A Business at a Glance
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GENERAL ELECTRIC CO
GE
$378.2B
Mkt Cap
$353.73
+1.36%
GENERAL ELECTRIC CO (GE) has a current P/E ratio of 43.5, compared to its historical median P/E of 28.2. The stock is currently considered Expensive based on its historical valuation range.
GENERAL ELECTRIC CO (GE) has a 5-year average return on invested capital (ROIC) of 16.1%. This indicates strong capital allocation and a potential competitive advantage.
GENERAL ELECTRIC CO (GE) has a market capitalization of $369.1B. It is classified as a mega-cap stock.
Yes, GENERAL ELECTRIC CO (GE) pays a dividend with a trailing twelve-month yield of 0.41%. The company also returns capital through share buybacks, with a buyback yield of 2.16%.
Based on historical P/E analysis, GENERAL ELECTRIC CO (GE) appears expensive. The current P/E of 43.5 is 54% above its historical median of 28.2. The estimated fair value CAGR (P/E method) is 43.6%.
GENERAL ELECTRIC CO (GE) operates in the Electronic & Other Electrical Equipment (No Computer Equip) industry, within the Industrials sector.
GENERAL ELECTRIC CO (GE) reported annual revenue of $45.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
GE Aerospace is a global aerospace leader with an installed base of approximately 50,000 commercial and 30,000 military engines that generates roughly 70% of revenue from aftermarket services, reflecting strong customer demand. The company operates through two segments: Commercial Engines & Services (CES, 73% of revenue), which designs, manufactures and services jet engines for commercial airframes, business aviation and aeroderivative applications through long-term service agreements and spare parts contracts; and Defense & Propulsion Technologies (DPT, 23% of revenue), which provides defense engines, avionics, power systems and aircraft components for governments and militaries. CES serves airframers including Boeing and Airbus, airlines, and third-party MRO shops, with significant exposure to the CFM International joint venture (50-50 with Safran) and engines across narrowbody, widebody and regional categories. DPT includes Defense & Systems, which manufactures combat engines and advanced propulsion systems, and Propulsion & Additive Technologies, which produces turboprop engines, transmissions, propellers and additive manufacturing components under brands including Avio Aero, Unison, Dowty Propellers and Colibrium. The company operates 70 facilities in the United States and 62 facilities across 23 other countries, serving customers in approximately 120 countries, with a proprietary lean operating model called FLIGHT DECK that prioritizes safety, quality, delivery and cost to drive execution.
【Strong services momentum continuing】 Management expects commercial services revenue to grow mid-teens in 2026, supported by robust backlog of over $170 billion and strong demand for shop visits and spare parts as the LEAP installed base continues to expand. The company is investing substantially to expand MRO capacity globally, with internal LEAP capacity expected to roughly double by the end of the decade, and external shop visits projected to grow from 15% of total LEAP shop visits in 2025 to 30% by 2030. LEAP profitability is expected to reach overall CES service margins by 2028, reflecting improvements in durability, repair certifications and cost reduction initiatives. Defense & Propulsion Technologies is expected to deliver mid to high single-digit revenue growth in 2026, with continued margin expansion opportunities supported by strong backlog of $21 billion and improved operational execution through FLIGHT DECK. The company expects to generate substantial free cash flow of $8 billion to $8.4 billion in 2026, with conversion remaining well above 100%, and is committed to reinvesting in U.S. manufacturing to support both commercial and defense customers.
| Metric | Target | Period |
|---|---|---|
| Revenue | low double digits | FY2026 |
| Operating profit | $9.85 billion-$10.25 billion | FY2026 |
| EPS | $7.10-$7.40 | FY2026 |
| Free cash flow | $8 billion-$8.4 billion | FY2026 |
| CES Revenue | mid-teens | FY2026 |
| CES Profit | $9.6 billion-$9.9 billion | FY2026 |
| DPT Revenue | mid to high single-digit | FY2026 |
| DPT Profit | $1.55 billion-$1.65 billion | FY2026 |
Revenue (FY2026): “This supports our expectation for revenue to be up low double digits, including commercial services up mid-teens.”
