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General Dynamics (GD) Q3 2025 earnings results (third quarter 2025)

10-Q filed Oct 24, 2025

General Dynamics (GD) reported revenue of $12.9B for the third quarter 2025 (Q3 2025), +11% from a year earlier and -1% from the quarter before. Operating margin was 10.3%, net earnings $1.1B (8.2% of revenue).

Revenue$12.9B
Year over year+11%
Quarter over quarter-1%
Operating margin10.3%
Net earnings$1.1B

General Dynamics, Q3 2025: revenue $12.9B (+11% year over year), operating margin 10.3%, net earnings $1.1B, operating cash flow $2.1B. The chart follows the revenue to costs, profit and cash.

Q3 2025AmountQ/QY/Y
Revenue$12.9B-1%+11%
Operating profit$1.3B+2%+13%
Net earnings$1.1B+4%+14%
Operating cash flow$2.1B+32%+49%
Free cash flow$1.9B—+56%

What changed

Revenue was $12.9B in Q3 2025, up 11% year over year and down 1% from the previous quarter. Marine Systems was the largest line at 32% of revenue. Aerospace added $0.75B year over year (up 30%), 61% of the total change. Technologies declined 2%.

Operating profit was $1.3B, a 10.3% margin (up 0.2 points year over year). Of the extra revenue versus a year earlier, 12% reached operating profit, above the 10% margin then. Total costs grew 10% against revenue growth of 11%. The fastest-growing cost line was Other operating costs (+11%). Net earnings were $1.1B, up 14% year over year. The effective tax rate was 16.7%.

Operating cash flow was $2.1B (up 49% year over year), 199% of net earnings. Non-cash charges added back $0.23B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items added $0.77B. After capital expenditures ($0.21B), free cash flow as the company reports it was $1.9B.

Questions

What was General Dynamics' revenue in the third quarter 2025?

General Dynamics (GD) reported revenue of $12.9B for the third quarter 2025 (Q3 2025), +11% from a year earlier and -1% from the quarter before.

Was General Dynamics profitable in the third quarter 2025?

Operating profit was $1.3B (10.3% of revenue) and net earnings $1.1B.

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Source: General Dynamics 10-Q on SEC EDGAR.