General Dynamics (GD) Financials

$278.33 +3.13 (+1.14%)

Closing price 03:59 PM Eastern

Extended Trading

$278.70 +0.38 (+0.13%)

As of 07:44 PM Eastern

Annual Income Statements for General Dynamics

This table shows General Dynamics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	3,782	3,315	3,390	3,257	3,167	3,484	3,345	2,912	2,572	3,036
Consolidated Net Income / (Loss)	3,782	3,315	3,390	3,257	3,167	3,484	3,345	2,912	2,572	3,036
Net Income / (Loss) Continuing Operations	3,782	3,315	3,390	3,257	3,167	3,484	3,358	2,912	2,679	3,036
Total Pre-Tax Income	4,540	3,984	4,036	3,873	3,738	4,202	4,085	4,077	3,656	4,219
Total Operating Income	4,796	4,245	4,211	4,163	4,133	4,570	4,394	4,236	3,744	4,295
Total Gross Profit	7,364	6,672	6,622	6,408	6,325	6,987	6,657	6,242	5,665	6,232
Total Revenue	47,716	42,272	39,407	38,469	37,925	39,350	36,193	30,973	30,561	31,781
Operating Revenue	47,716	42,272	39,407	38,469	37,925	39,350	36,193	30,973	30,561	31,781
Total Cost of Revenue	40,352	35,600	32,785	32,061	31,600	32,363	29,536	24,731	24,896	25,549
Operating Cost of Revenue	40,352	35,600	32,785	32,061	31,600	32,363	29,536	24,731	24,896	25,549
Total Operating Expenses	2,568	2,427	2,411	2,245	2,192	2,417	2,263	2,006	1,921	1,937
Selling, General & Admin Expense	2,568	2,427	2,411	2,245	2,192	2,417	2,263	2,006	1,921	1,937
Total Other Income / (Expense), net	-256	-261	-175	-290	-395	-368	-309	-159	-88	-76
Interest Expense	324	343	364	424	477	460	356	103	91	83
Other Income / (Expense), net	68	82	189	134	82	92	47	-56	3.00	7.00
Income Tax Expense	758	669	646	616	571	718	727	1,165	977	1,183
Basic Earnings per Share	$13.81	$12.14	$12.31	$11.61	$11.04	$12.09	$11.33	$9.73	$8.79	$9.45
Weighted Average Basic Shares Outstanding	270.35M	273.98M	274.43M	277.70M	286.26M	289.63M	295.26M	299.17M	265.20M	321.31M
Diluted Earnings per Share	$13.63	$12.02	$12.19	$11.55	$11.00	$11.98	$11.18	$9.56	$8.64	$9.29
Weighted Average Diluted Shares Outstanding	270.35M	273.98M	274.43M	277.70M	286.26M	289.63M	295.26M	299.17M	265.20M	321.31M
Weighted Average Basic & Diluted Shares Outstanding	270.35M	273.98M	274.43M	277.70M	286.26M	289.63M	295.26M	299.17M	265.20M	321.31M

This table shows General Dynamics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/30/2025	12/31/2024	9/29/2024	6/30/2024	3/31/2024	12/31/2023	10/1/2023	7/2/2023	4/2/2023	12/31/2022	10/2/2022
Net Income / (Loss) Attributable to Common Shareholders	994	1,148	930	905	799	1,005	836	744	730	992	902
Consolidated Net Income / (Loss)	994	1,148	930	905	799	1,005	836	744	730	992	902
Net Income / (Loss) Continuing Operations	994	1,148	930	905	799	1,005	836	744	730	992	902
Total Pre-Tax Income	1,200	1,368	1,114	1,090	968	1,227	991	886	880	1,211	1,053
Total Operating Income	1,268	1,423	1,181	1,156	1,036	1,288	1,057	962	938	1,227	1,098
Total Gross Profit	1,893	2,085	1,816	1,800	1,663	1,923	1,658	1,567	1,524	1,831	1,665
Total Revenue	12,223	13,338	11,671	11,976	10,731	11,668	10,571	10,152	9,881	10,851	9,975
Operating Revenue	12,223	13,338	11,671	11,976	10,731	11,668	10,571	10,152	9,881	10,851	9,975
Total Cost of Revenue	10,330	11,253	9,855	10,176	9,068	9,745	8,913	8,585	8,357	9,020	8,310
Operating Cost of Revenue	10,330	11,253	9,855	10,176	9,068	9,745	8,913	8,585	8,357	9,020	8,310
Total Operating Expenses	625	662	635	644	627	635	601	605	586	604	567
Selling, General & Admin Expense	625	662	635	644	627	635	601	605	586	604	567
Total Other Income / (Expense), net	-68	-55	-67	-66	-68	-61	-66	-76	-58	-16	-45
Interest Expense	89	76	82	84	82	78	85	89	91	85	86
Other Income / (Expense), net	21	21	15	18	14	17	19	13	33	69	41
Income Tax Expense	206	220	184	185	169	222	155	142	150	219	151
Basic Earnings per Share	$3.69	$4.20	$3.39	$3.30	$2.92	$3.69	$3.07	$2.72	$2.66	$3.62	$3.29
Weighted Average Basic Shares Outstanding	268.40M	270.35M	274.97M	274.78M	274.36M	273.98M	272.90M	273.04M	274.34M	274.43M	274.55M
Diluted Earnings per Share	$3.66	$4.14	$3.35	$3.26	$2.88	$3.64	$3.04	$2.70	$2.64	$3.57	$3.26
Weighted Average Diluted Shares Outstanding	268.40M	270.35M	274.97M	274.78M	274.36M	273.98M	272.90M	273.04M	274.34M	274.43M	274.55M
Weighted Average Basic & Diluted Shares Outstanding	268.40M	270.35M	274.97M	274.78M	274.36M	273.98M	272.90M	273.04M	274.34M	274.43M	274.55M
Cash Dividends to Common per Share	$1.50	-	$1.42	$1.42	$1.42	-	$1.32	$1.32	$1.32	-	$1.26

This table details how cash moves in and out of General Dynamics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-216	671	-361	-1,221	1,922	-61	-2,020	649	-451	-1,603
Net Cash From Operating Activities	4,112	4,710	4,579	4,271	3,858	2,981	3,148	3,876	2,163	2,607
Net Cash From Continuing Operating Activities	4,112	4,710	4,579	4,271	3,858	2,981	3,148	3,876	2,163	2,607
Net Income / (Loss) Continuing Operations	3,782	3,315	3,390	3,257	3,167	3,484	3,345	2,912	2,679	3,036
Consolidated Net Income / (Loss)	3,782	3,315	3,390	3,257	3,167	3,484	3,345	2,912	2,572	3,036
Depreciation Expense	644	608	586	568	523	466	436	362	365	365
Amortization Expense	242	255	298	322	355	363	327	79	88	116
Non-Cash Adjustments To Reconcile Net Income	183	181	165	-284	128	133	-647	123	95	98
Changes in Operating Assets and Liabilities, net	-739	351	140	408	-315	-1,465	-313	400	-1,064	-1,008
Net Cash From Investing Activities	-953	-941	-1,489	-882	-974	-994	-10,234	-788	-391	200
Net Cash From Continuing Investing Activities	-953	-941	-1,489	-882	-974	-994	-10,234	-788	-391	200
Purchase of Property, Plant & Equipment	-916	-904	-1,114	-887	-967	-987	-690	-428	-392	-569
Other Investing Activities, net	-37	-37	-375	5.00	-7.00	-7.00	-7.00	-11	50	-17
Net Cash From Financing Activities	-3,369	-3,094	-3,471	-4,590	-903	-1,997	5,086	-2,399	-2,169	-4,367
Net Cash From Continuing Financing Activities	-3,369	-3,094	-3,471	-4,590	-903	-1,997	5,086	-2,399	-2,169	-4,367
Repayment of Debt	-339	-1,232	-873	-4,941	-3,015	-905	-503	-900	-546	-529
Repurchase of Common Equity	-1,501	-434	-1,229	-1,828	-587	-231	-1,769	-1,558	-1,996	-3,233
Payment of Dividends	-1,529	-1,428	-1,369	-1,315	-1,240	-1,152	-1,075	-986	-911	-873
Other Net Changes in Cash	-6.00	-4.00	20	-20	-59	-51	-20	-40	-	-43

This table details how cash moves in and out of General Dynamics' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/30/2025	12/31/2024	9/29/2024	6/30/2024	3/31/2024	12/31/2023	10/1/2023	7/2/2023	4/2/2023	12/31/2022	10/2/2022
Net Change in Cash & Equivalents	-455	-404	739	326	-877	561	198	-884	796	-1,254	273
Net Cash From Operating Activities	-148	2,160	1,416	814	-278	1,196	1,321	731	1,462	669	1,283
Net Cash From Continuing Operating Activities	-148	2,160	1,416	814	-278	1,196	1,321	731	1,462	669	1,283
Net Income / (Loss) Continuing Operations	994	1,148	930	905	799	1,005	836	744	730	992	902
Consolidated Net Income / (Loss)	994	1,148	930	905	799	1,005	836	744	730	992	902
Depreciation Expense	162	175	158	159	152	162	149	148	149	166	142
Amortization Expense	61	65	60	58	59	60	59	59	77	74	77
Non-Cash Adjustments To Reconcile Net Income	-845	46	50	53	34	-403	497	49	38	25	20
Changes in Operating Assets and Liabilities, net	-520	726	218	-361	-1,322	372	-220	-269	468	-588	142
Net Cash From Investing Activities	-130	-365	-281	-125	-182	-333	-204	-214	-190	-491	-633
Net Cash From Continuing Investing Activities	-130	-365	-281	-125	-182	-333	-204	-214	-190	-491	-633
Purchase of Property, Plant & Equipment	-142	-355	-201	-201	-159	-304	-227	-212	-161	-494	-255
Other Investing Activities, net	12	-10	-80	76	-23	-29	23	-2.00	-29	3.00	-378
Net Cash From Financing Activities	-175	-2,196	-395	-362	-416	-302	-917	-1,400	-475	-1,431	-377
Net Cash From Continuing Financing Activities	-175	-2,196	-395	-362	-416	-302	-917	-1,400	-475	-1,431	-377
Repayment of Debt	-782	-489	39	61	50	58	-498	-752	-40	-976	-7.00
Repurchase of Common Equity	-600	-1,318	-44	-34	-105	-	-56	-288	-90	-110	-25
Payment of Dividends	-383	-389	-390	-389	-361	-360	-363	-360	-345	-345	-345
Issuance of Debt	1,590	-	-	-	-	-	-	-	-	-	-
Other Net Changes in Cash	-2.00	-3.00	-1.00	-1.00	-1.00	-	-2.00	-1.00	-1.00	-1.00	-
Cash Interest Paid	42	-	19	168	26	-	29	177	18	-	15
Cash Income Taxes Paid	34	-	173	-81	33	-	166	269	58	-	-202

This table presents General Dynamics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	55,880	54,810	51,585	50,073	51,308	49,349	45,408	35,046	33,172	31,997
Total Current Assets	24,386	23,615	21,063	19,987	21,543	20,288	18,189	18,328	16,534	14,571
Cash & Equivalents	1,697	1,913	1,242	1,603	2,824	902	963	2,983	2,334	2,785
Accounts Receivable	11,225	11,001	11,803	11,539	11,185	11,401	10,335	8,857	7,611	3,446
Inventories, net	9,724	8,578	6,322	5,340	5,745	6,306	5,977	5,303	5,118	3,366
Other Current Assets	1,740	2,123	1,696	1,505	1,789	1,679	914	1,185	1,471	4,974
Plant, Property, & Equipment, net	6,467	6,198	5,900	5,417	5,100	4,475	3,978	3,517	3,477	3,466
Total Noncurrent Assets	25,027	24,997	24,622	24,669	24,665	24,586	23,241	13,201	13,161	13,960
Goodwill	20,556	20,586	20,334	20,098	20,053	19,677	19,594	11,914	11,445	11,443
Intangible Assets	1,520	1,656	1,824	1,978	2,117	2,315	2,585	702	678	763
Other Noncurrent Operating Assets	2,951	2,755	2,464	2,593	2,495	2,594	1,062	585	1,038	1,754
Total Liabilities & Shareholders' Equity	55,880	54,810	51,585	50,073	51,308	49,349	45,408	35,046	33,172	31,997
Total Liabilities	33,817	33,511	33,017	32,432	35,647	35,371	33,676	23,611	22,871	21,259
Total Current Liabilities	17,824	16,432	15,341	13,978	15,964	16,801	14,739	13,099	13,450	12,445
Short-Term Debt	1,502	507	1,253	1,005	3,003	2,920	973	2.00	900	501
Accounts Payable	3,344	3,095	3,398	3,167	2,952	3,162	3,179	3,207	2,538	1,964
Current Deferred Revenue	9,491	9,564	7,436	6,266	6,276	7,148	7,270	6,992	6,827	5,674
Other Current Liabilities	3,487	3,266	3,254	3,540	3,733	3,571	3,317	2,898	3,185	4,306
Total Noncurrent Liabilities	15,993	17,079	17,676	18,454	19,683	18,570	18,937	10,512	9,421	8,814
Long-Term Debt	7,260	8,754	9,243	10,490	9,995	9,010	11,444	3,980	2,988	2,898
Other Noncurrent Operating Liabilities	8,733	8,325	8,433	7,964	9,688	9,560	7,493	6,532	6,433	5,916
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	-	-
Total Equity & Noncontrolling Interests	22,063	21,299	18,568	17,641	15,661	13,978	11,732	11,435	10,301	10,738
Total Preferred & Common Equity	22,063	21,299	18,568	17,641	15,661	13,978	11,732	11,435	10,301	10,738
Total Common Equity	22,063	21,299	18,568	17,641	15,661	13,978	11,732	11,435	10,301	10,738
Common Stock	4,544	4,242	4,038	3,760	3,606	3,521	3,428	3,354	3,301	3,212
Retained Earnings	41,487	39,270	37,403	35,420	33,498	31,633	29,326	26,444	24,543	23,204
Treasury Stock	-22,450	-21,054	-20,721	-19,619	-17,893	-17,358	-17,244	-15,543	-14,156	-12,392
Accumulated Other Comprehensive Income / (Loss)	-1,518	-1,159	-2,152	-1,920	-3,550	-3,818	-3,778	-2,820	-3,387	-3,286

This table presents General Dynamics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/30/2025	12/31/2024	9/29/2024	6/30/2024	3/31/2024	12/31/2023	10/1/2023	7/2/2023	4/2/2023	12/31/2022	10/2/2022
Total Assets	56,580	55,880	57,312	55,442	55,246	54,810	53,525	52,556	52,096	51,585	51,116
Total Current Assets	25,117	24,386	25,743	24,312	24,196	23,615	22,779	21,825	21,588	21,063	21,005
Cash & Equivalents	1,242	1,697	2,101	1,362	1,036	1,913	1,352	1,154	2,038	1,242	2,496
Accounts Receivable	12,433	11,225	12,017	11,720	11,642	11,001	11,585	11,458	11,084	11,803	10,905
Inventories, net	9,816	9,724	10,141	9,686	9,589	8,578	8,282	7,642	7,006	6,322	6,257
Other Current Assets	1,626	1,740	1,484	1,544	1,929	2,123	1,560	1,571	1,460	1,696	1,347
Plant, Property, & Equipment, net	6,461	6,467	6,324	6,276	6,192	6,198	6,013	5,947	5,867	5,900	5,565
Total Noncurrent Assets	25,002	25,027	25,245	24,854	24,858	24,997	24,733	24,784	24,641	24,622	24,546
Goodwill	20,623	20,556	20,757	20,452	20,458	20,586	20,386	20,443	20,386	20,334	20,155
Intangible Assets	1,462	1,520	1,583	1,550	1,594	1,656	1,681	1,732	1,776	1,824	1,921
Other Noncurrent Operating Assets	2,917	2,951	2,905	2,852	2,806	2,755	2,666	2,609	2,479	2,464	2,470
Total Liabilities & Shareholders' Equity	56,580	55,880	57,312	55,442	55,246	54,810	53,525	52,556	52,096	51,585	51,116
Total Liabilities	34,355	33,817	34,339	33,406	33,836	33,511	33,568	33,078	33,009	33,017	33,465
Total Current Liabilities	18,760	17,824	19,557	18,257	16,790	16,432	15,962	15,686	15,484	15,341	15,659
Short-Term Debt	2,349	1,502	2,005	2,004	507	507	7.00	508	1,257	1,253	2,252
Accounts Payable	3,357	3,344	3,290	2,969	3,203	3,095	3,315	3,365	3,248	3,398	3,106
Current Deferred Revenue	9,770	9,491	10,925	10,089	9,969	9,564	9,351	8,628	7,717	7,436	6,661
Other Current Liabilities	3,284	3,487	3,337	3,195	3,111	3,266	3,289	3,185	3,262	3,254	3,640
Total Noncurrent Liabilities	15,595	15,993	14,782	15,149	17,046	17,079	17,606	17,392	17,525	17,676	17,806
Long-Term Debt	7,260	7,260	7,262	7,257	8,752	8,754	9,248	9,247	9,245	9,243	9,239
Other Noncurrent Operating Liabilities	8,335	8,733	7,520	7,892	8,294	8,325	8,358	8,145	8,280	8,433	8,567
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
Total Equity & Noncontrolling Interests	22,225	22,063	22,973	22,036	21,410	21,299	19,957	19,478	19,087	18,568	17,651
Total Preferred & Common Equity	22,225	22,063	22,973	22,036	21,410	21,299	19,957	19,478	19,087	18,568	17,651
Total Common Equity	22,225	22,063	22,973	22,036	21,410	21,299	19,957	19,478	19,087	18,568	17,651
Common Stock	4,546	4,544	4,479	4,407	4,302	4,242	4,153	4,096	4,044	4,038	3,993
Retained Earnings	42,082	41,487	40,730	40,191	39,678	39,270	38,626	38,154	37,769	37,403	36,774
Treasury Stock	-23,034	-22,450	-21,137	-21,128	-21,114	-21,054	-21,124	-21,077	-20,796	-20,721	-20,638
Accumulated Other Comprehensive Income / (Loss)	-1,369	-1,518	-1,099	-1,434	-1,456	-1,159	-1,698	-1,695	-1,930	-2,152	-2,478

