General Dynamics (GD) Balance Sheet: Assets & Liabilities

General Dynamics (GD) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), General Dynamics reported total assets of $57.25B and total liabilities of $31.63B. Shareholders' equity was $25.62B, up 16.1% from $22.06B a year earlier. Total debt stood at $9.79B against $2.33B in cash and short-term investments, a net debt position of $7.46B. That puts debt-to-equity at 0.38, compared with 0.40 a year earlier.

General Dynamics Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for General Dynamics Corporation (GD) - 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
Current Assets
Cash and Cash Equivalents	2.33	1.70	1.91	1.24	1.60	2.82	0.90	0.96	2.98
Cash & Short-Term Investments	2.33	1.70	1.91	1.24	1.60	2.82	0.90	0.96	2.98
Accounts Receivable	10.79	2.98	3.00	3.01	3.04	11.19	11.40	10.34	8.86
Inventory	9.23	9.72	8.58	6.32	5.34	5.75	6.31	5.98	5.30
Other Current Assets	1.90	1.74	2.12	1.70	1.51	1.79	1.68	0.91	1.19
Total Current Assets	24.25	24.39	23.62	21.06	19.99	21.54	20.29	18.19	18.28
Non-Current Assets
Property, Plant & Equipment (Net)	7.53	6.47	6.20	5.90	5.42	5.10	4.48	4.35	3.52
Long-Term Investments	0.00	0.00	-0.03	-0.04	-0.04	0.00	-0.03	0.00	0.00
Goodwill	21.01	20.56	20.59	20.33	20.10	20.05	19.68	19.59	11.91
Intangible Assets	1.38	1.52	1.66	1.82	1.98	2.12	2.32	2.59	0.70
Other Non-Current Assets	3.09	2.95	2.76	2.46	2.59	2.50	2.59	0.69	0.59
Total Non-Current Assets	33.00	31.49	31.20	30.52	30.09	29.77	29.06	27.22	16.72
Total Assets	57.25	55.88	54.81	51.59	50.07	51.31	48.84	45.41	34.99
Current Liabilities
Accounts Payable	2.68	3.34	3.10	3.40	3.17	2.95	3.16	3.18	3.21
Short-Term Debt	1.31	1.50	0.51	1.25	1.01	3.33	3.17	0.97	0.00
Current Portion of Long-Term Debt	1.01	1.50	0.51	1.25	1.01	-	-	-	-
Accrued Liabilities	1.36	1.33	1.43	1.33	1.58	-	-	-	-
Deferred Revenue	9.82	9.49	9.56	7.44	6.27	6.28	7.15	7.27	6.99
Other Current Liabilities	2.99	1.21	3.27	3.25	3.54	3.40	3.32	3.32	2.90
Total Current Liabilities	16.80	17.82	16.43	15.34	13.98	15.96	16.80	14.74	13.05
Non-Current Liabilities
Long-Term Debt	8.48	7.26	8.75	9.24	10.49	11.40	10.26	11.44	3.98
Deferred Tax Liabilities	0.00	0.00	0.00	0.00	-1.25	0.46	0.59	0.58	0.24
Other Non-Current Liabilities	3.70	2.12	8.33	8.43	7.96	6.95	7.01	6.92	6.29
Total Non-Current Liabilities	14.83	15.99	17.08	17.68	18.45	19.68	18.57	18.94	10.51
Total Liabilities	31.63	33.82	33.51	33.02	32.43	35.65	35.26	33.68	23.56
Stockholders' Equity
Common Stock	0.48	0.48	0.48	0.48	0.48	0.48	0.48	0.48	0.48
Retained Earnings	44.08	41.49	39.27	37.40	35.42	33.50	31.63	29.33	26.44
Accumulated Other Comprehensive Income	-0.48	-1.52	-1.16	-2.15	-1.92	-3.55	-4.22	-3.78	-2.82
Treasury Stock	22.86	22.45	21.05	20.72	-	-	-	-	-
Additional Paid-in Capital	-18.46	4.06	-17.29	3.56	-16.34	-14.77	-14.32	-14.30	-12.67
Shares Outstanding	0.27	0.27	0.27	0.27	-	-	-	-	-
Total Stockholders' Equity	25.62	22.06	21.30	18.57	17.64	15.66	13.58	11.73	11.44
Total Liabilities & Equity	57.25	55.88	54.81	51.59	50.07	51.31	48.84	45.41	34.99

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 Balance Sheet

How much debt does General Dynamics have?

General Dynamics had total debt of $9.79B as of Dec 31, 2025, against $2.33B in cash and short-term investments. Its debt-to-equity ratio was 0.38. Total debt was $8.76B a year earlier.

What are General Dynamics's total assets?

General Dynamics reported total assets of $57.25B as of Dec 31, 2025, up 2.4% from $55.88B a year earlier. Total liabilities were $31.63B.

What is General Dynamics's shareholders' equity?

General Dynamics's shareholders' equity was $25.62B as of Dec 31, 2025, or about $94.76 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition