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General Dynamics Balance Sheet Statement

Assets, liabilities, and shareholders' equity

General Dynamics holds $59.0B in total assets. Shareholders' equity is $26.1B against $9.9B in total debt. Cash and equivalents total $3.7B. The current ratio is 1.38 and debt-to-equity is 0.379. Based on the Q1 2026 filing.

Total Assets$59.0BTotal Stockholders Equity$26.1BLong Term Debt$8.1BCash And Equivalents$3.7BTotal Current Assets$26.1BTotal Current Liabilities$18.8B
Latest FilingQ1 2026
Report Date2026-04-29
Market Cap$92.7B
P/E Ratio21.36
ROE17.97%

Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accounts payable$3.3B$3.4B$3.1B$3.5B$2.7B$2.8B
Accrued Manufacturing Costs$1.3B$986.0M$1.2B$1.2B$1.1B$1.1B
Compensation and benefits$1.3B$986.0M$1.2B$1.2B$1.1B$1.1B
Other accrued liabilities$3.5B$3.3B$3.4B$3.5B$3.3B$3.4B
Deferred revenue$9.5B$9.8B$10.7B$10.5B$9.8B$10.8B
Dividends payable$390.0M$404.0M$401.0M$405.0M$407.0M$431.0M
Operating lease liabilities, current$253.0M$318.0M$318.0M$313.0M$299.0M$307.0M
Total current liabilities$17.8B$18.8B$18.4B$18.5B$16.8B$18.8B

Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accounts receivable, net$3.0B$3.3B$3.6B$3.3B$2.4B$2.3B
Cash and cash equivalents$1.7B$1.2B$1.5B$2.5B$2.3B$3.7B
Finished goods$26.0M———$18.0M—
Other current assets$1.7B$1.6B$1.6B$1.6B$1.9B$1.9B
Trading assets$0.0———$0.0—
Finished goods$26.0M$33.0M$78.0M$22.0M$18.0M$118.0M
Raw materials$3.4B———$3.2B—
Work in process$6.3B$6.2B$6.2B$6.3B$5.9B$5.8B
Inventories$9.7B$9.8B$9.9B$9.8B$9.2B$9.2B
Total current assets$24.4B$25.1B$25.1B$25.9B$24.2B$26.1B

Equity

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Additional paid-in capital$4.1B$4.1B$4.2B$4.3B$4.4B$4.4B
Accumulated other comprehensive income (loss)-$1.5B-$1.4B-$795.0M-$860.0M-$483.0M-$557.0M
AOCI - Cash Flow Hedge Adjustment$446.0M———$359.0M—
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively$482.0M$482.0M$482.0M$482.0M$482.0M$482.0M
Treasury Stock, Value$22.5B$23.0B$23.0B$22.9B$22.9B$23.1B
Retained earnings$41.5B$42.1B$42.7B$43.3B$44.1B$44.8B
Total liabilities and stockholders' equity$55.9B$56.6B$56.9B$57.6B$57.2B$59.0B
Total stockholders' equity$22.1B$22.2B$23.6B$24.4B$25.6B$26.1B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aggregate Notional Principal Outstanding$6.2B$5.9B$6.3B$5.6B$8.5B$8.2B
Cumulative Cost Basis$13.6B$13.7B$13.9B$14.1B$15.1B$15.2B
Projected Benefit Obligation for Plans with ABO in Excess of Assets$11.5B———$11.5B—
Common stock, par value (in dollars per share)$1.00———$1.00—
Common stock, shares authorized (in shares)500M———500M—
Common Stock Shares Held In Employee Trust Shares15M———14M—
Common stock, shares issued (in shares)481.9M———481.9M—
Common Stock, Shares, Outstanding270.3M———270.4M—
Construction work in progress$1.2B———$1.5B—
Short-term debt and current portion of long-term debt$1.5B$2.3B$1.2B$1.0B$1.0B$1.8B
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net$64.0M$69.0M$68.0M$64.0M$61.0M$58.0M
Long-term debt$7.3B$7.3B$7.5B$7.0B$7.0B$6.3B
Debt, Long-Term And Short-Term, Combined Amount, Net$8.8B$9.6B$8.7B$8.0B$8.0B$8.0B
Deferred Tax Liabilities, Gross$3.0B———$3.0B—
Deferred income taxes$573.0M$530.0M$519.0M$771.0M$956.0M$1.2B
Research and development expenditures$968.0M———$500.0M—
Lease liabilities$441.0M———$412.0M—
Deferred Tax Assets, Gross$2.6B———$2.2B—
Deferred Tax Assets, Net of Valuation Allowance$2.4B———$2.0B—
Deferred Tax Assets, Operating Loss Carryforwards$630.0M———$663.0M—
Compensation and benefits$251.0M———$115.0M—
Workers’ compensation$153.0M———$160.0M—
Deferred Tax Assets, Valuation Allowance$169.0M———$158.0M—
Deferred Tax Liabilities, Net$554.0M$513.0M$503.0M$752.0M$937.0M$1.2B
Deferred Tax Liabilities, Deferred Tax Expense, Right-of-Use Asset$425.0M———$401.0M—
Deferred Tax Liabilities, Other$315.0M———$315.0M—
Deferred Tax Liabilities, Property, Plant and Equipment$447.0M———$450.0M—
Deferred Tax Liability Capital Construction Fund$57.0M———$57.0M—
Deferred Tax liability Long Term Contract Accounting Methods$682.0M———$670.0M—
Fair value of plan assets$9.7B———$10.6B—
Notional$6.2B$5.9B$6.3B$5.6B$8.5B$8.2B
Cash dividend declared (USD per share)$5.68———$6.00—
2027$87.0M———$55.0M—
Finite-Lived Intangible Assets, Accumulated Amortization$2.4B$2.4B$2.5B$2.5B$2.6B$2.6B
2028$174.0M———$169.0M—
2030$142.0M———$131.0M—
2031$125.0M———$121.0M—
2027$178.0M———$175.0M—
2029$167.0M———$147.0M—
Gross Carrying Amount$3.9B$3.9B$3.9B$3.9B$4.0B$3.9B
G&A costs in unbilled revenue$444.0M———$484.0M—
Pre-owned aircraft$23.0M$0.0$105.0M$105.0M$28.0M$47.0M
Raw materials$3.4B$3.5B$3.5B$3.4B$3.2B$3.2B
Investment of U.S. government accounts receivable in the CCF$333.0M———$348.0M—
Land and improvements$438.0M———$522.0M—
Lease liabilities$319.0M———$299.0M—
Lease liabilities$1.6B———$1.5B—
Letters of credit and guarantees$1.8B$2.1B$2.4B$2.2B$2.4B$2.1B
2027$1.5B———$1.0B—
Marketable Securities$218.0M$209.0M$209.0M$203.0M$216.0M$207.0M
Other$1.2B$1.3B$1.3B$1.3B$1.2B$1.3B
Other$2.1B$2.1B$2.1B$2.3B$2.6B$2.9B
Preferred Stock, Par or Stated Value Per Share$1.00———$1.00—
Preferred Stock, Shares Authorized50M———50M—
Preferred Stock, Shares Outstanding0———0—
Standard and Extended Product Warranty Accrual$642.0M$648.0M$644.0M$644.0M$656.0M$667.0M
Remaining performance obligations related to customer contracts that are unsatisfied or partially unsatisfied$90.6B$88.7B$103.7B$109.9B$118.0B$130.8B
RPO percentage—65.0%55.0%45.0%—55.0%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price$205.61———$217.50—
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number6.5M———5.8M—
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number10.2M———9.1M—
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number10.1M———9M—
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value$596.0M———$1.1B—
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price$206.08———$217.93—
Incentive stock program, shares reserved for future grants (in shares)15M———13M—
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value$597.0M———$1.1B—
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price$184.41———$195.45—
Number of additional shares authorized for repurchase (in shares)10M—————
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value$518.0M———$817.0M—
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit$0.0$0.0$0.0$0.0$0.0$0.0
Shares remaining to be repurchased as a percent of total shares outstanding3.4%2.6%2.6%2.5%2.5%2.3%
Stock repurchase program, remaining number of shares authorized to be repurchased9.2M6.9M6.9M6.9M6.8M6.1M
Unbilled balances$40.6B$43.2B$45.0B$46.4B$43.1B$45.5B
Unbilled Receivables, Advances And Progress Payments$32.4B$34.0B$36.6B$37.8B$34.7B$36.5B
Unbilled Receivables$8.2B$9.1B$8.4B$8.6B$8.4B$9.1B
Unrecorded Unconditional Purchase Obligation$201.0M———$25.0M—
Workers’ compensation$244.0M$253.0M$250.0M$254.0M$236.0M$240.0M

