20 minute delayed
Join Market Matters and get full access to all our Opinion + Action
Undervalued
Morningstar Quantitative Rating as of 6 NOV 2026.
Quantitative Equity Rating Methodology – view here
Five-star price 1.44 Fair value 2.04 One-star price 2.89
Morningstar Quantitative Rating as of 6 NOV 2026.
Morningstar Quantitative Rating as of 6 NOV 2026. The slider runs from the five-star price (1.44) to the one-star price (2.89).
| Ratios |
|---|
| Currency (Price/reporting): AUD/AUD |
| Exchange Rate: 1.0000 |
| Price - closing or last bid | 1.28 |
| Price - 12 month high | 4.81 |
| Price - 12 month low | 1.21 |
| Pricing date | 5 NOV 2026 |
| Volume - avg. trading volume for the last ten days | 6.53 |
| Market capitalization | 1,180.38 |
| 12 Month High price date | 20 JAN 2026 |
| 12 Month Low price date | 4 NOV 2026 |
| Volume - avg. trading volume for the last 3 months | 10.36 |
| Price - 1 Day % Change | -2.67% |
| Price - 13 week price percent change | -41.78% |
| Price - 26 week price percent change | -66.18% |
| Price - 5 Day % Change | -12.07% |
| Price - 52 week price percent change | -66.88% |
| Price - YTD price percent change | -58.60% |
| Price % Change Month To Date | -29.36% |
| EPS excluding extraordinary items - most recent fiscal year | 0.004 |
| EPS excluding extraordinary items - trailing 12 month | -0.033 |
| EPS Normalized - most recent fiscal year | 0.036 |
| Revenue/share - most recent fiscal year | 0.235 |
| Revenue/share - trailing 12 month | 0.285 |
| Book value per share - most recent fiscal year | 0.369 |
| Book value per share - most recent half-year | 0.333 |
| Book value (tangible) per share - most recent fiscal year | 0.346 |
| Book value (tangible) per share - most recent half-year | 0.299 |
| Cash per share - most recent fiscal year | 0.229 |
| Cash per share - most recent half-year | 0.158 |
| Cash Flow per share - most recent fiscal year | 0.017 |
| Cash Flow per share - trailing 12 month | 0.014 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.000 |
| EBITD per share - trailing 12 month | -0.046 |
| EPS Basic excluding extraordinary items - most recent fiscal year | 0.004 |
| EPS Basic excluding extraordinary items - trailing 12 month | -0.033 |
| EPS including extraordinary items - most recent fiscal year | 0.004 |
| EPS including extraordinary items - trailing 12 month | -0.033 |
| Free Cash Flow per share - trailing 12 month | -0.029 |
| P/E excluding extraordinary items, most recent fiscal year | — |
| P/E Normalized, most recent fiscal year | — |
| Price to sales - most recent fiscal year | 4.47 |
| Price to Tangible Book - most fiscal year | 4.27 |
| Price to Free Cash Flow per Share - most recent fiscal year | — |
| Price to Cash Flow per share - trailing 12 month | 92.19 |
| Price to Book - most recent fiscal year | 3.82 |
| P/E excluding extraordinary items high, trailing 12 months | 1,120.00 |
| P/E excluding extraordinary items low, trailing 12 months | 258.83 |
| Net Debt, LFI | -161.83 |
| Net Debt, LFY | -195.24 |
| Dividend Yield - 5 Year Average | — |
| Dividend Yield - indicated annual dividend divided by closing price | — |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 0.00% |
| Free Cash Flow - most recent fiscal year | -15.42 |
| LT debt/equity - most recent fiscal year | 3.27% |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 4.23% |
| LT debt/equity - most recent half-year | 4.78% |
| Total debt/total equity - most recent half-year | 5.40% |
| Free Cash Flow - trailing 12 month | -27.06 |
| Payout ratio - trailing 12 month | — |
| Revenue - most recent fiscal year | 216.55 |
| Revenue - trailing 12 month | 269.99 |
| EBITD - most recent fiscal year | 4.50 |
| EBITD - trailing 12 month | -43.88 |
| Earnings before taxes - most recent fiscal year | 1.25 |
| Earnings before taxes - trailing 12 month | -37.19 |
| Net Income available to common - most recent fiscal year | 3.52 |
| Net Income available to common - trailing 12 months | -30.83 |
| Earnings before taxes Normalized - most recent fiscal year | 24.76 |
| Net Income Available to Common, Normalized - most recent fiscal year | 33.26 |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | -0.01 |
| Net Profit Margin % - 1st historical fiscal year | 1.63% |
| Net Profit Margin % - trailing 12 month | -11.42% |
| Operating margin - 1st historical fiscal year | -1.87% |
| Operating margin - trailing 12 month | -14.05% |
| Pretax margin - trailing 12 month | -13.77% |
| Pretax margin - 1st historical fiscal year | 0.58% |
| Operating Margin - 5 year average | -21.16% |
| Pretax Margin - 5 year average | -16.78% |
| Free Operating Cash Flow/Revenue, 5 Year Average | -36.12% |
| Free Operating Cash Flow/Revenue, TTM | -10.02% |
| Net Profit Margin - 5 year average | -7.96% |
| Return on average assets - most recent fiscal year | 0.94% |
| Return on average assets - trailing 12 month | -7.76% |
| Return on average equity - most recent fiscal year | 1.10% |
| Return on average equity - trailing 12 month | -9.64% |
| Return on average assets - 5 year average | -3.76% |
| Return on average equity - 5 year average | -4.39% |
| Net Income/employee - most recent fiscal year | — |
| Revenue/employee - most recent fiscal year | — |
| Revenue growth rate, 5 year | 112.26% |
| EPS growth rate, 5 year | — |
| Growth rate% - dividend, 3 year | — |
| Revenue/share (5 yr growth) | 69.48% |
| Growth rate% - Revenue, 3 year | 134.44% |
| Growth rate% - EPS, 3 year | — |
| Book value per share growth rate, 5 year | 48.96% |
| Capital Spending growth rate, 5 year | 109.05% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | — |
Financial forecast (AUD, millions except per share)
| Actuals | Estimates | |||||||
| 2025 | 2026 | 2027 | 2028 | |||||
| Estimate breakdown | ||||||||
Financials (AUD, millions)
| Period end: | DEC 21 | DEC 22 | DEC 23 | DEC 24 | DEC 25 |
| Fiscal year: | 2021 | 2022 | 2023 | 2024 | 2025 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
Counter-drone technology company DRO produces systems that detect, track, and defeat unmanned aerial threats i.e. how wars will be fought in the next decade. The stock, like the sector, surged dramatically in 2023–24 on the back of Ukraine-driven demand but has given back significant ground since late 2025 following one of the most significant corporate governance crises on the ASX in recent years:
DroneShield Limited (ASX: DRO) is one of the most dramatic insider selling stories in recent times and was the catalyst for a significant share price collapse. Importantly, today’s note isn’t about conspiracy theories; it's simply focused on what's happened to stocks following recent share sales and whether, moving forward, MM and subscribers should be more active following such events.
DroneShield ((DRO) crashes over 30% as investors lose confidence after director selling.
DRO has recently entered the ASX200, as its market cap soared to an eye-catching $5bn, for a company only just profitable. In the 1H25, DRO reported revenue of $72.3mn, up over 200% YoY, which dropped down to a profit (NPAT) of $2.1mn. However, this is a growth stock on steroids with revenue set to jump to $245mn in FY26, and $300mn in FY27. To recap, DRO, as its name implies, develops counter-drone and electronic warfare systems that detect and neutralise hostile drones for defence, government, and critical infrastructure customers worldwide.
DroneShield has become one of the hottest defence companies of the last 12 months, sending its market cap surging to $3.3bn, and after its recent 33% correction the stock has got the bit back between its teeth this week after announcing it has sold more than 4000 systems worldwide and receiving orders for $7.9mn from the US defence department. The market remains excited that the company is preparing to begin manufacturing in Europe in the first quarter of 2026, with plans to establish a separate research and development centre of excellence.
The rise of DroneShield has led it become one of the most discussed stocks in our Q&A Weekend Report. DRO is an Australian defence technology company that develops AI-powered systems to detect, track, and neutralize hostile drones for military, government, and critical infrastructure clients worldwide.
DroneShield (DRO) specialises in counter-drone and counter-uncrewed systems technologies to detect, identify, and neutralise unauthorised or hostile drones in various environments.
MM is now neutral towards DRO around $2
MM still has no interest in DRO around $2.30
MM is neutral towards DRO
MM is neutral towards DroneShield Ltd (DRO)
MM is neutral towards DRO
MM is cautiously bullish towards DRO
MM is cautiously bullish towards DRO
MM is cautiously bullish towards DRO
MM is bullish DRO ~$1.13
Droneshield Ltd develops and sells hardware and software for drone detection and security. The principal activity of the company is the development, commercialization, and sales of hardware and software technology for drone detection and security. It has four products: Dismounted, which include RfPatrol Mk2, DroneGun Mk4, Immediate Response Kit (IRK), DroneGun Tactical; On-The-Move includes DroneSentry-X Mk2, Expeditionary Fixed Site (EFS) Kit; Fixed Site includes DroneSentry; and Software includes DroneSentry-C2, Tactical DroneSentry-C2, and DroneOptID. The company provides its solutions to the intelligence community, Government, law enforcement, critical infrastructure, and airports globally. Its geographical segments are the United States, Australia and the rest of World.
Forgot password? Request a One Time Password or reset your password
One Time Password
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
A link to create a new password will be sent to the email address you have registered to your account.
Hi, this is only available to members. Join today and access the latest views on the latest developments from a professional money manager.
Our Smart Phone App will give you access to much of our content and notifications. Download for free today.
Hi, this is only available to members. Join today and access the latest views on the latest developments from a professional money manager.
JOIN NOW
Something went wrong. Please try again in a moment.