This table displays calculated financial ratios and metrics derived from General Dynamics' official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.88%	7.27%	2.44%	1.43%	-3.62%	8.72%	16.85%	1.35%	-3.84%	3.01%
EBITDA Growth	10.79%	-1.78%	1.87%	1.85%	-7.25%	5.52%	12.62%	10.02%	-12.19%	9.10%
EBIT Growth	12.41%	-1.66%	2.40%	1.95%	-9.59%	4.98%	6.24%	11.56%	-12.90%	10.65%
NOPAT Growth	13.11%	-0.14%	1.03%	-0.02%	-7.59%	4.90%	19.38%	10.28%	-11.23%	13.04%
Net Income Growth	14.09%	-2.21%	4.08%	2.84%	-9.10%	4.16%	14.87%	13.22%	-15.28%	19.86%
EPS Growth	13.39%	-1.39%	5.54%	5.00%	-8.18%	7.16%	16.95%	10.65%	-7.00%	18.65%
Operating Cash Flow Growth	-12.70%	2.86%	7.21%	10.71%	29.42%	-5.31%	-18.78%	79.20%	-17.03%	-31.90%
Free Cash Flow Firm Growth	29.81%	-16.65%	80.16%	-32.54%	35.73%	127.58%	-391.84%	9.20%	-27.08%	-31.86%
Invested Capital Growth	1.68%	2.97%	1.05%	6.57%	3.32%	7.85%	86.47%	4.88%	4.43%	0.16%
Revenue Q/Q Growth	3.63%	1.97%	1.44%	-0.49%	-0.76%	1.01%	6.16%	2.05%	-1.51%	-0.75%
EBITDA Q/Q Growth	2.81%	-0.17%	1.36%	-1.43%	0.24%	1.16%	6.44%	6.18%	-8.60%	1.96%
EBIT Q/Q Growth	2.94%	0.21%	1.64%	-1.83%	-0.45%	1.75%	4.94%	6.82%	-9.36%	2.16%
NOPAT Q/Q Growth	3.62%	1.45%	0.19%	-2.67%	1.26%	3.24%	8.08%	2.19%	-8.13%	3.17%
Net Income Q/Q Growth	3.93%	0.39%	1.19%	-1.51%	-0.57%	3.29%	8.89%	2.32%	-9.34%	4.62%
EPS Q/Q Growth	3.81%	0.59%	1.50%	0.00%	0.00%	0.00%	0.00%	-17.94%	-7.20%	40.54%
Operating Cash Flow Q/Q Growth	30.62%	12.60%	-18.12%	-17.08%	4.55%	12.32%	2.37%	45.01%	26.57%	13.35%
Free Cash Flow Firm Q/Q Growth	122.88%	19.38%	3.63%	-54.54%	-11.74%	-14.65%	7.99%	14.49%	160.16%	-23.88%
Invested Capital Q/Q Growth	-3.35%	2.82%	4.41%	4.89%	-2.95%	-4.52%	-6.61%	-9.40%	-8.10%	5.36%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	15.43%	15.78%	16.80%	16.66%	16.68%	17.76%	18.39%	20.15%	18.54%	19.61%
EBITDA Margin	12.05%	12.28%	13.41%	13.48%	13.43%	13.95%	14.38%	14.92%	13.74%	15.05%
Operating Margin	10.05%	10.04%	10.69%	10.82%	10.90%	11.61%	12.14%	13.68%	12.25%	13.51%
EBIT Margin	10.19%	10.24%	11.17%	11.17%	11.11%	11.85%	12.27%	13.50%	12.26%	13.54%
Profit (Net Income) Margin	7.93%	7.84%	8.60%	8.47%	8.35%	8.85%	9.24%	9.40%	8.42%	9.55%
Tax Burden Percent	83.30%	83.21%	83.99%	84.10%	84.72%	82.91%	81.88%	71.43%	70.35%	71.96%
Interest Burden Percent	93.34%	92.07%	91.73%	90.13%	88.68%	90.13%	91.98%	97.54%	97.57%	98.07%
Effective Tax Rate	16.70%	16.79%	16.01%	15.91%	15.28%	17.09%	17.80%	28.57%	26.72%	28.04%
Return on Invested Capital (ROIC)	13.83%	12.51%	12.78%	13.12%	13.78%	15.73%	20.28%	24.91%	23.64%	27.25%
ROIC Less NNEP Spread (ROIC-NNEP)	10.87%	9.89%	11.24%	10.69%	10.62%	13.01%	15.99%	16.02%	7.82%	-64.67%
Return on Net Nonoperating Assets (RNNOA)	3.61%	4.12%	5.95%	6.44%	7.60%	11.38%	8.60%	1.88%	0.81%	-0.34%
Return on Equity (ROE)	17.44%	16.63%	18.72%	19.56%	21.37%	27.10%	28.88%	26.79%	24.45%	26.91%
Cash Return on Invested Capital (CROIC)	12.17%	9.59%	11.74%	6.76%	10.51%	8.17%	-40.09%	20.15%	19.31%	27.09%
Operating Return on Assets (OROA)	8.79%	8.13%	8.66%	8.48%	8.38%	9.84%	11.04%	12.25%	11.50%	12.78%
Return on Assets (ROA)	6.83%	6.23%	6.67%	6.43%	6.29%	7.35%	8.32%	8.54%	7.89%	9.02%
Return on Common Equity (ROCE)	17.44%	16.63%	18.72%	19.56%	21.37%	27.10%	28.88%	26.79%	24.45%	26.91%
Return on Equity Simple (ROE_SIMPLE)	17.14%	15.56%	18.26%	18.46%	20.22%	24.92%	28.51%	25.47%	24.97%	28.27%
Net Operating Profit after Tax (NOPAT)	3,995	3,532	3,537	3,501	3,502	3,789	3,612	3,026	2,743	3,091
NOPAT Margin	8.37%	8.36%	8.98%	9.10%	9.23%	9.63%	9.98%	9.77%	8.98%	9.73%
Net Nonoperating Expense Percent (NNEP)	2.96%	2.62%	1.54%	2.43%	3.16%	2.71%	4.29%	8.90%	15.82%	91.92%
Return On Investment Capital (ROIC_SIMPLE)	12.96%	11.56%	12.17%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	84.57%	84.22%	83.20%	83.34%	83.32%	82.24%	81.61%	79.85%	81.46%	80.39%
SG&A Expenses to Revenue	5.38%	5.74%	6.12%	5.84%	5.78%	6.14%	6.25%	6.48%	6.29%	6.09%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	5.38%	5.74%	6.12%	5.84%	5.78%	6.14%	6.25%	6.48%	6.29%	6.09%
Earnings before Interest and Taxes (EBIT)	4,864	4,327	4,400	4,297	4,215	4,662	4,441	4,180	3,747	4,302
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	5,750	5,190	5,284	5,187	5,093	5,491	5,204	4,621	4,200	4,783
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.27	3.24	3.49	3.14	2.53	3.28	3.49	4.59	4.33	3.36
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.51	1.63	1.65	1.44	1.04	1.17	1.13	1.69	1.46	1.14
Price to Earnings (P/E)	19.06	20.84	19.14	16.99	12.49	13.18	12.24	18.02	17.36	11.88
Dividend Yield	2.13%	2.06%	2.10%	2.36%	3.13%	2.51%	2.63%	1.87%	2.03%	2.36%
Earnings Yield	5.25%	4.80%	5.22%	5.89%	8.01%	7.59%	8.17%	5.55%	5.76%	8.41%
Enterprise Value to Invested Capital (EV/IC)	2.72	2.67	2.66	2.37	1.92	2.28	2.26	4.30	3.90	3.23
Enterprise Value to Revenue (EV/Rev)	1.66	1.81	1.88	1.70	1.31	1.45	1.45	1.73	1.51	1.15
Enterprise Value to EBITDA (EV/EBITDA)	13.76	14.73	14.03	12.57	9.76	10.37	10.07	11.57	11.00	7.67
Enterprise Value to EBIT (EV/EBIT)	16.27	17.67	16.85	15.18	11.80	12.21	11.80	12.79	12.33	8.53
Enterprise Value to NOPAT (EV/NOPAT)	19.81	21.64	20.96	18.63	14.20	15.02	14.50	17.67	16.84	11.87
Enterprise Value to Operating Cash Flow (EV/OCF)	19.24	16.23	16.19	15.27	12.89	19.10	16.64	13.79	21.36	14.07
Enterprise Value to Free Cash Flow (EV/FCFF)	22.52	28.24	22.83	36.17	18.60	28.91	0.00	21.85	20.62	11.94
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.40	0.43	0.57	0.65	0.83	0.85	1.06	0.35	0.38	0.32
Long-Term Debt to Equity	0.33	0.41	0.50	0.59	0.64	0.64	0.98	0.35	0.29	0.27
Financial Leverage	0.33	0.42	0.53	0.60	0.72	0.87	0.54	0.12	0.10	0.01
Leverage Ratio	2.55	2.67	2.81	3.04	3.40	3.69	3.47	3.14	3.10	2.98
Compound Leverage Factor	2.38	2.46	2.58	2.74	3.01	3.32	3.19	3.06	3.02	2.93
Debt to Total Capital	28.43%	30.30%	36.11%	39.45%	45.35%	46.05%	51.42%	25.83%	27.40%	24.04%
Short-Term Debt to Total Capital	4.87%	1.66%	4.31%	3.45%	10.48%	11.27%	4.03%	0.01%	6.34%	3.54%
Long-Term Debt to Total Capital	23.55%	28.65%	31.80%	36.00%	34.88%	34.78%	47.39%	25.82%	21.06%	20.50%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	71.58%	69.70%	63.89%	60.55%	54.65%	53.95%	48.58%	74.17%	72.60%	75.96%
Debt to EBITDA	1.52	1.78	1.99	2.22	2.55	2.17	2.39	0.86	0.93	0.71
Net Debt to EBITDA	1.23	1.42	1.75	1.91	2.00	2.01	2.20	0.22	0.37	0.13
Long-Term Debt to EBITDA	1.26	1.69	1.75	2.02	1.96	1.64	2.20	0.86	0.71	0.61
Debt to NOPAT	2.19	2.62	2.97	3.28	3.71	3.15	3.44	1.32	1.42	1.10
Net Debt to NOPAT	1.77	2.08	2.62	2.83	2.91	2.91	3.17	0.33	0.57	0.20
Long-Term Debt to NOPAT	1.82	2.48	2.61	3.00	2.85	2.38	3.17	1.32	1.09	0.94
Altman Z-Score	3.60	3.43	3.37	3.21	2.72	2.87	2.84	3.85	3.61	3.55
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.37	1.44	1.37	1.43	1.35	1.21	1.23	1.40	1.23	1.17
Quick Ratio	0.73	0.79	0.85	0.94	0.88	0.73	0.77	0.90	0.74	0.50
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	3,514	2,707	3,248	1,803	2,673	1,969	-7,140	2,447	2,240	3,073
Operating Cash Flow to CapEx	448.91%	521.02%	411.04%	481.51%	398.97%	302.03%	456.23%	905.61%	551.79%	458.17%
Free Cash Flow to Firm to Interest Expense	10.85	7.89	8.92	4.25	5.60	4.28	-20.06	23.75	24.62	37.02
Operating Cash Flow to Interest Expense	12.69	13.73	12.58	10.07	8.09	6.48	8.84	37.63	23.77	31.41
Operating Cash Flow Less CapEx to Interest Expense	9.86	11.10	9.52	7.98	6.06	4.33	6.90	33.48	19.46	24.55
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.86	0.79	0.78	0.76	0.75	0.83	0.90	0.91	0.94	0.94
Accounts Receivable Turnover	4.29	3.71	3.38	3.39	3.36	3.62	3.77	3.76	5.53	8.48
Inventory Turnover	4.41	4.78	5.62	5.78	5.24	5.27	5.24	4.75	5.87	7.76
Fixed Asset Turnover	7.54	6.99	6.96	7.32	7.92	9.31	9.66	8.86	8.80	9.35
Accounts Payable Turnover	12.53	10.97	9.99	10.48	10.34	10.21	9.25	8.61	11.06	12.71
Days Sales Outstanding (DSO)	85.01	98.45	108.10	107.80	108.69	100.81	96.77	97.03	66.03	43.05
Days Inventory Outstanding (DIO)	82.77	76.38	64.92	63.10	69.60	69.27	69.70	76.90	62.19	47.05
Days Payable Outstanding (DPO)	29.12	33.29	36.54	34.83	35.31	35.76	39.46	42.39	33.00	28.72
Cash Conversion Cycle (CCC)	138.66	141.55	136.47	136.07	142.97	134.32	127.01	131.54	95.22	61.37
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	29,128	28,647	27,822	27,533	25,835	25,006	23,186	12,434	11,855	11,352
Invested Capital Turnover	1.65	1.50	1.42	1.44	1.49	1.63	2.03	2.55	2.63	2.80
Increase / (Decrease) in Invested Capital	481	825	289	1,698	829	1,820	10,752	579	503	18
Enterprise Value (EV)	79,134	76,441	74,141	65,218	49,723	56,930	52,386	53,464	46,198	36,693
Market Capitalization	72,069	69,093	64,887	55,326	39,549	45,902	40,932	52,465	44,644	36,079
Book Value per Share	$80.24	$78.05	$67.63	$63.18	$54.57	$48.32	$39.62	$38.30	$33.83	$33.97
Tangible Book Value per Share	($0.05)	($3.46)	($13.08)	($15.88)	($22.68)	($27.70)	($35.28)	($3.96)	($5.98)	($4.64)
Total Capital	30,825	30,560	29,064	29,136	28,659	25,908	24,149	15,417	14,189	14,137
Total Debt	8,762	9,261	10,496	11,495	12,998	11,930	12,417	3,982	3,888	3,399
Total Long-Term Debt	7,260	8,754	9,243	10,490	9,995	9,010	11,444	3,980	2,988	2,898
Net Debt	7,065	7,348	9,254	9,892	10,174	11,028	11,454	999	1,554	614
Capital Expenditures (CapEx)	916	904	1,114	887	967	987	690	428	392	569
Debt-free, Cash-free Net Working Capital (DFCFNWC)	6,367	5,777	5,733	5,411	5,758	5,505	3,460	2,248	1,650	-158
Debt-free Net Working Capital (DFNWC)	8,064	7,690	6,975	7,014	8,582	6,407	4,423	5,231	3,984	2,627
Net Working Capital (NWC)	6,562	7,183	5,722	6,009	5,579	3,487	3,450	5,229	3,084	2,126
Net Nonoperating Expense (NNE)	213	217	147	244	335	305	267	114	171	55
Net Nonoperating Obligations (NNO)	7,065	7,348	9,254	9,892	10,174	11,028	11,454	999	1,554	614
Total Depreciation and Amortization (D&A)	886	863	884	890	878	829	763	441	453	481
Debt-free, Cash-free Net Working Capital to Revenue	13.34%	13.67%	14.55%	14.07%	15.18%	13.99%	9.56%	7.26%	5.40%	-0.50%
Debt-free Net Working Capital to Revenue	16.90%	18.19%	17.70%	18.23%	22.63%	16.28%	12.22%	16.89%	13.04%	8.27%
Net Working Capital to Revenue	13.75%	16.99%	14.52%	15.62%	14.71%	8.86%	9.53%	16.88%	10.09%	6.69%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$13.81	$12.14	$12.31	$11.61	$22.08	$12.09	$11.37	$9.73	$10.05	$9.23
Adjusted Weighted Average Basic Shares Outstanding	270.35M	273.98M	274.43M	277.70M	286.26M	289.63M	288.24M	296.93M	302.74M	311.16M
Adjusted Diluted Earnings per Share	$13.63	$12.02	$12.19	$11.55	$22.00	$11.98	$11.22	$9.56	$9.87	$9.08
Adjusted Weighted Average Diluted Shares Outstanding	270.35M	273.98M	274.43M	277.70M	286.26M	289.63M	288.24M	296.93M	302.74M	311.16M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$12.09	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	270.35M	273.98M	274.43M	277.70M	286.26M	289.63M	288.24M	296.93M	302.74M	311.16M
Normalized Net Operating Profit after Tax (NOPAT)	3,995	3,532	3,537	3,501	3,502	3,789	3,612	3,026	2,743	3,091
Normalized NOPAT Margin	8.37%	8.36%	8.98%	9.10%	9.23%	9.63%	9.98%	9.77%	8.98%	9.73%
Pre Tax Income Margin	9.51%	9.42%	10.24%	10.07%	9.86%	10.68%	11.29%	13.16%	11.96%	13.28%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	15.01	12.62	12.09	10.13	8.84	10.13	12.47	40.58	41.18	51.83
NOPAT to Interest Expense	12.33	10.30	9.72	8.26	7.34	8.24	10.15	29.37	30.15	37.24
EBIT Less CapEx to Interest Expense	12.19	9.98	9.03	8.04	6.81	7.99	10.54	36.43	36.87	44.98
NOPAT Less CapEx to Interest Expense	9.50	7.66	6.66	6.16	5.31	6.09	8.21	25.22	25.84	30.38
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	40.43%	43.08%	40.38%	40.37%	39.15%	33.07%	32.14%	33.86%	35.42%	28.75%
Augmented Payout Ratio	80.12%	56.17%	76.64%	96.50%	57.69%	39.70%	85.02%	87.36%	113.02%	135.24%

