General Dynamics (FRA:GDX) EBIT

: €4,272 Mil (TTM As of Mar. 2023)

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General Dynamics's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2023 was €876 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2023 was €4,272 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. General Dynamics's annualized ROC % for the quarter that ended in Mar. 2023 was 6.80%. General Dynamics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2023 was 63.43%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. General Dynamics's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2023 was 6.94%.

General Dynamics EBIT Historical Data

The historical data trend for General Dynamics's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

General Dynamics Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

EBIT

3,919.46

4,206.60

3,474.59

3,809.04

4,179.09

General Dynamics Quarterly Data
	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23
EBIT																824.46	925.19	1,108.98	1,362.19	876.09

General Dynamics EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was €4,272 Mil.

General Dynamics (FRA:GDX) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

General Dynamics's annualized ROC % for the quarter that ended in Mar. 2023 is calculated as:

	ROC % (Q: Mar. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2022 )	+	Invested Capital (Q: Mar. 2023 ))	/ count )
=	3504.368 * ( 1 - 17.05% )	/	( (42935.008	+	42532.492)	/ 2 )
=	2906.873256	/	42733.75
=	6.80 %

where

	Invested Capital		(Q: Dec. 2022 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	48696.24	-	4588.784	-	( 1172.448	-	max(0, 14481.904	-	19883.472	+	1172.448	))
=	42935.008

	Invested Capital		(Q: Mar. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	48657.664	-	4221.68	-	( 1903.492	-	max(0, 14462.056	-	20163.192	+	1903.492	))
=	42532.492

Note: The Operating Income data used here is four times the quarterly (Mar. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

General Dynamics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2022		Q: Mar. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	3504.368	/	( ( (5569.6 + max(-2618.656, 0))	+	(5479.778 + max(-2381.7, 0)) )	/	2 )
=	3504.368	/	( ( 5569.6	+	5479.778 )	/	2 )
=	3504.368	/	5524.689
=	63.43 %

where Working Capital is:

	Working Capital		(Q: Dec. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2839.552	+	5967.968	+	1601.024)	-	(4588.784	+	7019.584	+	1418.832)
=	-2618.656

	Working Capital		(Q: Mar. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2742.224	+	6543.604	+	1363.64)	-	(4221.68	+	7207.678	+	1601.81)
=	-2381.7

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

General Dynamics's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2023 )
	=	4272.452	/	61578.575
	=	6.94 %

General Dynamics EBIT Related Terms

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General Dynamics (FRA:GDX) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Aerospace & Defense » General Dynamics Corp (FRA:GDX) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

GD:USA GD:Mexico GDX:Germany GDBR34:Brazil GEDY:Austria

Address

11011 Sunset Hills Road, Reston, VA, USA, 20190

Website

https://www.gd.com

General Dynamics is a defense contractor and business jet manufacturer. The firm's segments include aerospace, combat systems, marine, and technologies. General Dynamics' aerospace segment creates Gulfstream business jets. Combat system produces land-based combat vehicles, such as the M1 Abrams tank. The marine subsegment creates nuclear-powered submarines, among other things. The technologies segment contains two main units, an IT business that primarily serves the government market and a mission systems business that focuses on products that provide command, control, computers, intelligence, surveillance, and reconnaissance capabilities to the military.