Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
GE Aerospace, solvency ratios (quarterly data)
Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | GE Aerospace debt to equity ratio improved from Q4 2023 to Q1 2024 but then deteriorated significantly from Q1 2024 to Q2 2024. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | GE Aerospace debt to capital ratio improved from Q4 2023 to Q1 2024 but then deteriorated significantly from Q1 2024 to Q2 2024. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | GE Aerospace debt to assets ratio improved from Q4 2023 to Q1 2024 but then deteriorated significantly from Q1 2024 to Q2 2024. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | GE Aerospace financial leverage ratio decreased from Q4 2023 to Q1 2024 but then increased from Q1 2024 to Q2 2024 exceeding Q4 2023 level. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | GE Aerospace interest coverage ratio deteriorated from Q4 2023 to Q1 2024 but then slightly improved from Q1 2024 to Q2 2024. |
Debt to Equity
GE Aerospace, debt to equity calculation (quarterly data)
| Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Short-term borrowings | 1,700) | 1,032) | 1,253) | 1,334) | 1,882) | 2,262) | 3,757) | 4,285) | 4,947) | 4,985) | 4,361) | 5,459) | 4,293) | 4,468) | 4,778) | 6,429) | 9,455) | 18,766) | 23,727) | 18,544) | 17,043) | 17,303) | |||||||
| Long-term borrowings | 17,973) | 19,493) | 19,711) | 19,488) | 19,900) | 20,159) | 28,593) | 26,121) | 27,571) | 28,649) | 30,824) | 57,429) | 59,231) | 66,890) | 70,288) | 73,034) | 72,423) | 66,388) | 67,155) | 74,701) | 88,735) | 90,223) | |||||||
| Total debt | 19,673) | 20,525) | 20,964) | 20,822) | 21,782) | 22,421) | 32,350) | 30,406) | 32,518) | 33,634) | 35,185) | 62,888) | 63,524) | 71,358) | 75,066) | 79,463) | 81,878) | 85,154) | 90,882) | 93,245) | 105,778) | 107,526) | |||||||
| Shareholders’ equity | 18,598) | 29,855) | 27,378) | 28,665) | 31,194) | 31,652) | 36,366) | 31,475) | 34,649) | 39,005) | 40,310) | 37,477) | 33,487) | 33,585) | 35,552) | 33,269) | 33,674) | 35,284) | 28,316) | 27,935) | 35,816) | 35,161) | |||||||
| Solvency Ratio | |||||||||||||||||||||||||||||
| Debt to equity1 | 1.06 | 0.69 | 0.77 | 0.73 | 0.70 | 0.71 | 0.89 | 0.97 | 0.94 | 0.86 | 0.87 | 1.68 | 1.90 | 2.12 | 2.11 | 2.39 | 2.43 | 2.41 | 3.21 | 3.34 | 2.95 | 3.06 | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | |||||||||||||||||||||||||||||
| Boeing Co. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 117.95 | |||||||
| Caterpillar Inc. | 2.18 | 2.15 | 1.94 | 1.81 | 2.07 | 2.04 | 2.33 | 2.34 | 2.35 | 2.20 | 2.29 | 2.21 | 2.23 | 2.30 | 2.42 | 2.55 | 2.81 | 2.61 | 2.58 | 2.54 | 2.45 | 2.32 | |||||||
| Eaton Corp. plc | 0.51 | 0.48 | 0.49 | 0.50 | 0.52 | 0.50 | 0.51 | 0.56 | 0.59 | 0.58 | 0.52 | 0.57 | 0.79 | 0.68 | 0.54 | 0.57 | 0.58 | 0.59 | 0.52 | 0.51 | 0.50 | 0.47 | |||||||
| Honeywell International Inc. | 1.65 | 1.53 | 1.29 | 1.18 | 1.24 | 1.13 | 1.17 | 0.96 | 1.09 | 1.05 | 1.06 | 1.19 | 1.19 | 1.19 | 1.28 | 1.23 | 1.22 | 0.91 | 0.87 | 1.03 | 0.91 | 0.86 | |||||||
