General Dynamics (GD) Financial Statements & Analysis

General Dynamics (GD) Income Statement

General Dynamics reported revenue of $52.55B in fiscal 2025 (fiscal year ended Dec 31, 2025), up 10.1% from $47.72B a year earlier. Net income was $4.21B, up 11.3% year over year, a net margin of 8.0%. Gross margin was 15.1% and operating margin 10.2%. In the most recent quarter, Q2 fiscal 2026 (ended Jul 5, 2026), revenue was $14.09B, up 8.1% from the same quarter a year earlier.

General Dynamics Income Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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General Dynamics Corporation income statement - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	52.55	47.72	42.27	39.41	38.47	37.93	39.35	36.19	30.97
Cost of Revenue	44.60	40.35	35.60	32.79	32.06	31.60	32.36	29.54	24.73
Gross Profit	7.95	7.36	6.67	6.62	6.41	6.33	6.99	6.66	6.24
Operating Expenses
Research & Development	0.49	0.00	0.51	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	2.53	2.60	2.97	2.02	2.03	2.19	2.42	2.26	2.01
Operating Expenses	2.60	2.57	2.43	2.41	2.25	2.19	2.42	2.26	2.01
Operating Income	5.36	4.80	4.25	4.21	4.16	4.13	4.57	4.39	4.24
Other Income/Expense
Interest Income	0.09	0.07	0.06	0.03	0.01	0.01	0.01	0.02	0.01
Interest Expense	-0.40	-0.39	-0.40	-0.39	-0.43	0.49	0.47	0.37	0.12
Other Income/Expense	-0.25	-0.26	-0.26	-0.18	-0.29	-0.40	-0.37	-0.31	-0.16
Income
Income Before Tax	5.10	4.54	3.98	4.04	3.87	3.74	4.20	4.09	4.08
Income Tax Expense	0.89	0.76	0.67	0.65	0.62	0.57	0.72	0.73	1.17
Net Income	4.21	3.78	3.32	3.39	3.26	3.17	3.48	3.35	2.91
Net Income - Continuous Operations	4.21	3.78	3.32	3.39	3.26	3.17	3.48	3.35	2.91
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	6.34	5.66	4.57	5.49	5.27	5.11	5.50	5.22	4.64
EBIT	5.42	4.77	3.71	4.60	4.38	-	-	-	-
Depreciation & Amortization	0.92	0.89	0.86	0.88	0.89	0.88	0.83	0.76	0.44
Earnings Per Share
Basic EPS	16.00	14.00	12.00	12.00	12.00	11.00	12.00	11.00	10.00
Diluted EPS	15.00	14.00	12.00	12.00	12.00	11.00	12.00	11.00	10.00
Basic Shares Outstanding	0.27	0.27	0.27	0.28	0.28	0.29	0.29	0.30	0.30
Diluted Shares Outstanding	0.27	0.28	0.28	0.28	0.28	0.29	0.29	0.30	0.30

Source: Company financial statements from annual and quarterly filings. Data as of Jul 5, 2026. Data sources and methodology

Frequently Asked Questions About General Dynamics Financial Statements

What was General Dynamics's revenue in fiscal 2025?

General Dynamics reported revenue of $52.55B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 10.1% from $47.72B a year earlier.

Is General Dynamics profitable?

Yes. General Dynamics earned net income of $4.21B in fiscal 2025, a net margin of 8.0%. In fiscal 2024 it earned $3.78B.

What is General Dynamics's operating margin?

General Dynamics's operating income was $5.36B on revenue of $52.55B in fiscal 2025, an operating margin of 10.2%, compared with 10.1% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition