AAR vs Leonardo DRS
Leonardo DRS reported revenue of $3.6 billion in fiscal 2025, about the same as AAR's $3.3 billion in fiscal 2026. AAR's revenue grew 19.0% in its latest year, and Leonardo DRS's grew 12.8%. Free cash flow was $62 million at AAR and $227 million at Leonardo DRS. Their fiscal years end in different months (May 31 and December 31), so the periods don't line up exactly.
Side by side
| AAR | Leonardo DRS | |
|---|---|---|
| Latest fiscal year | FY2026, May 31, 2026 | FY2025, Dec 31, 2025 |
| Revenue | $3.3B | $3.6B |
| Revenue growth | 19.0% | 12.8% |
| Revenue growth a year, last 5 years | 14.9% | 5.6% |
| Gross margin | 18.8% | 23.8% |
| Operating margin | — | 9.5% |
| Net margin | 5.7% | 7.6% |
| Free cash flow | $62M | $227M |
| Free cash flow margin | 1.9% | 6.2% |
| Return on capital | 10.6% | 11.6% |
| Net debt to EBITDA | 2.1x | −0.4x |
| Dividends and buybacks | $0M | $35M |
| Change in diluted share count | 7.3% | 0.4% |
| Last close | $109.21 | $34.04 |
| P/E at the last close | 22.4× | 25.0× |
| Insider trades, last 12 months | sold $23.9 million | bought $1.1 million, sold $9.7 million |
| Piotroski F-score | 6 of 9 | 7 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
AARLeonardo DRS
Operating margin
Percent of revenue
AARLeonardo DRS
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
AARLeonardo DRS
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the AAR and Leonardo DRS pages.