General Dynamics (GD) Financials

$272.30 +0.59 (+0.22%)

Closing price 03:59 PM Eastern

Extended Trading

$273.02 +0.72 (+0.26%)

As of 05:32 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	3,036	2,572	2,912	3,345	3,484	3,167	3,257	3,390	3,315	3,782
Consolidated Net Income / (Loss)	3,036	2,572	2,912	3,345	3,484	3,167	3,257	3,390	3,315	3,782
Net Income / (Loss) Continuing Operations	3,036	2,679	2,912	3,358	3,484	3,167	3,257	3,390	3,315	3,782
Total Pre-Tax Income	4,219	3,656	4,077	4,085	4,202	3,738	3,873	4,036	3,984	4,540
Total Operating Income	4,295	3,744	4,236	4,394	4,570	4,133	4,163	4,211	4,245	4,796
Total Gross Profit	6,232	5,665	6,242	6,657	6,987	6,325	6,408	6,622	6,672	7,364
Total Revenue	31,781	30,561	30,973	36,193	39,350	37,925	38,469	39,407	42,272	47,716
Operating Revenue	31,781	30,561	30,973	36,193	39,350	37,925	38,469	39,407	42,272	47,716
Total Cost of Revenue	25,549	24,896	24,731	29,536	32,363	31,600	32,061	32,785	35,600	40,352
Operating Cost of Revenue	25,549	24,896	24,731	29,536	32,363	31,600	32,061	32,785	35,600	40,352
Total Operating Expenses	1,937	1,921	2,006	2,263	2,417	2,192	2,245	2,411	2,427	2,568
Selling, General & Admin Expense	1,937	1,921	2,006	2,263	2,417	2,192	2,245	2,411	2,427	2,568
Total Other Income / (Expense), net	-76	-88	-159	-309	-368	-395	-290	-175	-261	-256
Interest Expense	83	91	103	356	460	477	424	364	343	324
Other Income / (Expense), net	7.00	3.00	-56	47	92	82	134	189	82	68
Income Tax Expense	1,183	977	1,165	727	718	571	616	646	669	758
Basic Earnings per Share	$9.45	$8.79	$9.73	$11.33	$12.09	$11.04	$11.61	$12.31	$12.14	$13.81
Weighted Average Basic Shares Outstanding	321.31M	265.20M	299.17M	295.26M	289.63M	286.26M	277.70M	274.43M	273.98M	270.35M
Diluted Earnings per Share	$9.29	$8.64	$9.56	$11.18	$11.98	$11.00	$11.55	$12.19	$12.02	$13.63
Weighted Average Diluted Shares Outstanding	321.31M	265.20M	299.17M	295.26M	289.63M	286.26M	277.70M	274.43M	273.98M	270.35M
Weighted Average Basic & Diluted Shares Outstanding	321.31M	265.20M	299.17M	295.26M	289.63M	286.26M	277.70M	274.43M	273.98M	270.35M

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

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

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

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

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

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

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

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

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

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

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.

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 4/25/2025 by MarketBeat.com Staff

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General Dynamics (GD) Financials

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General Dynamics (GD) Financials

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