Draganfly

DPRO.CN

Aerospace & Defense · Industrials

Price

C$6.46

+0.26 (+4.19%)

Market Cap

C$235.8M

Exchange

Canadian Securities Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 9, 2026 · filings through Mar 31, 2026

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)

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.

Winston Score History

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

+49.4% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+83.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$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

~4 years

$147M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$147M cash & investments at current burn rate

Revenue accelerating

Draganfly grew revenue 49% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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

Gross Margin

9.7%

Thin — 9.7% gross margin

Operating Margin

-330.0%

Losing money on operations — -330.0%

ROCE

-4.9%

Weak — -4.9% return on capital

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

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Growth

Sales YoY

+25.3%

Fast-growing sales (+25.3% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-344.8%

Burning cash (-344.8%)

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

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

N/A

—

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

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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