GDGeneral Dynamics
Is the business good?
The checks split: margins steady and returns not propped up by debt.
Profits are tracking sales roughly one-for-one, limited operating leverage either way.
A balanced mix of margins, efficiency, and leverage. ROE 17% = margin × turnover × leverage.
All from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is GD?
General Dynamics earns 15% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
Return on invested capital · cost of capital 9.0% · 6.0 points above what the capital costs: growth creates value
- Operating margin
- 10%
Operating margin · Aerospace & Defense median 9.6% · 12 months to Q2 2026
- Share count, year on year
- +0.95%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 11% |
| FY2021 | 11% |
| FY2022 | 11% |
| FY2023 | 10% |
| FY2024 | 10% |
| FY2025 | 10% |
Details›
- Operating margin12 months to Q2 2026
- 10%
- Net margin12 months to Q2 2026
- 8.2%
- Revenue, trailing twelve months
- $54.9B
- Net income, trailing twelve months
- $4.49B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 15%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from GD and who it buys from, as the companies report it.
- U.S. government68%
Share of revenue · FY2025 10-K
None disclosed.
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; GD’s own figures are from its FY2025 10-K. Smaller customers and suppliers go unreported.
Aerospace & Defense
The closest names by size in the same industry