General Dynamics Corp (GD)

Industrials · Aerospace & Defense · US stock · S&P 500 component

$350.79 ▲ +6.08 (1.76%)

At close 22 Oct 2026 · USD · Volume 1,340,072

Compare with LMT

Interactive chart Research report Forecast ranges Pro workspace SEC filings Historical data

Fair valueFair

$373 +6.2% to fair value

$186fair band $317–$452$559

Day's range

$345.17 – $351.15

52-week range

$306.77 – $400.00

About General Dynamics Corp

General Dynamics is a defense and aerospace company with four main businesses: Gulfstream business jets, Marine Systems for submarines and surface ships, Combat Systems for land vehicles and munitions, and Technologies for information technology and mission systems. Revenue comes mainly from long-term contracts with the United States government and allied governments, plus sales of business jets to private and corporate customers.

Revenue at General Dynamics Corp was $53.8 billion across the last twelve months. Across three years, sales expanded by 10.1% a year. Operating profit was 10.2% of revenue. It earned a return on invested capital of 15%. Debt after cash comes to 0.7 times EBITDA. Shareholders receive a dividend yielding 1.8%. On the site's X-Ray Score, it rates 70 out of 100.

Price chart

Interactive chart Historical data & CSV

52-wk range $306.77 – $400.00Volume 1,340,072Daily, split-adjusted

Vitals

Market cap$96.2B

52-week range$306.77 – $400.00

Volume (last day)1,340,072

P/E (TTM)22.0

EBIT / EV yield5.5%

Free-cash-flow yield6.4%

Dividend yield1.8%

Revenue (TTM)$53.8B

Net income (TTM)$4.3B

Operating margin10.2%

Return on capital14.9%

Debt incl. leases$8.0B

Cash & securities$3.7B

Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.

Fair value estimate

$373middle half of models $340 – $400

Fair +6.2% to fair value

Average of the 15 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.

Price $351

Undervalued < $317Fair $317 – $452Overvalued > $452

P/E multiple

$343

P/B multiple

$392

P/S multiple

$337

EV/EBITDA multiple

$370

EV/EBIT multiple

$347

EV/revenue multiple

$356

10-year DCF, EBITDA exit

$406

5-year DCF, EBITDA exit

$405

10-year DCF, revenue exit

$401

5-year DCF, revenue exit

$399

10-year DCF, growth exit

$313

5-year DCF, growth exit

$296

Dividend discount, stable

$319

Dividend discount, multi-stage

$556

Earnings power value

$347

Growth the price implies

11.5%/yr

A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.

What this means

Strong business at a fair price

The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.

Before you invest · decision checklist

I understand how this company makes money Business quality is average or better ✓ 71 The price is not above fair value $373 fair value Debt looks manageable 0.7× EBITDA Revenue has been growing 10.1% a year Profits are backed by cash There are no red flags none raised I know what share of my savings this would be

Ticked boxes are filled in from our data; the rest are yours to answer.

The five-lens scan

Every score explained in one sentence, ranked against Industrials peers. Open a lens to see the numbers behind it.

Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data

Valuation Strong

79/100

Cheap against its sector on earnings and cash flow.

See the numbers →

EBIT / EV yield5.5%

Free-cash-flow yield6.4%

Fair value vs price1.1×

Growth Fair

64/100

Growing at a typical pace for its sector.

See the numbers →

Revenue growth (3y)10.1%

EPS growth (3y)8.2%

Growth consistency100%

Profitability Fair

60/100

Returns on capital are typical for its sector.

See the numbers →

Return on invested capital14.9%

Operating margin10.2%

Financial health Strong

82/100

Balance sheet looks strong: debt is well covered.

See the numbers →

Piotroski F-Score9 / 9

Net debt / EBITDA0.7×

Interest coverNo interest cost

Dividends Fair

61/100

Dividend is typical for its sector.

See the numbers →

Dividend yield1.8%

Dividends vs free cash flow28%

Dividend growth5.2%

Quarterly results: last 6 quarters

+14.3%

Dec '24

+13.9%

Mar '25

+8.9%

Jun '25

+10.6%

Sep '25

+7.8%

Dec '25

+10.3%

Apr '26

Revenue against the same quarter a year earlier. Latest quarter revenue $13.5B.

Compare with peers

TXT Textron Inc65 LHX L3harris Technologies,...60 TDG TransDigm Group INC57 LMT Lockheed Martin Corp55

Other Aerospace & Defense companies by X-Ray Score.

SWOT analysis: General Dynamics Corp

Strengthsinside the company

Revenue has grown 10.1% a year over three years (median 10.0% for industry peers).
Free cash flow equals 6.4% of the market value, which funds dividends, buybacks or debt paydown.
Operating profit covers interest 50x, so debt costs are a small drag.
Passes 9 of the 9 Piotroski tests, which points to improving profitability, funding and efficiency.

Weaknessesinside the company

No clear weakness in the figures we track.

