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Financial Analysis

Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data

Fundamentals

GENERAL ELECTRIC CO GE

· Technology · Electronic & Other Electrical Equipment (No Computer Equip)

FY2025 10-K, filed 2026-01-29
SEC EDGAR

Filing evidence summary

Mixed evidenceCoverage 5/5 core metrics

Flagged areas: Earnings quality, Solvency & liquidity.

Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.

Evidence signals

  • 2 filing risk checks flagged

    Flagged areas: Earnings quality, Solvency & liquidity.

    Why this surfaced

    The full financial analysis shows each value, threshold, and sector limitation.

  • Revenue expanded

    Latest reported annual revenue changed +18.5% from the prior reported annual observation.

    Why this surfaced

    Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.

  • Operating margin improved

    Operating margin changed +1.6 percentage points from the prior annual period.

    Why this surfaced

    Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2012-12-31.

  • Free cash flow was positive

    Latest reported free cash flow was $7.3B.

    Why this surfaced

    Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2025-12-31.

Core trend metrics

Latest annual revenue growth
+18.5%
as of 2025-12-31
Latest annual operating margin
20.3%
as of 2012-12-31
Free cash flow
$7.3B
as of 2025-12-31
Debt / equity
1.10x
as of 2025-12-31
ROIC snapshot
47.4%
period varies

Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.

Where to look next

Risk checks

2of 10 rule-based checks flagged
  • Earnings quality
  • Solvency & liquidity

Financial movement

  • Cash→ flat
  • Long-term debt→ flat
  • Inventory→ flat
  • Receivables→ flat
  • Current assets→ flat

Source & freshness

Source
SEC EDGAR XBRL
Fetched
2026-10-07
Latest period end
2025-12-31
Filings
EDGAR ↗

Reported segment mix

figures as filed · share of the filed sum · change vs the prior period in the same filing
Fiscal year ending 2025-12-3110-K filed 2026-01-29prior period 2024-12-31 from the same filingView filing
By business segment
Revenue
  • Commercial Engines And Services Reportable Segment$33.3B
    78.9%
    +24.7% yoy
  • Defense And Propulsion Technologies Reportable Segment$8.87B
    21.1%
    +10.5% yoy

Members sum to $42.1B against $45.9B consolidated (residual $3.73B) - eliminations or corporate lines the filer did not tag on this axis.

By product or service
Revenue
  • Service$30.2B
    71.3%
    +21.4% yoy
  • Product$12.2B
    28.7%
    +18.3% yoy

Members sum to $42.3B against $45.9B consolidated (residual $3.53B) - eliminations or corporate lines the filer did not tag on this axis.

By geography
Revenue
  • Outside the United States$27.7B
    share n/a
    +29.5% yoy
  • United States$18.2B
    share n/a
    +4.9% yoy
  • Asia$10.8B
    share n/a
    +49.5% yoy
  • Europe$8.6B
    share n/a
    +10.3% yoy
  • Middle East And Africa$4.58B
    share n/a
    +22.5% yoy
  • Americas Excluding U.S.$3.66B
    share n/a
    +41.3% yoy

member sum exceeds the consolidated figure: this axis carries more than one breakdown, so shares are not computed.

Latest quarter
Quarter ending 2026-06-3010-Q filed 2026-07-16prior period 2025-06-30 from the same filingView filing
  • Service$9.03B
    71.5%
    +23.6% yoy
  • Product$3.6B
    28.5%
    +26.7% yoy

Change is against the same quarter a year earlier, as reported in the same 10-Q.

Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.

Peer percentiles

latest fiscal year ending 2025-12-31 · among 4,075 US-listed filers · 810 in Technology
MetricValuevs all filersvs sector
Revenue
latest fiscal-year revenue as filed
$45.9B
97thof 3,256
top third
98thof 772
top third
Revenue growth
latest fiscal-year revenue vs the prior fiscal year
18.5%
76thof 3,094
top third
70thof 738
top third
Net margin
net income ÷ revenue
19.0%
85thof 3,221
top third
87thof 764
top third
Free-cash-flow margin
(operating cash flow − |capex|) ÷ revenue
15.8%
78thof 2,647
top third
68thof 694
top third
Return on equity
net income ÷ stockholders' equity (positive equity only)
46.6%
96thof 3,529
top third
94thof 715
top third
Days sales outstanding
receivables ÷ revenue × 365 · lower is ranked higher
94 days
13thof 2,378
bottom third
18thof 709
bottom third
Net debt ÷ operating cash flow
net debt ÷ operating cash flow (OCF > 0) · lower is ranked higher
0.9×
65thof 1,531
middle third
57thof 335
middle third
Cash conversion
operating cash flow ÷ net income (net income > 0)
1.0×
24thof 2,250
bottom third
18thof 427
bottom third
Cash-flow accrual ratio
(net income − operating cash flow) ÷ average total assets · lower is ranked higher
0.1%
18thof 3,862
bottom third
14thof 772
bottom third
Balance-sheet accrual ratio
change in net operating assets ÷ average net operating assets · lower is ranked higher
6.7%
45thof 3,310
middle third
44thof 680
middle third

Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.

