GE Aerospace (GE) financials

NYSE · Industrials · Aerospace & Defense · 57,000 employees · CEO H. Lawrence Culp Jr.

Price: $301.80 -3.59%
Market cap: $313B
Enterprise value: $324B
Last report: Q3 '26 filed 2026-10-20
Next report: 2027-01-21 EPS est. $2.03

Revenue (TTM)$52.6B+19.5% vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)19.2%-2.4 pp vs a year agoOperating income $10.1B

Net income (TTM)$9.1B+12.9% vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)$8.02B+24.4% vs a year agoCapex $1.43B

Diluted EPS (TTM)$8.66+15.3% vs a year agoSum of the last 4 quarters

Net cash-$10.6B-14.7% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: $313B
Revenue: $52.6B
Revenue growth: +11%
Profit margin: 17.3%
P/E: 34.7×
P/S: 6.0×
EV / EBITDA: 25.2×
Free cash flow: $8.02B
Net income: $9.1B
Revenue estimate: $50.7B
Earnings: 2027-01-21
Dividend: $1.66

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

Last report (2026-10-20): revenue beat by 9.6%, EPS beat by 11.9%Revenue $14.1B vs $12.9B expected (+9.6%); EPS $2.25 vs $2.01 (+11.9%).
Revenue growth slowing: 15.5% year on yearQ3 '26 revenue $14.1B, against an average of 21.9% over the four quarters before.
Operating margin 19.2% (TTM), -2.4 pp on a year agoOperating income grew 6.4% while revenue grew 19.5%.
Capex 2.7% of revenue (a year ago 2.5%)$1.43B invested in the last 4 quarters (+29.2% on a year earlier). Free cash flow $8.02B = 88.1% of net income.
Returned $10.2B to shareholders = 127.8% of free cash flowBuybacks $8.5B (a year earlier $7.22B), dividends $1.74B, stock-based pay $0 (TTM). More than the free cash flow: paid from cash or debt.
Diluted share count down 2.4% in a year1.04B diluted shares in Q3 '26, 1.07B a year earlier.
Net debt $10.6BCash + short-term investments $8.76B, debt incl. leases $19.3B; a year ago net debt $9.21B.

Last quarter: Q3 '26

Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

	Q3 '26	Year ago	Change
Revenue	$14.1B	$12.2B	+15.5%
Gross margin	35.6%	36.5%	-0.9 pp
Operating income	$2.37B	$2.8B	-15.1%
Operating margin	16.8%	22.9%	-6.1 pp
Net income	$2.29B	$2.16B	+6.1%
Diluted EPS	$2.20	$2.02	+8.8%
Operating cash flow	$2.15B	$2.5B	-14.0%
Capex	$336M	$307M	+9.4%
Free cash flow	$1.82B	$2.19B	-17.2%
R&D	$458M	$415M	+10.4%
Stock-based compensation	$0	$0	–

Reported vs consensus

2026-10-20

	Actual	Consensus	vs consensus
Revenue	$14.1B	$12.9B	+9.6%
EPS (as estimated)	$2.25	$2.01	+11.9%

From the report of 2026-10-20 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.

EPS vs consensus

last 8 reports

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Revenue by business line

stacked, quarterly

Segment	Q1 '25	y/y	Share	TTM	TTM y/y
Service	$6.35B	-31.3%	63.9%	$22B	–
Product	$2.65B	-55.3%	26.7%	$6.99B	–
Insurance Revenue	$934M	+6.3%	9.4%	$3.64B	–

Segment profits

Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).

Segments in Q3 '26

Segment	Revenue	y/y	Operating income	y/y	Margin	Margin a year ago	TTM operating income
Commercial Engines And Services Reportable Segment	–	–	$2.89B	+21.1%	–	–	$10.3B
Defense And Propulsion Technologies Reportable Segment	–	–	$475M	+8.0%	–	–	$1.46B
Corporate And Reconciling Items	–	–	-$511M	-83.2%	–	–	-$878M

Operating income by segment

quarterly

Segment operating margin

quarterly

Fourth quarters are derived: the 10-K reports the full year, minus the three quarters of the 10-Qs.

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement

Operating cash flow: $9.45B
Capex: -$1.43B
Buybacks: -$8.5B
Dividends: -$1.74B
Acquisitions: -$1M
Net debt issued: -$1.31B
Stock-based compensation: $0
Free cash flow: $8.02B
Returned to shareholders / FCF: 127.8%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years

	Now	5y average	Where today sits in the 5-year range
P/E (TTM)	34.7×	497.9× 4 of 5 years	15.1× – 1,911.3×
EV / EBITDA	25.2×	21.0× 4 of 5 years	11.5× – 27.9×
EV / Sales	6.2×	4.4×	2.2× – 7.3×
Price / FCF	39.1×	39.3×	19.3× – 49.2×
Price / Book	17.8×	7.5×	2.6× – 17.6×
FCF yield	2.6%	2.9%	2.0% – 5.2%
Return on invested capital	10.0%	4.0%	0.6% – 8.1%
Return on equity	50.6%	20.1%	-15.7% – 46.6%

Analysts

Consensus target $385.00 (+27.6%)
range $350.00 – $425.00 · rating Buy

Strong buy0

Buy24

Hold11

Sell1

Strong sell0

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal year	Revenue	Growth	EPS	Growth	P/E at today's price	Analysts (EPS)
FY2026	$50.7B	+10.6%	$8.17	+0.1%	37.0×	13
FY2027	$56.6B	+11.7%	$9.32	+14.1%	32.4×	10
FY2028	$61.9B	+9.3%	$10.66	+14.4%	28.3×	11
FY2029	$66.8B	+7.9%	$11.97	+12.3%	25.2×	4
FY2030	$72.5B	+8.6%	$13.45	+12.4%	22.4×	4

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Every reported line

All 339 figures GE Aerospace tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).

