Leonardo DRS, Inc. (DRS)
NASDAQ: DRS · Real-Time Price · USD
35.50
-0.49 (-1.36%)
At close: Oct 28, 2026, 4:00 PM EDT
36.77
+1.27 (3.58%)
After-hours: Oct 28, 2026, 7:41 PM EDT
Leonardo DRS Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Net Income | 86 | 62 | 102 | 72 | 54 | 50 | 89 | 57 | 38 | 29 | 74 | 47 | 35 | 12 | 65 | 279 | 25 | 36 | 58 | 35 |
Depreciation & Amortization | 26 | 24 | 24 | 23 | 23 | 23 | 23 | 23 | 23 | 22 | 22 | 21 | 20 | 22 | 17 | 17 | 16 | 15 | 14 | 16 |
Loss (Gain) From Sale of Assets | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -4 | -350 | - | - | - | - |
Stock-Based Compensation | 7 | 4 | 13 | 5 | 6 | 8 | 6 | 5 | 10 | 1 | 5 | 4 | 4 | 4 | 5 | - | - | - | - | - |
Other Operating Activities | - | - | 28 | -1 | - | 1 | 22 | - | 2 | - | -39 | -18 | 6 | - | -16 | -4 | 3 | 11 | -1 | 10 |
Change in Accounts Receivable | -23 | -34 | 116 | -100 | -45 | -111 | 109 | -9 | -25 | -141 | 202 | -45 | -90 | -88 | 56 | -84 | -40 | -67 | -15 | -25 |
Change in Inventory | -12 | -19 | 52 | -4 | -15 | -27 | 5 | 4 | -25 | -13 | 54 | -5 | -14 | -45 | 10 | 4 | -17 | -30 | 10 | 42 |
Change in Accounts Payable | -7 | -152 | 1 | 76 | -30 | -126 | 121 | 29 | 43 | -178 | 70 | 38 | 32 | -199 | 166 | -15 | 50 | -215 | 194 | -21 |
Change in Unearned Revenue | -42 | 55 | 145 | 4 | -31 | 68 | 84 | -33 | -13 | 26 | 77 | -34 | 45 | 14 | 36 | 48 | -24 | 12 | 14 | 13 |
Change in Other Net Operating Assets | - | -6 | -56 | 32 | 10 | -24 | -16 | -17 | -19 | -11 | 50 | 28 | -50 | -54 | -56 | 101 | - | -17 | 15 | 4 |
Operating Cash Flow | 35 | -66 | 425 | 107 | -28 | -138 | 443 | 59 | 34 | -265 | 515 | 36 | -12 | -334 | 279 | -4 | 13 | -255 | 289 | 74 |
Operating Cash Flow Growth (YoY) | - | - | -4.06% | 81.36% | - | - | -13.98% | 63.89% | - | - | 84.59% | - | - | - | -3.46% | - | -79.69% | - | -18.59% | - |
Investing Activities
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Capital Expenditures | -29 | -30 | -49 | -30 | -28 | -32 | -29 | -12 | -34 | -10 | -18 | -15 | -12 | -15 | -30 | -13 | -9 | -13 | -18 | -13 |
Sale of Property, Plant & Equipment | - | 1 | - | - | - | - | - | 1 | - | - | 1 | -1 | - | 1 | - | - | - | - | - | - |
Cash Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 19 | - | - | - | - | -14 |
Divestitures | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -1 | 483 | - | - | - | - |
Investment in Securities | - | - | - | -15 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -1 | 1 |
Investing Cash Flow | -29 | -29 | -49 | -45 | -28 | -32 | -29 | -11 | -34 | -10 | -17 | -16 | -12 | -14 | -12 | 470 | -9 | -13 | -19 | -26 |
Financing Activities
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Short-Term Debt Issued | - | - | - | - | - | 2 | - | - | - | - | - | - | - | 6 | - | - | - | 285 | - | - |
Long-Term Debt Issued | - | - | - | - | - | - | - | - | - | 35 | - | - | - | 340 | - | - | - | - | - | - |
