Leonardo DRS, Inc. (DRS) 10-Year Financial Performance & Capital Metrics

DRS • • Industrial / General

IndustrialsAerospace & DefenseDefense Electronics & Mission SystemsElectronic Warfare & C4ISR

AboutLeonardo DRS, Inc., together with its subsidiaries, provides defense products and technologies in the land, air, sea, space, cyber and security, and commercial domains for military applications. It operates in two segments, Advanced Sensing and Computing, and Integrated Mission Systems. The company offers advanced sensor technologies, including infrared systems and sensors for threat detection and situational awareness; uncooled infrared systems and brownout solutions; airborne, ground vehicle mounted, and dismounted soldier electronic warfare (EW) systems; and EW software and training systems, and intelligence solutions. It also provides computing systems for ground vehicles, ships, and submarines; network and data distribution applications; sensor systems; and networked computing infrastructure on military platform. In addition, the company offers force protection systems, such as solutions for counter-unmanned aerial systems, short-range air defense systems, and active protection systems; and power control, distribution, conversion, and propulsion systems, as well as hybrid electric drive propulsion systems, energy storage, gas turbine packages, nuclear instrumentation and controls, and thermal management and refrigeration equipment. It serves the U.S. military, aerospace and defense prime contractors, government intelligence agencies, and international military customers. The company was founded in 1969 and is based in Arlington, Virginia.Show more

Revenue $3.23B +14.4%
EBITDA $384M +21.5%
Net Income $213M +26.8%
EPS (Diluted) 0.80 +25.0%
Gross Margin 22.76% -0.7%
EBITDA Margin 11.87% +6.2%
Operating Margin 9.06% +10.8%
Net Margin 6.59% +10.8%
ROE 8.73% +15.6%
ROIC 9.21% +23.9%
Debt/Equity 0.18 -16.2%
Interest Coverage 13.95 +117.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 23.2%
✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y3.57%

3Y3.95%

TTM12.27%

Profit (Net Income) CAGR

10Y-

5Y23.22%

3Y11.42%

TTM33.84%

EPS CAGR

10Y-

5Y9%

3Y-8.95%

TTM33.78%

ROCE

10Y Avg10.52%

5Y Avg12.63%

3Y Avg14.05%

Latest9.91%

Peer Comparison

Electronic Warfare & C4ISR

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ESLTElbit Systems Ltd.	32.49B	699.50	97.42	14.3%	5.92%	11.57%	0.98%	0.42
DRSLeonardo DRS, Inc.	10.87B	40.85	51.06	14.44%	7.42%	10.01%	1.71%	0.18
LHXL3Harris Technologies, Inc.	63.83B	341.24	43.36	9.82%	8.09%	9.01%	3.37%	0.66
CODACoda Octopus Group, Inc.	134.87M	11.99	37.47	4.98%	14.09%	7.18%	1.38%	0.01
OPXSOptex Systems Holdings, Inc	104.68M	15.09	20.39	1214.97%	12.45%	21.19%	100%	0.08
ASTCAstrotech Corporation	6.35M	3.61	-0.43	-36.96%	-10.7%	-73.54%		0.12
VWAVVisionWave Holdings, Inc.	224.02M	13.58	-61.73			-6.24%
MRCYMercury Systems, Inc.	5.96B	99.14	-152.52	9.19%	-7.86%	-4.64%	2%	0.44

Profit & Loss

	Mar 2006	Mar 2007	Mar 2008	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.74B	2.82B	3.3B	2.71B	2.78B	2.88B	2.69B	2.83B	3.23B
Revenue Growth %	-	0.63%	0.17%	-0.18%	0.02%	0.04%	-0.06%	0.05%	0.14%
Cost of Goods Sold+	1.5B	2.46B	2.87B	2.25B	2.28B	2.33B	2.12B	2.18B	2.5B
COGS % of Revenue	0.86%	0.87%	0.87%	0.83%	0.82%	0.81%	0.79%	0.77%	0.77%
Gross Profit+	240.31M	362.48M	426.48M	459M	494M	547M	575M	648M	736M
Gross Margin %	0.14%	0.13%	0.13%	0.17%	0.18%	0.19%	0.21%	0.23%	0.23%
Gross Profit Growth %	-	0.51%	0.18%	0.08%	0.08%	0.11%	0.05%	0.13%	0.14%
Operating Expenses+	47.6M	50.9M	66.1M	296M	313M	311M	14M	417M	443M
OpEx % of Revenue	0.03%	0.02%	0.02%	0.11%	0.11%	0.11%	0.01%	0.15%	0.14%
Selling, General & Admin	0	0	0	277M	283M	293M	357M	384M	414M
SG&A % of Revenue	-	-	-	0.1%	0.1%	0.1%	0.13%	0.14%	0.13%
Research & Development	47.6M	50.9M	66.1M	0	0	0	0	0	0
R&D % of Revenue	0.03%	0.02%	0.02%	-	-	-	-	-	-
Other Operating Expenses	0	0	0	19M	30M	18M	-343M	33M	29M
Operating Income+	192.71M	311.58M	360.38M	163M	181M	236M	561M	231M	293M
Operating Margin %	0.11%	0.11%	0.11%	0.06%	0.07%	0.08%	0.21%	0.08%	0.09%
Operating Income Growth %	-	0.62%	0.16%	-0.55%	0.11%	0.3%	1.38%	-0.59%	0.27%
EBITDA+	241.69M	388.25M	438.57M	214M	234M	294M	626M	316M	384M
EBITDA Margin %	0.14%	0.14%	0.13%	0.08%	0.08%	0.1%	0.23%	0.11%	0.12%
EBITDA Growth %	-	0.61%	0.13%	-0.51%	0.09%	0.26%	1.13%	-0.5%	0.22%
D&A (Non-Cash Add-back)	48.98M	76.66M	78.19M	51M	53M	58M	65M	85M	91M
EBIT	198.14M	308.51M	361.71M	160M	176M	235M	559M	228M	285M
Net Interest Income+	-55.83M	-118.64M	-108.36M	-65M	-64M	-35M	-34M	-36M	-21M
Interest Income	7.25M	1.27M	2.06M	0	0	0	0	0	0
Interest Expense	63.09M	119.91M	110.42M	65M	64M	35M	34M	36M	21M
Other Income/Expense	-57.66M	-122.99M	-109.09M	-68M	-69M	-36M	-36M	-39M	-29M
Pretax Income+	135.05M	188.59M	251.29M	95M	112M	200M	525M	192M	264M
Pretax Margin %	0.08%	0.07%	0.08%	0.04%	0.04%	0.07%	0.19%	0.07%	0.08%
Income Tax+	51.99M	60.1M	83.75M	20M	27M	46M	120M	24M	51M
Effective Tax Rate %	0.6%	0.67%	0.66%	0.79%	0.76%	0.77%	0.77%	0.88%	0.81%
Net Income+	81.49M	127.06M	165.77M	75M	85M	154M	405M	168M	213M
Net Margin %	0.05%	0.05%	0.05%	0.03%	0.03%	0.05%	0.15%	0.06%	0.07%
Net Income Growth %	-	0.56%	0.3%	-0.55%	0.13%	0.81%	1.63%	-0.59%	0.27%
Net Income (Continuing)	83.06M	128.49M	167.53M	75M	85M	154M	405M	168M	213M
Discontinued Operations	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	15.99	6.23	2.01	0.52	0.57	1.06	1.88	0.64	0.80
EPS Growth %	-	-0.61%	-0.68%	-0.74%	0.1%	0.86%	0.77%	-0.66%	0.25%
EPS (Basic)	16.51	6.38	2.01	0.52	0.57	1.06	1.88	0.64	0.81
Diluted Shares Outstanding	5.1M	20.39M	82.69M	145M	149.78M	145M	215M	264M	267.7M
Basic Shares Outstanding	4.94M	19.93M	82.46M	145M	149.78M	145M	215M	262.5M	264M
Dividend Payout Ratio	0.05%	0.04%	0.03%	-	-	-	0.98%	-	-

