| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | 1 | 1 | — | 1 | 4 | — | 1 | 1 | 1 | 3 | — |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 6.27 |
—
—
—
—
|
| 2025 | 5.92 |
—
—
—
—
|
| 2024 | 5.58 |
—
—
—
—
|
| 2023 | 5.22 |
—
—
—
—
|
| 2022 | 4.97 |
—
—
—
—
|
| 2021 | 4.67 |
—
—
—
—
|
| 2020 | 4.32 |
—
—
—
—
|
| 2019 | 3.99 |
—
—
—
—
|
| 2018 | 3.63 |
—
—
—
—
|
| 2017 | 3.28 |
—
—
—
—
|
| 2016 | 2.97 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 1,913.00 | 1,697.00 | 2,333.00 | 4,333.00 |
| Receivables | 11,001.00 | 11,225.00 | 10,786.00 | 11,653.00 |
| Inventory | 8,578.00 | 9,724.00 | 9,232.00 | 9,097.00 |
| Other | 2,123.00 | 1,740.00 | 1,897.00 | 1,955.00 |
| 23,615.00 | 24,386.00 | 24,248.00 | 27,038.00 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 3,095.00 | 3,344.00 | 2,678.00 | 2,874.00 |
| ST’ Debt | 507.00 | 1,502.00 | 1,006.00 | 1,256.00 |
| Other | 3,266.00 | 3,487.00 | 3,288.00 | 3,601.00 |
| 16,432.00 | 17,824.00 | 16,796.00 | 18,765.00 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 13,481.00 | 14,094.00 | — | — |
—
|
| ’25 | 12,223.00 | 13,041.00 | 12,907.00 | 14,379.00 |
52,550.00
|
| ’24 | 10,731.00 | 11,976.00 | 11,671.00 | 13,338.00 |
47,716.00
|
| ’23 | 9,881.00 | 10,152.00 | 10,571.00 | 11,668.00 |
42,272.00
|
| ’22 | 9,392.00 | 9,189.00 | 9,975.00 | 10,851.00 |
39,407.00
|
| ’21 | 9,389.00 | 9,220.00 | 9,568.00 | 10,292.00 |
38,469.00
|
| ’20 | 8,749.00 | 9,264.00 | 9,431.00 | 10,481.00 |
37,925.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 2,155.00 | 1,880.00 | — | — |
—
|
| ’25 | (148.00) | 1,598.00 | 2,109.00 | 1,561.00 |
5,120.00
|
| ’24 | (278.00) | 814.00 | 1,416.00 | 2,160.00 |
4,112.00
|
| ’23 | 1,462.00 | 731.00 | 1,321.00 | 1,196.00 |
4,710.00
|
| ’22 | 1,968.00 | 659.00 | 1,283.00 | 669.00 |
4,579.00
|
| ’21 | 3.00 | 1,115.00 | 1,471.00 | 1,682.00 |
4,271.00
|
| ’20 | (666.00) | 843.00 | 1,119.00 | 2,562.00 |
3,858.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 1,952.00 | 1,646.00 | — | — |
—
|
| ’25 | (290.00) | 1,400.00 | 1,897.00 | 952.00 |
3,959.00
|
| ’24 | (437.00) | 613.00 | 1,215.00 | 1,805.00 |
3,196.00
|
| ’23 | 1,301.00 | 519.00 | 1,094.00 | 892.00 |
3,806.00
|
| ’22 | 1,827.00 | 435.00 | 1,028.00 | 175.00 |
3,465.00
|
| ’21 | (131.00) | 943.00 | 1,275.00 | 1,297.00 |
3,384.00
|
| ’20 | (851.00) | 622.00 | 903.00 | 2,217.00 |
2,891.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 4.10 | 4.24 | — | — |
—
|
| ’25 | 3.66 | 3.74 | 3.88 | 4.17 |
15.46
|
| ’24 | 2.88 | 3.26 | 3.35 | 4.15 |
13.63
|
| ’23 | 2.64 | 2.70 | 3.04 | 3.64 |
12.02
|
| ’22 | 2.61 | 2.75 | 3.26 | 3.58 |
12.19
|
| ’21 | 2.48 | 2.61 | 3.07 | 3.39 |
11.55
|
| ’20 | 2.43 | 2.18 | 2.90 | 3.49 |
11.00
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 200.65 | 202.35 | 247.36 | 239.20 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 256.86 | 259.88 | 316.90 | 360.50 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 106,500 | 111,600 | 117,000 | 117,000 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.37 | 0.38 | 0.41 | 0.45 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 39,407.00 | 42,272.00 | 47,716.00 | 52,550.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 16.80% | 15.78% | 15.43% | 15.13% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4,036.00 | 3,984.00 | 4,540.00 | 5,103.00 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 10.24% | 9.42% | 9.51% | 9.71% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3,390.00 | 3,315.00 | 3,782.00 | 4,210.