How does General Dynamics (GD) make money?

General Dynamics (GD) generates revenue primarily from Marine Systems, which accounted for 32.7% of total revenue in TTM through Q3 2026. The company reported $54.9B in revenue and converted 8.2% of it into net profit, equivalent to roughly $4.49B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of General Dynamics (GD)?

General Dynamics (GD) reported a gross profit margin of 15.4% in TTM through Q3 2026, equivalent to $8.44B in gross profit on $54.9B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of General Dynamics (GD)?

General Dynamics (GD) reported an operating profit margin of 10.3% in TTM through Q3 2026, equivalent to $5.66B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of General Dynamics (GD)?

General Dynamics (GD) reported a net profit margin of 8.2% in TTM through Q3 2026, equivalent to $4.49B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is General Dynamics (GD) profitable?

Yes. General Dynamics (GD) reported $4.49B in net income for TTM through Q3 2026, with a net profit margin of 8.2%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does General Dynamics (GD) invest in research and development?

General Dynamics (GD) invested $486M in research and development during TTM through Q3 2026, roughly 0.9% of total revenue. R&D spending funds the company's future product pipeline and is expensed in full on the income statement rather than capitalised, which makes the operating margin sensitive to how aggressively management chooses to reinvest in innovation.

How much does General Dynamics (GD) spend on capital expenditures?

General Dynamics (GD) spent $1.26B on capital expenditures (CapEx) during TTM through Q3 2026, roughly 2.3% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does General Dynamics (GD) generate?

General Dynamics (GD) generated $6.45B in free cash flow during TTM through Q3 2026, a free-cash-flow margin of 11.8%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of General Dynamics (GD)?

General Dynamics (GD) had an effective tax rate of 17.6% in TTM through Q3 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of General Dynamics (GD)?

General Dynamics (GD) reports revenue across 4 reportable product segments, led by Marine Systems at 32.7% of total revenue in TTM through Q3 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How General Dynamics Makes Money: 2026 Visual Revenue Map

General Dynamics (GD) Income Statement Flow — TTM through Q3 2026

Calculated from the four most recent reported quarters, ending July 5, 2026 (reported July 29, 2026).

General Dynamics discloses geographic revenue only in annual filings. to view the full breakdown.

General Dynamics (GD) Revenue by Product Segment — TTM through Q3 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for General Dynamics (GD), TTM through Q3 2026.
Segment	Revenue (USD)	% of total
Marine Systems	$17.9B	32.7%
Aerospace	$13.8B	25.2%
Technologies	$13.8B	25.1%
Combat Systems	$9.36B	17.1%
Total	$54.9B	100%

Marine Systems$17.9B
Aerospace$13.8B
Technologies$13.8B
Combat Systems$9.36B
Total$54.9B

Revenue Breakdown — TTM through Q3 2026

In TTM through Q3 2026, General Dynamics (GD) reports revenue across 4 reportable product segments; the largest segment was Marine Systems at 32.7%, followed by Aerospace (25.2%) and Technologies (25.1%).

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