General Dynamics Corporation (GD) Financial Ratios
30 years of historical data (1996–2025) · Industrials · Aerospace & Defense
EV/EBITDA
↑
16.62
+9% vs avg
5yr avg: 15.28
30Y Low5.8·High18.1
P/FCF
↑
23.45
+15% vs avg
5yr avg: 20.45
30Y Low4.6·High29.7
P/B Ratio
↑
3.67
+6% vs avg
5yr avg: 3.46
30Y Low1.8·High5.4
ROE
↓
17.7%
-2% vs avg
5yr avg: 18.0%
30Y Low-3%·High33%
Debt/EBITDA
↓
1.62
↓-24% vs avg
5yr avg: 2.13
30Y Low0.3·High2.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
GD Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
General Dynamics Corporation trades at 22.2x earnings, 10% above its 5-year average of 20.2x, sitting at the 100th percentile of its historical range. Compared to the Industrials sector median P/E of 25.5x, the stock trades at a discount of 13%. On a free-cash-flow basis, the stock trades at 23.5x P/FCF, 15% above the 5-year average of 20.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $92.9B | $92.2B | $73.1B | $71.6B | $69.0B | $58.8B | $42.8B | $51.3B | $47.0B | $62.0B | $53.6B |
| Enterprise Value | $100.3B | $99.7B | $82.1B | $80.8B | $79.9B | $70.4B | $54.8B | $63.8B | $58.5B | $63.0B | $55.1B |
| P/E Ratio → | 22.21 | 21.78 | 19.33 | 21.60 | 20.35 | 18.05 | 13.53 | 14.72 | 14.06 | 21.28 | 20.83 |
| P/S Ratio | 1.77 | 1.75 | 1.53 | 1.69 | 1.75 | 1.53 | 1.13 | 1.30 | 1.30 | 2.00 | 1.75 |
| P/B Ratio | 3.67 | 3.60 | 3.31 | 3.36 | 3.72 | 3.33 | 2.74 | 3.78 | 4.01 | 5.42 | 4.88 |
| P/FCF | 23.45 | 23.29 | 22.88 | 18.81 | 19.92 | 17.37 | 14.82 | 25.72 | 19.14 | 17.96 | 29.68 |
| P/OCF | 18.14 | 18.01 | 17.78 | 15.20 | 15.07 | 13.77 | 11.11 | 17.21 | 14.94 | 15.98 | 24.38 |
P/E links to full P/E history page with 30-year chart
GD EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
General Dynamics Corporation's enterprise value stands at 16.6x EBITDA, 9% above its 5-year average of 15.3x. The Industrials sector median is 13.8x, placing the stock at a 20% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.90 | 1.72 | 1.91 | 2.03 | 1.83 | 1.44 | 1.62 | 1.62 | 2.03 | 1.80 |
| EV / EBITDA | 16.62 | 16.51 | 14.45 | 15.81 | 15.68 | 13.93 | 10.93 | 11.82 | 11.34 | 13.46 | 13.14 |
| EV / EBIT | 18.73 | 18.40 | 16.64 | 18.43 | 18.05 | 16.35 | 12.95 | 13.65 | 13.12 | 15.01 | 14.69 |
| EV / FCF | — | 25.17 | 25.69 | 21.22 | 23.06 | 20.79 | 18.94 | 32.01 | 23.80 | 18.25 | 30.54 |
GD Profitability
Margins and return-on-capital ratios measuring operating efficiency
General Dynamics Corporation earns an operating margin of 10.2%, above the Industrials sector average of 4.3%. ROE of 17.7% indicates solid capital efficiency, compared to the sector median of 8.2%. ROIC of 12.5% represents solid returns on invested capital versus a sector median of 6.1%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 15.1% | 15.1% | 15.4% | 15.8% | 16.8% | 16.7% | 16.7% | 17.8% | 18.4% | 20.2% | 18.5% |
