--- title: General Dynamics (GD) — intrinsic value and fair price canonical: https://sweetvaluelab.com/stocks/gd ticker: GD as_of: 2026-10-17 sector: Industrials industry: Aerospace & Defense --- # General Dynamics (GD) General Dynamics (GD) closed at $344.23 on Oct 16, 2026, undervalued by 12% vs its model value of $391.69 (from a five-year discounted cash flow). ## Key figures | Figure | Value | | --- | ---: | | Last close | $344.23 (Oct 16, 2026) | | Model value (from a five-year discounted cash flow) | $391.69 | | Price vs model | undervalued by 12% vs model | | Range of that model | $227.67 – $1,006.61 | | Market value | $93.1B | | P/E (fiscal 2025) | 22.3 | | Net margin (fiscal 2025) | 8.0% | | Free cash flow (fiscal 2025) | $4.0B | | Dividend yield (trailing twelve months) | 1.82% | | Beta | 0.33 | | Cost of capital (WACC) | 7.12% | | Business classification | Mature & Stable (Moderate growth (~11% recent), Moderate margins (8% net margin), Pays dividends, Highly cyclical earnings) | ## On the stock lists | List | Place | Figure | Page | | --- | ---: | ---: | --- | | Dividend growth streaks | #32 | 34 years | https://sweetvaluelab.com/lists/dividend-growth-streaks | ## Dividends | Figure | Value | | --- | ---: | | Trailing dividend yield | 1.82% | | Dividends per share, last 12 months | $6.27 | | Dividends / free cash flow (fiscal 2025) | 40.2% | | Raised | 34 years in a row | | Growth over 5 years | 6.1% a year | | Latest payment | $1.59, ex-date Oct 9, 2026, paid Nov 13, 2026 | | Year of payments | Dividends per share | | --- | ---: | | To Oct 7, 2021 | $4.67 | | To Oct 6, 2022 | $4.97 | | To Oct 5, 2023 | $5.22 | | To Oct 11, 2024 | $5.58 | | To Oct 10, 2025 | $5.92 | | Trailing twelve months (to Oct 9, 2026) | $6.27 | ## Valuation models Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026. | Model | Role | Value per share | Low | High | | --- | --- | ---: | ---: | ---: | | DCF · Perpetuity growth · 5y | primary | $391.69 | $227.67 | $1,006.61 | | DCF · Perpetuity growth · 10y | cross check | $399.99 | $240.58 | $1,004.33 | | DCF · EBITDA exit · 5y | cross check | $430.47 | $314.33 | $567.17 | | DCF · EBITDA exit · 10y | cross check | $431.89 | $306.41 | $598.72 | | P/E · peers | cross check | $354.31 | $312.12 | $539.82 | | P/E · own history | cross check | $342.30 | $308.87 | $380.67 | | PEG | sanity check | $154.69 | $154.69 | $154.69 | | EV/EBITDA · peers | cross check | $386.77 | $301.75 | $666.75 | | EV/Revenue · peers | cross check | $339.46 | $249.68 | $380.09 | | Earnings power value | cross check | $128.85 | $102.80 | $168.82 | | Dividend discount | cross check | $163.68 | $102.59 | $331.94 | ## Insider activity (SEC Form 4) Past 90 days: 0 open-market buys ($0) and 5 open-market sales ($3.4M); 10b5-1 plan sales included. | Date | Insider | Relationship | Transaction | Shares | Value | | --- | --- | --- | --- | ---: | ---: | | Sep 23, 2026 | STEEL ROBERT K | Director | Option/RSU exercise | 2,770 | $466,911.2 | | Sep 23, 2026 | STEEL ROBERT K | Director | Open-market sell | 2,770 | $958,644.4 | | Sep 23, 2026 | STEEL ROBERT K | Director | Option/RSU exercise | 2,190 | $510,051 | | Sep 23, 2026 | STEEL ROBERT K | Director | Open-market sell | 2,190 | $758,000.6 | | Sep 23, 2026 | STEEL ROBERT K | Director | Option/RSU exercise | 1,780 | $405,092.4 | ## Recent SEC filings | Filed | Form | What | Filing | | --- | --- | --- | --- | | Oct 8, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/40533/000119312526417188/d122892d8k.htm | | Aug 7, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/40533/000119312526340490/d129075d8k.htm | | Aug 4, 2026 | 8-K | 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/40533/000119312526332899/d122083d8k.htm | | Aug 4, 2026 | 424B5 | Prospectus supplement | https://www.sec.gov/Archives/edgar/data/40533/000119312526331222/d74149d424b5.htm | | Jul 30, 2026 | S-3ASR | Shelf registration (automatic) | https://www.sec.gov/Archives/edgar/data/40533/000119312526324503/d150080ds3asr.htm | ## Superinvestors holding it (latest 13F) | Manager | Quarter | Shares | Value | | --- | --- | ---: | ---: | | Thomas Gayner | 2026-06-30 | 391,000 | $138.5M | | Richard Pzena | 2026-06-30 | 108,574 | $38.5M | | Robert Olstein | 2026-03-31 | 20,500 | $7.0M | | Bridgewater | 2026-06-30 | 16,888 | $6.0M | 5 tracked managers in all. ## About General Dynamics Corporation is a global leader in the aerospace and defense industry, with its operations structured across four key divisions: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment focuses on the design, production, and sale of business jets, alongside offering a full suite of aviation services including aircraft maintenance, repair, management, charter services, and ground support. Marine Systems specializes in shipbuilding for the U.S. Navy, constructing nuclear-powered submarines, surface warships, and auxiliary vessels. This division also builds various commercial ships, such as tankers and cargo carriers. Furthermore, it provides extensive maintenance, modernization, and lifecycle support, along with engineering and design services for both naval and commercial fleets. Combat Systems is dedicated to creating land-based defense solutions… --- Source: https://sweetvaluelab.com/stocks/gd (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.