DEFSEC Technologies Inc. (DFSC) 10-Year Financial Performance & Capital Metrics

DFSC • • Industrial / General

IndustrialsAerospace & DefenseDefense Electronics & Mission SystemsMilitary Communications & Networks

AboutDevelops and commercializes next-gen tactical systems—non-lethal, digitization, and counter-threat—for military, public safety, and defense marketsShow more

Revenue $2M +21.9%
EBITDA -$9M +23.6%
Net Income -$7M +20.1%
EPS (Diluted) -188.79 +60.6%
Gross Margin 32.34% +308.6%
EBITDA Margin -566.46% +37.3%
Operating Margin -651.41% +33.6%
Net Margin -494.42% +34.4%
ROE -280.46% +55.8%
ROIC -3953.32% +26.2%
Debt/Equity 0.22 +102.4%
Interest Coverage -38.88 -132.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Trading at only 0.1x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Weak momentum: RS Rating 5 (bottom 5%)
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y5.65%

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-

EPS CAGR

10Y-

5Y-

3Y-

TTM-

ROCE

10Y Avg-259.82%

5Y Avg-259.82%

3Y Avg-305.84%

Latest-244.47%

Peer Comparison

Military Communications & Networks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AXONAxon Enterprise, Inc.	50.62B	637.19	132.75	33.44%	10.05%	8.49%	0.65%	0.60
CDRECadre Holdings, Inc.	1.77B	43.58	48.42	17.62%	7.33%	13.33%	1.47%	0.77
SWBISmith & Wesson Brands, Inc.	491.21M	11.04	36.80	-11.42%	2.12%	2.73%		0.31
BYRNByrna Technologies Inc.	397.7M	17.50	31.82	101.1%	14.43%	25.33%	2.36%	0.05
RGRSturm, Ruger & Company, Inc.	610.82M	38.31	21.64	-1.49%	0.48%	0.93%	5.68%	0.01
NPKNational Presto Industries, Inc.	852.37M	119.18	20.48	13.88%	9.23%	11.11%		0.03
PEWGrabAGun Digital Holdings Inc.	95.75M	3.19	11.81			6.92%
GPUSHyperscale Data, Inc.	90.55M	0.28	-0.01	-31.82%	-38.79%	-63.6%		57.56

Profit & Loss

	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Sales/Revenue+	1.28M	721.52K	1.23M	1.5M
Revenue Growth %	-	-0.43%	0.71%	0.22%
Cost of Goods Sold+	798.89K	536.74K	1.43M	1.02M
COGS % of Revenue	0.63%	0.74%	1.16%	0.68%
Gross Profit+	476.92K	184.78K	-191.38K	486.5K
Gross Margin %	0.37%	0.26%	-0.16%	0.32%
Gross Profit Growth %	-	-0.61%	-2.04%	3.54%
Operating Expenses+	9.68M	10.28M	11.91M	10.29M
OpEx % of Revenue	7.59%	14.24%	9.65%	6.84%
Selling, General & Admin	7.54M	8.21M	10.27M	7.81M
SG&A % of Revenue	5.91%	11.38%	8.32%	5.19%
Research & Development	2.14M	2.06M	1.64M	2.48M
R&D % of Revenue	1.68%	2.86%	1.33%	1.65%
Other Operating Expenses	0	0	0	0
Operating Income+	-9.2M	-10.09M	-12.1M	-9.8M
Operating Margin %	-7.21%	-13.99%	-9.81%	-6.51%
Operating Income Growth %	-	-0.1%	-0.2%	0.19%
EBITDA+	-9.06M	-9.76M	-11.15M	-8.52M
EBITDA Margin %	-7.1%	-13.53%	-9.03%	-5.66%
EBITDA Growth %	-	-0.08%	-0.14%	0.24%
D&A (Non-Cash Add-back)	140.99K	326.49K	952.51K	1.28M
EBIT	-9.2M	-10.06M	-8.58M	-7.19M
Net Interest Income+	-111.27K	-506K	-668.03K	-196.32K
Interest Income	4.85K	5.99K	55.51K	55.69K
Interest Expense	116.11K	511.99K	723.55K	252.01K
Other Income/Expense	-112.82K	-478.39K	2.8M	2.36M
Pretax Income+	-9.32M	-10.57M	-9.31M	-7.44M
Pretax Margin %	-7.3%	-14.65%	-7.54%	-4.94%
Income Tax+	0	-49.44K	0	0
Effective Tax Rate %	1%	1%	1%	1%
Net Income+	-9.32M	-10.52M	-9.31M	-7.44M
Net Margin %	-7.3%	-14.58%	-7.54%	-4.94%
Net Income Growth %	-	-0.13%	0.12%	0.2%
Net Income (Continuing)	-9.32M	-10.52M	-9.31M	-7.44M
Discontinued Operations	0	0	0	0
Minority Interest	0	0	0	0
EPS (Diluted)+	-3091.20	-3025.05	-478.80	-188.79
EPS Growth %	-	0.02%	0.84%	0.61%
EPS (Basic)	-3091.20	-3025.05	-478.80	-188.79
Diluted Shares Outstanding	3.01K	3.48K	19.44K	39.39K
Basic Shares Outstanding	3.01K	3.48K	19.44K	39.39K
Dividend Payout Ratio	-	-	-	-

