Common Stock Valuation Ratios (Price Multiples) Quarterly Data

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Historical Valuation Ratios (Summary)

General Dynamics Corp., historical price multiples (quarterly data)

 
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 Dec 31, 2014 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014 Dec 31, 2013 Sep 29, 2013 Jun 30, 2013 Mar 31, 2013
Price to earnings (P/E) 21.37 20.14 19.48 19.59 18.75 15.75 15.06 14.80 13.88 16.43 16.89 17.16 17.93 17.99 17.69 16.07 15.13
Price to operating profit (P/OP) 14.90 14.53 13.63 13.70 12.86 10.89 10.68 10.44 9.85 11.32 11.59 11.27 11.68 11.18 10.91 10.31 9.68
Price to sales (P/S) 2.01 2.00 1.88 1.89 1.77 1.49 1.44 1.40 1.31 1.49 1.52 1.45 1.47 1.37 1.32 1.23 1.14
Price to book value (P/BV) 5.44 5.35 5.32 5.55 5.05 4.07 4.07 4.15 3.83 4.44 4.29 3.95 3.84 3.22 3.08 2.79 2.46 2.41 2.54 2.26
Ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. General Dynamics Corp.'s P/E ratio increased from Q2 2017 to Q3 2017 and from Q3 2017 to Q4 2017.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. General Dynamics Corp.'s P/OP ratio increased from Q2 2017 to Q3 2017 and from Q3 2017 to Q4 2017.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. General Dynamics Corp.'s P/S ratio increased from Q2 2017 to Q3 2017 and from Q3 2017 to Q4 2017.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company's required rate of return and its actual rate of return. General Dynamics Corp.'s P/BV ratio increased from Q2 2017 to Q3 2017 and from Q3 2017 to Q4 2017.

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Price to Earnings (P/E)

General Dynamics Corp., historical P/E calculation (quarterly data)

 
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 Dec 31, 2014 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014 Dec 31, 2013 Sep 29, 2013 Jun 30, 2013 Mar 31, 2013
No. shares of common stock outstanding1 296,933,621 298,582,883 299,461,802 301,685,448 302,742,234 304,519,550 305,278,868 305,646,967 311,161,810 316,128,160 322,727,167 328,732,777 331,704,599 331,389,741 334,315,950 342,860,725 342,250,398 352,198,231 349,867,839 353,186,716
Selected Financial Data (USD $)
Net earnings (in millions) 636  764  749  763  797  683  758  717  764  733  752  716  701  696  541  595  495  651  640  571 
Earnings per share (EPS)3 9.81 10.29 9.99 9.95 9.76 9.60 9.74 9.70 9.53 9.18 8.88 8.07 7.64 7.02 6.83 6.94 6.89
Share price1, 2 209.53 207.25 194.66 194.85 183.04 151.14 146.63 143.61 132.26 150.78 149.96 138.53 136.94 126.31 120.73 111.58 104.19 86.23 85.31 73.96
P/E ratio4 21.37 20.14 19.48 19.59 18.75 15.75 15.06 14.80 13.88 16.43 16.89 17.16 17.93 17.99 17.69 16.07 15.13

1 Data adjusted for splits and stock dividends.

2 Close price on the filing date of General Dynamics Corp.'s Quarterly or Annual Report.

Q4 2017 Calculations

3 EPS = (Net earningsQ4 2017 + Net earningsQ3 2017 + Net earningsQ2 2017 + Net earningsQ1 2017) ÷ No. shares of common stock outstanding
= (636,000,000 + 764,000,000 + 749,000,000 + 763,000,000) ÷ 296,933,621 = 9.81

4 P/E ratio = Share price ÷ EPS
= 209.53 ÷ 9.81 = 21.37

Ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. General Dynamics Corp.'s P/E ratio increased from Q2 2017 to Q3 2017 and from Q3 2017 to Q4 2017.

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Price to Operating Profit (P/OP)

General Dynamics Corp., historical P/OP calculation (quarterly data)

 
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 Dec 31, 2014 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014 Dec 31, 2013 Sep 29, 2013 Jun 30, 2013 Mar 31, 2013
No. shares of common stock outstanding1 296,933,621 298,582,883 299,461,802 301,685,448 302,742,234 304,519,550 305,278,868 305,646,967 311,161,810 316,128,160 322,727,167 328,732,777 331,704,599 331,389,741 334,315,950 342,860,725 342,250,398 352,198,231 349,867,839 353,186,716
Selected Financial Data (USD $)
Operating earnings (in millions) 1,034  1,052  1,056  1,035  1,117  1,069  1,070  1,053  1,036  1,034  1,081  1,027  1,067  999  949  874  921  957  960  847 
Operating profit per share3 14.07 14.27 14.28 14.22 14.23 13.88 13.73 13.75 13.43 13.31 12.93 12.30 11.72 11.29 11.07 10.83 10.77
Share price1, 2 209.53 207.25 194.66 194.85 183.04 151.14 146.63 143.61 132.26 150.78 149.96 138.53 136.94 126.31 120.73 111.58 104.19 86.23 85.31 73.96
P/OP ratio4 14.90 14.53 13.63 13.70 12.86 10.89 10.68 10.44 9.85 11.32 11.59 11.27 11.68 11.18 10.91 10.31 9.68