| Lockheed Martin Corp. | 3.12 | 2.92 | 2.55 | 1.88 | 1.90 | 1.62 | 1.68 | 0.96 | 1.02 | 1.16 | 1.07 | 1.21 | 1.87 | 1.93 | 2.02 | 2.56 | 3.38 | 3.68 | 4.05 | 3.48 | 4.75 | 5.65 | |||||||
| RTX Corp. | 0.71 | 0.71 | 0.73 | 0.51 | 0.49 | 0.47 | 0.44 | 0.48 | 0.45 | 0.43 | 0.43 | 0.44 | 0.44 | 0.44 | 0.44 | 0.48 | 0.49 | 1.18 | 1.04 | 1.10 | 1.11 | 1.14 | |||||||
Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q2 2024 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= 19,673 ÷ 18,598 = 1.06
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | GE Aerospace debt to equity ratio improved from Q4 2023 to Q1 2024 but then deteriorated significantly from Q1 2024 to Q2 2024. |
Debt to Capital
GE Aerospace, debt to capital calculation (quarterly data)
| Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Short-term borrowings | 1,700) | 1,032) | 1,253) | 1,334) | 1,882) | 2,262) | 3,757) | 4,285) | 4,947) | 4,985) | 4,361) | 5,459) | 4,293) | 4,468) | 4,778) | 6,429) | 9,455) | 18,766) | 23,727) | 18,544) | 17,043) | 17,303) | |||||||
| Long-term borrowings | 17,973) | 19,493) | 19,711) | 19,488) | 19,900) | 20,159) | 28,593) | 26,121) | 27,571) | 28,649) | 30,824) | 57,429) | 59,231) | 66,890) | 70,288) | 73,034) | 72,423) | 66,388) | 67,155) | 74,701) | 88,735) | 90,223) | |||||||
| Total debt | 19,673) | 20,525) | 20,964) | 20,822) | 21,782) | 22,421) | 32,350) | 30,406) | 32,518) | 33,634) | 35,185) | 62,888) | 63,524) | 71,358) | 75,066) | 79,463) | 81,878) | 85,154) | 90,882) | 93,245) | 105,778) | 107,526) | |||||||
| Shareholders’ equity | 18,598) | 29,855) | 27,378) | 28,665) | 31,194) | 31,652) | 36,366) | 31,475) | 34,649) | 39,005) | 40,310) | 37,477) | 33,487) | 33,585) | 35,552) | 33,269) | 33,674) | 35,284) | 28,316) | 27,935) | 35,816) | 35,161) | |||||||
| Total capital | 38,271) | 50,380) | 48,342) | 49,487) | 52,976) | 54,073) | 68,716) | 61,881) | 67,167) | 72,639) | 75,495) | 100,365) | 97,011) | 104,943) | 110,618) | 112,732) | 115,552) | 120,438) | 119,198) | 121,180) | 141,594) | 142,687) | |||||||
| Solvency Ratio | |||||||||||||||||||||||||||||
| Debt to capital1 | 0.51 | 0.41 | 0.43 | 0.42 | 0.41 | 0.41 | 0.47 | 0.49 | 0.48 | 0.46 | 0.47 | 0.63 | 0.65 | 0.68 | 0.68 | 0.70 | 0.71 | 0.71 | 0.76 | 0.77 | 0.75 | 0.75 | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | |||||||||||||||||||||||||||||
| Boeing Co. | 1.45 | 1.55 | 1.49 | 1.47 | 1.42 | 1.39 | 1.39 | 1.45 | 1.35 | 1.36 | 1.35 | 1.30 | 1.36 | 1.40 | 1.40 | 1.24 | 1.23 | 1.33 | 1.46 | 1.20 | 1.38 | 0.99 | |||||||
| Caterpillar Inc. | 0.69 | 0.68 | 0.66 | 0.64 | 0.67 | 0.67 | 0.70 | 0.70 | 0.70 | 0.69 | 0.70 | 0.69 | 0.69 | 0.70 | 0.71 | 0.72 | 0.74 | 0.72 | 0.72 | 0.72 | 0.71 | 0.70 | |||||||
| Eaton Corp. plc | 0.34 | 0.32 | 0.33 | 0.33 | 0.34 | 0.34 | 0.34 | 0.36 | 0.37 | 0.37 | 0.34 | 0.36 | 0.44 | 0.40 | 0.35 | 0.36 | 0.37 | 0.37 | 0.34 | 0.34 | 0.33 | 0.32 | |||||||
| Honeywell International Inc. | 0.62 | 0.61 | 0.56 | 0.54 | 0.55 | 0.53 | 0.54 | 0.49 | 0.52 | 0.51 | 0.51 | 0.54 | 0.54 | 0.54 | 0.56 | 0.55 | 0.55 | 0.48 | 0.46 | 0.51 | 0.48 | 0.46 | |||||||
