Symbols / DFSC Stock $3.06 +20.95% DEFSEC Technologies Inc.

Industrials • Aerospace & Defense • Canada • NCM
DFSC (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Industrials
Industry Aerospace & Defense
CEO Mr. Sean Homuth B.Comm., C.A., CPA
Exch · Country NCM · Canada
Market Cap 6.10M
Enterprise Value 2.36M
Income -8.25M
Sales 5.36M
FCF (ttm) -5.20M
Book/sh 2.67
Cash/sh 2.53
Employees 43
Insider 10d —
IPO Jan 08, 2021
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E —
Forward P/E —
PEG —
P/S 1.14
P/B 1.14
P/C —
EV/EBITDA -0.32
EV/Sales 0.44
Quick Ratio 3.49
Current Ratio 4.25
Debt/Eq 17.89
LT Debt/Eq —
EPS (ttm) -11.77
EPS next Y —
EPS Growth —
Revenue Growth 47.30%
EPS Gr Q/Q —
Rev Gr Q/Q —
Earnings (next) 2026-05-14
Earnings (prior) 2024-02-15
ROA -53.51%
ROE -134.43%
ROIC —
Gross Margin 32.41%
Oper. Margin -157.82%
Profit Margin -153.89%
Shs Outstand 1.99M
Shs Float 1.62M
Insider Own 0.74%
Instit Own 18.40%
Short Float 0.38%
Short Ratio 0.27
Short Interest 7.49K
52W High 15.37
vs 52W High -80.09%
52W Low 1.62
vs 52W Low 88.89%
Beta 0.54
Impl. Vol. —
Rel Volume 2.56
Avg Volume 169.39K
Volume 432.98K
Target (mean) —
Tgt Median —
Tgt Low —
Tgt High —
# Analysts —
Recom None
Prev Close $2.53
Price $3.06
Change 20.95%
About

DEFSEC Technologies Inc. engages in the development and commercialization of tactical systems for security, and personal defense markets. The company offers DEFSEC Lightning, a military digitization technology; Less-Lethal Munitions Systems, including PARA SHOT, a next-generation less-lethal system and ARWEN, a 40mm munition and new marking cartridge; It also provides BMA-Ready Solutions, including TAK and ATAK, tactical digital fires, battlefield laser detection system, and phantom tactical multi-function electromagnetic spectrum operations system. DEFSEC Technologies Inc. was formerly known as KWESST Micro Systems Inc. and changed its name to DEFSEC Technologies Inc. in June 2025. DEFSEC Technologies Inc. was founded in 2017 and is headquartered in Ottawa, Canada.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
—
Mean price target
2. Current target
$3.06
Latest analyst target
3. DCF / Fair value
$-46.92
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$3.06
Low
—
High
—
Mean
—
News
RSS: Latest DFSC news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-01-15 Mangano (Paul S.) Director of Issuer — 400 $1.36 $544
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-09-30 2024-09-30 2023-09-30 2022-09-30
Total Revenue
4.94
+228.56%
1.50
+21.86%
1.23
+71.09%
0.72
Operating Revenue
4.94
+229.35%
1.50
+21.85%
1.23
+71.05%
0.72
Cost Of Revenue
3.20
+214.85%
1.02
-28.62%
1.43
+165.65%
0.54
Reconciled Cost Of Revenue
3.20
+214.07%
1.02
-28.62%
1.43
+165.65%
0.54
Gross Profit
1.74
+257.25%
0.49
+354.21%
-0.19
-203.57%
0.18
Operating Expense
10.82
+5.18%
10.29
-13.66%
11.91
+15.93%
10.28
Research And Development
2.37
+0.59%
2.35
+53.91%
1.53
-25.91%
2.06
Selling General And Administration
7.38
+10.87%
6.65
-29.45%
9.43
+14.86%
8.21
