DRS
$36.80+0.11%
as of close, Oct 2, 2026
☾ AH $36.80 +0.11%
Leonardo DRS Inc.Stock · IndustrialsNasdaq Composite 0.03%US Stock Market 0.005%Russell 1000 0.005%Russell 3000 0.004%
DRS financial statements
The full income statement, balance sheet, and cash-flow statement for Leonardo DRS Inc. (DRS), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 263.7M2024-09 264.4M2024-12 265.2M2025-03 266.0M2025-06 266.1M2025-09 266.0M2025-12 265.8M2026-03 266.8M2026-06 266.9M+1.2% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 3.65B+12.8% | 3.23B+14.4% | 2.83B+4.9% | 2.69B-6.5% | 2.88B+3.6% | |
| 869M+18.1% | 736M+13.6% | 648M+12.7% | 575M+5.1% | 547M+10.7% | ||
| Cost of revenue | 2.78B+11.2% | 2.50B+14.7% | 2.18B+2.8% | 2.12B-9.2% | 2.33B+2.1% | |
| Research & development | 129M+40.2% | 92.0M+12.2% | 82.0M+41.4% | 58.0M+20.8% | 48.0M+17.1% | |
| Selling, general & administrative | 497M+20.0% | 414M+7.8% | 384M+7.6% | 357M+21.8% | 293M+3.5% | |
| General & administrative | 497M+20.0% | 414M+7.8% | 384M+7.6% | 357M+21.8% | 293M+3.5% | |
| Restructuring | 2.00M-75.0% | 8.00M-27.3% | 11.0M+266.7% | 3.00M-40.0% | 5.00M-58.3% | |
| Amortization of intangibles | 22.0M+0.0% | 22.0M+0.0% | 22.0M+120.0% | 10.0M+11.1% | 9.00M+0.0% | |
| Operating income | 348M+18.8% | 293M+26.8% | 231M-58.8% | 561M+137.7% | 236M+30.4% | |
| Interest expense | — | 21.0M-41.7% | 36.0M+5.9% | 34.0M-2.9% | 35.0M-45.3% | |
| Other non-operating income | -4.00M+50.0% | -8.00M-166.7% | -3.00M-50.0% | -2.00M-100.0% | -1.00M+80.0% | |
| Equity-method income | — | — | — | 1.00M-50.0% | 2.00M-33.3% | |
| Pre-tax income | 336M+27.3% | 264M+37.5% | 192M-63.4% | 525M+162.5% | 200M+78.6% | |
| Income tax | 58.0M+13.7% | 51.0M+112.5% | 24.0M-80.0% | 120M+160.9% | 46.0M+70.4% | |
| 278M+30.5% | 213M+26.8% | 168M-58.5% | 405M+163.0% | 154M+81.2% | ||
| Net income to common | 278M+30.5% | 213M+26.8% | 168M-58.5% | 405M+163.0% | 154M+81.2% | |
| $1.03+28.7% | $0.80+25.0% | $0.64-66.0% | $1.88+157.5% | $0.73+82.5% | ||
| EPS (basic) | $1.05+29.6% | $0.81+26.6% | $0.64-66.0% | $1.88+157.5% | $0.73+82.5% | |
| Weighted-avg shares (basic) | 266M+0.8% | 264M+0.8% | 262M+21.7% | 215M+2.3% | 210M+0.0% | |
| Weighted-avg shares (diluted) | 269M+0.4% | 268M+1.3% | 264M+22.8% | 215M+2.4% | 210M+0.0% | |
| Dividends per share | $0.36 | — | — | $1.52 | — | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 2.33B+7.5% | 2.16B+12.8% | 1.92B+12.4% | 1.71B+22.9% | 1.39B+10.0% | ||
| Cash & equivalents | 647M+8.2% | 598M+28.1% | 467M+52.6% | 306M+27.5% | 240M+293.4% | |
| Accounts receivable | 334M+32.0% | 253M+67.5% | 151M-9.0% | 166M+6.4% | 156M+52.9% | |
| Inventory | 352M-1.7% | 358M+8.8% | 329M+3.1% | 319M+55.6% | 205M-17.0% | |
| Prepaid expenses | 26.0M-3.7% | 27.0M+28.6% | 21.0M+5.0% | 20.0M-13.0% | 23.0M-30.3% | |
