T3 Defense Inc. (DFNS) stock analysis
DFNSNasdaqServices-Management Consulting ServicesFiscal year ends December 31Also trades as DFNSW
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 18, 2026
$2.00−0.48 (-19.35%)
Close on Nov 12, 2026Market cap $3.33MP/E –Yield –
Margins
Share of revenue, fiscal years 2019 to 2024
Gross margin
16.9%
Operating margin
-120.1%
Net margin
-144.1%
Growth rates
Compound annual growth to fiscal 2024
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -72.2% | – | – | – |
Returns and balance sheet
4 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2019 | FY2019 | FY2024 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 128.2% | |
| Return on assets | – | – | -392.8% | |
| Current ratio | – | – | 0.14 | |
| Interest coverage | – | – | -18.4× | |
| Diluted shares | 0M | 0M | 0M |
Cash use needs five years of cash flow figures
T3 Defense does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-144.1%
×Asset turnover2.73×
×Equity multiplier-0.33×
=Return on equity, FY2024128.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2024 | -144.1% | 2.73× | -0.33× | 128.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2024 against fiscal 2023
2of 6 tests passed in fiscal 2024. Some tests lack the figures they need.
- ProfitableNet income above zero-$8.52M
- Cash generatingOperating cash flow above zero-$3.82M
- Return on assets improvedROA up on the prior year– → -254.1%
- Earnings backed by cashOperating cash flow above net income-$3.82M vs -$8.52M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose0.32 → 0.14
- No dilutionShare count did not rise0M → 0M
- Gross margin improvedGross margin up on the prior year-1.61% → 16.89%
- More efficientAsset turnover rose– → 1.76
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