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 884.00 | 863.00 | 886.00 | 924.00 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 143.14 | 154.76 | 174.24 | 195.30 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 12.31 | 12.14 | 13.81 | 15.65 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 16.63 | 17.24 | 15.02 | 19.03 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (4.05) | (3.31) | (3.34) | (4.31) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 12.59 | 13.93 | 11.67 | 14.71 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 67.44 | 77.98 | 80.56 | 95.22 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 275.31 | 273.14 | 273.86 | 269.08 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 20.20 | 21.32 | 19.08 | 21.54 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.74 | 1.67 | 1.51 | 1.72 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.69 | 3.32 | 3.27 | 3.54 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.97 | 1.84 | 1.66 | 1.83 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 22.42 | 20.49 | 24.79 | 24.32 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4,579.00 | 4,710.00 | 4,112.00 | 5,120.00 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1,114.00) | (904.00) | (916.00) | (1,161.00) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3,465.00 | 3,806.00 | 3,196.00 | 3,959.00 | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5,722.00 | 7,183.00 | 6,562.00 | 7,452.00 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 10,496.00 | 9,261.00 | 8,762.00 | 8,013.00 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9,254.00 | 7,348.00 | 7,065.00 | 5,680.00 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 18,568.00 | 21,299.00 | 22,063.00 | 25,622.00 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6.67% | 6.23% | 6.83% | 7.44% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | 9.46% | 9.26% | 10.29% | 10.69% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 18.72% | 16.63% | 17.44% | 17.66% | — | — | — |
ROE
|
General Dynamics (GD) exemplifies resilience in the defense sector, with revenue poised to nearly double from $30.6 billion in 2016 to $59.6 billion by 2028, fueled by escalating U.S. defense budgets amid geopolitical shifts like the Russia-Ukraine conflict and AUKUS pact. Key segments shine: Marine Systems benefits from Virginia- and Columbia-class submarine backlogs exceeding $90 billion, Aerospace rebounds via Gulfstream jets, and the 2018 CSRA acquisition bolsters high-margin IT services. Despite gross margins contracting to 10.2% by 2025 due to fixed-price contracts and inflation, productivity surges—with revenue per employee up 45%—drive EPS from $9.70 to a projected $19.62 (102% growth) and free cash flow per share to $14.71, supporting buybacks, dividends, and aggressive deleveraging (net debt down 44%).
Free cash flow fortitude and capital discipline have underpinned steady stock gains, delivering 10-15% annualized returns since 2016, outpacing markets during recent defense spending surges to $886 billion NDAA levels. Valuation remains compelling at 21x forward PE, 1.7x PS, and contracting EV/Sales to 1.6x by 2028, with ROE steady at 17-18% and ROIC improving to 10.7%. Yet, insider sells totaling $177 million in 2025 signal caution at cycle peaks, amid risks like program delays.
Analysts project 10-12% revenue CAGR through 2028, positioning GD as a compounding machine with 30-50% total return potential if execution holds—warranting a hold-to-buy stance on dips in this secular upcycle.
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