In pitching the very same bilateral trade agreements two and three years ago that the business community is pitching today, then-USTR Susan Schwab liked to remind Congress that the United States had an aggregatetrade surplus with the countries with whom the Bush administration had concluded free trade agreements, as though that were the appropriate success metric.
Valued at 17 times trailing earnings per share, DRS shares trade right in line with the aggregate price-to-earnings ratio among U.S. aerospace and defense stocks.
In the aggregate, U.S. aerospace stocks now trade at 17 times the projected next-12-month earnings, a premium to the market multiple of 15 times projected earnings.