# GE Aerospace (GE) — Stock CV

GE Aerospace is a $320B technology company. Revenue grew 21.7% over the last year, it keeps 18¢ of every dollar of sales as profit, and its net debt equals ~1.0 years of free cash flow. It trades at 35.6× earnings — around the middle of its own history.

> GE Aerospace is the global leader in designing, manufacturing, and servicing commercial aircraft turbine engines, along with partner Safran in their CFM joint venture.

## Identity

- **Ticker**: GE
- **Sector**: Technology
- **Industry**: Electronic & Other Electrical Equipment (No Computer Equip)
- **Headquarters**: EVENDALE, OH
- **Employees**: 57 000
- **Website**: https://www.geaerospace.com
- **Market cap**: $320B
- **Last price**: $308.20
- **Financial profile**: Solid

## Vitals (TTM)

- **Revenue**: $50.6B
- **Net income**: $8.97B
- **Free cash flow**: $8.40B
- **Net debt**: $8.10B
- **P/E**: 35.6
- **Revenue growth (YoY)**: 21.7%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 34 |
| Growth | 0 |
| Profitability | 90 |
| Health | 69 |
| Quality | 69 |
| Moat | 49 |

## Qualifications (beginner checklist) — 11 of 11 passed

- [x] Revenue growing — +21.7% YoY
- [x] Profitable — $8.97B TTM
- [x] Profit growing — +198.6% YoY
- [x] Generates cash — $8.40B TTM
- [x] Debt under control — ~1.0y of cash flow to repay
- [x] Established company — $320B market cap
- [x] Not printing shares — +1.0% shares over ~5y
- [x] Proven track record — 6/10 profitable years
- [x] Financially stable — Altman Z 3.1 — safe
- [x] Pays a dividend — yield 0.51%
- [x] Valuation not extreme — P/E 35.6

## Experience (career milestones)

- **Apr 2, 2024** — Split into three companies: GE Aerospace, GE HealthCare and GE Vernova — the conglomerate era ends
- **FY2023** — Best year on record: $9.48B net income
- **2022** — GE Aviation changed its name to GE Aerospace in a move executives say reflects the engine maker's…
- **2020** — CFM International holds 39% of the world's commercial aircraft engine market share (while GE Aerospace…
- **FY2019** — Positive free cash flow every year since: 7-year streak
- **FY2016** — First recorded profitable year: $8.83B net income
- **FY2016** — Revenue already above $100B: $124B in first reported year
- **2008** — GE Capital nearly sinks the company: finance arm becomes a crisis-era liability
- **2000** — Analysts further assert that it enables General Electric to acquire assets similar to those it desired in its failed…
- **1986** — It was revealed in August 1986 that the group would be reorganized and an advanced technology division created
- **1968** — As part of a reorganization of General Electric at the beginning of January 1968, the Flight Propulsion Division was…
- **1959** — The Aircraft Gas Turbine Division was renamed the Flight Propulsion Division in May 1959
- **1958** — The GE and Lockheed team that developed the J79 and the F-104 Mach 2 fighter aircraft received the 1958 Collier…
- **1945** — The Lynn plant became the Aircraft Gas Turbine Division
- **May 26, 1896** — Original Dow Jones component: one of the 12 founding members of the index
- **Apr 15, 1892** — General Electric formed: merger of Edison's and Thomson-Houston's electric companies

## Strengths

- Revenue growing 21.7% year over year
- Strong cash conversion — FCF is 16.6% of revenue
- Could repay net debt from ~1.2 years of free cash flow
- Interest covered 5.0× by operating earnings
- High returns on invested capital (ROIC 32.5%)

## Watch-outs

- Loss-making in 4 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $74.2B | -$6.52B | $2.08B |
| FY2022 | $76.6B | $225M | $4.54B |
| FY2023 | $68.0B | $9.48B | $3.58B |
| FY2024 | $38.7B | $6.56B | $3.68B |
| FY2025 | $45.9B | $8.70B | $7.26B |

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Source: https://stockcv.com/GE — derived from company filings; may be delayed or incomplete. Information, not investment advice.