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General Dynamics Corporation (GD) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

INDUSTRIALS · Aerospace & Defense · DATA UPDATED 2026-07-13

General Dynamics Corporation (GD) operates in the Aerospace & Defense industry and is headquartered in Reston, United States with about 110,000 employees. Its market capitalization is roughly $105 billion. In the fiscal year ended 2025-12-31, GD reported $52.5B in revenue and $4.2B in net income.

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies.

Interactive charts & full statements → Open the GD valuation workbench →

GD Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$53.8B	$52.5B	$47.7B	$42.3B	$39.4B	$38.5B	$37.9B	$39.4B	$36.2B	$31.0B	$30.6B	$31.8B	$30.9B	$30.9B	$31.0B	$32.7B	$32.5B	$32.0B	$29.3B	$27.2B	$24.1B
Gross Profit	$8.2B	$8.0B	$7.4B	$4.2B	$6.6B	$6.4B	$6.3B	$7.0B	$6.7B	$6.2B	$5.7B	$6.2B	$5.9B	$5.7B	$5.0B	$5.9B	$5.9B	$5.6B	$5.4B	$3.1B	$2.6B
Gross Margin %	15.2%	15.1%	15.4%	10.0%	16.8%	16.7%	16.7%	17.8%	18.4%	20.2%	18.5%	19.6%	19.0%	18.5%	16.1%	17.9%	18.2%	17.6%	18.3%	11.4%	10.9%
Operating Income (EBIT)	$5.5B	$5.4B	$4.8B	$4.2B	$4.2B	$4.2B	$4.1B	$4.6B	$4.4B	$4.2B	$3.7B	$4.3B	$3.9B	$3.7B	$765M	$3.8B	$3.9B	$3.7B	$3.7B	$3.1B	$2.6B
Operating Margin %	10.2%	10.2%	10.1%	10.0%	10.7%	10.8%	10.9%	11.6%	12.1%	13.7%	12.2%	13.5%	12.6%	11.9%	2.5%	11.7%	12.2%	11.5%	12.5%	11.4%	10.9%
Net Income	$4.3B	$4.2B	$3.8B	$3.3B	$3.4B	$3.3B	$3.2B	$3.5B	$3.3B	$2.9B	$2.6B	$3.0B	$2.5B	$2.4B	($332M)	$2.5B	$2.6B	$2.4B	$2.5B	$2.1B	$1.9B
Net Margin %	8.1%	8.0%	7.9%	7.8%	8.6%	8.5%	8.3%	8.8%	9.2%	9.4%	8.4%	9.6%	8.2%	7.6%	-1.1%	7.7%	8.1%	7.5%	8.4%	7.6%	7.7%
EBITDA	$6.3B	$6.1B	$5.8B	$4.2B	$5.3B	$5.2B	$5.1B	$5.5B	$5.2B	$4.6B	$4.2B	$4.8B	$4.4B	$4.2B	$1.2B	$4.5B	$4.5B	$4.2B	$4.2B	$3.6B	$3.1B
Earnings Per Share (EPS)	$15.92	$15.37	$13.63	$12.02	$12.19	$11.55	$11.00	$11.98	$11.18	$9.56	$8.29	$9.29	$7.42	$6.67	$-0.94	$6.87	$6.81	$6.17	$6.17	$5.08	$4.56
Shares Outstanding (M)	274M	274M	277M	276M	278M	282M	288M	291M	299M	305M	310M	327M	341M	354M	353M	368M	385M	388M	399M	408M	407M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

GD Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$13.5B	$14.4B	$12.9B	$13.0B	$12.2B	$13.3B	$11.7B	$12.0B
Gross Profit	$2.1B	$2.1B	$2.0B	$1.9B	$1.9B	$2.1B	$1.8B	$1.8B
Gross Margin %	15.9%	14.9%	15.2%	14.9%	15.5%	15.6%	15.6%	15.0%
Operating Income (EBIT)	$1.4B	$1.5B	$1.3B	$1.3B	$1.3B	$1.4B	$1.2B	$1.2B
Operating Margin %	10.5%	10.1%	10.3%	10.0%	10.4%	10.7%	10.1%	9.7%
Net Income	$1.1B	$1.1B	$1.1B	$1.0B	$994M	$1.1B	$930M	$905M
Net Margin %	8.3%	8.0%	8.2%	7.8%	8.1%	8.6%	8.0%	7.6%
EBITDA	$1.7B	$1.5B	$1.6B	$1.5B	$1.5B	$1.8B	$1.4B	$1.4B
Earnings Per Share (EPS)	$4.10	$4.17	$3.90	$3.74	$3.66	$4.15	$3.35	$3.26
Shares Outstanding (M)	274M	274M	272M	271M	272M	277M	278M	278M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

