DEFSEC Technologies Inc. (DFSC) Key Metrics
DFSC key metrics, FY2021–FY2025
Fiscal year ended September 30, 2025 · Canadian dollarsDFSC returns How much profit the business earns on the capital it uses.
DFSC financial health Debt, liquidity and how easily interest is covered.
DFSC efficiency & capital use Working capital cycle and where the cash goes.
DFSC returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
DFSC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
DFSC key metrics in Canadian dollars
FY2021–FY2025| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Returns & profitability | |||||
| Return on equity (ROE) | −210.0% | −280.5% | −634.7% | — | −152.1% |
| Return on invested capital (ROIC) | −374.4% | — | — | −307.9% | −191.5% |
| Return on assets (ROA) | −103.9% | −85.6% | −97.5% | −131.2% | −106.9% |
| Return on tangible assets | −91.4% | −304.5% | −121.7% | −407.7% | −177.5% |
| Free cash flow margin | −164.4% | −609.7% | — | −779.0% | −560.3% |
| Financial health | |||||
| Total debt | C$1.3M | C$302,223 | C$429,523 | C$2.6M | C$361,160 |
| Cash & short-term investments | C$6.7M | C$256,828 | C$5.4M | C$170,545 | C$2.7M |
| Net debt | −C$5.4M | C$45,395 | −C$5.0M | C$2.4M | −C$2.3M |
| Debt / equity | 0.17 | 0.22 | 0.11 | — | 0.06 |
| Debt / assets | 0.10 | 0.05 | 0.04 | 0.35 | 0.04 |
| Current ratio | 3.07 | 0.62 | 1.07 | 0.22 | 3.50 |
| Quick ratio | 2.89 | 0.44 | 0.99 | 0.16 | 3.42 |
| Interest coverage | -35.6 | -38.9 | -16.7 | -19.7 | -79.3 |
| Working capital | C$6.0M | −C$1.1M | C$458,439 | −C$5.4M | C$2.9M |
| Invested capital | C$2.4M | C$1.4M | −C$1.0M | C$1.4M | C$3.8M |
| Tangible asset value | C$5.4M | −C$1.8M | −C$176,730 | −C$5.7M | C$2.7M |
| Net current asset value | C$3.8M | −C$2.4M | −C$981,138 | −C$6.8M | C$1.5M |
| Capital allocation | |||||
| Capex / revenue | 3.4% | 7.4% | 105.3% | 189.1% | 70.0% |
| Capex / depreciation | 0.15 | 0.09 | 1.36 | 4.18 | 6.34 |
| Stock-based compensation / revenue | 2.3% | 19.4% | 30.3% | 271.7% | 193.0% |
| R&D / revenue | 47.9% | 164.7% | 133.2% | 286.1% | 167.6% |
| SG&A / revenue | 149.2% | 519.0% | 831.9% | 1,138.1% | 591.1% |
| Efficiency | |||||
| Days sales outstanding | 76.1 | 105.3 | 69.8 | 220.3 | 200.1 |
| Days of inventory on hand | 60.0 | 192.9 | 119.8 | 164.5 | 41.3 |
| Days payables outstanding | 73.6 | 223.9 | 340.5 | 990.5 | 283.3 |
| Cash conversion cycle (days) | 62.5 | 74.2 | -150.9 | -605.6 | -42.0 |
| Receivables turnover | 4.79 | 3.47 | 5.23 | 1.66 | 1.82 |
| Payables turnover | 4.96 | 1.63 | 1.07 | 0.37 | 1.29 |
| Inventory turnover | 6.09 | 1.89 | 3.05 | 2.22 | 8.85 |
| Asset turnover | 0.53 | 0.17 | 0.13 | 0.09 | 0.15 |
| Average receivables | C$1.0M | C$434,072 | C$236,076 | C$435,566 | C$699,251 |
| Average payables | C$645,766 | C$624,482 | C$1.3M | C$1.5M | C$620,041 |
| Average inventory | C$526,386 | C$537,776 | C$467,963 | C$241,918 | C$90,299 |
| Intangibles / total assets | 18.5% | 56.5% | 35.0% | 64.8% | 39.8% |
Computed from DFSC's annual financial statements (latest annual report filed September 30, 2025) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Canadian dollars; data from EODHD. Averages use the opening and closing balance of each year.
DFSC valuation and financial ratios
DEFSEC Technologies earned a return on equity of −210.0% and a return on invested capital of −374.4% in fiscal 2025. It ended the year with C$1.3 million of debt and C$6.7 million in cash and short-term investments, a net cash position of C$5.4 million.
See the DFSC income statement, the DFSC chart for price history, or the DFSC stock overview for the latest quote and news.
DFSC key metrics FAQ
What is DEFSEC Technologies's return on equity?
DEFSEC Technologies's return on equity (ROE) was −210.0% in fiscal 2025: net income of -C$9.6 million on average shareholders' equity of C$4.6 million.
What is DEFSEC Technologies's ROIC?
DEFSEC Technologies's return on invested capital was −374.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does DEFSEC Technologies have?
DEFSEC Technologies had total debt of C$1.3 million at the end of fiscal 2025, a debt-to-equity ratio of 0.17 and more cash than debt.
What is DEFSEC Technologies's current ratio?
DEFSEC Technologies's current ratio was 3.07 at the end of fiscal 2025: current assets were 3.07 times current liabilities.