What is Leonardo DRS, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Leonardo DRS, Inc.'s reported free cash flow gives $17.97 per share. The share price was $37.16 on September 25, 2026, 107% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 2.0% | 10.0% | $11.22 | -70% |
| Base | 7.0% | 9.0% | $17.97 | -52% |
| Bull | 12.0% | 8.0% | $30.56 | -18% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $22.85 | $24.35 | $26.18 | $28.46 | $31.40 |
| 8.0% | $19.20 | $20.17 | $21.32 | $22.70 | $24.38 |
| 9.0% | $16.54 | $17.20 | $17.97 | $18.86 | $19.92 |
| 10.0% | $14.51 | $14.98 | $15.52 | $16.13 | $16.83 |
| 11.0% | $12.91 | $13.26 | $13.65 | $14.08 | $14.57 |
Where the presets come from
Base: years 1 to 5 grow at Leonardo DRS, Inc.'s revenue growth rate over the last 4 fiscal years (7.0% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions