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Coda Octopus vs Leonardo DRS: revenue, profit, margins and growth compared

Coda Octopus brought in $26.6M of revenue in fiscal 2025, Leonardo DRS $3.6B in fiscal 2025. Revenue changed by +30.7% at Coda Octopus and +12.8% at Leonardo DRS on the year before, so Coda Octopus grew faster. Coda Octopus kept 15.5% of its revenue as net profit, Leonardo DRS 7.6%. Free cash flow was $6M at Coda Octopus and $227M at Leonardo DRS.

Side by side, latest fiscal year

CODADRS
Fiscal year endedFY2025 (October 31, 2025)FY2025 (December 31, 2025)
Revenue$26.6M$3.6B
Revenue growth+30.7%+12.8%
Net income$4.1M$278M
Net margin15.5%7.6%
Free cash flow$6M$227M
Free cash flow margin22.7%6.2%
Earnings per share (diluted)$0.37$1.03
Cash$28.7M$647M
Debtn/a$348M
Price to earnings29.136.1
Market value$121.6M$9.9B
Dividend yieldn/a0.97%
Rank by revenue in sector#421 of 451 · Industrials#155 of 451 · Industrials

Over the years

Revenue
CODA FY2018: $18MCODA FY2019: $25.1MCODA FY2020: $20MCODA FY2021: $21.3MCODA FY2022: $22.2MCODA FY2023: $19.4MCODA FY2024: $20.3MCODA FY2025: $26.6MDRS FY2019: $2.7BDRS FY2021: $2.8BDRS FY2021: $2.9BDRS FY2022: $2.7BDRS FY2023: $2.8BDRS FY2024: $3.2BDRS FY2025: $3.6BFY18FY19FY20FY21FY22FY23FY24FY25
CODA $26.6MDRS $3.6B
Net income
CODA FY2018: $5MCODA FY2019: $5.2MCODA FY2020: $3.3MCODA FY2021: $4.9MCODA FY2022: $4.3MCODA FY2023: $3.1MCODA FY2024: $3.6MCODA FY2025: $4.1MDRS FY2019: $75MDRS FY2021: $85MDRS FY2021: $154MDRS FY2022: $405MDRS FY2023: $168MDRS FY2024: $213MDRS FY2025: $278MFY18FY19FY20FY21FY22FY23FY24FY25
CODA $4.1MDRS $278M
Net margin
CODA FY2018: 27.7%CODA FY2019: 20.9%CODA FY2020: 16.7%CODA FY2021: 23.2%CODA FY2022: 19.4%CODA FY2023: 16.1%CODA FY2024: 17.9%CODA FY2025: 15.5%DRS FY2019: 2.8%DRS FY2021: 3.1%DRS FY2021: 5.3%DRS FY2022: 15.0%DRS FY2023: 5.9%DRS FY2024: 6.6%DRS FY2025: 7.6%FY18FY19FY20FY21FY22FY23FY24FY25
CODA 15.5%DRS 7.6%
Revenue growth
CODA FY2019: +39.1%CODA FY2020: -20.0%CODA FY2021: +6.4%CODA FY2022: +4.2%CODA FY2023: -12.9%CODA FY2024: +5.0%CODA FY2025: +30.7%DRS FY2021: +2.4%DRS FY2021: +3.6%DRS FY2022: -6.5%DRS FY2023: +4.9%DRS FY2024: +14.4%DRS FY2025: +12.8%FY19FY20FY21FY22FY23FY24FY25
CODA +30.7%DRS +12.8%
Free cash flow
CODA FY2018: $1.9MCODA FY2019: $4.1MCODA FY2020: $3.6MCODA FY2021: $2.4MCODA FY2022: $6.3MCODA FY2023: $367.9KCODA FY2024: $1.9MCODA FY2025: $6MDRS FY2019: $102MDRS FY2021: $69MDRS FY2021: $118MDRS FY2022: -$32MDRS FY2023: $145MDRS FY2024: $186MDRS FY2025: $227MFY18FY19FY20FY21FY22FY23FY24FY25
CODA $6MDRS $227M

Fiscal years as each company reports them; the two may end in different months.

Questions about Coda Octopus and Leonardo DRS

Which is bigger by revenue, Coda Octopus or Leonardo DRS?

Leonardo DRS is bigger by revenue: $3.6B in fiscal 2025, against $26.6M for Coda Octopus in fiscal 2025.

Which keeps more of its revenue as profit, Coda Octopus or Leonardo DRS?

Coda Octopus had a net margin of 15.5% in fiscal 2025; Leonardo DRS had 7.6% in fiscal 2025.

Which grew revenue faster, Coda Octopus or Leonardo DRS?

In their latest fiscal years revenue changed by +30.7% at Coda Octopus and +12.8% at Leonardo DRS.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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