Balance Sheet

	Mar 2006	Mar 2007	Mar 2008	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	903.57M	1.13B	1.23B	1.25B	1.26B	1.39B	1.71B	1.92B	2.16B
Cash & Short-Term Investments	1.29M	95.83M	86.25M	85M	61M	240M	306M	467M	598M
Cash Only	1.29M	95.83M	86.25M	85M	61M	240M	306M	467M	598M
Short-Term Investments	0	0	0	0	0	0	0	0	0
Accounts Receivable	435.04M	535.24M	574.13M	902M	889M	899M	1.04B	1.06B	1.13B
Days Sales Outstanding	91.49	69.25	63.59	121.31	116.81	113.98	140.69	136.78	126.97
Inventory	331.62M	367.61M	437.71M	209M	247M	205M	319M	329M	358M
Days Inventory Outstanding	80.95	54.57	55.69	33.83	39.47	32.09	54.97	55.14	52.31
Other Current Assets	59.6M	71.5M	58.1M	36M	33M	22M	24M	42M	55M
Total Non-Current Assets+	3.12B	3.09B	3.09B	1.64B	1.69B	1.68B	1.97B	2B	2.02B
Property, Plant & Equipment	220.51M	231.21M	255.68M	253M	355M	364M	404M	402M	440M
Fixed Asset Turnover	7.87x	12.20x	12.89x	10.73x	7.83x	7.91x	6.67x	7.03x	7.35x
Goodwill	2.61B	2.62B	2.62B	1.06B	1.06B	1.07B	1.24B	1.24B	1.24B
Intangible Assets	0	0	0	69M	60M	52M	172M	151M	132M
Long-Term Investments	231.14M	196.98M	167.77M	0	25M	27M	0	0	0
Other Non-Current Assets	56.22M	42.62M	38.24M	141M	109M	110M	92M	89M	91M
Total Assets+	4.02B	4.21B	4.32B	2.89B	2.96B	3.07B	3.68B	3.92B	4.18B
Asset Turnover	0.43x	0.67x	0.76x	0.94x	0.94x	0.94x	0.73x	0.72x	0.77x
Asset Growth %	-	0.05%	0.02%	-0.33%	0.02%	0.04%	0.2%	0.07%	0.07%
Total Current Liabilities+	703.14M	770.53M	870.79M	1B	975M	989M	1.04B	1.08B	1.12B
Accounts Payable	224.67M	297.43M	357.86M	536M	478M	479M	457M	398M	426M
Days Payables Outstanding	54.85	44.16	45.53	86.76	76.39	74.97	78.76	66.7	62.25
Short-Term Debt	4.62M	5.16M	5.38M	56M	53M	41M	29M	57M	25M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	346.41M	331.97M	370.63M	136M	184M	201M	204M	146M	140M
Current Ratio	1.29x	1.46x	1.41x	1.25x	1.30x	1.40x	1.64x	1.78x	1.94x
Quick Ratio	0.81x	0.98x	0.90x	1.04x	1.04x	1.20x	1.33x	1.47x	1.62x
Cash Conversion Cycle	117.6	79.67	73.75	68.38	79.89	71.09	116.91	125.21	117.04
Total Non-Current Liabilities+	1.97B	1.94B	1.76B	868M	554M	487M	508M	518M	511M
Long-Term Debt	1.83B	1.78B	1.63B	656M	374M	352M	365M	349M	340M
Capital Lease Obligations	0	0	0	88M	81M	73M	68M	68M	66M
Deferred Tax Liabilities	35.6M	46.5M	42.1M	0	0	0	0	4M	7M
Other Non-Current Liabilities	102.81M	112.18M	92.07M	124M	99M	62M	75M	97M	98M
Total Liabilities	2.67B	2.71B	2.63B	1.87B	1.53B	1.48B	1.55B	1.6B	1.63B
Total Debt+	1.83B	1.79B	1.63B	821M	530M	490M	487M	497M	458M
Net Debt	1.83B	1.69B	1.55B	736M	469M	250M	181M	30M	-140M
Debt / Equity	1.36x	1.19x	0.97x	0.81x	0.37x	0.31x	0.23x	0.21x	0.18x
Debt / EBITDA	7.59x	4.61x	3.72x	3.84x	2.26x	1.67x	0.78x	1.57x	1.19x
Net Debt / EBITDA	7.58x	4.36x	3.53x	3.44x	2.00x	0.85x	0.29x	0.09x	-0.36x
Interest Coverage	3.05x	2.60x	3.26x	2.51x	2.83x	6.74x	16.50x	6.42x	13.95x
Total Equity+	1.35B	1.5B	1.68B	1.02B	1.43B	1.59B	2.13B	2.33B	2.56B
Equity Growth %	-	0.11%	0.12%	-0.39%	0.4%	0.12%	0.34%	0.09%	0.1%
Book Value per Share	265.22	73.69	20.36	7.03	9.53	10.99	9.89	8.81	9.55
Total Shareholders' Equity	1.35B	1.5B	1.68B	1.02B	1.43B	1.59B	2.13B	2.33B	2.56B
Common Stock	399K	407K	414K	1M	1M	2M	3M	3M	3M
Retained Earnings	277.71M	399.79M	537.13M	-3.22B	-3.14B	-2.98B	-2.97B	-2.81B	-2.59B
Treasury Stock	0	0	0	0	0	0	0	0	0
Accumulated OCI	-3.31M	2.26M	16.14M	-93M	-70M	-58M	-49M	-47M	-47M
Minority Interest	0	0	0	0	0	0	0	0	0

