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Stocks / United States / GD · Ship & Boat Building & Repairing · NYSE

General Dynamics Corp. (GD)

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General Dynamics Corp. (GD) reported revenue of $13.5 billion for Q1 FY2026, the quarter ended 5 April 2026, up 10.3% on the same quarter a year earlier. Net income was $1.1 billion, up 13.2% on the year. The figures are the company's own, from the 10-Q it filed with the SEC on 29 April 2026.

Revenue$13.5 billionup 10.3%
Net income$1.1 billionup 13.2%
Diluted EPSn/a
QuarterQ1 FY2026ended 5 April 2026

Ratios

From the filings

ROE16.6%
ROCE16.1%
Operating margin10.2%
Net margin8.1%
FCF margin11.5%
Interest covern/a
Debt to equity0.31
Cash conversion1.71
Share count, 1 year0.8%
Sales CAGR, 3 years10.1%
Profit CAGR, 3 years7.5%
EPS, TTMn/a

At the close of 21 September 2026

Price$353.90
Market cap$95.7 billion
Stock P/E22.22
Price to book3.67
EV / EBITDA15.54
Dividend yieldn/a
Market cap / sales1.78
52-week high$395.97
52-week low$312.53
Price, 1 year9.2%
Price CAGR, 3 years17.5%
Price CAGR, 5 years12.8%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on the total debt General Dynamics Corp. states in its own filing, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on GD

Filings23 in twelve months: 9 current reports (8-K), about 4 results of operations; 3 officer or director change; 1 other events; 1 shareholder vote
Planned insider sales15 Form 144 notices in twelve months, $1.39 billion; latest 28 August 2026
Options tapeput/call 0.53 by open interest on 23 September 2026; the straddle prices a 1.9% move to 25 September 2026
Holders10 of the followed funds hold it; largest Geode Capital Management; 4 Schedule 13D or 13G filings in twelve months
Insider trading19 sales and 0 purchases on Form 4 in twelve months
Congress3 House trades disclosed in six months
Short interest2.8 million shares short, 3.37 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026
Revenue10,15210,57111,66810,73111,97611,67113,33812,22313,04112,90714,37913,481
Operating income9621,0571,2881,0361,1561,1811,4231,2681,3051,3311,4521,420
Operating margin9%10%11%10%10%10%11%10%10%10%10%11%
Pre-tax income8869911,2279681,0901,1141,3681,2001,2321,2721,3991,369
Tax rate16%16%18%17%17%17%16%17%18%17%18%18%
Net income7448361,0057999059301,1489941,0141,0591,1431,125
Net margin7%8%9%7%8%8%9%8%8%8%8%8%
Operating cash flow7311,3211,196-2788141,4162,160-1481,5982,1091,5612,155
Capital expenditure212227304159201201355142198212609203
Free cash flow5191,094892-4376131,2151,805-2901,4001,8979521,952
Buybacks28856.00.010534.044.01,3186000.00.037.0217
Dividends paid360363360361389390389383402403405405
Shares outstanding273m273m274m274m275m275m270m268m269m270m270m270m
Filing10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

