GD GENERAL DYNAMICS CORP

Overview and Growth

In fiscal 2025, GENERAL DYNAMICS CORP recorded $52.55B of revenue, net income of $4.21B, and an operating cash inflow of $5.12B. The $52.55B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 10.1% above fiscal 2024 revenue of $47.72B, marking a year-over-year increase. On a per-share basis, diluted EPS was $15.45, which connects the reported earnings outcome with the company’s diluted share count. Diluted EPS increased by 13.4% from $13.63 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. The revenue-to-assets relationship was 0.92x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

Operations produced $5.36B of income after the reported operating expense base, before the remaining non-operating and tax effects. The operating result equaled 10.2% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. The bottom-line result was net income of $4.21B, after the operating, financing, tax, and other items recognized for the period. Measured against reported revenue, net income produced a 8.0% margin after operating costs and the remaining recognized items. Before income taxes, the company reported $5.10B of earnings, providing a bridge between the operating result and final net income. Pretax income represented 9.7% of revenue, placing earnings before tax in the context of the company’s operating scale. The company recognized $893.00M of income tax for the period, completing the transition from pretax income to net income. The income-tax provision equaled 17.5% of pretax income, showing the tax burden absorbed by the year’s earnings. Net income equaled 16.4% of period-end equity, showing the earnings generated on shareholders’ book capital.

Liquidity and Capital Structure

The company held $57.25B of assets against $31.63B of liabilities and $25.62B of equity, revealing how the asset base was financed. Current assets were $24.25B against $16.80B of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. At 1.44x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Cash and equivalents totaled $2.33B, identifying the most liquid reported component available within the broader current-asset balance. The cash balance equaled 13.9% of current liabilities, showing how much near-term coverage came from cash alone. Borrowings totaled $8.01B, adding a fixed financing obligation alongside the company’s equity capital. Debt equaled 0.31x of book equity, describing the relative scale of borrowing and shareholder capital. Relative to total assets, debt measured 14.0%, showing how much of the asset base was matched by borrowing. Liabilities represented 55.2% of total assets, quantifying the liability-funded share of the company’s resource base. Measured against total assets, cash and equivalents represented 4.1%, a balance-sheet composition measure rather than a liquidity forecast. Total assets were 2.4% higher than fiscal 2024 assets of $55.88B, measuring the company’s own balance-sheet change.

Cash Flow and Earnings Quality

The company reported $5.12B of operating cash flow, a cash inflow that shows the cash generated by operations. The operating-cash-flow-to-net-income relationship was 1.22x, comparing cash generated by operations with the bottom-line earnings result. The cash-flow statement records $1.16B of capital expenditures, the investment amount considered after operating cash generation. Capital spending absorbed 22.7% of operating cash flow, quantifying the share of cash from operations directed to investment. The combination of operating cash flow and capital spending produced $3.96B of positive free cash flow for the period. Free cash flow represented 7.5% of revenue, linking post-investment cash generation with the company’s operating scale. The free-cash-flow-to-assets relationship was 6.9%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.