GD · General Dynamics Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $52.55B | $47.72B | $42.27B | $39.41B | $38.47B | $37.92B |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $2.60B | $2.57B | $2.43B | $2.41B | $2.25B | $2.19B |
| Total Operating Expenses | $47.19B | $42.92B | $38.03B | $35.20B | $34.31B | $33.79B |
| D&A | $924.00M | $886.00M | $863.00M | $884.00M | $890.00M | $878.00M |
| Operating Income | $5.36B | $4.80B | $4.25B | $4.21B | $4.16B | $4.13B |
| Interest Expense | - | - | $399.00M | $391.00M | $431.00M | $489.00M |
| Income Tax | $893.00M | $758.00M | $669.00M | $646.00M | $616.00M | $571.00M |
| Net Income | $4.21B | $3.78B | $3.31B | $3.39B | $3.26B | $3.17B |
| EPS - Basic | $15.65 | $13.81 | $12.14 | $12.31 | $11.61 | $11.04 |
| EPS - Diluted | $15.45 | $13.63 | $12.02 | $12.19 | $11.55 | $11.00 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.33B | $1.70B | $1.91B | $1.24B | $1.60B | $2.82B |
| Accounts Receivable | $2.41B | $2.98B | $3.00B | $3.01B | $3.04B | $3.16B |
| Inventory | $9.23B | $9.72B | $8.58B | $6.32B | $5.34B | $5.75B |
| Accounts Payable | $2.68B | $3.34B | $3.10B | $3.40B | $3.17B | $2.95B |
| Current Assets | $24.25B | $24.39B | $23.61B | $21.06B | $19.99B | $21.54B |
| Total Assets | $57.25B | $55.88B | $54.81B | $51.59B | $50.07B | $51.31B |
| Current Liabilities | $16.80B | $17.82B | $16.43B | $15.34B | $13.98B | $15.96B |
| Long-term Debt | $7.01B | $7.26B | $8.75B | $9.24B | $10.49B | $9.99B |
| Total Liabilities | - | - | - | - | - | - |
| Stockholders' Equity | $25.62B | $22.06B | $21.30B | $18.57B | $17.64B | $15.66B |
| Retained Earnings | $44.08B | $41.49B | $39.27B | $37.40B | $35.42B | $33.50B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $5.12B | $4.11B | $4.71B | $4.58B | $4.27B | $3.86B |
| Investing Cash Flow | ($1.28B) | ($953.00M) | ($941.00M) | ($1.49B) | ($882.00M) | ($974.00M) |
| Financing Cash Flow | ($3.19B) | ($3.37B) | ($3.09B) | ($3.47B) | ($4.59B) | ($903.00M) |
| CapEx | $1.16B | $916.00M | $904.00M | $1.11B | $887.00M | $967.00M |
| Free Cash Flow | $3.96B | $3.20B | $3.81B | $3.46B | $3.38B | $2.89B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 10.2% | 10.1% | 10.0% | 10.7% | 10.8% | 10.9% |
| EBITDA margin | 12.0% | 11.9% | 12.1% | 12.9% | 13.1% | 13.2% |
| Net margin | 8.0% | 7.9% | 7.8% | 8.6% | 8.5% | 8.4% |
| Free cash flow margin | 7.5% | 6.7% | 9.0% | 8.8% | 8.8% | 7.6% |
| FCF / Net income | 0.94 | 0.85 | 1.15 | 1.02 | 1.04 | 0.91 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 4.9% | 5.4% | 5.7% | 6.1% | 5.8% | 5.8% |
| Effective tax rate | 17.5% | 16.7% | 16.8% | 16.0% | 15.9% | 15.3% |
| Return on assets | 7.4% | 6.8% | 6.0% | 6.6% | 6.5% | 6.2% |
| Return on equity | 16.4% | 17.1% | 15.6% | 18.3% | 18.5% | 20.2% |
| Return on invested capital | 13.5% | 13.6% | 11.8% | 12.7% | 12.4% | 13.6% |
| Liquidity | ||||||
| Current ratio | 1.44 | 1.37 | 1.44 | 1.37 | 1.43 | 1.35 |
| Quick ratio | 0.89 | 0.82 | 0.92 | 0.96 | 1.05 | 0.99 |
| Cash ratio | 0.14 | 0.10 | 0.12 | 0.08 | 0.11 | 0.18 |
| Leverage | ||||||
| Debt / Equity | 0.27 | 0.33 | 0.41 | 0.50 | 0.59 | 0.64 |
| Debt / Assets | 0.12 | 0.13 | 0.16 | 0.18 | 0.21 | 0.19 |
