DEFSEC Technologies Inc.(DFSC)Earnings, Financials & Key Ratios
DFSC•NASDAQ
$3.95
$2M mkt cap·Price updated May 7, 2026
AboutDevelops and commercializes next-gen tactical systems—non-lethal, digitization, and counter-threat—for military, public safety, and defense marketsShow more
- Revenue$5M+228.6%
- EBITDA-$8M+6.1%
- Net Income-$10M-29.4%
- EPS (Diluted)-15.78+91.6%
- Gross Margin35.16%+8.7%
- EBITDA Margin-161.83%+71.4%
- Operating Margin-183.72%+71.8%
- Net Margin-194.77%+60.6%
- ROE-209.96%+25.1%
- ROIC-355.41%+91.0%
- Debt/Equity0.17-24.4%
- Interest Coverage-35.65+8.3%
DFSC Key Insights
DEFSEC Technologies Inc. (DFSC) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Momentum leader: RS Rating 81 (top 19%)
- ✓Trading at only 0.4x book value
✗Weaknesses
- ✗Negative free cash flow
- ✗Shares diluted 100.0% in last year
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
DFSC Price & Volume
DEFSEC Technologies Inc. (DFSC) stock price & volume — 10-year historical chart
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DFSC Growth Metrics
DEFSEC Technologies Inc. (DFSC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years89.92%
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-
Return on Capital
10 Years-236.58%
5 Years-236.58%
3 Years-269.16%
Last Year-143.62%
DFSC Peer Comparison
DEFSEC Technologies Inc. (DFSC) competitors in Defense Electronics and Sensors — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 CACI | 10.82B | 490.03 | 21.95 | 12.64% | 5.86% | 13.15% | 0.86 | |
 SAIC | 4.24B | 94.12 | 12.22 | -2.9% | 4.93% | 23.73% | 0.14 | |
 POWI | 4B | 71.83 | 184.18 | 5.85% | 3.72% | 2.44% | ||
 BAH | 13.01B | 76.85 | 10.60 | 12.36% | 7.33% | 81.63% | 4.21 | |
 LDOS | 16.51B | 131.22 | 11.79 | 3.07% | 7.77% | 27.1% | 1.19 | |
 DXC | 2.04B | 12.00 | 5.71 | -5.82% | 0.14% | 0.54% | 1.30 | |
 LMT | 118.09B | 512.41 | 23.84 | 5.65% | 6.38% | 74.53% | 3.23 | |
 RTX | 238.07B | 176.78 | 35.64 | 9.74% | 8.03% | 10.92% | 0.59 |
Compare DFSC vs Peers
DEFSEC Technologies Inc. (DFSC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
DFSC Income Statement
DEFSEC Technologies Inc. (DFSC) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Sep'21 | Sep'22 | Sep'23 | Sep'24 | Sep'25 |
|---|---|---|---|---|---|
| Sales/Revenue | 1.28M | 721.52K | 1.23M | 1.5M | 4.94M |
| Revenue Growth % | - | -43.45% | 71.09% | 21.86% | 228.56% |
| Cost of Goods Sold | 798.89K | 536.74K | 1.43M | 1.02M | 3.2M |
| COGS % of Revenue | 62.62% | 74.39% | 115.5% | 67.66% | 64.84% |
| Gross Profit | 476.92K▲ 0% | 184.78K▼ 61.3% | -191.38K▼ 203.6% | 486.5K▲ 354.2% | 1.74M▲ 257.3% |
| Gross Margin % | 37.38% | 25.61% | -15.5% | 32.34% | 35.16% |
| Gross Profit Growth % | - | -61.25% | -203.57% | 354.21% | 257.25% |
| Operating Expenses | 9.68M | 10.28M | 11.91M | 10.29M | 10.82M |
| OpEx % of Revenue | 758.7% | 1424.24% | 965.09% | 683.75% | 218.88% |
| Selling, General & Admin | 7.54M | 8.21M | 10.27M | 7.81M | 7.38M |
| SG&A % of Revenue | 591.1% | 1138.1% | 831.87% | 519.05% | 149.25% |