Cash Flow

	Mar 2006	Mar 2007	Mar 2008	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	157.06M	195.24M	211.46M	157M	125M	178M	33M	205M	271M
Operating CF Margin %	0.09%	0.07%	0.06%	0.06%	0.04%	0.06%	0.01%	0.07%	0.08%
Operating CF Growth %	-	0.24%	0.08%	-0.26%	-0.2%	0.42%	-0.81%	5.21%	0.32%
Net Income	81.49M	127.06M	165.77M	75M	85M	154M	405M	168M	213M
Depreciation & Amortization	48.98M	76.66M	78.19M	51M	53M	58M	65M	85M	91M
Stock-Based Compensation	0	0	0	0	0	0	5M	17M	22M
Deferred Taxes	15.45M	10.62M	17.2M	12M	30M	31M	-6M	-52M	23M
Other Non-Cash Items	122.08M	255.86M	254.98M	3M	3M	0	-354M	1M	1M
Working Capital Changes	1.22M	-37.67M	-60.51M	16M	-46M	-65M	-82M	-14M	-79M
Change in Receivables	-28.55M	-100.8M	-38.64M	9M	-35M	-54M	-1M	15M	-102M
Change in Inventory	-36.66M	-51.28M	-104.6M	-36M	-38M	42M	-33M	-10M	-29M
Change in Payables	51.01M	68.11M	55.44M	156M	-58M	1M	-14M	-59M	15M
Cash from Investing+	-1.47B	-69.92M	-76.84M	-151M	-70M	39M	436M	-59M	-84M
Capital Expenditures	-43.19M	-55.91M	-71.31M	-55M	-56M	-60M	-65M	-60M	-85M
CapEx % of Revenue	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-
Other Investing	62K	2.73M	441K	-92M	-10M	55M	0	1M	1M
Cash from Financing+	1B	-31M	-144.35M	-1M	-80M	-38M	-403M	15M	-56M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-
Dividends Paid	-3.71M	-4.96M	-4.93M	0	0	0	-396M	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-
Other Financing	0	5.36M	5.48M	-2M	-4M	0	-5M	-4M	-10M
Net Change in Cash	-	-	-	-	-	-	-	-	-
Free Cash Flow+	113.87M	139.33M	140.15M	102M	69M	118M	-32M	145M	186M
FCF Margin %	0.07%	0.05%	0.04%	0.04%	0.02%	0.04%	-0.01%	0.05%	0.06%
FCF Growth %	-	0.22%	0.01%	-0.27%	-0.32%	0.71%	-1.27%	5.53%	0.28%
FCF per Share	22.34	6.83	1.69	0.70	0.46	0.81	-0.15	0.55	0.69
FCF Conversion (FCF/Net Income)	1.93x	1.54x	1.28x	2.09x	1.47x	1.16x	0.08x	1.22x	1.27x
Interest Paid	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2005	2006	2007	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	6.03%	8.9%	10.41%	5.55%	6.95%	10.2%	21.77%	7.55%	8.73%
Return on Invested Capital (ROIC)	4.54%	7.33%	8.41%	4.9%	7.44%	9.47%	20.27%	7.43%	9.21%
Gross Margin	13.85%	12.85%	12.94%	16.91%	17.78%	19%	21.35%	22.93%	22.76%
Net Margin	4.7%	4.5%	5.03%	2.76%	3.06%	5.35%	15.04%	5.94%	6.59%
Debt / Equity	1.36x	1.19x	0.97x	0.81x	0.37x	0.31x	0.23x	0.21x	0.18x
Interest Coverage	3.05x	2.60x	3.26x	2.51x	2.83x	6.74x	16.50x	6.42x	13.95x
FCF Conversion	1.93x	1.54x	1.28x	2.09x	1.47x	1.16x	0.08x	1.22x	1.27x
Revenue Growth	-	62.55%	16.81%	-17.64%	2.36%	3.64%	-6.46%	4.94%	14.44%

Revenue by Segment

	2021	2022	2023	2024
Integrated Mission Systems	-	-	-	1.14B
Integrated Mission Systems Growth	-	-	-	-
Product	2.5B	2.44B	2.63B	-
Product Growth	-	-2.48%	7.70%	-
Service	374M	250M	195M	-
Service Growth	-	-33.16%	-22.00%	-

Frequently Asked Questions

Valuation & Price

Leonardo DRS, Inc. (DRS) has a price-to-earnings (P/E) ratio of 51.1x. This suggests investors expect higher future growth.