1 Data adjusted for splits and stock dividends.

2 Close price on the filing date of General Dynamics Corp.'s Quarterly or Annual Report.

Q4 2017 Calculations

3 Operating profit per share = (Operating earningsQ4 2017 + Operating earningsQ3 2017 + Operating earningsQ2 2017 + Operating earningsQ1 2017) ÷ No. shares of common stock outstanding
= (1,034,000,000 + 1,052,000,000 + 1,056,000,000 + 1,035,000,000) ÷ 296,933,621 = 14.07

4 P/OP ratio = Share price ÷ Operating profit per share
= 209.53 ÷ 14.07 = 14.90

Ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. General Dynamics Corp.'s P/OP ratio increased from Q2 2017 to Q3 2017 and from Q3 2017 to Q4 2017.

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Price to Sales (P/S)

General Dynamics Corp., historical P/S calculation (quarterly data)

 
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 Dec 31, 2014 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014 Dec 31, 2013 Sep 29, 2013 Jun 30, 2013 Mar 31, 2013
No. shares of common stock outstanding1 296,933,621 298,582,883 299,461,802 301,685,448 302,742,234 304,519,550 305,278,868 305,646,967 311,161,810 316,128,160 322,727,167 328,732,777 331,704,599 331,389,741 334,315,950 342,860,725 342,250,398 352,198,231 349,867,839 353,186,716
Selected Financial Data (USD $)
Revenue (in millions) 8,277  7,580  7,675  7,441  8,233  7,731  7,665  7,724  7,809  7,994  7,882  7,784  8,362  7,751  7,474  7,265  8,107  7,796  7,911  7,404 
Sales per share3 104.31 103.59 103.79 102.99 103.56 101.57 102.18 102.76 101.13 101.29 98.47 95.43 93.01 92.33 91.66 90.65 91.21
Share price1, 2 209.53 207.25 194.66 194.85 183.04 151.14 146.63 143.61 132.26 150.78 149.96 138.53 136.94 126.31 120.73 111.58 104.19 86.23 85.31 73.96
P/S ratio4 2.01 2.00 1.88 1.89 1.77 1.49 1.44 1.40 1.31 1.49 1.52 1.45 1.47 1.37 1.32 1.23 1.14

1 Data adjusted for splits and stock dividends.

2 Close price on the filing date of General Dynamics Corp.'s Quarterly or Annual Report.

Q4 2017 Calculations

3 Sales per share = (RevenueQ4 2017 + RevenueQ3 2017 + RevenueQ2 2017 + RevenueQ1 2017) ÷ No. shares of common stock outstanding
= (8,277,000,000 + 7,580,000,000 + 7,675,000,000 + 7,441,000,000) ÷ 296,933,621 = 104.31

4 P/S ratio = Share price ÷ Sales per share
= 209.53 ÷ 104.31 = 2.01

Ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. General Dynamics Corp.'s P/S ratio increased from Q2 2017 to Q3 2017 and from Q3 2017 to Q4 2017.

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Price to Book Value (P/BV)

General Dynamics Corp., historical P/BV calculation (quarterly data)

 
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 Dec 31, 2014 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014 Dec 31, 2013 Sep 29, 2013 Jun 30, 2013 Mar 31, 2013
No. shares of common stock outstanding1 296,933,621 298,582,883 299,461,802 301,685,448 302,742,234 304,519,550 305,278,868 305,646,967 311,161,810 316,128,160 322,727,167 328,732,777 331,704,599 331,389,741 334,315,950 342,860,725 342,250,398 352,198,231 349,867,839 353,186,716
Selected Financial Data (USD $)
Shareholders' equity (in millions) 11,435  11,564  10,952  10,583  10,976  11,317  10,995  10,582  10,738  10,734  11,276  11,520  11,829  13,010  13,119  13,690  14,501  12,605  11,756  11,582 
Book value per share (BVPS)3 38.51 38.73 36.57 35.08 36.26 37.16 36.02 34.62 34.51 33.95 34.94 35.04 35.66 39.26 39.24 39.93 42.37 35.79 33.60 32.79
Share price1, 2 209.53 207.25 194.66 194.85 183.04 151.14 146.63 143.61 132.26 150.78 149.96 138.53 136.94 126.31 120.73 111.58 104.19 86.23 85.31 73.96
P/BV ratio4 5.44 5.35 5.32 5.55 5.05 4.07 4.07 4.15 3.83 4.44 4.29 3.95 3.84 3.22 3.08 2.79 2.46 2.41 2.54 2.26

1 Data adjusted for splits and stock dividends.

2 Close price on the filing date of General Dynamics Corp.'s Quarterly or Annual Report.

Q4 2017 Calculations

3 BVPS = Shareholders' equity ÷ No. shares of common stock outstanding
= 11,435,000,000 ÷ 296,933,621 = 38.51

4 P/BV ratio = Share price ÷ BVPS
= 209.53 ÷ 38.51 = 5.44

Ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company's required rate of return and its actual rate of return. General Dynamics Corp.'s P/BV ratio increased from Q2 2017 to Q3 2017 and from Q3 2017 to Q4 2017.

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