NYSE : GE
GE Aerospace — Financial statements
Industrials · Aerospace & Defense · United States
Last price 301.8 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 311.87B
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Financial statements
GE Aerospace (GE) reported revenue of 52.58B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 49.40B | 42.32B | 35.12B | 31.96B | 26.18B | 53.37B |
| Other Revenue | 3.18B | 3.53B | 3.58B | 3.39B | 2.96B | 3.10B |
| Revenue | 52.58B | 45.85B | 38.70B | 35.35B | 29.14B | 56.47B |
| Cost of Revenue | 34.05B | 28.96B | 24.28B | 22.93B | 18.97B | 43.03B |
| Gross Profit | 15.81B | 14.44B | 11.99B | 9.53B | 7.58B | 11.27B |
| Selling, General & Admin | 3.65B | 3.38B | 2.95B | 2.28B | 2.79B | 9.65B |
| Research & Development | 1.81B | 1.58B | 1.29B | 1.01B | 808.00M | 1.68B |
| Operating Expenses | 5.46B | 4.96B | 4.24B | 3.29B | 3.59B | 11.34B |
| Operating Income | 10.35B | 9.48B | 7.76B | 6.25B | 3.98B | -70.00M |
| Interest Expense | -925.00M | -843.00M | -986.00M | -1.03B | -1.34B | -1.79B |
| Interest & Investment Income | 843.00M | 946.00M | 813.00M | 637.00M | 466.00M | 585.00M |
| Earnings From Equity Investments | 287.00M | 216.00M | 173.00M | 169.00M | 70.00M | -123.00M |
| Other Non Operating Income (Expenses) | 246.00M | 289.00M | 235.00M | -301.00M | -121.00M | 1.29B |
| EBT Excluding Unusual Items | 10.80B | 10.09B | 7.99B | 5.72B | 3.06B | -106.00M |
| Merger & Restructuring Charges | -32.00M | -118.00M | -1.04B | -952.00M | -1.16B | -663.00M |
| Impairment of Goodwill | -251.00M | |||||
| Gain (Loss) on Sale of Investments | 8.00M | 21.00M | 518.00M | 5.78B | 47.00M | 1.65B |
| Gain (Loss) on Sale of Assets | -145.00M | 347.00M | -170.00M | |||
| Other Unusual Items | 27.00M | 6.00M | 52.00M | -105.00M | -427.00M | -6.41B |
| Pretax Income | 10.66B | 10.00B | 7.62B | 10.44B | 1.52B | -5.70B |
| Income Tax Expense | 1.43B | 1.41B | 962.00M | 994.00M | 169.00M | -757.00M |
| Earnings From Continuing Operations | 9.22B | 8.60B | 6.66B | 9.45B | 1.35B | -4.94B |
| Earnings From Discontinued Operations | -99.00M | 103.00M | -91.00M | -3.00M | -949.00M | -1.47B |
| Net Income to Company | 9.12B | 8.70B | 6.57B | 9.45B | 403.00M | -6.41B |
| Minority Interest in Earnings | -21.00M | 6.00M | -11.00M | 37.00M | -67.00M | 71.00M |
| Net Income | 9.10B | 8.70B | 6.56B | 9.48B | 336.00M | -6.34B |
| Preferred Dividends & Other Adjustments | 295.00M | 285.00M | 246.00M | |||
| Net Income to Common | 9.10B | 8.70B | 6.56B | 9.19B | 51.00M | -6.58B |
| Shares Outstanding (Basic) | 1.04B | 1.06B | 1.08B | 1.09B | 1.10B | 1.10B |
| Shares Outstanding (Diluted) | 1.05B | 1.07B | 1.09B | 1.10B | 1.10B | 1.10B |
| EPS (Basic) | 8.72 | 8.20 | 6.04 | 8.44 | 0.05 | -6.00 |