Opportunitiesvaluation and setting

Dividends use only 28% of free cash flow, which leaves room to raise them.
Trades at 22.2x earnings, 28% below the 30.8x median of industry peers.

Threatsvaluation and setting

No specific threat is flagged by our checks; general market and interest-rate risk still applies.

Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.

Compare GD with peers and sector

Medians of 11 Aerospace & Defense peers and of 80 Industrials stocks in our universe. Largest peers (X-Ray Score): GE 49, RTX 51, BA 35, LMT 55, NOC 49, HWM 55.

Metric	GD	Peers	Sector
X-Ray Score (out of 100)	70	51	50
Valuation	78	52	44
Growth	64	58	50
Profitability	60	40	50
Financial health	82	55	49
Dividends	61	53	53

Sector leaders: highest X-Ray Score in Industrials

GD ranks #1 of 81 in Industrials and #1 of 12 in Aerospace & Defense by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.

Company	X-Ray Score
#1 GD General Dynamics Corp (this stock)	70
#2 EME EMCOR Group, Inc.	69
#3 PAYX Paychex Inc	69
#4 LDOS Leidos Holdings, Inc.	67
#5 SNA Snap-on Inc	66

Metric	GD	Peers	Sector
P/E ratio	22.2x	30.8x	29.3x
PEG ratio	2.69	1.61	2.33
Price / book	3.7x	6.9x	6.3x
Price / sales	1.8x	1.8x	3.6x
EV / EBITDA	15.6x	19.0x	18.6x
Price / free cash flow	15.5x	23.3x	25.7x
Dividend yield	1.8%	1.6%	1.3%
Gap to our fair value	+6.2%	+3.7%	−8.9%

Metric	GD	Peers	Sector
Price change, 1 month	+2.6%	+1.9%	+2.4%
Price change, 3 months	−5.5%	−10.1%	−2.3%
Price change, 6 months	+10.4%	−5.5%	−1.4%
Price change, 1 year	+5.6%	−5.4%	+11.9%

Metric	GD	Peers	Sector
Market value	$96.2B	$77.7B	$47.5B
Revenue (last 12 months)	$53.8B	$39.1B	$14.7B
EBITDA (last 12 months)	$6.4B	$5.2B	$2.5B
Net income (last 12 months)	$4.3B	$2.1B	$1.5B
Free cash flow (last 12 months)	$6.2B	$1.9B	$1.7B

Metric	GD	Peers	Sector
Revenue growth, last year	+10.1%	+10.4%	+4.5%
Revenue growth, 3 years a year	+10.1%	+10.0%	+5.6%
EPS growth, 3 years a year	+8.2%	+10.4%	+5.6%
Free cash flow growth, 3 years a year	+4.5%	+16.0%	+14.5%
Dividend growth	+5.2%	+4.5%	+7.0%

Metric	GD	Peers	Sector
Gross margin	–	25.6%	38.0%
EBITDA margin	12.0%	13.4%	20.4%
Operating margin	10.2%	10.7%	17.5%
Net margin	8.1%	8.2%	12.8%
Return on invested capital	14.9%	12.8%	15.0%
Return on equity	16.6%	18.8%	23.8%

Metric	GD	Peers	Sector
Net debt / EBITDA	0.7x	2.0x	1.8x
Interest cover	50.0x	50.0x	21.1x
Current ratio	1.4x	1.2x	1.2x
Piotroski F-score (0 to 9)	9	7	6

Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.

Factor ratings for GD

Each factor is rated by where GD stands among the 81 Industrials stocks in our universe.

Rating against the sector

Goodthe top third of these stocks

Averagethe middle third of these stocks

Badthe bottom third of these stocks

"Beats" is the share of those stocks it is ahead of.

Against its own history

The last columns set today's figure against the company's own median of its last five financial years:

▲ Betterbetter than its usual level

▼ Worseworse than its usual level

≈ In linewithin its usual range

For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.

In total: 13 Good · 5 Average · 3 Bad of 21 Growth: 2 · 1 · 0 Profitability: 0 · 2 · 2 Financial strength: 3 · 1 · 0 Valuation: 5 · 0 · 0 Cash flow: 2 · 1 · 1 Efficiency: 1 · 0 · 0

