Price to Earnings (P/E)
since 2005
Calculation
GE Aerospace, P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income (loss) attributable to common shareowners1 (in millions) | ÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jan 29, 2026 | 36.01 | = | 298.86 | ÷ | 8.30 | 8.30 | = | 8,704 | ÷ | 1,048,813,612 | |
| Feb 3, 2025 | 33.42 | = | 204.11 | ÷ | 6.11 | 6.11 | = | 6,556 | ÷ | 1,073,290,505 | |
| Feb 2, 2024 | 16.18 | = | 136.54 | ÷ | 8.44 | 8.44 | = | 9,186 | ÷ | 1,088,334,304 | |
| Feb 10, 2023 | — | = | 81.29 | ÷ | -0.06 | -0.06 | = | -64 | ÷ | 1,089,286,553 | |
| Feb 11, 2022 | — | = | 96.83 | ÷ | -6.15 | -6.15 | = | -6,757 | ÷ | 1,099,321,882 | |
| Feb 12, 2021 | 19.67 | = | 93.84 | ÷ | 4.77 | 4.77 | = | 5,230 | ÷ | 1,095,992,750 | |
| Feb 24, 2020 | — | = | 94.88 | ÷ | -4.98 | -4.98 | = | -5,439 | ÷ | 1,092,529,000 | |
| Feb 26, 2019 | — | = | 85.28 | ÷ | -20.96 | -20.96 | = | -22,802 | ÷ | 1,088,135,013 | |
| Feb 23, 2018 | — | = | 115.92 | ÷ | -5.73 | -5.73 | = | -6,222 | ÷ | 1,085,322,000 | |
| Feb 24, 2017 | 32.22 | = | 241.52 | ÷ | 7.50 | 7.50 | = | 8,176 | ÷ | 1,090,597,875 | |
| Feb 26, 2016 | — | = | 235.20 | ÷ | -5.27 | -5.27 | = | -6,145 | ÷ | 1,166,325,916 | |
| Feb 27, 2015 | 17.17 | = | 207.92 | ÷ | 12.11 | 12.11 | = | 15,233 | ÷ | 1,258,113,686 | |
| Feb 27, 2014 | 19.59 | = | 204.00 | ÷ | 10.41 | 10.41 | = | 13,057 | ÷ | 1,254,141,250 | |
| Feb 26, 2013 | 17.57 | = | 184.40 | ÷ | 10.49 | 10.49 | = | 13,641 | ÷ | 1,299,783,875 | |
| Feb 24, 2012 | 15.52 | = | 153.92 | ÷ | 9.92 | 9.92 | = | 13,120 | ÷ | 1,322,657,125 | |
| Feb 25, 2011 | 19.49 | = | 166.56 | ÷ | 8.55 | 8.55 | = | 11,344 | ÷ | 1,327,311,125 | |
| Feb 19, 2010 | 16.09 | = | 129.36 | ÷ | 8.04 | 8.04 | = | 10,725 | ÷ | 1,333,727,625 | |
| Feb 18, 2009 | 6.62 | = | 86.88 | ÷ | 13.13 | 13.13 | = | 17,335 | ÷ | 1,320,053,125 | |
| Feb 20, 2008 | 15.45 | = | 274.88 | ÷ | 17.79 | 17.79 | = | 22,208 | ÷ | 1,248,208,625 | |
| Feb 27, 2007 | 17.11 | = | 277.28 | ÷ | 16.20 | 16.20 | = | 20,829 | ÷ | 1,285,391,250 | |
| Mar 3, 2006 | 21.07 | = | 264.48 | ÷ | 12.55 | 12.55 | = | 16,353 | ÷ | 1,302,928,096 |
Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of GE Aerospace Annual Report.
The price-to-earnings (P/E) ratio, calculated from share price and earnings per share, exhibits considerable fluctuation over the observed period. Initial values indicate a relatively stable P/E ratio in the early years, followed by significant volatility, particularly during and after 2008. A general observation is that the P/E ratio appears sensitive to changes in both share price and, crucially, earnings per share.
- Early Period (2006-2008)
- From 2006 to 2008, the P/E ratio demonstrated a gradual decline, moving from 21.07 to 15.45. This decrease occurred alongside increasing earnings per share, suggesting that while the share price also increased, earnings growth outpaced price appreciation during this timeframe.
- Financial Crisis and Immediate Aftermath (2009-2011)
- A dramatic decrease in the P/E ratio is evident in 2009, falling to 6.62. This was primarily driven by a substantial decline in share price, despite earnings remaining relatively stable. The P/E ratio subsequently increased in 2010 and 2011, reflecting a recovery in share price and modest earnings growth. However, the ratio remained below levels seen prior to the financial crisis.
- Volatility and Negative Earnings (2012-2017)
- The period from 2012 to 2017 is characterized by fluctuating P/E ratios. A negative earnings per share value in 2016 resulted in a non-calculable P/E ratio, and negative earnings in 2017 also led to a missing value. The P/E ratio peaked at 32.22 in 2017, coinciding with a period of positive, albeit relatively low, earnings.
- Recent Years (2018-2026)
- From 2018 through 2026, the P/E ratio experienced further volatility. Negative earnings in 2018, 2019, 2020, and 2022 resulted in missing P/E ratio values. The most recent values, from 2023 to 2026, show a rising trend, increasing from 16.18 to 36.01. This increase is attributable to both rising share prices and improving earnings per share.
Overall, the P/E ratio demonstrates a strong correlation with both share price movements and earnings performance. Periods of negative or declining earnings have a significant impact on the ratio, often resulting in either uncalculable or highly inflated values. The recent upward trend suggests increasing investor confidence and potentially improved future earnings expectations.