Selling And Marketing Expense
2.04
+33.56%
1.53
-47.27%
2.89
-12.25%
3.30
General And Administrative Expense
5.34
+4.12%
5.13
-21.57%
6.54
+33.03%
4.92
Salaries And Wages
0.11
-61.03%
0.29
-21.90%
0.37
—
Other Gand A
5.23
+8.05%
4.84
-21.55%
6.17
+25.43%
4.92
Other Operating Expenses
—
—
—
—
Total Expenses
14.02
+24.06%
11.30
-15.26%
13.34
+23.37%
10.81
Operating Income
-9.08
+7.34%
-9.80
+19.05%
-12.10
-19.95%
-10.09
Total Operating Income As Reported
-9.08
+7.34%
-9.80
+19.05%
-12.10
-19.95%
-10.09
EBITDA
-8.29
-40.33%
-5.91
+22.57%
-7.63
+21.59%
-9.73
Normalized EBITDA
-9.72
-7.96%
-9.01
+31.15%
-13.08
-34.05%
-9.76
Reconciled Depreciation
1.08
-15.36%
1.28
+34.16%
0.95
+191.74%
0.33
EBIT
-9.37
-30.42%
-7.19
+16.28%
-8.58
+14.66%
-10.06
Total Unusual Items
1.43
-53.72%
3.10
-43.15%
5.45
+19641.94%
0.03
Total Unusual Items Excluding Goodwill
1.43
-53.72%
3.10
-43.15%
5.45
+19641.94%
0.03
Special Income Charges
-0.08
-1034.05%
-0.01
+97.51%
-0.29
-24894.08%
-0.00
Other Special Charges
0.00
—
—
—
Impairment Of Capital Assets
0.09
0.00
0.00
—
Net Income
-9.63
-29.43%
-7.44
+20.08%
-9.31
+11.54%
-10.52
Pretax Income
-9.63
-29.43%
-7.44
+20.08%
-9.31
+11.95%
-10.57
Net Non Operating Interest Income Expense
-0.17
+11.94%
-0.20
+70.61%
-0.67
-32.02%
-0.51
Interest Expense Non Operating
0.25
+1.07%
0.25
-65.17%
0.72
+41.32%
0.51
Net Interest Income
-0.17
+11.94%
-0.20
+70.61%
-0.67
-32.02%
-0.51
Interest Expense
0.25
+1.07%
0.25
-65.17%
0.72
+41.32%
0.51
Interest Income Non Operating
0.08
+46.96%
0.06
+0.31%
0.06
+827.09%
0.01
Interest Income
0.08
+46.96%
0.06
+0.31%
0.06
+827.09%
0.01
Other Income Expense
-0.37
-114.60%
2.56
-26.21%
3.47
+12453.55%
0.03
Other Non Operating Income Expenses
-1.81
-233.79%
-0.54
+72.72%
-1.99
—
Gain On Sale Of Security
1.52
-51.18%
3.11
-45.90%
5.74
+19854.54%
0.03
Tax Provision
0.00
0.00
0.00
+100.00%
-0.05
Tax Rate For Calcs
0.00
0.00
0.00
-100.00%
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
-100.00%
0.00
Net Income Including Noncontrolling Interests
-9.63
-29.43%
-7.44
+20.08%
-9.31
+11.54%
-10.52
Net Income From Continuing Operation Net Minority Interest
-9.63
-29.43%
-7.44
+20.08%
-9.31
+11.54%
-10.52
Net Income From Continuing And Discontinued Operation
-9.63
-29.43%
-7.44
+20.08%
-9.31
+11.54%
-10.52
Net Income Continuous Operations
-9.63
-29.43%
-7.44
+20.08%
-9.31
+11.54%
-10.52
Normalized Income
-11.06
-4.97%
-10.54
+28.60%
-14.76
-39.92%
-10.55
Net Income Common Stockholders
-9.63
-29.43%
-7.44
+20.08%
-9.31
+11.54%
-10.52
Diluted EPS
-15.78
+91.64%
-188.86
+60.56%
-478.80
+84.17%
-3,025.05
Basic EPS
-15.78
+91.64%
-188.86
+60.56%
-478.80
+84.17%
-3,025.05
Basic Average Shares
0.61
+1449.36%
0.04
+102.59%
0.02
+459.07%
0.00
Diluted Average Shares
0.61
+1449.36%
0.04
+102.59%
0.02
+459.07%
0.00
Diluted NI Availto Com Stockholders
-9.63
-29.43%
-7.44
+20.08%
-9.31
+11.54%
-10.52
Depreciation Amortization Depletion Income Statement
1.07
-15.98%
1.28
+34.16%
0.95
—
Depreciation And Amortization In Income Statement
1.07
-15.98%
1.28
+34.16%
0.95
—
