Stock Analysis on Net
Stock Analysis on Net

GE Aerospace (NYSE:GE)

$24.99

Debt to Equity
since 2005

Microsoft Excel

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Calculation

GE Aerospace, debt to equity, long-term trends, calculation

Microsoft Excel
Debt to equity = Total borrowings1 ÷ Shareholders’ equity1
Dec 31, 2024 = ÷
Dec 31, 2023 = ÷
Dec 31, 2022 = ÷
Dec 31, 2021 = ÷
Dec 31, 2020 = ÷
Dec 31, 2019 = ÷
Dec 31, 2018 = ÷
Dec 31, 2017 = ÷
Dec 31, 2016 = ÷
Dec 31, 2015 = ÷
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Dec 31, 2013 = ÷
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Dec 31, 2008 = ÷
Dec 31, 2007 = ÷
Dec 31, 2006 = ÷
Dec 31, 2005 = ÷

Based on: 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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in millions

The financial data reveals significant trends in the company's leverage and equity position over the period from 2005 to 2024. Analysis centers on total borrowings, shareholders' equity, and the debt-to-equity ratio.

Total Borrowings
Total borrowings exhibited a general decline from 2005 through 2024, starting at approximately $370 billion and peaking near $524 billion in 2008. After this peak, there was a gradual but consistent reduction in borrowings, accelerating notably after 2014, when the value dropped steeply from $365 billion to under $20 billion by 2024. This suggests a strategic effort to deleverage or reduce debt exposure significantly in the latter years of the period.
Shareholders’ Equity
Shareholders' equity showed moderate growth and stability in the early years, increasing from about $109 billion in 2005 to a peak near $131 billion in 2013. However, from 2014 onward, equity values declined sharply, bottoming out near $19 billion by 2024. The steep equity reduction after 2013 indicates possible write-downs, losses, or capital restructuring. Despite the decline, the overall equity level remained positive throughout.
Debt to Equity Ratio
The debt-to-equity ratio followed a fluctuating but broadly downward trend. It increased from 3.39 in 2005 to a peak of 5.00 in 2008, reflecting increased borrowings relative to equity during this time. Post-2008, the ratio generally decreased, dropping sharply after 2014 from around 2.85 down to below 1.0 by 2021, indicating improved financial stability and reduced reliance on debt financing. Notably, a slight increase is observed in 2024, reaching a ratio of 1.0, which may suggest renewed borrowing or lower equity.

Overall, the financial data portrays a company that initially increased its debt load substantially before undertaking significant deleveraging efforts after 2014. Concurrently, shareholders’ equity progressively declined in the latter years, which alongside reduced debt, lowered the debt-to-equity ratio substantially. The recent increase in the debt-to-equity ratio indicates a change in capital structure dynamics toward slightly higher leverage. These developments imply active management of financial risk and capital structure in response to shifting business or economic conditions.

Comparison to Competitors

GE Aerospace, debt to equity, long-term trends, comparison to competitors

Microsoft Excel
GE Aerospace Boeing Co. Caterpillar Inc. Eaton Corp. plc Honeywell International Inc. Lockheed Martin Corp. RTX Corp.
Dec 31, 2024
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Based on: 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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Sector (Capital Goods)

GE Aerospace, debt to equity, long-term trends, comparison to sector (capital goods)

Microsoft Excel
GE Aerospace Capital Goods
Dec 31, 2024
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Based on: 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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Industry (Industrials)

GE Aerospace, debt to equity, long-term trends, comparison to industry (industrials)

Microsoft Excel
GE Aerospace Industrials
Dec 31, 2024
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Based on: 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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).