Current Ratio
since 2005
Calculation
General Dynamics Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2019 | 1.18 | = | 19,780) | ÷ | 16,801) |
| Dec 31, 2018 | 1.23 | = | 18,189) | ÷ | 14,739) |
| Dec 31, 2017 | 1.40 | = | 18,328) | ÷ | 13,099) |
| Dec 31, 2016 | 1.20 | = | 15,447) | ÷ | 12,846) |
| Dec 31, 2015 | 1.17 | = | 14,571) | ÷ | 12,445) |
| Dec 31, 2014 | 1.27 | = | 17,407) | ÷ | 13,751) |
| Dec 31, 2013 | 1.47 | = | 17,886) | ÷ | 12,194) |
| Dec 31, 2012 | 1.35 | = | 15,744) | ÷ | 11,620) |
| Dec 31, 2011 | 1.38 | = | 15,368) | ÷ | 11,145) |
| Dec 31, 2010 | 1.27 | = | 14,186) | ÷ | 11,177) |
| Dec 31, 2009 | 1.28 | = | 13,249) | ÷ | 10,371) |
| Dec 31, 2008 | 1.15 | = | 11,950) | ÷ | 10,360) |
| Dec 31, 2007 | 1.34 | = | 12,298) | ÷ | 9,164) |
| Dec 31, 2006 | 1.26 | = | 9,880) | ÷ | 7,824) |
| Dec 31, 2005 | 1.33 | = | 9,173) | ÷ | 6,907) |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
General Dynamics maintained a current ratio above 1.0 throughout the period from 2005 to 2019, indicating a consistent capacity to meet short-term financial obligations. Although both current assets and current liabilities experienced substantial growth over these 15 years, the current ratio remained relatively stable, fluctuating within a narrow range between 1.15 and 1.47.
- Current Asset Trends
- Current assets exhibited a general upward trajectory, increasing from 9,173 million US dollars in 2005 to 19,780 million US dollars by 2019. A notable deviation occurred in 2015, when assets decreased to 14,571 million US dollars from 17,407 million US dollars in the previous year, before resuming a growth trend that peaked at the end of the observed period.
- Current Liability Trends
- Current liabilities rose from 6,907 million US dollars in 2005 to 16,801 million US dollars in 2019. While the growth was gradual for much of the decade, a more pronounced acceleration in liabilities was observed between 2017 and 2019, rising from 13,099 million US dollars to 16,801 million US dollars.
- Current Ratio Analysis
- The current ratio reached its maximum value of 1.47 in 2013. Periodic contractions in the ratio were observed in 2008 (1.15), 2015 (1.17), and 2019 (1.18). These dips correlate with periods where the growth of current liabilities outpaced the growth of current assets. Despite these fluctuations, the liquidity profile remained positive, ensuring that current assets consistently exceeded current liabilities.
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Comparison to Competitors
General Dynamics Corp., current ratio, long-term trends, comparison to competitors
| General Dynamics Corp. | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|---|---|---|
| Dec 31, 2019 | 1.18 | 1.05 | 1.47 | 1.70 | 1.16 | 1.34 | 1.22 | 1.08 |
| Dec 31, 2018 | 1.23 | 1.08 | 1.37 | 1.47 | — | 1.29 | 1.12 | 1.13 |
| Dec 31, 2017 | 1.40 | 1.16 | 1.35 | 1.64 | — | 1.38 | 1.38 | 1.35 |
| Dec 31, 2016 | 1.20 | 1.25 | 1.22 | 1.27 | — | 1.41 | 1.20 | 1.30 |
| Dec 31, 2015 | 1.17 | 1.35 | 1.31 | 1.43 | — | 1.09 | 1.15 | 1.18 |
| Dec 31, 2014 | 1.27 | 1.20 | 1.39 | 1.51 | — | 1.50 | 1.11 | 1.30 |
| Dec 31, 2013 | 1.47 | 1.26 | 1.40 | 1.78 | — | 1.49 | 1.20 | 1.29 |
| Dec 31, 2012 | 1.35 | 1.27 | 1.43 | 1.44 | — | 1.35 | 1.14 | 1.24 |
| Dec 31, 2011 | 1.38 | 1.21 | 1.33 | 1.60 | — | 1.31 | 1.16 | 1.38 |
| Dec 31, 2010 | 1.27 | 1.15 | 1.44 | 1.70 | — | 1.28 | 1.15 | 1.33 |
| Dec 31, 2009 | 1.28 | 1.07 | 1.39 | 1.68 | — | 1.25 | 1.17 | 1.29 |
| Dec 31, 2008 | 1.15 | 0.84 | 1.21 | 1.28 | — | 1.08 | 1.01 | 1.24 |
| Dec 31, 2007 | 1.34 | 0.86 | 1.15 | 1.30 | — | 1.15 | 1.11 | 1.26 |
| Dec 31, 2006 | 1.26 | 0.77 | 1.20 | 1.29 | — | 1.21 | 1.06 | 1.24 |
| Dec 31, 2005 | 1.33 | 0.78 | 1.19 | 1.21 | — | 1.15 | 1.12 | 1.12 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Capital Goods)
General Dynamics Corp., current ratio, long-term trends, comparison to sector (capital goods)
| General Dynamics Corp. | Capital Goods | |
|---|---|---|
| Dec 31, 2019 | 1.18 | 1.17 |
| Dec 31, 2018 | 1.23 | 1.17 |
| Dec 31, 2017 | 1.40 | 1.29 |
| Dec 31, 2016 | 1.20 | 1.27 |
| Dec 31, 2015 | 1.17 | 1.26 |
| Dec 31, 2014 | 1.27 | 1.29 |
| Dec 31, 2013 | 1.47 | 1.34 |
| Dec 31, 2012 | 1.35 | 1.31 |
| Dec 31, 2011 | 1.38 | 1.29 |
| Dec 31, 2010 | 1.27 | 1.28 |
| Dec 31, 2009 | 1.28 | 1.23 |
| Dec 31, 2008 | 1.15 | 1.07 |
| Dec 31, 2007 | 1.34 | 1.08 |
| Dec 31, 2006 | 1.26 | 1.05 |
| Dec 31, 2005 | 1.33 | 1.03 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Industrials)
General Dynamics Corp., current ratio, long-term trends, comparison to industry (industrials)
| General Dynamics Corp. | Industrials | |
|---|---|---|
| Dec 31, 2019 | 1.18 | 1.16 |
| Dec 31, 2018 | 1.23 | 1.13 |
| Dec 31, 2017 | 1.40 | 1.24 |
| Dec 31, 2016 | 1.20 | 1.22 |
| Dec 31, 2015 | 1.17 | 1.24 |
| Dec 31, 2014 | 1.27 | 1.26 |
| Dec 31, 2013 | 1.47 | 1.33 |
| Dec 31, 2012 | 1.35 | 1.30 |
| Dec 31, 2011 | 1.38 | 1.30 |
| Dec 31, 2010 | 1.27 | 1.28 |
| Dec 31, 2009 | 1.28 | 1.23 |
| Dec 31, 2008 | 1.15 | 1.06 |
| Dec 31, 2007 | 1.34 | 1.07 |
| Dec 31, 2006 | 1.26 | 1.05 |
| Dec 31, 2005 | 1.33 | 1.05 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).