How Does General Dynamics Make its Money?
General Dynamics is a global aerospace and defense company operating in four business segments: Aerospace (Gulfstream business jets), Marine Systems (nuclear submarines and surface combatants), Combat Systems (tanks and armored vehicles), and Technologies (IT services and C4ISR). The company is a prime contractor on critical US military programs, including the Columbia-class ballistic missile submarine — the Pentagon’s top acquisition priority — and the Abrams main battle tank. Gulfstream, which makes the world’s most popular ultra-long-range business jets, provides a unique commercial diversification.
General Dynamics (GD) Business Model
General Dynamics operates in the aerospace & defense sector. Below is a summary of General Dynamics’ revenue streams, how the company generates income, and the key financial metrics from its most recent annual report. This breakdown uses data from General Dynamics’ 2024 fiscal year filings with the SEC.
General Dynamics Competitors
General Dynamics’s key competitors and comparable public companies in the aerospace & defense sector include Lockheed Martin, Northrop Grumman, RTX Corporation, and Boeing. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how General Dynamics stacks up by comparing their revenue breakdown, margins, and growth metrics.
General Dynamics Competitors
General Dynamics’s key competitors and comparable public companies in the aerospace & defense sector include Lockheed Martin, Northrop Grumman, RTX Corporation, and Boeing. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how General Dynamics stacks up by comparing their revenue breakdown, margins, and growth metrics.
General Dynamics Competitors
General Dynamics’s key competitors and comparable public companies in the aerospace & defense sector include Lockheed Martin, Northrop Grumman, RTX Corporation, and Boeing. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how General Dynamics stacks up by comparing their revenue breakdown, margins, and growth metrics.
General Dynamics Competitors
General Dynamics’s key competitors and comparable public companies in the aerospace & defense sector include Lockheed Martin, Northrop Grumman, RTX Corporation, and Boeing. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how General Dynamics stacks up by comparing their revenue breakdown, margins, and growth metrics.
General Dynamics Competitors
General Dynamics’s key competitors and comparable public companies in the aerospace & defense sector include Lockheed Martin, Northrop Grumman, RTX Corporation, and Boeing. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how General Dynamics stacks up by comparing their revenue breakdown, margins, and growth metrics.
General Dynamics Competitors
General Dynamics’s key competitors and comparable public companies in the aerospace & defense sector include Lockheed Martin, Northrop Grumman, RTX Corporation, and Boeing. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how General Dynamics stacks up by comparing their revenue breakdown, margins, and growth metrics.
Revenue Breakdown
| Segment | 2024 | 2023 | YoY Growth |
|---|---|---|---|
| Aerospace (Gulfstream) | $12,200 | $10,700 | +14.0% |
| Marine Systems | $13,700 | $12,100 | +13.2% |
| Combat Systems | $9,000 | $8,100 | +11.1% |
| Technologies | $13,600 | $12,700 | +7.1% |
| Total Revenue | $46,400 | $42,300 | +9.7% |
Aerospace (Gulfstream) — 26% of Revenue
Marine Systems — 30% of Revenue
Combat Systems — 19% of Revenue
Technologies — 29% of Revenue
Income Statement Overview
| Metric | 2024 | 2023 |
|---|---|---|
| Total Revenue | $46,400 | $42,300 |
| Cost of Revenue | $38,100 | $35,000 |
| Gross Profit | $8,300 | $7,300 |
| Operating Expenses | $2,400 | $2,100 |
| Operating Income | $5,900 | $5,200 |
| Net Income | $3,900 | $3,500 |
All values in millions USD unless otherwise stated.
Key Financial Metrics
- Gross Margin: 17.9%
- Operating Margin: 12.7%
- Revenue Growth: 9.7%
Is General Dynamics Profitable?
Yes, General Dynamics is profitable. The company reported net income of $3,900 on total revenue of $46,400. With an operating margin of 12.7%, General Dynamics demonstrates solid profitability for the aerospace & defense sector. The gross margin of 17.9% reflects General Dynamics’ pricing power and cost structure.
What to Watch
- Columbia-class submarine program execution and production ramp-up
- Gulfstream G700 and G800 deliveries and business jet demand cycle
- Rising NATO defense spending driving Combat Systems backlog
- Technologies segment growth from classified and cybersecurity contracts
General Dynamics (GD) Financial Summary
General Dynamics (GD) is an aerospace & defense company that generated $46,400 in total revenue in fiscal year 2024. Revenue grew 9.7% year-over-year. The company earned $3,900 in net income, making it profitable. For a deeper look at General Dynamics’ revenue breakdown, business segments, and financial performance, review the detailed analysis above.