | $231.0M | $293.0M | $348.0M |
| Net Income | $154.0M | $405.0M | $168.0M | $213.0M | $278.0M |
| EBITDA | $293.0M | $624.0M | $313.0M | $376.0M | $437.0M |
| EPS | $1.06 | $1.88 | $0.64 | $0.81 | $1.05 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 24, 2026 3:04am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $240.0M | $306.0M | $467.0M | $598.0M | $647.0M |
| Total Current Assets | $1.4B | $1.7B | $1.9B | $2.2B | $2.3B |
| Total Assets | $3.1B | $3.7B | $3.9B | $4.2B | $4.6B |
| Current Liabilities | $989.0M | $1.0B | $1.1B | $1.1B | $1.2B |
| Long-Term Debt | $352.0M | $365.0M | $349.0M | $340.0M | $226.0M |
| Total Liabilities | $1.5B | $1.6B | $1.6B | $1.6B | $1.9B |
| Total Equity | $1.6B | $2.1B | $2.3B | $2.6B | $2.7B |
| Retained Earnings | -$3.0B | -$3.0B | -$2.8B | -$2.6B | -$2.3B |
Cash Flow (Annual)
Last updated: Jun 24, 2026 3:04am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $178.0M | $33.0M | $205.0M | $271.0M | $366.0M |
| Capital Expenditure | -$60.0M | -$65.0M | -$60.0M | -$85.0M | -$139.0M |
| Free Cash Flow | $118.0M | -$32.0M | $145.0M | $186.0M | $227.0M |
| Acquisitions (net) | -$14.0M | $501.0M | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | -$1.0M | -$19.0M | -$35.0M |
| Net Change in Cash | $179.0M | $66.0M | $161.0M | $131.0M | $49.0M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 11:05am (just now)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$4.2B $4.2B – $4.2B
|
$4.4B $4.4B – $4.4B
|
$4.8B $4.8B – $4.9B
|
$5.1B $5.1B – $5.2B
|
| EBITDA |
$571.7M $567.6M – $575.8M
|
$605.0M $605.0M – $605.0M
|
$654.7M $648.9M – $660.7M
|
$695.3M $689.1M – $701.6M
|
| Net Income |
$386.6M $374.4M – $398.8M
|
$425.0M $424.5M – $434.9M
|
$470.4M $465.0M – $476.0M
|
$497.3M $491.5M – $503.2M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 24, 2026 3:03am (3d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | -6.5% | +4.9% | +14.4% | +12.8% |
| Gross Profit Growth | +5.1% | +12.7% | +13.6% | +15.1% |
| Operating Income Growth | +137.7% | -58.8% | +26.8% | +18.8% |
| Net Income Growth | +163.0% | -58.5% | +26.8% | +30.5% |
| EBITDA Growth | +113.0% | -49.8% | +20.1% | +16.2% |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-18 | Baylouny John | S-Sale | 36,471.00 | $45.67 | $1.7M |
| 2026-06-11 | Wallace Sally | S-Sale | 1,300.00 | $50.00 | $65,000 |
| 2026-06-08 | Dippold Michael | S-Sale | 8,318.00 | $46.48 | $386,621 |
| 2026-06-04 | Dorfman Mark | S-Sale | 5,536.00 | $45.75 | $253,272 |
| 2026-06-04 | TOWNSEND FRANCES F | M-Exempt | 3,556.00 | $0.00 | $0 |
| 2026-06-04 | TOWNSEND FRANCES F | M-Exempt | 3,556.00 | $0.00 | $0 |
| 2026-06-04 | SALZMAN ERIC | M-Exempt | 3,556.00 | $0.00 | $0 |
| 2026-06-04 | SALZMAN ERIC | M-Exempt | 3,556.00 | $0.00 | $0 |
| 2026-06-04 | Brothers Louis R Jr | M-Exempt | 3,556.00 | $0.00 | $0 |
| 2026-06-04 | Brothers Louis R Jr | M-Exempt | 3,556.00 | $0.00 | $0 |
| 2026-06-04 | Krieg Kenneth J | M-Exempt | 3,556.00 | $0.00 | $0 |
| 2026-06-04 | Krieg Kenneth J | M-Exempt | 3,556.00 | $0.00 | $0 |
| 2026-06-04 | Jeffery Reuben III | M-Exempt | 649.00 | $0.00 | $0 |
| 2026-06-04 | Jeffery Reuben III | M-Exempt | 649.00 | $0.00 | $0 |
| 2026-06-04 | GALLAGHER MARY E | M-Exempt | 3,556.00 | $0.00 | $0 |
| 2026-06-04 | GALLAGHER MARY E | M-Exempt | 3,556.00 | $0.00 | $0 |
| 2026-06-04 | Casey George | M-Exempt | 3,556.00 | $0.00 | $0 |
| 2026-06-04 | Casey George | M-Exempt | 3,556.00 | $0.00 | $0 |
| 2026-06-04 | Baker Gail | M-Exempt | 3,556.00 | $0.00 | $0 |
| 2026-06-04 | Baker Gail | M-Exempt | 3,556.00 | $0.00 | $0 |
Dividend History (Last 20)
Last updated: Jun 21, 2026 6:54pm (5d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-05-19 | $0.09 | 2026-05-05 | 2026-05-19 | 2026-06-02 |
| 2026-03-10 | $0.09 | 2026-02-24 | 2026-03-10 | 2026-03-24 |
| 2025-11-18 | $0.09 | 2025-10-29 | 2025-11-18 | 2025-12-02 |
| 2025-08-20 | $0.09 | 2025-07-30 | 2025-08-20 | 2025-09-03 |
| 2025-05-22 | $0.09 | 2025-05-01 | 2025-05-22 | 2025-06-05 |
| 2025-03-13 | $0.09 | 2025-02-20 | 2025-03-13 | 2025-03-27 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for DRS — it's generated by the pipeline (
market-narrative step).
No community reviews yet for DRS.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
personal — only you see this
Sign in to save personal notes and rate your interest in this stock.
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30