General Dynamics Corporation (GD) quarterly cash flow statement — complete operating, investing & financing history
General Dynamics Corporation (GD) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 1.88B | 2.15B | 1.56B | 2.11B | 1.6B | -148M | 2.16B | 1.42B | 814M | -278M | 1.2B | 1.32B | 731M | 1.46B | 669M | 1.28B | 659M | 1.97B | 1.68B | 1.47B |
| Operating CF Margin % | 13.34% | 15.99% | 10.86% | 16.34% | 12.25% | -1.21% | 16.19% | 12.13% | 6.8% | -2.59% | 10.25% | 12.5% | 7.2% | 14.8% | 6.17% | 12.86% | 7.17% | 20.95% | 16.34% | 15.37% |
| Operating CF Growth % | 17.65% | 1556.08% | -27.73% | 48.94% | 96.31% | 46.76% | 80.6% | 7.19% | 11.35% | -119.02% | 78.77% | 2.96% | 10.93% | -25.71% | -60.23% | -12.78% | -40.9% | 65500% | -34.35% | 31.46% |
| Net Income | 1.16B | 1.13B | 1.14B | 1.06B | 1.01B | 994M | 1.15B | 930M | 905M | 799M | 1B | 836M | 744M | 730M | 992M | 902M | 766M | 730M | 952M | 860M |
| Depreciation & Amortization | 231M | 232M | 252M | 226M | 223M | 223M | 240M | 218M | 217M | 211M | -222M | 208M | 207M | 226M | 240M | 219M | 212M | 213M | 240M | 211M |
| Stock-Based Compensation | 67M | 40M | 50M | 57M | 55M | 34M | 46M | 50M | 53M | 34M | 45M | 49M | 49M | 38M | 25M | 20M | 24M | 96M | 30M | 24M |
| Deferred Taxes | 79M | 286M | 105M | 249M | -39M | -59M | 21M | -17M | -51M | -39M | -19M | -4M | -63M | -91M | -46M | 86M | -112M | -106M | -28M | -1M |
| Other Non-Cash Items | -60M | 0 | -877M | 40M | 257M | -78M | -548M | 205M | 0 | 0 | 444M | 32M | -49M | 59M | -235M | 149M | -204M | -72M | -938M | 514M |
| Working Capital Changes | 403M | 472M | 888M | 478M | 88M | -1.26B | 1.25B | 30M | -310M | -1.28B | -57M | 200M | -157M | 500M | -307M | -93M | -27M | 1.11B | 1.43B | -137M |
| Change in Receivables | -144M | 152M | 1.28B | 83M | 384M | -1.2B | 801M | -287M | -125M | -634M | 592M | 70M | -231M | 72M | -213M | 431M | -198M | 26M | 5M | 227M |
| Change in Inventory | 80M | 55M | 581M | 76M | -115M | -92M | 417M | -460M | -141M | -1.01B | -315M | -640M | -636M | -628M | -65M | -99M | -582M | -234M | 311M | 152M |
| Change in Payables | 31M | 165M | -783M | 380M | -274M | 13M | 54M | 318M | -225M | 100M | -220M | -50M | 117M | -150M | 292M | -39M | -52M | 23M | 485M | 73M |
| Cash from Investing | -222M | -202M | -860M | -206M | -86M | -130M | -368M | -282M | -126M | -183M | -333M | -204M | -214M | -190M | -491M | -633M | -218M | -147M | -381M | -193M |
| Capital Expenditures | -234M | -203M | -609M | -212M | -198M | -142M | -355M | -201M | -201M | -159M | -304M | -227M | -212M | -161M | -494M | -255M | -224M | -141M | -385M | -196M |