| Lockheed Martin Corp. | 0.76 | 0.74 | 0.72 | 0.65 | 0.66 | 0.62 | 0.63 | 0.49 | 0.50 | 0.54 | 0.52 | 0.55 | 0.65 | 0.66 | 0.67 | 0.72 | 0.77 | 0.79 | 0.80 | 0.78 | 0.83 | 0.85 | |||||||
| RTX Corp. | 0.42 | 0.41 | 0.42 | 0.34 | 0.33 | 0.32 | 0.31 | 0.32 | 0.31 | 0.30 | 0.30 | 0.30 | 0.31 | 0.31 | 0.31 | 0.32 | 0.33 | 0.54 | 0.51 | 0.52 | 0.53 | 0.53 | |||||||
Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q2 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 19,673 ÷ 38,271 = 0.51
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | GE Aerospace debt to capital ratio improved from Q4 2023 to Q1 2024 but then deteriorated significantly from Q1 2024 to Q2 2024. |
Debt to Assets
GE Aerospace, debt to assets calculation (quarterly data)
| Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Short-term borrowings | 1,700) | 1,032) | 1,253) | 1,334) | 1,882) | 2,262) | 3,757) | 4,285) | 4,947) | 4,985) | 4,361) | 5,459) | 4,293) | 4,468) | 4,778) | 6,429) | 9,455) | 18,766) | 23,727) | 18,544) | 17,043) | 17,303) | |||||||
| Long-term borrowings | 17,973) | 19,493) | 19,711) | 19,488) | 19,900) | 20,159) | 28,593) | 26,121) | 27,571) | 28,649) | 30,824) | 57,429) | 59,231) | 66,890) | 70,288) | 73,034) | 72,423) | 66,388) | 67,155) | 74,701) | 88,735) | 90,223) | |||||||
| Total debt | 19,673) | 20,525) | 20,964) | 20,822) | 21,782) | 22,421) | 32,350) | 30,406) | 32,518) | 33,634) | 35,185) | 62,888) | 63,524) | 71,358) | 75,066) | 79,463) | 81,878) | 85,154) | 90,882) | 93,245) | 105,778) | 107,526) | |||||||
| Total assets | 123,190) | 163,942) | 163,045) | 156,662) | 163,006) | 164,472) | 187,788) | 180,877) | 185,540) | 191,961) | 198,874) | 237,133) | 237,559) | 245,164) | 253,452) | 254,315) | 256,487) | 262,021) | 266,048) | 263,009) | 312,109) | 315,082) | |||||||
| Solvency Ratio | |||||||||||||||||||||||||||||
| Debt to assets1 | 0.16 | 0.13 | 0.13 | 0.13 | 0.13 | 0.14 | 0.17 | 0.17 | 0.18 | 0.18 | 0.18 | 0.27 | 0.27 | 0.29 | 0.30 | 0.31 | 0.32 | 0.32 | 0.34 | 0.35 | 0.34 | 0.34 | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | |||||||||||||||||||||||||||||
| Boeing Co. | 0.41 | 0.36 | 0.38 | 0.39 | 0.39 | 0.41 | 0.42 | 0.42 | 0.42 | 0.43 | 0.42 | 0.43 | 0.43 | 0.42 | 0.42 | 0.38 | 0.38 | 0.27 | 0.20 | 0.19 | 0.15 | 0.12 | |||||||
| Caterpillar Inc. | 0.45 | 0.45 | 0.43 | 0.43 | 0.44 | 0.44 | 0.45 | 0.45 | 0.46 | 0.46 | 0.46 | 0.46 | 0.46 | 0.47 | 0.47 | 0.50 | 0.50 | 0.49 | 0.48 | 0.49 | 0.46 | 0.45 | |||||||
| Eaton Corp. plc | 0.25 | 0.24 | 0.24 | 0.25 | 0.25 | 0.25 | 0.25 | 0.26 | 0.28 | 0.27 | 0.25 | 0.27 | 0.33 | 0.30 | 0.25 | 0.26 | 0.27 | 0.27 | 0.25 | 0.25 | 0.25 | 0.24 | |||||||
| Honeywell International Inc. | 0.40 | 0.38 | 0.33 | 0.33 | 0.34 | 0.32 | 0.31 | 0.28 | 0.31 | 0.31 | 0.30 | 0.33 | 0.33 | 0.34 | 0.35 | 0.35 | 0.35 | 0.28 | 0.27 | 0.31 | 0.28 | 0.28 | |||||||
| Lockheed Martin Corp. | 0.35 | 0.35 | 0.33 | 0.31 | 0.31 | 0.29 | 0.29 | 0.22 | 0.22 | 0.23 | 0.23 | 0.23 | 0.23 | 0.24 | 0.24 | 0.25 | 0.26 | 0.26 | 0.27 | 0.28 | 0.28 | 0.29 | |||||||
