# Leonardo DRS, Inc.: financial statements, quarterly

DRS · Nasdaq · CIK 1833756 · [Technology](/sectors/technology.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/drs.md) · [Financials](/companies/drs/financials.md) · [Filings](/companies/drs/filings.md) · [Insiders](/companies/drs/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/drs/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [703](/filings/0001628280-24-044314.md) | [926 d](/filings/0001833756-26-000013.md) | [688](/filings/0001628280-25-021521.md) | [753](/filings/0001628280-25-036706.md) | [812](/filings/0001833756-25-000010.md) | [981 d](/filings/0001833756-26-000013.md) | [799](/filings/0001833756-26-000025.md) | [829](/filings/0001833756-26-000040.md) | [960](/filings/0001833756-25-000010.md) | [1,060 d](/filings/0001833756-26-000013.md) | [846](/filings/0001833756-26-000025.md) | [913](/filings/0001833756-26-000040.md) |
| Cost of revenue | $m | [541](/filings/0001628280-24-044314.md) | [716 d](/filings/0001833756-26-000013.md) | [535](/filings/0001628280-25-021521.md) | [584](/filings/0001628280-25-036706.md) | [633](/filings/0001833756-25-000010.md) | [746 d](/filings/0001833756-26-000013.md) | [618](/filings/0001833756-26-000025.md) | [632](/filings/0001833756-26-000040.md) | [738](/filings/0001833756-25-000010.md) | [791 d](/filings/0001833756-26-000013.md) | [634](/filings/0001833756-26-000025.md) | [676](/filings/0001833756-26-000040.md) |
| Gross profit | $m | [162](/filings/0001628280-24-044314.md) | [210 d](/filings/0001833756-26-000013.md) | [153](/filings/0001628280-25-021521.md) | [169](/filings/0001628280-25-036706.md) | [179](/filings/0001833756-25-000010.md) | [235 d](/filings/0001833756-26-000013.md) | [181](/filings/0001833756-26-000025.md) | [197](/filings/0001833756-26-000040.md) | [222](/filings/0001833756-25-000010.md) | [269 d](/filings/0001833756-26-000013.md) | [212](/filings/0001833756-26-000025.md) | [237](/filings/0001833756-26-000040.md) |
| Research and development | $m | not reported | not reported | [20.0](/filings/0001628280-25-021521.md) | [21.0](/filings/0001628280-25-036706.md) | [23.0](/filings/0001833756-25-000010.md) | [28.0 d](/filings/0001833756-26-000013.md) | [28.0](/filings/0001833756-26-000025.md) | [30.0](/filings/0001833756-26-000040.md) | [36.0](/filings/0001833756-25-000010.md) | [35.0 d](/filings/0001833756-26-000013.md) | [31.0](/filings/0001833756-26-000025.md) | [36.0](/filings/0001833756-26-000040.md) |
| Operating income | $m | [59.0](/filings/0001628280-24-044314.md) | [105 d](/filings/0001833756-26-000013.md) | [43.0](/filings/0001628280-25-021521.md) | [55.0](/filings/0001628280-25-036706.md) | [75.0](/filings/0001833756-25-000010.md) | [120 d](/filings/0001833756-26-000013.md) | [59.0](/filings/0001833756-26-000025.md) | [70.0](/filings/0001833756-26-000040.md) | [93.0](/filings/0001833756-25-000010.md) | [126 d](/filings/0001833756-26-000013.md) | [77.0](/filings/0001833756-26-000025.md) | [102](/filings/0001833756-26-000040.md) |
| Interest expense | $m | [10.0](/filings/0001628280-23-036429.md) | [9.0 d](/filings/0001628280-24-007359.md) | [5.0](/filings/0001628280-24-019617.md) | [7.0](/filings/0001628280-24-033473.md) | [5.0](/filings/0001628280-24-044314.md) | [4.0 d](/filings/0001628280-25-009248.md) | [1.0](/filings/0001628280-25-021521.md) | not reported | not reported | not reported | not reported | not reported |
| Income tax | $m | [1.0](/filings/0001628280-24-044314.md) | [21.0 d](/filings/0001833756-26-000013.md) | [8.0](/filings/0001628280-25-021521.md) | [9.0](/filings/0001628280-25-036706.md) | [12.0](/filings/0001833756-25-000010.md) | [22.0 d](/filings/0001833756-26-000013.md) | [8.0](/filings/0001833756-26-000025.md) | [13.0](/filings/0001833756-26-000040.md) | [15.0](/filings/0001833756-25-000010.md) | [22.0 d](/filings/0001833756-26-000013.md) | [15.0](/filings/0001833756-26-000025.md) | [14.0](/filings/0001833756-26-000040.md) |
| Net income | $m | [47.0](/filings/0001628280-24-044314.md) | [74.0 d](/filings/0001833756-26-000013.md) | [29.0](/filings/0001628280-25-021521.md) | [38.0](/filings/0001628280-25-036706.md) | [57.0](/filings/0001833756-25-000010.md) | [89.0 d](/filings/0001833756-26-000013.md) | [50.0](/filings/0001833756-26-000025.md) | [54.0](/filings/0001833756-26-000040.md) | [72.0](/filings/0001833756-25-000010.md) | [102 d](/filings/0001833756-26-000013.md) | [62.0](/filings/0001833756-26-000025.md) | [86.0](/filings/0001833756-26-000040.md) |
