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Leonardo DRS vs Mind Technology: revenue, profit, margins and growth compared

Leonardo DRS brought in $3.6B of revenue in fiscal 2025, Mind Technology $40.9M in fiscal 2026. Revenue changed by +12.8% at Leonardo DRS and -12.6% at Mind Technology on the year before, so Leonardo DRS grew faster. Leonardo DRS kept 7.6% of its revenue as net profit, Mind Technology 1.8%. Free cash flow was $227M at Leonardo DRS and $1.9M at Mind Technology.

Side by side, latest fiscal year

DRSMIND
Fiscal year endedFY2025 (December 31, 2025)FY2026 (January 31, 2026)
Revenue$3.6B$40.9M
Revenue growth+12.8%-12.6%
Net income$278M$750K
Net margin7.6%1.8%
Free cash flow$227M$1.9M
Free cash flow margin6.2%4.7%
Earnings per share (diluted)$1.03$0.09
Cash$647M$19.1M
Debt$348Mn/a
Price to earnings36.148.3
Market value$9.9B$39.5M
Dividend yield0.97%n/a
Rank by revenue in sector#155 of 451 · Industrials#409 of 451 · Industrials

Over the years

Revenue
DRS FY2019: $2.7BDRS FY2021: $2.8BDRS FY2021: $2.9BDRS FY2022: $2.7BDRS FY2023: $2.8BDRS FY2024: $3.2BDRS FY2025: $3.6BMIND FY2019: $42.9MMIND FY2020: $42.7MMIND FY2021: $21.2MMIND FY2022: $23.1MMIND FY2023: $25MMIND FY2024: $36.5MMIND FY2025: $46.9MMIND FY2026: $40.9MFY19FY20FY21FY22FY23FY24FY25FY26
DRS $3.6BMIND $40.9M
Net income
DRS FY2019: $75MDRS FY2021: $85MDRS FY2021: $154MDRS FY2022: $405MDRS FY2023: $168MDRS FY2024: $213MDRS FY2025: $278MMIND FY2019: -$19.8MMIND FY2020: -$11.3MMIND FY2021: -$20.3MMIND FY2022: -$15.1MMIND FY2023: -$8.8MMIND FY2024: $274KMIND FY2025: $5.1MMIND FY2026: $750KFY19FY20FY21FY22FY23FY24FY25FY26
DRS $278MMIND $750K
Net margin
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%MIND FY2019: -46.2%MIND FY2020: -26.4%MIND FY2021: -95.7%MIND FY2022: -65.3%MIND FY2023: -35.3%MIND FY2024: 0.8%MIND FY2025: 10.8%MIND FY2026: 1.8%FY19FY20FY21FY22FY23FY24FY25FY26
DRS 7.6%MIND 1.8%
Revenue growth
DRS FY2021: +2.4%DRS FY2021: +3.6%DRS FY2022: -6.5%DRS FY2023: +4.9%DRS FY2024: +14.4%DRS FY2025: +12.8%MIND FY2020: -0.6%MIND FY2021: -50.3%MIND FY2022: +8.9%MIND FY2023: +8.2%MIND FY2024: +46.0%MIND FY2025: +28.4%MIND FY2026: -12.6%FY20FY21FY22FY23FY24FY25FY26
DRS +12.8%MIND -12.6%
Free cash flow
DRS FY2019: $102MDRS FY2021: $69MDRS FY2021: $118MDRS FY2022: -$32MDRS FY2023: $145MDRS FY2024: $186MDRS FY2025: $227MMIND FY2019: -$6.3MMIND FY2020: -$6.9MMIND FY2021: -$6.5MMIND FY2022: -$18MMIND FY2023: -$3.5MMIND FY2024: -$5.3MMIND FY2025: $214KMIND FY2026: $1.9MFY19FY20FY21FY22FY23FY24FY25FY26
DRS $227MMIND $1.9M

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

Questions about Leonardo DRS and Mind Technology

Which is bigger by revenue, Leonardo DRS or Mind Technology?

Leonardo DRS is bigger by revenue: $3.6B in fiscal 2025, against $40.9M for Mind Technology in fiscal 2026.

Which keeps more of its revenue as profit, Leonardo DRS or Mind Technology?

Leonardo DRS had a net margin of 7.6% in fiscal 2025; Mind Technology had 1.8% in fiscal 2026.

Which grew revenue faster, Leonardo DRS or Mind Technology?

In their latest fiscal years revenue changed by +12.8% at Leonardo DRS and -12.6% at Mind Technology.

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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