Income StatementBalance SheetCash FlowSegments
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General Dynamics Cash Flow Statement

Operating, investing, and financing cash movements

General Dynamics generated $7.4B in operating cash flow over the trailing twelve months. After $1.2B in capital expenditures, free cash flow was $6.2B. Free cash flow increased 0.9% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$7.4BNet Cash From Investing (TTM)-$1.4BNet Cash From Financing (TTM)-$3.6BCapital Expenditures (TTM)$1.2BNet Change In Cash (TTM)-$1.0B
Latest FilingQ1 2026
Report Date2026-04-29
Market Cap$92.7B
P/E Ratio21.36
ROE17.97%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures$355.0M$142.0M$198.0M$212.0M$609.0M$203.0M
Payment for (Proceeds from) Other Investing Activity$10.0M-$12.0M-$112.0M-$6.0M$253.0M-$1.0M
Net cash from investing activities-$365.0M-$130.0M-$86.0M-$206.0M-$862.0M-$202.0M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in accounts payable$54.0M$13.0M-$274.0M$380.0M-$783.0M$165.0M
Change in accounts receivable-$188.0M$317.0M$295.0M-$298.0M-$870.0M-$152.0M
Change in deferred revenue—$13.0M$93.0M-$61.0M-$49.0M$764.0M
Change in inventories—$92.0M$115.0M-$76.0M-$581.0M-$55.0M
Other working capital changes—$78.0M-$257.0M-$40.0M$877.0M$8.0M
Deferred income taxes—-$59.0M-$39.0M$249.0M$105.0M$286.0M
Net cash from operating activities$2.2B-$148.0M$1.6B$2.1B$1.6B$2.2B
Net income$1.1B$994.0M$1.0B$1.1B$1.1B$1.1B
Amortization of intangible and finance lease right-of-use assets—$61.0M$60.0M$61.0M—$59.0M
Depreciation$175.0M$162.0M$163.0M$165.0M$190.0M$173.0M
Increase (Decrease) in Contract with Customer, Asset—$879.0M—$215.0M—$656.0M
Stock-based compensation$46.0M$34.0M$55.0M$57.0M$50.0M$40.0M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Repayments of debt$500.0M$750.0M$750.0M——$0.0
Dividends paid$389.0M$383.0M$402.0M$403.0M$405.0M$405.0M
Other, net$11.0M-$32.0M$71.0M$196.0M-$442.0M-$7.0M
Proceeds from (repayments of) short-term borrowings, net—$1.6B———$0.0
Payment of Deferred Purchase Consideration$11.0M-$32.0M$71.0M$196.0M-$442.0M-$7.0M
Noncontrolling interest transactions and other$11.0M-$32.0M$71.0M$196.0M-$442.0M-$7.0M
Net cash from financing activities-$2.2B-$175.0M-$1.2B-$903.0M-$884.0M-$629.0M
Noncontrolling Interests Activity and Other$11.0M-$32.0M$71.0M$196.0M-$442.0M-$7.0M
Repurchases of common stock$1.3B$600.0M——$37.0M$217.0M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$1.8B-$290.0M$1.4B$1.9B$952.0M$2.0B

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest paid—$42.0M$161.0M$35.0M—$93.0M
Income Taxes Paid, Net—$34.0M$202.0M$27.0M—$18.0M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net increase (decrease) in cash-$404.0M-$455.0M—$997.0M—$1.3B
Net Cash Provided By Used In Discontinued Operations-$3.0M-$2.0M-$3.0M-$3.0M-$2.0M-$3.0M