| Other current assets | 36.0M-34.5% | 55.0M+31.0% | 42.0M+75.0% | 24.0M+9.1% | 22.0M-33.3% | |
| 4.49B+7.2% | 4.18B+6.7% | 3.92B+6.6% | 3.68B+19.8% | 3.07B+3.8% | ||
| Operating lease right-of-use | 107M+35.4% | 79.0M-3.7% | 82.0M-1.2% | 83.0M-1.2% | 84.0M-4.5% | |
| Goodwill | 1.24B+0.0% | 1.24B+0.0% | 1.24B+0.2% | 1.24B+15.4% | 1.07B+1.3% | |
| Intangible assets | 112M-15.2% | 132M-12.6% | 151M-12.2% | 172M+230.8% | 52.0M-13.3% | |
| Deferred tax assets | 88.0M-26.7% | 120M-2.4% | 123M+86.4% | 66.0M+17.9% | 56.0M-35.6% | |
| Other non-current assets | 210M+130.8% | 91.0M+2.2% | 89.0M-3.3% | 92.0M-32.8% | 137M+2.2% | |
| Total non-current assets | 2.16B+6.9% | 2.02B+0.9% | 2.00B+1.7% | 1.97B+17.3% | 1.68B-0.8% | |
| 1.23B+10.3% | 1.12B+3.5% | 1.08B+3.5% | 1.04B+5.4% | 989M+1.4% | ||
| Accounts payable | 351M-17.6% | 426M+7.0% | 398M-12.9% | 457M-4.6% | 479M+0.2% | |
| Deferred revenue | 585M+46.6% | 399M+19.1% | 335M+43.8% | 233M+33.9% | 174M-1.7% | |
| Short-term & current debt | 26.0M+4.0% | 25.0M-56.1% | 57.0M+96.6% | 29.0M-29.3% | 41.0M-22.6% | |
| Current lease liability | 28.0M+3.7% | 27.0M+17.4% | 23.0M-8.0% | 25.0M+4.2% | 24.0M+9.1% | |
| Other current liabilities | 269M+1.1% | 266M-7.6% | 288M-10.8% | 323M+9.5% | 295M+10.5% | |
| Finance lease liability (current) | 10.0M+0.0% | 10.0M+0.0% | 10.0M+25.0% | 8.00M+33.3% | 6.00M+20.0% | |
| Long-term debt | 348M-4.9% | 366M-10.1% | 407M+2.8% | 396M+0.8% | 393M+5.1% | |
| Non-current lease liability | 95.0M+43.9% | 66.0M-2.9% | 68.0M+0.0% | 68.0M-6.8% | 73.0M-9.9% | |
| Operating lease liability (total) | 123M+32.3% | 93.0M+2.2% | 91.0M-2.2% | 93.0M-4.1% | 97.0M | |
| Finance lease liability (total) | 106M-6.2% | 113M-28.5% | 158M-1.9% | 161M+0.0% | 161M-1.2% | |
| Finance lease liability | 96.0M-6.8% | 103M+2.0% | 101M-3.8% | 105M-1.9% | 107M-1.8% | |
| Deferred tax liabilities | 3.00M-57.1% | 7.00M+75.0% | 4.00M | 0.00 | — | |
| Other non-current liabilities | 166M+27.7% | 130M+0.8% | 129M+31.6% | 98.0M+32.4% | 74.0M-19.6% | |
| Total non-current liabilities | 525M+2.7% | 511M-1.4% | 518M+2.0% | 508M+4.3% | 487M-12.1% | |
| 2.73B+6.8% | 2.56B+10.0% | 2.33B+9.3% | 2.13B+33.5% | 1.59B+11.6% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock | 3.00M+0.0% | 3.00M+0.0% | 3.00M+0.0% | 3.00M+50.0% | 2.00M+100.0% | |
| Additional paid-in capital | 5.08B-2.1% | 5.19B+0.4% | 5.17B+0.5% | 5.15B+11.1% | 4.63B-0.0% | |
| Retained earnings | -2.31B+10.7% | -2.59B+7.6% | -2.81B+5.6% | -2.97B+0.3% | -2.98B+4.9% | |
| Accumulated other comprehensive income | -41.0M+12.8% | -47.0M+0.0% | -47.0M+4.1% | -49.0M+15.5% | -58.0M+17.1% | |
| Total liabilities & equity | 4.49B+7.2% | 4.18B+6.7% | 3.92B+6.6% | 3.68B+19.8% | 3.07B+3.8% | |
| Common shares issued | 266M+0.3% | 265M+1.0% | 263M+0.9% | 260M+0.0% | 260M+79.5% | |
