GENERAL DYNAMICS CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 284.4 USD | -0.17% |
|
-1.46% | +9.53% |
| Apr. 26 | US announces purchase of $6 bln in weapons for Ukraine | RE |
| Apr. 26 | UBS Adjusts General Dynamics Price Target to $310 From $306, Maintains Neutral Rating | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 50,898 | 42,609 | 58,108 | 67,986 | 70,736 | 77,906 | - | - |
| Enterprise Value (EV) 1 | 61,926 | 52,783 | 68,000 | 77,240 | 78,084 | 84,194 | 83,339 | 82,767 |
| P/E ratio | 14.7 x | 13.5 x | 18 x | 20.4 x | 21.6 x | 19.5 x | 17.3 x | 16 x |
| Yield | 2.31% | 2.96% | 2.28% | 2.03% | - | 1.96% | 2.13% | 2.27% |
| Capitalization / Revenue | 1.29 x | 1.12 x | 1.51 x | 1.73 x | 1.67 x | 1.66 x | 1.6 x | 1.55 x |
| EV / Revenue | 1.57 x | 1.39 x | 1.77 x | 1.96 x | 1.85 x | 1.79 x | 1.71 x | 1.65 x |
| EV / EBITDA | 11.3 x | 10.5 x | 13.5 x | 15.2 x | 15.3 x | 14.1 x | 12.9 x | 12.3 x |
| EV / FCF | 31.1 x | 18.3 x | 20.1 x | 22.3 x | 20.5 x | 20.2 x | 18.5 x | 17.7 x |
| FCF Yield | 3.22% | 5.48% | 4.98% | 4.49% | 4.87% | 4.95% | 5.39% | 5.66% |
| Price to Book | 3.76 x | 2.72 x | 3.28 x | 3.67 x | 3.34 x | 3.53 x | 3.38 x | 3.25 x |
| Nbr of stocks (in thousands) | 288,619 | 286,314 | 278,734 | 274,017 | 272,408 | 273,923 | - | - |
| Reference price 2 | 176.4 | 148.8 | 208.5 | 248.1 | 259.7 | 284.4 | 284.4 | 284.4 |
| Announcement Date | 1/29/20 | 1/27/21 | 1/26/22 | 1/25/23 | 1/24/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 39,350 | 37,925 | 38,469 | 39,407 | 42,272 | 46,943 | 48,784 | 50,214 |
| EBITDA 1 | 5,477 | 5,011 | 5,053 | 5,095 | 5,108 | 5,985 | 6,476 | 6,748 |
| EBIT 1 | 4,648 | 4,133 | 4,163 | 4,211 | 4,245 | 5,118 | 5,599 | 5,894 |
| Operating Margin | 11.81% | 10.9% | 10.82% | 10.69% | 10.04% | 10.9% | 11.48% | 11.74% |
| Earnings before Tax (EBT) 1 | 4,202 | 3,738 | 3,873 | 4,036 | 3,984 | 4,844 | 5,335 | 5,654 |
| Net income 1 | 3,484 | 3,167 | 3,257 | 3,390 | 3,315 | 4,007 | 4,421 | 4,658 |
| Net margin | 8.85% | 8.35% | 8.47% | 8.6% | 7.84% | 8.54% | 9.06% | 9.28% |
| EPS 2 | 11.98 | 11.00 | 11.55 | 12.19 | 12.02 | 14.61 | 16.43 | 17.78 |
| Free Cash Flow 1 | 1,994 | 2,891 | 3,384 | 3,465 | 3,806 | 4,167 | 4,496 | 4,688 |
| FCF margin | 5.07% | 7.62% | 8.8% | 8.79% | 9% | 8.88% | 9.22% | 9.34% |
| FCF Conversion (EBITDA) | 36.41% | 57.69% | 66.97% | 68.01% | 74.51% | 69.63% | 69.42% | 69.46% |
| FCF Conversion (Net income) | 57.23% | 91.29% | 103.9% | 102.21% | 114.81% | 103.99% | 101.69% | 100.64% |
| Dividend per Share 2 | 4.080 | 4.400 | 4.760 | 5.040 | - | 5.573 | 6.045 | 6.470 |
| Announcement Date | 1/29/20 | 1/27/21 | 1/26/22 | 1/25/23 | 1/24/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 10,292 | 9,392 | 9,189 | 9,975 | 10,851 | 9,881 | 10,152 | 10,571 | 11,668 | 10,731 | 11,688 | 11,934 | 12,649 | 11,615 | 12,042 |
