General Dynamics Corporation (FRA:GDX)

General Dynamics Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	4,210	3,782	3,315	3,390	3,257
Depreciation & Amortization	924	886	863	884	890
Stock-Based Compensation	196	183	181	165	126
Other Operating Activities	-402	111	-493	-540	-638
Change in Accounts Receivable	410	-245	951	-210	-272
Change in Inventory	450	-1,195	-2,219	-980	405
Change in Accounts Payable	-664	247	-303	224	194
Change in Unearned Revenue	-4	343	2,415	2,082	354
Change in Income Taxes	-	-	-	-436	-45
Operating Cash Flow	5,110	4,106	4,706	4,599	4,251
Operating Cash Flow Growth	24.45%	-12.75%	2.33%	8.19%	11.90%
Capital Expenditures	-1,161	-916	-904	-1,114	-887
Other Investing Activities	-123	-37	-37	-375	5
Investing Cash Flow	-1,284	-953	-941	-1,489	-882
Short-Term Debt Issued	-	-	-	-	1,997
Long-Term Debt Issued	747	-	-	-	1,497
Total Debt Issued	747	-	-	-	3,494
Short-Term Debt Repaid	-	-	-	-	-1,997
Long-Term Debt Repaid	-1,500	-500	-1,250	-1,000	-3,000
Total Debt Repaid	-1,500	-500	-1,250	-1,000	-4,997
Net Debt Issued (Repaid)	-753	-500	-1,250	-1,000	-1,503
Repurchase of Common Stock	-637	-1,501	-434	-1,229	-1,828
Common Dividends Paid	-1,593	-1,529	-1,428	-1,369	-1,315
Other Financing Activities	-207	161	18	127	56
Financing Cash Flow	-3,190	-3,369	-3,094	-3,471	-4,590
Net Cash Flow	636	-216	671	-361	-1,221
Free Cash Flow	3,949	3,190	3,802	3,485	3,364
Free Cash Flow Growth	23.79%	-16.10%	9.10%	3.60%	18.79%
Free Cash Flow Margin	7.51%	6.69%	8.99%	8.84%	8.74%
Free Cash Flow Per Share	14.50	11.50	13.79	12.53	11.93
Cash Interest Paid	376	385	378	383	433
Cash Income Tax Paid	568	560	1,100	1,245	740
Levered Free Cash Flow	3,357	2,304	2,127	2,293	2,938
Unlevered Free Cash Flow	3,609	2,550	2,376	2,538	3,207
Change in Working Capital	192	-850	844	680	636

Source: S&P Global Market Intelligence. Standard template. Financial Sources.