General Dynamics Corporation (GD) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 14, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Apr 29, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the GD SEC filings page.
General Dynamics Corporation (GD) reported $53.8B in revenue over the twelve months to Apr 5, 2026, up 9.3% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
The business is converting faster growth into cash while steadily reducing debt intensity, though reinvestment remains meaningful.
From FY2024 to FY2025, revenue increased10.1% while operating margin held near10.2% , showing expansion without broad margin sacrifice. Operating cash flow and free cash flow both grew faster than capital spending over the same period, indicating that improved earnings were translating into cash even as reinvestment increased.
Debt intensity has steadily declined: debt-to-equity moved from 0.4x in FY2023 to 0.3x in FY2025, making the balance sheet less dependent on debt financing. Liabilities fell to
Inventory climbed through FY2024, then fell from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of General Dynamics Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
General Dynamics Corporation has an operating margin of 10.2%, meaning the company retains $10 of operating profit per $100 of revenue. This strong profitability earns a score of 77/100, reflecting efficient cost management and pricing power. This is up from 10.1% the prior year.
General Dynamics Corporation's revenue grew 10.1% year-over-year to $52.5B, a solid pace of expansion. This earns a growth score of 69/100.
General Dynamics Corporation has a moderate D/E ratio of 0.27. This balance of debt and equity financing earns a leverage score of 53/100.
General Dynamics Corporation's current ratio of 1.44 indicates adequate short-term liquidity, earning a score of 39/100. The company can meet its near-term obligations, though with limited headroom.
General Dynamics Corporation has a free cash flow margin of 7.5%, earning a moderate score of 57/100. The company generates positive cash flow after capital investments, but with room for improvement.
General Dynamics Corporation earns a strong 16.4% return on equity (ROE), meaning it generates $16 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 82/100. This is down from 17.1% the prior year.
General Dynamics Corporation scores 4.17, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
General Dynamics Corporation passes 7 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 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 Corporation 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 Corporation earns $13.32 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 Corporation generated $13.5B in revenue in Q2 2026. This represents an increase of 3.4% from the same quarter a year earlier. Against the prior quarter it is down 6.2%.
General Dynamics Corporation's EBITDA was $1.7B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 8.1% from the same quarter a year earlier. Against the prior quarter it is down 3.1%.
General Dynamics Corporation reported $1.1B in net income in Q2 2026. This represents an increase of 10.9% from the same quarter a year earlier. Against the prior quarter it is down 1.6%.
General Dynamics Corporation earned $4.10 per diluted share (EPS) in Q2 2026. This represents an increase of 9.6% from the same quarter a year earlier.
Cash & Balance Sheet
General Dynamics Corporation generated $2.0B in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 39.4% from the same quarter a year earlier. Against the prior quarter it is up 105.0%.
General Dynamics Corporation held $3.7B in cash against $6.3B in long-term debt as of Q2 2026.
General Dynamics Corporation paid $1.59 per share in dividends in Q2 2026. This represents an increase of 6.0% from the same quarter a year earlier.
Margins & Returns
General Dynamics Corporation's operating margin was 10.5% in Q2 2026, reflecting core business profitability. This is up 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.4 percentage points.
General Dynamics Corporation's net profit margin was 8.3% in Q2 2026, showing the share of revenue converted to profit. This is up 0.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.4 percentage points.
General Dynamics Corporation's ROE was 4.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. That is unchanged from the same quarter a year earlier. Against the prior quarter it is down 0.2 percentage points.
Not reported for Q2 2026.
Capital Allocation
General Dynamics Corporation spent $217.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. Against the prior quarter it is up 486.5%.
General Dynamics Corporation invested $203.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 2.5% from the same quarter a year earlier. Against the prior quarter it is down 66.7%.
Not reported for Q2 2026.
