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Leonardo DRS vs Nextnav: revenue, profit, margins and growth compared

Leonardo DRS brought in $3.6B of revenue in fiscal 2025, Nextnav $4.6M in fiscal 2025. Revenue changed by +12.8% at Leonardo DRS and -19.3% at Nextnav on the year before, so Leonardo DRS grew faster. Leonardo DRS kept 7.6% of its revenue as net profit, Nextnav -4,138.5%. Free cash flow was $227M at Leonardo DRS and -$50.8M at Nextnav.

Side by side, latest fiscal year

DRSNN
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$3.6B$4.6M
Revenue growth+12.8%-19.3%
Net income$278M-$189.3M
Net margin7.6%-4,138.5%
Free cash flow$227M-$50.8M
Free cash flow margin6.2%-1,110.8%
Earnings per share (diluted)$1.03-$1.42
Cash$647M$44.8M
Debt$348M$273.6M
Price to earnings35.6n/a
Market value$9.8B$2.4B
Dividend yield0.98%n/a
Rank by revenue in sector#164 of 587 · Industrials#527 of 587 · 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: $3.6BNN FY2021: $569KNN FY2021: $763KNN FY2022: $3.9MNN FY2023: $3.9MNN FY2024: $5.7MNN FY2025: $4.6MFY19FY21FY22FY23FY24FY25
DRS $3.6BNN $4.6M
Net income
DRS FY2019: $75MDRS FY2021: $85MDRS FY2021: $154MDRS FY2022: $405MDRS FY2023: $168MDRS FY2024: $213MDRS FY2025: $278MNN FY2021: -$137.3MNN FY2021: -$144.7MNN FY2022: -$40.1MNN FY2023: -$71.7MNN FY2024: -$101.9MNN FY2025: -$189.3MFY19FY21FY22FY23FY24FY25
DRS $278MNN -$189.3M
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%NN FY2021: -24,136.4%NN FY2021: -18,960.2%NN FY2022: -1,021.8%NN FY2023: -1,857.5%NN FY2024: -1,797.1%NN FY2025: -4,138.5%FY19FY21FY22FY23FY24FY25
DRS 7.6%NN -4,138.5%
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%NN FY2021: +34.1%NN FY2022: +414.5%NN FY2023: -1.6%NN FY2024: +46.8%NN FY2025: -19.3%FY21FY22FY23FY24FY25
DRS +12.8%NN -19.3%
Free cash flow
DRS FY2019: $102MDRS FY2021: $69MDRS FY2021: $118MDRS FY2022: -$32MDRS FY2023: $145MDRS FY2024: $186MDRS FY2025: $227MNN FY2021: -$34.8MNN FY2021: -$49MNN FY2022: -$40.1MNN FY2023: -$38.2MNN FY2024: -$38.4MNN FY2025: -$50.8MFY19FY21FY22FY23FY24FY25
DRS $227MNN -$50.8M

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

Questions about Leonardo DRS and Nextnav

Which is bigger by revenue, Leonardo DRS or Nextnav?

Leonardo DRS is bigger by revenue: $3.6B in fiscal 2025, against $4.6M for Nextnav in fiscal 2025.

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

Leonardo DRS had a net margin of 7.6% in fiscal 2025; Nextnav had -4,138.5% in fiscal 2025.

Which grew revenue faster, Leonardo DRS or Nextnav?

In their latest fiscal years revenue changed by +12.8% at Leonardo DRS and -19.3% at Nextnav.

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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