| Research & Development | 2.14M | 2.06M | 1.64M | 2.48M | 2.37M |
| R&D % of Revenue | 167.59% | 286.13% | 133.22% | 164.71% | 47.91% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 1.07M |
| Operating Income | -9.2M▲ 0% | -10.09M▼ 9.7% | -12.1M▼ 20.0% | -9.8M▲ 19.0% | -9.08M▲ 7.3% |
| Operating Margin % | -721.31% | -1398.63% | -980.6% | -651.41% | -183.72% |
| Operating Income Growth % | - | -9.66% | -19.95% | 19.05% | 7.34% |
| EBITDA | -9.06M | -9.76M | -11.15M | -8.52M | -8M |
| EBITDA Margin % | -710.26% | -1353.37% | -903.44% | -566.46% | -161.83% |
| EBITDA Growth % | - | -7.76% | -14.21% | 23.59% | 6.13% |
| D&A (Non-Cash Add-back) | 140.99K | 326.49K | 952.51K | 1.28M | 1.08M |
| EBIT | -9.2M | -10.06M | -8.58M | -7.19M | -9.37M |
| Net Interest Income | -111.27K | -506K | -668.03K | -196.32K | -172.88K |
| Interest Income | 4.85K | 5.99K | 55.51K | 55.69K | 81.84K |
| Interest Expense | 116.11K | 511.99K | 723.55K | 252.01K | 254.71K |
| Other Income/Expense | -112.82K | -478.39K | 2.8M | 2.36M | -546.24K |
| Pretax Income | -9.32M▲ 0% | -10.57M▼ 13.5% | -9.31M▲ 12.0% | -7.44M▲ 20.1% | -9.63M▼ 29.4% |
| Pretax Margin % | -730.16% | -1464.93% | -753.89% | -494.42% | -194.77% |
| Income Tax | 0 | -49.44K | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0.47% | 0% | 0% | 0% |
| Net Income | -9.32M▲ 0% | -10.52M▼ 12.9% | -9.31M▲ 11.5% | -7.44M▲ 20.1% | -9.63M▼ 29.4% |
| Net Margin % | -730.16% | -1458.08% | -753.89% | -494.42% | -194.77% |
| Net Income Growth % | - | -12.93% | 11.54% | 20.08% | -29.43% |
| Net Income (Continuing) | -9.32M | -10.52M | -9.31M | -7.44M | -9.63M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -3091.20▲ 0% | -3025.05▲ 2.1% | -478.80▲ 84.2% | -188.79▲ 60.6% | -15.78▲ 91.6% |
| EPS Growth % | - | 2.14% | 84.17% | 60.57% | 91.64% |
| EPS (Basic) | -3091.20 | -3025.05 | -478.80 | -188.79 | -15.78 |
| Diluted Shares Outstanding | 3.01K | 3.48K | 19.44K | 39.39K | 610.17K |
| Basic Shares Outstanding | 3.01K | 3.48K | 19.44K | 39.39K | 610.17K |
| Dividend Payout Ratio | - | - | - | - | - |
DFSC Balance Sheet
DEFSEC Technologies Inc. (DFSC) balance sheet — assets, liabilities & shareholders' equity
| Line item | Sep'21 | Sep'22 | Sep'23 | Sep'24 | Sep'25 |
|---|---|---|---|---|---|
| Total Current Assets | 4.06M | 1.52M | 6.84M | 1.84M | 8.95M |
| Cash & Short-Term Investments | 2.69M | 170.54K | 5.41M | 256.83K | 6.69M |
| Cash Only | 2.69M | 170.54K | 5.41M | 256.83K | 6.69M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 699.25K | 171.88K | 300.27K | 567.88K | 1.49M |
| Days Sales Outstanding | 200.05 | 86.95 | 88.78 | 137.79 | 110.34 |
| Inventory | 90.3K | 393.54K | 542.39K | 533.16K | 519.61K |
| Days Inventory Outstanding | 41.26 | 267.62 | 138.85 | 191.2 | 59.18 |
| Other Current Assets | 30K | 780.43K | 592.41K | 484.49K | 245.84K |
| Total Non-Current Assets | 4.66M | 5.81M | 4.92M | 3.77M | 3.98M |
| Property, Plant & Equipment | 1.17M | 1.04M | 778.33K | 541.84K | 1.44M |
