Anduril's valuation has climbed sharply in 2026, with its May Series H round setting a $61 billion post-money mark after raising $5 billion, followed by an October employee tender offer implying $90 billion at $94.80 per share. Secondary market quotes now range from $90 billion to over $120 billion, supported by projected 2026 revenue of roughly $4.3 billion, up from $2.2 billion in 2025, alongside major contract wins including Navy submarine components and SOCOM counter-UAS integration. Traders are pricing in continued momentum from defense spending and expansion, though the tender closes in November and any new primary round remains unconfirmed, leaving room for sentiment shifts before year-end resolution.