Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
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- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Return on Assets (ROA) since 2005
- Price to Book Value (P/BV) since 2005
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Historical Valuation Ratios (Summary)
GE Aerospace, historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 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).
- Price to Earnings (P/E)
- The P/E ratio data is available from March 2023 onward, starting at 12.78. It shows an increasing trend through June 2023 and December 2023, reaching a peak of 16.18. After this peak, there is a sharp rise beginning in March 2024, escalating to 52.9 and then declining steadily through to September 2025 where it stands at 40.12. This pattern indicates increasing market valuation relative to earnings in early 2024 followed by some correction or stabilization.
- Price to Operating Profit (P/OP)
- The P/OP ratio displays a general declining trend from March 2021, starting at 35.58 and decreasing to around 13.51 in June 2022. After this low point, it fluctuates but exhibits a gradual upward movement, reaching around 30.56 by September 2025. The initial decline suggests improving operating profit relative to market price, but the subsequent rise indicates valuation pressures or a decrease in operating profit margins over time.
- Price to Sales (P/S)
- The P/S ratio shows an initial decline from 1.68 in March 2021 to around 1.1 in June 2022, implying a reduction in market price relative to sales. From that point forward, the ratio steadily increases, accelerating sharply from 3.02 in March 2024 to 8.02 by September 2025. This consistent increase over the last years suggests the market is valuing the company more highly relative to its sales, implying rising investor expectations.
- Price to Book Value (P/BV)
- The P/BV ratio decreases from 3.53 in March 2021 to a low of 2.26 in June 2022. From that phase, it gradually increases and accelerates markedly from March 2024, rising from 5.96 to a high of 17.19 by September 2025. This trend indicates the market valuation has increasingly exceeded the book value, reflecting either improved market sentiment or expectations of strong future growth, along with possible asset revaluations or goodwill increases.
Price to Earnings (P/E)
GE Aerospace, historical P/E calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Net income (loss) attributable to common shareholders (in millions) | |||||||||||||||||||||||||
| Earnings per share (EPS)2 | |||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/E ratio4 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||||
| Boeing Co. | |||||||||||||||||||||||||
| Caterpillar Inc. | |||||||||||||||||||||||||
| Eaton Corp. plc | |||||||||||||||||||||||||
| Honeywell International Inc. | |||||||||||||||||||||||||
| Lockheed Martin Corp. | |||||||||||||||||||||||||
| RTX Corp. | |||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 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).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
EPS
= (Net income (loss) attributable to common shareholdersQ3 2025
+ Net income (loss) attributable to common shareholdersQ2 2025
+ Net income (loss) attributable to common shareholdersQ1 2025
+ Net income (loss) attributable to common shareholdersQ4 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of GE Aerospace Quarterly or Annual Report.
4 Q3 2025 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends concerning the share price, earnings per share (EPS), and price-to-earnings (P/E) ratio over the observed periods.
- Share Price
-
The share price exhibited initial volatility, declining from around $108 in early 2021 to a low near $71 by mid-2022. After this trough, the share price demonstrated a marked upward trajectory, rising steadily through 2023 and into 2024, peaking over $306 by late 2025. This progression indicates considerable market confidence and positive momentum in the later periods.
- Earnings Per Share (EPS)
-
The EPS showed significant fluctuations across the periods. Early data indicate negative earnings per share, with lows reaching -6.15, suggesting financial challenges or losses during 2021 and early 2022. However, starting around March 2023, a notable turnaround occurred, with EPS becoming positive and increasing consistently, reaching approximately 7.64 by late 2025. This steady improvement in profitability aligns with the observed share price appreciation and denotes enhanced operational performance and earnings stability.
- Price-to-Earnings (P/E) Ratio
-
Data for the P/E ratio begin in early 2023 and reveal initial values ranging from about 12.7 to 16.2, reflecting valuation during the transition to profitability. Subsequently, significant expansion in the P/E ratio is observed, with peaks above 50 in early 2024, followed by a decline to a range between 28 and 40 toward late 2025. This pattern could suggest periods of high market optimism or growth expectations, with adjustments reflecting changing investor sentiment or earnings growth stabilizing the valuation multiples.
