General Dynamics (GD) FY2024 results: revenue $47.7 billion, up 12.9% on the year
General Dynamics Corp. (GD) reported revenue of $47.7 billion for fiscal 2024, the year ended 31 December 2024, up 12.9% on the year before. Net income was $3.8 billion, up 14.1%, and diluted earnings per share $13.63. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2025.
Revenue
$47.7 billion
+12.9% on the year
FY2017FY2024
Operating margin
10.1%
10.0% a year earlier
FY2017FY2024
Net income
$3.8 billion
+14.1% on the year
FY2017FY2024
Diluted EPS
$13.63
+13.4% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
4,112
4,710
4,579
-12.7%
Capital expenditure
916
904
1,114
+1.3%
Free cash flow
3,196
3,806
3,465
-16.0%
Free cash flow margin
6.7%
9.0%
8.8%
Cash from investing
-953
-941
-1,489
Cash from financing
-3,369
-3,094
-3,471
Depreciation and amortisation
886
863
884
+2.7%
Share-based compensation
183
181
165
+1.1%
Buybacks
1,501
434
1,229
+245.9%
Dividends paid
1,529
1,428
1,369
+7.1%
Diluted shares, weighted
277m
276m
278m
+0.6%
Shares outstanding at period end
270m
274m
274m
-1.2%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
22,063
21,299
18,568
+3.6%
Debt
8,826
9,340
10,590
-5.5%
Operating lease liabilities
1,133
1,115
1,106
+1.6%
Finance lease liabilities
462
382
224
+20.9%
Other liabilities
23,396
22,674
21,097
+3.2%
Total liabilities and equity
55,880
54,810
51,585
+2.0%
Fixed assets
6,467
6,198
5,900
+4.3%
Goodwill
20,556
20,586
20,334
-0.1%
Intangible assets
1,520
1,656
1,824
-8.2%
Trading assets
0.0
0.0
0.0
Cash and equivalents
1,697
1,913
1,242
-11.3%
Receivables
2,977
3,004
3,008
-0.9%
Inventory
9,724
8,578
6,322
+13.4%
Other assets
12,939
12,875
12,955
+0.5%
Total assets
55,880
54,810
51,585
+2.0%
10-K for the year ended 31 December 2024, filed 7 February 2025: the filing.