Balance Sheet

	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Total Current Assets+	4.06M	1.52M	6.84M	1.84M
Cash & Short-Term Investments	2.69M	170.54K	5.41M	256.83K
Cash Only	2.69M	170.54K	5.41M	256.83K
Short-Term Investments	0	0	0	0
Accounts Receivable	699.25K	171.88K	300.27K	567.88K
Days Sales Outstanding	200.05	86.95	88.78	137.79
Inventory	90.3K	393.54K	542.39K	533.16K
Days Inventory Outstanding	41.26	267.62	138.85	191.2
Other Current Assets	30K	780.43K	592.41K	484.49K
Total Non-Current Assets+	4.66M	5.81M	4.92M	3.77M
Property, Plant & Equipment	1.17M	1.04M	778.33K	541.84K
Fixed Asset Turnover	1.09x	0.69x	1.59x	2.78x
Goodwill	0	0	0	0
Intangible Assets	3.47M	4.74M	4.11M	3.17M
Long-Term Investments	0	0	0	0
Other Non-Current Assets	21.37K	23.6K	26.08K	58.13K
Total Assets+	8.72M	7.32M	11.76M	5.62M
Asset Turnover	0.15x	0.10x	0.10x	0.27x
Asset Growth %	-	-0.16%	0.61%	-0.52%
Total Current Liabilities+	1.16M	6.93M	6.38M	2.98M
Accounts Payable	620.04K	2.29M	367.13K	881.84K
Days Payables Outstanding	283.29	1.56K	93.98	316.23
Short-Term Debt	0	2.2M	0	0
Deferred Revenue (Current)	0	47.27K	120.97K	120.57K
Other Current Liabilities	0	0	4.34M	847.29K
Current Ratio	3.50x	0.22x	1.07x	0.62x
Quick Ratio	3.42x	0.16x	0.99x	0.44x
Cash Conversion Cycle	-41.98	-1.2K	133.65	12.75
Total Non-Current Liabilities+	1.43M	1.4M	1.44M	1.27M
Long-Term Debt	53.25K	78.8K	0	0
Capital Lease Obligations	275.62K	206.47K	302.41K	155.15K
Deferred Tax Liabilities	0	0	0	0
Other Non-Current Liabilities	1.11M	1.12M	1.14M	1.12M
Total Liabilities	2.59M	8.33M	7.82M	4.25M
Total Debt+	361.16K	2.55M	429.52K	302.22K
Net Debt	-2.33M	2.38M	-4.98M	45.4K
Debt / Equity	0.06x	-	0.11x	0.22x
Debt / EBITDA	-	-	-	-
Net Debt / EBITDA	-	-	-	-
Interest Coverage	-79.26x	-19.71x	-16.73x	-38.88x
Total Equity+	6.12M	-1M	3.94M	1.37M
Equity Growth %	-	-1.16%	4.92%	-0.65%
Book Value per Share	2033.11	-288.44	202.46	34.74
Total Shareholders' Equity	6.12M	-1M	3.94M	1.37M
Common Stock	17.22M	19.5M	33.38M	37.82M
Retained Earnings	-15.39M	-25.91M	-35.22M	-42.65M
Treasury Stock	0	0	0	0
Accumulated OCI	-8.99K	-101.42K	-39.66K	-38.52K
Minority Interest	0	0	0	0

