Leonardo DRS, Inc.

DRS · Healthcare · $11.8B mkt cap · FY2025 filings · Shallow moat

Doesn't clear the bar

Shallow moat

The four filters

Pricing power28

Median gross margin 21.4% over 7y, stable.

Returns on capital48

Median ROIC 10.4%, above the 9% hurdle in 71% of years.

Balance-sheet safety100

Net cash position — no leverage risk.

Capital discipline80

Owner earnings +24.4%/yr, share count n/a.

Margin of safety

Above valueOn sale

198% above value

Owner earnings (normalized): $219.0M
Est. intrinsic value / share: $14.83
Recent price: $44.24
Discount to value: 198% above value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell DRS. See the disclaimer.