Earnings quality

latest fiscal year ending 2025-12-31 · accruals and cash conversion as filed
Cash conversion
0.98×
operating cash flow ÷ net income, latest fiscal year
Cash-flow accrual ratio
0.1%
(net income − operating cash flow) ÷ average total assets
Balance-sheet accrual ratio
6.7%
change in net operating assets ÷ average net operating assets
Cash-backed years
2 of 5
fiscal years where operating cash flow met or exceeded net income
Mean cash conversion
4.96×
across the stored fiscal years with positive net income

Per fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.

Point-in-time ledger

first-reported vs latest filing · periods since 2020-01-01 · 62 changed periods, 22 largest shown
Line itemPeriodFirst reportedLatest filingChangeFilings
Net income
NetIncomeLoss
quarter 2022-09-30-$165M
10-Q 2022-10-25
$161M
10-K 2024-02-02
+197.6%first · latest · 4 filings carry it
Goodwill
Goodwill
balance at 2022-12-31$25.8B
10-K 2023-02-10
$8.84B
10-K 2025-02-03
-65.8%first · latest · 6 filings carry it
Depreciation and amortization
DepreciationAmortizationAndAccretionNet
quarter 2020-06-30$1.29B
10-Q 2020-07-29
$460M
10-Q 2021-07-27
-64.3%first · latest
Revenue
Revenues
fiscal year 2022-12-31$76.6B
10-K 2023-02-10
$29.1B
10-K 2025-02-03
-61.9%first · latest · 3 filings carry it
Deferred revenue (current)
ContractWithCustomerLiabilityCurrent
balance at 2023-12-31$19.7B
10-K 2024-02-02
$8.32B
10-K 2025-02-03
-57.7%first · latest · 5 filings carry it
Depreciation and amortization
DepreciationAmortizationAndAccretionNet
fiscal year 2020-12-31$4.64B
10-K 2021-02-12
$2.13B
10-K 2023-02-10
-54.1%first · latest · 3 filings carry it
Depreciation and amortization
DepreciationAmortizationAndAccretionNet
quarter 2020-03-31$991M
10-Q 2020-04-29
$461M
10-Q 2021-04-27
-53.5%first · latest
Depreciation and amortization
DepreciationAmortizationAndAccretionNet
fiscal year 2022-12-31$1.8B
10-K 2023-02-10
$846M
10-K 2025-02-03
-53.0%first · latest · 3 filings carry it
Capital expenditure
PaymentsToAcquireProductiveAssets
quarter 2024-03-31$421M
10-Q 2024-04-23
$204M
10-Q 2025-04-22
-51.5%first · latest
Revenue
Revenues
quarter 2023-12-31$19.4B
10-K 2024-02-02
$9.46B
10-K 2025-02-03
-51.3%first · latest
Net income
NetIncomeLoss
fiscal year 2022-12-31$225M
10-K 2023-02-10
$336M
10-K 2025-02-03
+49.3%first · latest · 3 filings carry it
Goodwill
Goodwill
balance at 2021-12-31$26.2B
10-K 2022-02-11
$13.3B
10-K 2024-02-02
-49.2%first · latest · 6 filings carry it
Revenue
Revenues
fiscal year 2023-12-31$68B
10-K 2024-02-02
$35.3B
10-K 2026-01-29
-48.0%first · latest · 3 filings carry it
Revenue
Revenues
quarter 2023-06-30$16.7B
10-Q 2023-07-25
$8.76B
10-K 2025-02-03
-47.6%first · latest · 4 filings carry it
Depreciation and amortization
DepreciationAmortizationAndAccretionNet
quarter 2024-03-31$378M
10-Q 2024-04-23
$202M
10-Q 2025-04-22
-46.6%first · latest
Revenue
Revenues
quarter 2023-09-30$17.3B
10-Q 2023-10-24
$9.3B
10-K 2025-02-03
-46.4%first · latest · 4 filings carry it
Capital expenditure
PaymentsToAcquireProductiveAssets
fiscal year 2023-12-31$1.59B
10-K 2024-02-02
$862M
10-K 2026-01-29
-46.0%first · latest · 3 filings carry it
Revenue
Revenues
quarter 2023-03-31$14.5B
10-Q 2023-04-25
$7.84B
10-K 2025-02-03
-45.9%first · latest · 4 filings carry it
Depreciation and amortization
DepreciationAmortizationAndAccretionNet
fiscal year 2023-12-31$1.47B
10-K 2024-02-02
$797M
10-K 2026-01-29
-45.9%first · latest · 3 filings carry it
Depreciation and amortization
DepreciationAmortizationAndAccretionNet
quarter 2020-09-30$1.37B
10-Q 2020-10-28
$744M
10-Q 2021-10-26
-45.9%first · latest
Revenue
Revenues
quarter 2024-03-31$16.1B
10-Q 2024-04-23
$8.96B
10-Q 2025-04-22
-44.2%first · latest · 3 filings carry it
Receivables
ReceivablesNetCurrent
balance at 2023-12-31$15.5B
10-K 2024-02-02
$8.7B
10-K 2025-02-03
-43.7%first · latest · 5 filings carry it

