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Leonardo DRS, Inc. DRS ASC — Total company-funded independent research and development

Other segment segments

IMS
$7M+40.0%

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Other financials

Income statement

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Revenue$846.0M+5.9%
Gross profit$212.0M+17.1%
Operating income$77.0M+30.5%
Net income$62.0M+24.0%
EPS (diluted)$0.23+21.1%

Balance sheet

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Cash & equivalents$328.0M-13.7%
Total debt$170.0M-53.7%
Total equity$2.8B+7.7%
Total assets$4.2B+2.8%

Cash flow

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Operating cash flow-$66.0M+52.2%
CapEx$30.0M-6.3%
Free cash flow-$96.0M+43.5%

Valuation

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Market cap$11.91B+8.3%
Enterprise value$11.75B+6.1%
P/E41.1×-2.9×
P/S3.2×0.0×

Profitability

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Gross margin24.4%+1.5pp
Operating margin9.9%+0.7pp
Net margin7.8%+0.9pp
FCF margin8.1%

Returns & leverage

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Return on equity10.9%+1.4pp
Debt / equity0.1×-0.1×
Current ratio1.9×-0.2×

Where this comes from

Reported directly by Leonardo DRS, Inc. in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The source filing: Leonardo DRS, Inc.’s 10-Q, filed May 5, 2026.

Filed
May 5, 2026, 4:36 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001833756-26-000025
(Dollars in millions)Three Months Ended March 31, 20262025
Corporate & Eliminations
Total general and administrative$99$89
Company-funded independent research and development
ASC$24$23
IMS75
Corporate & Eliminations
Total company-funded independent research and development$31$28
Amortization of acquired intangible assets

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED)

FAQ

What is Leonardo DRS, Inc.'s ASC — total company-funded independent research and development?
Leonardo DRS, Inc. (DRS) reported ASC — total company-funded independent research and development of $24M in Q1 2026.
How has Leonardo DRS, Inc.'s ASC — total company-funded independent research and development changed year-over-year?
Leonardo DRS, Inc.'s ASC — total company-funded independent research and development increased by 4.3% year-over-year, from $23M to $24M.
What is the long-term trend for Leonardo DRS, Inc.'s ASC — total company-funded independent research and development?
Over 3 years (2022 to 2025), Leonardo DRS, Inc.'s ASC — total company-funded independent research and development has grown at a 33.2% compound annual growth rate (CAGR), from $44M to $104M.
What does ASC — total company-funded independent research and development mean?
Reflects the investment made by the company into internal research and development projects for the Advanced Sensing and Computing segment. These expenditures are aimed at developing new defense technologies and maintaining a competitive edge in sensing and computing domains.

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