Non-Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Contract Liabilities, Non-Current$3.0B$2.7B$1.9B$2.1B$2.6B$2.4B
Defined Benefit Pension Plan Liabilities (Non-Current)$2.0B$2.0B$1.9B$1.8B$1.1B$1.1B
Insurance Liabilities and Annuity Benefits$223.0M———$215.0M—
Long-term debt$8.8B$9.7B$8.8B$8.1B$8.1B$8.1B
Deferred revenue, net of current portion$3.0B$2.7B$1.9B$2.1B$2.6B$2.4B
Retirement and nonpension postretirement benefit obligations$2.0B$2.0B$1.9B$1.8B$1.1B$1.1B
Operating lease liabilities, non-current$1.1B$1.6B$1.6B$1.5B$1.5B$1.5B
Other non-current liabilities$8.7B$8.3B$7.4B$7.7B$7.8B$7.9B
Total noncurrent liabilities$16.0B$15.6B$14.9B$14.7B$14.8B$14.1B

Non-Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred Tax Assets and Other Non-Current Assets$383.0M$2.9B$3.0B$2.9B$385.0M$3.2B
Deferred Tax Assets - Tax Credit Carryforwards$185.0M———$384.0M—
Goodwill$20.6B$20.6B$20.9B$20.9B$21.0B$21.0B
Goodwill and Intangible Assets, Net$1.1B———$1.1B—
Deferred tax assets$19.0M$17.0M$16.0M$19.0M$19.0M$18.0M
Intangible assets — net$1.5B$1.5B$1.4B$1.4B$1.4B$1.3B
Machinery and equipment$7.1B———$7.4B—
Other non-current assets$3.0B$2.9B$3.0B$2.9B$3.1B$3.2B
Property, plant and equipment at cost$13.6B$13.7B$13.9B$14.1B$15.1B$15.2B
Accumulated depreciation$7.1B$7.2B$7.4B$7.5B$7.6B$7.7B
Buildings and improvements$4.9B———$5.8B—
Property and equipment, net$6.5B$6.5B$6.6B$6.6B$7.5B$7.5B
Software and Technology Licenses, Net$3.0B$2.9B$3.0B$2.9B$3.1B$3.2B
Total assets$55.9B$57.2B$56.9B$57.6B$57.2B$59.0B
Total noncurrent assets$31.5B$31.5B$31.8B$31.7B$33.0B$33.0B