GE Aerospace (GE) financial statements
GE Aerospace reported revenue of $45.9B in fiscal 2025, down 9.3% a year over 9 years.
Net income was $8.7B and the operating margin 18.6%, against -5.8% in 2016.
Free cash flow was $7.3B, and the company returned $7.6B in net buybacks.
The diluted share count fell 6% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from GE Aerospace's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $110.2B | $111.0B | $113.5B | $90.2B | $75.8B | $56.5B | $29.1B | $35.3B | $38.7B | $45.9B |
| Cost of revenue | $62.4B | $64.3B | $72.8B | $66.9B | $60.4B | — | — | — | — | — |
| Gross profit | $47.7B | $46.6B | $40.7B | $23.3B | $15.4B | — | — | — | — | — |
| Research and development | $5.4B | $5.5B | $3.4B | $3.1B | $2.6B | $1.7B | $808M | $1.0B | $1.3B | $1.6B |
| Selling, general and admin | $17.8B | $14.3B | $14.6B | $13.8B | $12.6B | $8.2B | $3.7B | $4.0B | $4.4B | $4.1B |
| Operating income | -$6.4B | -$1.7B | -$6.8B | -$2.5B | -$5.4B | -$8.4B | $711M | $3.7B | $5.4B | $8.5B |
| Pre-tax income | $7.0B | -$11.3B | -$21.0B | -$54M | $6.0B | -$5.7B | $1.5B | $10.4B | $7.6B | $10.0B |
| Income tax | -$1.1B | -$2.8B | $93M | $552M | -$487M | -$757M | $169M | $994M | $962M | $1.4B |
| Net income | $7.5B | -$8.5B | -$22.4B | -$5.0B | $5.7B | -$6.3B | $336M | $9.5B | $6.6B | $8.7B |
| EPS (diluted) | $6.00 | -$8.24 | -$20.96 | -$4.99 | $4.63 | -$6.00 | $0.05 | $8.36 | $5.99 | $8.14 |
| Diluted shares | 1.14B | 1.09B | 1.09B | 1.09B | 1.09B | 1.10B | 1.10B | 1.10B | 1.09B | 1.07B |
| Gross margin | 43.3% | 42.0% | 35.9% | 25.8% | 20.3% | — | — | — | — | — |
| Operating margin | -5.8% | -1.6% | -6.0% | -2.8% | -7.2% | -14.9% | 2.4% | 10.5% | 13.8% | 18.6% |
| Net margin | 6.8% | -7.6% | -19.7% | -5.5% | 7.5% | -11.2% | 1.2% | 26.8% | 16.9% | 19.0% |
Balance sheet
Fiscal years, from GE Aerospace's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $48.1B | $43.3B | $31.1B | $35.8B | $36.5B | $15.8B | $15.8B | $15.2B | $13.6B | $12.4B |
| Receivables | $24.1B | $24.2B | $14.6B | $16.6B | $16.7B | $15.6B | $14.8B | $8.7B | $9.3B | $11.8B |
| Inventory | $22.4B | $19.4B | $13.8B | $17.2B | $15.9B | $15.8B | $14.9B | $8.3B | $9.8B | $11.9B |
| Total current assets | — | — | — | $103.1B | $84.9B | $66.3B | $58.4B | $42.6B | $37.6B | $40.6B |
| Property, plant and equipment | $50.5B | $53.9B | $43.6B | $45.9B | $44.7B | — | — | — | — | — |
| Goodwill | $70.4B | $58.8B | $34.0B | $25.9B | $25.5B | $13.3B | $8.8B | $8.9B | $8.5B | $9.1B |
| Total assets | $359.1B | $369.2B | $311.1B | $265.2B | $256.2B | $198.9B | $188.9B | $173.3B | $123.1B | $130.2B |
| Total current liabilities | — | — | — | $78.9B | $54.6B | $52.0B | $49.4B | $32.1B | $34.4B | $39.0B |
| Long-term debt | $105.1B | $108.6B | $88.9B | $67.2B | $70.2B | $30.8B | $20.3B | $19.4B | $17.2B | $18.8B |
| Total liabilities | $284.7B | $292.4B | $259.6B | $235.3B | $219.1B | $157.3B | $153.9B | $144.7B | $103.6B | $111.3B |
| Shareholders' equity | $70.2B | $56.0B | $31.0B | $28.3B | $35.6B | $40.3B | $33.7B | $27.4B | $19.3B | $18.7B |
| Net debt | $57.0B | $65.3B | $57.8B | $31.4B | $38.4B | $19.4B | $8.2B | $5.3B | $5.7B | $8.1B |
Cash flow
Fiscal years, from GE Aerospace's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.2B | $6.6B | $5.0B | $8.7B | $3.6B | $3.5B | $5.9B | $5.2B | $4.7B | $8.5B |
| Capital spending | $7.9B | $7.1B | $6.9B | $2.5B | $1.7B | $1.4B | $1.5B | $862M | $1.0B | $1.3B |
| Free cash flow | -$6.8B | -$542M | -$2.0B | $6.2B | $1.8B | $2.1B | $4.4B | $4.3B | $3.7B | $7.3B |
| Stock-based compensation | — | — | $336M | $400M | $353M | $305M | $143M | $192M | $286M | $325M |
| Share buybacks (net) | $22.6B | — | — | — | — | -$107M | -$1.0B | -$1.2B | -$5.8B | -$7.6B |
| Net borrowing | — | — | — | — | — | — | — | $0 | $0 | $2.0B |
| Free cash flow margin | -6.2% | -0.5% | -1.7% | 6.9% | 2.4% | 3.8% | 15.2% | 12.2% | 9.5% | 15.8% |
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Open GE in InvestinglyQuestions
What was GE Aerospace's revenue in 2025?
$45.9B in fiscal 2025, from its 10-K filing.
How much free cash flow does GE Aerospace generate?
$7.3B in fiscal 2025 (operating cash flow minus capital spending).
From GE Aerospace's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.