GD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $13.5B+3.4% | $14.4B+7.8% | $12.9B+10.6% | $13.0B+8.9% | $12.2B+13.9% | $13.3B+26.2% | $11.7B+15.0% | $12.0B+21.2% |
| SG&A Expenses | $723.0M+12.3% | $689.0M+4.1% | $637.0M+0.3% | $644.0M0.0% | $625.0M-0.3% | $662.0M+10.1% | $635.0M+5.0% | $644.0M+9.9% |
| Operating Income | $1.4B+8.8% | $1.5B+2.0% | $1.3B+12.7% | $1.3B+12.9% | $1.3B+22.4% | $1.4B+34.6% | $1.2B+22.8% | $1.2B+23.2% |
| EBITDA | $1.7B+8.1% | $1.7B+2.5% | $1.6B+11.3% | $1.5B+11.3% | $1.5B+19.6% | $1.7B+32.7% | $1.4B+20.9% | $1.4B+20.4% |
| Interest Expense | -$69.0M+21.6% | $653.0M+1.9% | -$74.0M+9.8% | -$88.0M-4.8% | -$89.0M-8.5% | $641.0M+854.1% | -$82.0M+7.9% | -$84.0M+7.7% |
| Income Tax | $244.0M+11.9% | $256.0M+16.4% | $213.0M+15.8% | $218.0M+17.8% | $206.0M+21.9% | $220.0M+41.9% | $184.0M+29.6% | $185.0M+23.3% |
| Net Income | $1.1B+10.9% | $1.1B-0.4% | $1.1B+13.9% | $1.0B+12.0% | $994.0M+24.4% | $1.1B+37.3% | $930.0M+25.0% | $905.0M+24.0% |
| EPS (Basic) | $4.16+10.1% | N/A | $3.93+15.9% | $3.78+14.5% | $3.69+26.4% | N/A | $3.39+24.6% | $3.30+24.1% |
| EPS (Diluted) | $4.10+9.6% | N/A | $3.88+15.8% | $3.74+14.7% | $3.66+27.1% | N/A | $3.35+24.1% | $3.26+23.5% |
| Diluted Shares (Avg) | 274M+1.2% | N/A | 273M-1.9% | 271M-2.4% | 272M-1.9% | N/A | 278M+1.0% | 278M+0.4% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
GD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $59.0B+3.8% | $57.2B+2.4% | $57.6B+3.1% | $56.9B+1.8% | $57.2B+2.4% | $55.9B+4.4% | $55.9B+6.3% | $55.9B+7.3% |
| Current Assets | $26.1B+3.9% | $24.2B-0.6% | $25.9B+0.4% | $25.1B+3.1% | $25.1B+3.8% | $24.4B+7.1% | $25.7B+18.0% | $24.3B+12.6% |
| Cash & Equivalents | $3.7B+139.9% | $2.3B+37.5% | $2.5B+19.9% | $1.5B+11.8% | $1.2B+19.9% | $1.7B+25.5% | $2.1B+82.1% | $1.4B-33.2% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $9.2B-7.2% | $9.2B-5.1% | $9.8B-3.2% | $9.9B+2.1% | $9.8B+2.4% | $9.7B+17.4% | $10.1B+32.7% | $9.7B+38.3% |
| Accounts Receivable | $2.3B-37.6% | $2.4B-19.2% | $3.3B+4.4% | $3.6B+14.6% | $3.3B+5.6% | $3.0B-4.9% | $3.2B-0.1% | $3.2B+7.4% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $21.0B+0.4% | $21.0B+2.2% | $20.9B+0.5% | $20.9B+2.1% | $20.6B+0.8% | $20.6B+0.8% | $20.8B+1.5% | $20.5B+0.3% |
| Total Liabilities | $33.0B-1.1% | $31.6B-6.5% | $33.2B+0.8% | $33.3B-1.6% | $35.0B+1.6% | $33.8B+0.7% | $32.9B-0.5% | $33.8B+2.5% |
| Current Liabilities | $18.8B+2.4% | $16.8B-5.8% | $18.5B-5.6% | $18.4B+0.7% | $18.8B+11.7% | $17.8B+11.7% | $19.6B+24.7% | $18.3B+17.9% |
| Non-Current Liabilities | $14.1B-5.4% | $14.8B-7.3% | $14.7B-0.5% | $14.9B-1.5% | $15.6B-8.5% | $16.0B-9.2% | $14.8B-15.0% | $15.1B-13.6% |
| Long-Term Debt | $6.3B-16.6% | $7.0B-3.5% | $7.0B-3.5% | $7.5B+3.5% | $7.3B-17.0% | $7.3B-21.5% | $7.3B-21.5% | $7.3B-21.5% |
| Total Equity | $26.1B+10.6% | $25.6B+16.1% | $24.4B+6.4% | $23.6B+7.0% | $22.2B+3.8% | $22.1B+10.6% | $23.0B+17.9% | $22.0B+15.5% |
| Retained Earnings | $44.8B+4.9% | $44.1B+6.3% | $43.3B+6.4% | $42.7B+6.2% | $42.1B+6.1% | $41.5B+7.4% | $40.7B+6.8% | $40.2B+6.4% |
GD Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.2B+34.9% | $1.6B-27.7% | $2.1B+48.9% | $1.6B+96.3% | -$148.0M+46.8% | $2.2B+63.5% | $1.4B+93.7% | $814.0M-44.3% |
