Slide 1: Full-Year 2025 Highlights and Outlook Update
Full-Year 2025 Highlights and Outlook Update January 28, 2026
Slide 2: Forward-Looking Statements; Non-GAAP Measures
Forward-Looking Statements; Non-GAAP Measures This presentation contains forward-looking statements (FLS), including statements about the company’s future operational and financial performance, which are based on management’s expectations, estimates, projections and assumptions. Words such as “expec
Slide 3: Full-Year 2025 Financial Highlights
Full-Year 2025 Financial Highlights $ In Millions, Except EPS Full Year 2025 2024 2025 vs. 2024 Revenue $ 52,550 $ 47,716 10.1% Operating Earnings 5,356 4,796 11.7% Operating Margin 10.2% 10.1% 10 bps Net Earnings 4,210 3,782 11.3% EPS, Diluted 15.45 13.63 13.4% Total Backlog $ 118,046 $ 90,597 30.3
Slide 4: Aerospace – Full-Year 2025 Highlights
Aerospace – Full-Year 2025 Highlights Revenue Operating Earnings and Total Backlog and $ In Millions Operating Margin Orders $ In Millions $ In Billions $21.8 13.0% 13.3% $20.6 $13,110 $19.7 $19.9 $19.0 $11,249 $5.1 $1,746 $4.1 $3.8 $4.0 $1,464 $2.4 2024 2025 2024 2025 4Q24 1Q25 2Q25 3Q25 4Q25 • Ann
Slide 5: Combat Systems – Full-Year 2025 Highlights
Combat Systems – Full-Year 2025 Highlights Revenue Operating Earnings and Total Backlog and $ In Millions Operating Margin Orders $ In Millions $ In Billions $27.2 14.2% 14.4% $8,997 $9,246 $18.7 $17.0 $10.9 $1,276 $1,331 $16.9 $16.6 $4.4 $1.9 $2.0 $2.2 2024 2025 2024 2025 4Q24 1Q25 2Q25 3Q25 4Q25 •
Slide 6: Marine Systems – Full-Year 2025 Highlights
Marine Systems – Full-Year 2025 Highlights Revenue Operating Earnings and Total Backlog and $ In Millions Operating Margin Orders $ In Millions $ In Billions 7.0% $53.0 $53.6 6.5% $52.3 $16,723 $14,343 $1,177 $39.8 $38.4 $18.8 $935 $4.7 $3.5 $3.3 $2.1 2024 2025 2024 2025 4Q24 1Q25 2Q25 3Q25 4Q25 • A
Slide 7: Technologies – Full-Year 2025 Highlights
Technologies – Full-Year 2025 Highlights Revenue Operating Earnings and Total Backlog and $ In Millions Operating Margin Total Estimated Contract Value $ In Millions $ In Billions $13,471 9.6% 9.5% $49.3 $49.9 $13,127 $48.1 $47.0 $46.2 $1,260 $1,277 $16.9 $16.7 $14.1 $14.4 $14.2 2024 2025 2024 2025
Slide 8: Financial Guidance
Financial Guidance 2025 Actual 2026 Guidance EPS, diluted $15.45 $16.10 – 16.20 Revenue ($B) Operating Margin Revenue ($B) Operating Margin $13.1 ≈ $13.6 Aerospace 13.3% ≈ 14.0% 158 deliveries ≈ 160 deliveries Combat Systems $9.2 14.4% ≈ $9.6 – 9.7 ≈ 14.1% Marine Systems $16.7 7.0% ≈ $17.3 – 17.7 ≈
Slide 9: General Dynamics
GENERAL DYNAMICS