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Investor's Craft

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IntroductionThe concept of valuationRevenue and revenue growthVariable costsFixed costsProduction assets

Intrinsic value of General Dynamics Corporation (GD)

Previous Close$213.50
Intrinsic Value$93.00*
Upside potential  -56%
Previous Close
$213.50
Intrinsic Value
$93.00*
Potential        
-56%
* Our model cannot be used “out of the box” for the valuation of this stock. You can still do your own valuation by changing the valuation input parameters.
Use floor (the cash flow based valuation has rendered a result, which is lower than an estimated minimum value derived from the company’s balance sheet analysis)

VALUATION INPUT DATA

Revenue, mln $
Initial revenue growth rate (norm.), %
Variable cost ratio, %
Fixed operating expenses, mln $
Production assets / Revenue, %
Working capital / Revenue, %
Interest rate on debt, %
Initial discount rate, %
Shares outstanding, mln
Adjusted equity ratio
Adjusted assets / Revenue
Cash & ST Investments
Total debt
Market cap, m$
59,268

Based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %1.4NaN
Revenue, $38469NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m34306NaN
Operating income, $m4163NaN
EBITDA, $m5053NaN
Interest expense (income), $mNaN
Earnings before tax, $m3873NaN
Tax expense, $m616NaN
Net income, $m3257NaN

BALANCE SHEET

Cash and short-term investments, $m1603NaN
Total assets, $m50073NaN
Adjusted assets (=assets-cash), $m48470NaN
Average production assets, $m28674NaN
Working capital, $m6009NaN
Total debt, $m13512NaN
Total liabilities, $m32432NaN
Total equity, $m17641NaN
Debt-to-equity ratio0.766NaN
Adjusted equity ratio0.360NaN

CASH FLOW

Net income, $m3257NaN
Depreciation, amort., depletion, $m890NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m4271NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-887NaN
Free cash flow, $m5158NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m6009
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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