Operating profit (FY2026): “We expect operating profit of $9.85 billion-$10.25 billion, up $1 billion at the midpoint.”
EPS (FY2026): “This translates to EPS of $7.10-$7.40, up nearly 15% at the midpoint.”
Free cash flow (FY2026): “We expect to generate $8 billion-$8.4 billion of free cash flow, with conversion remaining well above 100%.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 48.3B | 45.9B | 38.7B | 35.3B | 29.1B | 56.5B |
| Net Income | 8.6B | 8.7B | 6.6B | 9.2B | 336M | -6.6B |
| EPS | $8.21 | $8.14 | $5.99 | $8.36 | $0.31 | $-6.00 |
| Free Cash Flow | 7.5B | 7.3B | 3.7B | 4.3B | 4.5B | 2.2B |
| ROIC | 0.0% | 41.9% | 28.8% | - | 1.0% | -7.4% |
| Gross Margin | - | 32.9% | 31.1% | 27.2% | 20.8% | 5.5% |
| Debt/Equity | 1.12 | 1.16 | 1.05 | 0.79 | 0.78 | 0.93 |
| Dividends/Share | $1.47 | $1.44 | $1.12 | $0.54 | $0.59 | $0.52 |
| Operating Income | 0 | 10.2B | 7.7B | - | 541M | -7.3B |
| Operating Margin | 0.0% | 22.1% | 19.8% | - | 1.9% | -13.0% |
| ROE | 47.8% | 45.8% | 28.1% | 30.1% | 0.9% | -17.3% |
| Shares Outstanding | 1,043M | 1,069M | 1,094M | 1,099M | 1,089M | 1,096M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 117.2B | 117.4B | 119.5B | 99.3B | 97.0B | 90.2B | 75.8B | 56.5B | 29.1B | 35.3B | 38.7B | 45.9B | 48.3B |
| Gross Margin | 47.7% | 49.0% | 47.7% | 35.2% | 24.9% | 25.8% | 20.3% | 5.5% | 20.8% | 27.2% | 31.1% | 32.9% | N/A |
| R&D | 5.3B | 5.3B | 5.4B | 5.5B | 3.4B | 3.1B | 2.6B | 1.7B | 808M | 1.0B | 1.3B | 1.6B | 1.7B |
| SG&A | 16.8B | 17.8B | 17.8B | 14.3B | 14.6B | 13.8B | 12.6B | 8.2B | 3.7B | 4.0B | 4.4B | 4.1B | 4.3B |
| EBIT | 16.1B | 388M | 5.8B | -11.6B | -22.6B | -4.8B | 4.8B | -7.3B | 541M | N/A | 7.7B | 10.2B | 0 |
| Op. Margin | 13.7% | 0.3% | 4.9% | -11.7% | -23.3% | -5.3% | 6.3% | -13.0% | 1.9% | N/A | 19.8% | 22.1% | 0.0% |
| Net Income | 15.2B | -6.1B | 6.8B | -8.9B | -22.8B | -5.4B | 5.2B | -6.6B | 336M | 9.2B | 6.6B | 8.7B | 8.6B |
| Net Margin | 13.0% | -5.2% | 5.7% | -9.0% | -23.5% | -6.0% | 6.9% | -11.6% | 1.2% | 26.0% | 16.9% | 19.0% | 17.9% |
| Non-Recurring | 127M | 90M | 3.7B | 3.6B | 23.7B | 1.5B | 14.2B | 498M | 517M | 298M | 1.2B | 90M | -62M |
| Returns on Capital | |||||||||||||
| ROIC | 4.6% | 0.1% | 3.1% | -5.2% | -16.0% | -5.0% | 6.0% | -7.4% | 1.0% | N/A | 28.8% | 41.9% | 0.0% |
| ROE | 11.8% | -5.4% | 8.1% | -14.1% | -52.4% | -18.3% | 16.4% | -17.3% | 0.9% | 30.1% | 28.1% | 45.8% | 47.8% |
