General Dynamics Corporation

XTRA:GDX Stock Report

Market Cap: €73.3b

General Dynamics Valuation

Is GDX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of GDX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: GDX (€268.8) is trading below our estimate of fair value (€473.39)

Significantly Below Fair Value: GDX is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GDX?

Key metric: As GDX is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for GDX. This is calculated by dividing GDX's market cap by their current earnings.
What is GDX's PE Ratio?
PE Ratio21.1x
EarningsUS$3.64b
Market CapUS$76.88b

Price to Earnings Ratio vs Peers

How does GDX's PE Ratio compare to its peers?

The above table shows the PE ratio for GDX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22.9x
RHM Rheinmetall
38.4x29.0%€26.3b
MTX MTU Aero Engines
23.8x10.7%€16.9b
OHB OHB
12.7x11.0%€884.8m
SIE Siemens
16.7x5.9%€137.1b
GDX General Dynamics
21.1x9.2%€76.9b

Price-To-Earnings vs Peers: GDX is good value based on its Price-To-Earnings Ratio (21.1x) compared to the peer average (22.9x).

Price to Earnings Ratio vs Industry

How does GDX's PE Ratio compare vs other companies in the European Aerospace & Defense Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
GDX 21.1xIndustry Avg. 23.4xNo. of Companies10PE020406080100+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: GDX is good value based on its Price-To-Earnings Ratio (21.1x) compared to the European Aerospace & Defense industry average (23.4x).

Price to Earnings Ratio vs Fair Ratio

What is GDX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GDX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio21.1x
Fair PE Ratio21.5x

Price-To-Earnings vs Fair Ratio: GDX is good value based on its Price-To-Earnings Ratio (21.1x) compared to the estimated Fair Price-To-Earnings Ratio (21.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst GDX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€268.80
€314.96
+17.2%
6.1%€348.21€269.98n/a21
Nov ’25€271.25
€303.46
+11.9%
6.1%€335.58€260.19n/a21
Oct ’25€269.75
€292.40
+8.4%
4.4%€311.67€261.08n/a23
Sep ’25€267.85
€294.19
+9.8%
4.4%€312.98€262.18n/a23
Aug ’25€271.25
€297.68
+9.7%
4.6%€318.75€267.01n/a22
Jul ’25€268.20
€294.75
+9.9%
5.4%€321.30€252.38n/a21
Jun ’25€272.05
€290.98
+7.0%
5.1%€319.44€250.92n/a20
May ’25€265.00
€289.71
+9.3%
6.0%€322.51€253.33n/a21
Apr ’25€261.40
€274.33
+4.9%
7.6%€321.20€235.54n/a23
Mar ’25€251.00
€270.82
+7.9%
7.1%€321.16€235.52n/a23
Feb ’25€244.40
€267.37
+9.4%
7.4%€318.19€233.34n/a23
Jan ’25€232.80
€251.41
+8.0%
8.9%€313.57€213.59n/a22
Dec ’24€227.70
€253.53
+11.3%
7.4%€303.88€219.73n/a22
Nov ’24€230.10
€255.92
+11.2%
7.5%€307.58€222.40€271.2522
Oct ’24€210.70
€251.21
+19.2%
8.8%€309.37€216.08€269.7521
Sep ’24€209.40
€241.26
+15.2%
8.8%€296.89€207.36€267.8520
Aug ’24€204.80
€240.14
+17.3%
8.7%€295.91€206.68€271.2520
Jul ’24€197.05
€243.96
+23.8%
9.8%€303.84€203.81€268.2019
Jun ’24€191.85
€244.22
+27.3%
10.1%€304.10€203.98€272.0518
May ’24€197.15
€237.31
+20.4%
11.0%€294.94€197.84€265.0018
Apr ’24€209.50
€250.62
+19.6%
9.5%€304.49€208.93€261.4018
Mar ’24€212.80
€250.62
+17.8%
9.5%€304.49€208.93€251.0018
Feb ’24€211.45
€241.33
+14.1%
10.0%€295.85€202.09€244.4018
Jan ’24€233.60
€255.21
+9.3%
10.2%€306.18€213.86€232.8019
Dec ’23€238.80
€256.00
+7.2%
10.6%€312.13€202.64€227.7018
Nov ’23€254.05
€268.95
+5.9%
10.5%€328.97€213.57€230.1017

Analyst Forecast: Target price is less than 20% higher than the current share price.

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