This table displays calculated financial ratios and metrics derived from General Dynamics' official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/30/2025	12/31/2024	9/29/2024	6/30/2024	3/31/2024	12/31/2023	10/1/2023	7/2/2023	4/2/2023	12/31/2022	10/2/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	13.90%	14.31%	10.41%	17.97%	8.60%	7.53%	5.97%	10.48%	5.21%	5.43%	4.25%
EBITDA Growth	19.90%	10.28%	10.12%	17.68%	5.35%	-0.59%	-5.45%	-3.90%	3.19%	4.85%	2.49%
EBIT Growth	22.76%	10.65%	11.15%	20.41%	8.14%	0.69%	-5.53%	-4.22%	2.53%	5.80%	2.24%
NOPAT Growth	22.83%	13.19%	10.57%	18.81%	9.90%	4.96%	-5.20%	-0.47%	-0.34%	0.77%	2.78%
Net Income Growth	24.41%	14.23%	11.24%	21.64%	9.45%	1.31%	-7.32%	-2.87%	0.00%	4.20%	4.88%
EPS Growth	27.08%	13.74%	10.20%	20.74%	9.09%	1.96%	-6.75%	-1.82%	1.15%	5.31%	6.19%
Operating Cash Flow Growth	46.76%	80.60%	7.19%	11.35%	-119.02%	78.77%	2.96%	10.93%	-25.71%	-60.23%	-12.78%
Free Cash Flow Firm Growth	107.44%	210.12%	-301.17%	-44.97%	-622.17%	-67.89%	-159.19%	-173.98%	-119.14%	202.22%	-57.59%
Invested Capital Growth	3.24%	1.68%	8.18%	6.61%	7.56%	2.97%	4.56%	5.35%	3.56%	1.05%	1.51%
Revenue Q/Q Growth	-8.36%	14.28%	-2.55%	11.60%	-8.03%	10.38%	4.13%	2.74%	-8.94%	8.78%	8.55%
EBITDA Q/Q Growth	-10.21%	19.09%	1.65%	10.31%	-17.42%	18.93%	8.63%	-1.25%	-22.07%	13.11%	10.41%
EBIT Q/Q Growth	-10.73%	20.74%	1.87%	11.81%	-19.54%	21.28%	10.36%	0.41%	-25.08%	13.78%	11.89%
NOPAT Q/Q Growth	-12.04%	21.12%	2.72%	12.24%	-18.94%	18.31%	10.38%	3.82%	-22.58%	6.86%	15.88%
Net Income Q/Q Growth	-13.41%	23.44%	2.76%	13.27%	-20.50%	20.22%	12.37%	1.92%	-26.41%	9.98%	17.75%
EPS Q/Q Growth	-11.59%	23.58%	2.76%	13.19%	-20.88%	19.74%	12.59%	2.27%	-26.05%	9.51%	18.55%
Operating Cash Flow Q/Q Growth	-106.85%	52.54%	73.96%	392.81%	-123.24%	-9.46%	80.71%	-50.00%	118.54%	-47.86%	94.69%
Free Cash Flow Firm Q/Q Growth	-87.19%	155.15%	-44.28%	26.95%	-633.51%	171.35%	47.86%	-263.88%	-123.72%	31.51%	-34.84%
Invested Capital Q/Q Growth	5.03%	-3.35%	0.68%	1.02%	3.44%	2.82%	-0.78%	1.92%	-0.97%	4.41%	-0.03%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	15.49%	15.63%	15.56%	15.03%	15.50%	16.48%	15.68%	15.44%	15.42%	16.87%	16.69%
EBITDA Margin	12.37%	12.63%	12.12%	11.61%	11.75%	13.09%	12.15%	11.64%	12.11%	14.16%	13.61%
Operating Margin	10.37%	10.67%	10.12%	9.65%	9.65%	11.04%	10.00%	9.48%	9.49%	11.31%	11.01%
EBIT Margin	10.55%	10.83%	10.25%	9.80%	9.78%	11.18%	10.18%	9.60%	9.83%	11.94%	11.42%
Profit (Net Income) Margin	8.13%	8.61%	7.97%	7.56%	7.45%	8.61%	7.91%	7.33%	7.39%	9.14%	9.04%
Tax Burden Percent	82.83%	83.92%	83.48%	83.03%	82.54%	81.91%	84.36%	83.97%	82.95%	81.92%	85.66%
Interest Burden Percent	93.10%	94.74%	93.14%	92.85%	92.19%	94.02%	92.10%	90.87%	90.63%	93.44%	92.45%
Effective Tax Rate	17.17%	16.08%	16.52%	16.97%	17.46%	18.09%	15.64%	16.03%	17.05%	18.08%	14.34%
Return on Invested Capital (ROIC)	14.04%	14.79%	13.41%	12.42%	12.02%	13.54%	12.83%	11.88%	11.60%	13.19%	13.85%
ROIC Less NNEP Spread (ROIC-NNEP)	13.36%	14.15%	12.67%	11.75%	11.35%	12.93%	12.17%	11.17%	11.04%	13.05%	13.45%
Return on Net Nonoperating Assets (RNNOA)	5.08%	4.70%	4.45%	4.67%	4.68%	5.39%	5.47%	5.41%	5.07%	6.90%	7.87%
Return on Equity (ROE)	19.12%	19.49%	17.86%	17.09%	16.69%	18.92%	18.30%	17.30%	16.68%	20.09%	21.72%
Cash Return on Invested Capital (CROIC)	10.73%	12.17%	5.44%	6.57%	5.34%	9.59%	8.32%	7.69%	9.55%	11.74%	11.85%
Operating Return on Assets (OROA)	9.28%	9.33%	8.51%	8.16%	7.86%	8.89%	8.06%	7.62%	7.61%	9.26%	8.66%
Return on Assets (ROA)	7.16%	7.42%	6.62%	6.29%	5.98%	6.84%	6.27%	5.81%	5.72%	7.09%	6.86%
Return on Common Equity (ROCE)	19.12%	19.49%	17.86%	17.09%	16.69%	18.92%	18.30%	17.30%	16.68%	20.09%	21.72%
Return on Equity Simple (ROE_SIMPLE)	17.89%	0.00%	15.84%	16.09%	15.81%	0.00%	16.55%	17.29%	17.76%	0.00%	18.98%
Net Operating Profit after Tax (NOPAT)	1,050	1,194	986	960	855	1,055	892	808	778	1,005	941
NOPAT Margin	8.59%	8.95%	8.45%	8.01%	7.97%	9.04%	8.44%	7.96%	7.87%	9.26%	9.43%
Net Nonoperating Expense Percent (NNEP)	0.68%	0.64%	0.74%	0.66%	0.67%	0.60%	0.66%	0.71%	0.56%	0.14%	0.39%
Return On Investment Capital (ROIC_SIMPLE)	3.30%	3.87%	-	-	-	3.45%	-	-	-	3.46%	-
Cost of Revenue to Revenue	84.51%	84.37%	84.44%	84.97%	84.50%	83.52%	84.32%	84.56%	84.58%	83.13%	83.31%
SG&A Expenses to Revenue	5.11%	4.96%	5.44%	5.38%	5.84%	5.44%	5.69%	5.96%	5.93%	5.57%	5.68%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	5.11%	4.96%	5.44%	5.38%	5.84%	5.44%	5.69%	5.96%	5.93%	5.57%	5.68%
Earnings before Interest and Taxes (EBIT)	1,289	1,444	1,196	1,174	1,050	1,305	1,076	975	971	1,296	1,139
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,512	1,684	1,414	1,391	1,261	1,527	1,284	1,182	1,197	1,536	1,358
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.26	3.27	3.57	3.59	3.58	3.24	2.95	2.95	3.19	3.49	3.19
Price to Tangible Book Value (P/TBV)	516.75	0.00	129.66	2,329.62	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.47	1.51	1.78	1.76	1.78	1.63	1.42	1.41	1.53	1.65	1.45
Price to Earnings (P/E)	18.19	19.06	22.55	22.34	22.67	20.84	17.80	17.05	17.96	19.14	16.79
Dividend Yield	2.12%	2.13%	1.83%	1.86%	1.88%	2.06%	2.40%	2.44%	2.27%	2.10%	2.39%
Earnings Yield	5.50%	5.25%	4.43%	4.48%	4.41%	4.80%	5.62%	5.86%	5.57%	5.22%	5.96%
Enterprise Value to Invested Capital (EV/IC)	2.64	2.72	2.96	2.91	2.87	2.67	2.39	2.35	2.52	2.66	2.45
Enterprise Value to Revenue (EV/Rev)	1.64	1.66	1.94	1.94	1.97	1.81	1.61	1.62	1.74	1.88	1.68
Enterprise Value to EBITDA (EV/EBITDA)	13.45	13.76	15.96	15.94	16.17	14.73	12.83	12.52	13.03	14.03	12.51
Enterprise Value to EBIT (EV/EBIT)	15.82	16.27	18.89	18.92	19.28	17.67	15.44	15.07	15.68	16.85	15.07
Enterprise Value to NOPAT (EV/NOPAT)	19.26	19.81	23.14	23.16	23.53	21.64	19.15	18.70	19.62	20.96	18.48
Enterprise Value to Operating Cash Flow (EV/OCF)	19.03	19.24	28.35	28.53	28.60	16.23	15.94	15.93	17.03	16.19	11.66
Enterprise Value to Free Cash Flow (EV/FCFF)	24.98	22.52	56.60	45.72	55.62	28.24	29.41	31.37	26.81	22.83	20.81
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.43	0.40	0.40	0.42	0.43	0.43	0.46	0.50	0.55	0.57	0.65
Long-Term Debt to Equity	0.33	0.33	0.32	0.33	0.41	0.41	0.46	0.47	0.48	0.50	0.52
Financial Leverage	0.38	0.33	0.35	0.40	0.41	0.42	0.45	0.48	0.46	0.53	0.59
Leverage Ratio	2.56	2.55	2.58	2.60	2.65	2.67	2.78	2.80	2.78	2.81	3.07
