Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
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- Selected Financial Data since 2005
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Long-term Activity Ratios (Summary)
GE Aerospace, long-term (investment) activity ratios (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), 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).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio exhibits a clear upward trend beginning from March 2021, starting at 1.63 and rising steadily with minor fluctuations until it peaks in June 2024 at 7.23. This indicates increasing efficiency in utilizing fixed assets to generate sales over the analyzed periods. After the peak, a decline follows, with the ratio decreasing to the range of approximately 4.8 to 5.3 by late 2025, suggesting a moderation in asset utilization or possible asset base changes impacting turnover.
- Total Asset Turnover
- The total asset turnover maintains relatively low but stable levels throughout the periods analyzed, starting around 0.29 in early 2021 and gradually increasing to 0.4 by December 2021. Subsequently, it fluctuates moderately between 0.29 and 0.43 without a definitive upward or downward trajectory. This stability suggests consistent overall asset utilization in generating revenues, though turnover levels indicate moderate efficiency compared to fixed assets alone.
- Equity Turnover
- Equity turnover demonstrates some variability with a general pattern of fluctuation rather than a consistent directional trend. It starts near 2.05 in early 2021, dips to a low of 1.76 around December 2021, then rises again to a peak of 2.76 in June 2024. Following this peak, a decline is observed, bringing the ratio close to the initial range by late 2025. These movements suggest variations in how effectively the company is generating revenues from shareholders' equity, potentially influenced by changes in capital structure or profitability components.
Net Fixed Asset Turnover
GE Aerospace, net fixed asset turnover 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Sales of equipment and services | ||||||||||||||||||||||||||||||
| Property, plant and equipment, net | ||||||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||
| Net fixed asset turnover1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| 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), 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).
1 Q3 2025 Calculation
Net fixed asset turnover
= (Sales of equipment and servicesQ3 2025
+ Sales of equipment and servicesQ2 2025
+ Sales of equipment and servicesQ1 2025
+ Sales of equipment and servicesQ4 2024)
÷ Property, plant and equipment, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Sales of Equipment and Services
- The sales figures demonstrate notable fluctuations over the periods analyzed. Beginning at a high point near 18,814 million US dollars, sales declined during mid-2020 but rebounded toward the end of that year. In 2021, sales experienced an overall increase, peaking at over 21,000 million US dollars in Q4. However, a sharp decline is observed in early 2023, with reduced sales near 13,694 million US dollars in Q1. Following this trough, sales showed a recovering trend through 2023 and into early 2024. From Q1 2024, sales display a more irregular pattern with lower overall levels compared to previous years but a gradual upward movement toward the end of the analyzed period.
- Property, Plant, and Equipment, Net
- The net value of property, plant, and equipment generally declined from the initial value of approximately 45,979 million US dollars in early 2020. Notably, a substantial decrease occurred by the start of 2021, with values dropping to about 16,296 million US dollars, indicating possible divestitures, reclassifications, or impairment. From 2021 onward, the values remain relatively stable, fluctuating within a narrower range between around 7,000 and 15,000 million US dollars depending on the specific quarter. The decline from early 2024 suggests further reductions or asset disposals.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio shows an increasing trend over the periods where data are available. Starting with values around 1.63 at the end of 2020, the ratio improved consistently, reaching above 5 by 2022 and peaking near 7.23 in early 2024. This indicates that the company is generating higher sales revenue per unit of net fixed assets, implying improved efficiency or a shift towards less asset-intensive operations. After the peak, the ratio slightly decreases but remains elevated compared to earlier years, suggesting sustained operational efficiency.
- Overall Insights
- The company's sales experienced volatility with a general downward adjustment after early 2022 but showing signs of recovery later. The substantial reduction in property, plant, and equipment values between 2020 and 2021 points to significant asset changes. Despite the reduction in asset base, the net fixed asset turnover ratio improvement highlights enhanced asset utilization. The data collectively suggest that the company is adapting its asset structure while striving to improve operational efficiency in generating revenues from fixed assets. The fluctuations and downward trend in asset values toward the most recent periods suggest ongoing restructuring or strategic shifts.
Total Asset Turnover
GE Aerospace, total asset turnover 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Sales of equipment and services | ||||||||||||||||||||||||||||||
| Total assets | ||||||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||
| Total asset turnover1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| 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), 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).
