Leonardo Drs Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Leonardo Drs Inc (DRS) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Leonardo Drs Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 3,885M vs 402,706M combined for its competitors (1.0% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+9.8% annualized vs trailing 12 months), vs accelerating (+3.1%) for its tracked peer group.
- Growth: Leonardo Drs Inc generated 11.0% revenue growth year over year in Q3 2026, vs 8.9% for its competitors combined.
- Profitability: Its 10.8% net margin compares with 7.0% for the peer group.
- Scale: Leonardo Drs Inc ranks #15 of 56 companies by market capitalization in the Aerospace & Defense industry, holding 1.2% of industry market cap.
- Peer revenue share: Leonardo Drs Inc accounted for 1.0% of combined revenue among its tracked peer group, up from 1.0% a year earlier.
- Peer differentiation: Revenue per employee of $0.53M compares with $0.58M for the peer group (0.9x).
- Structure: Leonardo Drs Inc operates in the following segments: Advanced Sensing and Computing, Integrated Mission Systems.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
DRS Sales vs. its Competitors, Q3 2026
Leonardo Drs Inc reported revenue growth of 11.04 % year on year in Q3 2026, above its competitors' combined revenue growth of 8.86 %.
With a net margin of 10.79 %, Leonardo Drs Inc achieved higher profitability than its competitors (6.99 %).
Leonardo Drs Inc generated 1.02 % of the combined sales of its peer group, up from 1.00 % a year earlier.
API endpoints for this dataset
Leonardo Drs Inc vs. its Competitors, Q3 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Leonardo Drs Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Leonardo Drs Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Leonardo Drs Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (1) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (9) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Leonardo Drs Inc's competitor groups requires a Commercial License.
For context: the Aerospace & Defense industry grew revenue 12.6% year over year, combined, vs 11.0% for Leonardo Drs Inc. Leonardo Drs Inc's share of combined industry revenue moved from 0.85% to 0.84%, a loss of 0.01 percentage points.
Leonardo Drs Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Leonardo Drs Inc | Yes | Yes | No | No |
| Competitors combined (15) | ||||
| High-Confidence Competitors (7) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 0.00 % (0 of 8) | 12.50 % (1 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
DRS Stock Performance relative to its Competitors
DRS Stock Performance relative to High-Confidence Competitors
DRS Stock Performance relative to Similar-Size Competitors
DRS Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Viasat Inc | 282.9% | Outperformed |
| 2 | Elbit Systems Ltd | 282.9% | Outperformed |
| 3 | Lockheed Martin Corporation | 282.9% | Outperformed |
| 4 | Rtx Corporation | 282.9% | Outperformed |
| 5 | Textron Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Leonardo Drs Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Leonardo Drs Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Leonardo Drs Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Leonardo Drs Inc |
9,132.93 | 3,885.00 |
 Rtx Corporation |
259,295.99 | 95,987.00 |
 The Boeing Company |
137,454.18 | 94,913.00 |
 Lockheed Martin Corporation |
131,279.02 | 79,116.00 |
 General Dynamics Corporation |
96,933.84 | 56,520.00 |
 Northrop Grumman Corp |
74,761.42 | 43,591.00 |
| SUBTOTAL | 793,401.13 | 435,297.68 |
Sign in to see all competitors of Leonardo Drs Inc .
Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Leonardo Drs Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Leonardo Drs Inc's Competitors Named by the Company
Competitive relationships identified from Leonardo Drs Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Applied Energetics Inc | Company report | 85% |
| Vertical Aerospace ltd | Company report | 85% |
| Teledyne/FLIR | Company report | 85% |
| L3Harris | Company report | 85% |
| Cubic | Company report | 85% |
| Raytheon Technologies | Company report | 85% |
| Elbit Systems | Company report | 85% |
| Spirit Aerosystems Holdings inc | Company report | 85% |
| BAE Systems | Company report | 85% |
| Flir Systems Inc | Company report | 85% |
| Huntington Ingalls Industries Inc | Company report | 85% |
| General Dynamics Corporation | Company report | 85% |
| Northrop Grumman Corp | Company report | 85% |
| Viasat Inc | Company report | 85% |
| Textron Inc | Company report | 85% |
| Rtx Corporation | Company report | 85% |
| Lockheed Martin Corporation | Company report | 85% |
| Bk Technologies Corp | Company report | 85% |
| Duke Robotics Corp | Company report | 85% |
| Aerovironment Inc | Company report | 85% |
| Bwx Technologies Inc | Company report | 85% |
| The Boeing Company | Company report | 85% |
Company report basis, confidence, active dates and source counts for Leonardo Drs Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Leonardo Drs Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Leonardo Drs Inc | Advanced Sensing and Computing 61.82 % |
| Rtx Corporation | Pratt and Whitney 36.98 % |
| The Boeing Company | Commercial Airplanes 44.32 % |
| Lockheed Martin Corporation | Aeronautics 39.66 % |
| General Dynamics Corporation | Marine Systems 34.05 % |
| Northrop Grumman Corp | Aeronautics Systems 32.14 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Leonardo Drs Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Leonardo Drs Inc | 9,133 | 532,192 | 50,000 |
| Rtx Corporation | 259,296 | 533,261 | 48,344 |
| The Boeing Company | 137,454 | 521,500 | 42,137 |
| Lockheed Martin Corporation | 131,279 | 643,220 | 52,951 |
| General Dynamics Corporation | 96,934 | 483,077 | 39,803 |
| Northrop Grumman Corp | 74,761 | 5,812,133 | 602,667 |
| PEERS TOTAL | 784,268 | 583,501 | 29,651 |
Leonardo Drs Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Rtx Corporation | UNITED STATES 53.04 % |
| Lockheed Martin Corporation | United States 69.29 % |
| Northrop Grumman Corp | United States 86.67 % |
| Elbit Systems Ltd | Israel 32.20 % |
| Textron Inc | United States 70.17 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Leonardo Drs Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 49 companies in Leonardo Drs Inc's industry classification, broader than the peer set above. Market cap in millions of $.Leonardo Drs Inc ranks #15 of 49 companies by market capitalization in its industry, holding 1.18 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 944, indicating a unconcentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | The Boeing Company | 137,090 | 17.67 % |
| 2 | Lockheed Martin Corporation | 131,052 | 16.89 % |
| 3 | Northrop Grumman Corp | 74,761 | 9.64 % |
| 4 | Transdigm Group Incorporated | 68,708 | 8.86 % |
| 5 | Garmin Ltd | 1,234 | 5.2% |
| 6 | L3harris Technologies Inc | 1,234 | 5.2% |
| 7 | Rocket Lab Corp | 1,234 | 5.2% |
| 8 | Elbit Systems Ltd | 1,234 | 5.2% |
| 9 | Teledyne Technologies Inc | 1,234 | 5.2% |
| 10 | Axon Enterprise Inc | 1,234 | 5.2% |
| 15 | Leonardo Drs Inc | 9,153 | 1.18 % |
Market cap and industry share for the rest of Leonardo Drs Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Leonardo Drs Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 10 | Axon Enterprise Inc | 25,835 | -48.65 % |
| 11 | Arxis Inc | 20,051 | - |
| 12 | Nextpower Inc | 16,275 | -8.45 % |
| 13 | Textron Inc | 14,620 | 3.84 % |
| 14 | Embraer S a | 1,234 | 12.3% |
| 15 | Leonardo Drs Inc | 9,153 | -7.17 % |
| 16 | Loar Holdings Inc | 1,234 | 12.3% |
| 17 | Kratos Defense and Security Solutions inc | 1,234 | 12.3% |
| 18 | Beta Technologies Inc | 1,234 | 12.3% |
| 19 | Karman Holdings Inc | 1,234 | 12.3% |
| 20 | Joby Aviation Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Leonardo Drs Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Leonardo Drs Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Aerospace & Defense industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (63 companies). See the full Aerospace & Defense industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 25.25 % | 24.92 % (avg) | +0.3 pp |
| Operating Margin | 10.84 % | industry median | +0.1 pp |
| EBITDA Margin | 13.93 % | 1.57 % (avg) | +12.4 pp |
| Capital Intensity (Capex / Revenue) | 3.76 % | 6.71 % (avg) | -2.9 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Leonardo Drs Inc's Valuation vs Competitive Position
Valuation multiples vs the Aerospace & Defense industry average (63 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Aerospace & Defense industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 30.7x | 33.8x | -3.2x |
| EV / EBITDA | 20.5x | 19.8x | +0.7x |
| P/B | 4.0x | 5.4x | -1.4x |
| Return on Equity | 13.04 % | industry aggregate | -15.29 % |
| Return on Invested Capital | 7.09 % | -0.09 % (avg) | 7.18 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Leonardo Drs Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | - | 4.94 % | 14.44 % | 12.80 % |
| Operating Margin | 20.83 % | 8.17 % | 9.06 % | 9.54 % |
| Return on Invested Capital | 14.31 % | 4.76 % | 5.55 % | 6.16 % |
| P/E | - | 29.5x | 41.1x | 35.8x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Leonardo Drs Inc's Strategic Group Map
Leonardo Drs Inc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Leonardo Drs Inc's trailing-12-month revenue growth of 8.9% and operating margin of 10.8% compares with an average of 8.3% growth and 8.8% margin across its 8 closest peers by combined growth, margin and ROIC -- Leonardo Drs Inc sits above that peer average on growth and above it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Leonardo Drs Inc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Leonardo Drs Inc falls in the Question Mark quadrant: relative market share of 0.07x vs its largest competitor, in an industry growing revenue 13.6% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Leonardo Drs Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 944 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 3.76 % vs industry average 6.71 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Leonardo Drs Inc's dedicated Suppliers and Customers pages, not here.
