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General Dynamics GD Workers’ compensation

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Other financials

Income statement

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Revenue$14.1B+8.1%
Operating income$1.5B+11.9%
Net income$1.2B+14.4%
EPS (diluted)$4.24+13.4%

Balance sheet

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Cash & equivalents$4.3B+185%
Total debt$10.8B+1.0%
Total equity$26.8B+13.8%
Total assets$60.2B+5.8%

Cash flow

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Operating cash flow$1.9B+17.6%
CapEx$234.0M+18.2%
Free cash flow$1.6B+17.6%

Valuation

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Market cap$107.13B+26.5%
Enterprise value$113.59B+21.0%
P/E23.9×+3.1×
P/S+0.3×

Profitability

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Gross margin17.9%
Operating margin10.3%0.0pp
Net margin8.2%+0.1pp
FCF margin11.8%+3.5pp

Returns & leverage

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Return on equity17.8%-0.1pp
Debt / equity0.4×-0.1×
Current ratio1.4×+0.1×

Where this comes from

Reported directly by General Dynamics in its filing.

Tagged under the XBRL concept gd:DeferredTaxAssetsTaxDeferredExpenseWorkersCompensation.

The source filing: General Dynamics’s 10-K, filed January 30, 2026.

Filed
Jan 30, 2026, 1:14 PM EST
Fiscal year
FY2025
Accession
0000040533-26-000006
December 3120252024
Lease liabilities412441
Tax loss and credit carryforwards384185
Salaries and wages215223
Workers’ compensation160153
Retirement benefits115251
Other385383
Deferred assets2,1712,604
Valuation allowances(158)(169)

Item 7A. Quantitative and Qualitative Disclosures

FAQ

What is General Dynamics's workers’ compensation?
General Dynamics (GD) reported workers’ compensation of $160M in Q4 2025.
How has General Dynamics's workers’ compensation changed year-over-year?
General Dynamics's workers’ compensation increased by 4.6% year-over-year, from $153M to $160M.
What is the long-term trend for General Dynamics's workers’ compensation?
Over 5 years (2020 to 2025), General Dynamics's workers’ compensation has grown at a -0.9% compound annual growth rate (CAGR), from $167M to $160M.
What does workers’ compensation mean?
This represents the deferred tax asset arising from the timing difference between the accrual of workers' compensation expenses and their actual tax deductibility. It reflects the tax benefit expected to be realized when these costs are paid and become deductible. This metric helps in reconciling accounting profit with taxable income regarding employee safety and liability costs.

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