General Dynamics Corporation (GD) quarterly income statement — complete revenue, gross profit & net income history
| Metric | 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 | Q2'21 |
|---|
| Sales/Revenue | 13.48B | 14.38B | 12.91B | 13.04B | 12.22B | 13.34B | 11.67B | 11.98B | 10.73B | 11.67B | 10.57B | 10.15B | 9.88B | 10.85B | 9.97B | 9.19B | 9.39B | 10.29B | 9.57B | 9.22B |
| Revenue Growth % | 10.29% | 7.8% | 10.59% | 8.89% | 13.9% | 14.31% | 10.41% | 17.97% | 8.6% | 7.53% | 5.97% | 10.48% | 5.21% | 5.43% | 4.25% | -0.34% | 0.03% | -1.8% | 1.45% | -0.47% |
| Cost of Goods Sold | 11.34B | 12.24B | 10.94B | 11.09B | 10.33B | 11.25B | 9.86B | 10.18B | 9.07B | 9.74B | 8.91B | 8.59B | 8.36B | 9.02B | 8.31B | 7.6B | 7.86B | 8.53B | 7.94B | 7.71B |
| COGS % of Revenue | 84.1% | 85.11% | 84.75% | 85.05% | 84.51% | 84.37% | 84.44% | 84.97% | 84.5% | 83.52% | 84.32% | 84.56% | 84.58% | 83.13% | 83.31% | 82.67% | 83.67% | 82.84% | 82.96% | 83.57% |
| Gross Profit | 2.14B | 2.14B | 1.97B | 1.95B | 1.89B | 2.08B | 1.82B | 1.8B | 1.66B | 1.92B | 1.66B | 1.57B | 1.52B | 1.83B | 1.67B | 1.59B | 1.53B | 1.77B | 1.63B | 1.51B |
| Gross Margin % | 15.9% | 14.89% | 15.25% | 14.95% | 15.49% | 15.63% | 15.56% | 15.03% | 15.5% | 16.48% | 15.68% | 15.44% | 15.42% | 16.87% | 16.69% | 17.33% | 16.33% | 17.16% | 17.04% | 16.43% |
| Gross Profit Growth % | 13.21% | 2.69% | 8.37% | 8.28% | 13.83% | 8.42% | 9.53% | 14.87% | 9.12% | 5.02% | -0.42% | -1.57% | -0.65% | 3.68% | 2.15% | 5.08% | 2.47% | -4.54% | 2.9% | 7.6% |
| Operating Expenses | 723M | 689M | 637M | 644M | 625M | 662M | 635M | 644M | 627M | 635M | 601M | 605M | 586M | 604M | 567M | 614M | 626M | 580M | 550M | 556M |
| OpEx % of Revenue | 5.36% | 4.79% | 4.94% | 4.94% | 5.11% | 4.96% | 5.44% | 5.38% | 5.84% | 5.44% | 5.69% | 5.96% | 5.93% | 5.57% | 5.68% | 6.68% | 6.67% | 5.64% | 5.75% | 6.03% |
| Selling, General & Admin | 723M | 683M | 637M | 644M | 625M | 662M | 635M | 644M | 627M | 635M | 601M | 605M | 586M | 604M | 567M | 614M | 626M | 580M | 550M | 556M |
| SG&A % of Revenue | 5.36% | 4.75% | 4.94% | 4.94% | 5.11% | 4.96% | 5.44% | 5.38% | 5.84% | 5.44% | 5.69% | 5.96% | 5.93% | 5.57% | 5.68% | 6.68% | 6.67% | 5.64% | 5.75% | 6.03% |
| Research & Development | 0 | 486M | 0 | 0 | 0 | 565M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | 3.38% | - | - | - | 4.24% | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | -1000K | 0 | 0 | 0 | -1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 1.42B | 1.45B | 1.33B | 1.3B | 1.27B | 1.42B | 1.18B | 1.16B | 1.04B | 1.29B | 1.06B | 962M | 938M | 1.23B | 1.1B | 978M | 908M | 1.19B | 1.08B | 959M |
| Operating Margin % | 10.53% | 10.1% | 10.31% | 10.01% | 10.37% | 10.67% | 10.12% | 9.65% | 9.65% | 11.04% | 10% | 9.48% | 9.49% | 11.31% | 11.01% | 10.64% | 9.67% | 11.52% | 11.29% | 10.4% |
| Operating Income Growth % | 11.99% | 2.04% | 12.7% | 12.89% | 22.39% | 10.48% | 11.73% | 20.17% | 10.45% | 4.97% | -3.73% | -1.64% | 3.3% | 3.46% | 1.67% | 1.98% | -3.2% | -6.39% | 0.75% | 14.99% |
| EBITDA | 1.65B | 1.46B | 1.56B | 1.53B | 1.49B | 1.66B | 1.4B | 1.37B | 1.25B | 1.51B | 1.26B | 1.17B | 1.16B | 1.47B | 1.32B | 1.19B | 1.12B | 1.43B | 1.29B | 1.18B |
| EBITDA Margin % | 12.25% | 10.15% | 12.06% | 11.72% | 12.2% | 12.47% | 11.99% | 11.46% | 11.62% | 12.94% | 11.97% | 11.52% | 11.78% | 13.52% | 13.2% | 12.95% | 11.94% | 13.86% | 13.49% | 12.83% |
