Anduril’s valuation trajectory reflects rapid revenue scaling and defense contract momentum following its $5 billion Series H round at a $61 billion post-money valuation in May 2026. The company reported $2.2 billion in 2025 revenue, roughly doubled year-over-year, with 2026 guidance near $4.3 billion amid heavy investment in manufacturing capacity. Secondary-market marks have recently implied valuations of $100–117 billion, supported by unconfirmed reports of a potential $100 billion financing round that remained open into October. Key near-term drivers include progress on multi-billion-dollar DoD programs, such as the recently announced $6.6 billion Maryland shipyard initiative, and any follow-on private capital raises that could reset the mark before year-end resolution. Private valuations carry inherent uncertainty tied to funding terms and comparable defense-tech multiples.