1 Q3 2025 Calculation
Total asset turnover
= (Sales of equipment and servicesQ3 2025
+ Sales of equipment and servicesQ2 2025
+ Sales of equipment and servicesQ1 2025
+ Sales of equipment and servicesQ4 2024)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The analysis of the financial data reveals several notable trends over the observed periods.
- Sales of Equipment and Services
- The sales figures exhibit a fluctuating but generally declining trend over the long term. Initial values around 18,814 million USD decreased with intermittent recoveries, dropping significantly by the end of 2023 to approximately 13,694 million USD. A brief resurgence in sales occurred during 2024, reaching near 9,879 million USD in the fourth quarter. However, the figures remained below earlier peak levels, ending the latest period at around 11,306 million USD. This pattern indicates some volatility in demand or operational challenges affecting revenue generation.
- Total Assets
- Total assets have steadily declined from about 262 billion USD at the beginning of the period to roughly 128 billion USD in the latest quarter. This consistent downward trend suggests significant asset disposals, depreciation, or restructuring activities. Despite minor fluctuations, the overall contraction in asset base highlights a strategic contraction or potential efficiency measures in asset management.
- Total Asset Turnover
- The total asset turnover ratio fluctuated throughout the timeline, generally improving from an initial level not precisely stated but showing values in the range of 0.29 to 0.43 during various quarters. This metric indicates the efficiency with which assets are used to generate sales. Peaks around 0.43 suggest improved operational efficiency at certain points, while the drop to approximately 0.29 toward the final quarters suggests some reduction in asset utilization efficiency. Despite this, turnover remained mostly stable around the 0.3 to 0.4 range, implying moderate consistency in asset performance relative to sales.
In summary, sales revenue has experienced volatility and a downward drift over the duration, while total assets have markedly decreased, indicating substantial changes in asset management or company scale. The asset turnover ratio shows variability, reflecting changing efficiency in asset use with a modest overall performance level. These combined patterns point to a period of adjustment or transition, with shifts in market conditions or internal restructuring influencing financial outcomes.
Equity Turnover
GE Aerospace, equity turnover 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Sales of equipment and services | ||||||||||||||||||||||||||||||
| Shareholders’ equity | ||||||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||
| Equity turnover1 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| 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), 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).
1 Q3 2025 Calculation
Equity turnover
= (Sales of equipment and servicesQ3 2025
+ Sales of equipment and servicesQ2 2025
+ Sales of equipment and servicesQ1 2025
+ Sales of equipment and servicesQ4 2024)
÷ Shareholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Sales of equipment and services
- The sales figures display notable volatility over the observed periods. Initial sales were robust, peaking near 20.3 billion US dollars at the end of 2020. However, fluctuations persisted, with several downward movements observed in subsequent quarters. A significant decline is evident starting in early 2023, where quarterly sales reduced to approximately 13.7 billion US dollars. This was followed by a slight recovery through 2023, but a marked contraction appears again in early 2024, with quarterly sales dropping sharply to under 10 billion US dollars before a slight upward trend towards the latter half of 2025. Overall, sales have demonstrated cyclical tendencies with pronounced decreases in the most recent reported quarters.
- Shareholders’ equity
- Shareholders’ equity experienced moderate fluctuations but generally exhibits a downward trend over the entire period. Starting from over 35 billion US dollars in early 2020, equity levels decreased inconsistently, with episodes of recovery, particularly in late 2021 and early 2022, reaching over 36 billion US dollars. However, from mid-2022 onward, shareholders’ equity dropped notably, falling below 20 billion US dollars by late 2024 and remaining near this lower level through mid-2025. This declining trend in equity suggests possible challenges related to retained earnings, dividends, share repurchases, or other equity-affecting activities.
- Equity turnover
- The equity turnover ratio manifests considerable fluctuations across quarters. The ratio initially ranged from approximately 2.05 to 2.34 between late 2020 and late 2021, indicating consistent efficiency in generating sales relative to shareholders' equity. In 2022 and early 2023, values maintained around 2.0 to 2.3, suggesting stable operational efficiency. However, notable variability emerges from mid-2023 onwards: the ratio spikes irregularly up to about 2.76, then declines toward 1.82 before recovering slightly near 2.14 in 2025. This volatility could reflect changing efficiency levels in asset utilization or equity management, likely influenced by the corresponding fluctuations in sales and equity values.