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General Dynamics cash flow statement

In fiscal 2025, General Dynamics's operations generated $5.12bn of cash; it spent $1.16bn on capital projects, leaving free cash flow of $3.96bn. It returned $1.59bn in dividends and $637m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMOct 2026
Cash from operations2,8552,9863,2382,6063,1113,7282,4992,1633,8763,1482,9813,8584,2714,5794,7104,1125,1207,306
Depreciation and amortisation562569592590525496481453441763829878890884863886924950
Stock-based pay1171181281141201289895123140133128126165181183196219
Capital spending3853704584364365215693924286909879678871,1149049161,1611,527
Free cash flow2,4702,6162,7802,1702,6753,2071,9301,7713,4482,4581,9942,8913,3843,4653,8063,1963,9595,779
Free cash flow after stock pay2,3532,4982,6522,0562,5553,0791,8321,6763,3252,3181,8612,7633,2583,3003,6253,0133,7635,560
Dividends paid5776316738935918228739119861,0751,1521,2401,3151,3691,4281,5291,5931,668
Share buybacks2091,1851,4686027403,3823,2331,9961,5581,7692315871,8281,2294341,501637641

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from General Dynamics's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to General Dynamics.