Stock Analysis on Net

GE Aerospace (NYSE:GE)

Analysis of Long-term (Investment) Activity Ratios

Microsoft Excel

Long-term Activity Ratios (Summary)

GE Aerospace, long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net fixed asset turnover 6.06 5.96 5.47 1.75 2.02
Net fixed asset turnover (including operating lease, right-of-use asset) 5.17 5.08 4.55 1.63 1.89
Total asset turnover 0.40 0.39 0.36 0.29 0.33
Equity turnover 2.36 2.02 1.76 2.05 3.09

Based on: 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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. GE Aerospace net fixed asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). GE Aerospace net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 and from 2022 to 2023.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. GE Aerospace total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. GE Aerospace equity turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Net Fixed Asset Turnover

GE Aerospace, net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Sales of equipment and services 64,565 73,602 71,090 73,022 87,487
Property, plant and equipment, net, excluding ROU operating lease assets 10,654 12,341 13,003 41,675 43,290
Long-term Activity Ratio
Net fixed asset turnover1 6.06 5.96 5.47 1.75 2.02
Benchmarks
Net Fixed Asset Turnover, Competitors2
Boeing Co. 7.30 6.31 5.70 4.92 6.12
Caterpillar Inc. 5.04 4.70 3.99 3.15 3.93
Eaton Corp. plc 6.57 6.59 6.41 6.02 6.12
Honeywell International Inc. 6.48 6.48 6.18 5.86 6.89
Lockheed Martin Corp. 8.07 8.27 8.83 9.07 9.07
RTX Corp. 4.38 4.42 4.30 3.78 6.04
Net Fixed Asset Turnover, Sector
Capital Goods 5.98 5.79 5.46 3.55 4.23
Net Fixed Asset Turnover, Industry
Industrials 3.16 3.22 3.04 2.41 2.76

Based on: 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).

1 2023 Calculation
Net fixed asset turnover = Sales of equipment and services ÷ Property, plant and equipment, net, excluding ROU operating lease assets
= 64,565 ÷ 10,654 = 6.06

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. GE Aerospace net fixed asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

GE Aerospace, net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Sales of equipment and services 64,565 73,602 71,090 73,022 87,487
 
Property, plant and equipment, net, excluding ROU operating lease assets 10,654 12,341 13,003 41,675 43,290
ROU operating lease assets 1,840 2,137 2,606 2,987 2,896
Property, plant and equipment, net, excluding ROU operating lease assets (including operating lease, right-of-use asset) 12,494 14,478 15,609 44,662 46,186
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 5.17 5.08 4.55 1.63 1.89
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Boeing Co. 6.30 5.55 5.04 4.45 5.59
Caterpillar Inc. 4.83 4.49 3.79 3.00 3.75
Eaton Corp. plc 5.55 5.58 5.60 5.26 5.44
Honeywell International Inc. 5.50 5.58 5.28 5.15 6.12
Lockheed Martin Corp. 7.14 7.27 7.54 7.96 7.88
RTX Corp. 3.96 3.95 3.80 3.36 5.02
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Capital Goods 5.31 5.13 4.80 3.25 3.86
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Industrials 2.72 2.77 2.62 2.13 2.57

Based on: 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).

1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Sales of equipment and services ÷ Property, plant and equipment, net, excluding ROU operating lease assets (including operating lease, right-of-use asset)
= 64,565 ÷ 12,494 = 5.17

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). GE Aerospace net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 and from 2022 to 2023.

Total Asset Turnover

GE Aerospace, total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Sales of equipment and services 64,565 73,602 71,090 73,022 87,487
Total assets 163,045 187,788 198,874 253,452 266,048
Long-term Activity Ratio
Total asset turnover1 0.40 0.39 0.36 0.29 0.33
Benchmarks
Total Asset Turnover, Competitors2
Boeing Co. 0.57 0.49 0.45 0.38 0.57
Caterpillar Inc. 0.73 0.69 0.58 0.50 0.65
Eaton Corp. plc 0.60 0.59 0.58 0.56 0.65
Honeywell International Inc. 0.60 0.57 0.53 0.51 0.63
Lockheed Martin Corp. 1.29 1.25 1.32 1.29 1.26
RTX Corp. 0.43 0.42 0.40 0.35 0.55
Total Asset Turnover, Sector
Capital Goods 0.57 0.54 0.50 0.43 0.54
Total Asset Turnover, Industry
Industrials 0.67 0.66 0.60 0.51 0.61

Based on: 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).

1 2023 Calculation
Total asset turnover = Sales of equipment and services ÷ Total assets
= 64,565 ÷ 163,045 = 0.40

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. GE Aerospace total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Equity Turnover

GE Aerospace, equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Sales of equipment and services 64,565 73,602 71,090 73,022 87,487
Total GE shareholders’ equity 27,378 36,366 40,310 35,552 28,316
Long-term Activity Ratio
Equity turnover1 2.36 2.02 1.76 2.05 3.09
Benchmarks
Equity Turnover, Competitors2
Boeing Co.
Caterpillar Inc. 3.28 3.57 2.92 2.55 3.48
Eaton Corp. plc 1.22 1.22 1.20 1.20 1.33
Honeywell International Inc. 2.31 2.12 1.85 1.86 1.98
Lockheed Martin Corp. 9.89 7.12 6.12 10.87 19.13
RTX Corp. 1.15 0.92 0.88 0.78 1.84
Equity Turnover, Sector
Capital Goods 3.07 2.54 2.28 2.39 3.60
Equity Turnover, Industry
Industrials 3.22 2.94 2.58 2.75 3.53

Based on: 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).

1 2023 Calculation
Equity turnover = Sales of equipment and services ÷ Total GE shareholders’ equity
= 64,565 ÷ 27,378 = 2.36

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. GE Aerospace equity turnover ratio improved from 2021 to 2022 and from 2022 to 2023.