| Fixed Asset Turnover | 1.09x | 0.69x | 1.59x | 2.78x | 3.42x |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 3.47M | 4.74M | 4.11M | 3.17M | 2.39M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 21.37K | 23.6K | 26.08K | 58.13K | 141.11K |
| Total Assets | 8.72M▲ 0% | 7.32M▼ 16.0% | 11.76M▲ 60.6% | 5.62M▼ 52.2% | 12.92M▲ 130.0% |
| Asset Turnover | 0.15x | 0.10x | 0.10x | 0.27x | 0.38x |
| Asset Growth % | - | -15.99% | 60.56% | -52.23% | 130.04% |
| Total Current Liabilities | 1.16M | 6.93M | 6.38M | 2.98M | 2.92M |
| Accounts Payable | 620.04K | 2.29M | 367.13K | 881.84K | 409.7K |
| Days Payables Outstanding | 283.29 | 1.56K | 93.98 | 316.23 | 46.66 |
| Short-Term Debt | 0 | 2.2M | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 47.27K | 120.97K | 120.57K | 7.67K |
| Other Current Liabilities | 0 | 0 | 4.34M | 847.29K | 210.97K |
| Current Ratio | 3.50x | 0.22x | 1.07x | 0.62x | 3.07x |
| Quick Ratio | 3.42x | 0.16x | 0.99x | 0.44x | 2.89x |
| Cash Conversion Cycle | -41.98 | -1.2K | 133.65 | 12.75 | 122.86 |
| Total Non-Current Liabilities | 1.43M | 1.4M | 1.44M | 1.27M | 2.2M |
| Long-Term Debt | 53.25K | 78.8K | 0 | 0 | 0 |
| Capital Lease Obligations | 275.62K | 206.47K | 302.41K | 155.15K | 1.11M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.11M | 1.12M | 1.14M | 1.12M | 1.09M |
| Total Liabilities | 2.59M | 8.33M | 7.82M | 4.25M | 5.12M |
| Total Debt | 361.16K | 2.55M | 429.52K | 302.22K | 1.3M |
| Net Debt | -2.33M | 2.38M | -4.98M | 45.4K | -5.38M |
| Debt / Equity | 0.06x | - | 0.11x | 0.22x | 0.17x |
| Debt / EBITDA | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - |
| Interest Coverage | -79.26x | -19.71x | -16.73x | -38.88x | -35.65x |
| Total Equity | 6.12M▲ 0% | -1M▼ 116.4% | 3.94M▲ 492.4% | 1.37M▼ 65.2% | 7.8M▲ 470.2% |
| Equity Growth % | - | -116.38% | 492.43% | -65.23% | 470.18% |
| Book Value per Share | 2033.11 | -288.44 | 202.46 | 34.74 | 12.79 |
| Total Shareholders' Equity | 6.12M | -1M | 3.94M | 1.37M | 7.8M |
| Common Stock | 17.22M | 19.5M | 33.38M | 37.82M | 47M |
| Retained Earnings | -15.39M | -25.91M | -35.22M | -42.65M | -52.28M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -8.99K | -101.42K | -39.66K | -38.52K | -85.08K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
DFSC Cash Flow Statement
DEFSEC Technologies Inc. (DFSC) cash flow — operating, investing & free cash flow history
| Line item | Sep'21 | Sep'22 | Sep'23 | Sep'24 | Sep'25 |
|---|---|---|---|---|---|
| Cash from Operations | -6.26M | -4.26M | -14.08M | -9.06M | -7.96M |
| Operating CF Margin % | -490.3% | -589.95% | -1140.48% | -602.31% | -160.99% |
| Operating CF Growth % | - | 31.95% | -230.75% | 35.64% | 12.18% |
| Net Income | -9.32M | -10.52M | -9.31M | -7.44M | -9.63M |
| Depreciation & Amortization | 140.99K | 326.49K | 952.51K | 1.28M | 1.08M |
| Stock-Based Compensation | 2.46M | 1.96M | 373.55K | 291.76K | 113.69K |
| Deferred Taxes | 0 | -49.44K | 0 | 0 | 0 |
| Other Non-Cash Items | 258.48K | 386.75K | -3.79M | -2.85M | 832.41K |