| EPS (Diluted) | 8.67 | 8.15 | 5.99 | 8.36 | 0.05 | -6.00 |
| Free Cash Flow | 8.02B | 7.26B | 3.68B | 4.33B | 5.25B | 2.37B |
| Free Cash Flow Per Share | 7.64 | 6.80 | 3.36 | 3.94 | 4.77 | 2.16 |
| Dividend Per Share | 1.77 | 1.44 | 1.12 | 0.32 | 0.32 | 0.32 |
| Gross Margin | 30.06% | 31.50% | 30.99% | 26.97% | 26.00% | 19.95% |
| Operating Margin | 19.68% | 20.68% | 20.04% | 17.67% | 13.66% | -0.12% |
| Profit Margin | 17.31% | 18.98% | 16.94% | 25.99% | 0.18% | -11.66% |
| Free Cash Flow Margin | 15.25% | 15.84% | 9.50% | 12.24% | 18.03% | 4.19% |
| EBITDA | 11.62B | 10.70B | 8.94B | 7.42B | 5.17B | 2.29B |
| EBITDA Margin | 22.09% | 23.34% | 23.10% | 21.00% | 17.72% | 4.06% |
| D&A For EBITDA | 1.27B | 1.22B | 1.18B | 1.18B | 1.18B | 2.36B |
| EBIT | 10.35B | 9.48B | 7.76B | 6.25B | 3.98B | -70.00M |
| EBIT Margin | 19.68% | 20.68% | 20.04% | 17.67% | 13.66% | -0.12% |
| Effective Tax Rate | 13.46% | 14.05% | 12.62% | 9.52% | 11.11% | |
| Revenue as Reported | 52.58B | 45.85B | 38.70B | 35.35B | 29.14B | 56.47B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 8.26B | 11.99B | 13.62B | 15.20B | 15.81B | 15.77B |
| Short-Term Investments | 1.50B | 982.00M | 5.71B | 7.61B | 12.30B | |
| Cash & Short-Term Investments | 9.80B | 11.99B | 14.60B | 20.91B | 23.42B | 28.07B |
| Accounts Receivable | 16.29B | 14.01B | 11.37B | 10.39B | 14.83B | 18.05B |
| Other Receivables | 1.01B | 881.00M | 862.00M | 1.25B | 2.24B | 2.28B |
| Receivables | 17.30B | 14.89B | 12.24B | 11.64B | 17.06B | 20.33B |
| Inventory | 12.74B | 11.87B | 9.76B | 8.28B | 14.89B | 15.85B |
| Prepaid Expenses | 313.00M | 341.00M | ||||
| Restricted Cash | 500.00M | 400.00M | 76.00M | |||
| Other Current Assets | 1.18B | 1.45B | 1.03B | 1.72B | 2.70B | 1.69B |
| Total Current Assets | 41.53B | 40.60B | 37.63B | 42.56B | 58.38B | 66.35B |
| Property, Plant & Equipment | 8.33B | 7.99B | 7.28B | 7.25B | 12.19B | 15.61B |
| Long-Term Investments | 38.06B | 45.90B | 43.99B | 43.59B | 43.66B | 50.05B |
| Goodwill | 8.97B | 9.06B | 8.54B | 8.95B | 13.00B | 26.18B |
| Other Intangible Assets | 4.03B | 4.22B | 4.26B | 4.64B | 6.11B | 9.33B |
| Long-Term Deferred Tax Assets | 6.78B | 7.46B | 7.11B | 7.50B | 10.00B | 10.86B |
| Long-Term Deferred Charges | 2.41B | 2.42B | 2.44B | 2.44B | 2.53B | 2.55B |
| Other Long-Term Assets | 17.08B | 12.52B | 11.90B | 56.37B | 42.98B | 17.95B |
| Total Assets | 127.19B | 130.17B | 123.14B | 173.30B | 188.85B | 198.87B |
| Accounts Payable | 6.08B | 5.73B | 4.56B | 5.29B | 10.03B | 16.24B |
| Accrued Expenses | 5.60B | 4.04B | 3.48B | 3.74B | 9.75B | 6.96B |
| Short-Term Debt | 480.00M | 25.00M | 37.00M | 114.00M | 97.00M | |
| Current Portion of Long-Term Debt | 1.89B | 1.66B | 2.04B | 1.07B | 3.62B | 2.89B |
