This page shows General Dynamics Corp (GD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
General Dynamics Corp has an operating margin of 10.2%, meaning the company retains $10 of operating profit per $100 of revenue. This results in a moderate score of 45/100, indicating healthy but not exceptional operating efficiency. This is up from 10.1% the prior year.
General Dynamics Corp's revenue grew 10.1% year-over-year to $52.5B, a solid pace of expansion. This earns a growth score of 50/100.
General Dynamics Corp carries a low D/E ratio of 0.27, meaning only $0.27 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 96/100, indicating a strong balance sheet with room for future borrowing.
General Dynamics Corp's current ratio of 1.44 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 24/100, which could limit financial flexibility.
General Dynamics Corp has a free cash flow margin of 7.5%, earning a moderate score of 44/100. The company generates positive cash flow after capital investments, but with room for improvement.
General Dynamics Corp's ROE of 16.4% shows moderate profitability relative to equity, earning a score of 48/100. This is down from 17.1% the prior year.
General Dynamics Corp scores 4.27, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
General Dynamics Corp passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, General Dynamics Corp generates $1.22 in operating cash flow ($5.1B OCF vs $4.2B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
General Dynamics Corp earns $13.3 in operating income for every $1 of interest expense ($5.4B vs $402.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
General Dynamics Corp generated $52.5B in revenue in fiscal year 2025. This represents an increase of 10.1% from the prior year.
General Dynamics Corp's EBITDA was $6.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 10.5% from the prior year.
General Dynamics Corp reported $4.2B in net income in fiscal year 2025. This represents an increase of 11.3% from the prior year.
General Dynamics Corp earned $15.45 per diluted share (EPS) in fiscal year 2025. This represents an increase of 13.4% from the prior year.
Cash & Balance Sheet
General Dynamics Corp generated $4.0B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 23.9% from the prior year.
General Dynamics Corp held $2.3B in cash against $7.0B in long-term debt as of fiscal year 2025.
General Dynamics Corp had 270M shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Margins & Returns
General Dynamics Corp's operating margin was 10.2% in fiscal year 2025, reflecting core business profitability. This is up 0.1 percentage points from the prior year.
General Dynamics Corp's net profit margin was 8.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.1 percentage points from the prior year.
General Dynamics Corp's ROE was 16.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.7 percentage points from the prior year.
Capital Allocation
General Dynamics Corp spent $637.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 57.6% from the prior year.
General Dynamics Corp invested $1.2B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 26.7% from the prior year.
GD Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $14.4B+11.4% | $12.9B-1.0% | $13.0B+6.7% | $12.2B-8.4% | $13.3B+14.3% | $11.7B-2.5% | $12.0B+11.6% | $10.7B |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $689.0M+8.2% | $637.0M-1.1% | $644.0M+3.0% | $625.0M-5.6% | $662.0M+4.3% | $635.0M-1.4% | $644.0M+2.7% | $627.0M |
