BWX Technologies vs Leonardo DRS
Leonardo DRS reported revenue of $3.6 billion in fiscal 2025, about the same as BWX Technologies' $3.2 billion in fiscal 2025. BWX Technologies' revenue grew 18.3% in its latest year, and Leonardo DRS's grew 12.8%. BWX Technologies had an operating margin of 12.7%, against 9.5% at Leonardo DRS. Free cash flow was $295 million at BWX Technologies and $227 million at Leonardo DRS.
Side by side
| BWX Technologies | Leonardo DRS | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $3.2B | $3.6B |
| Revenue growth | 18.3% | 12.8% |
| Revenue growth a year, last 5 years | 8.5% | 5.6% |
| Gross margin | 22.9% | 23.8% |
| Operating margin | 12.7% | 9.5% |
| Net margin | 10.3% | 7.6% |
| Free cash flow | $295M | $227M |
| Free cash flow margin | 9.2% | 6.2% |
| Return on capital | 13.9% | 11.6% |
| Net debt to EBITDA | 3.0x | −0.4x |
| Dividends and buybacks | $122M | $35M |
| Change in diluted share count | −0.0% | 0.4% |
| Last close | $131.20 | $35.84 |
| P/E at the last close | 34.0× | 30.1× |
| Insider trades, last 12 months | sold $9.0 million | bought $1.1 million, sold $9.2 million |
| Piotroski F-score | 7 of 9 | 7 of 9 |
Amounts in each company's own currency, US$ 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
BWX TechnologiesLeonardo DRS
Operating margin
Percent of revenue
BWX TechnologiesLeonardo DRS
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
BWX TechnologiesLeonardo 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 BWX Technologies and Leonardo DRS pages.