8 share-count periods re-presented for a stock split (1-for-8) are listed apart from restatements and not counted above.

First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.

Notes by disclosure type

debt, leases, revenue, segments, contingencies, taxes and more · the filer's own words
Latest annual report10-K FY2025 · filed 20260129View filing
Debt · 1,246 characters as filed

"BORROWINGS December 31 2025 2024 Maturities Amount Average Rate Amount Average Rate Current portion of long-term borrowings Senior notes 2026 $ 1,504 4.00 % $1,952 4.03 % Subordinated notes and other 2026 157 87 Other short-term 25 Total short-term borrowings $ 1,686 $ 2,039 Maturities Amount Average Rate Amount Average Rate Senior notes(a) 2027 - 2050 $ 16,773 4.00 % $ 15,467 4.03 % Subordinated notes 2035 - 2037 1,456 4.40 % 1,330 4.43 % Other 580 437 Total long-term borrowings $ 18,808 $ 17,234 Total borrowings $ 20,494 $ 19,273 (a) In the third quarter of 2025, GE Aerospace issued a total of $2,000 million in aggregate principal amount of senior unsecured debt, comprised of $1,000 million of 4.3% senior notes due 2030, and $1,000 million of 4.9% senior notes due 2036 (collectively, the ""Notes""). Interest payments on the Notes are due semi-annually until maturity. See Note 22 for further information about borrowings and associated hedges. Long-term debt maturities are below: 2026 2027 2028 2029 2030 Thereafter Total Long-term debt maturities 1,661 (a) 1,693 480 1,639 1,700 13,296 20,469 (a) Fixed and floating rate notes of $324 million contain put options with exercise dates in 2026, which contractually mature after 2026."

DebtDisclosureTextBlock

Revenue disaggregation · 910 characters as filed

REVENUE Total revenue Intersegment revenue External revenue Years ended December 31 2025 2024 2023 2025 2024 2023 2025 2024 2023 Commercial Engines & Services $ 33,314 $ 26,881 $ 23,855 $ 62 $ 216 $ 559 $ 33,252 $ 26,666 $ 23,296 Defense & Propulsion Technologies 10,554 9,478 8,961 1,686 1,453 1,253 8,868 8,025 7,708 Corporate & Other 1,987 2,343 2,532 (1,748) (1,669) (1,812) 3,735 4,011 4,344 Total revenue $ 45,855 $ 38,702 $ 35,348 $ $ $ $ 45,855 $ 38,702 $ 35,348 2025 2024 2023 Years ended December 31 Equipment Services Total Equipment Services Total Equipment Services Total Commercial Engines & Services $ 8,304 $ 25,010 $ 33,314 $ 7,106 $ 19,775 $ 26,881 $ 6,169 $ 17,686 $ 23,855 Defense & Propulsion Technologies 5,128 5,426 10,554 4,208 5,270 9,478 4,000 4,961 8,961 Total segment revenue $ 13,433 $ 30,436 $ 43,868 $ 11,315 $ 25,045 $ 36,360 $ 10,170 $ 22,647 $ 32,816 …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

Share-based compensation · 3,597 characters as filed

SHARE-BASED COMPENSATION. We grant stock options, restricted stock units and performance share units to employees under the 2022 Long-Term Incentive Plan. Grants made under all plans must be approved by the Management Development and Compensation Committee of GE Aerospaces Board of Directors, which is composed entirely of independent directors. We record compensation expense for awards expected to vest over the vesting period. We estimate forfeitures based on experience and adjust expense to reflect actual forfeitures. When options are exercised, restricted stock units vest and performance share awards are earned, we issue shares from treasury stock. Stock options provide employees the opportunity to purchase GE Aerospace shares in the future at the market price of our stock on the date the award is granted (the strike price). The options become exercisable over the vesting period, typically three years, and expire 10 years from the grant date if not exercised. Restricted stock units (RSUs) represent the right to receive, upon vesting and lapse of restrictions, one share of GE Aerospace common stock for each unit granted. Performance stock units (PSUs) represent the right to receive, upon vesting and achievement of applicable performance or market conditions, shares of GE Aerospace common stock. We value stock options using a Black-Scholes option pricing model, RSUs using market price on grant date, and PSUs and performance shares using market price on grant date and a Monte …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Fair value · 3,684 characters as filed

