Draganfly

DPRO.CN

Aerospace & Defense · Industrials

Price

C$6.23

+0.28 (+4.71%)

Market Cap

C$227.4M

Exchange

Canadian Securities Exchange

Winston Score

Winston is worried

Weak fundamentals across most 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

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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 drone company that designs and sells unmanned aerial vehicles (UAVs) and related software. Its products include drones used for agriculture, public safety, emergency response, and infrastructure inspection. The company is one of the oldest commercial drone makers in North America, having started in the late 1990s.

Draganfly makes money by selling drone hardware, software platforms, and services to government agencies, first responders, and commercial customers. It operates primarily in Canada and the United States, with some international activity. The company is very small, with a market cap around $100 million, and it faces intense competition from much larger drone makers, including DJI from China. Its operating margin is deeply negative, meaning it spends far more than it earns, which is the central risk — the company must grow revenue significantly or cut costs to reach profitability before it runs out of financial runway.

Growth Profile

For growth stock investors

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

+45.9% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

C$970,859/ year

→ Flat (+5% vs prior year)

12.6% of revenue

3.1x the sector average (4%)

Steady R&D investment year-over-year

Insider Activity

0.5%ownership

Relatively low insider ownership

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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

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

-24.3%

Weak — -24.3% 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

-418.3%

Burning cash (-418.3%)

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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