| Common shares outstanding | 266M+0.3% | 265M+1.0% | 263M+0.9% | 260M+0.0% | 260M+79.5% | |
| Shares outstanding (cover) | 266M+0.3% | 265M+1.0% | 263M+0.8% | 261M+79.7% | 145M | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 366M+35.1% | 271M+32.2% | 205M+521.2% | 33.0M-81.5% | 178M+42.4% | ||
| Depreciation & amortization | 93.0M+2.2% | 91.0M+7.1% | 85.0M+30.8% | 65.0M+12.1% | 58.0M+9.4% | |
| Intangible amortization | 22.0M+0.0% | 22.0M+0.0% | 22.0M+120.0% | 10.0M+11.1% | 9.00M+0.0% | |
| Share-based compensation | 32.0M+45.5% | 22.0M+29.4% | 17.0M+240.0% | 5.00M | 0.00 | |
| Deferred income taxes | 28.0M+21.7% | 23.0M+144.2% | -52.0M-1833.3% | 3.00M-93.5% | 46.0M+109.1% | |
| Change in receivables | 81.0M-20.6% | 102M+780.0% | -15.0M-1600.0% | 1.00M-98.1% | 54.0M+54.3% | |
| Change in inventory | -6.00M-120.7% | 29.0M+190.0% | 10.0M-69.7% | 33.0M+178.6% | -42.0M-210.5% | |
| Change in payables | -79.0M-626.7% | 15.0M+125.4% | -59.0M-321.4% | -14.0M-1500.0% | 1.00M+101.7% | |
| Other operating activities | 0.00-100.0% | 1.00M+0.0% | 1.00M | 0.00 | 0.00-100.0% | |
| -154M-83.3% | -84.0M-42.4% | -59.0M-113.5% | 436M+1017.9% | 39.0M+155.7% | ||
| Capital expenditure | 139M+63.5% | 85.0M+41.7% | 60.0M-7.7% | 65.0M+8.3% | 60.0M+7.1% | |
| Free cash flow | 227M+22.0% | 186M+28.3% | 145M+553.1% | -32.0M-127.1% | 118M+71.0% | |
| Acquisitions | 0.00 | 0.00 | 0.00+100.0% | -19.0M-235.7% | 14.0M | |
| -163M-191.1% | -56.0M-473.3% | 15.0M+103.7% | -403M-960.5% | -38.0M+52.5% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 9.00M-43.8% | 16.0M+33.3% | 12.0M | 0.00 | 0.00 | |
| Common stock repurchased | 35.0M | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | — | 0.00 | 0.00-100.0% | 396M | 0.00 | |
| Other financing activities | -10.0M+0.0% | -10.0M-150.0% | -4.00M+50.0% | -8.00M | 0.00+100.0% | |
| FX effect on cash | 0.00 | 0.00 | 0.00 | 0.00 | 0.00-100.0% | |
| Net change in cash | 49.0M-62.6% | 131M-18.6% | 161M+143.9% | 66.0M-63.1% | 179M+845.8% | |
| Income taxes paid | 24.0M-66.2% | 71.0M+57.8% | 45.0M-49.4% | 89.0M+456.3% | 16.0M | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 9.06B+5.8% | 8.57B+62.9% | 5.26B+183.7% | 1.85B+35.7% | 1.37B-3.4% | |
| P/E | 32.6×-19.0% | 40.2×+21.6% | 33.1×+610.2% | 4.7×-47.5% | 8.9×-46.7% | |
| P/S | 2.5×-6.2% | 2.6×+37.0% | 1.9×+180.9% | 0.7×+45.0% | 0.5×-6.8% | |
| P/B | 3.3×-0.9% | 3.4×+42.9% | 2.3×+94.6% | 1.2×+40.5% | 0.9×-13.5% | |
| P/FCF | 39.9×-13.3% | 46.1× | — | — | 11.6×-43.5% | |
| Earnings yield | 3.1%+23.4% | 2.5%-17.8% | 3.0%-85.9% | 21.5%+90.5% | 11.3%+87.5% | |
| FCF yield | 2.5%+15.4% | 2.2% | — | — | 8.6%+77.0% | |
| Dividend yield | 1.1% | — | — | 11.9% | — | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: DRS’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all DRS filings on SEC EDGAR → Not investment advice.