FAIR VALUE MEASUREMENTS. Our assets and liabilities measured at fair value on a recurring basis include debt securities mainly supporting obligations to annuitants and policyholders in our run-off insurance operations and derivatives. ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS Level 1 Level 2 Level 3(a) Netting adjustment(b) Net balance(c) December 31 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 Investment securities $ 655 $ 14 $ 34,911 $ 33,635 $ 3,222 $ 5,074 $ $ $ 38,788 $ 38,723 Derivatives 247 243 (60) (55) 187 188 Total assets $ 655 $ 14 $ 35,158 $ 33,878 $ 3,222 $ 5,074 $ (60) $ (55) $ 38,975 $ 38,911 Derivatives $ $ $ 129 $ 131 $ $ $ (58) $ (54) $ 71 $ 77 Other(d) 400 367 400 367 Total liabilities $ $ $ 530 $ 498 $ $ $ (58) $ (54) $ 472 $ 444 (a) Included $292 million of U.S. corporate debt securities and $2,530 million of Mortgage and asset-backed debt securities as of December 31, 2025. Included $1,627 million of U.S. corporate debt securities, $1,935 million of Mortgage and asset-backed debt securities and the $982 million AerCap note as of December 31, 2024. (b) The netting of derivative receivables and payables is permitted when a legally enforceable master netting agreement exists. Amounts include fair value adjustments related to our own and counterparty non-performance risk. (c) Included investment securities in our run-off insurance operations of $37,842 million and $37,352 million as of December 31, 2025 and 2024, respectively, w …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

Goodwill and intangibles · 2,179 characters as filed

GOODWILL AND OTHER INTANGIBLE ASSETS Commercial Engines & Services Defense & Propulsion Technologies Total Balance at December 31, 2023 $ 6,472 $ 2,476 $ 8,948 Goodwill impairment (251) (251) Goodwill adjustments(a) (131) (28) (159) Balance at December 31, 2024 $ 6,341 $ 2,197 $ 8,538 Goodwill acquisition 148 148 Goodwill adjustments(a) 303 72 374 Balance at December 31, 2025 $ 6,644 $ 2,417 $ 9,060 (a) Goodwill adjustments are primarily related to foreign currency exchange. In the fourth quarter of 2025, we performed our annual impairment test. Based on the results of this test, the fair values of each of our reporting units exceeded their carrying values. 2025 2024 INTANGIBLE ASSETS SUBJECT TO AMORTIZATION December 31 Useful lives (in years) Gross carrying amount Accumulated amortization Net Gross carrying amount Accumulated amortization Net Customer-related(a) 5-20 $ 3,992 $ (2,313) $ 1,679 $ 3,850 $ (2,083) $ 1,767 Patents and technology 5-15 2,946 (916) 2,031 2,744 (759) 1,985 Capitalized software 5-10 1,366 (859) 507 1,296 (803) 493 Trademarks & other 13 77 (67) 9 70 (58) 13 Total $ 8,380 $ (4,155) $ 4,225 $ 7,960 $ (3,703) $ 4,257 (a) Balance includes payments made to our customers, primarily within our Commercial Engines & Services segment. Intangible assets decreased $32 million in 2025, primarily as a result of amortization, offset by acquisitions within our Defense & Propulsion Technologies segment, additions of capitalized software and foreign …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

Income taxes · 13,088 characters as filed

"INCOME TAXES . GE Aerospace files a consolidated U.S. federal income tax return which enables the company to use tax deductions and credits of one member of the group to reduce the tax that otherwise would have been payable by another member of the group. The effective tax rate reflects the benefit of these tax reductions in the consolidated return. Cash payments are made within the company for tax increases or reductions . Our businesses are subject to a wide variety of U.S. federal, state and foreign tax laws, regulations and policies. Changes to these laws or regulations may affect our tax liability, return on investments and business operations. On July 4, 2025, the reconciliation bill, commonly referred to as the One Big Beautiful Bill Act (OBBBA), was signed into law in the U.S., which includes a broad range of tax reform provisions. Beginning in 2025, the OBBBA provides an elective deduction for domestic research and development expenses, a reinstatement of elective 100% first-year bonus depreciation and repeal of non-U.S. corporations' fiscal year end. Some impacts of the OBBBA will not be realized until 2026 and forward, such as a more favorable tax rate on Foreign-Derived Deduction Eligible Income and income from non-U.S. subsidiaries (Net CFC Tested Income). In 2025, we incurred $131 million of tax expense in connection with OBBBA. Due to the nature of the tax law changes, the company has not realized an impact in the Statement of Operations related to deferred ta …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

New accounting pronouncements · 548 characters as filed

ADOPTIONS OF NEW ACCOUNTING STANDARDS. In 2025, we adopted Accounting Standards Update (ASU) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , on a prospective basis. The amendments require disclosure of specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. This standard also requires further disaggregation of income taxes paid by federal, state, and foreign taxes, and by individual jurisdictions exceeding a specific thresholds.

