General Dynamics Corporation (GD) vs Space Exploration Technologies Corp. (SPCX)

General Dynamics Corporation and Space Exploration Technologies Corp. are both Aerospace & Defense companies. Space Exploration Technologies Corp. is the larger, with a market value of $1.68T against $96.3B — 17.4× the size. Space Exploration Technologies Corp. has negative trailing earnings, so its P/E is not meaningful; General Dynamics Corporation trades at 20.7×. General Dynamics Corporation has the higher net margin (8.24% vs −10.7%) and the higher return on invested capital (12.2% vs −0.33%). Both pay a dividend; Space Exploration Technologies Corp. yields more (2.87% vs 1.76%). Across the 18 metrics below, General Dynamics Corporation leads on 13 and Space Exploration Technologies Corp. on 5.

Valuation

Metric GD SPCX Aerospace & Defense median
P/E 20.71 n/m 28.48
P/S 1.71 46.62 2.95
P/B 3.53 8.45 2.68
Price to free cash flow 16.69 n/m 31.70
EV/EBITDA 14.55 140.42 16.85
EV/Sales 1.75 45.03 2.74
Earnings yield 4.83% (1.43%) 0.89%
Free cash flow yield 5.99% (2.63%) 0.00%

Profitability

Metric GD SPCX Aerospace & Defense median
Gross margin 15.42% 56.74% 26.41%
Operating margin 10.37% (2.08%) 3.69%
Net margin 8.24% (10.71%) 2.74%
Free cash flow margin 10.22% (122.62%) 0.00%
Return on equity 18.01% (3.78%) 4.44%
Return on assets 7.91% (2.21%) 1.90%
Return on invested capital 12.24% (0.33%) 0.26%

Growth

Metric GD SPCX Aerospace & Defense median
Revenue growth (TTM) 9.73% — 18.03%
EPS growth (last fiscal year) 13.43% (93,838.89%) 24.80%
Revenue growth, 5-year CAGR 6.74% — 9.73%
Net income growth, 5-year CAGR 5.86% — 0.00%

Health

Metric GD SPCX Aerospace & Defense median
Debt to equity 0.26 0.22 0.20
Current ratio 1.43 3.08 2.85
Net debt to EBITDA 0.90 (0.44) 1.29

Dividend

Metric GD SPCX Aerospace & Defense median
Dividend yield 1.76% 2.87% 0.91%
Payout ratio 0.37 — 0.30

Size

Metric GD SPCX Aerospace & Defense median
Market cap 96.29b 1.68t 1.78b

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