General Dynamics has recorded fourth-quarter net earnings of $1.1 billion and a revenue of $14.38 billion, with full fiscal year 2025 net earnings of $4.2 billion, an 11.3 percent year-over-year increase, and revenue of $52.55 billion, a 10.1 percent growth compared to fiscal 2024.
Phebe N. Novakovic, the company’s chairperson and CEO and a nine-time Wash100 recipient, said in a statement Wednesday that the company also saw a 30 percent growth in company-wide backlog.
“As we focus on execution of programs for our customers, we are also preparing aggressively for future growth, investing nearly $1.2 billion in capital expenditures in 2025 — with even more investments planned in the year ahead,” she added.
How Did General Dynamics’ Aerospace and Combat Systems Segments Perform in FY 25?
According to Novakovic, all four of the company’s segments saw revenue growth and earnings in Q4 and the whole fiscal year.
General Dynamics’ aerospace business logged in $3.788 billion and earnings of $481 million in the quarter ending on Dec. 31. For the full fiscal year, the segment generated revenue of $13.1 billion and earnings of $1.75 billion.
During the company’s recent financial results conference call, Novakovic shared that Gulfstream aircraft and service business continues to see strong demand, while Jet Aviation had an improved performance in the quarter.
The segment’s book-to-bill “was a strong quarter bordering on exceptional,” according to the CEO. Gulfstream alone had an aircraft book-to-bill of 1.4 times in the quarter. For the entire segment, the Q4 book-to-bill is 1.3 times.
Meanwhile, the combat systems segment reported Q4 revenue of $2.5 billion and earnings of $381 million. Its full-year revenue is $9.2 billion and its earnings is $1.33 billion.
Novakovic revealed that order intake was strong across its combat systems portfolio, with awards in munitions and wheel and tracked vehicle programs at European Land. The book-to-bill of the segment for the full year is 2.1 times.
How Did General Dynamics’ Marine and Technologies Segments Perform in FY 25?
The marine segment saw revenue of $4.8 billion and earnings of $345 million in Q4. Its full-year revenue is $16.7 billion, while earnings are $1.18 billion.
Novakovic told investors that Electric Boat’s investments in the past year have led to increased output, with submarine tonnage produced up by 13 percent compared to the year prior.
Finally, the technologies segment’s Q4 revenue was $3.24 billion, with $290 million in earnings. The full-year revenue for the segment is $13.5 billion, with earnings of $1.28 billion.
Danny Deep, president of General Dynamics, shared during the conference call that the segment recorded total orders of $15.9 billion and a book-to-bill of 0.92 times for Q4 and 1.2 times for the year.