| Debt / EBITDA | 1.12 | 1.28 | 1.71 | 1.81 | 2.08 | 1.99 |
| Interest coverage | - | - | 10.6x | 10.8x | 9.7x | 8.5x |
| Equity multiplier | 2.23 | 2.53 | 2.57 | 2.78 | 2.84 | 3.28 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 0.92 | 0.85 | 0.77 | 0.76 | 0.77 | 0.74 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 17d | 23d | 26d | 28d | 29d | 30d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 21.8x | 19.3x | 21.6x | 20.4x | 18.0x | 13.5x |
| P / B | 3.6x | 3.3x | 3.4x | 3.7x | 3.3x | 2.7x |
| P / S | 1.7x | 1.5x | 1.7x | 1.8x | 1.5x | 1.1x |
| EV / EBITDA | 15.3x | 13.8x | 15.4x | 15.1x | 13.4x | 10.0x |
| Growth | ||||||
| Revenue growth (YoY) | 10.1% | 12.9% | 7.3% | 2.4% | 1.4% | -3.6% |
| Revenue CAGR (3y) | 10.1% | 7.4% | 3.7% | 0.0% | 2.1% | 7.0% |
| Revenue CAGR (5y) | 6.7% | 3.9% | 3.2% | 4.9% | 4.2% | 3.8% |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 11.7% | 13.0% | 0.8% | 1.2% | 0.7% | -11.1% |
| Net income growth (YoY) | 11.3% | 14.1% | -2.2% | 4.1% | 2.8% | -9.1% |
| EPS growth (YoY) | 13.4% | 13.4% | -1.4% | 5.5% | 5.0% | -8.2% |
| EPS CAGR (3y) | 8.2% | 5.7% | 3.0% | 0.6% | 1.1% | 4.8% |
| EPS CAGR (5y) | 7.0% | 2.6% | 1.5% | 5.0% | 3.9% | 3.9% |
| FCF growth (YoY) | 23.9% | -16.0% | 9.8% | 2.4% | 17.1% | 0.1% |
| FCF CAGR (5y) | 6.5% | 2.0% | 9.1% | 0.1% | 13.4% | 8.4% |
| Book value growth (YoY) | 16.1% | 3.6% | 14.7% | 5.3% | 12.6% | 15.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$52.55B totalMarine Systems$16.72B · 31.8%
Technologies$13.47B · 25.6%
Aerospace$13.11B · 24.9%
Combat Systems$9.25B · 17.6%
Product / service
$105.10B totalProduct$33.02B · 31.4%
Service$19.53B · 18.6%
Nuclear Powered Submarines$12.61B · 12.0%
Aircraft Manufacturingand Completions$9.41B · 9.0%
Information Technology Services$9.06B · 8.6%
Militaryvehicles$4.97B · 4.7%
C5 ISRSolutions$4.41B · 4.2%
Aircraft Services$3.70B · 3.5%
Weapons Systemsand Munitions$3.10B · 3.0%
Surfaceships$2.93B · 2.8%
Repairand Other Services$1.18B · 1.1%
Engineeringand Other Services$1.17B · 1.1%
Geographic
$102.51B totalNorth America$44.56B · 43.5%
US$43.31B · 42.3%
Non Us$5.40B · 5.3%
Europe$3.54B · 3.5%
Other Africa Middle East$2.02B · 2.0%
Asia Pacific$2.00B · 2.0%
Other North America$1.25B · 1.2%
South America$432.00M · 0.4%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
8/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Ship & Boat Building & Repairing
Comparing GENERAL DYNAMICS CORP against the 5 most active filers in the same SIC group.
Dividends
$6.09/share trailing 12 months · +5.7% YoY
| Ex-date | Per share |
|---|---|
| Apr 10, 2026 | $1.5900 |
| Jan 16, 2026 | $1.5000 |
| Oct 10, 2025 | $1.5000 |
| Jul 3, 2025 | $1.5000 |
| Apr 11, 2025 | $1.5000 |
| Jan 17, 2025 | $1.4200 |
| Oct 11, 2024 | $1.4200 |
| Jul 5, 2024 | $1.4200 |
| Apr 11, 2024 | $1.4200 |
| Jan 18, 2024 | $1.3200 |
| Oct 5, 2023 | $1.3200 |
| Jul 6, 2023 | $1.3200 |
| Apr 13, 2023 | $1.3200 |
| Jan 19, 2023 | $1.2600 |
| Oct 6, 2022 | $1.2600 |
| Jun 30, 2022 | $1.2600 |
| Apr 7, 2022 | $1.2600 |
| Jan 13, 2022 | $1.1900 |
| Oct 7, 2021 | $1.1900 |
| Jul 1, 2021 | $1.1900 |
| Apr 8, 2021 | $1.1900 |
| Jan 14, 2021 | $1.1000 |
| Oct 8, 2020 | $1.1000 |
| Jul 1, 2020 | $1.1000 |