Loading…
Maker of jet engines for commercial and military aircraft, plus long-term maintenance and services contracts.
Maker of jet engines for commercial and military aircraft, plus long-term maintenance and services contracts.
Sells engines at thin margins to airframers, then earns much of its profit from decades of spare parts and servicing on engines already flying, so flight hours matter more than deliveries. It is the aerospace business left after GE spun off healthcare in 2023 and energy in 2024, and CFM, its engine venture with Safran, builds the main narrowbody engines.
Moat: wide (installed base, switching costs, scale). Huge installed engine base locks in decades of high-margin spare-parts and servicing revenue.
Headquarters: Evendale, Ohio, US · Founded: 1892 · Employees: 57,000
Size GE Aerospace (GE) is a United States Industrials company (Aerospace & Defense) with a market value of $334B, the 33rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $323.24 on 6 Nov 2026.
Performance Over six months the shares gained 8.8%, against +5.9% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd highest of 8 in its peer set.
Growth Revenue grew 19.6% over the last twelve months (peer median +11.6%); the operating margin is 18.1% (peer median 11.2%).
Valuation It trades at 36.4× forward earnings against a peer median of 26.8× (2nd most expensive of 8).
Price implies For today's price to make sense, revenue must grow about 28% a year for seven years (Req g). Recent delivered growth is -10%, so the hurdle is +37 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 13.7 points above its cost of capital (11.7% WACC).
Backlog Backlog (remaining performance obligations) was $212B at 30 Sep 2026, up 20% on a year earlier — 4.0 years of trailing revenue. Backlog detail →
Credit GE Aerospace has 9 bonds outstanding ($6.16B), rated A- by the agencies and trading like AA- at a weighted spread of 65 bp.
Short interest Short interest is 1.1% of the free float (15 Oct 2026).
Next results Next results expected around 21 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $52.6B | $45.9B | $38.7B | $35.3B | $58.1B |
| Revenue growth | — | +18% | +9% | -39% | — |
| Gross profit | $18.5B | $16.7B | $14.3B | $12.4B | $14.1B |
| EBITDA | $10.8B | $9.48B | $7.89B | $5.90B | $4.34B |
| Net income | $9.09B | $8.69B | $6.54B | $9.48B | $127M |
| Free cash flow | $8.02B | $7.26B | $3.68B | $4.33B | $4.74B |
| Capital expenditure | $1.43B | $1.27B | $1.03B | $862M | $1.17B |
| Total debt | $20.4B | $21.6B | $20.4B | $21.8B | $26.1B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| GE Aerospace GE | $334B | +9% | +20% | 18% | 36.4× | 27.6% |
| RTX RTX | $256B | +8% | +12% | 11% | 24.4× | 8.4% |
| Rolls-Royce RR..L | $140B | +6% | +19% | 18% | 28.5× | 24.6% |
| Safran SAF.PA | $138B | +4% | +14% | 13% | 28.5× | 22.2% |
| Honeywell Aerospace HONA | $48.5B | n/a | n/a | 20% | 18.8× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | GE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.8% | +2.8% | 3rd highest of 8 |
| 6-month return | +8.8% | +5.9% | 3rd highest of 8 |
| Distance from 52-week high | -16.9% | -18.1% | 4th highest of 8 |
| Revenue growth (TTM) | +19.6% | +11.6% | highest of 8 |
| Operating margin | 18.1% | 11.2% | 2nd highest of 8 |
| Forward P/E | 36.4× | 26.8× | 2nd most expensive of 8 |
| Growth the price implies (Req g, 7 yrs) | 27.6% | 15.3% | most demanding of 7 |
| Growth delivered (Del g) | -9.6% | +8.7% | lowest of 7 |
| Hurdle (Req g minus delivered) | +37.2 pp | +3.9 pp | most demanding of 7 |
| ROIC minus cost of capital | +13.7 pp | +6.3 pp | 2nd highest of 7 |
| EV / EBITDA | 32.0× | 17.9× | most expensive of 7 |
| Net debt / EBITDA | 1.1× | 0.7× | 4th most indebted of 8 |
| Bond spread | 65 bp | 70 bp | 4th tightest of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| GE Aerospace GE | United States | $334B | +9% | +20% | 18% | 36.4× | 27.6% | -9.6% |
| RTX RTX | United States | $256B | +8% | +12% | 11% | 24.4× | 8.4% | +9.4% |
| Airbus AIR.PA | France | $174B | +14% | +6% | 8% | 26.8× | 22.6% | +8.0% |
| Rolls-Royce RR..L | United Kingdom | $140B | +6% | +19% | 18% | 28.5× | 24.6% | +13.0% |
| Safran SAF.PA | France | $138B | +4% | +14% | 13% | 28.5× | 22.2% | +13.4% |
| Boeing BA | United States | $137B | -27% | +18% | 0% | 179,875.5× | n/a | n/a |
| Lockheed Martin LMT | United States | $131B | +12% | +8% | 12% | 17.6× | -6.9% | +2.8% |
| General Dynamics GD | United States | $95.7B | +3% | +10% | 10% | 19.4× | -2.5% | +6.7% |
GE Aerospace has 9 bonds outstanding with $6.16B face value. The agencies rate it A-; its bonds trade like AA-. Weighted yield 5.45%, a spread of 65 bp over government bonds.
GE Aerospace reported $212B of remaining performance obligations at 30 Sep 2026, up 20% from a year earlier and up 1% from the previous quarter. That is 4.0 years of trailing revenue already under contract. Book-to-bill last quarter: 1.09.