GD
General Dynamics CorporationStock · IndustrialsS&P 500 Equal Weight 0.2% · S&P 500 0.1% · Russell 1000 0.1% · US Stock Market 0.1% · Russell 3000 0.1% · MSCI World 0.09% · MSCI ACWI 0.08%$355.90+0.47%
as of market close, Sep 11, 2026
☾ AH — —
GD financial statements
The full income statement, balance sheet, and cash-flow statement for General Dynamics Corporation (GD), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 274.8M2024-09 275.0M2024-12 270.4M2025-03 268.4M2025-06 269.0M2025-09 270.1M2025-12 270.4M2026-04 270.4M2026-07 270.6M-1.5% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 52.5B+10.1% | 47.7B+12.9% | 42.3B+7.3% | 39.4B+2.4% | 38.5B+1.4% | |
| Selling, general & administrative | 2.60B+1.1% | 2.57B+5.8% | 2.43B+0.7% | 2.41B+7.4% | 2.25B+2.4% | |
| General & administrative | 2.60B+1.1% | 2.57B+5.8% | 2.43B+0.7% | 2.41B+7.4% | 2.25B+2.4% | |
| Amortization of intangibles | 174M-3.3% | 180M-7.2% | 194M-4.0% | 202M-10.6% | 226M-13.4% | |
| Operating income | 5.36B+11.7% | 4.80B+13.0% | 4.25B+0.8% | 4.21B+1.2% | 4.16B+0.7% | |
| Interest expense | — | — | 399M+2.0% | 391M-9.3% | 431M-11.9% | |
| Interest & investment income | 88.0M+27.5% | 69.0M+23.2% | 56.0M+107.4% | 27.0M | — | |
| Net interest income | -314M+3.1% | -324M+5.5% | -343M+5.8% | -364M+14.2% | -424M+11.1% | |
| Other non-operating income | 61.0M-10.3% | 68.0M-17.1% | 82.0M-56.6% | 189M+41.0% | 134M+63.4% | |
| Pre-tax income | 5.10B+12.4% | 4.54B+14.0% | 3.98B-1.3% | 4.04B+4.2% | 3.87B+3.6% | |
| Income tax | 893M+17.8% | 758M+13.3% | 669M+3.6% | 646M+4.9% | 616M+7.9% | |
| Net income | 4.21B+11.3% | 3.78B+14.1% | 3.31B-2.2% | 3.39B+4.1% | 3.26B+2.8% | |
| $15.45+13.4% | $13.63+13.4% | $12.02-1.4% | $12.19+5.5% | $11.55+5.0% | ||
| EPS (basic) | $15.65+13.3% | $13.81+13.8% | $12.14-1.4% | $12.31+6.0% | $11.61+5.2% | |
| Weighted-avg shares (basic) | 269M-1.7% | 274M+0.3% | 273M-0.8% | 275M-1.8% | 280M-2.3% | |
| Weighted-avg shares (diluted) | 272M-1.8% | 277M+0.6% | 276M-0.9% | 278M-1.4% | 282M-2.0% | |
| Dividends per share | $5.89+4.2% | $5.66+8.5% | $5.21+4.5% | $4.99+5.3% | $4.74+9.3% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 24.2B-0.6% | 24.4B+3.3% | 23.6B+12.1% | 21.1B+5.4% | 20.0B-7.2% | ||
| Cash & equivalents | 2.33B+37.5% | 1.70B-11.3% | 1.91B+54.0% | 1.24B-22.5% | 1.60B-43.2% | |
| Accounts receivable | 2.41B-19.2% | 2.98B-0.9% | 3.00B-0.1% | 3.01B-1.1% | 3.04B-3.8% | |
| Inventory | 9.23B-5.1% | 9.72B+13.4% | 8.58B+35.7% | 6.32B+18.4% | 5.34B-7.0% | |
| Other current assets | 1.90B+9.0% | 1.74B-18.0% | 2.12B+25.2% | 1.70B+12.7% | 1.50B-15.9% | |
| 57.2B+2.4% | 55.9B+2.0% | 54.8B+6.3% | 51.6B+3.0% | 50.1B-2.4% | ||
| Property, plant & equipment | 7.53B+16.4% | 6.47B+4.3% | 6.20B+5.1% | 5.90B+8.9% | 5.42B+6.2% | |
| Operating lease right-of-use | 1.28B-0.8% | 1.29B+1.2% | 1.28B+1.3% | 1.26B+0.5% | 1.26B-5.3% | |