NewAccountingPronouncementsPolicyPolicyTextBlock

Pensions and post-retirement benefits · 20,242 characters as filed

POSTRETIREMENT BENEFIT PLANS PENSION BENEFITS AND RETIREE HEALTH AND LIFE BENEFITS. We sponsor a number of pension and retiree health and life insurance benefit plans that we present in three categories, principal pension plans, other pension plans and principal retiree benefit plans. Smaller pension plans with pension assets or obligations that have not reached $50 million and other retiree benefit plans are not presented. Effective January 1, 2023, certain postretirement benefit plans and liabilities were legally split or allocated between GE HealthCare, GE Vernova and GE Aerospace. In connection with the separations, net liabilities associated with GE's postretirement benefit plans, including a portion of the principal pension plans, other pension plans and the principal retiree benefit plans, were transferred to GE HealthCare and GE Vernova and are now reported in discontinued operations. See Note 2 for more information regarding the separations. The amounts that remain with GE Aerospace following the separations are shown as continuing operations in the aggregate rather than for each remaining split plan. Assumptions used in calculations, estimates of future benefit payments and funding, and other forward looking statements are for continuing operations unless otherwise noted. DESCRIPTION OF OUR PLANS Plan Category Participants Funding Comments Principal Pension Plans GE Aerospace Pension Plan Covers U.S. GE Aerospace participants: ~79,000 retirees and beneficiaries, ~33 …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Restructuring · 4,588 characters as filed

RESTRUCTURING CHARGES AND SEPARATION COSTS RESTRUCTURING AND OTHER CHARGES. This table is inclusive of all restructuring charges in our segments and at Corporate & Other. Separately, in our reported segment results, significant, higher-cost restructuring programs, primarily related to the separations, are excluded from measurement of segment operating performance for internal and external purposes; those excluded amounts are reported in Restructuring and other charges for Corporate & Other. RESTRUCTURING AND OTHER CHARGES 2025 2024 2023 Workforce reductions $ (33) $ 107 $ 166 Plant closures & associated costs and other asset write-downs (51) 74 84 Acquisition/disposition net charges and other 366 10 $ (84) $ 546 $ 260 Cost of equipment/services $ 6 $ 27 $ 10 Selling, general and administrative expenses (90) 519 250 Total restructuring and other charges(a) $ (84) $ 546 $ 260 Restructuring and other cash expenditures(b) $ 69 $ 507 $ 204 (a) For the year ended December 31, 2024, restructuring and other charges included cost of $363 million for the settlement of the Sjunde AP-Fonden shareholder lawsuit and also included income of $81 million as a result of a change in estimate of the post-employment severance benefit reserve in connection with the separation of GE Vernova. (b) Restructuring and other cash expenditures were primarily related to employee severance payments. Additionally, included $363 million for the final settlement payment for the Sjunde AP-Fonden sha …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Segment reporting · 6,887 characters as filed

SEGMENT AND GEOGRAPHIC INFORMATION & REMAINING PERFORMANCE OBLIGATION SEGMENT INFORMATION. We have two reportable segments and three operating segments. Operating segments are aggregated into a reportable segment if the operating segments have similar quantitative economic characteristics and if the operating segments are similar in the following qualitative characteristics: (i) nature of products and services; (ii) nature of production processes; (iii) type or class of customer for their products and services; (iv) methods used to distribute the products or provide services; and (v) if applicable, the nature of the regulatory environment. We have aggregated Defense & Systems and Propulsion & Additive Technology into one reportable segment (Defense & Propulsion Technologies) based on similarity in economic characteristics, other qualitative factors and the objectives and principals of ASC 280, Segment Reporting. This is consistent with how our chief operating decision maker (CODM), who is our Chief Executive Officer (CEO), allocates resources and makes decisions. Segment accounting policies are the same as described and referenced in Note 1. See About GE Aerospace for a description of our reporting segments as of December 31, 2025. Segment revenue includes sales of equipment and services by our segments. Segment profit is determined based on performance measures used by our CODM. Our CODM uses segment profit or loss to assess performance and allocate resources …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Significant accounting policies · 39,829 characters as filed

"BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES FINANCIAL STATEMENT PRESENTATION. Our financial statements are prepared in conformity with U.S. generally accepted accounting principles (GAAP), which requires us to make estimates based on assumptions about current, and for some estimates, future, economic and market conditions which affect reported amounts and related disclosures in our financial statements. Although our current estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could differ from our expectations, which could materially affect our results of operations, financial position and cash flows. Such changes could result in future impairments of goodwill, intangibles, long-lived assets, contract assets and investment securities, revisions to estimated profitability on long-term product service agreements, incremental credit losses on receivables and debt securities, incremental losses related to our contingencies, a change in the carrying amount of our tax assets and liabilities, or a change in our insurance liabilities and pension obligations as of the time of a relevant measurement event. In preparing our Statement of Cash Flows, we make certain adjustments to reflect cash flows that cannot otherwise be calculated by changes in our Statement of Financial Position. These adjustments may include, but are not limited to, the effects of currency exchange, acquisitions and di …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

Stockholders' equity · 3,213 characters as filed

SHAREHOLDERS EQUITY ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Dividends per share in dollars) 2025 2024 2023 Beginning balance $ (1,472) $ (3,623) $ (5,893) AOCI before reclasses net of taxes of $(157), $5 and $74 (43) 36 12 Reclasses from AOCI net of taxes of $, $103 and $(626)(a) 2,093 2,262 AOCI (43) 2,129 2,274 Less AOCI attributable to noncontrolling interests (22) 4 Currency translation adjustments AOCI $ (1,515) $ (1,472) $ (3,623) Beginning balance $ 665 $ 1,786 $ 6,531 AOCI before reclasses net of taxes of $(117), $22 and $(497) (393) (8) (1,874) Reclasses from AOCI net of taxes of $(137), $(269) and $(778)(a) (489) (1,119) (2,873) AOCI (882) (1,127) (4,747) Less AOCI attributable to noncontrolling interests (7) (2) Benefit plans AOCI $ (217) $ 665 $ 1,786 Beginning balance $ (1,985) $ (959) $ (1,927) AOCI before reclasses net of taxes of $192 , $(271) and $248 763 (1,017) 1,046 Reclasses from AOCI net of taxes of $7, $4 and $(7) (14) 1 (78) AOCI 749 (1,016) 968 Less AOCI attributable to noncontrolling interests 12 Investment securities and cash flow hedges AOCI $ (1,236) $ (1,985) $ (959) Beginning balance $ (1,070) $ (3,354) $ (983) AOCI before reclasses net of taxes of $(202), $607 and $(630) (761) 2,284 (2,371) AOCI (761) 2,284 (2,371) Long-duration insurance contracts AOCI $ (1,831) $ (1,070) $ (3,354) AOCI at December 31 $ (4,798) $ (3,861) $ (6,150) Dividends declared per common share $ 1.44 $ 1.12 $ 0.32 (a) The total reclassifications from AOCI included …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

Latest quarterly report10-Q FY2026 Q2 · filed 20260716View filing
Debt · 680 characters as filed

BORROWINGS June 30, 2026 December 31, 2025 Current portion of long-term borrowings Senior notes $ 1,786 $ 1,504 Subordinated notes and other 209 157 Other short-term borrowings 5 25 Total short-term borrowings $ 2,000 $ 1,686 Senior notes(a) 15,238 16,773 Subordinated notes 1,412 1,456 Other 507 580 Total long-term borrowings $ 17,157 $ 18,808 Total borrowings $ 19,157 $ 20,494 (a) In 2025, GE Aerospace issued a total of $2,000 million in aggregate principal amount of senior unsecured debt, comprised of $1,000 million of 4.3% senior notes due 2030, and $1,000 million of 4.9% senior notes due 2036. See Note 20 for further information about borrowings and associated hedges.

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Revenue disaggregation · 666 characters as filed

EQUIPMENT & SERVICES REVENUE Three months ended June 30 2026 2025 Equipment Services Total Equipment Services Total Commercial Engines & Services $ 2,297 $ 7,434 $ 9,731 $ 1,765 $ 5,881 $ 7,646 Defense & Propulsion Technologies 1,744 1,699 3,443 1,469 1,509 2,978 Total segment revenue $ 4,041 $ 9,133 $ 13,174 $ 3,234 $ 7,390 $ 10,624 Six months ended June 30 2026 2025 Equipment Services Total Equipment Services Total Commercial Engines & Services $ 4,399 $ 14,251 $ 18,650 $ 3,514 $ 10,796 $ 14,309 Defense & Propulsion Technologies 3,350 3,307 6,657 2,692 2,984 5,676 Total segment revenue $ 7,749 $ 17,558 $ 25,307 $ 6,206 $ 13,780 $ 19,986

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Goodwill and intangibles · 1,083 characters as filed

