DRONESHIELD LIMITED (DRO)
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DRO

DRO - DRONESHIELD LIMITED

FNArena Sector : Military
Year End: December
GICS Industry Group : Capital Goods
Debt/EBITDA: 2.18
Index: ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.88

16 Jun
2026

-0.040

OPEN

$2.92

-1.37%

HIGH

$3.01

6,117,992

LOW

$2.87

TARGET
$3.54 22.9% upside
OTHER COMPANIES IN THE SAME SECTOR
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FNARENA'S MARKET CONSENSUS FORECASTS
DRO: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 0.4 4.6 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A 100.0% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 61.5 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx0.4
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx216.5 M
Book Value Per Share xxxxxxxxxxxxxxx36.9
Net Operating Cash Flow xxxxxxxxxxxxxxx24.1 M
Net Profit Margin xxxxxxxxxxxxxxx1.63 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx1.09 %
Return on Invested Capital xxxxxxxxxxxxxxx1.05 %
Return on Assets xxxxxxxxxxxxxxx0.92 %
Return on Equity xxxxxxxxxxxxxxx1.09 %
Return on Total Capital xxxxxxxxxxxxxxx-1.20 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx9.2 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx3 M
Long Term Debt xxxxxxxxxxxxxxx11 M
Total Debt xxxxxxxxxxxxxxx14 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx209 M
Price To Book Value xxxxxxxxxxxxxxx8.36

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx30.8 M
Capex % of Sales xxxxxxxxxxxxxxx14.24 %
Cost of Goods Sold xxxxxxxxxxxxxxx108 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx112 M
Research & Development xxxxxxxxxxxxxxx45 M
Investments - Total xxxxxxxxxxxxxxx1 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.3

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

4

xxxxxxxxxx xx xxxxxxxx xxxx xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Bell Potter

23/04/2026

1

Buy

$4.80

66.67%

DroneShield announced 1Q2026 revenue of $74m, up 121% y/y and ahead of the prior $63m trading update due to delivery timing, Bell Potter explains, with SaaS contributing $5.1m for the quarter.

Committed 2026 revenue of $155m as at April, reflecting steady order flow including a FIFA World Cup contract, tracking ahead of forecasts and representing 42% of its upgraded $365m revenue estimate.

The broker points to a strong balance sheet, with a fourth consecutive quarter of positive operating cash flow at $24.1m and cash of $222.8m, alongside an unchanged $2.2bn sales pipeline.

EPS forecasts slip by -7% for 2026 and lift by 4% for 2027, with the current year viewed as an inflection point for the global C-UAS industry.

No change to Buy rating and $4.80 target price.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.00 cents.
Bell Potter forecasts a full year FY27 dividend of 0.00 cents and EPS of 9.00 cents.
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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

16/06/2026

1

Initiation of coverage with Speculative Buy

$3.75

30.21%

Canaccord Genuity initiates coverage on DroneShield with a Speculative Buy rating and a $3.75 target price amid an accelerating global procurement environment for counter-drone technologies.

The pure-play contractor maintains active hardware deployments spanning 70 countries, supported by a proprietary signal database and vertically integrated manufacturing capability.

The analyst highlights strong 65% gross margins and an extensive multi-billion dollar project pipeline expected to drive high operating leverage and robust free cash flow expansion through to FY28.

Structural market demand remains underpinned by recent geopolitical friction points and compressed allied defense procurement timelines across NATO member states.

The investment thesis notes the group targets $1bn in annual revenue by the FY30 horizon, with software subscription contributions projected to expand to 30%.
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DRO STOCK CHART

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