General Electric Company (GE Aerospace)

Name: General Electric Company (GE Aerospace) financial statements and ratios
Creator: Annalist

GE · NYSE · Industrials, aerospace and defence · United States · US GAAP · Fiscal year ends December

Latest report: Q2 FY2026, the quarter ended 30 June 2026, released 16 July 2026. Snapshot FY2026Q2_e67695af.

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Overview

Revenue, quarter

+21.1% year on year

Pre-tax income, quarter

+17.2% year on year

Net income, quarter

+16.9% year on year

Diluted EPS, quarter

+19.6% year on year

Pre-tax margin, last 4 quarters

−0.7pp year on year

Return on equity, last 4 quarters

+7.7pp year on year

Select a figure to see the document it came from.

Key Findings

Findings for the latest quarter, with their history over earlier quarters.

Revenue for the quarter ended 30 June 2026 was US$13.3 billion, 21.1% higher than in the same quarter a year earlier.
Weakenedin Q2 FY2026 · stated since Q2 FY2024
Rule: Revenue against a year earlier · Sources 10-Q 2026-06
History of this finding, 9 records
1. Q2 FY2026 WeakenedRevenue for the quarter ended 30 June 2026 was US$13.3 billion, 21.1% higher than in the same quarter a year earlier.Recorded from FY2026Q2_52f4a2fa · data update
2. Q1 FY2026 StrengthenedRevenue for the quarter ended 31 March 2026 was US$12.4 billion, 24.7% higher than in the same quarter a year earlier.Reconstructed · data update
3. Q4 FY2025 WeakenedRevenue for the quarter ended 31 December 2025 was US$12.7 billion, 17.6% higher than in the same quarter a year earlier.Reconstructed · data update
4. Q3 FY2025 StrengthenedRevenue for the quarter ended 30 September 2025 was US$12.2 billion, 23.8% higher than in the same quarter a year earlier.Reconstructed · data update
5. Q2 FY2025 StrengthenedRevenue for the quarter ended 30 June 2025 was US$11.0 billion, 21.2% higher than in the same quarter a year earlier.Reconstructed · data update
6. Q1 FY2025 WeakenedRevenue for the quarter ended 31 March 2025 was US$9.9 billion, 10.9% higher than in the same quarter a year earlier.Reconstructed · data update
7. Q4 FY2024 StrengthenedRevenue for the quarter ended 31 December 2024 was US$10.8 billion, 14.3% higher than in the same quarter a year earlier.Reconstructed · data update
8. Q3 FY2024 StrengthenedRevenue for the quarter ended 30 September 2024 was US$9.8 billion, 5.8% higher than in the same quarter a year earlier.Reconstructed · data update
9. Q2 FY2024 NewRevenue for the quarter ended 30 June 2024 was US$9.1 billion, 3.9% higher than in the same quarter a year earlier.Reconstructed · initial
Net income attributable to the company was US$2.4 billion, 16.9% higher than in the same quarter a year earlier.
Newin Q2 FY2026 · first stated
Rule: Net income against a year earlier · Sources 10-Q 2026-06
History of this finding, 11 records
1. Q2 FY2026 NewNet income attributable to the company was US$2.4 billion, 16.9% higher than in the same quarter a year earlier.Recorded from FY2026Q2_52f4a2fa · data update
2. Q2 FY2026 RetiredThe finding changed to higher than a year earlier.Recorded from FY2026Q2_52f4a2fa · data update
3. Q1 FY2026 NewNet income attributable to the company was US$1.9 billion, 3.7% lower than in the same quarter a year earlier.Reconstructed · data update
4. Q1 FY2026 RetiredThe finding changed to lower than a year earlier.Reconstructed · data update
5. Q4 FY2025 StrengthenedNet income attributable to the company was US$2.5 billion, 33.8% higher than in the same quarter a year earlier.Reconstructed · data update
6. Q3 FY2025 WeakenedNet income attributable to the company was US$2.2 billion, 16.5% higher than in the same quarter a year earlier.Reconstructed · data update
7. Q2 FY2025 StrengthenedNet income attributable to the company was US$2.0 billion, 60.2% higher than in the same quarter a year earlier.Reconstructed · data update
8. Q1 FY2025 StrengthenedNet income attributable to the company was US$2.0 billion, 28.5% higher than in the same quarter a year earlier.Reconstructed · data update
9. Q4 FY2024 WeakenedNet income attributable to the company was US$1.9 billion, 19.5% higher than in the same quarter a year earlier.Reconstructed · data update
10. Q3 FY2024 WeakenedNet income attributable to the company was US$1.9 billion, 426.1% higher than in the same quarter a year earlier.Reconstructed · data update
11. Q2 FY2024 NewNet income attributable to the company was US$1.3 billion, 3,736.4% higher than in the same quarter a year earlier.Reconstructed · initial
Return on equity over the last 4 quarters was 48.8%, against 41.1% a year earlier.
Weakenedin Q2 FY2026 · stated since Q1 FY2025