| RTX Corp. | 0.26 | 0.27 | 0.27 | 0.22 | 0.22 | 0.21 | 0.20 | 0.21 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.33 | 0.31 | 0.32 | 0.33 | 0.33 | |||||||
Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q2 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 19,673 ÷ 123,190 = 0.16
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | GE Aerospace debt to assets ratio improved from Q4 2023 to Q1 2024 but then deteriorated significantly from Q1 2024 to Q2 2024. |
Financial Leverage
GE Aerospace, financial leverage calculation (quarterly data)
| Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Total assets | 123,190) | 163,942) | 163,045) | 156,662) | 163,006) | 164,472) | 187,788) | 180,877) | 185,540) | 191,961) | 198,874) | 237,133) | 237,559) | 245,164) | 253,452) | 254,315) | 256,487) | 262,021) | 266,048) | 263,009) | 312,109) | 315,082) | |||||||
| Shareholders’ equity | 18,598) | 29,855) | 27,378) | 28,665) | 31,194) | 31,652) | 36,366) | 31,475) | 34,649) | 39,005) | 40,310) | 37,477) | 33,487) | 33,585) | 35,552) | 33,269) | 33,674) | 35,284) | 28,316) | 27,935) | 35,816) | 35,161) | |||||||
| Solvency Ratio | |||||||||||||||||||||||||||||
| Financial leverage1 | 6.62 | 5.49 | 5.96 | 5.47 | 5.23 | 5.20 | 5.16 | 5.75 | 5.35 | 4.92 | 4.93 | 6.33 | 7.09 | 7.30 | 7.13 | 7.64 | 7.62 | 7.43 | 9.40 | 9.42 | 8.71 | 8.96 | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | |||||||||||||||||||||||||||||
| Boeing Co. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 961.67 | |||||||
| Caterpillar Inc. | 4.86 | 4.75 | 4.49 | 4.24 | 4.68 | 4.61 | 5.16 | 5.19 | 5.16 | 4.82 | 5.02 | 4.85 | 4.85 | 4.87 | 5.11 | 5.13 | 5.57 | 5.35 | 5.38 | 5.22 | 5.34 | 5.10 | |||||||
| Eaton Corp. plc | 2.05 | 2.00 | 2.02 | 2.03 | 2.05 | 2.04 | 2.06 | 2.14 | 2.15 | 2.12 | 2.07 | 2.14 | 2.39 | 2.27 | 2.13 | 2.14 | 2.14 | 2.17 | 2.04 | 2.01 | 1.98 | 1.95 | |||||||
| Honeywell International Inc. | 4.09 | 3.99 | 3.88 | 3.56 | 3.60 | 3.54 | 3.73 | 3.40 | 3.55 | 3.45 | 3.47 | 3.60 | 3.56 | 3.53 | 3.68 | 3.51 | 3.50 | 3.25 | 3.17 | 3.32 | 3.23 | 3.12 | |||||||
| Lockheed Martin Corp. | 8.92 | 8.27 | 7.67 | 6.11 | 6.17 | 5.66 | 5.71 | 4.35 | 4.53 | 5.15 | 4.64 | 5.38 | 7.99 | 8.15 | 8.43 | 10.25 | 13.22 | 14.29 | 15.20 | 12.66 | 16.79 | 19.34 | |||||||
| RTX Corp. | 2.73 | 2.65 | 2.71 | 2.33 | 2.24 | 2.22 | 2.19 | 2.25 | 2.26 | 2.20 | 2.21 | 2.23 | 2.23 | 2.24 | 2.25 | 2.37 | 2.40 | 3.54 | 3.34 | 3.44 | 3.41 | 3.46 | |||||||
Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q2 2024 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= 123,190 ÷ 18,598 = 6.62
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | GE Aerospace financial leverage ratio decreased from Q4 2023 to Q1 2024 but then increased from Q1 2024 to Q2 2024 exceeding Q4 2023 level. |
Interest Coverage
GE Aerospace, interest coverage calculation (quarterly data)
| Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net earnings (loss) attributable to the Company | 1,266) | 1,537) | 1,592) | 348) | 35) | 7,506) | 2,222) | (165) | (790) | (1,042) | (3,844) | 1,257) | (1,131) | (2,802) | 2,636) | (1,144) | (1,987) | 6,199) | 729) | (9,423) | 127) | 3,588) | |||||||
| Add: Net income attributable to noncontrolling interest | 2) | 26) | (1) | (13) | 4) | (28) | 15) | 5) | 19) | 28) | 2) | (73) | (4) | 4) | 4) | (51) | (145) | 34) | (7) | 40) | (23) | 57) | |||||||
| Less: Earnings (loss) from discontinued operations, net of taxes | (54) | 14) | 2) | 174) | (1,019) | 1,257) | (65) | (84) | (210) | (285) | (338) | 602) | (564) | (2,895) | 81) | (35) | 7) | (179) | (123) | (8,093) | 219) | 2,662) | |||||||
| Add: Income tax expense | 125) | 317) | 420) | 139) | 332) | 271) | (66) | 21) | 317) | 204) | 36) | 2) | (466) | 141) | 162) | (500) | (200) | 63) | 727) | 41) | (181) | 139) | |||||||
| Add: Interest and other financial charges | 248) | 278) | 296) | 286) | 267) | 269) | 417) | 390) | 394) | 406) | 426) | 462) | 488) | 500) | 737) | 745) | 997) | 794) | 954) | 1,279) | 929) | 1,065) | |||||||
| Earnings before interest and tax (EBIT) | 1,695) | 2,144) | 2,305) | 586) | 1,657) | 6,761) | 2,653) | 335) | 150) | (119) | (3,042) | 1,046) | (549) | 738) | 3,458) | (915) | (1,342) | 7,269) | 2,526) | 30) | 633) | 2,187) | |||||||
| Solvency Ratio | |||||||||||||||||||||||||||||
| Interest coverage1 | 6.07 | 5.94 | 10.12 | 9.41 | 8.49 | 6.73 | 1.88 | -1.66 | -1.16 | -1.49 | -0.96 | 2.15 | 1.11 | 0.65 | 2.59 | 2.16 | 2.11 | 2.64 | 1.27 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Interest Coverage, Competitors2 | |||||||||||||||||||||||||||||
| Boeing Co. | -0.23 | 0.21 | 0.18 | -0.06 | -0.85 | -0.53 | -0.98 | -2.54 | -1.40 | -1.31 | -0.88 | -2.29 | -2.55 | -4.26 | -5.71 | -3.83 | -3.86 | -6.13 | -2.19 | — | — | — | |||||||
| Caterpillar Inc. | 26.88 | 27.68 | 26.66 | 24.81 | 23.80 | 21.33 | 20.80 | 22.05 | 20.08 | 19.10 | 17.88 | 14.11 | 11.79 | 9.28 | 8.80 | 9.94 | 13.07 | 17.44 | 19.62 | — | — | — | |||||||
| Eaton Corp. plc | 37.97 | 32.04 | 26.34 | 22.25 | 19.68 | 19.85 | 21.22 | 21.33 | 24.31 | 22.57 | 21.11 | 20.08 | 15.71 | 11.87 | 12.72 | 11.39 | 11.72 | 13.79 | 11.98 | — | — | — | |||||||
| Honeywell International Inc. | 9.33 | 9.89 | 10.36 | 10.68 | 12.45 | 14.34 | 16.41 | 20.95 | 20.60 | 21.35 | 22.09 | 20.98 | 18.89 | 16.79 | 17.75 | 18.10 | 20.68 | 23.18 | 22.17 | — | — | — | |||||||
| Lockheed Martin Corp. | 8.83 | 9.19 | 9.84 | 10.42 | 11.74 | 10.58 | 11.72 | 13.31 | 10.88 | 14.12 | 14.27 | 13.67 | 15.97 | 15.44 | 14.93 | 14.16 | 13.35 | 12.63 | 12.09 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q2 2024 Calculation
Interest coverage
= (EBITQ2 2024
+ EBITQ1 2024
+ EBITQ4 2023
+ EBITQ3 2023)
÷ (Interest expenseQ2 2024
+ Interest expenseQ1 2024
+ Interest expenseQ4 2023
+ Interest expenseQ3 2023)
= (1,695 + 2,144 + 2,305 + 586)
÷ (248 + 278 + 296 + 286)
= 6.07
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | GE Aerospace interest coverage ratio deteriorated from Q4 2023 to Q1 2024 but then slightly improved from Q1 2024 to Q2 2024. |