Analysis of Debt
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- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
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Total Debt (Carrying Amount)
GE Aerospace, balance sheet: debt
US$ in millions
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Short-term borrowings | ||||||
| Long-term borrowings | ||||||
| Total borrowings (carrying amount) |
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).
The carrying amount of total borrowings demonstrates a significant decreasing trend over the analyzed period, followed by a stabilization in later years. A review of the individual components reveals the drivers behind this overall pattern.
- Short-term Borrowings
- Short-term borrowings experienced a decrease from US$4,361 million in 2021 to US$1,253 million in 2023. A subsequent increase to US$2,039 million was observed in 2024, followed by a slight decrease to US$1,686 million in 2025. This suggests a fluctuating reliance on short-term financing, with a substantial overall reduction followed by modest adjustments.
- Long-term Borrowings
- Long-term borrowings exhibited a consistent decline from US$30,824 million in 2021 to US$17,234 million in 2024. A modest increase to US$18,808 million was recorded in 2025. This indicates a strategic effort to reduce long-term debt obligations, with a potential shift in financing strategy in the most recent year.
- Total Borrowings
- Total borrowings decreased substantially from US$35,185 million in 2021 to US$19,273 million in 2024, representing a significant deleveraging. The total remained relatively stable in 2025 at US$20,494 million. The decrease is primarily attributable to the reduction in long-term borrowings, although the decrease in short-term borrowings also contributed. The stabilization in 2025 suggests a potential plateau in debt reduction efforts.
The observed trends indicate a deliberate strategy to lower the overall debt burden. While the company continued to manage its debt levels in 2025, the rate of reduction slowed considerably. Further investigation into the reasons behind the stabilization in total borrowings would be beneficial.
Total Debt (Fair Value)
| Dec 31, 2025 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Borrowings | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2025-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on borrowings:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (reporting date: 2025-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × ÷ =