Growth & Financials

Leonardo DRS, Inc. (DRS) reported $3.57B in revenue for fiscal year 2024. This represents a 106% increase from $1.74B in 2005.

Leonardo DRS, Inc. (DRS) grew revenue by 14.4% over the past year. This is steady growth.

Yes, Leonardo DRS, Inc. (DRS) is profitable, generating $265.0M in net income for fiscal year 2024 (6.6% net margin).

Dividend & Returns

Leonardo DRS, Inc. (DRS) has a return on equity (ROE) of 8.7%. This is below average, suggesting room for improvement.

Leonardo DRS, Inc. (DRS) generated $265.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Leonardo DRS, Inc. (DRS) 10-Year Financial Performance & Capital Metrics

DRS • • Industrial / General

IndustrialsAerospace & DefenseDefense Electronics & Mission SystemsElectronic Warfare & C4ISR

Revenue $3.23B +14.4%
EBITDA $384M +21.5%
Net Income $213M +26.8%
EPS (Diluted) 0.80 +25.0%
Gross Margin 22.76% -0.7%
EBITDA Margin 11.87% +6.2%
Operating Margin 9.06% +10.8%
Net Margin 6.59% +10.8%
ROE 8.73% +15.6%
ROIC 9.21% +23.9%
Debt/Equity 0.18 -16.2%
Interest Coverage 13.95 +117.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 23.2%
✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y3.57%

3Y3.95%

TTM12.27%

Profit (Net Income) CAGR

10Y-

5Y23.22%

3Y11.42%

TTM33.84%

EPS CAGR

10Y-

5Y9%

3Y-8.95%

TTM33.78%

ROCE

10Y Avg10.52%

5Y Avg12.63%

3Y Avg14.05%

Latest9.91%

Peer Comparison

Electronic Warfare & C4ISR

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ESLTElbit Systems Ltd.	32.49B	699.50	97.42	14.3%	5.92%	11.57%	0.98%	0.42
DRSLeonardo DRS, Inc.	10.87B	40.85	51.06	14.44%	7.42%	10.01%	1.71%	0.18
LHXL3Harris Technologies, Inc.	63.83B	341.24	43.36	9.82%	8.09%	9.01%	3.37%	0.66
CODACoda Octopus Group, Inc.	134.87M	11.99	37.47	4.98%	14.09%	7.18%	1.38%	0.01
OPXSOptex Systems Holdings, Inc	104.68M	15.09	20.39	1214.97%	12.45%	21.19%	100%	0.08
ASTCAstrotech Corporation	6.35M	3.61	-0.43	-36.96%	-10.7%	-73.54%		0.12
VWAVVisionWave Holdings, Inc.	224.02M	13.58	-61.73			-6.24%
MRCYMercury Systems, Inc.	5.96B	99.14	-152.52	9.19%	-7.86%	-4.64%	2%	0.44

