Stock Analysis on Net
Stock Analysis on Net

General Dynamics Corp. (NYSE:GD)

This company has been moved to the archive! The financial data has not been updated since October 28, 2020.

Common-Size Balance Sheet: Assets 
Quarterly Data

General Dynamics Corp., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 31, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Oct 4, 2015 Jul 5, 2015 Apr 5, 2015
Cash and equivalents 2.92 4.58 9.92 1.85 2.00 1.46 1.42 2.12 2.15 3.95 11.64 8.51 7.80 5.49 6.53 7.10 7.05 5.98 6.02 8.70 10.22 11.98 12.83
Accounts receivable 7.69 7.00 6.60 7.26 7.15 7.64 7.83 8.28 7.96 8.22 10.13 10.32 9.71 10.92 10.49 10.99 10.72 11.14 11.53 10.77 11.51 10.68 10.65
Unbilled receivables 16.20 15.36 14.78 16.09 16.56 15.71 15.52 14.48 16.11 15.11 15.76 14.95 16.07 14.93 13.72 16.07 15.96 15.73 14.84 13.62 12.78 12.70 12.92
Inventories 12.74 13.27 12.76 12.91 13.47 13.48 13.03 13.16 13.30 12.49 14.89 15.13 16.56 17.28 17.53 10.72 11.19 11.08 11.05 10.52 9.82 9.98 9.88
Other current assets 1.97 1.87 2.00 2.40 2.13 2.39 1.95 2.01 2.98 2.28 2.57 3.38 1.65 2.06 1.76 2.12 1.90 1.36 1.32 1.93 2.02 1.53 1.27
Current assets 41.52% 42.08% 46.06% 40.50% 41.30% 40.68% 39.75% 40.06% 42.50% 42.05% 54.98% 52.30% 51.78% 50.68% 50.03% 46.99% 46.83% 45.28% 44.75% 45.54% 46.36% 46.87% 47.56%
Property, plant and equipment, net 9.68 9.40 8.45 9.16 8.64 8.51 8.54 9.58 9.04 8.86 9.49 10.04 9.91 10.13 10.27 10.55 10.55 10.83 10.97 10.83 10.22 9.89 9.66
Intangible assets, net 4.30 4.37 4.21 4.74 4.87 5.11 5.30 5.69 5.68 5.81 1.89 2.00 2.05 2.03 2.04 2.06 2.19 2.31 2.39 2.38 2.43 2.50 2.60
Goodwill 39.57 39.26 36.59 40.29 40.21 40.90 41.44 43.15 41.49 41.86 32.12 34.00 34.14 34.56 34.72 34.82 35.45 36.43 36.57 35.76 34.97 34.60 34.02
Other assets 4.93 4.88 4.69 5.31 4.97 4.80 4.97 1.52 1.29 1.42 1.52 1.67 2.12 2.60 2.93 5.58 4.99 5.16 5.31 5.48 6.03 6.14 6.16
Noncurrent assets 58.48% 57.92% 53.94% 59.50% 58.70% 59.32% 60.25% 59.94% 57.50% 57.95% 45.02% 47.70% 48.22% 49.32% 49.97% 53.01% 53.17% 54.72% 55.25% 54.46% 53.64% 53.13% 52.44%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-10-01), 10-Q (reporting date: 2017-07-02), 10-Q (reporting date: 2017-04-02), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-10-02), 10-Q (reporting date: 2016-07-03), 10-Q (reporting date: 2016-04-03), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-10-04), 10-Q (reporting date: 2015-07-05), 10-Q (reporting date: 2015-04-05).

Cash and Equivalents
The proportion of cash and equivalents as a percentage of total assets shows a general declining trend from around 12.83% in early 2015 to lows near 1.42% to 2% in 2019. There is a notable short-term increase towards the end of 2019 and early 2020, with values rising again to about 9.92% before subsequently declining. This indicates fluctuations in liquidity management with periods of tightening and replenishment of cash reserves.
Accounts Receivable
Accounts receivable remained relatively stable as a percentage of total assets, fluctuating mostly between approximately 6.6% and 11.5% over the period. There is a subtle decline starting late 2017 through 2020, possibly reflecting more efficient collection or changes in revenue recognition or client credit terms.
Unbilled Receivables
Unbilled receivables maintained a generally upward trajectory, beginning near 13% in 2015 and increasing to a peak of about 16.56% in late 2019, with slight variability afterward. This suggests an increasing volume of work performed but not yet billed, potentially indicating an expanding backlog or changes in contract structures.
Inventories
Inventory as a percentage of total assets presents significant variation. It increased sharply from about 10% in 2015 to peaks above 17% throughout 2017, followed by a steady decline to roughly 12.7% by late 2020. This pattern may suggest initial inventory buildup and later optimization or reduction efforts.
Other Current Assets
These assets show moderate fluctuation without a distinct long-term trend, generally ranging between 1.2% and 3.4%. Peaks in early 2018 imply occasional increases, while other periods display stability or slight decreases.
Current Assets Overall
Current assets as a portion of total assets mostly declined from around 47.5% in early 2015 to lows near 40%-42% towards mid-2019. An increase is observed again approaching mid-2020, reflecting a dynamic balance between liquid and near-liquid asset holdings relative to the asset base.
Property, Plant, and Equipment (Net)
This asset category remains fairly constant, fluctuating narrowly between 8.5% and just under 11% over the entire period. Minor declines generally appear in 2018 and 2019, with a modest rebound in 2020, suggesting stable investment in fixed assets without major expansions or divestitures.
Intangible Assets (Net)
Intangible assets held steady near 2.3% to 2.6% from 2015 through early 2017, then experienced a notable spike to around 5.7% to 5.8% during 2018, with gradual declines afterward reaching approximately 4.3% by late 2020. This pattern may relate to acquisitions or capitalization of development costs with subsequent amortization.
Goodwill
Goodwill consistently constitutes the largest single component of total assets, fluctuating between about 32% and 44%. Peaks in 2018 through early 2019 correspond to increased goodwill levels, possibly from acquisitions, followed by gradual declines into 2020, indicative of impairment charges or sale of goodwill-containing assets.
Other Assets
Other assets percentage decreased significantly from over 6% in 2015 to lows near 1.3%-1.5% in 2017 and early 2018, before rising gradually back to around 5% by 2020. This suggests a shifting composition or timing of items classified in this category, such as deferred costs or miscellaneous balances.
Noncurrent Assets Overall
The share of noncurrent assets remained above 50% throughout, starting near 52.4% and rising to almost 60% by 2019, before slightly decreasing again. This trend reflects a consistently asset-heavy structure with a long-term focus, intensified in recent years.
Total Assets
The dataset normalizes all categories to 100% of total assets, providing a proportional view of asset composition changes over time rather than absolute values.