GENERAL DYNAMICS CORP（GD）の決算・業績分析
GENERAL DYNAMICS CORPの2025年有価証券報告書をAI分析。売上高$52.5B(+10.1%)。営業利益$5.4B。Industrials。
目次
GENERAL DYNAMICS CORPの2025年度 業績サマリー
GENERAL DYNAMICS CORP（証券コード: GD）の2025年度決算・業績分析。売上高は$52.5B（前年比+10.1%）。営業利益は$5.4B（前年比+11.7%）。純利益は$4.2B（前年比+11.3%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
GENERAL DYNAMICS CORPの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue increased 2.4% YoY to $39.4B (XBRL), driven by stable defense spending.
- Net income rose 4.1% YoY to $3.4B (XBRL), outpacing operating income growth of 1.2%.
- ROE of 19.2% (XBRL) reflects strong equity returns despite a 34.2% equity ratio (XBRL).
- Free cash flow of $3.5B (XBRL) supports $1.4B in dividends and $1.2B in share repurchases.
GENERAL DYNAMICS CORPの売上高変化の要因
- •Revenue grew 2.4% YoY to $39.4B (XBRL), with a 5-year CAGR of 3.2% (XBRL). However, operating income and net income CAGRs declined by -0.7% and -0.2% respectively (XBRL). Historical data shows revenue peaked at $39.4B in FY2021, then dipped to $37.9B in FY2022 before recovering to $39.4B in FY2024 (XBRL). The company's revenue model relies on U.S. government contracts (70% of revenue) (10-K), with no significant customer concentration (10-K).
GENERAL DYNAMICS CORPの営業利益変化の要因
- •Operating margin of 10.7% (XBRL) and net margin of 8.6% (XBRL) reflect efficient cost management. Operating income grew 1.2% YoY to $4.2B (XBRL), while net income rose 4.1% YoY to $3.4B (XBRL). EBITDA of $5.1B (12.9% margin) (XBRL) indicates strong pre-interest profitability. However, 5-year CAGR trends show flat operating income and declining net income (XBRL).
GENERAL DYNAMICS CORPの事業リスクと対応
Revenue concentration with U.S. government (70% of revenue) exposes GD to defense spending volatility (10-K).
U.S. government budget delays or disruptions could impact program funding (10-K).
Government contracts may be terminated for convenience, affecting revenue (10-K).
Regulatory audits and compliance risks could lead to penalties or reputational harm (10-K).
Declining 5-year CAGR for operating income (-0.7%) and net income (-0.2%) (XBRL).
GENERAL DYNAMICS CORPの事業内容
General Dynamics Corp (GD) is a global aerospace and defense company generating revenue through high-end design, engineering, and manufacturing of products and services in business aviation, ship construction, land combat systems, and technology solutions (10-K). Key segments include Aerospace (business jets, aircraft repair), Marine Systems (shipbuilding), Combat Systems (land vehicles, weapons), and Technologies (technology services). Competitive advantages include leadership in business aviation, advanced technologies like the Symmetry Flight Deck, and a global support network (10-K).
GENERAL DYNAMICS CORPのAI業績分析レポート（2024年度）
General Dynamics Corp (GD) FY2024 Annual Report Analysis
Highlights
Business Overview
General Dynamics Corp (GD) is a global aerospace and defense company generating revenue through high-end design, engineering, and manufacturing of products and services in business aviation, ship construction, land combat systems, and technology solutions (10-K). Key segments include Aerospace (business jets, aircraft repair), Marine Systems (shipbuilding), Combat Systems (land vehicles, weapons), and Technologies (technology services). Competitive advantages include leadership in business aviation, advanced technologies like the Symmetry Flight Deck, and a global support network (10-K).
Revenue Analysis
Revenue grew 2.4% YoY to $39.4B (XBRL), with a 5-year CAGR of 3.2% (XBRL). However, operating income and net income CAGRs declined by -0.7% and -0.2% respectively (XBRL). Historical data shows revenue peaked at $39.4B in FY2021, then dipped to $37.9B in FY2022 before recovering to $39.4B in FY2024 (XBRL). The company's revenue model relies on U.S. government contracts (70% of revenue) (10-K), with no significant customer concentration (10-K).
Profitability Analysis
Operating margin of 10.7% (XBRL) and net margin of 8.6% (XBRL) reflect efficient cost management. Operating income grew 1.2% YoY to $4.2B (XBRL), while net income rose 4.1% YoY to $3.4B (XBRL). EBITDA of $5.1B (12.9% margin) (XBRL) indicates strong pre-interest profitability. However, 5-year CAGR trends show flat operating income and declining net income (XBRL).
Balance Sheet Analysis
Equity ratio of 34.2% (XBRL) and current ratio of 1.44x (XBRL) suggest moderate leverage and liquidity. Total assets grew to $51.6B (XBRL), with total equity increasing to $17.6B (XBRL). Net debt of $6.8B (1.3x EBITDA) (XBRL) and long-term debt of $8.8B (XBRL) highlight capital structure risks. Cash reserves of $1.9B (XBRL) provide liquidity buffers.
Cash Flow Analysis
Operating cash flow of $4.6B (XBRL) supported $3.5B in free cash flow (FCF) after $1.1B in CapEx (XBRL). Dividends paid $1.4B (XBRL) and share repurchases of $1.2B (XBRL) totaled $2.6B in shareholder returns (XBRL). CapEx intensity of 2.8% (XBRL) and CapEx/D&A ratio of 1.26x (XBRL) indicate moderate investment in growth.
Working Capital Analysis
Cash conversion cycle (CCC) of 79 days (XBRL) reflects 28 days receivables, 80 days inventory, and 29 days payables (XBRL). Asset turnover of 0.76x (XBRL) suggests room for operational efficiency improvements.
Risks
Outlook
N/A. The 10-K does not provide specific management guidance or forward-looking trends for FY2025.
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