Profit & Loss

	Mar 2006	Mar 2007	Mar 2008	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.74B	2.82B	3.3B	2.71B	2.78B	2.88B	2.69B	2.83B	3.23B
Revenue Growth %	-	0.63%	0.17%	-0.18%	0.02%	0.04%	-0.06%	0.05%	0.14%
Cost of Goods Sold+	1.5B	2.46B	2.87B	2.25B	2.28B	2.33B	2.12B	2.18B	2.5B
COGS % of Revenue	0.86%	0.87%	0.87%	0.83%	0.82%	0.81%	0.79%	0.77%	0.77%
Gross Profit+	240.31M	362.48M	426.48M	459M	494M	547M	575M	648M	736M
Gross Margin %	0.14%	0.13%	0.13%	0.17%	0.18%	0.19%	0.21%	0.23%	0.23%
Gross Profit Growth %	-	0.51%	0.18%	0.08%	0.08%	0.11%	0.05%	0.13%	0.14%
Operating Expenses+	47.6M	50.9M	66.1M	296M	313M	311M	14M	417M	443M
OpEx % of Revenue	0.03%	0.02%	0.02%	0.11%	0.11%	0.11%	0.01%	0.15%	0.14%
Selling, General & Admin	0	0	0	277M	283M	293M	357M	384M	414M
SG&A % of Revenue	-	-	-	0.1%	0.1%	0.1%	0.13%	0.14%	0.13%
Research & Development	47.6M	50.9M	66.1M	0	0	0	0	0	0
R&D % of Revenue	0.03%	0.02%	0.02%	-	-	-	-	-	-
Other Operating Expenses	0	0	0	19M	30M	18M	-343M	33M	29M
Operating Income+	192.71M	311.58M	360.38M	163M	181M	236M	561M	231M	293M
Operating Margin %	0.11%	0.11%	0.11%	0.06%	0.07%	0.08%	0.21%	0.08%	0.09%
Operating Income Growth %	-	0.62%	0.16%	-0.55%	0.11%	0.3%	1.38%	-0.59%	0.27%
EBITDA+	241.69M	388.25M	438.57M	214M	234M	294M	626M	316M	384M
EBITDA Margin %	0.14%	0.14%	0.13%	0.08%	0.08%	0.1%	0.23%	0.11%	0.12%
EBITDA Growth %	-	0.61%	0.13%	-0.51%	0.09%	0.26%	1.13%	-0.5%	0.22%
D&A (Non-Cash Add-back)	48.98M	76.66M	78.19M	51M	53M	58M	65M	85M	91M
EBIT	198.14M	308.51M	361.71M	160M	176M	235M	559M	228M	285M
Net Interest Income+	-55.83M	-118.64M	-108.36M	-65M	-64M	-35M	-34M	-36M	-21M
Interest Income	7.25M	1.27M	2.06M	0	0	0	0	0	0
Interest Expense	63.09M	119.91M	110.42M	65M	64M	35M	34M	36M	21M
Other Income/Expense	-57.66M	-122.99M	-109.09M	-68M	-69M	-36M	-36M	-39M	-29M
Pretax Income+	135.05M	188.59M	251.29M	95M	112M	200M	525M	192M	264M
Pretax Margin %	0.08%	0.07%	0.08%	0.04%	0.04%	0.07%	0.19%	0.07%	0.08%
Income Tax+	51.99M	60.1M	83.75M	20M	27M	46M	120M	24M	51M
Effective Tax Rate %	0.6%	0.67%	0.66%	0.79%	0.76%	0.77%	0.77%	0.88%	0.81%
Net Income+	81.49M	127.06M	165.77M	75M	85M	154M	405M	168M	213M
Net Margin %	0.05%	0.05%	0.05%	0.03%	0.03%	0.05%	0.15%	0.06%	0.07%
Net Income Growth %	-	0.56%	0.3%	-0.55%	0.13%	0.81%	1.63%	-0.59%	0.27%
Net Income (Continuing)	83.06M	128.49M	167.53M	75M	85M	154M	405M	168M	213M
Discontinued Operations	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	15.99	6.23	2.01	0.52	0.57	1.06	1.88	0.64	0.80
EPS Growth %	-	-0.61%	-0.68%	-0.74%	0.1%	0.86%	0.77%	-0.66%	0.25%
EPS (Basic)	16.51	6.38	2.01	0.52	0.57	1.06	1.88	0.64	0.81
Diluted Shares Outstanding	5.1M	20.39M	82.69M	145M	149.78M	145M	215M	264M	267.7M
Basic Shares Outstanding	4.94M	19.93M	82.46M	145M	149.78M	145M	215M	262.5M	264M
Dividend Payout Ratio	0.05%	0.04%	0.03%	-	-	-	0.98%	-	-