Line (SEC label)	Latest quarter	Year ago	y/y	Latest FY	Prior FY	y/y
Accounts Payable, Current	$11B	$9.49B	+15.8%	$10.1B	$7.91B	+27.4%
Accounts Payable, Trade, Current	$6.08B	$7.4B	-17.8%	$5.73B	$4.57B	+25.6%
Accounts Receivable, Allowance for Credit Loss, Current	$105M	$86M	+22.1%	$94M	$106M	-11.3%
Accounts Receivable, Allowance for Credit Loss, Noncurrent	$11M	$112M	-90.2%	$96M	$85M	+12.9%
Accounts Receivable, before Allowance for Credit Loss, Current	$11.1B	$8.51B	+31.0%	$9.27B	$7.39B	+25.5%
Accounts Receivable, before Allowance for Credit Loss, Noncurrent	$20M	$137M	-85.4%	$173M	$122M	+41.8%
Accrual for Environmental Loss Contingency, Undiscounted, to be Paid, Year One	$250M2025-12-31	$225M	+11.1%	$250M	$225M	+11.1%
Accrual for Environmental Loss Contingency, Undiscounted, to be Paid, Year Two	$250M2025-12-31	$225M	+11.1%	$250M	$225M	+11.1%
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$11B	$10.3B	+7.0%	$452M2012-12-31	$445M	+1.6%
Accumulated Other Comprehensive Income (Loss), Net of Tax	-$5.06B	-$4.35B	-16.3%	-$4.8B	-$3.86B	-24.3%
Additional Paid in Capital	$22.9B	$23.6B	-3.1%	$23.6B	$24.3B	-2.7%
Advances on Inventory Purchases	$751M	$730M	+2.9%	$867M	$546M	+58.8%
Amortization of Intangible Assets	$109M	$88M	+23.9%	$357M	$350M	+2.0%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1M	1M	0.0%	1M	6M	-83.3%
Assets	$127B	$128B	-0.8%	$130B	$123B	+5.7%
Assets Held by Insurance Regulators	$800M2025-12-31	$700M	+14.3%	$800M	$700M	+14.3%
Assets, Current	$41.5B	$40.1B	+3.6%	$40.6B	$37.6B	+7.9%
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	$0	-$9M	+100.0%	$46M	-$30M	+253.3%
Cash Provided by (Used in) Financing Activities, Discontinued Operations	$0	$0	–	$0	-$98M	+100.0%
Cash Provided by (Used in) Investing Activities, Discontinued Operations	-$59M	-$213M	+72.3%	-$377M	-$1.11B	+66.0%
Cash Provided by (Used in) Operating Activities, Discontinued Operations	-$51M	-$55M	+7.3%	-$6M	-$1.11B	+99.5%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$8.76B	$12.5B	-29.9%	$12.4B	$13.6B	-9.0%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	$10.3B	$15B	-31.5%	$14.8B	$15.9B	-6.9%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	-$1.08B	$1.53B	-170.8%	-$1.1B	-$3.88B	+71.7%
Commercial Paper	$480M	–	–	–	–	–
Common Stock, Dividends, Per Share, Declared	$0.47	$0.36	+30.6%	$1.44	$1.12	+28.6%
Common Stock, Par or Stated Value Per Share	$0.012025-12-31	$0.01	0.0%	$0.01	$0.01	0.0%
Common Stock, Shares Authorized	1.65B2025-12-31	1.65B	0.0%	1.65B	1.65B	0.0%
Common Stock, Shares, Issued	1.46B2025-12-31	1.46B	0.0%	1.46B	1.46B	0.0%
Common Stock, Shares, Outstanding	1.03B	1.05B	-2.0%	1.05B	1.07B	-2.3%
Common Stock, Value, Issued	$15M	$15M	0.0%	$15M	$15M	0.0%
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	$8M	-$3M	+366.7%	-$6M	-$7M	+14.3%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$2.18B	$1.83B	+18.9%	$7.77B	$8.85B	-12.2%
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	$2.19B	$1.83B	+19.6%	$7.76B	$8.84B	-12.2%
Contract with Customer, Asset, after Allowance for Credit Loss, Current	$3.53B	$3.11B	+13.4%	$3.51B	$2.98B	+17.7%
Contract with Customer, Liability, Change in Timeframe, Performance Obligation Satisfied, Revenue Recognized	$265M	-$43M	+716.3%	$966M	$519M	+86.1%
Contract with Customer, Liability, Current	$10.3B	$9.85B	+5.0%	$10.3B	$9.35B	+10.5%
Contract with Customer, Liability, Noncurrent	$976M	$1.08B	-9.7%	$1.07B	$1.01B	+5.1%
Contract with Customer, Liability, Revenue Recognized	$2.45B	$1.99B	+23.2%	$7.78B	$6.34B	+22.8%
Costs and Expenses	$11.7B	$9.95B	+18.0%	$37.3B	$33.3B	+12.0%
Current Federal Tax Expense (Benefit)	–	–	–	$671M	$310M	+116.5%
Current Foreign Tax Expense (Benefit)	–	–	–	$709M	$423M	+67.6%
Current State and Local Tax Expense (Benefit)	–	–	–	-$72M	$48M	-250.0%
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss, Current	$508M	$497M	+2.2%	$473M	$473M	0.0%
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	$190M	$1.04B	-81.8%	$985M	$641M	+53.7%
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	$4.62B	$2.54B	+81.9%	$2.62B	$3.15B	-16.8%
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 10	$24.9B	$24.3B	+2.4%	$24.8B	$25B	-1.1%
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10	$5.7B	$5.38B	+5.9%	$5.27B	$5.16B	+2.1%
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five	$2.83B	$3.65B	-22.3%	$3.46B	$4B	-13.6%
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One	$665M	$748M	-11.1%	$843M	$814M	+3.6%
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	$12.6B	$15.4B	-18.2%	$14.7B	$14B	+4.6%
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$3.69B	$2.46B	+49.7%	$2.53B	$2.8B	-9.7%
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10	$20.7B	$22.6B	-8.0%	$22.8B	$22.6B	+1.1%
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10	$5.56B	$5.6B	-0.7%	$5.5B	$5.16B	+6.6%
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five	$2.84B	$3.75B	-24.1%	$3.56B	$4.07B	-12.4%
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One	$664M	$749M	-11.3%	$847M	$814M	+4.1%
Debt Securities, Available-for-sale, Realized Gain	$11M	$11M	0.0%	$35M	$75M	-53.3%
Debt Securities, Available-for-sale, Realized Loss	$15M	$12M	+25.0%	$76M	$66M	+15.2%
Debt Securities, Available-for-sale, Unrealized Loss Position	$27.3B	$18.1B	+51.1%	$18.5B	$21.9B	-15.5%
Debt, Current	$2.34B	$2.07B	+13.0%	$1.69B	$2.04B	-17.3%

Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.

Sources

Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30

Data as of 2026-11-01