Stock Analysis on Net

GE Aerospace (NYSE:GE)

Analysis of Solvency Ratios
Quarterly Data

Microsoft Excel

Solvency Ratios (Summary)

GE Aerospace, solvency ratios (quarterly data)

Microsoft Excel
Sep 30, 2024 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
Debt Ratios
Debt to equity 1.06 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
Debt to capital 0.51 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
Debt to assets 0.16 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
Financial leverage 6.71 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
Coverage Ratios
Interest coverage 7.72 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

Based on: 10-Q (reporting date: 2024-09-30), 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 deteriorated from Q1 2024 to Q2 2024 but then slightly improved from Q2 2024 to Q3 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 deteriorated from Q1 2024 to Q2 2024 but then slightly improved from Q2 2024 to Q3 2024.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. GE Aerospace debt to assets ratio deteriorated from Q1 2024 to Q2 2024 but then slightly improved from Q2 2024 to Q3 2024.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. GE Aerospace financial leverage ratio increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. GE Aerospace interest coverage ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Debt to Equity

GE Aerospace, debt to equity calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 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 1,681 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 18,240 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 19,921 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 18,874 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 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. 1.95 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 0.49 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. 1.77 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. 2.68 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. 0.69 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: 2024-09-30), 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 Q3 2024 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= 19,921 ÷ 18,874 = 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 deteriorated from Q1 2024 to Q2 2024 but then slightly improved from Q2 2024 to Q3 2024.

Debt to Capital

GE Aerospace, debt to capital calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 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 1,681 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 18,240 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 19,921 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 18,874 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 38,795 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 0.51 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. 1.69 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. 0.66 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 0.33 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. 0.64 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. 0.73 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. 0.41 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: 2024-09-30), 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 Q3 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 19,921 ÷ 38,795 = 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 deteriorated from Q1 2024 to Q2 2024 but then slightly improved from Q2 2024 to Q3 2024.

Debt to Assets

GE Aerospace, debt to assets calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 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 1,681 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 18,240 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 19,921 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 126,698 123,190 163,942 163,045 156,662 163,006 164,472 187,788 180,877 185,540 191,961 198,874 237,133 237,559 245,164 253,452 254,315 256,487 262,021 266,048 263,009 312,109 315,082
Solvency Ratio
Debt to assets1 0.16 0.16 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. 0.42 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. 0.44 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 0.24 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. 0.42 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 0.35 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 0.26 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: 2024-09-30), 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 Q3 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 19,921 ÷ 126,698 = 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 deteriorated from Q1 2024 to Q2 2024 but then slightly improved from Q2 2024 to Q3 2024.

Financial Leverage

GE Aerospace, financial leverage calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 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 126,698 123,190 163,942 163,045 156,662 163,006 164,472 187,788 180,877 185,540 191,961 198,874 237,133 237,559 245,164 253,452 254,315 256,487 262,021 266,048 263,009 312,109 315,082
Shareholders’ equity 18,874 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 6.71 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. 4.45 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 2.05 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. 4.22 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. 7.71 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. 2.70 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: 2024-09-30), 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 Q3 2024 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= 126,698 ÷ 18,874 = 6.71

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 increased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Interest Coverage

GE Aerospace, interest coverage calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 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 1,852 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 (10) 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 147 (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 198 125 317 420 139 332 271 (66) 21 317 204 36 2 (466) 141 162 (500) (200) 63 727 41 (181) 139
Add: Interest and other financial charges 251 248 278 296 286 267 269 417 390 394 406 426 462 488 500 737 745 997 794 954 1,279 929 1,065
Earnings before interest and tax (EBIT) 2,144 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 7.72 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. -2.16 -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. 26.28 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 40.37 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. 8.40 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. 8.65 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: 2024-09-30), 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 Q3 2024 Calculation
Interest coverage = (EBITQ3 2024 + EBITQ2 2024 + EBITQ1 2024 + EBITQ4 2023) ÷ (Interest expenseQ3 2024 + Interest expenseQ2 2024 + Interest expenseQ1 2024 + Interest expenseQ4 2023)
= (2,144 + 1,695 + 2,144 + 2,305) ÷ (251 + 248 + 278 + 296) = 7.72

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 improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.