| Operating Income | $1.5B+9.1% | $1.3B+2.0% | $1.3B+2.9% | $1.3B-10.9% | $1.4B+20.5% | $1.2B+2.2% | $1.2B+11.6% | $1.0B |
| Interest Expense | $653.0M+982.4% | -$74.0M+15.9% | -$88.0M+1.1% | -$89.0M-113.9% | $641.0M+881.7% | -$82.0M+2.4% | -$84.0M-2.4% | -$82.0M |
| Income Tax | $256.0M+20.2% | $213.0M-2.3% | $218.0M+5.8% | $206.0M-6.4% | $220.0M+19.6% | $184.0M-0.5% | $185.0M+9.5% | $169.0M |
| Net Income | $1.1B+7.9% | $1.1B+4.4% | $1.0B+2.0% | $994.0M-13.4% | $1.1B+23.4% | $930.0M+2.8% | $905.0M+13.3% | $799.0M |
| EPS (Diluted) | N/A | $3.88+3.7% | $3.74+2.2% | $3.66 | N/A | $3.35+2.8% | $3.26+13.2% | $2.88 |
GD Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $57.2B-0.6% | $57.6B+1.2% | $56.9B+0.5% | $56.6B+1.3% | $55.9B0.0% | $55.9B0.0% | $55.9B0.0% | $55.9B |
| Current Assets | $24.2B-6.2% | $25.9B+3.1% | $25.1B-0.2% | $25.1B+3.0% | $24.4B-5.3% | $25.7B+5.9% | $24.3B+0.5% | $24.2B |
| Cash & Equivalents | $2.3B-7.4% | $2.5B+65.5% | $1.5B+22.6% | $1.2B-26.8% | $1.7B-19.2% | $2.1B+54.3% | $1.4B+31.5% | $1.0B |
| Inventory | $9.2B-5.9% | $9.8B-0.8% | $9.9B+0.7% | $9.8B+0.9% | $9.7B-4.1% | $10.1B+4.7% | $9.7B+1.0% | $9.6B |
| Accounts Receivable | $2.4B-27.2% | $3.3B-8.6% | $3.6B+9.7% | $3.3B+10.6% | $3.0B-5.9% | $3.2B+0.4% | $3.2B+1.1% | $3.1B |
| Goodwill | $21.0B+0.7% | $20.9B0.0% | $20.9B+1.2% | $20.6B+0.3% | $20.6B-1.0% | $20.8B+1.5% | $20.5B0.0% | $20.5B |
| Total Liabilities | $31.6B-4.6% | $33.2B-0.4% | $33.3B-3.0% | $34.4B+1.6% | $33.8B+2.8% | $32.9B-2.8% | $33.8B-1.8% | $34.5B |
| Current Liabilities | $16.8B-9.0% | $18.5B+0.5% | $18.4B-2.0% | $18.8B+5.3% | $17.8B-8.9% | $19.6B+7.1% | $18.3B+8.7% | $16.8B |
| Long-Term Debt | $7.0B0.0% | $7.0B-6.7% | $7.5B+3.4% | $7.3B0.0% | $7.3B0.0% | $7.3B+0.1% | $7.3B-17.1% | $8.8B |
| Total Equity | $25.6B+4.9% | $24.4B+3.6% | $23.6B+6.1% | $22.2B+0.7% | $22.1B-4.0% | $23.0B+4.3% | $22.0B+2.9% | $21.4B |
| Retained Earnings | $44.1B+1.7% | $43.3B+1.5% | $42.7B+1.5% | $42.1B+1.4% | $41.5B+1.9% | $40.7B+1.3% | $40.2B+1.3% | $39.7B |
GD Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.6B-26.0% | $2.1B+32.0% | $1.6B+1179.7% | -$148.0M-106.9% | $2.2B+52.5% | $1.4B+74.0% | $814.0M+392.8% | -$278.0M |
| Capital Expenditures | $609.0M+187.3% | $212.0M+7.1% | $198.0M+39.4% | $142.0M-60.0% | $355.0M+76.6% | $201.0M0.0% | $201.0M+26.4% | $159.0M |
| Free Cash Flow | $952.0M-49.8% | $1.9B+35.5% | $1.4B+582.8% | -$290.0M-116.1% | $1.8B+48.6% | $1.2B+98.2% | $613.0M+240.3% | -$437.0M |
| Investing Cash Flow | -$862.0M-318.4% | -$206.0M-139.5% | -$86.0M+33.8% | -$130.0M+64.4% | -$365.0M-29.9% | -$281.0M-124.8% | -$125.0M+31.3% | -$182.0M |
| Financing Cash Flow | -$884.0M+2.1% | -$903.0M+26.5% | -$1.2B-601.7% | -$175.0M+92.0% | -$2.2B-455.9% | -$395.0M-9.1% | -$362.0M+13.0% | -$416.0M |
| Dividends Paid | $405.0M+0.5% | $403.0M+0.2% | $402.0M+5.0% | $383.0M-1.5% | $389.0M-0.3% | $390.0M+0.3% | $389.0M+7.8% | $361.0M |
| Share Buybacks | $37.0M | $0 | $0-100.0% | $600.0M-54.5% | $1.3B+2895.5% | $44.0M+29.4% | $34.0M-67.6% | $105.0M |
GD Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 10.1%-0.2pp | 10.3%+0.3pp | 10.0%-0.4pp | 10.4%-0.3pp | 10.7%+0.6pp | 10.1%+0.5pp | 9.7%0.0pp | 9.7% |
| Net Margin | 8.0%-0.3pp | 8.2%+0.4pp | 7.8%-0.4pp | 8.1%-0.5pp | 8.6%+0.6pp | 8.0%+0.4pp | 7.6%+0.1pp | 7.4% |
| Return on Equity | 4.5%+0.1pp | 4.3%+0.0pp | 4.3%-0.2pp | 4.5%-0.7pp | 5.2%+1.1pp | 4.0%-0.1pp | 4.1%+0.4pp | 3.7% |
| Return on Assets | 2.0%+0.2pp | 1.8%+0.1pp | 1.8%+0.0pp | 1.8%-0.3pp | 2.1%+0.4pp | 1.7%+0.0pp | 1.6%+0.2pp | 1.4% |
