GE Aerospace (NYSE:GE)

Current Assets

The current assets exhibited a downward trend over the observed period. Starting at 88,412 million USD as of December 31, 2020, the amount decreased to 66,348 million USD in 2021 and remained relatively stable in 2022 at 66,234 million USD. Subsequently, a further decline was noted, reaching 59,799 million USD in 2023 and significantly dropping to 37,635 million USD by the end of 2024. This substantial reduction, especially between 2023 and 2024, suggests a notable decrease in the liquidity position or short-term resources available to the company.

Adjusted Current Assets

Adjusted current assets mirrored the pattern observed in current assets, beginning at 89,576 million USD in 2020. The figures dropped to 67,422 million USD in 2021, followed by a relatively minimal decrease to 67,093 million USD in 2022. A continued downward movement was observed in 2023 with assets amounting to 60,446 million USD. By the end of 2024, adjusted current assets declined markedly to 37,741 million USD. The trend closely follows that of current assets, indicating consistency between reported and adjusted figures, and highlighting a pronounced reduction in adjusted short-term assets especially in the last reported year.

Total Assets

The total assets have shown a consistent downward trend over the five-year period analyzed. Starting from US$253,452 million in 2020, there has been a marked decrease each year, reaching US$123,140 million by the end of 2024. This represents a significant reduction, amounting to more than a 50% decline overall. The most notable annual decreases occurred between 2020 and 2021, and again between 2023 and 2024.

Adjusted Total Assets

Adjusted total assets follow a similar declining pattern as total assets. Beginning at US$242,535 million in 2020, the value has steadily decreased each period to US$116,135 million in 2024. The reduction in adjusted total assets also exceeds 50% across the five years. The rate of decline is consistent with the trend observed for total assets, reinforcing the overall contraction in asset base when adjustments are taken into account.

Summary of Trends

Both total and adjusted total assets depict a pronounced contraction in the company's asset base over the analyzed timeframe. This could indicate ongoing divestitures, asset sales, or other restructuring activities leading to asset reduction. The parallel movement between total and adjusted total assets suggests that the adjustments applied do not materially alter the observed downward trend in asset values.

Current liabilities

Current liabilities exhibit a fluctuating trend over the five-year period. Beginning at 56,069 million US dollars at the end of 2020, the value declined to 51,953 million in 2021, indicating a reduction in short-term obligations. However, in 2022, current liabilities increased to 56,947 million, nearly returning to the 2020 level. This upward movement reversed again in 2023 with a decline to 50,876 million, followed by a more pronounced decrease in 2024 to 34,392 million. The overall trend from 2020 to 2024 suggests a significant reduction in current liabilities, particularly evident in the last observed year.

Adjusted current liabilities

Adjusted current liabilities show a similar pattern to current liabilities. Starting at 53,115 million US dollars in 2020, the figure decreased to 49,027 million in 2021. A subsequent increase occurred in 2022, rising to 53,727 million. This was followed by a decrease to 48,252 million in 2023, and a substantial reduction to 33,441 million by the end of 2024. The adjusted values consistently remain slightly below the unadjusted current liabilities, reflecting some form of adjustment that lowers the reported short-term liabilities. The notable decline in adjusted liabilities in 2024 mirrors the sharp decrease in total current liabilities, which may indicate improved liquidity or settlement of short-term obligations.

The analysis of the liability data over the five-year period indicates a consistent downward trend. Both total liabilities and adjusted total liabilities demonstrate steady decreases from 2020 through 2024.

Total liabilities

Starting at 216,378 million US dollars in 2020, total liabilities decline sharply by 2021 to 157,262 million US dollars. This reduction continues each year, reaching 103,576 million US dollars by 2024. The overall change reflects a substantial reduction of approximately 52% over the five-year span, indicating significant deleveraging or liability management efforts.

Adjusted total liabilities

Adjusted total liabilities follow a similar pattern, beginning at 210,766 million US dollars in 2020 and decreasing to 101,612 million US dollars by 2024. The decreases year-on-year closely mirror the trend observed in total liabilities, with a gradual and continuous decline that suggests improved financial stability or restructuring activities.

In summary, the data portrays a robust reduction in both categories of liabilities, consistent over the entire period analyzed. This trend could indicate strengthening financial health, reduced reliance on borrowed funds, or strategic initiatives to optimize the capital structure.

The financial data reveals a consistent decline in both shareholders' equity and adjusted total equity over the analyzed period from December 31, 2020, to December 31, 2024. Initially, there was an increase in these metrics from 2020 to 2021, followed by a downward trend in the subsequent years.

Shareholders' Equity

The value increased from $35,552 million in 2020 to $40,310 million in 2021, indicating a positive growth phase during that time. However, from 2021 onwards, the shareholders' equity decreased progressively, reaching $36,366 million in 2022, then $27,378 million in 2023, and further declining to $19,342 million by the end of 2024. This downward trajectory suggests a reduction in the net asset value attributable to shareholders over the last three years.

