General Dynamics (GD) stock
Industrials · Aerospace & Defense
General Dynamics (GD) is an Aerospace & Defense company in the Industrials sector, headquartered in Reston, Virginia. As of October 23, 2026, GD closed at $349.36, a market capitalization of $94.52 billion, the 126th largest company in the S&P 500. Over the last twelve months it generated $54.86 billion in revenue (+8% year over year) and $6.45 billion in free cash flow. The stock trades at 21.3x trailing earnings and 18.8x forward earnings.
- 1-year total return: +4.2% (dividends reinvested)
- 5-year return: +13.1% a year
- 52-week range: $306.77 – $400.00
- Gross margin 15.4%, operating margin 10.4%
- Dividend yield: 1.82%, 34 straight years of increases
- FI Handbook report card: C+ across 10 metrics
- 15th largest of 83 Industrials stocks in the S&P 500
GD price chart
1Y price change: +2.3% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| GD | +2.2% | +5.7% | +4.2% | +16.7% | +13.1% | +11.2% | +12.5% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1962.
GD key statistics
- Market cap
- $94.5B
- #126 in S&P 500
- P/E (TTM)
- 21.3x
- Forward P/E
- 18.8x
- EPS (TTM)
- $16.39
- Revenue (TTM)
- $54.9B
- +8%
- Free cash flow
- $6.4B
- Gross margin
- 15.4%
- Operating margin
- 10.4%
- Return on equity
- 17.8%
- Dividend yield
- 1.82%
- 52-week range
- $306.77 – $400.00
- Beta
- 0.33
- Price / sales
- 1.7x
- EV / EBITDA
- 15.0x
- Debt / equity
- 0.35x
- Employees
- 117,000
GD report card
C+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth8.1%C
- Gross margin15.4%D
- Operating margin10.4%C
- FCF margin11.8%C
- Return on equity17.8%B
- Net debt / EBITDA0.8xB
- Forward P/E18.8xB
- PEG ratio2.1xD
- Shareholder yield2.5%C
- Share count change / yr-1.1%B
General Dynamics financials
Revenue went from $30.6B in fiscal 2016 to $52.5B in fiscal 2025, growing 6.2% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $30.6B | $31.0B | $36.2B | $39.4B | $37.9B | $38.5B | $39.4B | $42.3B | $47.7B | $52.5B |
| Gross profit | $5.7B | $6.2B | $6.7B | $7.1B | — | — | — | — | — | — |
| Operating income | $3.7B | $4.2B | $4.4B | $4.6B | $4.1B | $4.2B | $4.2B | $4.2B | $4.8B | $5.4B |
| Net income | $2.6B | $2.9B | $3.3B | $3.5B | $3.2B | $3.3B | $3.4B | $3.3B | $3.8B | $4.2B |
| EPS (diluted) | $8.29 | $9.56 | $11.18 | $11.98 | $11.00 | $11.55 | $12.19 | $12.02 | $13.63 | $15.45 |
| Free cash flow | — | $3.4B | $2.5B | $2.0B | $2.9B | $3.4B | $3.5B | $3.8B | $3.2B | $4.0B |
| Buybacks | $2.0B | $1.6B | $1.8B | $231.0M | $587.0M | $1.8B | $1.2B | $434.0M | $1.5B | $637.0M |
| Dividends paid | $911.0M | $986.0M | $1.1B | $1.2B | $1.2B | $1.3B | $1.4B | $1.4B | $1.5B | $1.6B |
| Diluted shares | 310.4M | 304.6M | 299.2M | 290.8M | 287.9M | 282.0M | 278.2M | 275.7M | 277.5M | 272.4M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into GD?
A reverse DCF asks what growth the current price requires. With an enterprise value of $99.7B and $6.4B of trailing free cash flow, General Dynamics needs to grow free cash flow about 4.2% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 6.5% a year over the last five years.
P/E ratio history
Current 22.6x vs. median 17.8x (10th–90th percentile 9.8x–24.0x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
GD dividend
- Dividend yield
- 1.82%
- Annual dividend
- $6.36
- Years of increases
- 34
- 5-yr dividend growth
- 6.5%
- per year
- Payout ratio
- 38%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
GD analyst price targets
21 analysts' average 12-month target is $406.78 (+16% vs. $349.36). Targets range from $309.00 to $465.00. 58% rate it a buy.
GD earnings
Next report: October 30, 2026. General Dynamics has beaten EPS estimates 7 quarters in a row. Last quarter's revenue was $14.1B (+8% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 29, 2026 | $3.97 | $4.24 | +6.9% |
| Apr 29, 2026 | $3.69 | $4.10 | +11.1% |
| Jan 28, 2026 | $4.12 | $4.17 | +1.3% |
| Oct 24, 2025 | $3.71 | $3.88 | +4.6% |
| Jul 23, 2025 | $3.54 | $3.74 | +5.6% |
| Apr 23, 2025 | $3.48 | $3.66 | +5.3% |
| Jan 29, 2025 | $4.04 | $4.15 | +2.7% |
| Oct 23, 2024 | $3.51 | $3.35 | -4.5% |
Stocks like GD
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 GE GE Aerospace | -2.69% | -6% | $296.4B | 32.6x | Compare |
 RTX RTX | -1.90% | +8% | $257.8B | 31.1x | Compare |
 BA Boeing | +0.43% | -14% | $148.9B | 67.3x | Compare |
 LMT Lockheed Martin | +2.42% | +27% | $139.6B | 21.5x | Compare |
 NOC Northrop Grumman | -0.16% | -7% | $78.3B | 17.4x | Compare |
 HWM Howmet Aerospace | -3.82% | -7% | $74.1B | 40.1x | Compare |
 TDG Transdigm | -3.23% | -18% | $61.1B | 33.5x | Compare |
 HONA Honeywell Aerospace | +0.18% | — | $51.8B | 49.8x | Compare |
GD news
- General Dynamics (GD) Wins Navy Electronics Attack Unit Production Contract · Oct 24, 2026
- Amy Johnson Appointed President of GDIT · Oct 23, 2026
- General Dynamics (GD) Earnings Expected to Grow: What to Know Ahead of Next Week's Release · Oct 23, 2026
- General Dynamics Reports Soon: How Has The Stock Reacted To Past Earnings? · Oct 22, 2026
- General Dynamics (GD): Is This Aerospace Dividend Stock Undervalued? · Oct 21, 2026
GD stock FAQ
What is GD's market cap?
General Dynamics's market capitalization is $94.52 billion as of October 23, 2026, ranking 126th in the S&P 500.
What is GD's P/E ratio?
GD trades at a trailing price-to-earnings ratio of 21.3x and a forward P/E of 18.8x. Its median P/E over the period we track is 17.8x.
Does GD pay a dividend?
Yes. General Dynamics pays $6.36 per share a year, a 1.82% yield. It has raised its dividend 34 years in a row. Dividends grew 6.5% a year over the last five years.
How much has GD stock returned?
Including reinvested dividends, GD returned +4.2% over one year, +13.1% a year over five years, +11.2% a year over ten years through October 23, 2026.
Is GD stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies General Dynamics must grow free cash flow about 4% a year for the next decade. Its free cash flow grew 6% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the GD price target?
21 analysts cover GD with an average 12-month price target of $406.78, +16% from the current price. 58% of them rate it a buy.
When does GD report earnings?
General Dynamics is expected to report earnings on October 30, 2026. It has beaten EPS estimates 7 quarters in a row.
How many employees does General Dynamics have?
General Dynamics has about 117,000 full-time employees, or $468,897 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology