General Dynamics Corp (GD)
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support, customer support and custom completion services, modifications, upgrades, and lifecycle sustainment support services. The Marine Systems segment designs and builds nuclear-powered submarines, surface combatants, and auxiliary ships for the United States Navy and Jones Act ships for commercial customers, as well as provides maintenance, modernization, and lifecycle support services for navy ships; offers and program management, planning, engineering, and design support services for submarine construction programs. The Combat Systems segment manufactures land combat solutions, such as wheeled and tracked combat vehicles, Stryker wheeled combat vehicles, piranha vehicles, weapons systems, energetics and munitions, mobile bridge systems with payloads, tactical vehicles, main battle tanks, and armored vehicles; and offers modernization programs, support and sustainment services, and development programs. The Technologies segment provides information technology solutions and mission support services; mobile communication, computers, and command-and-control mission systems; intelligence, surveillance, and reconnaissance solutions to military, intelligence, and federal civilian customers; cloud services, cybersecurity, network modernization, artificial intelligence; machine learning; application development, high-performance computing, and 5G and advanced communications services; and unmanned undersea vehicle manufacturing and assembly services. The company was founded in 1899 and is headquartered in Reston, Virginia.
- Symbol
- GD
- Exchange
- NYSE
- Sector
- Industrials
- Industry
- Aerospace & Defense
- Market cap
- $92.86B
- 52 week range
- 306.77 - 400
Valuation
- Share price
- $343.33 (close of 2026-09-23)
- P/E (TTM)
- 21.29x
- Price to book
- 3.56x
- Price to free cash flow
- 14.98x
- Enterprise value
- $99.04B
- Book value per share
- $96.44
Price performance
| Period | Change |
|---|
| 1 day | -2.99% |
| 5 days | -4.26% |
| 1 month | -10.66% |
| 3 months | -2.00% |
| 6 months | -1.16% |
| Year to date | +1.98% |
| 1 year | +6.23% |
| 3 years | +57.25% |
| 5 years | +74.50% |
| 10 years | +123.22% |
| All time | +47584.72% |
Profitability and growth
- Return on equity
- 16.43%
- Return on invested capital
- 13.49%
- Return on assets
- 7.35%
- Return on capital employed
- 13.24%
- Gross margin
- 15.13%
- Net margin
- 8.01%
- EBITDA margin
- 11.95%
- Revenue growth
- 10.13%
- Net income growth
- 11.32%
- Free cash flow growth
- 23.87%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 6.68%
- Current ratio
- 1.38x
- Net debt to EBITDA
- 0.94x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $52.55B
- Cost of revenue
- $44.60B
- Gross profit
- $7.95B
- EBITDA
- $6.28B
- Net income
- $4.21B
- Earnings per share
- $15.65
- Interest expense
- $402.00M
- Shares outstanding
- 269.08M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $52.55B | $7.95B | $4.21B | $15.65 |
| 2024-12-31 | $47.72B | $7.36B | $3.78B | $13.81 |
| 2023-12-31 | $42.27B | $6.67B | $3.31B | $12.14 |
| 2022-12-31 | $39.41B | $6.62B | $3.39B | $12.31 |
| 2021-12-31 | $38.47B | $6.41B | $3.26B | $11.61 |
| 2020-12-31 | $37.92B | $6.33B | $3.17B | $11.04 |
| 2019-12-31 | $39.35B | $7.06B | $3.48B | $12.09 |
| 2018-12-31 | $36.19B | $6.71B | $3.35B | $11.33 |
| 2017-12-31 | $30.97B | $6.24B | $2.91B | $9.73 |
| 2016-12-31 | $30.56B | $5.67B | $2.57B | $8.44 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 15.13% | 8.01% | 16.43% | 13.49% |
| 2024-12-31 | 15.43% | 7.93% | 17.14% | 13.01% |
| 2023-12-31 | 15.78% | 7.84% | 15.56% | 11.74% |
| 2022-12-31 | 16.80% | 8.60% | 18.26% | 12.11% |
| 2021-12-31 | 16.66% | 8.47% | 18.46% | 12.14% |
| 2020-12-31 | 16.68% | 8.35% | 20.22% | 12.92% |
| 2019-12-31 | 17.94% | 8.85% | 24.92% | 14.34% |
| 2018-12-31 | 18.55% | 9.24% | 27.62% | 15.56% |
| 2017-12-31 | 20.15% | 9.40% | 24.68% | 23.99% |
| 2016-12-31 | 18.54% | 8.42% | 24.97% | 23.27% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $2.33B | $7.01B |
| 2024-12-31 | $1.70B | $7.26B |
| 2023-12-31 | $1.91B | $8.75B |
| 2022-12-31 | $1.24B | $9.24B |
| 2021-12-31 | $1.60B | $10.49B |
| 2020-12-31 | $2.82B | $9.99B |
| 2019-12-31 | $902.00M | $9.01B |
| 2018-12-31 | $963.00M | $11.44B |
| 2017-12-31 | $2.98B | $3.98B |
| 2016-12-31 | $2.30B | $2.99B |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $3.96B | $196.00M |
| 2024-12-31 | $3.20B | $183.00M |
| 2023-12-31 | $3.81B | $181.00M |
| 2022-12-31 | $3.46B | $165.00M |
| 2021-12-31 | $3.38B | $126.00M |
| 2020-12-31 | $2.89B | $128.00M |
| 2019-12-31 | $1.99B | $133.00M |
| 2018-12-31 | $2.46B | $140.00M |
| 2017-12-31 | $3.45B | $123.00M |
| 2016-12-31 | $1.77B | $95.00M |
Dividend history
- Most recent payment
- 2026-07-02
- Paid in the last twelve months
- $6.18
| Payment date | Dividend per share |
|---|
| 2026-07-02 | $1.59 |
| 2026-04-10 | $1.59 |
| 2026-01-16 | $1.50 |
| 2025-10-10 | $1.50 |
| 2025-07-03 | $1.50 |
| 2025-04-11 | $1.50 |
| 2025-01-17 | $1.42 |
| 2024-10-11 | $1.42 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-10-23
- Consensus EPS estimate
- $4.14
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-07-29 | Jun/2026 | $3.95 |
| 2026-04-29 | - | - |
| 2026-01-28 | - | - |
| 2025-10-24 | - | - |
| 2025-07-23 | - | - |
| 2025-04-23 | - | - |
| 2025-01-29 | - | - |
| 2024-10-23 | - | - |
Filings and sources
- Company website
- gd.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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