The calculation of the drag force is a fundamental requirement in the design of any submerged system intended for marine exploration. The calculation can be performed by analytic analysis, numerical modeling, or by a direct calculation performed in a designated testing facility. However, for complex structures and especially those with a non-rigid design, the analytic and numerical analyses are not sufficiently accurate, while the direct calculation is a costly operation. In this paper, we propose a simple approach for how to calculate the drag coefficient in-situ. Aimed specifically at the complex case of elastic objects whose modeling via Computer-Aided Design (CAD) is challenging, our approach evaluates the relation between the object’s speed at steady-state and its mass to extract the drag coefficient in any desired direction, the hydro-static force, and, when relevant, also the thruster’s force. We demonstrate our approach for the special case of a highly complex elastic-shaped floater that profiles the water column. The analysis of two such floaters in two different sea environments shows accurate evaluation results and supports our claim for robustness. In particular, the simplicity of the approach makes it appealing for any arbitrary shaped object.