General Dynamics Corporation (GD)
Debt-to-capital ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 8,754,000 | 9,248,000 | 9,247,000 | 9,245,000 | 9,243,000 | 9,239,000 | 9,741,000 | 10,491,000 | 10,490,000 | 11,485,000 | 11,485,000 | 9,995,000 | 9,995,000 | 9,978,000 | 10,470,000 | 12,951,000 | 9,010,000 | 8,989,000 | 8,975,000 | 11,451,000 |
| Total stockholders’ equity | US$ in thousands | 21,299,000 | 19,957,000 | 19,478,000 | 19,087,000 | 18,568,000 | 17,651,000 | 17,381,000 | 18,014,000 | 17,641,000 | 15,721,000 | 15,321,000 | 15,340,000 | 15,661,000 | 15,140,000 | 14,306,000 | 13,609,000 | 13,978,000 | 13,513,000 | 12,877,000 | 12,234,000 |
| Debt-to-capital ratio | 0.29 | 0.32 | 0.32 | 0.33 | 0.33 | 0.34 | 0.36 | 0.37 | 0.37 | 0.42 | 0.43 | 0.39 | 0.39 | 0.40 | 0.42 | 0.49 | 0.39 | 0.40 | 0.41 | 0.48 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $8,754,000K ÷ ($8,754,000K + $21,299,000K)
= 0.29
The debt-to-capital ratio of General Dynamics Corp. has been consistently declining over the past eight quarters, indicating an improvement in the company's capital structure and reduced reliance on debt financing.
In Q4 2023, the debt-to-capital ratio stood at 0.30, which is lower compared to the previous quarter's ratio of 0.32. This trend suggests that General Dynamics has been effectively managing its debt levels relative to its total capital.
Furthermore, the decreasing trend in the debt-to-capital ratio from Q4 2022 (0.36) to Q4 2023 (0.30) indicates that the company may be gradually reducing its debt burden and strengthening its financial position.
Overall, the consistent decline in the debt-to-capital ratio reflects a positive trajectory for General Dynamics in terms of its leverage and financial health.
Peer comparison
Dec 31, 2023
See also:
General Dynamics Corporation Debt to Capital (Quarterly Data)