| Current Portion of Leases | 296.00M | 280.00M | 283.00M | 308.00M | ||
| Finance Div. Debt Current | 1.37B | |||||
| Current Income Taxes Payable | 578.00M | 500.00M | ||||
| Current Unearned Revenue | 18.54B | 18.00B | 16.05B | 14.50B | 16.22B | 17.37B |
| Other Current Liabilities | 9.50B | 9.25B | 7.98B | 7.16B | 9.11B | 6.52B |
| Total Current Liabilities | 42.40B | 38.98B | 34.39B | 32.10B | 49.43B | 51.95B |
| Long-Term Debt | 17.10B | 18.81B | 17.23B | 19.42B | 20.32B | 17.55B |
| Finance Div. Debt Long-Term | 13.27B | |||||
| Finance Div. Other Long-Term Liabilities | 34.12B | 36.89B | 36.21B | 39.58B | 36.84B | 37.17B |
| Long-Term Leases | 825.00M | 783.00M | 822.00M | 931.00M | 2.09B | 2.85B |
| Long-Term Unearned Revenue | 976.00M | 1.06B | 1.01B | 975.00M | 1.41B | 1.99B |
| Other Long-Term Liabilities | 14.03B | 14.74B | 13.90B | 51.69B | 43.85B | 32.48B |
| Total Liabilities | 109.44B | 111.27B | 103.58B | 144.69B | 153.94B | 157.26B |
| Common Stock | 15.00M | 15.00M | 15.00M | 15.00M | 15.00M | 15.00M |
| Retained Earnings | 92.75B | 87.66B | 80.49B | 86.55B | 82.98B | 85.11B |
| Treasury Stock | -93.09B | -87.80B | -81.57B | -79.98B | -81.21B | -81.09B |
| Comprehensive Income & Other | 17.84B | 18.80B | 20.41B | 20.81B | 31.90B | 36.27B |
| Total Common Equity | 17.52B | 18.68B | 19.34B | 27.40B | 33.69B | 40.30B |
| Minority Interest | 228.00M | 221.00M | 223.00M | 1.20B | 1.22B | 1.30B |
| Shareholders' Equity | 17.75B | 18.90B | 19.57B | 28.61B | 34.91B | 41.61B |
| Total Liabilities & Equity | 127.19B | 130.17B | 123.14B | 173.30B | 188.85B | 198.87B |
| Total Debt | 20.59B | 21.56B | 20.38B | 21.76B | 26.15B | 38.03B |
| Net Cash (Debt) | -10.79B | -9.56B | -5.78B | -854.00M | -2.73B | -9.97B |
| Net Cash Per Share | -10.27 | -8.96 | -5.28 | -0.78 | -2.48 | -9.08 |
| Filing Date Shares Outstanding | 1.03B | 1.05B | 1.07B | 1.09B | 1.09B | 1.10B |
| Total Common Shares Outstanding | 1.03B | 1.05B | 1.07B | 1.09B | 1.09B | 1.10B |
| Working Capital | -867.00M | 1.62B | 3.24B | 10.45B | 8.96B | 14.39B |
| Book Value Per Share | 16.96 | 17.81 | 18.01 | 25.18 | 30.93 | 36.67 |
| Tangible Book Value | 4.53B | 5.39B | 6.55B | 13.81B | 14.59B | 4.79B |
| Tangible Book Value Per Share | 4.38 | 5.14 | 6.10 | 12.69 | 13.39 | 4.36 |
| Land | 139.00M | 131.00M | 128.00M | 472.00M | 585.00M | |
| Buildings | 3.29B | 3.15B | 3.06B | 6.02B | 8.31B | |
| Machinery | 12.76B | 11.53B | 11.16B | 18.58B | 21.04B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 9.10B | 8.70B | 6.56B | 9.48B | 336.00M | -6.34B |
| Depreciation & Amortization | 1.27B | 1.22B | 1.18B | 1.18B | 1.18B | 2.36B |
| Loss (Gain) From Sale of Assets | 170.00M | |||||
| Asset Writedown & Restructuring Costs | 251.00M | |||||