Comparison to Competitors
GE Aerospace, P/E, long-term trends, comparison to competitors
| GE Aerospace | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|---|---|
| Jan 29, 2026 | 36.01 | 97.12 | — | — | — | 28.55 | — |
| Feb 3, 2025 | 33.42 | — | 15.65 | 30.00 | 23.10 | 20.18 | 36.25 |
| Feb 2, 2024 | 16.18 | — | 15.55 | 35.88 | 22.73 | 15.35 | 38.31 |
| Feb 10, 2023 | — | — | 19.15 | 27.93 | 26.97 | 20.48 | 27.59 |
| Feb 11, 2022 | — | — | 16.82 | 27.77 | 23.14 | 16.70 | 36.79 |
| Feb 12, 2021 | 19.67 | — | 36.80 | 37.46 | 29.63 | 13.44 | — |
| Feb 24, 2020 | — | — | 12.36 | 18.06 | 20.97 | 19.87 | 24.41 |
| Feb 26, 2019 | — | 21.87 | 12.42 | 15.92 | 16.02 | 16.88 | 19.74 |
| Feb 23, 2018 | — | 24.68 | 126.80 | 11.90 | 67.20 | 48.70 | 21.97 |
| Feb 24, 2017 | 32.22 | 20.50 | — | 16.96 | 19.29 | 14.14 | 17.55 |
| Feb 26, 2016 | — | 14.89 | 18.07 | 13.17 | 16.70 | 18.36 | 9.31 |
| Feb 27, 2015 | 17.17 | 19.15 | 14.01 | 18.73 | 19.27 | 16.86 | 17.52 |
| Feb 27, 2014 | 19.59 | 21.10 | 16.25 | 19.35 | 18.91 | 17.56 | 17.51 |
| Feb 26, 2013 | 17.57 | 14.71 | 11.02 | 23.99 | 18.78 | 10.34 | 16.07 |
| Feb 24, 2012 | 15.52 | 14.09 | 15.11 | 12.83 | 22.54 | 10.81 | 15.29 |
| Feb 25, 2011 | 19.49 | 16.17 | 24.14 | 19.59 | 22.48 | 9.58 | 17.84 |
| Feb 19, 2010 | 16.09 | 33.40 | 40.66 | 29.60 | 13.44 | 9.56 | 16.33 |
| Feb 18, 2009 | 6.62 | 11.63 | 4.51 | 5.65 | 8.71 | 8.47 | 9.57 |
| Feb 20, 2008 | 15.45 | 15.99 | 12.54 | 11.89 | 17.07 | 14.15 | 16.61 |
| Feb 27, 2007 | 17.11 | 32.40 | 12.28 | 12.47 | 18.37 | 16.95 | 18.16 |
| Mar 3, 2006 | 21.07 | 22.62 | 17.17 | 12.82 | 20.71 | 17.45 | 18.76 |
Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Capital Goods)
GE Aerospace, P/E, long-term trends, comparison to sector (capital goods)
| GE Aerospace | Capital Goods | |
|---|---|---|
| Jan 29, 2026 | 36.01 | — |
| Feb 3, 2025 | 33.42 | 41.71 |
| Feb 2, 2024 | 16.18 | 25.10 |
| Feb 10, 2023 | — | 40.21 |
| Feb 11, 2022 | — | 57.31 |
| Feb 12, 2021 | 19.67 | 123.55 |
| Feb 24, 2020 | — | 39.03 |
| Feb 26, 2019 | — | 56.00 |
| Feb 23, 2018 | — | 55.16 |
| Feb 24, 2017 | 32.22 | 23.62 |
| Feb 26, 2016 | — | 33.10 |
| Feb 27, 2015 | 17.17 | 17.47 |
| Feb 27, 2014 | 19.59 | 18.85 |
| Feb 26, 2013 | 17.57 | 15.74 |
| Feb 24, 2012 | 15.52 | 15.20 |
| Feb 25, 2011 | 19.49 | 18.46 |
| Feb 19, 2010 | 16.09 | 17.22 |
| Feb 18, 2009 | 6.62 | 7.48 |
| Feb 20, 2008 | 15.45 | 15.28 |
| Feb 27, 2007 | 17.11 | 17.63 |
| Mar 3, 2006 | 21.07 | 20.11 |
Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Industrials)
GE Aerospace, P/E, long-term trends, comparison to industry (industrials)
| GE Aerospace | Industrials | |
|---|---|---|
| Jan 29, 2026 | 36.01 | — |
| Feb 3, 2025 | 33.42 | 28.42 |
| Feb 2, 2024 | 16.18 | 24.85 |
| Feb 10, 2023 | — | 36.06 |
| Feb 11, 2022 | — | 35.59 |
| Feb 12, 2021 | 19.67 | — |
| Feb 24, 2020 | — | 43.95 |
| Feb 26, 2019 | — | 33.70 |
| Feb 23, 2018 | — | 29.83 |
| Feb 24, 2017 | 32.22 | 22.92 |
| Feb 26, 2016 | — | 22.89 |
| Feb 27, 2015 | 17.17 | 18.79 |
| Feb 27, 2014 | 19.59 | 19.13 |
| Feb 26, 2013 | 17.57 | 17.77 |
| Feb 24, 2012 | 15.52 | 15.75 |
| Feb 25, 2011 | 19.49 | 18.72 |
| Feb 19, 2010 | 16.09 | 19.17 |
| Feb 18, 2009 | 6.62 | 9.73 |
| Feb 20, 2008 | 15.45 | 16.93 |
| Feb 27, 2007 | 17.11 | 11.65 |
| Mar 3, 2006 | 21.07 | 50.62 |
Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).