| Depreciation & Amortization | $232.0M+4.0% | $252.0M+5.0% | $226.0M+3.7% | $223.0M+2.8% | $223.0M+5.7% | $240.0M+22.4% | $218.0M+11.8% | $217.0M+7.4% |
| Stock-Based Compensation | $40.0M | N/A | N/A | N/A | $34.0M0.0% | N/A | N/A | N/A |
| Capital Expenditures | $203.0M+2.5% | $609.0M+71.5% | $212.0M+5.5% | $198.0M-1.5% | $142.0M-10.7% | $355.0M+56.4% | $201.0M-5.2% | $201.0M+24.8% |
| Free Cash Flow | $2.0B+39.4% | $952.0M-47.3% | $1.9B+56.1% | $1.4B+128.4% | -$290.0M+33.6% | $1.8B+65.0% | $1.2B+134.1% | $613.0M-52.9% |
| Investing Cash Flow | -$202.0M-134.9% | -$862.0M-136.2% | -$206.0M+26.7% | -$86.0M+31.2% | -$130.0M+28.6% | -$365.0M-78.9% | -$281.0M-31.3% | -$125.0M+34.2% |
| Financing Cash Flow | -$629.0M+48.8% | -$884.0M+59.7% | -$903.0M-128.6% | -$1.2B-239.2% | -$175.0M+57.9% | -$2.2B-139.5% | -$395.0M+71.8% | -$362.0M+23.8% |
| Dividends Paid | $405.0M+0.7% | $405.0M+4.1% | $403.0M+3.3% | $402.0M+3.3% | $383.0M+6.1% | $389.0M+7.2% | $390.0M+8.3% | $389.0M+12.8% |
| Share Buybacks | $217.0M | $37.0M-97.2% | $0-100.0% | $0-100.0% | $600.0M+471.4% | $1.3B+2253.6% | $44.0M-84.7% | $34.0M-62.2% |
GD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 10.5%+0.5pp | 10.1%-0.6pp | 10.3%+0.2pp | 10.0%+0.4pp | 10.4%+0.7pp | 10.7%+0.7pp | 10.1%+0.6pp | 9.7%+0.2pp |
| Net Margin | 8.3%+0.6pp | 8.0%-0.7pp | 8.2%+0.2pp | 7.8%+0.2pp | 8.1%+0.7pp | 8.6%+0.7pp | 8.0%+0.6pp | 7.6%+0.2pp |
| Return on Equity | 4.3%0.0pp | 4.5%-0.7pp | 4.3%+0.3pp | 4.3%+0.2pp | 4.5%+0.7pp | 5.2%+1.0pp | 4.0%+0.2pp | 4.1%+0.3pp |
| Return on Assets | 1.9%+0.1pp | 2.0%-0.1pp | 1.8%+0.2pp | 1.8%+0.2pp | 1.7%+0.3pp | 2.1%+0.5pp | 1.7%+0.2pp | 1.6%+0.2pp |
| Current Ratio | 1.380.0x | 1.44+0.1x | 1.40+0.1x | 1.360.0x | 1.34-0.1x | 1.37-0.1x | 1.32-0.1x | 1.33-0.1x |
| Debt-to-Equity | 0.24-0.1x | 0.27-0.1x | 0.290.0x | 0.320.0x | 0.33-0.1x | 0.33-0.1x | 0.32-0.2x | 0.33-0.2x |
| Asset Turnover | 0.230.0x | 0.250.0x | 0.220.0x | 0.230.0x | 0.210.0x | 0.240.0x | 0.210.0x | 0.210.0x |
| FCF Margin | 14.5%+3.7pp | 6.6%-6.9pp | 14.7%+4.3pp | 10.7%+5.6pp | -2.4%+1.7pp | 13.5%+3.2pp | 10.4%+5.3pp | 5.1%-8.1pp |
Not reported in any period shown, so not listed: Gross Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| General Dynamics Corporation GD | FY2025 | $52.5B | $4.2B | 8.0% | $89.9B | 63/100 |
| Northrop Grumman Corp. NOC | FY2025 | $42.0B | $4.2B | 10.0% | $68.9B | 49/100 |
| TransDigm Group Incorporated TDG | FY2025 | $8.8B | $2.1B | 23.5% | $61.9B | 73/100 |
| Lockheed Martin Corp. LMT | FY2025 | $75.0B | $5.0B | 6.7% | $118.1B | 56/100 |
| Howmet Aerospace Inc. HWM | FY2025 | $8.3B | $1.5B | 18.3% | $88.1B | 71/100 |
| Boeing Company BA | FY2025 | $89.5B | $2.2B | 2.5% | $149.8B | 27/100 |
Where General Dynamics Corporation Ranks
Frequently Asked Questions
What is General Dynamics Corporation's annual revenue?
General Dynamics Corporation (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 Corporation's revenue growing?
General Dynamics Corporation (GD) revenue grew by 10.1% year-over-year, from $47.7B to $52.5B in fiscal year 2025.