| Loss (Gain) From Sale of Investments | -37.00M | -292.00M | -546.00M | -5.68B | 56.00M | -1.63B |
| Loss (Gain) on Equity Investments | -287.00M | -216.00M | -173.00M | -169.00M | ||
| Other Operating Activities | -232.00M | -403.00M | -758.00M | -626.00M | 1.32B | 4.87B |
| Change in Accounts Receivable | -3.94B | -2.95B | -1.19B | -237.00M | -1.84B | 1.53B |
| Change in Inventory | -1.16B | -1.98B | -1.53B | -1.32B | -980.00M | -306.00M |
| Change in Accounts Payable | 1.41B | 1.99B | 688.00M | 713.00M | 1.64B | -390.00M |
| Change in Unearned Revenue | 1.72B | 1.90B | 1.60B | 1.47B | 2.26B | -1.11B |
| Change in Other Net Operating Assets | 1.57B | 562.00M | -266.00M | -203.00M | 47.00M | |
| Operating Cash Flow | 9.45B | 8.54B | 4.71B | 5.19B | 5.92B | 3.48B |
| Capital Expenditures | -1.43B | -1.27B | -1.03B | -862.00M | -662.00M | -1.11B |
| Sale of Property, Plant & Equipment | 226.00M | 123.00M | 114.00M | 60.00M | 153.00M | 151.00M |
| Cash Acquisitions | -1.00M | -360.00M | -135.00M | -41.00M | -30.00M | -69.00M |
| Divestitures | 5.75B | 9.00B | 4.73B | 26.50B | ||
| Investment in Securities | -459.00M | 425.00M | -963.00M | -986.00M | -876.00M | -1.29B |
| Other Investing Activities | -1.12B | -68.00M | -5.40B | -3.21B | -1.05B | -2.80B |
| Investing Cash Flow | -2.79B | -1.15B | -1.67B | 3.97B | 2.27B | 21.38B |
| Short-Term Debt Issued | 25.00M | 2.00M | 42.00M | |||
| Long-Term Debt Issued | 1.99B | 359.00M | ||||
| Total Debt Issued | 475.00M | 2.01B | 2.00M | 42.00M | 359.00M | |
| Short-Term Debt Repaid | -71.00M | -704.00M | ||||
| Long-Term Debt Repaid | -1.81B | -788.00M | -3.28B | -11.09B | -36.51B | |
| Total Debt Repaid | -1.78B | -1.81B | -788.00M | -3.35B | -11.09B | -37.21B |
| Net Debt Issued (Repaid) | -1.31B | 199.00M | -786.00M | -3.35B | -11.05B | -36.85B |
| Repurchase of Common Stock | -8.50B | -7.55B | -5.83B | -1.23B | -1.05B | -107.00M |
| Common Dividends Paid | -1.74B | -1.45B | -1.01B | |||
| Dividends Paid | -1.74B | -1.45B | -1.01B | -589.00M | -639.00M | -575.00M |
| Other Financing Activities | 229.00M | 122.00M | 895.00M | 2.36B | 7.29B | -7.86B |
| Financing Cash Flow | -11.32B | -8.68B | -6.73B | -8.61B | -5.58B | -45.40B |
| Foreign Exchange Rate Adjustments | -67.00M | 201.00M | -193.00M | 120.00M | -369.00M | -213.00M |
| Miscellaneous Cash Flow Adjustments | -2.00M | -1.00M | -1.00M | 1.00M | ||
| Net Cash Flow | -4.73B | -1.10B | -3.88B | 663.00M | 2.23B | -20.75B |
| Free Cash Flow | 8.02B | 7.26B | 3.68B | 4.33B | 5.25B | 2.37B |
| Free Cash Flow Margin | 15.25% | 15.84% | 9.50% | 12.24% | 18.03% | 4.19% |
| Free Cash Flow Per Share | 7.64 | 6.80 | 3.36 | 3.94 | 4.77 | 2.16 |
| Levered Free Cash Flow | 6.33B | 5.21B | 4.82B | 2.12B | 2.36B | 1.39B |