| EBITDA Growth % | 10.8% | -12.21% | 11.29% | 11.29% | 19.57% | 10.13% | 10.59% | 17.45% | 7.13% | 2.93% | -3.95% | -1.76% | 3.84% | 2.88% | 2.01% | 0.59% | -2.78% | -5.06% | 0.55% | 12.35% |
| D&A (Non-Cash Add-back) | 232M | 8M | 226M | 223M | 223M | 240M | 218M | 217M | 211M | 222M | 208M | 207M | 226M | 240M | 219M | 212M | 213M | 240M | 211M | 224M |
| EBIT | 1.42B | 1.51B | 1.33B | 1.3B | 1.27B | 1.56B | 1.18B | 1.16B | 1.04B | 1.43B | 1.06B | 962M | 938M | 1.44B | 1.1B | 978M | 908M | 1.33B | 1.08B | 959M |
| Net Interest Income | -69M | -63M | -74M | -88M | -89M | -76M | -82M | -84M | -82M | -78M | -85M | -89M | -91M | -85M | -86M | -95M | -98M | -93M | -99M | -109M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 69M | 63M | 74M | 88M | 89M | 76M | 82M | 84M | 82M | 78M | 85M | 89M | 91M | 85M | 86M | 95M | 98M | 93M | 99M | 109M |
| Other Income/Expense | -51M | -53M | -59M | -73M | -68M | -55M | -67M | -66M | -68M | -61M | -66M | -76M | -58M | -16M | -45M | -55M | -59M | -54M | -65M | -78M |
| Pretax Income | 1.37B | 1.4B | 1.27B | 1.23B | 1.2B | 1.37B | 1.11B | 1.09B | 968M | 1.23B | 991M | 886M | 880M | 1.21B | 1.05B | 923M | 849M | 1.13B | 1.01B | 881M |
| Pretax Margin % | 10.15% | 9.73% | 9.86% | 9.45% | 9.82% | 10.26% | 9.54% | 9.1% | 9.02% | 10.52% | 9.37% | 8.73% | 8.91% | 11.16% | 10.56% | 10.04% | 9.04% | 11% | 10.61% | 9.56% |
| Income Tax | 244M | 256M | 213M | 218M | 206M | 220M | 184M | 185M | 169M | 222M | 155M | 142M | 150M | 219M | 151M | 157M | 119M | 180M | 155M | 144M |
| Effective Tax Rate % | 17.82% | 18.3% | 16.75% | 17.69% | 17.17% | 16.08% | 16.52% | 16.97% | 17.46% | 18.09% | 15.64% | 16.03% | 17.05% | 18.08% | 14.34% | 17.01% | 14.02% | 15.9% | 15.27% | 16.35% |
| Net Income | 1.13B | 1.14B | 1.06B | 1.01B | 994M | 1.15B | 930M | 905M | 799M | 1B | 836M | 744M | 730M | 992M | 902M | 766M | 730M | 952M | 860M | 737M |
| Net Margin % | 8.35% | 7.95% | 8.2% | 7.78% | 8.13% | 8.61% | 7.97% | 7.56% | 7.45% | 8.61% | 7.91% | 7.33% | 7.39% | 9.14% | 9.04% | 8.34% | 7.77% | 9.25% | 8.99% | 7.99% |
| Net Income Growth % | 13.18% | -0.44% | 13.87% | 12.04% | 24.41% | 14.23% | 11.24% | 21.64% | 9.45% | 1.31% | -7.32% | -2.87% | 0% | 4.2% | 4.88% | 3.93% | 3.11% | -4.99% | 3.12% | 17.92% |
| Net Income (Continuing) | 1.13B | 1.14B | 1.06B | 1.01B | 994M | 1.15B | 930M | 905M | 799M | 1B | 836M | 744M | 730M | 992M | 902M | 766M | 730M | 952M | 860M | 737M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 4.10 | 4.17 | 3.89 | 3.74 | 3.66 | 4.15 | 3.35 | 3.26 | 2.88 | 3.64 | 3.04 | 2.70 | 2.64 | 3.58 | 3.26 | 2.75 | 2.61 | 3.39 | 3.07 | 2.61 |
| EPS Growth % | 12.02% | 0.48% | 16.12% | 14.72% | 27.08% | 14.01% | 10.2% | 20.74% | 9.09% | 1.68% | -6.75% | -1.82% | 1.15% | 5.6% | 6.19% | 5.36% | 5.24% | -2.87% | 5.86% | 19.72% |
| EPS (Basic) | 4.16 | 4.23 | 3.94 | 3.78 | 3.69 | 4.20 | 3.39 | 3.30 | 2.92 | 3.68 | 3.07 | 2.72 | 2.66 | 3.62 | 3.29 | 2.77 | 2.63 | 3.42 | 3.09 | 2.63 |
| Diluted Shares Outstanding | 274.1M | 273.9M | 271.8M | 270.94M | 271.75M | 276.9M | 277.9M | 277.72M | 277M | 275.9M | 274.75M | 275.09M | 276.65M | 277.2M | 276.38M | 278.94M | 279.94M | 280.6M | 280.4M | 282.21M |
| Basic Shares Outstanding | 270.2M | 269.9M | 268.8M | 268.14M | 269.04M | 273.4M | 274.4M | 274.12M | 273.5M | 272.8M | 272.58M | 273.14M | 274M | 274M | 273.92M | 276.27M | 277.07M | 278.3M | 278.6M | 280.74M |
| Dividend Payout Ratio | 36% | 35.43% | 38.05% | 39.65% | 38.53% | 33.88% | 41.94% | 42.98% | 45.18% | 35.82% | 43.42% | 48.39% | 47.26% | 34.78% | 38.25% | 45.56% | 45.21% | 34.87% | 38.6% | 45.59% |