GD Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$7.4B	$5.1B	$4.1B	$4.7B	$4.6B	$4.3B	$3.9B	$3.0B	$3.1B	$3.9B	$2.2B	$2.5B	$3.7B	$3.1B	$2.7B	$3.2B	$3.0B	$2.8B	$3.1B	$2.9B	$2.1B
Capital Expenditures (CapEx)	$1.2B	$1.2B	$916M	$904M	$1.1B	$887M	$967M	$987M	$690M	$428M	$392M	$569M	$521M	$440M	$450M	$458M	$370M	$385M	$490M	$474M	$334M
Free Cash Flow (FCF)	$6.2B	$4.0B	$3.2B	$3.8B	$3.5B	$3.4B	$2.9B	$2.0B	$2.5B	$3.5B	$1.8B	$1.9B	$3.2B	$2.7B	$2.2B	$2.8B	$2.6B	$2.5B	$2.6B	$2.5B	$1.8B
FCF Margin %	11.5%	7.5%	6.7%	9.0%	8.8%	8.8%	7.6%	5.1%	6.8%	11.1%	5.9%	6.1%	10.4%	8.6%	7.2%	8.5%	8.1%	7.7%	8.9%	9.0%	7.5%
Dividends Paid	$1.6B	$1.6B	$1.5B	$1.4B	$1.4B	$1.3B	$1.2B	$1.2B	$1.1B	$986M	$911M	$873M	$822M	$591M	$893M	$673M	$631M	$577M	$533M	$445M	$359M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

GD Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$2.2B	$1.6B	$2.1B	$1.6B	($148M)	$2.2B	$1.4B	$814M
Capital Expenditures (CapEx)	$203M	$609M	$212M	$198M	$142M	$355M	$201M	$201M
Free Cash Flow (FCF)	$2.0B	$952M	$1.9B	$1.4B	($290M)	$1.8B	$1.2B	$613M
FCF Margin %	14.5%	6.6%	14.7%	10.7%	-2.4%	13.5%	10.4%	5.1%
Dividends Paid	$405M	$405M	$403M	$402M	$383M	$389M	$390M	$389M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

GD Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$59.0B	$57.2B	$55.9B	$54.8B	$51.6B	$50.1B	$51.3B	$48.8B	$45.4B	$35.0B	$32.9B	$32.0B	$35.4B	$35.4B	$34.3B	$34.9B	$32.5B	$31.1B	$28.4B	$25.7B	$22.4B
Cash & Cash Equivalents	$3.7B	$2.3B	$1.7B	$1.9B	$1.2B	$1.6B	$2.8B	$902M	$963M	$3.0B	$2.3B	$2.8B	$4.4B	$5.3B	$3.3B	$2.6B	$2.6B	$2.3B	$1.6B	$2.9B	$1.6B
Total Liabilities	$33.0B	$31.6B	$33.8B	$33.5B	$33.0B	$32.4B	$35.6B	$35.3B	$33.7B	$23.6B	$21.9B	$21.3B	$23.5B	$20.9B	$22.9B	$21.7B	$19.2B	$18.7B	$18.3B	$14.0B	$12.5B
Total Debt (Short + Long-Term)	$8.0B	$8.3B	$9.1B	$9.6B	$10.8B	$11.8B	$13.3B	$12.2B	$12.4B	$4.0B	$3.9B	$3.4B	$3.9B	$3.9B	$3.9B	$3.9B	$3.2B	$3.9B	$4.0B	$2.8B	$2.8B
Total Shareholders' Equity	$26.1B	$25.6B	$22.1B	$21.3B	$18.6B	$17.6B	$15.7B	$13.6B	$11.7B	$11.4B	$11.0B	$10.7B	$11.8B	$14.5B	$11.4B	$13.2B	$13.3B	$12.4B	$10.1B	$11.8B	$9.8B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive GD viewer.

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