| ROA | 2.3% | -1.1% | 1.6% | -2.4% | -6.7% | -1.9% | 2.0% | -2.9% | 0.2% | 5.1% | 4.4% | 6.9% | 6.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 27.7B | 19.9B | 1.2B | 6.6B | 5.0B | 8.7B | 3.6B | 3.5B | 5.9B | 5.2B | 4.7B | 8.5B | 8.9B |
| Free Cash Flow | 20.6B | 12.6B | -6.0B | -88M | -1.6B | 6.5B | 2.0B | 2.2B | 4.5B | 4.3B | 3.7B | 7.3B | 7.5B |
| Owner Earnings | 21.1B | 12.8B | -6.3B | -1.2B | -3.6B | 2.8B | -2.8B | 1.6B | 4.9B | 4.2B | 3.6B | 7.3B | 6.9B |
| CapEx | 7.1B | 7.3B | 7.2B | 6.6B | 6.6B | 2.2B | 1.6B | 1.3B | 1.4B | 862M | 1.0B | 1.3B | 1.4B |
| Maint. CapEx | 6.4B | 6.5B | 7.1B | 7.4B | 8.2B | 5.5B | 6.0B | 1.6B | 846M | 797M | 834M | 863M | 1.7B |
| Growth CapEx | 713M | 801M | 126M | 0 | 0 | 0 | 0 | 0 | 525M | 65M | 198M | 410M | 0 |
| D&A | 6.4B | 6.5B | 7.1B | 7.4B | 8.2B | 5.5B | 6.0B | 1.6B | 846M | 797M | 834M | 863M | 1.7B |
| CapEx/OCF | 25.7% | 36.7% | 620.6% | 122.2% | 133.1% | 66.3% | 44.3% | 37.5% | 19.8% | 16.6% | 21.9% | 14.9% | 15.8% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 8.9B | 9.3B | 8.8B | 8.7B | 4.5B | 649M | 648M | 575M | 639M | 589M | 1.0B | 1.5B | 1.5B |
| Dividend Yield | 6.7% | 6.7% | 5.9% | 6.9% | 7.0% | 1.3% | 11.5% | 0.8% | 1.2% | 0.7% | 0.6% | 0.6% | 0.4% |
| Share Buybacks | 2.2B | 2.7B | 22.6B | 0 | 0 | 0 | 28M | 107M | 1.0B | 1.2B | 5.8B | 7.6B | 8.0B |
| Buyback Yield | 1.0% | 1.0% | 8.5% | N/A | N/A | N/A | 0.0% | 0.1% | 1.5% | 1.1% | 3.2% | 2.2% | 2.2% |
| Stock-Based Comp | 147M | 628M | 427M | 329M | 336M | 400M | 353M | 305M | 143M | 192M | 286M | 325M | 325M |
| Debt Repayment | 6.4B | 24.5B | 1.1B | 1.7B | 4.3B | 280M | 4.2B | 704M | 42M | 71M | 2.0M | 25M | 25M |
| Balance Sheet | |||||||||||||
| Net Debt | 178.1B | 124.0B | 87.7B | 89.3B | 70.6B | 58.2B | 40.3B | 17.3B | 6.3B | 1.3B | -373M | 5.1B | 9.3B |
| Cash & Equiv. | 91.0B | 70.5B | 48.1B | 43.3B | 31.1B | 35.8B | 36.5B | 15.8B | 15.8B | 15.2B | 13.6B | 12.4B | 11.0B |
| Long-Term Debt | 186.6B | 144.7B | 105.1B | 108.6B | 88.9B | 67.2B | 70.2B | 30.8B | 20.3B | 19.4B | 17.2B | 18.8B | 18.2B |
| Debt/Equity | 2.10 | 1.98 | 1.94 | 2.37 | 3.28 | 3.32 | 2.33 | 0.93 | 0.78 | 0.79 | 1.05 | 1.16 | 1.12 |
| Interest Coverage | 236.4 | 8.1 | 55.4 | -81.0 | -177.8 | -51.5 | 159.1 | -430.2 | 15.0 | N/A | 55.9 | 236.1 | 236.1 |
| Equity | 128.2B | 98.3B | 70.2B | 56.0B | 31.0B | 28.3B | 35.6B | 40.3B | 33.7B | 27.4B | 19.3B | 18.7B | 18.1B |
| Total Assets | 653.9B | 493.1B | 359.1B | 369.2B | 311.1B | 265.2B | 256.2B | 198.9B | 188.9B | 173.3B | 123.1B | 130.2B | 128.4B |
