General Dynamics Corporation (GD)

Return on total capital

Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Earnings before interest and tax (EBIT) US$ in thousands 5,417,000 4,933,000 4,245,000 4,427,000 4,304,000
Long-term debt US$ in thousands — — — — —
Total stockholders’ equity US$ in thousands 25,622,000 22,063,000 21,299,000 18,568,000 17,641,000
Return on total capital 21.14% 22.36% 19.93% 23.84% 24.40%

December 31, 2025 calculation

Return on total capital = EBIT ÷ (Long-term debt + Total stockholders’ equity)
= $5,417,000K ÷ ($—K + $25,622,000K)
= 21.14%