Overall, the financial trends suggest a company recovering from earlier losses toward a period of sustained profitability and robust share price appreciation. The EPS turnaround appears to be a key driver of market valuation increases, while the P/E ratio fluctuations indicate varying investor perceptions of growth prospects and risk over time.
Price to Operating Profit (P/OP)
GE Aerospace, historical P/OP calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Operating income (loss) (in millions) | |||||||||||||||||||||||||
| Operating profit per share2 | |||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/OP ratio4 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||||
| Boeing Co. | |||||||||||||||||||||||||
| Caterpillar Inc. | |||||||||||||||||||||||||
| Eaton Corp. plc | |||||||||||||||||||||||||
| Honeywell International Inc. | |||||||||||||||||||||||||
| Lockheed Martin Corp. | |||||||||||||||||||||||||
| RTX Corp. | |||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 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).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
Operating profit per share
= (Operating income (loss)Q3 2025
+ Operating income (loss)Q2 2025
+ Operating income (loss)Q1 2025
+ Operating income (loss)Q4 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of GE Aerospace Quarterly or Annual Report.
4 Q3 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The analyzed data presents share price, operating profit per share, and the price-to-operating profit ratio (P/OP) for a series of quarterly periods.
- Share Price
- The share price demonstrates a generally upward trend. Initially, there is a decline from about $108 in early 2021 to a low near $71 by mid-2022. Following this period, the price recovers and shows consistent growth, reaching a value exceeding $300 by late 2025. This recovery and growth phase is marked by some fluctuations but overall reflects strong appreciation over the latter half of the timespan.
- Operating Profit Per Share
- Operating profit per share exhibits a steady increase throughout the entire period. Starting at around $3.03 in early 2021, it increases with some minor quarterly variability, ultimately exceeding $10 by late 2025. This indicates significant improvement in operating profitability on a per-share basis, suggesting enhanced operational efficiency or higher earnings generation capacity.
- Price-to-Operating Profit Ratio (P/OP)
- The P/OP ratio displays a complex pattern. In early 2021, the ratio is relatively high, around 35.5, which declines sharply until mid-2022 to a low near 13.5. Afterward, the ratio oscillates, increasing and decreasing intermittently, peaking around 30 towards the end of the period. These fluctuations suggest changing market sentiment or valuation multiples, possibly influenced by evolving investor expectations or broader market conditions.
- Overall Trends and Insights
- Throughout the timeline, operating profit per share increases consistently, implying improving operational performance. Meanwhile, share price initially decreases, reflecting possibly unfavorable market perception or external pressures, but later appreciates considerably, indicating regained investor confidence or improved market conditions. The P/OP ratio's volatility suggests varying valuation perspectives alongside these fundamental changes. The combination of rising profitability and increasing share prices in the latter periods points toward strengthened financial health and growing market valuation, notwithstanding occasional valuation adjustments reflected in the P/OP fluctuations.
Price to Sales (P/S)
GE Aerospace, historical P/S calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Sales of equipment and services (in millions) | |||||||||||||||||||||||||
| Sales per share2 | |||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/S ratio4 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||||
| Boeing Co. | |||||||||||||||||||||||||
| Caterpillar Inc. | |||||||||||||||||||||||||
| Eaton Corp. plc | |||||||||||||||||||||||||
| Honeywell International Inc. | |||||||||||||||||||||||||
| Lockheed Martin Corp. | |||||||||||||||||||||||||
| RTX Corp. | |||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 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).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
Sales per share
= (Sales of equipment and servicesQ3 2025
+ Sales of equipment and servicesQ2 2025
+ Sales of equipment and servicesQ1 2025
+ Sales of equipment and servicesQ4 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of GE Aerospace Quarterly or Annual Report.
4 Q3 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
The analysis of the financial data over the reported periods reveals distinct trends in share price, sales per share, and the price-to-sales (P/S) ratio.
