General Dynamics CorporationGD
NYSE•Industrials•Aerospace & Defense
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support, customer support and custom completion services, modifications, upgrades, and lifecycle sustainment support services. The Marine Systems segment designs and builds nuclear-powered submarines, surface combatants, and auxiliary ships for the United States Navy and Jones Act ships for commercial customers, as well as provides maintenance, modernization, and lifecycle support services for navy ships; offers and program management, planning, engineering, and design support services for submarine construction programs. The Combat Systems segment manufactures land combat solutions, such as wheeled and tracked combat vehicles, Stryker wheeled combat vehicles, piranha vehicles, weapons systems, energetics and munitions, mobile bridge systems with payloads, tactical vehicles, main battle tanks, and armored vehicles; and offers modernization programs, support and sustainment services, and development programs. The Technologies segment provides information technology solutions and mission support services; mobile communication, computers, and command-and-control mission systems; intelligence, surveillance, and reconnaissance solutions to military, intelligence, and federal civilian customers; cloud services, cybersecurity, network modernization, artificial intelligence; machine learning; application development, high-performance computing, and 5G and advanced communications services; and unmanned undersea vehicle manufacturing and assembly services. The company was founded in 1899 and is headquartered in Reston, Virginia.
General Dynamics Corporation (GD) reported trailing twelve months revenue of $53.81B as of April 2026, a 9.3% increase year-over-year. Quarterly revenue reached $13.48B, reflecting continued top-line momentum.
General Dynamics Corporation generated $4.34B in TTM net income, with quarterly EBITDA of $1.70B. The operating margin expanded from 10.4% to 10.5%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (10.5%) and net margin (8.3%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 8.1% a year ago, signaling stronger bottom-line efficiency.
GD trades at a P/E of 21.9x (in line with broad market averages) and a P/S of 1.8x. The price-to-book ratio of 3.6x reflects a moderate premium to book value.
The company generated $1.95B in free cash flow over the trailing twelve months, a 773.1% increase year-over-year, indicating cash generation ability. The balance sheet shows $59.03B in total assets with $6.26B in long-term debt against $26.08B in stockholders equity for a debt-to-equity ratio of 0.2, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are stable at ~10.2%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 16.8% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~19.7% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~10.2% — no sign of cost or pricing stress.
FCF covers net income by 1.1x on average — earnings are well-supported by cash generation.
D/E ratio is 0.2 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation