Income StatementBalance SheetCash FlowSegments
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General Dynamics Business Segments

Business, geographic, and product segment breakdowns

General Dynamics generates $53.8B in annual revenue across 4 key segments: Aerospace ($13.4B), Combat Systems ($9.4B), Marine Systems ($17.5B), and Technologies ($13.6B). The company-wide operating margin is 10.24%. Based on the Q1 2026 filing.

Aerospace (TTM)$13.4BCombat Systems (TTM)$9.4BMarine Systems (TTM)$17.5BTechnologies (TTM)$13.6B
Latest FilingQ1 2026
Report Date2026-04-29
Market Cap$92.7B
P/E Ratio21.36
ROE17.97%

Products & Services

Cost of Goods and Services Sold

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Product$7.3B$6.1B$6.8B$6.8B$8.2B$6.9B
Service$4.0B$4.2B$4.3B$4.2B$4.0B$4.4B

Total Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Product$8.6B$7.3B$8.0B$8.0B$9.7B$8.3B
Service$4.8B$4.9B$5.0B$4.9B$4.7B$5.2B

Geographic

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Africa Middle East$420.0M$503.8M$503.8M$503.8M$503.8M—
Asia Pacific$386.5M$500.3M$500.3M$500.3M$500.3M—
Europe$790.3M$885.0M$885.0M$885.0M$885.0M—
North America$10.3B$11.1B$11.1B$11.1B$11.1B—
Other North America$319.5M$312.0M$312.0M$312.0M$312.0M—
South America$73.0M$108.0M$108.0M$108.0M$108.0M—

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
International Operations$183.0M$226.0M$226.0M$226.0M$226.0M—

Business Segments

Acquisitions

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Technologies$2.0M$13.0M——$85.0M-$4.0M
Aerospace—$0.0$0.0$20.0M—$0.0
Combat Systems—$1.0M———$0.0
Marine Systems—$0.0$0.0$0.0—$0.0

Total Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Technologies$19.3B$19.3B$19.4B$19.2B$19.3B$19.5B
Aerospace$16.2B$16.8B$16.6B$16.7B$16.8B$16.8B
Combat Systems$10.3B$10.1B$11.6B$11.3B$10.1B$10.4B
Marine Systems$7.0B$7.3B$6.5B$6.7B$7.3B$7.6B

Capital Expenditures

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Marine Systems$157.0M$87.0M$112.0M$96.0M$222.0M$103.0M
Aerospace$73.0M$25.0M$38.0M$43.0M$230.0M$48.0M
Technologies$58.0M$14.0M$27.0M$38.0M$81.0M$28.0M
Combat Systems$66.0M$16.0M$18.0M$35.0M$75.0M$24.0M

Depreciation and Amortization

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Marine Systems$67.0M$66.0M$64.0M$64.0M$76.0M$72.0M
Technologies$74.0M$68.0M$68.0M$69.0M$71.0M$65.0M
Aerospace$64.0M$58.0M$61.0M$63.0M$72.0M$64.0M
Combat Systems$32.0M$28.0M$27.0M$27.0M$30.0M$28.0M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Technologies$14.4B$14.4B$14.4B$14.4B$14.5B$14.5B
Aerospace$3.1B$3.1B$3.3B$3.3B$3.4B$3.3B
Combat Systems$2.8B$2.8B$2.8B$2.8B$2.8B$2.8B
Marine Systems$297.0M$297.0M$297.0M$297.0M$297.0M$297.0M

Operating Earnings

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aerospace$585.0M$432.0M$403.0M$430.0M$481.0M$493.0M
Technologies$319.0M$328.0M$332.0M$327.0M$290.0M$339.0M
Marine Systems$200.0M$250.0M$291.0M$291.0M$345.0M$316.0M
Combat Systems$356.0M$291.0M$324.0M$335.0M$381.0M$310.0M

Other

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aerospace-$117.0M$36.0M$193.0M$0.0$30.0M-$26.0M
Combat Systems-$71.0M$13.0M$52.0M—$18.0M-$19.0M
Technologies-$17.0M$4.0M$14.0M—$4.0M-$4.0M
Marine Systems$0.0$0.0$0.0$0.0$0.0$0.0

Other Segment Items

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Marine Systems-$3.8B-$3.3B-$3.9B-$3.8B-$4.5B-$4.0B
Technologies-$2.9B-$3.1B-$3.1B-$3.0B-$2.9B-$3.2B
Aerospace-$3.2B-$2.6B-$2.7B-$2.8B-$3.3B-$2.8B
Combat Systems-$2.0B-$1.9B-$2.0B-$1.9B-$2.2B-$2.0B

Total Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Marine Systems$4.0B$3.6B$4.2B$4.1B$4.8B$4.3B
Technologies$3.2B$3.4B$3.5B$3.3B$3.2B$3.6B
Aerospace$3.7B$3.0B$3.1B$3.2B$3.8B$3.3B
Combat Systems$2.4B$2.2B$2.3B$2.3B$2.5B$2.3B

Number of businesses acquired

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Combat Systems0.250.500.500.500.50—
Technologies0.500.500.500.500.50—

Unbilled receivables

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Combat Systems$1.2B$1.3B$1.4B$1.3B$1.3B$1.3B

Unbilled revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Combat Systems$1.2B———$1.3B—

Accumulated impairment losses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Technologies$1.8B$1.8B$1.8B$1.8B$1.8B$1.8B