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General Dynamics GD

US equityMarket cap rank #173Aerospace & DefenseRobotics
$340.74
−$2.59 (-0.75%)
Market open · Sep 24, 2:00 pm ET
After hours $344.00 +0.20%
Open$343.14
Prev close$343.33
Day range$340.20 – $344.74
Volume545.2K
Market cap$92.19B
P/E (TTM)20.8
Dividend yield1.81%

Fundamentals

Latest reported quarter: Q2, ended Jul 2026

Revenue$14.09B+8.1% YoY
Operating profit$1.46B+11.9% YoY
Net profit$1.16B+14.4% YoY
Diluted EPS$4.24+13.4% YoY
Free cash flow$1.65B+17.6% YoY
Operating cash flow$1.88B

Revenue, last 8 quarters

$11.7BSep '24$13.3BDec '24$12.2BMar '25$13.0BJun '25$12.9BSep '25$14.4BDec '25$13.5BApr '26$14.1BJul '26

Net profit, last 8 quarters

$930.0MSep '24$1.1BDec '24$994.0MMar '25$1.0BJun '25$1.1BSep '25$1.1BDec '25$1.1BApr '26$1.2BJul '26

Diluted EPS by quarter

3.35Sep '244.15Dec '243.66Mar '253.74Jun '253.88Sep '254.17Dec '254.10Apr '264.24Jul '26

Free cash flow by quarter

$1.2BSep '24$1.8BDec '24$-290.0MMar '25$1.4BJun '25$1.9BSep '25$952.0MDec '25$2.0BApr '26$1.6BJul '26

Annual revenue

$37.9BFY20$38.5BFY21$39.4BFY22$42.3BFY23$47.7BFY24$52.6BFY25

Profitability & balance sheet

Gross margin15.4%
Operating margin10.3%
Net margin8.2%
Return on equity17.8%
Return on assets7.7%
Return on invested capital13.5%
Current ratio1.44
Liabilities / assets55.4%
Cash & investments$4.33B
Total debt$9.15B
Net cash (debt)-$4.82B
Free cash flow / sales11.8%

Where the revenue comes from

Quarter 2026/Q2

By business line

  • Marine Systems$4.66B 33.1%
  • Technologies$3.62B 25.7%
  • Aerospace$3.53B 25.0%
  • Combat Systems$2.29B 16.2%

Income statement

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Revenue as Reported $14.09B $13.48B $52.55B $14.38B $12.91B
Total Operating Revenue $14.09B $13.48B $52.55B $14.38B $12.91B
Cost of Revenue $11.91B $11.34B $44.60B $12.24B $10.94B
Gross Profit $2.18B $2.14B $7.95B $2.14B $1.97B
Operating Expense $723.00M $723.00M $2.60B $689.00M $637.00M
Selling and Admin Expenses $723.00M $723.00M $2.60B $689.00M $637.00M
-General & Admin Expense $723.00M $723.00M $2.60B $689.00M $637.00M
Operating Profit $1.46B $1.42B $5.36B $1.45B $1.33B
Net Non-Operating Interest Income (Expense) -$49.00M -$69.00M -$314.00M -$63.00M -$74.00M
Non-Operating Interest Expense $49.00M $69.00M $402.00M $151.00M $74.00M
Other Income (Expense) -$4.00M $18.00M $61.00M $10.00M $15.00M
Other Non-Operating Income (Expenses) -$4.00M $18.00M $61.00M $10.00M $15.00M
Pretax Profit $1.41B $1.37B $5.10B $1.40B $1.27B
Tax $247.00M $244.00M $893.00M $256.00M $213.00M
Net Profit $1.16B $1.13B $4.21B $1.14B $1.06B
Profit from Continuing Operations $1.16B $1.13B $4.21B $1.14B $1.06B
Net Income to Parent Company $1.16B $1.13B $4.21B $1.14B $1.06B
Net Income to Common Stockholders $1.16B $1.13B $4.21B $1.14B $1.06B
Basic EPS $4.29 $4.16 $15.65 $4.23 $3.93
Diluted EPS $4.24 $4.10 $15.45 $4.17 $3.88
Dividend Per Share $1.59 $1.59 $6.00 $1.50 $1.50
Total Other Finance Costs – $69.00M – – $74.00M
Non-Operating Interest Income – – $88.00M – –