| Goodwill | 21.0B+2.2% | 20.6B-0.1% | 20.6B+1.2% | 20.3B+1.2% | 20.1B+0.2% | |
| Intangible assets | 1.38B-9.5% | 1.52B-8.2% | 1.66B-9.2% | 1.82B-7.8% | 1.98B-6.6% | |
| Deferred tax assets | 19.0M+0.0% | 19.0M-32.1% | 28.0M-28.2% | 39.0M-4.9% | 41.0M+10.8% | |
| Other non-current assets | 3.09B+4.8% | 2.95B+7.1% | 2.75B+11.8% | 2.46B-5.0% | 2.59B+3.9% | |
| Total non-current assets | 33.0B+4.8% | 31.5B+1.0% | 31.2B+2.2% | 30.5B+1.4% | 30.1B+1.1% | |
| 16.8B-5.8% | 17.8B+8.5% | 16.4B+7.1% | 15.3B+9.8% | 14.0B-12.4% | ||
| Accounts payable | 2.68B-19.9% | 3.34B+8.0% | 3.10B-8.9% | 3.40B+7.3% | 3.17B+7.3% | |
| Deferred revenue | 9.82B+3.5% | 9.49B-0.8% | 9.56B+28.6% | 7.44B+18.7% | 6.27B-0.2% | |
| Short-term & current debt | 1.01B-33.0% | 1.50B+196.3% | 507M-59.5% | 1.25B+24.7% | 1.00B-66.5% | |
| Current lease liability | 299M+18.2% | 253M-2.7% | 260M+4.0% | 250M-3.1% | 258M-1.5% | |
| Other current liabilities | 3.29B-5.7% | 3.49B+6.8% | 3.27B+0.4% | 3.25B-8.1% | 3.54B-5.2% | |
| Finance lease liability (current) | 39.0M-40.9% | 66.0M+1.5% | 65.0M+71.1% | 38.0M-51.9% | 79.0M+16.2% | |
| Long-term debt | 7.01B-3.5% | 7.26B-17.1% | 8.75B-5.3% | 9.24B-11.9% | 10.5B+5.0% | |
| Deferred revenue (non-current) | 2.65B-11.6% | 3.00B+16.3% | 2.58B+18.4% | 2.17B+74.0% | 1.25B+43.3% | |
| Non-current lease liability | 1.48B+30.4% | 1.13B+1.6% | 1.11B+0.8% | 1.11B+1.9% | 1.08B-5.6% | |
| Operating lease liability (total) | 1.38B-0.1% | 1.39B+0.8% | 1.38B+1.4% | 1.36B+1.0% | 1.34B-4.8% | |
| Finance lease liability (total) | 392M-25.8% | 528M+18.1% | 447M+70.6% | 262M-22.3% | 337M+4.3% | |
| Finance lease liability | 353M-23.6% | 462M+20.9% | 382M+70.5% | 224M-13.2% | 258M+1.2% | |
| Deferred tax liabilities | 956M+66.8% | 573M-12.5% | 655M-4.4% | 685M-21.1% | 868M+88.3% | |
| Other non-current liabilities | 7.82B-10.4% | 8.73B+4.9% | 8.32B-1.3% | 8.43B+5.9% | 7.96B-17.8% | |
| Total non-current liabilities | 14.8B-7.3% | 16.0B-6.4% | 17.1B-3.4% | 17.7B-4.2% | 18.5B-6.2% | |
| 25.6B+16.1% | 22.1B+3.6% | 21.3B+14.7% | 18.6B+5.3% | 17.6B+12.6% | ||
| Common stock | 482M+0.0% | 482M+0.0% | 482M+0.0% | 482M+0.0% | 482M+0.0% | |
| Additional paid-in capital | 4.40B+8.4% | 4.06B+8.0% | 3.76B+5.7% | 3.56B+8.5% | 3.28B+4.9% | |
| Retained earnings | 44.1B+6.3% | 41.5B+5.6% | 39.3B+5.0% | 37.4B+5.6% | 35.4B+5.7% | |
| Treasury stock | 22.9B+1.8% | 22.4B+6.6% | 21.1B+1.6% | 20.7B+5.6% | 19.6B+9.6% | |
| Accumulated other comprehensive income | -483M+68.2% | -1.52B-31.0% | -1.16B+46.1% | -2.15B-12.1% | -1.92B+45.9% | |
| Total liabilities & equity | 57.2B+2.4% | 55.9B+2.0% | 54.8B+6.3% | 51.6B+3.0% | 50.1B-2.4% | |
| Common shares issued | 482M+0.0% | 482M+0.0% | 482M+0.0% | 482M+0.0% | 482M+0.0% | |
| Common shares outstanding | 270M+0.0% | 270M-1.2% | 274M-0.3% | 274M-1.2% | 278M-3.1% | |
