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Sep 28, 2025
General Dynamics Q3 2025 Earnings Report
General Dynamics reported strong growth across all segments in Q3 2025, led by Aerospace.
Key Takeaways
General Dynamics posted a solid Q3 2025, with revenue up 10.6% and EPS up 15.8% year-over-year, driven by strong performance in Aerospace and increased order activity across all segments.
Revenue reached $12.91 billion, up 10.6% YoY.
EPS grew to $3.88, a 15.8% increase.
Free cash flow hit $1.9 billion for the quarter.
Backlog expanded to $109.86 billion, with strong order intake and a book-to-bill ratio of 1.5x.
Revenue by Segment
Forward Guidance
While no formal forward guidance was issued, strong demand and backlog growth signal a positive outlook.
Positive Outlook
- Robust order activity across all segments.
- Aerospace continues to benefit from strong business jet demand.
- Backlog reached record levels, supporting future revenue.
- Cash flow generation remained strong with FCF of $1.9B.
- Book-to-bill ratio above 1.0 in all segments.
Challenges Ahead
- Technologies segment saw a small revenue decline.
- Marine Systems margin compressed slightly YoY.
- Corporate operating loss widened to $52M.
- Unfunded backlog grew faster than funded backlog.
- Free cash flow growth may face tougher comps next quarter.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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