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Side-by-side financial comparison of Athene Holding Ltd. (ATHS) and General Dynamics (GD). Click either name above to swap in a different company.
General Dynamics is the larger business by last-quarter revenue ($13.5B vs $8.1B, roughly 1.7× Athene Holding Ltd.). General Dynamics runs the higher net margin — 8.3% vs 6.4%, a 1.9% gap on every dollar of revenue. On growth, Athene Holding Ltd. posted the faster year-over-year revenue change (115.1% vs 10.3%). Over the past eight quarters, Athene Holding Ltd.'s revenue compounded faster (19.2% CAGR vs 6.1%).
Athene Holding Ltd. is a leading US-focused retirement services provider. It offers fixed, indexed and variable annuity products plus tailored retirement savings solutions for individual consumers and institutional clients, aiming to help customers secure long-term financial stability for their retirement.
General Dynamics Corporation (GD) is an American industrial and technology company based in Reston, Virginia. It is primarily a developer and producer of advanced military equipment of a wide variety, such as nuclear submarines, main battle tanks, and armoured fighting vehicles. It is also the manufacturer of the civilian aviation Gulfstream business jets and a provider of information technology services. The company is the 3rd largest of the top 100 contractors of the U.S.
ATHS vs GD — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $8.1B | $13.5B |
| Net Profit | $523.0M | $1.1B |
| Gross Margin | — | — |
| Operating Margin | 16.9% | 10.5% |
| Net Margin | 6.4% | 8.3% |
| Revenue YoY | 115.1% | 10.3% |
| Net Profit YoY | -48.5% | 13.2% |
| EPS (diluted) | — | $4.10 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $13.5B | ||
| Q4 25 | $8.1B | $14.4B | ||
| Q3 25 | $8.0B | $12.9B | ||
| Q2 25 | $5.4B | $13.0B | ||
| Q1 25 | $4.2B | $12.2B | ||
| Q4 24 | $3.8B | $13.3B | ||
| Q3 24 | $6.5B | $11.7B | ||
| Q2 24 | $4.7B | $12.0B |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $523.0M | $1.1B | ||
| Q3 25 | $1.3B | $1.1B | ||
| Q2 25 | $464.0M | $1.0B | ||
| Q1 25 | $465.0M | $994.0M | ||
| Q4 24 | $1.0B | $1.1B | ||
| Q3 24 | $625.0M | $930.0M | ||
| Q2 24 | $629.0M | $905.0M |
| Q1 26 | — | 10.5% | ||
| Q4 25 | 16.9% | 10.1% | ||
| Q3 25 | 26.8% | 10.3% | ||
| Q2 25 | 12.2% | 10.0% | ||
| Q1 25 | 22.3% | 10.4% | ||
| Q4 24 | 30.4% | 10.7% | ||
| Q3 24 | 25.7% | 10.1% | ||
| Q2 24 | 22.0% | 9.7% |
| Q1 26 | — | 8.3% | ||
| Q4 25 | 6.4% | 7.9% | ||
| Q3 25 | 15.7% | 8.2% | ||
| Q2 25 | 8.7% | 7.8% | ||
| Q1 25 | 11.1% | 8.1% | ||
| Q4 24 | 26.8% | 8.6% | ||
| Q3 24 | 9.6% | 8.0% | ||
| Q2 24 | 13.5% | 7.6% |
| Q1 26 | — | $4.10 | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $3.7B |
| Total DebtLower is stronger | $7.8B | $6.3B |
| Stockholders' EquityBook value | $20.5B | $26.1B |
| Total Assets | $442.2B | $59.0B |
| Debt / EquityLower = less leverage | 0.38× | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $3.7B | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $1.4B |
| Q1 26 | — | $6.3B | ||
| Q4 25 | $7.8B | $8.1B | ||
| Q3 25 | $7.9B | — | ||
| Q2 25 | $7.9B | — | ||
| Q1 25 | $6.3B | — | ||
| Q4 24 | $6.3B | $8.8B | ||
| Q3 24 | $5.7B | — | ||
| Q2 24 | $5.7B | — |
| Q1 26 | — | $26.1B | ||
| Q4 25 | $20.5B | $25.6B | ||
| Q3 25 | $20.4B | $24.4B | ||
| Q2 25 | $18.1B | $23.6B | ||
| Q1 25 | $17.5B | $22.2B | ||
| Q4 24 | $16.4B | $22.1B | ||
| Q3 24 | $17.4B | $23.0B | ||
| Q2 24 | $15.0B | $22.0B |
| Q1 26 | — | $59.0B | ||
| Q4 25 | $442.2B | $57.2B | ||
| Q3 25 | $429.9B | $57.6B | ||
| Q2 25 | $405.3B | $56.9B | ||
| Q1 25 | $381.5B | $56.6B | ||
| Q4 24 | $363.3B | $55.9B | ||
| Q3 24 | $355.0B | $57.3B | ||
| Q2 24 | $332.6B | $55.4B |
| Q1 26 | — | 0.24× | ||
| Q4 25 | 0.38× | 0.32× | ||
| Q3 25 | 0.38× | — | ||
| Q2 25 | 0.43× | — | ||
| Q1 25 | 0.36× | — | ||
| Q4 24 | 0.39× | 0.40× | ||
| Q3 24 | 0.33× | — | ||
| Q2 24 | 0.38× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $3.0B | — |
| Free Cash FlowOCF − Capex | — | $2.0B |
| FCF MarginFCF / Revenue | — | 14.5% |
| Capex IntensityCapex / Revenue | — | 1.5% |
| Cash ConversionOCF / Net Profit | 5.82× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $6.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $3.0B | $1.6B | ||
| Q3 25 | $636.0M | $2.1B | ||
| Q2 25 | $1.1B | $1.6B | ||
| Q1 25 | $426.0M | $-148.0M | ||
| Q4 24 | $386.0M | $2.2B | ||
| Q3 24 | $780.0M | $1.4B | ||
| Q2 24 | $525.0M | $814.0M |
| Q1 26 | — | $2.0B | ||
| Q4 25 | — | $952.0M | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $-290.0M | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $613.0M |
| Q1 26 | — | 14.5% | ||
| Q4 25 | — | 6.6% | ||
| Q3 25 | — | 14.7% | ||
| Q2 25 | — | 10.7% | ||
| Q1 25 | — | -2.4% | ||
| Q4 24 | — | 13.5% | ||
| Q3 24 | — | 10.4% | ||
| Q2 24 | — | 5.1% |
| Q1 26 | — | 1.5% | ||
| Q4 25 | — | 4.2% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 1.7% | ||
| Q2 24 | — | 1.7% |
| Q1 26 | — | — | ||
| Q4 25 | 5.82× | 1.37× | ||
| Q3 25 | 0.51× | 1.99× | ||
| Q2 25 | 2.28× | 1.58× | ||
| Q1 25 | 0.92× | -0.15× | ||
| Q4 24 | 0.38× | 1.88× | ||
| Q3 24 | 1.25× | 1.52× | ||
| Q2 24 | 0.83× | 0.90× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