| Shares outstanding (cover) | 270M+0.0% | 270M-1.3% | 274M-0.2% | 274M-1.2% | 278M-3.0% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 5.12B+24.5% | 4.11B-12.7% | 4.71B+2.9% | 4.58B+7.2% | 4.27B+10.7% | ||
| Depreciation & amortization | 924M+4.3% | 886M+2.7% | 863M-2.4% | 884M-0.7% | 890M+1.4% | |
| Intangible amortization | 174M-3.3% | 180M-7.2% | 194M-4.0% | 202M-10.6% | 226M-13.4% | |
| Share-based compensation | 196M+7.1% | 183M+1.1% | 181M+9.7% | 165M+31.0% | 126M-1.6% | |
| Deferred income taxes | 256M+397.7% | -86.0M+51.4% | -177M+0.6% | -178M-169.7% | -66.0M+48.0% | |
| Change in receivables | -556M-3375.0% | -16.0M+57.9% | -38.0M+17.4% | -46.0M+66.7% | -138M+62.8% | |
| Change in inventory | -450M-137.7% | 1.20B-46.1% | 2.22B+126.4% | 980M+342.0% | -405M+19.3% | |
| Change in payables | -664M-368.8% | 247M+181.5% | -303M-235.3% | 224M+15.5% | 194M+190.2% | |
| -1.28B-34.7% | -953M-1.3% | -941M+36.8% | -1.49B-68.8% | -882M+9.4% | ||
| Capital expenditure | 1.16B+26.7% | 916M+1.3% | 904M-18.9% | 1.11B+25.6% | 887M-8.3% | |
| Free cash flow | 3.96B+23.9% | 3.20B-16.0% | 3.81B+9.8% | 3.46B+2.4% | 3.38B+17.1% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00-100.0% | |
| Other investing activities | 123M+232.4% | 37.0M+0.0% | 37.0M-90.1% | 375M+7600.0% | -5.00M-171.4% | |
| -3.19B+5.3% | -3.37B-8.9% | -3.09B+10.9% | -3.47B+24.4% | -4.59B-408.3% | ||
| Long-term debt issued | 747M | 0.00 | 0.00 | 0.00-100.0% | 1.50B-62.2% | |
| Long-term debt repaid | 1.50B+200.0% | 500M-60.0% | 1.25B+25.0% | 1.00B | 0.00-100.0% | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 637M-57.6% | 1.50B+245.9% | 434M-64.7% | 1.23B-32.8% | 1.83B+211.4% | |
| Dividends paid | 1.59B+4.2% | 1.53B+7.1% | 1.43B+4.3% | 1.37B+4.1% | 1.31B+6.0% | |
| Other financing activities | -207M-228.6% | 161M+794.4% | 18.0M-85.8% | 127M+126.8% | 56.0M+158.9% | |
| Net change in cash | 636M+394.4% | -216M-132.2% | 671M+285.9% | -361M+70.4% | -1.22B-163.5% | |
| Interest paid | 376M-2.3% | 385M+1.9% | 378M-1.3% | 383M-11.5% | 433M-5.7% | |
| Income taxes paid | 568M+1.4% | 560M-49.1% | 1.10B-11.6% | 1.25B+68.2% | 740M-3.1% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 91.0B+27.8% | 71.2B+0.5% | 70.9B+4.0% | 68.1B+17.7% | 57.9B+35.9% | |
| P/E | 21.6×+14.8% | 18.8×-12.2% | 21.5×+5.5% | 20.3×+14.4% | 17.8×+32.1% | |
| P/S | 1.7×+16.0% | 1.5×-12.7% | 1.7×-2.5% | 1.8×+16.5% | 1.5×+34.0% | |
| P/B | 3.6×+10.0% | 3.2×-9.1% | 3.6×-8.0% | 3.9×+17.6% | 3.3×+20.6% | |
| P/FCF | 23.0×+3.2% | 22.3×-2.8% | 22.9×+54.5% | 14.9×-13.2% | 17.1×+16.1% | |
| Earnings yield | 4.6%-12.9% | 5.3%+13.9% | 4.7%-5.3% | 4.9%-12.6% | 5.6%-24.3% | |
| FCF yield | 4.3%-3.1% | 4.5%+2.9% | 4.4%-35.3% | 6.7%+15.2% | 5.8%-13.9% | |
| Dividend yield | 1.7%-18.5% | 2.1%+6.9% | 2.0%-0.2% | 2.0%-11.5% | 2.3%-22.0% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: GD’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all GD filings on SEC EDGAR → Not investment advice.