DRONESHIELD LIMITED (DRO)
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DRO

DRO - DRONESHIELD LIMITED

FNArena Sector : Hardware & Equipment
Year End: December
GICS Industry Group : Capital Goods
Debt/EBITDA: -0.92
Index: ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.75

28 Oct
2025

0.150

OPEN

$4.73

3.26%

HIGH

$4.84

12,777,738

LOW

$4.66

TARGET
$5.15 8.4% upside
OTHER COMPANIES IN THE SAME SECTOR
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FNARENA'S MARKET CONSENSUS FORECASTS
DRO: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx - 0.2 4.0 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 105.6 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 © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-0.2
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx57.5 M
Book Value Per Share xxxxxxxxxxxxxxx35.7
Net Operating Cash Flow xxxxxxxxxxxxxxx-58.0 M
Net Profit Margin xxxxxxxxxxxxxxx-2.29 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-0.68 %
Return on Invested Capital xxxxxxxxxxxxxxx-0.66 %
Return on Assets xxxxxxxxxxxxxxx-0.58 %
Return on Equity xxxxxxxxxxxxxxx-0.68 %
Return on Total Capital xxxxxxxxxxxxxxx-6.79 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-64.4 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx9 M
Total Debt xxxxxxxxxxxxxxx9 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx219 M
Price To Book Value xxxxxxxxxxxxxxx2.14

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx13.0 M
Capex % of Sales xxxxxxxxxxxxxxx22.62 %
Cost of Goods Sold xxxxxxxxxxxxxxx16 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx55 M
Research & Development xxxxxxxxxxxxxxx22 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

1.0

No. Of Recommendations

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

Shaw and Partners

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

21/10/2025

1

Buy

$5.30

11.58%

DroneShield announced 3Q25 revenue of a record $92.9m, which was above Bell Potter's expectations and represented growth of 750% on the previous year's $7.8m.

Cash receipts came in at $77.5m with operating cash flow after capitalised R&D of $15.5m against a -$19.4m outflow a year before. Management pointed to current fixed cash costs of around $100m per annum. Cash balance came in at $212.8m at the end of the quarter.

The analyst views DroneShield as a market-leading counter-drone proposition with an improving competitive advantage, concentrated on detect-and-defeat capacity.

2026 is expected to mark an inflection point for the business as global spending on soft-kill detect-and-defeat solutions accelerate.

No change to Buy rating. Target price lifted to $5.30 from $3.70.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.50 cents.
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.40 cents.
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EXTRA COVERAGE
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No. Of Recommendations

0

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
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DRO STOCK CHART

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