Leonardo Drs Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Leonardo Drs Inc falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Leonardo Drs Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+9.8% annualized vs trailing 12 months).
Weaknesses
- Return on equity 15.3 points below the industry aggregate.
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.07x).
Opportunities
- Industry revenue growing at a healthy 13.6% median pace.
- Trades at a lower P/E than the industry average (30.7x vs 33.8x) despite a higher return on invested capital -- a possible re-rating opportunity.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Leonardo Drs Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Leonardo Drs Inc | 0.34 | 1.89 | 0.10 |
| Rtx Corporation | 0.13 | 1.03 | 0.82 |
| The Boeing Company | 0.08 | 1.16 | 8.36 |
| Lockheed Martin Corporation | 0.17 | 1.17 | 2.53 |
| General Dynamics Corporation | 0.20 | 1.42 | 0.29 |
| Northrop Grumman Corp | 0.23 | 1.16 | 0.85 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Leonardo Drs Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Leonardo Drs Inc | Q3 2026 | +11.0 % | +59.7 % |
| Rtx Corporation | Q3 2026 | +11.1 % | +28.8 % |
| The Boeing Company | Q3 2026 | +3.9 % | - |
| Lockheed Martin Corporation | Q3 2026 | +11.3 % | +14.0 % |
| General Dynamics Corporation | Q3 2026 | +12.9 % | +16.1 % |
| Northrop Grumman Corp | Q3 2026 | +6.7 % | +2.2 % |
| PEERS TOTAL | +9.1 % | - |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Leonardo Drs Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Leonardo Drs Inc | Q3 2026 | +8.8 % | +26.7 % |
| Rtx Corporation | Q3 2026 | +41.0 % | +11.8 % |
| The Boeing Company | Q3 2026 | -14.1 % | +16.6 % |
| Lockheed Martin Corporation | Q3 2026 | +11.6 % | +15.2 % |
| General Dynamics Corporation | Q3 2026 | +81.5 % | +126.9 % |
| Northrop Grumman Corp | Q3 2026 | +32.3 % | +1.7 % |
Leonardo Drs Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Leonardo Drs Inc | 8.45% | 11.63% | 13.04% |
| Rtx Corporation | 5.03% | 6.62% | 12.70% |
| The Boeing Company | 4.58% | 12.92% | 127.18% |
| Lockheed Martin Corporation | 10.59% | 14.93% | 78.85% |
| General Dynamics Corporation | 7.87% | 12.53% | 17.60% |
| Northrop Grumman Corp | 8.83% | 10.92% | 25.70% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Leonardo Drs Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Leonardo Drs Inc | 25.03 | 2.35 |
| Rtx Corporation | 31.07 | 2.70 |
| The Boeing Company | 18.01 | 1.45 |
| Lockheed Martin Corporation | 20.17 | 1.66 |
| General Dynamics Corporation | 20.79 | 1.72 |
| Northrop Grumman Corp | 16.60 | 1.72 |
| PEERS AVERAGE | 35.60 | 1.82 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.