Cash Flow

	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Cash from Operations+	-6.26M	-4.26M	-14.08M	-9.06M
Operating CF Margin %	-4.9%	-5.9%	-11.4%	-6.02%
Operating CF Growth %	-	0.32%	-2.31%	0.36%
Net Income	-9.32M	-10.52M	-9.31M	-7.44M
Depreciation & Amortization	140.99K	326.49K	952.51K	1.28M
Stock-Based Compensation	2.46M	1.96M	373.55K	291.76K
Deferred Taxes	0	-49.44K	0	0
Other Non-Cash Items	258.48K	386.75K	-3.79M	-2.85M
Working Capital Changes	198.48K	3.64M	-2.31M	-343.67K
Change in Receivables	-218.33K	631.8K	-128.39K	-267.61K
Change in Inventory	17.55K	49.45K	-148.85K	9.22K
Change in Payables	-828.7K	2.52M	-1.67M	-257.26K
Cash from Investing+	-1.07M	-1.11M	-1.44M	-111.15K
Capital Expenditures	-809.96K	-187.48K	-176.95K	-101.33K
CapEx % of Revenue	0.63%	0.26%	0.14%	0.07%
Acquisitions	-	-	-	-
Investments	-	-	-	-
Other Investing	-263.23K	-1.18M	-1.27M	-9.82K
Cash from Financing+	6.94M	2.85M	20.76M	4.02M
Debt Issued (Net)	-	-	-	-
Equity Issued (Net)	-	-	-	-
Dividends Paid	0	0	0	0
Share Repurchases	-	-	-	-
Other Financing	1.18M	8.1K	-539.15K	-746.31K
Net Change in Cash	-	-	-	-
Free Cash Flow+	-7.15M	-5.62M	-15.38M	-9.17M
FCF Margin %	-5.6%	-7.79%	-12.46%	-6.1%
FCF Growth %	-	0.21%	-1.74%	0.4%
FCF per Share	-2373.31	-1616.55	-791.13	-232.87
FCF Conversion (FCF/Net Income)	0.67x	0.40x	1.51x	1.22x
Interest Paid	0	0	0	0
Taxes Paid	0	0	0	0

Key Ratios

Metric	2021	2022	2023	2024
Return on Equity (ROE)	-152.12%	-410.88%	-634.66%	-280.46%
Return on Invested Capital (ROIC)	-	-292.35%	-5354.72%	-3953.32%
Gross Margin	37.38%	25.61%	-15.5%	32.34%
Net Margin	-730.16%	-1458.08%	-753.89%	-494.42%
Debt / Equity	0.06x	-	0.11x	0.22x
Interest Coverage	-79.26x	-19.71x	-16.73x	-38.88x
FCF Conversion	0.67x	0.40x	1.51x	1.22x
Revenue Growth	-	-43.45%	71.09%	21.86%

Frequently Asked Questions

Growth & Financials

DEFSEC Technologies Inc. (DFSC) reported $4.1M in revenue for fiscal year 2024. This represents a 224% increase from $1.3M in 2021.

DEFSEC Technologies Inc. (DFSC) grew revenue by 21.9% over the past year. This is strong growth.

DEFSEC Technologies Inc. (DFSC) reported a net loss of $9.6M for fiscal year 2024.

Dividend & Returns

DEFSEC Technologies Inc. (DFSC) has a return on equity (ROE) of -280.5%. Negative ROE indicates the company is unprofitable.

DEFSEC Technologies Inc. (DFSC) had negative free cash flow of $8.9M in fiscal year 2024, likely due to heavy capital investments.

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