Compound Leverage Factor	2.39	2.42	2.40	2.42	2.44	2.51	2.56	2.54	2.52	2.62	2.84
Debt to Total Capital	30.18%	28.43%	28.74%	29.59%	30.19%	30.30%	31.68%	33.37%	35.49%	36.11%	39.43%
Short-Term Debt to Total Capital	7.38%	4.87%	6.22%	6.40%	1.65%	1.66%	0.02%	1.74%	4.25%	4.31%	7.73%
Long-Term Debt to Total Capital	22.81%	23.55%	22.52%	23.19%	28.54%	28.65%	31.66%	31.63%	31.24%	31.80%	31.70%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	69.82%	71.58%	71.26%	70.41%	69.81%	69.70%	68.32%	66.63%	64.51%	63.89%	60.57%
Debt to EBITDA	1.60	1.52	1.66	1.70	1.76	1.78	1.78	1.85	1.97	1.99	2.20
Net Debt to EBITDA	1.39	1.23	1.28	1.45	1.57	1.42	1.52	1.63	1.59	1.75	1.73
Long-Term Debt to EBITDA	1.21	1.26	1.30	1.33	1.67	1.69	1.78	1.75	1.74	1.75	1.77
Debt to NOPAT	2.29	2.19	2.40	2.46	2.57	2.62	2.66	2.76	2.97	2.97	3.25
Net Debt to NOPAT	2.00	1.77	1.86	2.10	2.28	2.08	2.27	2.44	2.39	2.62	2.55
Long-Term Debt to NOPAT	1.73	1.82	1.88	1.93	2.42	2.48	2.66	2.62	2.62	2.61	2.62
Altman Z-Score	3.38	3.40	3.43	3.45	3.37	3.25	3.05	3.04	3.09	3.17	2.97
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.34	1.37	1.32	1.33	1.44	1.44	1.43	1.39	1.39	1.37	1.34
Quick Ratio	0.73	0.73	0.72	0.72	0.76	0.79	0.81	0.80	0.85	0.85	0.86
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	91	713	-1,293	-896	-1,227	230	-322	-618	-170	716	545
Operating Cash Flow to CapEx	-104.23%	608.45%	704.48%	404.98%	-174.84%	393.42%	581.94%	344.81%	908.07%	135.43%	503.14%
Free Cash Flow to Firm to Interest Expense	1.03	9.38	-15.77	-10.67	-14.96	2.95	-3.79	-6.95	-1.87	8.42	6.33
Operating Cash Flow to Interest Expense	-1.66	28.42	17.27	9.69	-3.39	15.33	15.54	8.21	16.07	7.87	14.92
Operating Cash Flow Less CapEx to Interest Expense	-3.26	23.75	14.82	7.30	-5.33	11.44	12.87	5.83	14.30	2.06	11.95
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.88	0.86	0.83	0.83	0.80	0.79	0.79	0.79	0.77	0.78	0.76
Accounts Receivable Turnover	4.09	4.29	3.90	3.88	3.79	3.71	3.69	3.63	3.63	3.38	3.49
Inventory Turnover	4.29	4.41	4.22	4.37	4.38	4.78	4.80	4.97	5.30	5.62	5.42
Fixed Asset Turnover	7.78	7.54	7.46	7.35	7.15	6.99	7.16	7.15	7.05	6.96	7.22
Accounts Payable Turnover	12.69	12.53	11.76	11.97	11.26	10.97	10.86	10.54	10.34	9.99	11.16
Days Sales Outstanding (DSO)	89.29	85.01	93.54	94.11	96.18	98.45	99.01	100.45	100.58	108.10	104.69
Days Inventory Outstanding (DIO)	85.10	82.77	86.56	83.44	83.41	76.38	76.08	73.49	68.84	64.92	67.30
Days Payable Outstanding (DPO)	28.77	29.12	31.03	30.50	32.42	33.29	33.60	34.63	35.30	36.54	32.71
Cash Conversion Cycle (CCC)	145.62	138.66	149.07	147.05	147.16	141.55	141.49	139.31	134.11	136.47	139.28
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	30,592	29,128	30,139	29,935	29,633	28,647	27,860	28,079	27,551	27,822	26,646
Invested Capital Turnover	1.63	1.65	1.59	1.55	1.51	1.50	1.52	1.49	1.47	1.42	1.47
Increase / (Decrease) in Invested Capital	959	481	2,279	1,856	2,082	825	1,214	1,426	948	289	396
Enterprise Value (EV)	80,712	79,134	89,239	87,106	84,936	76,441	66,686	66,030	69,352	74,141	65,228
Market Capitalization	72,345	72,069	82,073	79,207	76,713	69,093	58,783	57,429	60,888	64,887	56,233
Book Value per Share	$82.21	$80.24	$83.61	$80.32	$78.04	$78.05	$73.09	$71.00	$69.55	$67.63	$64.36
Tangible Book Value per Share	$0.52	($0.05)	$2.30	$0.12	($2.34)	($3.46)	($7.73)	($9.83)	($11.21)	($13.08)	($16.14)
Total Capital	31,834	30,825	32,240	31,297	30,669	30,560	29,212	29,233	29,589	29,064	29,142
Total Debt	9,609	8,762	9,267	9,261	9,259	9,261	9,255	9,755	10,502	10,496	11,491
Total Long-Term Debt	7,260	7,260	7,262	7,257	8,752	8,754	9,248	9,247	9,245	9,243	9,239
Net Debt	8,367	7,065	7,166	7,899	8,223	7,348	7,903	8,601	8,464	9,254	8,995
Capital Expenditures (CapEx)	142	355	201	201	159	304	227	212	161	494	255
Debt-free, Cash-free Net Working Capital (DFCFNWC)	7,464	6,367	6,090	6,697	6,877	5,777	5,472	5,493	5,323	5,733	5,102
Debt-free Net Working Capital (DFNWC)	8,706	8,064	8,191	8,059	7,913	7,690	6,824	6,647	7,361	6,975	7,598
Net Working Capital (NWC)	6,357	6,562	6,186	6,055	7,406	7,183	6,817	6,139	6,104	5,722	5,346
Net Nonoperating Expense (NNE)	56	46	56	55	56	50	56	64	48	13	39
Net Nonoperating Obligations (NNO)	8,367	7,065	7,166	7,899	8,223	7,348	7,903	8,601	8,464	9,254	8,995
Total Depreciation and Amortization (D&A)	223	240	218	217	211	222	208	207	226	240	219
Debt-free, Cash-free Net Working Capital to Revenue	15.17%	13.34%	13.23%	14.90%	15.95%	13.67%	13.20%	13.44%	13.34%	14.55%	13.13%
Debt-free Net Working Capital to Revenue	17.69%	16.90%	17.79%	17.93%	18.35%	18.19%	16.46%	16.27%	18.45%	17.70%	19.56%
Net Working Capital to Revenue	12.92%	13.75%	13.43%	13.47%	17.17%	16.99%	16.44%	15.02%	15.30%	14.52%	13.76%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.69	$4.20	$3.39	$3.30	$2.92	$3.69	$3.07	$2.72	$2.66	$3.62	$3.29
Adjusted Weighted Average Basic Shares Outstanding	268.40M	270.35M	274.97M	274.78M	274.36M	273.98M	272.90M	273.04M	274.34M	274.43M	274.55M
Adjusted Diluted Earnings per Share	$3.66	$4.14	$3.35	$3.26	$2.88	$3.64	$3.04	$2.70	$2.64	$3.57	$3.26
Adjusted Weighted Average Diluted Shares Outstanding	268.40M	270.35M	274.97M	274.78M	274.36M	273.98M	272.90M	273.04M	274.34M	274.43M	274.55M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	268.40M	270.35M	274.97M	274.78M	274.36M	273.98M	272.90M	273.04M	274.34M	274.43M	274.55M
Normalized Net Operating Profit after Tax (NOPAT)	1,050	1,194	986	960	855	1,055	892	808	778	1,005	941
Normalized NOPAT Margin	8.59%	8.95%	8.45%	8.01%	7.97%	9.04%	8.44%	7.96%	7.87%	9.26%	9.43%
Pre Tax Income Margin	9.82%	10.26%	9.55%	9.10%	9.02%	10.52%	9.37%	8.73%	8.91%	11.16%	10.56%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	14.48	19.00	14.59	13.98	12.80	16.73	12.66	10.96	10.67	15.25	13.24
NOPAT to Interest Expense	11.80	15.71	12.02	11.43	10.43	13.53	10.49	9.08	8.55	11.82	10.94
EBIT Less CapEx to Interest Expense	12.89	14.33	12.13	11.58	10.87	12.83	9.99	8.57	8.90	9.44	10.28
NOPAT Less CapEx to Interest Expense	10.21	11.04	9.57	9.03	8.49	9.63	7.82	6.69	6.78	6.01	7.97
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	39.00%	40.43%	41.22%	41.55%	42.67%	43.08%	42.79%	41.42%	40.83%	40.38%	40.48%
Augmented Payout Ratio	89.19%	80.12%	46.25%	47.05%	55.94%	56.17%	59.27%	56.65%	71.06%	76.64%	83.94%

