Leonardo DRS, Inc.

Listed Company

DRSCIK 0001833756NasdaqLarge AcceleratedSearch, Detection, Navigation, Guidance, Aeronautical SysDelawareFY ends Dec 31

Period

FY 2025

Revenue

$3.65B

Net Income

$278.00M

Total Assets

$4.49B

Equity

$2.73B

Shares Out

266.76M

Op. Cash Flow

$366.00M

DRS$44.11−8.75% · past yearDBEQ Basic

Daily closing prices

Business

Leonardo DRS, Inc. provides advanced sensing, network computing, force protection, and electric power and propulsion systems to U.S. national security customers and allied defense forces. The company designs, develops, manufactures, and integrates solutions for counter-unmanned aircraft systems, infrared sensing, naval propulsion, electronic warfare, and shipboard combat systems. Operations span two segments: Advanced Sensing and Computing, which develops electro-optical/infrared sensors, tactical radars, and edge computing products; and Integrated Mission Systems, which provides naval propulsion systems, power conversion equipment, and ground vehicle integration.

Summary from 10-K filed 2026-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	3,648	3,234	2,826	2,693	2,879
Cost of revenues	−2,779	−2,498	−2,178	−2,118	−2,332
Gross profit	869	736	648	575	547
General and administrative expenses	−497	−414	−384	−357	−293
Amortization of acquired intangible assets	−22	−22	−22	−10	−9
Other operating expenses, net	−2	−7	−11	353	−9
Operating earnings	348	293	231	561	236
Interest expense, net	−8	−21	−36	—	—
Other, net	−4	−8	−3	−2	−1
Earnings before taxes	336	264	192	525	200
Income tax provision	−58	−51	−24	120	46
Net earnings	278	213	168	405	154
Basic earnings per share (in dollars per share)	1.05	0.81	0.64	1.88	0.73
Diluted earnings per share (in dollars per share)	1.03	0.8	0.64	1.88	0.73

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	647	598	467	306	240
Accounts receivable, net	334	253	151	166	156
Contract assets	931	872	908	872	743
Inventories	352	358	329	319	205
Prepaid expenses	26	27	21	20	23
Other current assets	36	55	42	24	22
Total current assets	2,326	2,163	1,918	1,707	1,389
Property, plant and equipment, net	512	440	402	404	364
Intangible assets, net	112	132	151	172	52
Goodwill	1,238	1,238	1,238	1,236	1,071
Deferred tax assets	88	120	123	66	56
Other noncurrent assets	210	91	89	92	137
Total noncurrent assets	2,160	2,021	2,003	1,970	1,680
Total assets	4,486	4,184	3,921	3,677	3,069
Short-term borrowings and current portion of long-term debt	26	25	57	29	41
Accounts payable	351	426	398	457	479
Contract liabilities	585	399	335	233	174
Other current liabilities	269	266	288	323	295
Total current liabilities	1,231	1,116	1,078	1,042	989
Long-term debt	321	340	349	365	352
Pension and other postretirement benefit plan liabilities	35	34	36	45	61
Deferred tax liabilities	3	7	4	0	—
Other noncurrent liabilities	166	130	129	98	74
Total noncurrent liabilities	525	511	518	508	487
Commitments and contingencies (Note 16)	—	—	—	—	—
Preferred stock, $0.01 par value: 10,000,000 shares authorized; none issued	0	0	0	0	0
Common stock, $0.01 par value: 350,000,000 shares authorized; 265,822,404 and 265,064,755 shares issued and outstanding as of December 31, 2025 and 2024, respectively	3	3	3	3	2
Additional paid-in capital	5,083	5,194	5,175	5,147	4,632
Accumulated deficit	−2,315	−2,593	−2,806	−2,974	−2,983
Accumulated other comprehensive loss	−41	−47	−47	−49	−58
Total stockholders' equity	2,730	2,557	2,325	2,127	1,593
Total liabilities and stockholders' equity	4,486	4,184	3,921	3,677	3,069

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	93	91	85	65	58
Deferred income taxes	28	23	−52	—	—
Stock-based compensation expense	32	22	17	5	0
Other	0	1	1	0	0
Accounts receivable	−81	−102	15	−1	−54
Contract assets	−59	36	−36	−134	−71
Inventories	6	−29	−10	−33	42
Prepaid expenses	1	−6	−1	−1	10
Other current assets	23	−13	−18	3	12
Other noncurrent assets	−44	17	19	24	19
Defined benefit obligations	−10	−2	−8	−4	−13
Accounts payable	−79	15	−59	−14	1
Contract liabilities	186	64	102	72	−3
Other current liabilities	3	−39	−26	14	28
Other noncurrent liabilities	−11	−20	8	−8	−36
Net cash provided by operating activities	366	271	205	33	178
Capital expenditures	−139	−85	−60	−65	−60
Proceeds from sales of assets	0	1	1	0	0
Purchases of investments	−15	0	0	—	—
Net cash used in investing activities	−154	−84	−59	436	39
Net increase (decrease) in borrowings (maturities of 90 days or less)	1	−32	20	−8	−18
Repayments of borrowings	−11	−291	−727	0	0
Proceeds from borrowings	0	280	715	223	0
Proceeds from stock issuance	9	16	12	0	0
Repurchases of common stock	−35	0	0	—	—
Payments of employee taxes withheld from stock-based awards	−21	−19	−1	—	—
Other	−10	−10	−4	−8	0
Net cash (used in) provided by financing activities	−163	−56	15	−403	−38
Effect of exchange rate changes on cash and cash equivalents	0	0	0	0	0
Net increase in cash and cash equivalents	49	131	161	66	179

Filings

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Frequently asked questions

What is Leonardo DRS, Inc.'s CIK number?

Leonardo DRS, Inc.'s SEC CIK number is 0001833756 (1833756). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Leonardo DRS, Inc.'s SEC filings?

All of Leonardo DRS, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Leonardo DRS, Inc. last report earnings?

Leonardo DRS, Inc. (DRS) most recently filed an earnings 8-K with the SEC on May 5, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001833756-26-000023). This is Leonardo DRS, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Leonardo DRS, Inc.'s most recent earnings 8-K?

Leonardo DRS, Inc.'s latest earnings 8-K (Item 2.02) was filed May 5, 2026 under accession 0001833756-26-000023. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Leonardo DRS, Inc.'s latest earnings 8-K →
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