GOODWILL AND OTHER INTANGIBLE ASSETS Commercial Engines & Services Defense & Propulsion Technologies Total Balance at January 1, 2026 $ 6,555 $ 2,506 $ 9,060 Goodwill acquisition 14 14 Goodwill adjustments(a) (91) (29) (120) Balance at June 30, 2026 $ 6,463 $ 2,492 $ 8,954 (a) Goodwill adjustments are primarily related to foreign currency exchange. We assess the possibility that a reporting units fair value has been reduced below its carrying amount due to the occurrence of events or circumstances between annual impairment testing dates. In the second quarter of 2026, we did not identify any reporting units that required an interim impairment test. Other intangible assets decreased $140 million during the six months ended June 30, 2026, primarily as a result of amortization and foreign currency exchange, partially offset by additions. Consolidated amortization expense was $88 million and $93 million in the three months ended June 30, 2026 and 2025, respectively, and $173 million and $182 million in the six months ended June 30, 2026 and 2025, respectively. …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

Income taxes · 2,788 characters as filed

INCOME TAXES. Our effective income tax rate was 13.2% and 14.5% for the six months ended June 30, 2026 and 2025, respectively. The decrease in our effective tax rate was primarily driven by increased tax benefits on global activities, including the impact of the One Big Beautiful Bill Act (OBBBA), which were partially offset by a decrease in favorable audit resolutions and a non-recurring benefit from foreign tax credits on the reinsurance transaction that occurred in 2025. In 2026, the Organisation for Economic Co-operation and Development (OECD)/G20 issued a Side-by-Side package (SbS) that simplifies Pillar 2, creates new safe harbors, fully exempts U.S.-parented groups from two of the three top-up taxes, and extends the Transitional Country-by-Country Reporting (CbCR) Safe Harbor through fiscal year 2027. In certain jurisdictions, local legislative action is needed to effectuate the SbS agreement and cannot be considered in our accounting estimate until enactment. We continue to refine the effective tax rate and cash tax impact of Pillar 2 as legislative changes are implemented in multiple countries, but we do not expect significant changes in the tax provision as countries adopt the SbS. The Internal Revenue Service (IRS) is currently auditing our consolidated U.S. income tax returns for 2016-2020. In March 2026, we received Acknowledgement of Facts Information Document Requests (AOF IDRs) from the IRS regarding this audit. The AOF IDRs relate to the Company's income tax …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Pensions and post-retirement benefits · 1,474 characters as filed

POSTRETIREMENT BENEFIT PLANS. We sponsor a number of pension and retiree health and life insurance benefit plans that we present in three categories; principal pension plans, other pension plans and principal retiree benefit plans. Please refer to Note 13 to the consolidated financial statements of our Annual Report on Form 10-K for the year ended December 31, 2025 for further information. The components of benefit plans cost other than the service cost are included in the caption Non-operating benefit costs in our Statement of Operations. PRINCIPAL PENSION PLANS Three months ended June 30 Six months ended June 30 2026 2025 2026 2025 Service cost for benefits earned $ 13 $ 14 $ 25 $ 33 Prior service cost amortization (1) (3) (2) (5) Expected return on plan assets (358) (375) (717) (750) Interest cost on benefit obligations 310 326 620 651 Net actuarial gain amortization (110) (125) (219) (253) Net periodic expense (income) $ (146) $ (163) $ (293) $ (324) Principal retiree benefit plans income was $13 million and $17 million for the three months ended June 30, 2026 and 2025, and $26 million and $32 million for the six months ended June 30, 2026 and 2025, respectively. We have a defined contribution plan for eligible U.S. employees that provides employer contributions, which were $67 million and $59 million for the three months ended June 30, 2026 and 2025, and $164 million and $139 million for the six months ended June 30, 2026 and 2025, respectively.

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Restructuring · 2,661 characters as filed

RESTRUCTURING CHARGES AND SEPARATION COSTS RESTRUCTURING AND OTHER CHARGES. This table is inclusive of all restructuring charges in our segments and at Corporate & Other. Separately, in our reported segment results, significant, higher-cost restructuring programs, primarily related to the separations, are excluded from measurement of segment operating performance for internal and external purposes; those excluded amounts are reported in Restructuring and other charges for Corporate & Other. RESTRUCTURING AND OTHER CHARGES Three months ended June 30 Six months ended June 30 2026 2025 2026 2025 Workforce reductions $ 24 $ 20 $ 51 $ 19 Plant closures & associated costs and other asset write-downs 2 7 (1) 10 Acquisition/disposition net charges and other 1 1 Total restructuring and other charges $ 26 $ 27 $ 51 $ 29 Cost of equipment/services $ $ $ $ 3 Selling, general and administrative expenses 26 27 51 26 Total restructuring and other charges $ 26 $ 27 $ 51 $ 29 Restructuring and other cash expenditures(a) $ 26 $ 16 $ 53 $ 55 (a) Primarily related to employee severance payments. The restructuring liability as of June 30, 2026 and December 31, 2025 was $76 million and $91 million, respectively. For the three and six months ended June 30, 2026, and 2025, restructuring and other charges for ongoing programs included exit activities reflecting lower Corporate & Other shared-service and footprint needs as a result of the GE HealthCare and GE Vernova spin-offs. SEPARAT …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Segment reporting · 4,795 characters as filed