- Share Price
- The share price exhibits significant fluctuations throughout the periods analyzed. Initially, from March 2021 to December 2021, the share price declined from approximately $108 to about $97. This downward trend continued until June 2022, reaching a low near $71. Subsequently, a notable recovery phase emerged, with the share price rising steadily from September 2022 onward, culminating in a peak of $307 by September 2025. Overall, the share price demonstrated increased volatility with a substantial appreciation toward the latter part of the timeline.
- Sales per Share
- In contrast to the share price, sales per share showed a gradual and consistent decline throughout the entire period. Starting at around $64 in early 2021, sales per share decreased incrementally each quarter, reaching a low near $32 by December 2024. After this point, a modest rebound is observed, with sales per share increasing slightly to approximately $38 by September 2025. This downward trend suggests challenges in maintaining revenue growth relative to the number of shares outstanding.
- Price-to-Sales (P/S) Ratio
- The P/S ratio, which reflects market valuation relative to sales, reveals a markedly different pattern compared to sales per share. Initially, the ratio decreased from 1.68 in March 2021 to a low around 1.10 in June 2022, aligning with the declining share price and relatively stable sales per share. However, from September 2022 onwards, the P/S ratio increased significantly, reaching 8.02 by September 2025. This sharp rise suggests that the market valuation has grown disproportionately higher than sales per share, indicating elevated investor confidence or expectations not directly supported by sales trends.
- Overall Insights
- The divergence between share price appreciation and declining sales per share suggests that market sentiment or expectations regarding the company’s future prospects may be driving valuation increases beyond underlying sales performance. The substantial rise in the P/S ratio supports this notion, highlighting a potential premium placed on the stock relative to its current sales metrics. Such a scenario may reflect anticipated improvements in profitability, successful strategic initiatives, or broader market dynamics favoring the industry.
Price to Book Value (P/BV)
GE Aerospace, historical P/BV calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Shareholders’ equity (in millions) | |||||||||||||||||||||||||
| Book value per share (BVPS)2 | |||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/BV ratio4 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||||
| Boeing Co. | |||||||||||||||||||||||||
| Caterpillar Inc. | |||||||||||||||||||||||||
| Eaton Corp. plc | |||||||||||||||||||||||||
| Honeywell International Inc. | |||||||||||||||||||||||||
| Lockheed Martin Corp. | |||||||||||||||||||||||||
| RTX Corp. | |||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 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).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
BVPS = Shareholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of GE Aerospace Quarterly or Annual Report.
4 Q3 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited fluctuations in the initial periods, starting from a peak near 108 USD in early 2021, declining through mid-2022 to a low around 71 USD, then gaining momentum. From late 2022 onward, there is a general upward trajectory, culminating in a significant rise to over 300 USD by late 2025. This reflects a strong recovery and growth phase in recent years.
- Book Value per Share (BVPS) Trend
- BVPS showed some variability, initially increasing from approximately 31 to 36 USD in 2021, then a decline through 2022 into early 2023, reaching lows near 17-18 USD by 2024-2025. The trend indicates a reduction in book value per share over the latter part of the period, suggesting possible asset valuation changes, share repurchases, or other equity adjustments impacting the book value.
- Price-to-Book Value (P/BV) Ratio Trend
- The P/BV ratio decreased from over 3.5 in early 2021 to around 2.3 by mid-2022, indicating a compression in market valuation relative to book value during that timeframe. Subsequently, starting late 2022, the P/BV ratio rose sharply, escalating to values exceeding 17 by the end of the analyzed period. This strong increase signals that the market price is appreciating well beyond the underlying book value, possibly reflecting heightened investor confidence, expected future growth, or other qualitative factors influencing market sentiment.
- Overall Insights
- The data reveal a marked divergence between share price appreciation and declining book value per share in the later periods, driving a significant rise in the P/BV ratio. This pattern may indicate that market valuations are increasingly driven by optimistic future expectations rather than current book fundamentals. The substantial growth in share price after mid-2022 suggests improved market perception despite the declining book value, highlighting the importance of intangible assets, earnings growth, or strategic developments not captured in the book value metric.