| Operating Margin | 10.2% | 10.2% | 10.1% | 10.0% | 10.7% | 10.8% | 10.9% | 11.6% | 12.1% | 13.7% | 12.3% |
| Net Profit Margin | 8.0% | 8.0% | 7.9% | 7.8% | 8.6% | 8.5% | 8.4% | 8.9% | 9.2% | 9.4% | 8.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.7% | 17.7% | 17.4% | 16.6% | 18.7% | 19.6% | 21.7% | 27.5% | 28.9% | 26.0% | 23.7% |
| ROA | 7.4% | 7.4% | 6.8% | 6.2% | 6.7% | 6.4% | 6.3% | 7.4% | 8.3% | 8.6% | 7.9% |
| ROIC | 12.5% | 12.5% | 11.7% | 10.6% | 10.8% | 11.0% | 11.5% | 13.9% | 18.5% | 25.5% | 23.5% |
| ROCE | 13.6% | 13.6% | 12.5% | 11.4% | 11.6% | 11.7% | 12.3% | 14.6% | 16.7% | 20.2% | 18.9% |
GD Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
General Dynamics Corporation carries a Debt/EBITDA ratio of 1.6x, which is manageable (49% below the sector average of 3.2x). Net debt stands at $7.5B ($9.8B total debt minus $2.3B cash). Interest coverage of 17.3x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.38 | 0.38 | 0.48 | 0.52 | 0.65 | 0.75 | 0.94 | 0.99 | 1.06 | 0.35 | 0.35 |
| Debt / EBITDA | 1.62 | 1.62 | 1.88 | 2.17 | 2.38 | 2.61 | 2.94 | 2.49 | 2.41 | 0.85 | 0.93 |
| Net Debt / Equity | — | 0.29 | 0.41 | 0.43 | 0.59 | 0.66 | 0.76 | 0.92 | 0.98 | 0.09 | 0.14 |
| Net Debt / EBITDA | 1.24 | 1.24 | 1.58 | 1.80 | 2.13 | 2.29 | 2.38 | 2.32 | 2.22 | 0.21 | 0.37 |
| Debt / FCF | — | 1.88 | 2.81 | 2.41 | 3.14 | 3.42 | 4.12 | 6.28 | 4.66 | 0.29 | 0.86 |
| Interest Coverage | 17.25 | 17.25 | 12.55 | 10.98 | 11.32 | 9.99 | 8.64 | 9.90 | 11.92 | 35.85 | 37.93 |
GD Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.44x means General Dynamics Corporation can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 0.89x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.44 | 1.44 | 1.37 | 1.44 | 1.37 | 1.43 | 1.35 | 1.21 | 1.23 | 1.40 | 1.20 |
| Quick Ratio | 0.89 | 0.89 | 0.82 | 0.92 | 0.96 | 1.05 | 0.99 | 0.83 | 0.83 | 0.99 | 0.52 |
| Cash Ratio | 0.14 | 0.14 | 0.10 | 0.12 | 0.08 | 0.11 | 0.18 | 0.05 | 0.07 | 0.23 | 0.18 |
| Asset Turnover | — | 0.92 | 0.85 | 0.77 | 0.76 | 0.77 | 0.74 | 0.81 | 0.80 | 0.89 | 0.93 |
| Inventory Turnover | 4.83 | 4.83 | 4.15 | 4.15 | 5.19 | 6.00 | 5.50 | 5.13 | 4.94 | 4.66 | 2.83 |
| Days Sales Outstanding | — | 74.92 | 85.86 | 94.99 | 109.32 | 109.48 | 107.65 | 105.75 | 104.23 | 104.37 | 90.90 |
GD Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
General Dynamics Corporation returns 2.4% to shareholders annually — split between a 1.7% dividend yield and 0.7% buyback yield. The payout ratio of 37.8% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 4.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.7% | 1.7% | 2.1% | 2.0% | 2.0% | 2.2% | 2.9% | 2.2% | 2.3% | 1.6% | 1.7% |