Rule: Return on equity against a year earlier · Sources 10-Q 2025-06, 10-Q 2026-06, 10-Q 2025-09 and 4 more
History of this finding, 10 records
1. Q2 FY2026 WeakenedReturn on equity over the last 4 quarters was 48.8%, against 41.1% a year earlier.Recorded from FY2026Q2_52f4a2fa · data update
2. Q1 FY2026 ConfirmedReturn on equity over the last 4 quarters was 46.3%, against 28.5% a year earlier.Reconstructed · data update
3. Q4 FY2025 StrengthenedReturn on equity over the last 4 quarters was 45.8%, against 28.1% a year earlier.Reconstructed · data update
4. Q3 FY2025 WeakenedReturn on equity over the last 4 quarters was 42.8%, against 26.3% a year earlier.Reconstructed · data update
5. Q2 FY2025 StrengthenedReturn on equity over the last 4 quarters was 41.1%, against 19.1% a year earlier.Reconstructed · data update
6. Q1 FY2025 NewReturn on equity over the last 4 quarters was 28.5%, against 11.4% a year earlier.Reconstructed · data update
7. Q1 FY2025 RetiredThe finding changed to higher than a year earlier.Reconstructed · data update
8. Q4 FY2024 WeakenedReturn on equity over the last 4 quarters was 28.1%, against 31.0% a year earlier.Reconstructed · data update
9. Q3 FY2024 WeakenedReturn on equity over the last 4 quarters was 26.3%, against 33.6% a year earlier.Reconstructed · data update
10. Q2 FY2024 NewReturn on equity over the last 4 quarters was 19.1%, against 30.1% a year earlier.Reconstructed · initial
Free cash flow over the last 4 quarters was US$8.4 billion, and operating cash flow was 1.1 times net income attributable to the company.
Interpretation. Operating cash flow paid for all capital expenditure, and the rest is free for dividends, share buybacks or debt repayment.
Strengthenedin Q2 FY2026 · stated since Q2 FY2024
Rule: Free cash flow · Sources 10-Q 2025-06, 10-Q 2025-09, 10-K 2025-12 and 2 more
History of this finding, 9 records
1. Q2 FY2026 StrengthenedFree cash flow over the last 4 quarters was US$8.4 billion, and operating cash flow was 1.1 times net income attributable to the company.Recorded from FY2026Q2_52f4a2fa · data update
2. Q1 FY2026 ConfirmedFree cash flow over the last 4 quarters was US$7.5 billion, and operating cash flow was 1.0 times net income attributable to the company.Reconstructed · data update
3. Q4 FY2025 StrengthenedFree cash flow over the last 4 quarters was US$7.3 billion, and operating cash flow was 1.0 times net income attributable to the company.Reconstructed · data update
4. Q3 FY2025 StrengthenedFree cash flow over the last 4 quarters was US$6.4 billion, and operating cash flow was 0.9 times net income attributable to the company.Reconstructed · data update
5. Q2 FY2025 StrengthenedFree cash flow over the last 4 quarters was US$5.5 billion, and operating cash flow was 0.8 times net income attributable to the company.Reconstructed · data update
6. Q1 FY2025 StrengthenedFree cash flow over the last 4 quarters was US$4.2 billion, and operating cash flow was 0.7 times net income attributable to the company.Reconstructed · data update
7. Q4 FY2024 WeakenedFree cash flow over the last 4 quarters was US$3.7 billion, and operating cash flow was 0.7 times net income attributable to the company.Reconstructed · data update
8. Q3 FY2024 WeakenedFree cash flow over the last 4 quarters was US$5.5 billion, and operating cash flow was 1.0 times net income attributable to the company.Reconstructed · data update
9. Q2 FY2024 NewFree cash flow over the last 4 quarters was US$5.9 billion, and operating cash flow was 1.4 times net income attributable to the company.Reconstructed · initial
Net debt was US$9.8 billion at 30 June 2026.
Confirmedin Q2 FY2026 · stated since Q2 FY2024
Rule: Net debt or net cash · Sources 10-Q 2026-06
History of this finding, 10 records
1. Q2 FY2026 ConfirmedNet debt was US$9.8 billion at 30 June 2026.Recorded from FY2026Q2_fa097178 · correction
2. Q2 FY2026 StrengthenedNet debt was US$9.8 billion at 30 June 2026.Recorded from FY2026Q2_52f4a2fa · data update
3. Q1 FY2026 StrengthenedNet debt was US$9.3 billion at 31 March 2026.Reconstructed · data update
4. Q4 FY2025 ConfirmedNet debt was US$8.1 billion at 31 December 2025.Reconstructed · data update
5. Q3 FY2025 ConfirmedNet debt was US$8.4 billion at 30 September 2025.Reconstructed · data update
6. Q2 FY2025 StrengthenedNet debt was US$8.1 billion at 30 June 2025.Reconstructed · data update
7. Q1 FY2025 StrengthenedNet debt was US$7.2 billion at 31 March 2025.Reconstructed · data update
8. Q4 FY2024 WeakenedNet debt was US$5.7 billion at 31 December 2024.Reconstructed · data update
9. Q3 FY2024 WeakenedNet debt was US$6.2 billion at 30 September 2024.Reconstructed · data update
10. Q2 FY2024 NewNet debt was US$7.6 billion at 30 June 2024.Reconstructed · initial