Adjusted Total Equity

Adjusted total equity followed a parallel pattern, rising from $31,768 million in 2020 to $37,546 million in 2021. Afterward, it decreased to $32,847 million in 2022, continued falling to $22,614 million in 2023, and dropped further to $14,523 million by the end of 2024. The sharper decline in adjusted total equity compared to shareholders' equity indicates a more pronounced erosion in the adjusted measure of equity, possibly reflecting adjustments for items affecting the underlying equity value.

Overall, the data portrays a significant deterioration in the equity base over time, especially in the last few years. The initial growth observed until 2021 was not sustained, and the subsequent decline may warrant further investigation into factors such as profitability, asset impairments, dividend distributions, or other corporate actions impacting equity levels.

The data reveals a consistent decline in both debt and equity figures over the five-year period examined. Total reported debt demonstrates a significant reduction, falling from $75,066 million in 2020 to $19,273 million in 2024. This represents a substantial deleveraging trend, with the most pronounced decrease occurring between 2020 and 2021, followed by a more gradual decline in subsequent years.

Shareholders’ equity similarly shows a downward trajectory but with notable fluctuations. Equity increased from $35,552 million in 2020 to a peak of $40,310 million in 2021, suggesting enhanced retained earnings or capital injections during that year. However, from 2021 onwards, equity declined steadily, reaching $19,342 million in 2024, indicating possible losses, dividends, or capital reductions.

Total reported capital, defined as the sum of debt and equity, correspondingly decreases from $110,618 million in 2020 to $38,615 million in 2024. The sharp decline reflects the combined impact of lower debt and equity levels, highlighting a substantial contraction in the capital base over the period.

Adjusted metrics display similar patterns. Adjusted total debt decreases from $78,039 million in 2020 to $20,378 million in 2024, affirming the trend captured by reported debt figures. Adjusted total equity followed a similar trajectory, rising from $31,768 million in 2020 to $37,546 million in 2021, then declining to $14,523 million by 2024. Adjusted total capital falls from $109,807 million in 2020 to $34,901 million in 2024.

The parallel movement in reported and adjusted figures suggests consistency in the adjustments made, without significant divergence in capital structure interpretation. Overall, the data reflects a pronounced reduction in financial leverage and equity base, indicating a potentially cautious financial strategy or structural shifts impacting capital resources.

The analysis of the financial data over the five-year period reveals notable trends in sales performance. The figures for both "Sales of equipment and services" and the "Adjusted sales of equipment and services" generally move in parallel, indicating consistency between reported and adjusted figures for this category.

Sales of Equipment and Services

The sales figures show a decline from 73,022 million US dollars in 2020 to 71,090 million in 2021, followed by a slight recovery to 73,602 million in 2022. Thereafter, a more pronounced decrease occurs, with sales dropping to 64,565 million in 2023 and then sharply declining to 35,121 million in 2024. This downward trend in the last two years suggests a significant reduction in sales volume or value, which may reflect market challenges or strategic shifts.

Adjusted Sales of Equipment and Services

Adjusted sales closely track the reported sales, starting at 73,538 million US dollars in 2020 and following a similar trajectory: a dip to 71,356 million in 2021, peaking slightly at 73,736 million in 2022, then dropping to 64,504 million in 2023 and falling sharply to 35,098 million in 2024. The slight difference between adjusted and reported sales is minimal, indicating that adjustments have only a marginal effect on the reported sales figures.

Overall, the data reflect relative stability in the earlier years followed by a significant downturn starting in 2023. The nearly 50% reduction in sales from 2023 to 2024 warrants further investigation into underlying factors such as operational performance, market conditions, or external economic influences that may have impacted business activities.

Net earnings (loss) attributable to the Company

The net earnings demonstrate significant volatility over the five-year period. In 2020, net earnings were a positive $5,704 million, followed by a substantial loss of $6,520 million in 2021. In 2022, the company returned to a marginal profit of $225 million, then experienced a remarkable increase to $9,481 million in 2023. In 2024, earnings decreased but remained strong at $6,556 million. This pattern indicates considerable fluctuations in profitability with a recovery and significant growth occurring after the downturn in 2021.

Adjusted net earnings (loss)

Adjusted net earnings exhibit a different trend compared to net earnings. Starting at $5,437 million in 2020, adjusted earnings increased sharply to $7,950 million in 2021 despite the net loss in that year, suggesting adjustments improved the earnings outlook. However, in 2022, there was a sharp reversal, with adjusted earnings declining to a loss of $2,405 million. In 2023, there was a recovery to $5,689 million, followed by a further increase to $8,997 million in 2024. Adjusted figures show more pronounced movements and suggest that the company’s core operations, after adjustments, faced challenges especially in 2022 but recovered strongly in subsequent years.