| Payout Ratio | 37.8% | 37.8% | 40.4% | 43.1% | 40.4% | 40.4% | 39.2% | 33.1% | 32.1% | 33.9% | 35.4% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.5% | 4.6% | 5.2% | 4.6% | 4.9% | 5.5% | 7.4% | 6.8% | 7.1% | 4.7% | 4.8% |
| FCF Yield | 4.3% | 4.3% | 4.4% | 5.3% | 5.0% | 5.8% | 6.7% | 3.9% | 5.2% | 5.6% | 3.4% |
| Buyback Yield | 0.7% | 0.7% | 2.1% | 0.6% | 1.8% | 3.1% | 1.4% | 0.5% | 3.8% | 2.5% | 3.7% |
| Total Shareholder Yield | 2.4% | 2.4% | 4.1% | 2.6% | 3.8% | 5.3% | 4.3% | 2.7% | 6.0% | 4.1% | 5.4% |
| Shares Outstanding | — | $274M | $277M | $276M | $278M | $282M | $288M | $291M | $299M | $305M | $310M |
Peer Comparison
Compare GD with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 GDYou | $93B | 22.2 | 16.6 | 23.5 | 15.1% | 10.2% | 17.7% | 12.5% | 1.6 |
 LMT | $114B | 23.0 | 15.6 | 16.5 | 10.2% | 10.3% | 76.9% | 23.9% | 2.6 |
 RTX | $245B | 36.7 | 21.5 | 30.8 | 20.1% | 10.0% | 10.4% | 6.7% | 3.1 |
 NOC | $72B | 17.4 | 15.2 | 21.8 | 19.8% | 10.2% | 26.2% | 10.2% | 3.4 |
 BA | $174B | 89.0 | — | — | 4.8% | -6.1% | 289.7% | -9.5% | — |
 LHX | $53B | 33.5 | 18.4 | 19.9 | 25.7% | 10.0% | 8.2% | 5.4% | 3.1 |
 HII | $11B | 18.1 | 14.2 | 13.8 | 12.7% | 4.9% | 12.4% | 6.2% | 3.4 |
 TXT | $15B | 17.0 | 10.5 | 17.1 | 16.9% | 8.4% | 12.2% | 9.4% | 2.6 |
 LDOS | $13B | 9.4 | 7.4 | 8.1 | 17.7% | 12.3% | 30.9% | 17.1% | 2.5 |
 BAH | $8B | 9.2 | 8.7 | 8.0 | 20.9% | 9.8% | 80.7% | 18.6% | 3.3 |
 SAIC | $4B | 13.1 | 10.1 | 7.4 | 12.1% | 7.2% | 23.3% | 9.9% | 4.0 |
| Industrials Median | — | 25.5 | 13.8 | 20.0 | 32.0% | 4.3% | 8.2% | 6.1% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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GD — Frequently Asked Questions
Quick answers to the most common questions about buying GD stock.
What is General Dynamics Corporation's P/E ratio?
General Dynamics Corporation's current P/E ratio is 22.2x. The historical average is 16.4x. This places it at the 100th percentile of its historical range.
What is General Dynamics Corporation's EV/EBITDA?
General Dynamics Corporation's current EV/EBITDA is 16.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.9x.
What is General Dynamics Corporation's ROE?
General Dynamics Corporation's return on equity (ROE) is 17.7%. The historical average is 21.1%.
Is GD stock overvalued?
Based on historical data, General Dynamics Corporation is trading at a P/E of 22.2x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is General Dynamics Corporation's dividend yield?
General Dynamics Corporation's current dividend yield is 1.69% with a payout ratio of 37.8%.
What are General Dynamics Corporation's profit margins?
General Dynamics Corporation has 15.1% gross margin and 10.2% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does General Dynamics Corporation have?
General Dynamics Corporation's Debt/EBITDA ratio is 1.6x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.