Balance Sheet

	Mar 2006	Mar 2007	Mar 2008	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	903.57M	1.13B	1.23B	1.25B	1.26B	1.39B	1.71B	1.92B	2.16B
Cash & Short-Term Investments	1.29M	95.83M	86.25M	85M	61M	240M	306M	467M	598M
Cash Only	1.29M	95.83M	86.25M	85M	61M	240M	306M	467M	598M
Short-Term Investments	0	0	0	0	0	0	0	0	0
Accounts Receivable	435.04M	535.24M	574.13M	902M	889M	899M	1.04B	1.06B	1.13B
Days Sales Outstanding	91.49	69.25	63.59	121.31	116.81	113.98	140.69	136.78	126.97
Inventory	331.62M	367.61M	437.71M	209M	247M	205M	319M	329M	358M
Days Inventory Outstanding	80.95	54.57	55.69	33.83	39.47	32.09	54.97	55.14	52.31
Other Current Assets	59.6M	71.5M	58.1M	36M	33M	22M	24M	42M	55M
Total Non-Current Assets+	3.12B	3.09B	3.09B	1.64B	1.69B	1.68B	1.97B	2B	2.02B
Property, Plant & Equipment	220.51M	231.21M	255.68M	253M	355M	364M	404M	402M	440M
Fixed Asset Turnover	7.87x	12.20x	12.89x	10.73x	7.83x	7.91x	6.67x	7.03x	7.35x
Goodwill	2.61B	2.62B	2.62B	1.06B	1.06B	1.07B	1.24B	1.24B	1.24B
Intangible Assets	0	0	0	69M	60M	52M	172M	151M	132M
Long-Term Investments	231.14M	196.98M	167.77M	0	25M	27M	0	0	0
Other Non-Current Assets	56.22M	42.62M	38.24M	141M	109M	110M	92M	89M	91M
Total Assets+	4.02B	4.21B	4.32B	2.89B	2.96B	3.07B	3.68B	3.92B	4.18B
Asset Turnover	0.43x	0.67x	0.76x	0.94x	0.94x	0.94x	0.73x	0.72x	0.77x
Asset Growth %	-	0.05%	0.02%	-0.33%	0.02%	0.04%	0.2%	0.07%	0.07%
Total Current Liabilities+	703.14M	770.53M	870.79M	1B	975M	989M	1.04B	1.08B	1.12B
Accounts Payable	224.67M	297.43M	357.86M	536M	478M	479M	457M	398M	426M
Days Payables Outstanding	54.85	44.16	45.53	86.76	76.39	74.97	78.76	66.7	62.25
Short-Term Debt	4.62M	5.16M	5.38M	56M	53M	41M	29M	57M	25M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	346.41M	331.97M	370.63M	136M	184M	201M	204M	146M	140M
Current Ratio	1.29x	1.46x	1.41x	1.25x	1.30x	1.40x	1.64x	1.78x	1.94x
Quick Ratio	0.81x	0.98x	0.90x	1.04x	1.04x	1.20x	1.33x	1.47x	1.62x
Cash Conversion Cycle	117.6	79.67	73.75	68.38	79.89	71.09	116.91	125.21	117.04
Total Non-Current Liabilities+	1.97B	1.94B	1.76B	868M	554M	487M	508M	518M	511M
Long-Term Debt	1.83B	1.78B	1.63B	656M	374M	352M	365M	349M	340M
Capital Lease Obligations	0	0	0	88M	81M	73M	68M	68M	66M
Deferred Tax Liabilities	35.6M	46.5M	42.1M	0	0	0	0	4M	7M
Other Non-Current Liabilities	102.81M	112.18M	92.07M	124M	99M	62M	75M	97M	98M
Total Liabilities	2.67B	2.71B	2.63B	1.87B	1.53B	1.48B	1.55B	1.6B	1.63B
Total Debt+	1.83B	1.79B	1.63B	821M	530M	490M	487M	497M	458M
Net Debt	1.83B	1.69B	1.55B	736M	469M	250M	181M	30M	-140M
Debt / Equity	1.36x	1.19x	0.97x	0.81x	0.37x	0.31x	0.23x	0.21x	0.18x
Debt / EBITDA	7.59x	4.61x	3.72x	3.84x	2.26x	1.67x	0.78x	1.57x	1.19x
Net Debt / EBITDA	7.58x	4.36x	3.53x	3.44x	2.00x	0.85x	0.29x	0.09x	-0.36x
Interest Coverage	3.05x	2.60x	3.26x	2.51x	2.83x	6.74x	16.50x	6.42x	13.95x
Total Equity+	1.35B	1.5B	1.68B	1.02B	1.43B	1.59B	2.13B	2.33B	2.56B
Equity Growth %	-	0.11%	0.12%	-0.39%	0.4%	0.12%	0.34%	0.09%	0.1%
Book Value per Share	265.22	73.69	20.36	7.03	9.53	10.99	9.89	8.81	9.55
Total Shareholders' Equity	1.35B	1.5B	1.68B	1.02B	1.43B	1.59B	2.13B	2.33B	2.56B
Common Stock	399K	407K	414K	1M	1M	2M	3M	3M	3M
Retained Earnings	277.71M	399.79M	537.13M	-3.22B	-3.14B	-2.98B	-2.97B	-2.81B	-2.59B
Treasury Stock	0	0	0	0	0	0	0	0	0
Accumulated OCI	-3.31M	2.26M	16.14M	-93M	-70M	-58M	-49M	-47M	-47M
Minority Interest	0	0	0	0	0	0	0	0	0

