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Some businesses have very light assets, such as software companies or insurance agencies. The Price-to-Book Ratio does not work well for these companies. Some companies even have negative equity, so the Price-to-Book Ratio cannot be applied to them.
General Dynamics Price-to-Tangible-Book Related Terms
General Dynamics Price-to-Tangible-Book Historical Data
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The historical data trend for General Dynamics's Price-to-Tangible-Book 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.
GD vs HWM, NOC, LMT: Price-to-Tangible-Book Comparison
For the Aerospace & Defense subindustry, General Dynamics's Price-to-Tangible-Book, along with its competitors' market caps and Price-to-Tangible-Book data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
General Dynamics Price-to-Tangible-Book vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, General Dynamics's Price-to-Tangible-Book distribution charts can be found below:
* The bar in red indicates where General Dynamics's Price-to-Tangible-Book falls into.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called PB Ratio. The difference between Price-to-Tangible-Book Ratio and PB Ratio is that book value other than intangibles are used in the calculation.
General Dynamics (GD) has a Price-to-Tangible-Book of 21.06 as of Sep. 05, 2026. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on General Dynamics and its competitors. According to the industry distribution chart, General Dynamics ranks #276 out of 306 companies in the Aerospace & Defense industry, placing it in the top 90.2%.
Is General Dynamics' Price-to-Tangible-Book too high?
General Dynamics' current Price-to-Tangible-Book is 21.06. The Aerospace & Defense industry median Price-to-Tangible-Book is 4.24. General Dynamics' value of 21.06 is 396.7% above this industry median. Based on the distribution chart, General Dynamics ranks #276 out of 306 companies in the Aerospace & Defense industry, which is in the bottom quartile relative to peers. Overall, General Dynamics has a GF Score™ of 93/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does General Dynamics' Price-to-Tangible-Book compare to HWM and NOC?
According to the Aerospace & Defense industry distribution chart, General Dynamics ranks #276 out of 306 companies for Price-to-Tangible-Book. This places General Dynamics in the lower half of its industry. The industry median Price-to-Tangible-Book is 4.24. General Dynamics' value of 21.06 is 396.7% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Price-to-Tangible-Book for an Aerospace & Defense company?
The median Price-to-Tangible-Book among Aerospace & Defense companies is 4.24, based on 306 companies in the industry. Companies in the top quartile (top 25%) have a Price-to-Tangible-Book significantly above this median, while those in the bottom quartile fall well below. However, Price-to-Tangible-Book should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. General Dynamics's current Price-to-Tangible-Book of 21.06 is 396.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Price-to-Tangible-Book mean?
A high Price-to-Tangible-Book can signal that a stock is expensive relative to its fundamentals. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on General Dynamics and its competitors. For the Aerospace & Defense industry, the median Price-to-Tangible-Book is 4.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. General Dynamics's current Price-to-Tangible-Book is 21.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is General Dynamics stock overvalued right now?
Based on GuruFocus' analysis, General Dynamics (GD) is currently considered Fairly Valued. The stock's GF Value™ is $358.16, compared to a current price of $359.39 — trading 0.3% above its estimated fair value. The current Price-to-Tangible-Book is 21.06 and 396.7% above the Aerospace & Defense industry median of 4.24. General Dynamics' overall GF Score™ is 93/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Price-to-Tangible-Book calculated?
Price-to-Tangible-Book is calculated from a company's financial statements. For General Dynamics (GD), the current Price-to-Tangible-Book is 21.06 as of Sep. 05, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is General Dynamics (GD) Overvalued in 2026?
Based on GuruFocus' analysis, General Dynamics stock appears to be overvalued.
The current stock price of $359.39 is trading 0.3% above its estimated GF Value™ of $358.16.
GuruFocus considers General Dynamics to be Fairly Valued.
Key valuation signals for GD:
Price-to-Tangible-Book: 21.06
GF Value™: $358.16 vs. price of $359.39 (0.3% above fair value)
Industry Position: 396.7% above the Aerospace & Defense median (#276 of 306)
No single metric tells the full story. See the GD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
General Dynamics is a defense contractor and business jet manufacturer. The firm's segments are aerospace, marine, combat systems, and technologies. General Dynamics' aerospace segment manufactures Gulfstream business jets and operates a global aircraft servicing operation. Combat systems produces land-based combat vehicles such as the M1 Abrams tank and Stryker armored personnel carrier, as well as munitions. The marine segment builds and services nuclear-powered submarines, destroyers, and Navy support ships. The technologies segment contains two main units: an IT business that primarily serves the government market and a mission systems business focusing on electronics that provide command, control, computing, intelligence, surveillance, and reconnaissance capabilities to the military.
93GF Score
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Price-to-Tangible-Book is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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