| Diluted EPS | $ per share | [0.18](/filings/0001628280-24-044314.md) | not reported | [0.11](/filings/0001628280-25-021521.md) | [0.14](/filings/0001628280-25-036706.md) | [0.21](/filings/0001833756-25-000010.md) | not reported | [0.19](/filings/0001833756-26-000025.md) | [0.20](/filings/0001833756-26-000040.md) | [0.26](/filings/0001833756-25-000010.md) | not reported | [0.23](/filings/0001833756-26-000025.md) | [0.32](/filings/0001833756-26-000040.md) |
| Basic EPS | $ per share | [0.18](/filings/0001628280-24-044314.md) | not reported | [0.11](/filings/0001628280-25-021521.md) | [0.14](/filings/0001628280-25-036706.md) | [0.22](/filings/0001833756-25-000010.md) | not reported | [0.19](/filings/0001833756-26-000025.md) | [0.20](/filings/0001833756-26-000040.md) | [0.27](/filings/0001833756-25-000010.md) | not reported | [0.23](/filings/0001833756-26-000025.md) | [0.33](/filings/0001833756-26-000040.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
- Cost of revenue: us-gaap:CostOfRevenue
- Gross profit: us-gaap:GrossProfit
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpense, us-gaap:InterestExpenseNonoperating
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [47.0](/filings/0001628280-23-036429.md) | [467](/filings/0001628280-25-009248.md) | [160](/filings/0001628280-24-019617.md) | [149](/filings/0001628280-24-033473.md) | [198](/filings/0001628280-24-044314.md) | [598](/filings/0001833756-26-000013.md) | [380](/filings/0001628280-25-021521.md) | [278](/filings/0001628280-25-036706.md) | [309](/filings/0001833756-25-000010.md) | [647](/filings/0001833756-26-000040.md) | [328](/filings/0001833756-26-000025.md) | [270](/filings/0001833756-26-000040.md) |
| Current assets | $m | [1,740](/filings/0001628280-23-036429.md) | [1,918](/filings/0001628280-25-009248.md) | [1,772](/filings/0001628280-24-019617.md) | [1,805](/filings/0001628280-24-033473.md) | [1,860](/filings/0001628280-24-044314.md) | [2,163](/filings/0001833756-26-000013.md) | [2,070](/filings/0001628280-25-021521.md) | [2,025](/filings/0001628280-25-036706.md) | [2,166](/filings/0001833756-25-000010.md) | [2,326](/filings/0001833756-26-000040.md) | [2,056](/filings/0001833756-26-000025.md) | [2,040](/filings/0001833756-26-000040.md) |
| Total assets | $m | [3,713](/filings/0001628280-23-036429.md) | [3,921](/filings/0001628280-25-009248.md) | [3,781](/filings/0001628280-24-019617.md) | [3,819](/filings/0001628280-24-033473.md) | [3,861](/filings/0001628280-24-044314.md) | [4,184](/filings/0001833756-26-000013.md) | [4,096](/filings/0001628280-25-021521.md) | [4,079](/filings/0001628280-25-036706.md) | [4,245](/filings/0001833756-25-000010.md) | [4,486](/filings/0001833756-26-000040.md) | [4,211](/filings/0001833756-26-000025.md) | [4,197](/filings/0001833756-26-000040.md) |
| Current liabilities | $m | [951](/filings/0001628280-23-036429.md) | [1,078](/filings/0001628280-25-009248.md) | [902](/filings/0001628280-24-019617.md) | [896](/filings/0001628280-24-033473.md) | [880](/filings/0001628280-24-044314.md) | [1,116](/filings/0001833756-26-000013.md) | [1,027](/filings/0001628280-25-021521.md) | [958](/filings/0001628280-25-036706.md) | [1,082](/filings/0001833756-25-000010.md) | [1,231](/filings/0001833756-26-000040.md) | [1,105](/filings/0001833756-26-000025.md) | [1,065](/filings/0001833756-26-000040.md) |
| Long-term debt | $m | not reported | [407](/filings/0001628280-24-007359.md) | not reported | not reported | not reported | [366](/filings/0001628280-25-009248.md) | not reported | not reported | not reported | [348](/filings/0001833756-26-000013.md) | not reported | not reported |
| Current portion of debt | $m | [132](/filings/0001628280-23-036429.md) | [57.0](/filings/0001628280-25-009248.md) | [30.0](/filings/0001628280-24-019617.md) | [22.0](/filings/0001628280-24-033473.md) | [22.0](/filings/0001628280-24-044314.md) | [25.0](/filings/0001833756-26-000013.md) | [27.0](/filings/0001628280-25-021521.md) | [22.0](/filings/0001628280-25-036706.md) | [24.0](/filings/0001833756-25-000010.md) | [26.0](/filings/0001833756-26-000040.md) | [11.0](/filings/0001833756-26-000025.md) | [10.0](/filings/0001833756-26-000040.md) |