| Total Liabilities | 518.0B | 390.0B | 284.7B | 292.4B | 259.6B | 235.3B | 219.1B | 157.3B | 153.9B | 144.7B | 103.6B | 111.3B | 110.1B |
| Intangibles | 13.2B | 17.8B | 16.4B | 20.3B | 12.2B | 10.7B | 9.7B | 9.3B | 6.1B | 4.6B | 4.3B | 4.2B | 4.2B |
| Retained Earnings | 155.3B | 140.0B | 139.5B | 117.2B | 93.1B | 87.7B | 92.2B | 85.1B | 83.0B | 86.6B | 80.5B | 87.7B | 89.1B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | 24.2B | 30.2B | 14.4B | 9.0B | 10.5B | 3.2B | 1.6B | 334M |
| Current Assets | N/A | N/A | N/A | N/A | N/A | 103.1B | 84.9B | 66.3B | 58.4B | 42.6B | 37.6B | 40.6B | 40.4B |
| Current Liabilities | N/A | 23.6B | 17.6B | 16.9B | 16.3B | 78.9B | 54.6B | 52.0B | 49.4B | 32.1B | 34.4B | 39.0B | 40.0B |
| Per Share Data | |||||||||||||
| EPS | 12.00 | -4.88 | 6.00 | -8.24 | -20.96 | -4.98 | 37.04 | -6.00 | 0.31 | 8.36 | 5.99 | 8.14 | 8.21 |
| Owner EPS | 16.65 | 10.13 | -5.56 | -1.11 | -3.29 | 2.55 | -19.53 | 1.42 | 4.52 | 3.82 | 3.28 | 6.87 | 6.59 |
| Book Value | 100.96 | 78.04 | 61.50 | 51.76 | 28.48 | 25.92 | 251.79 | 36.80 | 30.94 | 24.93 | 17.67 | 17.47 | 17.31 |
| Cash Flow/Share | 21.83 | 15.80 | 1.02 | 6.05 | 4.58 | 8.00 | 25.27 | 3.18 | 5.43 | 4.72 | 4.30 | 7.98 | 9.86 |
| Dividends/Share | 7.12 | 7.36 | 7.44 | 6.72 | 2.96 | 0.59 | 4.59 | 0.52 | 0.59 | 0.54 | 1.12 | 1.44 | 1.47 |
| Shares Out. | 1.3B | 1.3B | 1.1B | 1.1B | 1.1B | 1.1B | 141.2M | 1.1B | 1.1B | 1.1B | 1.1B | 1.1B | 1.0B |
| Valuation | |||||||||||||
| P/E Ratio | 14.7 | N/A | 32.4 | N/A | N/A | N/A | 17.9 | N/A | 203.8 | 12.1 | 28.2 | 38.6 | 43.1 |
| P/FCF | 6.5 | 13.1 | N/A | N/A | N/A | 9.1 | 3.7 | 28.5 | 12.0 | 25.7 | 50.3 | 46.3 | 49.5 |
| EV/EBIT | 15.1 | 40.3 | 22.9 | N/A | N/A | N/A | 25.7 | N/A | 75.1 | 11.0 | 22.6 | 31.5 | N/A |
| Price/Book | 1.7 | 2.8 | 3.5 | 2.4 | 2.0 | 3.4 | 2.6 | 2.0 | 2.0 | 4.1 | 9.6 | 18.0 | 20.4 |
| Price/Sales | 1.9 | 2.0 | 2.0 | 1.7 | 1.1 | 0.9 | 1.0 | 1.1 | 2.3 | 2.5 | 4.4 | 5.7 | 7.6 |
| FCF Yield | 9.2% | 4.6% | -2.3% | -0.1% | -2.7% | 6.8% | 2.1% | 2.8% | 6.6% | 3.9% | 2.0% | 2.2% | 2.0% |
| Market Cap | 223.3B | 274.7B | 265.0B | 136.0B | 60.8B | 95.2B | 93.9B | 79.9B | 68.5B | 111.0B | 184.8B | 336.1B | 369.1B |
| Avg. Price | 104.20 | 110.98 | 130.04 | 115.18 | 59.17 | 47.10 | 39.88 | 62.07 | 49.41 | 80.98 | 154.77 | 246.23 | 353.73 |
| Year-End Price | 105.37 | 130.67 | 138.24 | 78.26 | 34.81 | 54.12 | 51.76 | 58.14 | 50.22 | 101.02 | 168.87 | 314.32 | 353.73 |
GENERAL ELECTRIC CO passes 5 of 9 quality checks, suggesting mixed fundamentals.
