Stock Analysis on Net
Stock Analysis on Net

GE Aerospace (NYSE:GE)

Common-Size Balance Sheet: Assets 

GE Aerospace, common-size consolidated balance sheet: assets

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Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Cash, cash equivalents and restricted cash 11.06 10.41 9.19 7.93 14.45
Investment securities 0.80 3.50 4.05 6.18 2.89
Current receivables 7.57 9.49 9.57 7.85 6.59
Financing receivables, net 0.00 0.00 0.00 0.00 0.50
Inventories, including deferred inventory costs 7.93 10.14 9.27 7.97 6.27
Other GE Capital receivables 0.00 0.00 0.00 0.00 1.31
Current contract assets 2.42 0.92 1.64 2.45 2.27
All other current assets 0.78 1.01 0.81 0.97 0.60
Assets of businesses held for sale 0.00 1.22 0.73 0.00 0.00
Current assets 30.56% 36.68% 35.27% 33.36% 34.88%
Investment securities 30.65 23.31 19.20 21.22 16.79
Financing receivables, net 0.00 0.00 0.00 0.00 0.70
Other GE Capital receivables 0.00 0.00 0.00 0.00 1.84
Property, plant and equipment, net, excluding ROU operating lease assets 5.05 6.53 6.57 6.54 16.44
ROU operating lease assets 0.86 1.13 1.14 1.31 1.18
Goodwill 6.93 8.21 13.74 13.17 10.07
Other intangible assets, net 3.46 3.49 4.06 4.69 3.86
Contract and other deferred assets 3.92 3.32 3.20 3.08 2.32
All other assets 11.30 9.81 9.05 9.57 5.76
Deferred income taxes 5.77 6.49 6.23 5.46 4.77
Assets of discontinued operations 1.50 1.04 1.54 1.60 1.39
Non-current assets 69.44% 63.32% 64.73% 66.64% 65.12%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Cash, cash equivalents and restricted cash
This category experienced a decline from 14.45% in 2020 to 7.93% in 2021, followed by a gradual increase, reaching 11.06% by 2024. This indicates an initial reduction in liquid assets, later partially recovered over the subsequent years.
Investment securities
Investment securities showed an initial rise from 2.89% in 2020 to 6.18% in 2021, but then decreased steadily to 0.8% in 2024 as a percentage of total assets, suggesting a strategic reduction or reallocation in this category over time.
Current receivables
This component increased from 6.59% in 2020 to a peak of 9.57% in 2022, then declined to 7.57% by 2024, reflecting variability in receivables management or sales on credit.
Inventories, including deferred inventory costs
Inventory levels increased from 6.27% in 2020, peaking at 10.14% in 2023, before declining to 7.93% in 2024. This may indicate buildup and later normalization of stock levels.
Current contract assets
There was a slight increase from 2.27% in 2020 to 2.45% in 2021, then a drop to 0.92% in 2023, followed by a recovery to 2.42% in 2024. This pattern may reflect fluctuations in contract-related revenue recognition or project timing.
Current assets
Total current assets remained relatively stable from 34.88% in 2020 to a peak of 36.68% in 2023, then decreased to 30.56% in 2024, reflecting changes in the composition or management of liquid and short-term assets.
Investment securities (non-current)
Non-current investment securities increased notably from 16.79% in 2020 to 30.65% in 2024, signifying a strategic focus on longer-term investment assets as a share of total assets.
Property, plant and equipment, net
There was a significant decrease in property, plant, and equipment from 16.44% in 2020 to 5.05% in 2024, indicating possible asset disposals, depreciation, or changes in operational asset intensity.
Right-of-use (ROU) operating lease assets
ROU assets remained fairly stable between 1.18% and 1.31% initially, then declined to 0.86% in 2024, which may point to adjustments in lease arrangements or lease portfolio size.
Goodwill
Goodwill increased from 10.07% in 2020, peaking at 13.74% in 2022, then declined significantly to 6.93% in 2024. This suggests impairment charges, divestitures, or revaluation of acquired intangible assets.
Other intangible assets, net
Other intangible assets showed a slight decrease from 3.86% in 2020 to 3.46% in 2024, indicating either amortization or limited new intangible asset acquisitions.
Contract and other deferred assets
This category exhibited a steady increase from 2.32% in 2020 to 3.92% in 2024, possibly linked to growing deferred costs or accrued revenues.
All other assets
All other assets rose from 5.76% in 2020 to 11.3% in 2024, showing a substantial increase that may be attributed to miscellaneous or less categorized asset growth.
Deferred income taxes
Deferred income taxes increased from 4.77% in 2020 to a peak of 6.49% in 2023, then slightly decreased to 5.77% in 2024, reflecting timing differences in tax recognition.
Assets of discontinued operations
These assets fluctuated modestly around 1.3% to 1.6%, showing minor shifts related to businesses held for discontinuation or disposal.
Non-current assets
Non-current assets remained stable around 65% to 66% initially, dipped to 63.32% in 2023, then increased to 69.44% in 2024, indicating variance in long-term asset holdings relative to total assets.