| Short-term borrowings | $m | [1.0](/filings/0001628280-23-036429.md) | [35.0](/filings/0001628280-25-009248.md) | [9.0](/filings/0001628280-24-019617.md) | [1.0](/filings/0001628280-24-033473.md) | [1.0](/filings/0001628280-24-044314.md) | [4.0](/filings/0001833756-26-000013.md) | [5.0](/filings/0001628280-25-021521.md) | [1.0](/filings/0001628280-25-036706.md) | [3.0](/filings/0001833756-25-000010.md) | [5.0](/filings/0001833756-26-000040.md) | [1.0](/filings/0001833756-26-000025.md) | [0.0](/filings/0001833756-26-000040.md) |
| Shareholders' equity | $m | [2,242](/filings/0001628280-24-044314.md) | [2,325](/filings/0001833756-26-000013.md) | [2,355](/filings/0001628280-25-036706.md) | [2,406](/filings/0001833756-25-000010.md) | [2,474](/filings/0001833756-25-000010.md) | [2,557](/filings/0001833756-26-000040.md) | [2,571](/filings/0001833756-26-000040.md) | [2,600](/filings/0001833756-26-000040.md) | [2,648](/filings/0001833756-25-000010.md) | [2,730](/filings/0001833756-26-000040.md) | [2,770](/filings/0001833756-26-000040.md) | [2,803](/filings/0001833756-26-000040.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Long-term debt: us-gaap:LongTermDebt
- Current portion of debt: us-gaap:DebtCurrent
- Short-term borrowings: us-gaap:ShortTermBorrowings
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [36.0 d](/filings/0001628280-24-044314.md) | [515 d](/filings/0001833756-26-000013.md) | [(265)](/filings/0001628280-25-021521.md) | [34.0 d](/filings/0001628280-25-036706.md) | [59.0 d](/filings/0001833756-25-000010.md) | [443 d](/filings/0001833756-26-000013.md) | [(138)](/filings/0001833756-26-000025.md) | [(28.0) d](/filings/0001833756-26-000040.md) | [107 d](/filings/0001833756-25-000010.md) | [425 d](/filings/0001833756-26-000013.md) | [(66.0)](/filings/0001833756-26-000025.md) | [35.0 d](/filings/0001833756-26-000040.md) |
| Capital expenditure | $m | [15.0 d](/filings/0001628280-24-044314.md) | [18.0 d](/filings/0001833756-26-000013.md) | [10.0](/filings/0001628280-25-021521.md) | [34.0 d](/filings/0001628280-25-036706.md) | [12.0 d](/filings/0001833756-25-000010.md) | [29.0 d](/filings/0001833756-26-000013.md) | [32.0](/filings/0001833756-26-000025.md) | [28.0 d](/filings/0001833756-26-000040.md) | [30.0 d](/filings/0001833756-25-000010.md) | [49.0 d](/filings/0001833756-26-000013.md) | [30.0](/filings/0001833756-26-000025.md) | [29.0 d](/filings/0001833756-26-000040.md) |
| Dividends paid | $m | not reported | [0.0 d](/filings/0001628280-25-009248.md) | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Share repurchases | $m | not reported | not reported | [0.0](/filings/0001628280-25-021521.md) | [0.0 d](/filings/0001628280-25-036706.md) | [0.0 d](/filings/0001833756-25-000010.md) | [0.0 d](/filings/0001833756-26-000013.md) | [3.0](/filings/0001833756-26-000025.md) | [11.0 d](/filings/0001833756-26-000040.md) | [10.0 d](/filings/0001833756-25-000010.md) | [11.0 d](/filings/0001833756-26-000013.md) | [4.0](/filings/0001833756-26-000025.md) | [12.0 d](/filings/0001833756-26-000040.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
- Dividends paid: us-gaap:PaymentsOfDividends
- Share repurchases: us-gaap:PaymentsForRepurchaseOfCommonStock

## Shares

| Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [210](/filings/0001628280-23-036429.md) | [262](/filings/0001628280-24-019617.md) | [264](/filings/0001628280-24-033473.md) | [265](/filings/0001628280-24-044314.md) | [266](/filings/0001628280-25-021521.md) | [268](/filings/0001628280-25-036706.md) | [268](/filings/0001833756-25-000010.md) | [269](/filings/0001833756-26-000025.md) | [269](/filings/0001833756-26-000040.md) | [268](/filings/0001833756-25-000010.md) | [269](/filings/0001833756-26-000025.md) | [269](/filings/0001833756-26-000040.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 266,891,515 at 2026-07-29, from the cover of the [10-Q filed 2026-07-30](/filings/0001833756-26-000040.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:49 ET. No prices; not investment advice.