GENERAL ELECTRIC CO trades at 43.5x trailing earnings, compared to its 15-year median P/E of 28.2x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 52.1x vs a median of 25.7x. The company's 5-year average ROIC is 16.1% with a gross margin of 23.5%. Total shareholder yield (dividends + buybacks) is 2.6%. At current prices, the estimated annualized return to fair value is +32.4%.
GENERAL ELECTRIC CO (GE) has a net profit margin of 19.0%. This is a healthy margin.
GENERAL ELECTRIC CO (GE) generated $7.3 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
GENERAL ELECTRIC CO (GE) has a debt-to-equity ratio of 1.16. This indicates moderate leverage.
GENERAL ELECTRIC CO (GE) reported earnings per share (EPS) of $8.14 in its most recent fiscal year.
GENERAL ELECTRIC CO (GE) has a return on equity (ROE) of 45.8%. This indicates the company generates strong returns for shareholders.
GENERAL ELECTRIC CO (GE) has a 5-year average gross margin of 23.5%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 19 years of financial data for GENERAL ELECTRIC CO (GE), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
GENERAL ELECTRIC CO (GE) has a book value per share of $17.47, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects commercial services revenue to grow mid-teens in 2026, supported by robust backlog of over $170 billion and strong demand for shop visits and spare parts as the LEAP installed base continues to expand. The company is investing substantially to expand MRO capacity globally, with internal LEAP capacity expected to roughly double by the end of the decade, and external shop visits projected to grow from 15% of total LEAP shop visits in 2025 to 30% by 2030. LEAP profitability is expected to reach overall CES service margins by 2028, reflecting improvements in durability, repair certifications and cost reduction initiatives. Defense & Propulsion Technologies is expected to deliver mid to high single-digit revenue growth in 2026, with continued margin expansion opportunities supported by strong backlog of $21 billion and improved operational execution through FLIGHT DECK. The company expects to generate substantial free cash flow of $8 billion to $8.4 billion in 2026, with conversion remaining well above 100%, and is committed to reinvesting in U.S. manufacturing to support both commercial and defense customers.
Based on recent SEC filings and earnings calls, GENERAL ELECTRIC CO (GE) has provided the following forward guidance: Revenue: low double digits (FY2026); Operating profit: $9.85 billion-$10.25 billion (FY2026); EPS: $7.10-$7.40 (FY2026); Free cash flow: $8 billion-$8.4 billion (FY2026); CES Revenue: mid-teens (FY2026), plus 3 additional metrics.
CES Revenue (FY2026): “we expect mid-teens revenue growth, including services up mid-teens.”
CES Profit (FY2026): “We expect $9.6 billion-$9.9 billion of profit, up about $1.2 billion at the midpoint.”
DPT Revenue (FY2026): “In DPT, we expect mid to high single-digit revenue growth and profit of $1.55 billion-$1.65 billion.”
DPT Profit (FY2026): “In DPT, we expect mid to high single-digit revenue growth and profit of $1.55 billion-$1.65 billion.”