General Dynamics Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	52,550	47,716	42,272	39,407	38,469
Revenue Growth (YoY)	10.13%	12.88%	7.27%	2.44%	1.43%
Cost of Revenue	44,599	40,352	35,600	32,785	32,061
Gross Profit	7,951	7,364	6,672	6,622	6,408
Selling, General & Admin	2,531	2,595	2,965	2,021	2,027
Operating Expenses	2,531	2,595	2,965	2,021	2,027
Operating Income	5,420	4,769	3,707	4,601	4,381
Interest Expense	-402	-393	-399	-391	-431
Interest & Investment Income	88	69	56	27	7
Other Non Operating Income (Expenses)	-3	95	620	-201	-84
Pretax Income	5,103	4,540	3,984	4,036	3,873
Income Tax Expense	893	758	669	646	616
Earnings From Continuing Operations	4,210	3,782	3,315	3,390	3,257
Net Income	4,210	3,782	3,315	3,390	3,257
Net Income to Common	4,210	3,782	3,315	3,390	3,257
Net Income Growth	11.32%	14.09%	-2.21%	4.08%	2.84%
Shares Outstanding (Basic)	269	274	273	275	280
Shares Outstanding (Diluted)	272	277	276	278	282
Shares Change (YoY)	-1.82%	0.64%	-0.88%	-1.36%	-2.05%
EPS (Basic)	15.65	13.81	12.14	12.31	11.61
EPS (Diluted)	15.45	13.63	12.02	12.19	11.55
EPS Growth	13.35%	13.39%	-1.40%	5.54%	5.00%
Free Cash Flow	3,949	3,190	3,802	3,485	3,364
Free Cash Flow Per Share	14.50	11.50	13.79	12.53	11.93
Dividend Per Share	6.000	5.680	5.280	5.040	4.760
Dividend Growth	5.63%	7.58%	4.76%	5.88%	8.18%
Gross Margin	15.13%	15.43%	15.78%	16.80%	16.66%
Operating Margin	10.31%	9.99%	8.77%	11.68%	11.39%
Profit Margin	8.01%	7.93%	7.84%	8.60%	8.47%
Free Cash Flow Margin	7.51%	6.69%	8.99%	8.84%	8.74%
EBITDA	6,344	5,655	4,570	5,485	5,271
EBITDA Margin	12.07%	11.85%	10.81%	13.92%	13.70%
D&A For EBITDA	924	886	863	884	890
EBIT	5,420	4,769	3,707	4,601	4,381
EBIT Margin	10.31%	9.99%	8.77%	11.68%	11.39%
Effective Tax Rate	17.50%	16.70%	16.79%	16.01%	15.90%
Revenue as Reported	52,550	47,716	42,272	39,407	38,469

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.