General Dynamics (GD) FY2021 results: revenue $38.5 billion, up 1.4% on the year
General Dynamics Corp. (GD) reported revenue of $38.5 billion for fiscal 2021, the year ended 31 December 2021, up 1.4% on the year before. Net income was $3.3 billion, up 2.8%, and diluted earnings per share $11.55. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2022.
Revenue
$38.5 billion
+1.4% on the year
FY2014FY2021
Operating margin
10.8%
10.9% a year earlier
FY2014FY2021
Net income
$3.3 billion
+2.8% on the year
FY2014FY2021
Diluted EPS
$11.55
+5.0% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
4,271
3,858
2,981
+10.7%
Capital expenditure
887
967
987
-8.3%
Free cash flow
3,384
2,891
1,994
+17.1%
Free cash flow margin
8.8%
7.6%
5.1%
Cash from investing
-882
-974
-994
Cash from financing
-4,590
-903
-1,997
Depreciation and amortisation
890
878
829
+1.4%
Share-based compensation
126
128
133
-1.6%
Buybacks
1,828
587
231
+211.4%
Dividends paid
1,315
1,240
1,152
+6.0%
Diluted shares, weighted
282m
288m
291m
-2.0%
Shares outstanding at period end
278m
286m
290m
-3.1%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
17,641
15,661
13,978
+12.6%
Debt
11,606
13,117
12,005
-11.5%
Operating lease liabilities
1,085
1,149
1,251
-5.6%
Finance lease liabilities
258
255
287
+1.2%
Other liabilities
19,483
21,126
21,828
-7.8%
Total liabilities and equity
50,073
51,308
49,349
-2.4%
Fixed assets
5,417
5,100
4,475
+6.2%
Goodwill
20,098
20,053
19,677
+0.2%
Intangible assets
1,978
2,117
2,315
-6.6%
Trading assets
0.0
0.0
0.0
Cash and equivalents
1,603
2,824
902
-43.2%
Receivables
3,041
3,161
3,544
-3.8%
Inventory
5,340
5,745
6,306
-7.0%
Other assets
12,596
12,308
12,130
+2.3%
Total assets
50,073
51,308
49,349
-2.4%
10-K for the year ended 31 December 2021, filed 9 February 2022: the filing.