Factor	GD	Rating	Sector median	Own 5-year median	Against own history
Growth
Revenue growth, 3 years a year	+10.1%	Good beats 81%	+5.6%	–	–
Revenue growth, last year	+10.1%	Good beats 82%	+4.5%	+7.3%	▲ Better
EPS growth, 3 years a year	+8.2%	Average beats 56%	+5.7%	–	–
Profitability
Operating margin	10.2%	Bad beats 27%	17.5%	10.2%	≈ In line
Net margin	8.1%	Bad beats 29%	12.8%	8.0%	≈ In line
Return on invested capital	14.9%	Average beats 49%	14.9%	–	–
Return on equity	16.6%	Average beats 36%	23.7%	17.1%	≈ In line
Financial strength
Net debt / EBITDA	0.7x	Good beats 86%	1.8x	1.4x	▲ Better
Interest cover	50.0x	Good beats 76%	21.4x	10.6x	▲ Better
Current ratio	1.38	Average beats 60%	1.25	1.43	≈ In line
Piotroski F-score	9 / 9	Good beats 96%	6 / 9	–	–
Valuation
P/E ratio	22.2x	Good beats 75%	28.9x	20.4x	≈ In line
Price / book	3.7x	Good beats 75%	6.2x	3.4x	≈ In line
Price / sales	1.8x	Good beats 78%	3.5x	1.7x	≈ In line
EV / EBITDA	15.6x	Good beats 67%	18.5x	15.4x	≈ In line
Free cash flow yield	6.4%	Good beats 90%	3.8%	5.0%	▲ Better
Cash flow
Free cash flow margin	11.5%	Average beats 37%	13.8%	8.8%	▲ Better
Cash from operations / net income	1.71	Good beats 72%	1.39	1.31	▲ Better
Free cash flow growth, 3 years a year	+4.5%	Bad beats 21%	+14.5%	–	–
Accruals (lower is better)	−5.2%	Good beats 72%	−3.2%	–	–
Efficiency
Days sales outstanding	15 days	Good beats 94%	57 days	26 days	▲ Better

These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.

Fundamentals checklist

● 10 Good · ● 3 Average · ● 2 Bad

Cash quality

Earnings backed by cashGood

Free-cash-flow yieldGood

Risk models

Altman Z''Good

Piotroski F-ScoreGood

Growth

EPS growth (3y)Average

Free-cash-flow growth (3y)Bad

Revenue growth (3y)Good

Growth consistencyGood

Balance sheet

Current ratioAverage

Net debt / EBITDAGood

Interest coverGood

Valuation

Fair value vs priceGood

EBIT / EV yieldGood

Profitability

Return on invested capitalAverage

Operating marginBad

Each check is graded against the company's sector, not a fixed number. Checklist score 65/100.

Financials

	FY21	FY22	FY23	FY24	FY25
Revenue	$38.5B	$39.4B	$42.3B	$47.7B	$52.6B
Operating income	$4.2B	$4.2B	$4.2B	$4.8B	$5.4B
Net income	$3.3B	$3.4B	$3.3B	$3.8B	$4.2B
Operating cash flow	$4.3B	$4.6B	$4.7B	$4.1B	$5.1B
Operating margin	10.8%	10.7%	10.0%	10.1%	10.2%
Free cash flow	$3.4B	$3.5B	$3.8B	$3.2B	$4.0B
Diluted EPS	$11.55	$12.19	$12.02	$13.63	$15.45

Fiscal years, from SEC filings.

Technical summary

Daily

Neutral

7 bullish · 1 neutral · 8 bearish

Weekly

Neutral

6 bullish · 1 neutral · 5 bearish

Monthly

Strongly bullish

7 bullish · 1 neutral · 0 bearish

Moving averages (daily)

SMA 10	339.6	Bullish
EMA 10	341.3	Bullish
SMA 20	334.9	Bullish
EMA 20	340.5	Bullish
SMA 50	353.9	Bearish
EMA 50	348.4	Bullish
SMA 100	359.3	Bearish
EMA 100	352.4	Bearish
SMA 200	351.7	Bearish
EMA 200	347.4	Bullish

Oscillators (daily)

RSI (14)	60.59	Neutral
MACD (12, 26)	-1.40	Bearish
Momentum (12)	6.39	Bullish
Stochastic %K (14)	98.83	Bearish
Williams %R (14)	-1.17	Bearish
CCI (20)	178.2	Bearish

Pivot points (classic, last session)

340.9

343.1

346.9

Pivot

349.0

352.9

355.0

358.9

Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.

Dividends

Paid, last 12 months

6.27 USD

Yield on today's price

1.79%

Frequency

Quarterly

Next ex-dividend date

Not announced

Ex-dividend date	Amount per share
9 Oct 2026	1.5900
2 Jul 2026	1.5900
10 Apr 2026	1.5900
16 Jan 2026	1.5000
10 Oct 2025	1.5000
3 Jul 2025	1.5000
11 Apr 2025	1.5000
17 Jan 2025	1.4200
11 Oct 2024	1.4200
5 Jul 2024	1.4200
11 Apr 2024	1.4200
18 Jan 2024	1.3200

Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.

ETFs that hold GD

ETF	Share of the fund
SHLD Global X Defense Tech	7.67%
PPA Invesco Aerospace & Defense	4.96%
ITA iShares U.S. Aerospace & Defense	4.33%
DFEN Daily Aerospace & Defense Bull 3X	3.11%
XAR SPDR S&P Aerospace & Defense	2.67%
FTCS First Trust Capital Strength	2.12%
COWZ Pacer US Cash Cows 100	2.05%
MFSV MFS Active Value	1.75%

The eight funds with the largest weight in GD among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.