Gain On Sale Of PPE
0.01
+193.84%
-0.01
+97.51%
-0.29
-24894.08%
-0.00
Line Item Trend 2023-09-30
Total Assets
11.76
Current Assets
6.84
Cash Cash Equivalents And Short Term Investments
5.41
Cash And Cash Equivalents
5.41
Cash Financial
—
Receivables
0.30
Accounts Receivable
0.07
Other Receivables
0.01
Taxes Receivable
0.23
Inventory
0.54
Raw Materials
0.36
Work In Process
0.06
Finished Goods
0.12
Prepaid Assets
—
Current Deferred Assets
0.00
Restricted Cash
0.03
Other Current Assets
0.56
Total Non Current Assets
4.92
Net PPE
0.78
Gross PPE
1.20
Accumulated Depreciation
-0.42
Properties
0.00
Buildings And Improvements
0.36
Machinery Furniture Equipment
0.26
Other Properties
0.45
Leases
0.13
Goodwill And Other Intangible Assets
4.11
Other Intangible Assets
4.11
Non Current Deferred Assets
0.00
Non Current Prepaid Assets
0.03
Total Liabilities Net Minority Interest
7.82
Current Liabilities
6.38
Payables And Accrued Expenses
1.80
Payables
0.46
Accounts Payable
0.37
Other Payable
0.09
Current Accrued Expenses
1.34
Total Tax Payable
—
Current Debt And Capital Lease Obligation
0.13
Current Debt
—
Other Current Borrowings
—
Current Capital Lease Obligation
0.13
Current Deferred Liabilities
0.12
Current Deferred Revenue
0.12
Other Current Liabilities
4.34
Total Non Current Liabilities Net Minority Interest
1.44
Long Term Debt And Capital Lease Obligation
0.30
Long Term Debt
—
Long Term Capital Lease Obligation
0.30
Stockholders Equity
3.94
Common Stock Equity
3.94
Capital Stock
33.38
Common Stock
33.38
Share Issued
0.03
Ordinary Shares Number
0.03
Treasury Shares Number
0.00
Additional Paid In Capital
4.77
Retained Earnings
-35.22
Gains Losses Not Affecting Retained Earnings
-0.04
Other Equity Adjustments
-0.04
Total Equity Gross Minority Interest
3.94
Total Capitalization
3.94
Working Capital
0.46
Invested Capital
3.94
Total Debt
0.43
Net Debt
—
Capital Lease Obligations
0.43
Net Tangible Assets
-0.18
Tangible Book Value
-0.18
Interest Payable
0.00
Non Current Accrued Expenses
1.14
Other Equity Interest
1.04
Line Item Trend 2025-09-30 2024-09-30 2023-09-30 2022-09-30
Operating Cash Flow
-7.96
+12.18%
-9.06
+35.64%
-14.08
-230.75%
-4.26
Cash Flow From Continuing Operating Activities
-7.96
+12.18%
-9.06
+35.64%
-14.08
-230.75%
-4.26
Net Income From Continuing Operations
-9.63
-29.43%
-7.44
+20.08%
-9.31
+11.54%
-10.52
Depreciation Amortization Depletion
1.08
-15.36%
1.28
+34.16%
0.95
+191.74%
0.33
Depreciation
0.27
-16.96%
0.33
-12.10%
0.38
+19.17%
0.32
Amortization Cash Flow
0.81
-14.80%
0.95
+64.34%
0.58
+5175.37%
0.01
Depreciation And Amortization
1.08
-15.36%
1.28
+34.16%
0.95
+191.74%
0.33
Amortization Of Intangibles
0.81
-14.80%
0.95
+64.34%
0.58
+5175.37%
0.01
Other Non Cash Items
1.98
+909.08%
0.20
-70.61%
0.67
+32.02%
0.51
Stock Based Compensation
0.11
-61.03%
0.29
-21.90%
0.37
-80.94%
1.96
Asset Impairment Charge
0.07
0.00
-100.00%
1.17
0.00
Deferred Tax
—
0.00
0.00
+100.00%
-0.05
Deferred Income Tax
—
0.00
0.00
+100.00%
-0.05
Operating Gains Losses
-1.30
+57.36%
-3.04
+44.68%
-5.50