FY2014FY2015 FY2016 FY2017 FY2018 FY2019 FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue30,85231,78130,56130,97336,19339,35037,92538,46939,40742,27247,71652,55053,808
Cost of revenue15,33515,98624,89624,73129,47832,291n/an/an/an/an/an/an/a
Gross profit15,51715,5986,4576,2426,7157,059n/an/an/an/an/an/an/a
Gross margin50.3%49.1%21.1%20.2%18.6%17.9%n/an/an/an/an/an/an/a
Operating income3,8894,2953,7444,2364,3944,5704,1334,1634,2114,2454,7965,3565,508
Operating margin12.6%13.5%12.3%13.7%12.1%11.6%10.9%10.8%10.7%10.0%10.1%10.2%10.2%
Interest expense10398.099.0117374472489431391399n/an/an/a
Pre-tax income3,8024,2193,6564,0774,0854,2023,7383,8734,0363,9844,5405,1035,272
Income tax1,1291,1839771,165727718571616646669758893931
Effective tax rate29.7%28.0%26.7%28.6%17.8%17.1%15.3%15.9%16.0%16.8%16.7%17.5%17.7%
Net income2,5333,0362,5722,9123,3453,4843,1673,2573,3903,3153,7824,2104,341
Net margin8.2%9.6%8.4%9.4%9.2%8.9%8.4%8.5%8.6%7.8%7.9%8.0%8.1%
Diluted EPS$7.42$9.08$9.52$9.56$11.18$11.98$11.00$11.55$12.19$12.02$13.63$15.45n/a
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2014FY2015 FY2016 FY2017 FY2018 FY2019 FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow3,7282,499n/a3,8763,1482,9813,8584,2714,5794,7104,1125,1207,423
Capital expenditure5215693924286909879678871,1149049161,1611,222
Free cash flow3,2071,930n/a3,4482,4581,9942,8913,3843,4653,8063,1963,9596,201
Free cash flow margin10.4%6.1%n/a11.1%6.8%5.1%7.6%8.8%8.8%9.0%6.7%7.5%11.5%
Depreciation and amortisation496481453441763829878890884863886924933
Share-based compensation12898.095.0123140133128126165181183196202
Buybacks3,3823,2331,9961,5581,7692315871,8281,2294341,501637254
Dividends paid8228739119861,0751,1521,2401,3151,3691,4281,5291,5931,615
Diluted shares, weighted341m327m310m305m299m291m288m282m278m276m277m272m274m
Shares outstanding at period end332m313m302m297m289m290m286m278m274m274m270m270m270m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014FY2015 FY2016 FY2017 FY2018 FY2019 FY2020FY2021FY2022FY2023FY2024FY2025TTM
Total assets35,35532,53833,17235,04645,88749,34951,30850,07351,58554,81055,88057,24959,029
Cash and equivalents4,3882,7852,3342,9839639022,8241,6031,2421,9131,6972,3333,654
Receivables4,0503,4463,3993,6173,7593,5443,1613,0413,0083,0042,9772,4062,254
Inventory3,2213,3665,1185,3035,9776,3065,7455,3406,3228,5789,7249,2329,177
Goodwill11,73111,44311,44511,91419,59419,67720,05320,09820,33420,58620,55621,00920,956
Total debt, as filedn/an/an/a4,03212,51812,00513,11711,60610,5909,3408,8268,0748,072
Long-term debt3,9113,4253,9244,03212,51812,00513,11711,60610,5909,3408,8268,0746,259
Borrowings, as the company tags them3,9253,4253,9244,032n/an/an/an/an/an/an/an/an/a
Operating lease liabilitiesn/an/an/an/a0.01,2511,1491,0851,1061,1151,1331,1241,511
Finance lease liabilitiesn/an/an/an/an/a287255258224382462353n/a
Shareholders' equity11,82910,44010,30111,80112,11013,97815,66117,64118,56821,29922,06325,62226,079
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded5.2%6.7%10.1%9.3%
Profit growth, compounded3.3%5.9%7.5%9.2%
Return on equity, average20.8%17.2%16.4%16.4%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Ship & Boat Building & Repairing

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
General Dynamics Corp. GD$95.7 billion22.2216.6%10.2%9.3%0.31n/a
Huntington Ingalls Industries, Inc. HII$10.9 billion16.4312.4%5.3%14.0%0.512.0%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q5 July 202629 July 2026EDGAR
10-Q5 April 202629 April 2026EDGAR
10-K31 December 202530 January 2026EDGAR
10-Q28 September 202524 October 2025EDGAR
10-Q29 June 202523 July 2025EDGAR
10-Q30 March 202523 April 2025EDGAR
10-K31 December 20247 February 2025EDGAR
10-Q29 September 202423 October 2024EDGAR
10-Q30 June 202424 July 2024EDGAR
10-Q31 March 202424 April 2024EDGAR

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