SEGMENT INFORMATION & REMAINING PERFORMANCE OBLIGATION. We have two reportable segments and three operating segments. Operating segments are aggregated into a reportable segment if the operating segments have similar quantitative economic characteristics and if the operating segments are similar in the following qualitative characteristics: (i) nature of products and services; (ii) nature of production processes; (iii) type or class of customer for their products and services; (iv) methods used to distribute the products or provide services; and (v) if applicable, the nature of the regulatory environment. We have aggregated Defense & Systems and Propulsion & Additive Technology into one reportable segment, Defense & Propulsion Technologies, based on similarity in economic characteristics, other qualitative factors and the objectives and principles of ASC 280, Segment Reporting . This is consistent with how our chief operating decision maker (CODM) allocates resources and makes decisions. Refer to our Annual Report on Form 10-K for the year ended December 31, 2025, for a description of our segments, further information regarding our determination of segment profit for continuing operations and our allocations of corporate costs to our segments. On January 15, 2026, we announced that our CES segment will expand to include the entire commercial engine lifecycle, including safety and quality, product management, engineering, supply chain, manufacturing and afterma …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Significant accounting policies · 3,117 characters as filed

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES. Our consolidated financial statements are prepared in conformity with U.S. generally accepted accounting principles (GAAP), which requires us to make estimates based on assumptions about current, and for some estimates, future, economic and market conditions which affect reported amounts and related disclosures in our financial statements. Although our current estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could differ from our expectations, which could materially affect our results of operations, financial position and cash flows. Such changes could result in future impairments of goodwill, intangibles, long-lived assets, contract assets and investment securities, revisions to estimated profitability on long-term product service and other service agreements, incremental credit losses on receivables and debt securities, incremental losses related to our contingencies, a change in the carrying amount of our tax assets and liabilities, or a change in our insurance liabilities and pension obligations as of the time of a relevant measurement event. In preparing our Statement of Cash Flows, we make certain adjustments to reflect cash flows that cannot otherwise be calculated by changes in our Statement of Financial Position. These adjustments may include, but are not limited to, the effects of currency exchange, acquisitions and dispo …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

Stockholders' equity · 2,372 characters as filed

SHAREHOLDERS EQUITY ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Three months ended June 30 Six months ended June 30 (Dividends per share in dollars) 2026 2025 2026 2025 Beginning balance $ (1,509) $ (1,478) $ (1,515) $ (1,472) AOCI before reclasses net of taxes of $22, $(100), $51 and $(140) (3) (12) 2 (19) AOCI (3) (12) 2 (19) Currency translation adjustments AOCI $ (1,512) $ (1,491) $ (1,512) $ (1,491) Beginning balance $ (301) $ 531 $ (217) $ 665 AOCI before reclasses net of taxes of $3, $(21), $6 and $(25) 11 (70) 18 (85) Reclasses from AOCI net of taxes of $(30), $(34), $(61) and $(69) (102) (122) (194) (241) AOCI (92) (192) (176) (325) Benefit plans AOCI $ (393) $ 338 $ (393) $ 338 Beginning balance $ (1,737) $ (1,667) $ (1,236) $ (1,985) AOCI before reclasses net of taxes of $32, $39, $(101) and $125 103 114 (387) 437 Reclasses from AOCI net of taxes of $, $2, $2 and $1 42 (4) 30 (9) AOCI 145 110 (357) 428 Investment securities and cash flow hedges AOCI $ (1,592) $ (1,557) $ (1,592) $ (1,557) Beginning balance $ (939) $ (1,118) $ (1,831) $ (1,070) AOCI before reclasses net of taxes of $(136), $(52), $101 and $(65) (512) (196) 381 (244) AOCI (512) (196) 381 (244) Long-duration insurance contracts AOCI $ (1,450) $ (1,314) $ (1,450) $ (1,314) AOCI at June 30 $ (4,948) $ (4,024) $ (4,948) $ (4,024) Dividends declared per common share $ 0.47 $ 0.36 $ 0.94 $ 0.72 Common stock. GE Aerospace common stock shares outstanding were 1,037,562,513 and 1,048,766,702 as of June 30, …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

Source: SEC DERA Financial Statement and Notes data sets (txt.tsv), excerpts of the filer's own note text; the full note is in the linked filing. Excerpts are the first part of each note exactly as tagged in the filing; open the filing for the full text and the tables. Descriptive and educational, not advice.

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