Cash Flow

	Mar 2006	Mar 2007	Mar 2008	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	157.06M	195.24M	211.46M	157M	125M	178M	33M	205M	271M
Operating CF Margin %	0.09%	0.07%	0.06%	0.06%	0.04%	0.06%	0.01%	0.07%	0.08%
Operating CF Growth %	-	0.24%	0.08%	-0.26%	-0.2%	0.42%	-0.81%	5.21%	0.32%
Net Income	81.49M	127.06M	165.77M	75M	85M	154M	405M	168M	213M
Depreciation & Amortization	48.98M	76.66M	78.19M	51M	53M	58M	65M	85M	91M
Stock-Based Compensation	0	0	0	0	0	0	5M	17M	22M
Deferred Taxes	15.45M	10.62M	17.2M	12M	30M	31M	-6M	-52M	23M
Other Non-Cash Items	122.08M	255.86M	254.98M	3M	3M	0	-354M	1M	1M
Working Capital Changes	1.22M	-37.67M	-60.51M	16M	-46M	-65M	-82M	-14M	-79M
Change in Receivables	-28.55M	-100.8M	-38.64M	9M	-35M	-54M	-1M	15M	-102M
Change in Inventory	-36.66M	-51.28M	-104.6M	-36M	-38M	42M	-33M	-10M	-29M
Change in Payables	51.01M	68.11M	55.44M	156M	-58M	1M	-14M	-59M	15M
Cash from Investing+	-1.47B	-69.92M	-76.84M	-151M	-70M	39M	436M	-59M	-84M
Capital Expenditures	-43.19M	-55.91M	-71.31M	-55M	-56M	-60M	-65M	-60M	-85M
CapEx % of Revenue	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-
Other Investing	62K	2.73M	441K	-92M	-10M	55M	0	1M	1M
Cash from Financing+	1B	-31M	-144.35M	-1M	-80M	-38M	-403M	15M	-56M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-
Dividends Paid	-3.71M	-4.96M	-4.93M	0	0	0	-396M	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-
Other Financing	0	5.36M	5.48M	-2M	-4M	0	-5M	-4M	-10M
Net Change in Cash	-	-	-	-	-	-	-	-	-
Free Cash Flow+	113.87M	139.33M	140.15M	102M	69M	118M	-32M	145M	186M
FCF Margin %	0.07%	0.05%	0.04%	0.04%	0.02%	0.04%	-0.01%	0.05%	0.06%
FCF Growth %	-	0.22%	0.01%	-0.27%	-0.32%	0.71%	-1.27%	5.53%	0.28%
FCF per Share	22.34	6.83	1.69	0.70	0.46	0.81	-0.15	0.55	0.69
FCF Conversion (FCF/Net Income)	1.93x	1.54x	1.28x	2.09x	1.47x	1.16x	0.08x	1.22x	1.27x
Interest Paid	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2005	2006	2007	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	6.03%	8.9%	10.41%	5.55%	6.95%	10.2%	21.77%	7.55%	8.73%
Return on Invested Capital (ROIC)	4.54%	7.33%	8.41%	4.9%	7.44%	9.47%	20.27%	7.43%	9.21%
Gross Margin	13.85%	12.85%	12.94%	16.91%	17.78%	19%	21.35%	22.93%	22.76%
Net Margin	4.7%	4.5%	5.03%	2.76%	3.06%	5.35%	15.04%	5.94%	6.59%
Debt / Equity	1.36x	1.19x	0.97x	0.81x	0.37x	0.31x	0.23x	0.21x	0.18x
Interest Coverage	3.05x	2.60x	3.26x	2.51x	2.83x	6.74x	16.50x	6.42x	13.95x
FCF Conversion	1.93x	1.54x	1.28x	2.09x	1.47x	1.16x	0.08x	1.22x	1.27x
Revenue Growth	-	62.55%	16.81%	-17.64%	2.36%	3.64%	-6.46%	4.94%	14.44%

Revenue by Segment

	2021	2022	2023	2024
Integrated Mission Systems	-	-	-	1.14B
Integrated Mission Systems Growth	-	-	-	-
Product	2.5B	2.44B	2.63B	-
Product Growth	-	-2.48%	7.70%	-
Service	374M	250M	195M	-
Service Growth	-	-33.16%	-22.00%	-

Frequently Asked Questions

Valuation & Price

Leonardo DRS, Inc. (DRS) has a price-to-earnings (P/E) ratio of 51.1x. This suggests investors expect higher future growth.

Growth & Financials

Leonardo DRS, Inc. (DRS) reported $3.57B in revenue for fiscal year 2024. This represents a 106% increase from $1.74B in 2005.

Leonardo DRS, Inc. (DRS) grew revenue by 14.4% over the past year. This is steady growth.

Yes, Leonardo DRS, Inc. (DRS) is profitable, generating $265.0M in net income for fiscal year 2024 (6.6% net margin).

Dividend & Returns

Leonardo DRS, Inc. (DRS) has a return on equity (ROE) of 8.7%. This is below average, suggesting room for improvement.

Leonardo DRS, Inc. (DRS) generated $265.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.