Balance sheet

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Assets $60.16B $59.03B $57.25B $57.25B $57.60B
Total Current Assets $27.04B $26.06B $24.25B $24.25B $25.85B
Cash and Cash Equivalents & Short-Term Investments $4.33B $3.65B $2.33B $2.33B $2.52B
-Cash and Cash Equivalents $4.33B $3.65B $2.33B $2.33B $2.52B
Receivables $11.65B $11.31B $10.79B $10.79B $11.94B
-Accounts Receivable $2.40B $2.25B $2.41B $2.41B $3.30B
-Other Receivables $9.26B $9.05B $8.38B $8.38B $8.64B
Inventory $9.10B $9.18B $9.23B $9.23B $9.81B
Other Current Assets $1.96B $1.92B $1.90B $1.90B $1.58B
Total Non-Current Assets $33.13B $32.97B $33.00B $33.00B $31.75B
Net PPE $7.58B $7.50B $7.53B $7.53B $6.60B
-Gross PPE $15.41B $15.23B $15.13B $15.13B $14.05B
-Accumulated Depreciation -$7.83B -$7.73B -$7.61B -$7.61B -$7.45B
Goodwill and Other Intangible Assets $22.21B $22.28B $22.38B $22.38B $22.27B
-Goodwill $20.93B $20.96B $21.01B $21.01B $20.87B
-Other Intangible Assets $1.28B $1.33B $1.38B $1.38B $1.40B
Other Non-Current Assets $3.34B $3.19B $3.09B $3.09B $2.87B
Total Liabilities $33.34B $32.95B $31.63B $31.63B $33.17B
Total Current Liabilities $18.77B $18.83B $16.80B $16.80B $18.46B
Payables $3.31B $3.27B $3.09B $3.09B $3.86B
-Accounts Payable $2.87B $2.84B $2.68B $2.68B $3.46B
-Dividends Payable $431.00M $431.00M $407.00M $407.00M $405.00M
Current Accrued Expenses $1.17B $1.07B $1.13B $1.13B $1.24B
Short-Term Debt and Capital Lease Obligation $1.59B $2.06B $1.31B $1.31B $1.32B
-Current Debt $1.26B $1.76B $1.01B $1.01B $1.01B
-Current Capital Lease Obligation $330.00M $307.00M $299.00M $299.00M $313.00M
Current Deferred Liabilities $11.03B $10.85B $9.82B $9.82B $10.46B
Other Current Liabilities $1.43B $1.34B $1.22B $1.22B $1.32B
Total Non-Current Liabilities $14.57B $14.13B $14.83B $14.83B $14.70B
Long Term Debt and Capital Lease Obligation $7.89B $7.77B $8.48B $8.48B $8.56B
-Long Term Debt $6.26B $6.26B $7.01B $7.01B $7.01B
-Long Term Capital Lease Obligation $1.63B $1.51B $1.48B $1.48B $1.55B
Non-Current Deferred Liabilities $2.61B $2.39B $2.65B $2.65B $2.06B
Employee Benefits $1.07B $1.09B $1.13B $1.13B $1.77B
Other Non-Current Liabilities $3.00B $2.87B $2.56B $2.56B $2.31B
Total Equity $26.83B $26.08B $25.62B $25.62B $24.43B
Stockholders' Equity $26.83B $26.08B $25.62B $25.62B $24.43B
Capital Stock $482.00M $482.00M $482.00M $482.00M $482.00M
-Common Stock $482.00M $482.00M $482.00M $482.00M $482.00M
Additional Paid-In Capital $4.54B $4.43B $4.40B $4.40B $4.32B
Retained Earnings $45.50B $44.77B $44.08B $44.08B $43.35B
Less: Treasury Stock $23.11B $23.05B $22.86B $22.86B $22.86B
Gains/Losses Not Affecting Retained Earnings -$583.00M -$557.00M -$483.00M -$483.00M -$860.00M

Cash flow

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Operating Cash Flow $1.88B $2.16B $5.12B $1.56B $2.11B
Net cash flow from continuing operations $1.88B $2.16B $5.12B $1.56B $2.11B
Net Income from Continuing Operations $1.16B $1.13B $4.21B $1.14B $1.06B
Depreciation & Depletion & Amortization $231.00M $232.00M $924.00M $252.00M $226.00M
Deferred Tax $79.00M $286.00M $256.00M $105.00M $249.00M
Other Non-Cash Items $162.00M -$8.00M -$658.00M -$877.00M $40.00M
Change in Working Capital $181.00M $480.00M $192.00M $888.00M $478.00M
-Change in Receivables -$334.00M -$504.00M $410.00M $1.14B $83.00M
-Change in Inventory $80.00M $55.00M $450.00M $581.00M $76.00M
-Change in Payables and Accrued Expense $31.00M $165.00M -$664.00M -$783.00M $380.00M
-Change In Other Working Capital $404.00M $764.00M -$4.00M -$49.00M -$61.00M
Net cash flow from investing -$222.00M -$202.00M -$1.28B -$862.00M -$206.00M
Net Cash Flow from Continuing Investing Activities -$222.00M -$202.00M -$1.28B -$862.00M -$206.00M
Capital Expenditure -$234.00M -$203.00M -$1.16B -$609.00M -$212.00M
Net Other Investing Changes $12.00M $1.00M -$123.00M -$253.00M $6.00M
Financing Cash Flow -$976.00M -$629.00M -$3.19B -$884.00M -$903.00M
Net Cash Flow from Continuing Financing Activities -$976.00M -$629.00M -$3.19B -$884.00M -$903.00M
Net Issuance Payments Of Debt -$500.00M $0.00 -$753.00M $0.00 -$696.00M
Net Common Stock Issuance -$102.00M -$217.00M -$637.00M -$37.00M $0.00
Cash Dividends Paid -$429.00M -$405.00M -$1.59B -$405.00M -$403.00M
Net Other Financing Charges $55.00M -$7.00M -$207.00M -$442.00M $196.00M
Ending Cash Balance $4.33B $3.65B $2.33B $2.33B $2.52B
Net Change in Cash $679.00M $1.32B $636.00M -$187.00M $997.00M
Beginning Cash Balance $3.65B $2.33B $1.70B $2.52B $1.52B
Free Cash Flow $1.65B $1.95B $3.96B $952.00M $1.90B
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