Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

General Dynamics

GD stock analysis · Industrials · Aerospace & Defense

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$354.24HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$95.8B

Price × SEC outstanding shares. Shares measured 2026-04-05. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

$222.35

Equity cash-flow scenario · SEC outstanding shares at 2026-04-05 · -37.2% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

16.5%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

57.9%

11 industry peers · median 35.9×

How this is calculated ↗
Valuation

Historical multiples

21.0×

7 annual observations · snapshot P/E 22.8× · 8.6% versus history

How this is calculated ↗
Valuation

Free cash flow yield

4.1%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

14.0%

Normalized tax · financing-capital proxy · parent-equity fallback (scope limitation) · short-term borrowing coverage incomplete

How this is calculated ↗
Valuation

Value composite

72/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

2.4%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

-1.6%

Parent-earnings fallback versus consolidated cash flow · scope limitation

How this is calculated ↗
Momentum

Fundamental momentum

3.8%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 5.1B2020-12-31: cfo $3,858,000,000.002020-12-31: capex $967,000,000.0020202021-12-31: cfo $4,271,000,000.002021-12-31: capex $887,000,000.0020212022-12-31: cfo $4,579,000,000.002022-12-31: capex $1,114,000,000.0020222023-12-31: cfo $4,710,000,000.002023-12-31: capex $904,000,000.0020232024-12-31: cfo $4,112,000,000.002024-12-31: capex $916,000,000.0020242025-12-31: cfo $5,120,000,000.002025-12-31: capex $1,161,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$278.90$304.30$331.62
10.0%$204.37$222.35$241.66
12.0%$161.24$174.95$189.67

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-3152.6B4.2B5.1B1.2B57.2B
2024-12-3147.7B3.8B4.1B916M55.9B
2023-12-3142.3B3.3B4.7B904M54.8B
2022-12-3139.4B3.4B4.6B1.1B51.6B
2021-12-3138.5B3.3B4.3B887M50.1B
2020-12-3137.9B3.2B3.9B967M51.3B
2019-12-3139.4B3.5B3B987M49.3B
2018-12-3136.2B3.3B3.1B690M45.9B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue52.6BRevenueFromContractWithCustomerExcludingAssessedTax2026-01-30
netIncome4.2BNetIncomeLoss
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-01-30
Parent/common earnings proxy4.2BNetIncomeLoss2026-01-30
cfo5.1BNetCashProvidedByUsedInOperatingActivities2026-01-30
capex1.2BPaymentsToAcquirePropertyPlantAndEquipment2026-01-30
operatingIncome5.4BOperatingIncomeLoss2026-01-30
assets57.2BAssets2026-01-30
equity25.6BStockholdersEquity
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-01-30
Parent book equity proxy25.6BStockholdersEquity2026-01-30
debt8.1BLongTermDebt2026-01-30
shortDebtNot reported under a supported tag
cash2.3BCashAndCashEquivalentsAtCarryingValue2026-01-30
shares272.4MWeightedAverageNumberOfDilutedSharesOutstanding2026-01-30
dividends1.6BPaymentsOfDividends2026-01-30
buybacks637MPaymentsForRepurchaseOfCommonStock2026-01-30
issuanceNot reported under a supported tag