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Side-by-side financial comparison of General Dynamics (GD) and Lennar (LEN). Click either name above to swap in a different company.
General Dynamics is the larger business by last-quarter revenue ($13.5B vs $9.4B, roughly 1.4× Lennar). General Dynamics runs the higher net margin — 8.3% vs 5.2%, a 3.1% gap on every dollar of revenue. On growth, General Dynamics posted the faster year-over-year revenue change (10.3% vs -5.8%). General Dynamics produced more free cash flow last quarter ($2.0B vs $1.7B). Over the past eight quarters, Lennar's revenue compounded faster (13.2% CAGR vs 6.1%).
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.
Lennar Corporation is an American home construction company based in Miami-Dade County, Florida. As of 2025, it is the second-largest home construction company in the United States based on the number of homes sold. Lennar has investments in multifamily and single-family residential rental properties, luxury development, property technology with LenX, and mortgage lending from Lennar Mortgage.
GD vs LEN — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.5B | $9.4B |
| Net Profit | $1.1B | $490.2M |
| Gross Margin | — | — |
| Operating Margin | 10.5% | 7.3% |
| Net Margin | 8.3% | 5.2% |
| Revenue YoY | 10.3% | -5.8% |
| Net Profit YoY | 758.8% | -55.3% |
| 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 | $14.4B | $9.4B | ||
| Q3 25 | $12.9B | $8.8B | ||
| Q2 25 | $13.0B | $8.4B | ||
| Q1 25 | $12.2B | $7.6B | ||
| Q4 24 | $13.3B | $9.9B | ||
| Q3 24 | $11.7B | $9.4B | ||
| Q2 24 | $12.0B | $8.8B |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $490.2M | ||
| Q3 25 | $1.1B | $591.0M | ||
| Q2 25 | $1.0B | $477.4M | ||
| Q1 25 | $994.0M | $519.5M | ||
| Q4 24 | $1.1B | $1.1B | ||
| Q3 24 | $930.0M | $1.2B | ||
| Q2 24 | $905.0M | $954.3M |
| Q1 26 | 10.5% | — | ||
| Q4 25 | 10.1% | 7.3% | ||
| Q3 25 | 10.3% | 9.0% | ||
| Q2 25 | 10.0% | 7.7% | ||
| Q1 25 | 10.4% | 9.1% | ||
| Q4 24 | 10.7% | 14.7% | ||
| Q3 24 | 10.1% | 16.3% | ||
| Q2 24 | 9.7% | 14.4% |
| Q1 26 | 8.3% | — | ||
| Q4 25 | 7.9% | 5.2% | ||
| Q3 25 | 8.2% | 6.7% | ||
| Q2 25 | 7.8% | 5.7% | ||
| Q1 25 | 8.1% | 6.8% | ||
| Q4 24 | 8.6% | 11.0% | ||
| Q3 24 | 8.0% | 12.3% | ||
| Q2 24 | 7.6% | 10.9% |
| Q1 26 | $4.10 | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $2.29 | ||
| Q2 25 | — | $1.81 | ||
| Q1 25 | — | $1.96 | ||
| Q4 24 | — | $4.03 | ||
| Q3 24 | — | $4.26 | ||
| Q2 24 | — | $3.45 |
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 | $3.8B |
| Total DebtLower is stronger | $6.3B | $5.9B |
| Stockholders' EquityBook value | $26.1B | $22.0B |
| Total Assets | $59.0B | $34.4B |
| Debt / EquityLower = less leverage | 0.24× | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $3.7B | — | ||
| Q4 25 | $2.3B | $3.8B | ||
| Q3 25 | $2.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.7B | $4.9B | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | $1.4B | — |
| Q1 26 | $6.3B | — | ||
| Q4 25 | $8.1B | $5.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $8.8B | $4.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $26.1B | — | ||
| Q4 25 | $25.6B | $22.0B | ||
| Q3 25 | $24.4B | $22.6B | ||
| Q2 25 | $23.6B | $22.6B | ||
| Q1 25 | $22.2B | $22.7B | ||
| Q4 24 | $22.1B | $27.9B | ||
| Q3 24 | $23.0B | $27.4B | ||
| Q2 24 | $22.0B | $26.9B |
| Q1 26 | $59.0B | — | ||
| Q4 25 | $57.2B | $34.4B | ||
| Q3 25 | $57.6B | $34.9B | ||
| Q2 25 | $56.9B | $34.4B | ||
| Q1 25 | $56.6B | $35.0B | ||
| Q4 24 | $55.9B | $41.3B | ||
| Q3 24 | $57.3B | $39.7B | ||
| Q2 24 | $55.4B | $38.7B |
| Q1 26 | 0.24× | — | ||
| Q4 25 | 0.32× | 0.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.40× | 0.15× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $1.8B |
| Free Cash FlowOCF − Capex | $2.0B | $1.7B |
| FCF MarginFCF / Revenue | 14.5% | 17.9% |
| Capex IntensityCapex / Revenue | 1.5% | 0.9% |
| Cash ConversionOCF / Net Profit | — | 3.59× |
| TTM Free Cash FlowTrailing 4 quarters | $6.2B | $28.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $1.8B | ||
| Q3 25 | $2.1B | $-158.6M | ||
| Q2 25 | $1.6B | $-1.1B | ||
| Q1 25 | $-148.0M | $-289.0M | ||
| Q4 24 | $2.2B | $974.5M | ||
| Q3 24 | $1.4B | $819.2M | ||
| Q2 24 | $814.0M | $241.8M |
| Q1 26 | $2.0B | — | ||
| Q4 25 | $952.0M | $1.7B | ||
| Q3 25 | $1.9B | $-190.8M | ||
| Q2 25 | $1.4B | $-1.1B | ||
| Q1 25 | $-290.0M | $-345.1M | ||
| Q4 24 | $1.8B | $933.1M | ||
| Q3 24 | $1.2B | $800.8M | ||
| Q2 24 | $613.0M | $203.0M |
| Q1 26 | 14.5% | — | ||
| Q4 25 | 6.6% | 17.9% | ||
| Q3 25 | 14.7% | -2.2% | ||
| Q2 25 | 10.7% | -13.3% | ||
| Q1 25 | -2.4% | -4.5% | ||
| Q4 24 | 13.5% | 9.4% | ||
| Q3 24 | 10.4% | 8.5% | ||
| Q2 24 | 5.1% | 2.3% |
| Q1 26 | 1.5% | — | ||
| Q4 25 | 4.2% | 0.9% | ||
| Q3 25 | 1.6% | 0.4% | ||
| Q2 25 | 1.5% | 0.2% | ||
| Q1 25 | 1.2% | 0.7% | ||
| Q4 24 | 2.7% | 0.4% | ||
| Q3 24 | 1.7% | 0.2% | ||
| Q2 24 | 1.7% | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.37× | 3.59× | ||
| Q3 25 | 1.99× | -0.27× | ||
| Q2 25 | 1.58× | -2.29× | ||
| Q1 25 | -0.15× | -0.56× | ||
| Q4 24 | 1.88× | 0.89× | ||
| Q3 24 | 1.52× | 0.70× | ||
| Q2 24 | 0.90× | 0.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GD
Segment breakdown not available.
LEN
| Lennar Homebuilding East Central West Houstonand Other | $8.9B | 95% |
| Lennar Financial Services | $308.8M | 3% |
| Lennar Multifamily | $158.7M | 2% |
| Lennar Other | $14.8M | 0% |
| Homebuilding Other Regions | $3.9M | 0% |
