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General Dynamics Corporation

GD Industrials Aerospace & Defense

General Dynamics Corporation’s revenue for fiscal 2025 (year ended December 2025) was $52.6 billion, up 10.1% from fiscal 2024. In the quarter to June 2026, revenue grew 8.07%, EPS grew 13.5%, free cash flow grew 17.6% and total debt fell 13.7%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for twenty-five consecutive years, revenue growth for five.

331.27 1.37 +0.42%
Market cap
$89.3B
P/E
20.0×
Fwd P/E
20.8×
Dividend yield
1.89%
F-score
8/9
Altman Z
4.18
Beneish M
−2.52
Dividend safety
96/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

General Dynamics Corporation (GD) Piotroski F-score

Alert me on Piotroski F-score

General Dynamics Corporation's Piotroski F-score for fiscal 2025 is 8 out of 9: 8 of nine tests of profitability, leverage and efficiency passed, up from 6 in fiscal 2024.

Piotroski F-score, annual

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Annual newest first

Period Piotroski F-score Change (points)
FY2025 8 2.00
FY2024 6 (1.00)
FY2023 7 (1.00)
FY2022 8 1.00
FY2021 7 2.00
FY2020 5 1.00
FY2019 4 1.00
FY2018 3 (4.00)
FY2017 7 3.00
FY2016 4 —

How fiscal 2025’s score is made up

Test This year Year before Result Points
Positive return on assets 7.44% 6.83% Pass 1
Positive operating cash flow 5.12b 4.11b Pass 1
Rising return on assets 7.44% 6.83% Pass 1
Cash flow above net income 910.00m 330.00m Pass 1
Falling long-term leverage 0.12 0.13 Pass 1
Rising current ratio 1.44 1.37 Pass 1
No new shares issued 269,080,000 273,858,000 Pass 1
Rising gross margin 15.13% 15.43% Fail 0
Rising asset turnover 0.93 0.86 Pass 1
Piotroski F-score Strong — most fundamentals improved 8

How the Piotroski F-score works

One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.

Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:

7–9Strong — most fundamentals improved
4–6Mixed
0–3Weak — most fundamentals deteriorated

Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.

Piotroski F-score against peers

Company Piotroski F-score
HWM Howmet Aerospace Inc. compare 8
GD General Dynamics Corporation 8
LHX L3Harris Technologies Inc compare 8
TDG Transdigm Group Incorporated compare 7
HEI Heico Corporation compare 7
LMT Lockheed Martin Corporation compare 6
NOC Northrop Grumman Corporation compare 6
BA The Boeing Company compare 6
RKLB Rocket Lab Corporation compare 5

What Piotroski F-score is

The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.

One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover

The full definition of Piotroski F-score →

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