| Current Ratio | 1.44+0.0 | 1.40+0.0 | 1.36+0.0 | 1.34-0.0 | 1.37+0.1 | 1.32-0.0 | 1.33-0.1 | 1.44 |
| Debt-to-Equity | 0.27-0.0 | 0.29-0.0 | 0.320.0 | 0.330.0 | 0.33+0.0 | 0.32-0.0 | 0.33-0.1 | 0.41 |
| FCF Margin | 6.6%-8.1pp | 14.7%+4.0pp | 10.7%+13.1pp | -2.4%-15.9pp | 13.5%+3.1pp | 10.4%+5.3pp | 5.1%+9.2pp | -4.1% |
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Frequently Asked Questions
What is General Dynamics Corp's annual revenue?
General Dynamics Corp (GD) reported $52.5B in total revenue for fiscal year 2025. This represents a 10.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is General Dynamics Corp's revenue growing?
General Dynamics Corp (GD) revenue grew by 10.1% year-over-year, from $47.7B to $52.5B in fiscal year 2025.
Is General Dynamics Corp profitable?
Yes, General Dynamics Corp (GD) reported a net income of $4.2B in fiscal year 2025, with a net profit margin of 8.0%.
What is General Dynamics Corp's EBITDA?
General Dynamics Corp (GD) had EBITDA of $6.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does General Dynamics Corp have?
As of fiscal year 2025, General Dynamics Corp (GD) had $2.3B in cash and equivalents against $7.0B in long-term debt.
What is General Dynamics Corp's operating margin?
General Dynamics Corp (GD) had an operating margin of 10.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is General Dynamics Corp's net profit margin?
General Dynamics Corp (GD) had a net profit margin of 8.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is General Dynamics Corp's return on equity (ROE)?
General Dynamics Corp (GD) has a return on equity of 16.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is General Dynamics Corp's free cash flow?
General Dynamics Corp (GD) generated $4.0B in free cash flow during fiscal year 2025. This represents a 23.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is General Dynamics Corp's operating cash flow?
General Dynamics Corp (GD) generated $5.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are General Dynamics Corp's total assets?
General Dynamics Corp (GD) had $57.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are General Dynamics Corp's capital expenditures?
General Dynamics Corp (GD) invested $1.2B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is General Dynamics Corp's current ratio?
General Dynamics Corp (GD) had a current ratio of 1.44 as of fiscal year 2025, which is considered adequate.
What is General Dynamics Corp's debt-to-equity ratio?
General Dynamics Corp (GD) had a debt-to-equity ratio of 0.27 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is General Dynamics Corp's return on assets (ROA)?
General Dynamics Corp (GD) had a return on assets of 7.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is General Dynamics Corp's Altman Z-Score?
General Dynamics Corp (GD) has an Altman Z-Score of 4.27, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is General Dynamics Corp's Piotroski F-Score?
General Dynamics Corp (GD) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are General Dynamics Corp's earnings high quality?
General Dynamics Corp (GD) has an earnings quality ratio of 1.22x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can General Dynamics Corp cover its interest payments?
General Dynamics Corp (GD) has an interest coverage ratio of 13.3x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is General Dynamics Corp?
General Dynamics Corp (GD) scores 51 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.