General Dynamics vs Space Exploration Technologies
General Dynamics is the larger business, with $52.55bn of revenue in fiscal 2025 against $18.67bn for Space Exploration Technologies (2.8 times as much). Space Exploration Technologies grew faster (33.2% against 10.1%). General Dynamics kept more of each dollar of sales as profit: a net margin of 8.0% against -26.4%.
| Latest fiscal year | General DynamicsGD, 2025 | Space Exploration TechnologiesSPCX, 2025 |
|---|---|---|
| Revenue | $52.55bn | $18.67bn |
| Revenue growth | 10.1% | 33.2% |
| Net income | $4.21bn | −$4.94bn |
| Operating margin | — | -13.9% |
| Net margin | 8.0% | -26.4% |
| Return on equity | 17.7% | -132.8% |
| Free cash flow | $3.96bn | −$13.95bn |
| Cash | $2.33bn | $24.75bn |
| Total debt | $8.07bn | $22.90bn |
| Debt to equity | — | 889.9% |
| Dividend per share | — | — |
| Dividend yield | 1.6% | — |
| Share buybacks | $637m | — |
| Employees | 40,000 | — |
| Market value | $102.13bn | $1.75tn |
| Price vs our value range | Within our value range | — |
| Moat score | 60 (Moderate) | — |
| Insider trades, 12 months | 0 buys, 27 sales | 0 buys, 6 sales |