| Unlevered Free Cash Flow | 6.91B | 5.74B | 5.43B | 2.76B | 3.19B | 2.51B |
| Cash Interest Paid | 882.00M | 882.00M | 969.00M | 1.07B | 1.56B | 2.54B |
| Cash Income Tax Paid | 586.00M | 739.00M | 334.00M | 1.04B | 547.00M | 373.00M |
| Change in Working Capital | -390.00M | -470.00M | -697.00M | 420.00M | 1.13B | -278.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 320.86B | 324.91B | 180.52B | 138.91B | 91.55B | 103.70B |
| Enterprise Value | 331.64B | 333.94B | 186.24B | 144.79B | 109.56B | 150.28B |
| Last Close Price | 301.80 | 306.73 | 165.15 | 100.13 | 51.14 | 57.41 |
| PE Ratio | 35.83 | 37.33 | 27.53 | 15.12 | 1,795.19 | |
| Forward PE | 34.98 | 45.01 | 34.29 | 32.58 | 20.93 | 28.97 |
| PS Ratio | 5.93 | 7.09 | 4.66 | 3.93 | 3.14 | 1.84 |
| PB Ratio | 17.80 | 17.19 | 9.23 | 4.86 | 2.62 | 2.49 |
| P/TBV Ratio | 68.92 | 60.26 | 27.57 | 10.06 | 6.28 | 21.64 |
| P/FCF Ratio | 38.90 | 44.73 | 49.08 | 32.10 | 17.42 | 43.79 |
| P/OCF Ratio | 33.00 | 38.06 | 38.33 | 26.77 | 15.47 | 29.79 |
| PEG Ratio | 2.17 | 2.39 | 1.09 | 1.33 | 0.62 | 5.79 |
| EV/Sales Ratio | 6.14 | 7.28 | 4.81 | 4.10 | 3.76 | 2.66 |
| EV/EBITDA Ratio | 27.78 | 31.20 | 20.83 | 19.50 | 21.21 | 65.63 |
| EV/EBIT Ratio | 31.18 | 35.21 | 24.01 | 23.18 | 27.52 | |
| EV/FCF Ratio | 40.24 | 45.97 | 50.64 | 33.46 | 20.85 | 63.46 |
| Debt / Equity Ratio | 1.16 | 1.14 | 1.04 | 0.76 | 0.75 | 0.91 |
| Debt / EBITDA Ratio | 1.72 | 1.94 | 2.16 | 2.74 | 4.59 | 11.97 |
| Debt / FCF Ratio | 2.57 | 2.97 | 5.54 | 5.03 | 4.98 | 16.06 |
| Net Debt / Equity Ratio | 0.61 | 0.51 | 0.29 | 0.03 | 0.08 | 0.24 |
| Net Debt / EBITDA Ratio | 0.93 | 0.89 | 0.65 | 0.12 | 0.53 | 4.35 |
| Net Debt / FCF Ratio | 1.34 | 1.32 | 1.57 | 0.20 | 0.52 | 4.21 |
| Asset Turnover | 0.41 | 0.36 | 0.26 | 0.20 | 0.15 | 0.25 |
| Inventory Turnover | 2.79 | 2.68 | 2.69 | 1.98 | 1.23 | 2.71 |
| Quick Ratio | 0.64 | 0.69 | 0.78 | 1.01 | 0.82 | 0.93 |
| Current Ratio | 0.98 | 1.04 | 1.09 | 1.33 | 1.18 | 1.28 |
| Return on Equity (ROE) | 50.17% | 44.69% | 27.64% | 29.75% | 3.53% | -12.55% |
| Return on Assets (ROA) | 5.06% | 4.68% | 3.27% | 2.16% | 1.28% | -0.02% |
| Return on Invested Capital (ROIC) | 31.60% | 30.30% | 24.74% | 16.84% | 7.93% | -0.11% |
| Return on Capital Employed (ROCE) | 12.20% | 10.40% | 8.70% | 4.40% | 2.90% | 0.00% |
| Earnings Yield | 2.79% | 2.68% | 3.63% | 6.83% | 0.37% | -6.11% |
| FCF Yield | 2.57% | 2.24% | 2.04% | 3.12% | 5.74% | 2.28% |
| Dividend Yield | 0.60% | 0.46% | 0.67% | 0.25% | 0.38% | 0.34% |
| Payout Ratio | 20.43% | 16.68% | 15.38% | 6.21% | 190.18% | |
| Buyback Yield / Dilution | 2.21% | 2.38% | 0.46% | 0.18% | -0.27% | -0.27% |
| Total Shareholder Return | 2.83% | 2.84% | 1.12% | 0.43% | 0.11% | 0.07% |