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Draganfly

DPRO
29
Aerospace & Defense · Industrials
Price
$4.49
+0.21 (+4.91%)
Market Cap
$163.9M
Exchange
NASDAQ
Winston Score
29
Winston is worried
Below-average fundamentals — multiple weak pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Weak
Growth
Good
Cash Flow
Weak
Stability
Good
Valuation
Data not available

Share count rising — dilution

+1313.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 1.1M (2021) → 15.7M (2025)

Winston Score History

The full picture

Draganfly Inc. is a Canadian company that designs and sells drones — small flying machines used to collect data, deliver supplies, and inspect hard-to-reach places. Its customers include public safety agencies, agriculture businesses, and defense organizations that need aerial tools without buying full-sized aircraft. Draganfly is one of the older commercial drone companies in North America, having started in the late 1990s.

The company makes money by selling drone hardware, software, and related services like training and data analytics. It operates primarily in Canada and the United States, with some international sales, but remains very small with a market cap around $100 million. Its deep operating losses — nearly three times its revenue — highlight the core risk: the commercial drone market is crowded with larger, better-funded competitors like DJI, and Draganfly must scale revenue significantly before it can reach profitability.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+26.0% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+45.0% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

C$2M/ year

Rising (+113% vs prior year)

25.5% of revenue

6.4x the sector average (4%)

Investing heavily in future products and technology

Insider Activity

11.7%ownership

Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

~2 years

C$132M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

C$132M cash & investments at current burn rate

Strong grower

Draganfly is growing revenue at 26% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
14.6%
Thin — 14.6% gross margin
Profit after running costs
Operating Margin
-582.6%
Losing money on operations — -582.6%
Return on the money invested
ROCE
-24.1%
Weak — -24.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
+26.3%
Fast-growing sales (+26.3% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-418.5%
Burning cash (-418.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.00
Conservative — low debt load (0.00)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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