Is General Dynamics Corporation profitable?
Yes, General Dynamics Corporation (GD) reported a net income of $4.2B in fiscal year 2025, with a net profit margin of 8.0%.
What is General Dynamics Corporation's EBITDA?
General Dynamics Corporation (GD) had EBITDA of $6.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does General Dynamics Corporation have?
As of fiscal year 2025, General Dynamics Corporation (GD) had $2.3B in cash and equivalents against $7.0B in long-term debt.
What is General Dynamics Corporation's operating margin?
General Dynamics Corporation (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 Corporation's net profit margin?
General Dynamics Corporation (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 Corporation's return on equity (ROE)?
General Dynamics Corporation (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 Corporation's free cash flow?
General Dynamics Corporation (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 Corporation's operating cash flow?
General Dynamics Corporation (GD) generated $5.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are General Dynamics Corporation's total assets?
General Dynamics Corporation (GD) had $57.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are General Dynamics Corporation's capital expenditures?
General Dynamics Corporation (GD) invested $1.2B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is General Dynamics Corporation's current ratio?
General Dynamics Corporation (GD) had a current ratio of 1.44 as of fiscal year 2025, which is considered adequate.
What is General Dynamics Corporation's debt-to-equity ratio?
General Dynamics Corporation (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 Corporation's return on assets (ROA)?
General Dynamics Corporation (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 Corporation's P/E ratio?
General Dynamics Corporation (GD) trades at 20.7x earnings, its market capitalization divided by net income of $4.3B net income, trailing 12 months to April 5, 2026. The market capitalization is $89.9B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is General Dynamics Corporation's price-to-sales ratio?
General Dynamics Corporation (GD) trades at 1.7x sales, its market capitalization divided by revenue of $53.8B revenue, trailing 12 months to April 5, 2026. The market capitalization is $89.9B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is General Dynamics Corporation's Altman Z-Score?
General Dynamics Corporation (GD) has an Altman Z-Score of 4.17, 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 Corporation's Piotroski F-Score?
General Dynamics Corporation (GD) has a Piotroski F-Score of 7 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are General Dynamics Corporation's earnings high quality?
General Dynamics Corporation (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 Corporation cover its interest payments?
General Dynamics Corporation (GD) has an interest coverage ratio of 13.32x, 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 Corporation?
General Dynamics Corporation (GD) scores 63 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.