GEGE Aerospace
Is the business good?
The checks split: earnings fully cash-backed (1.2×) and margins widening, but returns that lean on debt.
Operating profit is fully backed by cash.
Negative operating leverage, costs are rising faster than sales, squeezing margins as it grows.
Leverage-amplified, a high assets-to-equity ratio does much of the work. ROE 49% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is GE?
GE Aerospace earns 26% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
Return on invested capital · cost of capital 9.0% · 17 points above what the capital costs: growth creates value
- Operating margin
- 18%
Operating margin · Aerospace & Defense median 9.6% · 12 months to Q3 2026
- Cash conversion
- 1.17×
Cash conversion · 1.07× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −2.3%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | −7.2% |
| FY2021 | −15% |
| FY2022 | 2.4% |
| FY2023 | 11% |
| FY2024 | 14% |
| FY2025 | 19% |
Details›
- Operating margin12 months to Q3 2026
- 18%
- Net margin12 months to Q3 2026
- 17%
- Free cash flow margin
- 15%
- R&D as % of revenue
- 3.4%
- Revenue, trailing twelve months
- $52.6B
- Free cash flow, trailing twelve months
- $8.02B
- Net income, trailing twelve months
- $9.10B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 26%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from GE and who it buys from, as the companies report it.
- U.S. government10%
Share of revenue · FY2025 10-K
- BABoeing
Named in GE’s FY2025 10-K
- DALDelta Air Lines
Named in DAL’s FY2025 10-K
- PKEPark Aerospace Corp39%
GE is 39% of its revenue · FY2026 10-K
- HWMHowmet Aerospace11%
GE is 11% of its revenue · FY2025 10-K
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; GE’s own figures are from its FY2025 10-K. Smaller customers and suppliers go unreported. A link without a share is named in one of the two companies’ annual reports, without a figure.
Aerospace & Defense
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