| Working Capital Changes | 198.48K | 3.64M | -2.31M | -343.67K | -358.25K |
| Change in Receivables | -218.33K | 631.8K | -128.39K | -267.61K | -925.91K |
| Change in Inventory | 17.55K | 49.45K | -148.85K | 9.22K | 13.55K |
| Change in Payables | -828.7K | 2.52M | -1.67M | -257.26K | 960.77K |
| Cash from Investing | -1.07M | -1.11M | -1.44M | -111.15K | -180.41K |
| Capital Expenditures | -809.96K | -187.48K | -176.95K | -101.33K | -140.62K |
| CapEx % of Revenue | 63.49% | 25.98% | 14.33% | 6.74% | 2.84% |
| Acquisitions | 0 | 250.35K | 7.81K | 0 | 4.39K |
| Investments | - | - | - | - | - |
| Other Investing | -263.23K | -1.18M | -1.27M | -9.82K | -44.17K |
| Cash from Financing | 6.94M | 2.85M | 20.76M | 4.02M | 14.6M |
| Debt Issued (Net) | -242.4K | 2.5M | -2.41M | -197.65K | -172.15K |
| Equity Issued (Net) | 1000K | 344K | 1000K | 1000K | 1000K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 1.18M | 8.1K | -539.15K | -746.31K | -3.94M |
| Net Change in Cash | -385.65K▲ 0% | -2.52M▼ 552.8% | 5.24M▲ 308.0% | -5.15M▼ 198.4% | 6.43M▲ 224.8% |
| Free Cash Flow | -7.15M▲ 0% | -5.62M▲ 21.4% | -15.38M▼ 173.6% | -9.17M▲ 40.4% | -8.12M▲ 11.4% |
| FCF Margin % | -560.31% | -779.01% | -1245.8% | -609.7% | -164.38% |
| FCF Growth % | - | 21.37% | -173.61% | 40.36% | 11.42% |
| FCF per Share | -2373.31 | -1616.55 | -791.13 | -232.87 | -13.32 |
| FCF Conversion (FCF/Net Income) | 0.67x | 0.40x | 1.51x | 1.22x | 0.83x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 |
DFSC Key Ratios
DEFSEC Technologies Inc. (DFSC) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Return on Equity (ROE) | -152.12% | -410.88% | -634.66% | -280.46% | -209.96% |
| Return on Invested Capital (ROIC) | - | -292.35% | -5354.72% | -3953.32% | -355.41% |
| Gross Margin | 37.38% | 25.61% | -15.5% | 32.34% | 35.16% |
| Net Margin | -730.16% | -1458.08% | -753.89% | -494.42% | -194.77% |
| Debt / Equity | 0.06x | - | 0.11x | 0.22x | 0.17x |
| Interest Coverage | -79.26x | -19.71x | -16.73x | -38.88x | -35.65x |
| FCF Conversion | 0.67x | 0.40x | 1.51x | 1.22x | 0.83x |
| Revenue Growth | - | -43.45% | 71.09% | 21.86% | 228.56% |
DFSC Frequently Asked Questions
DEFSEC Technologies Inc. (DFSC) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
DEFSEC Technologies Inc. (DFSC) reported $4.9M in revenue for fiscal year 2025. This represents a 287% increase from $1.3M in 2021.
DEFSEC Technologies Inc. (DFSC) grew revenue by 228.6% over the past year. This is strong growth.
DEFSEC Technologies Inc. (DFSC) reported a net loss of $9.6M for fiscal year 2025.
Dividend & Returns
DEFSEC Technologies Inc. (DFSC) has a return on equity (ROE) of -210.0%. Negative ROE indicates the company is unprofitable.
DEFSEC Technologies Inc. (DFSC) had negative free cash flow of $8.1M in fiscal year 2025, likely due to heavy capital investments.
Explore More DFSC
DEFSEC Technologies Inc. (DFSC) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
Dollar cost averaging vs lump sum
Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates