DRS vs HII: Leonardo DRS and Huntington Ingalls Industries compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Huntington Ingalls Industries is the larger company, worth $10.1B, close to Leonardo DRS's $9.4B.
- Huntington Ingalls Industries grew revenue faster over the last year (+10.9% vs +10.1%).
- Leonardo DRS keeps more of each dollar of revenue as operating profit (10.5% vs 5.3%).
- On earnings, Huntington Ingalls Industries is the cheaper stock (16.7x vs 33.1x).
- Leonardo DRS's price assumes faster free cash flow growth: about 15% a year, against -1% for Huntington Ingalls Industries (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | DRS | HII |
|---|---|---|
| Market cap | $9.4B | $10.1B |
| Share price | $36.24 | $264.80 |
| Revenue (last fiscal year) | $3.6B | $12.5B |
| Free cash flow (last fiscal year) | $227M | $794M |
| Revenue growth, last year | +10.1% | +10.9% |
| Revenue growth per year, last 5 fiscal years | +6.1% | +7.0% |
| Operating margin | 10.5% | 5.3% |
| Net margin | 8.5% | 5.0% |
| Return on equity | 11.5% | 12.4% |
| P/E (trailing) | 33.1x | 16.7x |
| Price / free cash flow | 41.6x | 12.8x |
| EV / EBITDA | 19.3x | 10.2x |
| FCF growth the price implies | 14.6% | -0.91% |
| Dividend yield | 0.98% | 2.1% |
| Debt / equity | 0.50x | 1.39x |
| Fundamental grade | C | C |
| Superinvestors holding it | 3 | 4 |
| Insider purchases, last 12 months | 2 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Leonardo DRS
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $2.9B | $118M | 8.2% |
| 2022 | $2.7B | -$32M | 20.8% |
| 2023 | $2.8B | $145M | 8.2% |
| 2024 | $3.2B | $186M | 9.1% |
| 2025 | $3.6B | $227M | 9.5% |
Huntington Ingalls Industries
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $9.5B | $429M | 5.4% |
| 2022 | $10.7B | $482M | 5.3% |
| 2023 | $11.5B | $678M | 6.8% |
| 2024 | $11.5B | $26M | 4.6% |
| 2025 | $12.5B | $794M | 5.3% |
Where the revenue comes from
Leonardo DRS · by segments, 2025
ASC$2.4B64%
IMS$1.3B36%
Huntington Ingalls Industries · by segments, 2025
Newport News Shipbuilding$6.5B52%
Ingalls$3.1B24%
Mission Technologies$3.0B24%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open DRS in InvestinglyQuestions
Which is bigger, Leonardo DRS or Huntington Ingalls Industries?
Huntington Ingalls Industries (HII), at $10.1B against $9.4B.
Is DRS or HII cheaper?
By trailing P/E, Huntington Ingalls Industries (16.7x) is cheaper than Leonardo DRS (33.1x). A lower multiple can also mean the market expects less growth.
Which grows faster, DRS or HII?
Huntington Ingalls Industries: revenue grew +10.9% over the last year, against +10.1%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.