| CapEx % of Revenue | 1.66% | 1.51% | 4.24% | 1.64% | 1.52% | 1.16% | 2.66% | 1.72% | 1.68% | 1.48% | 2.61% | 2.15% | 2.09% | 1.63% | 4.55% | 2.56% | 2.44% | 1.5% | 3.74% | 2.05% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 12M | 1M | -251M | 6M | 112M | 12M | -13M | -81M | 75M | -24M | -29M | 23M | -2M | -29M | 3M | -378M | 6M | -6M | 4M | 3M |
| Cash from Financing | -976M | -629M | -884M | -903M | -1.23B | -175M | -2.2B | -395M | -362M | -416M | -302M | -917M | -1.4B | -475M | -1.43B | -377M | -1.15B | -517M | -2.83B | -1.09B |
| Debt Issued (Net) | -500M | 0 | 0 | -696M | -897M | 840M | -500M | 0 | 0 | 0 | 0 | -500M | -750M | 0 | -1B | 0 | 0 | 0 | -1.99B | -500M |
| Equity Issued (Net) | -102M | -217M | -637M | 0 | 0 | -600M | -1.32B | -44M | -34M | -105M | 0 | -56M | -288M | -90M | -110M | -25M | -800M | -294M | -337M | -139M |
| Dividends Paid | -429M | -405M | -405M | -403M | -402M | -383M | -389M | -390M | -389M | -361M | -360M | -363M | -360M | -345M | -345M | -345M | -349M | -330M | -332M | -332M |
| Share Repurchases | -102M | -217M | -637M | 0 | 0 | -600M | -1.32B | -44M | -34M | -105M | 0 | -56M | -288M | -90M | -110M | -25M | -800M | -294M | -337M | -139M |
| Other Financing | 55M | -7M | 158M | 196M | 71M | -32M | 11M | 39M | 61M | 50M | 58M | 2M | -2M | -40M | 24M | -7M | 3M | 107M | -173M | -115M |
| Net Change in Cash | 679M | 1.32B | -187M | 997M | 281M | -455M | -404M | 739M | 326M | -877M | 561M | 198M | -884M | 796M | -1.25B | 273M | -684M | 1.3B | -1.54B | 189M |
| Free Cash Flow | 1.65B | 1.95B | 952M | 1.9B | 1.4B | -290M | 1.8B | 1.22B | 613M | -437M | 892M | 1.09B | 519M | 1.3B | 175M | 1.03B | 435M | 1.83B | 1.3B | 1.27B |
| FCF Margin % | 11.68% | 14.48% | 6.62% | 14.7% | 10.74% | -2.37% | 13.53% | 10.41% | 5.12% | -4.07% | 7.64% | 10.35% | 5.11% | 13.17% | 1.61% | 10.31% | 4.73% | 19.45% | 12.6% | 13.33% |
| FCF Growth % | 17.57% | 773.1% | -47.26% | 56.13% | 128.38% | 33.64% | 102.35% | 11.06% | 18.11% | -133.59% | 409.71% | 6.42% | 19.31% | -28.79% | -86.51% | -19.37% | -53.87% | 1494.66% | -41.5% | 41.2% |
| FCF per Share | 6.01 | 7.12 | 3.48 | 6.98 | 5.17 | -1.07 | 6.52 | 4.37 | 2.21 | -1.58 | 3.23 | 3.98 | 1.89 | 4.70 | 0.63 | 3.72 | 1.56 | 6.53 | 4.62 | 4.55 |
| FCF Conversion (FCF/Net Income) | 1.62x | 1.92x | 1.37x | 1.99x | 1.58x | -0.15x | 1.88x | 1.52x | 0.90x | -0.35x | 1.19x | 1.58x | 0.98x | 2.00x | 0.67x | 1.42x | 0.86x | 2.70x | 1.77x | 1.71x |
| Interest Paid | 0 | 0 | -196M | 35M | 161M | 42M | 0 | 0 | 0 | 26M | 0 | 29M | 177M | 18M | 0 | 15M | 98M | 93M | 0 | 101M |
| Taxes Paid | 0 | 0 | -263M | 27M | 202M | 34M | 0 | 0 | 0 | 33M | 0 | 166M | 269M | 58M | 0 | 202M | 550M | 15M | 0 | 257M |