-471809.18%
0.00
Gain Loss On Investment Securities
-1.33
+56.50%
-3.05
+47.33%
-5.79
—
Net Foreign Currency Exchange Gain Loss
0.03
0.00
0.00
0.00
Gain Loss On Sale Of PPE
0.00
-100.00%
0.01
-97.51%
0.29
+24894.08%
0.00
Change In Working Capital
-0.36
-4.24%
-0.34
+85.12%
-2.31
-163.47%
3.64
Change In Receivables
-0.93
-246.00%
-0.27
-108.44%
-0.13
-120.32%
0.63
Change In Inventory
0.01
+46.93%
0.01
+106.20%
-0.15
-401.04%
0.05
Change In Prepaid Assets
0.00
-99.90%
0.38
+187.08%
-0.44
-203.37%
0.43
Change In Payables And Accrued Expense
0.76
+286.80%
-0.41
+75.56%
-1.67
-166.25%
2.52
Change In Accrued Expense
-0.20
-33.33%
-0.15
0.00
0.00
Change In Payable
0.96
+473.47%
-0.26
+84.56%
-1.67
-166.25%
2.52
Change In Account Payable
0.96
+473.47%
-0.26
+84.56%
-1.67
-166.25%
2.52
Change In Other Working Capital
-0.21
-475.23%
-0.04
-148.84%
0.07
+323.31%
0.02
Change In Other Current Liabilities
0.00
+100.00%
-0.03
0.00
0.00
Investing Cash Flow
-0.18
-62.31%
-0.11
+92.28%
-1.44
-29.35%
-1.11
Cash Flow From Continuing Investing Activities
-0.18
-62.31%
-0.11
+92.28%
-1.44
-29.35%
-1.11
Net PPE Purchase And Sale
-0.14
-38.77%
-0.10
+42.73%
-0.18
+5.62%
-0.19
Purchase Of PPE
-0.14
-38.77%
-0.10
+42.73%
-0.18
+5.62%
-0.19
Capital Expenditure
-0.17
-50.51%
-0.11
+91.45%
-1.30
+4.69%
-1.36
Net Business Purchase And Sale
0.00
0.00
-100.00%
0.01
-96.88%
0.25
Net Intangibles Purchase And Sale
-0.03
-171.56%
-0.01
+99.13%
-1.12
+4.54%
-1.18
Purchase Of Intangibles
-0.03
-171.56%
-0.01
+99.13%
-1.12
+4.54%
-1.18
Net Other Investing Changes
-0.02
—
-0.15
—
Financing Cash Flow
14.60
+263.09%
4.02
-80.62%
20.76
+627.55%
2.85
Cash Flow From Continuing Financing Activities
14.60
+263.09%
4.02
-80.62%
20.76
+627.55%
2.85
Net Issuance Payments Of Debt
-0.17
+12.90%
-0.20
+91.79%
-2.41
-196.32%
2.50
Issuance Of Debt
—
0.00
0.00
-100.00%
2.54
Repayment Of Debt
-0.17
+12.90%
-0.20
+91.79%
-2.41
-5567.24%
-0.04
Long Term Debt Issuance
—
0.00
0.00
-100.00%
2.54
Long Term Debt Payments
-0.17
+12.90%
-0.20
+91.79%
-2.41
-5567.24%
-0.04
Net Long Term Debt Issuance
-0.17
+12.90%
-0.20
+91.79%
-2.41
-196.32%
2.50
Net Common Stock Issuance
18.72
+276.96%
4.97
-79.05%
23.70
+6790.63%
0.34
Proceeds From Stock Option Exercised
0.40
+24874.40%
0.00
-60.19%
0.00
-98.12%
0.22
Net Other Financing Charges
-4.35
-481.19%
-0.75
-37.69%
-0.54
-161.38%
-0.21
Changes In Cash
6.46
+225.52%
-5.15
-198.35%
5.24
+308.00%
-2.52
Effect Of Exchange Rate Changes
-0.04
0.00
0.00
—
Beginning Cash Position
0.26
-95.25%
5.41
+3070.43%
0.17
-93.66%
2.69
End Cash Position
6.69
+2503.47%
0.26
-95.25%
5.41
+3070.43%
0.17
Free Cash Flow
-8.12
+11.42%
-9.17
+40.36%
-15.38
-173.61%
-5.62
Common Stock Issuance
18.72
+276.96%
4.97
-79.05%
23.70
+6790.63%
0.34
Interest Paid CFO
0.07
+1598.82%
-0.00
+96.16%
-0.13
-8.06%
-0.12
Interest Received CFO
0.07
—
—
—
Issuance Of Capital Stock
18.72
+276.96%
4.97
-79.05%
23.70
+6790.63%
0.34
Sale Of Business
0.00
0.00
-100.00%
0.01
-96.88%
0.25
SEC Filings

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