Frequently Asked Questions About General Dynamics' Financials

When does General Dynamics's fiscal year end?

According to the most recent income statement we have on file, General Dynamics' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has General Dynamics' net income changed over the last 9 years?

General Dynamics' net income appears to be on an upward trend, with a most recent value of $3.78 billion in 2024, rising from $3.04 billion in 2015. The previous period was $3.32 billion in 2023. See General Dynamics' forecast for analyst expectations on what’s next for the company.

What is General Dynamics's operating income?

General Dynamics's total operating income in 2024 was $4.80 billion, based on the following breakdown:

Total Gross Profit: $7.36 billion
Total Operating Expenses: $2.57 billion

How has General Dynamics revenue changed over the last 9 years?

Over the last 9 years, General Dynamics' total revenue changed from $31.78 billion in 2015 to $47.72 billion in 2024, a change of 50.1%.

How much debt does General Dynamics have?

General Dynamics' total liabilities were at $33.82 billion at the end of 2024, a 0.9% increase from 2023, and a 59.1% increase since 2015.

How much cash does General Dynamics have?

In the past 9 years, General Dynamics' cash and equivalents has ranged from $902 million in 2019 to $2.98 billion in 2017, and is currently $1.70 billion as of their latest financial filing in 2024.

How has General Dynamics' book value per share changed over the last 9 years?

Over the last 9 years, General Dynamics' book value per share changed from 33.97 in 2015 to 80.24 in 2024, a change of 136.2%.

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This page (NYSE:GD) was last updated on 5/30/2025 by MarketBeat.com Staff

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General Dynamics (GD) Financials

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General Dynamics (GD) Financials

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