Total Debt Issued | - | - | 1 | - | -2 | 2 | 50 | 95 | 100 | 35 | 180 | 160 | 49 | 346 | 323 | 230 | 160 | 285 | 130 | 175 |
Short-Term Debt Repaid | - | -4 | - | - | - | - | - | - | - | -26 | - | - | - | - | - | - | - | -144 | - | - |
Long-Term Debt Repaid | - | -191 | - | - | - | -3 | - | - | - | -38 | - | - | - | -128 | - | - | - | - | - | - |
Total Debt Repaid | -1 | -195 | -1 | -1 | -6 | -3 | -50 | -97 | -112 | -64 | -262 | -170 | -167 | -128 | -348 | -300 | -208 | -144 | -239 | -238 |
Net Debt Issued (Repaid) | -1 | -195 | - | -1 | -8 | -1 | - | -2 | -12 | -29 | -82 | -10 | -118 | 218 | -25 | -70 | -48 | 141 | -109 | -63 |
Issuance of Common Stock | 2 | 3 | - | 6 | 3 | - | 3 | 6 | 5 | 2 | 4 | 2 | 5 | 1 | - | - | - | - | - | - |
Repurchase of Common Stock | -37 | -4 | -11 | -10 | -15 | -20 | -15 | - | -2 | -2 | - | - | - | -1 | - | - | - | - | - | - |
Common Dividends Paid | -24 | -24 | -24 | -24 | -24 | -24 | - | - | - | - | - | - | - | - | - | -396 | - | - | - | - |
Other Financing Activities | -4 | -4 | -3 | -2 | -2 | -3 | -2 | -3 | -2 | -3 | - | - | -2 | -2 | 397 | -6 | - | - | 1 | 1 |
Financing Cash Flow | -64 | -224 | -38 | -31 | -46 | -48 | -14 | 1 | -11 | -32 | -78 | -8 | -115 | 216 | -24 | -472 | -48 | 141 | -108 | -62 |
Net Cash Flow
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Foreign Exchange Rate Adjustments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1 |
Net Cash Flow | -58 | -319 | 338 | 31 | -102 | -218 | 400 | 49 | -11 | -307 | 420 | 12 | -139 | -132 | 243 | -6 | -44 | -127 | 162 | -13 |
Free Cash Flow
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Free Cash Flow | 6 | -96 | 376 | 77 | -56 | -170 | 414 | 47 | - | -275 | 497 | 21 | -24 | -349 | 249 | -17 | 4 | -268 | 271 | 61 |
Free Cash Flow Growth (YoY) | - | - | -9.18% | 63.83% | - | - | -16.70% | 123.81% | - | - | 99.60% | - | - | - | -8.12% | - | -91.67% | - | -19.35% | - |
Free Cash Flow Margin | 0.66% | -11.35% | 35.47% | 8.02% | -6.75% | -21.28% | 42.20% | 5.79% | - | -39.97% | 53.67% | 2.99% | -3.82% | -61.34% | 30.37% | -2.68% | 0.64% | -43.79% | 33.05% | 8.47% |
Free Cash Flow Per Share | 0.02 | -0.36 | 1.40 | 0.29 | -0.21 | -0.63 | 1.54 | 0.17 | - | -1.03 | 1.87 | 0.08 | -0.09 | -1.33 | 1.09 | -0.08 | 0.02 | -1.28 | 1.30 | 0.29 |
Levered Free Cash Flow | -21.25 | -114.88 | 391.75 | 60.25 | -83.5 | -180.75 | 404.38 | 31.75 | -24.38 | -271.75 | 513.63 | 19.88 | -49.38 | -361.38 | -42.38 | 404.38 | 1 | -436 | 286.13 | 51.5 |
Unlevered Free Cash Flow | -21.25 | -114.88 | 392.38 | 62.75 | -82.25 | -180.13 | 406.88 | 34.88 | -20 | -268.63 | 519.25 | 26.13 | -43.75 | -356.38 | -38 | 410 | 7.25 | -431 | 291.13 | 57.13 |
Additional Metrics
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Cash Interest Paid | - | - | 21 | - | - | - | 27 | - | - | - | 38 | - | - | - | 34 | - | - | - | 35 | - |
Change in Working Capital | -84 | -156 | 258 | 8 | -111 | -220 | 303 | -26 | -39 | -317 | 453 | -18 | -77 | -372 | 212 | 54 | -31 | -317 | 218 | 13 |