| EBITDA 1 | 1,426 | 1,121 | 1,190 | 1,317 | 1,467 | 1,164 | 1,169 | 1,265 | 1,510 | 1,247 | 1,403 | 1,590 | 1,773 | 1,457 | 1,539 |
| EBIT 1 | 1,186 | 908 | 978 | 1,098 | 1,227 | 938 | 962 | 1,057 | 1,288 | 1,036 | 1,199 | 1,355 | 1,533 | 1,241 | 1,350 |
| Operating Margin | 11.52% | 9.67% | 10.64% | 11.01% | 11.31% | 9.49% | 9.48% | 10% | 11.04% | 9.65% | 10.26% | 11.35% | 12.12% | 10.68% | 11.21% |
| Earnings before Tax (EBT) 1 | 1,132 | 849 | 923 | 1,053 | 1,211 | 880 | 886 | 991 | 1,227 | 968 | 1,137 | 1,289 | 1,452 | 1,174 | 1,282 |
| Net income 1 | 952 | 730 | 766 | 902 | 992 | 730 | 744 | 836 | 1,005 | 799 | 934.1 | 1,063 | 1,211 | 965.1 | 1,064 |
| Net margin | 9.25% | 7.77% | 8.34% | 9.04% | 9.14% | 7.39% | 7.33% | 7.91% | 8.61% | 7.45% | 7.99% | 8.91% | 9.57% | 8.31% | 8.84% |
| EPS 2 | 3.390 | 2.610 | 2.750 | 3.260 | 3.580 | 2.640 | 2.700 | 3.040 | 3.640 | 2.880 | 3.397 | 3.875 | 4.450 | 3.598 | 3.907 |
| Dividend per Share 2 | 1.190 | 1.260 | 1.260 | 1.260 | 1.260 | 1.320 | 1.320 | 1.320 | - | - | 1.390 | 1.393 | 1.390 | 1.457 | 1.486 |
| Announcement Date | 1/26/22 | 4/27/22 | 7/27/22 | 10/26/22 | 1/25/23 | 4/26/23 | 7/26/23 | 10/25/23 | 1/24/24 | 4/24/24 | - | - | - | - | - |
1USD in Million2USD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 11,028 | 10,174 | 9,892 | 9,254 | 7,348 | 6,288 | 5,432 | 4,861 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.014 x | 2.03 x | 1.958 x | 1.816 x | 1.439 x | 1.051 x | 0.8388 x | 0.7203 x |
| Free Cash Flow 1 | 1,994 | 2,891 | 3,384 | 3,465 | 3,806 | 4,167 | 4,496 | 4,688 |
| ROE (net income / shareholders' equity) | 27.2% | 22% | 20.4% | 18.7% | 16.8% | 18.4% | 19.5% | 19.9% |
| ROA (Net income/ Total Assets) | 7.39% | 6.29% | 6.43% | 6.67% | 6.23% | 7.25% | 7.78% | 8.18% |
| Assets 1 | 47,124 | 50,326 | 50,690 | 50,829 | 53,197 | 55,248 | 56,843 | 56,954 |
| Book Value Per Share 2 | 46.90 | 54.70 | 63.50 | 67.70 | 77.90 | 80.50 | 84.10 | 87.50 |
| Cash Flow per Share 2 | 10.30 | 13.40 | 15.10 | 16.50 | 17.10 | 18.60 | 19.70 | 21.60 |
| Capex 1 | 987 | 967 | 887 | 1,114 | 904 | 1,054 | 984 | 973 |
| Capex / Sales | 2.51% | 2.55% | 2.31% | 2.83% | 2.14% | 2.25% | 2.02% | 1.94% |
| Announcement Date | 1/29/20 | 1/27/21 | 1/26/22 | 1/25/23 | 1/24/24 | - | - | - |
1USD in Million2USD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
BUY
Number of Analysts
24
Last Close Price
284.4
USD
Average target price
308.5
USD
Spread / Average Target
+8.48%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +9.53% | 77.91B | |
| +20.53% | 135B | |
| +2.63% | 71.1B | |
| +20.67% | 50.29B | |
| +40.51% | 43.87B | |
| +1.86% | 40.78B | |
| +42.10% | 31.95B | |
| +19.32% | 23.26B | |
| +29.77% | 20.94B | |
| +45.70% | 13.36B |
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