Records before Q2 FY2026 are reconstructed from the latest snapshot. Ledger: findings.json. Correction of 19 October 2026: Annalist counted the short-term borrowings of General Electric twice. They were captured on their own and are also part of the current debt that the company reports. Total debt was overstated by US$4.71 billion at 31 December 2020 and by US$5 million to US$25 million at 5 quarter ends since 30 June 2025. Records 35, 36, 42, 43, 49, 57, 58, 66 and 67 cite figures that the correction changed. Records 69 and 70 state the corrected findings, net debt of US$9.8 billion at 30 June 2026 and a liquidity cover of 5.6 times. Correction of 20 October 2026: General Electric labelled its 10-Q for 31 March 2020 as the third quarter of 2019, and Annalist took the label: the third quarter of 2020 ran from 1 July to 31 March and showed revenue of minus US$16.9 billion. The quarters now follow the dates of the filings; the third quarter of 2020 shows US$18.5 billion. Annalist left the amortisation of intangible assets that General Electric reports on a line of its own out of depreciation and amortisation: US$0.86 billion for 2025 against US$1.22 billion with it. Capital expenditure of the fourth quarter of 2022, minus US$139 million, mixed 2 lines; it is now US$373 million. Dividends per share of 3 quarters derived from the figures of 2 filings are no longer published, and the first 2 quarters of 2020 now show 0.01 each, the dividend before the reverse stock split of 1 for 8. Correction of 22 October 2026: Changes against a year earlier compared 2 figures of different bases where a stock split, a spin-off or a restatement came between the 2 periods. 25 growth values changed, among them diluted earnings per share growth for the first quarter of fiscal 2021, minus 472.9% before the correction and minus 147.1% on one basis. No finding states the changes concerned.

Credit, liquidity, earnings quality and score findings: Analysis.

Data

Source documents30 documents, latest Form 10-Q, period ended 30 June 2026List

DownloadsExcel workbook · JSON

SnapshotFY2026Q2_e67695af

Corporate Events

Restatement29 January 2026
Restated revenue for fiscal 2023 from US$68.0 billion to US$35.3 billion.
Source 10-K 2025-12
Restatement3 February 2025
Restated revenue for fiscal 2022 from US$76.6 billion to US$29.1 billion.
Source 10-K 2024-12
Spin-off2 April 2024
Completed the spin-off of GE Vernova Inc.
Source 8-K 2024-04
Restatement2 February 2024
Restated revenue for fiscal 2021 from US$74.2 billion to US$56.5 billion.
Source 10-K 2023-12
Discontinued operations31 December 2023
Reported discontinued operations for fiscal 2023, with net income of US$414 million from them.
Source 10-K 2023-12
Restatement10 February 2023
Restated revenue for fiscal 2020 from US$79.6 billion to US$75.8 billion.
Source 10-K 2022-12
Spin-off3 January 2023
Completed the spin-off of GE HealthCare Technologies Inc.
Source 8-K 2023-01
Discontinued operations31 December 2022
Reported discontinued operations for fiscal 2022, with net income of US$1.2 billion from them.
Source 10-K 2023-12

6 earlier events

Discontinued operations31 December 2021
Reported discontinued operations for fiscal 2021, with a net loss of US$1.5 billion from them.
Source 10-K 2023-12
Sales of businesses for cash31 December 2021
Received US$22.4 billion from sales of businesses in fiscal 2021.
Source 10-K 2023-12
Disposal1 November 2021
Completed the disposal of a business, with AerCap Holdings N.V. as counterparty.
Source 8-K 2021-11
Reverse stock split26 October 2021
The filing reported a reverse stock split of 1 for 8.
Source 10-Q 2021-09
Discontinued operations31 December 2020
Reported discontinued operations for fiscal 2020, with a net loss of US$911 million from them.
Source 10-K 2022-12
Disposal31 March 2020
Completed the disposal of a business, with Danaher Corporation as counterparty.
Source 8-K 2020-03

Earnings, Returns and Balance Sheet

Revenue

By quarter, US dollars

Income Before Income Taxes

By quarter, US dollars

Net Income Attributable to the Company

By quarter, US dollars

Margins

Last 4 quarters at each quarter end, per cent

Returns

Last 4 quarters, per cent

Free Cash Flow

Operating cash flow less capital expenditure, by quarter, US dollars

Net Debt

Total debt less cash and short-term investments, at quarter end, US dollars

Diluted Earnings per Share

By quarter, as reported

Financial Statements

Figures as filed. Select a figure for its source document and method; a small d marks a quarter derived from cumulative reports.

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Ratios

Select a ratio for its formula and the figures it uses, each with its document; (i) gives its definition.

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Analysis

Credit update

Q2 FY2026

Form 10-Q, period ended 30 June 2026, filed 16 July 2026. Changes are against the previous report, and each figure shows its period.

4changes0thresholds crossed

Changes in This Report 4

WeakenedRevenue Against a Year Earlier10-Q 2026-06
Revenue for the quarter ended 30 June 2026 was US$13.3 billion, 21.1% higher than in the same quarter a year earlier.
Earlier record, Q1 FY2026
Revenue for the quarter ended 31 March 2026 was US$12.4 billion, 24.7% higher than in the same quarter a year earlier.
NewNet Income Against a Year Earlier10-Q 2026-06
Net income attributable to the company was US$2.4 billion, 16.9% higher than in the same quarter a year earlier.
Earlier record, Q1 FY2026
Net income attributable to the company was US$1.9 billion, 3.7% lower than in the same quarter a year earlier.
WeakenedReturn on Equity Against a Year Earlier10-Q 2026-06
Return on equity over the last 4 quarters was 48.8%, against 41.1% a year earlier.
Earlier record, Q1 FY2026
Return on equity over the last 4 quarters was 46.3%, against 28.5% a year earlier.
StrengthenedFree Cash Flow10-Q 2026-06
Free cash flow over the last 4 quarters was US$8.4 billion, and operating cash flow was 1.1 times net income attributable to the company.
Earlier record, Q1 FY2026
Free cash flow over the last 4 quarters was US$7.5 billion, and operating cash flow was 1.0 times net income attributable to the company.

Thresholds Crossed 0

No published finding crosses a threshold.

Fiscal years and the latest quarter, with flows over the last 4 quarters and balances at the quarter end. Select a value for its formula and the figures it uses.

Credit MetricsLease-adjusted debt, EBITDA and cash flow on the definitions of S&P and Moody's, as far as the filings allow.

Lease-adjusted debt, EBITDA and cash flow on the definitions of S&P and Moody's, as far as the filings allow.

By Fiscal Year

Ratio	FY202131 Dec 2021	FY202231 Dec 2022	FY202331 Dec 2023	FY202431 Dec 2024	FY202531 Dec 2025	Q2 FY2026latest quarter
Lease-adjusted debtBorrowings plus the obligations of long-term leases, such as rents of stores, offices and warehouses, which credit analysts count as debt.Total debt + operating lease liabilities
Operating cash flow to debtOperating cash flow, with lease costs added back, as a share of lease-adjusted debt. A higher share means the debt could be repaid sooner from operating cash.Lease-adjusted operating cash flow / lease-adjusted debt
Free operating cash flow to debtOperating cash flow less capital spending, as a share of lease-adjusted debt: the cash left for the debt after the company maintains and expands its assets.(Lease-adjusted operating cash flow - capital expenditure) / lease-adjusted debt
Discretionary cash flow to debtCash left after capital spending, dividends and share repurchases, as a share of lease-adjusted debt. A negative figure means the company paid out more than it generated.(Lease-adjusted operating cash flow - capital expenditure - dividends - repurchases of common stock) / lease-adjusted debt
Liquid assets to debtCash and short-term investments as a share of lease-adjusted debt: the part of the debt that cash on hand could repay at once.(Cash + short-term investments) / lease-adjusted debt

Reconciliation of the Credit Figures

Item	FY202131 Dec 2021	FY202231 Dec 2022	FY202331 Dec 2023	FY202431 Dec 2024	FY202531 Dec 2025	Q2 FY2026latest quarter
Total debt	$35.2bn	$24.1bn	$20.5bn	$19.3bn	$20.5bn	$19.2bn
Operating lease liabilities	$2.8bn	$2.1bn	$1.2bn	$1.1bn	$1.1bn	$1.1bn
Lease-adjusted debt	$38.0bn	$26.1bn	$21.8bn	$20.4bn	$21.6bn	$20.2bn

Method

Lease-adjusted debt is total debt plus operating lease liabilities, before the deduction of cash. Adjusted EBITDA adds goodwill impairment, share-based compensation and operating lease cost to EBIT and depreciation and amortisation; restructuring and litigation charges, other impairments and profits on disposals stay in EBIT. FFO deducts cash interest, lease interest and cash taxes.
Lease interest is the average operating lease liability times the weighted average discount rate of the leases, or the implied cost of debt where the rate is not reported.
S&P applies its table to its own adjusted figures, which also deduct surplus cash and adjust for pensions and other items, so the band of an S&P calculation can differ.

Liquidity and MaturitiesLiquidity cover 5.62x, Debt due within 12 months $2.0bn · Q2 FY2026

Cash and operating cash flow against debt due within 12 months, capital expenditure and dividends, with the debt maturities of the latest annual report.

Cash, short-term investments and operating cash flow over the last 4 quarters equalled 5.6 times the sum of debt due within 12 months, capital expenditure and dividends.
Interpretation. Cash on hand and 1 year of operating cash flow pay for the debt due in the next 12 months, capital expenditure and dividends, without new borrowing. Undrawn credit lines are not counted.
Confirmedin Q2 FY2026 · stated since Q2 FY2024
Rule: Liquidity cover · Sources 10-Q 2026-06, 10-Q 2025-06, 10-Q 2025-09 and 2 more
History of this finding, 12 records
1. Q2 FY2026 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 5.6 times the sum of debt due within 12 months, capital expenditure and dividends.Recorded from FY2026Q2_fa097178 · methodology
2. Q2 FY2026 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 5.6 times the sum of debt due within 12 months, capital expenditure and dividends.Recorded from FY2026Q2_fa097178 · methodology
3. Q2 FY2026 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 5.6 times the sum of debt due within 12 months, capital expenditure and dividends.Recorded from FY2026Q2_fa097178 · correction
4. Q2 FY2026 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 5.6 times the sum of debt due within 12 months, capital expenditure and dividends.Recorded from FY2026Q2_52f4a2fa · data update
5. Q1 FY2026 WeakenedCash, short-term investments and operating cash flow over the last 4 quarters equalled 5.6 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
6. Q4 FY2025 StrengthenedCash, short-term investments and operating cash flow over the last 4 quarters equalled 7.1 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
7. Q3 FY2025 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 6.3 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
8. Q2 FY2025 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 5.8 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
9. Q1 FY2025 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 5.7 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
10. Q4 FY2024 WeakenedCash, short-term investments and operating cash flow over the last 4 quarters equalled 6.0 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
11. Q3 FY2024 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 7.5 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
12. Q2 FY2024 NewCash, short-term investments and operating cash flow over the last 4 quarters equalled 7.1 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · initial

Sources and Uses, Last 4 Quarters to Q2 FY2026

Sources	Amount
Cash and short-term investments	$9.3bn
Operating cash flow	$9.8bn
Sources	$19.1bn

Uses	Amount
Debt due within 12 months	$2.0bn
Capital expenditure	$1.4bn
Dividends paid	$0
Uses	$3.4bn

Liquidity cover 5.62x

Debt Maturities at 31 December 2025

Principal due by fiscal year, US dollars

FY2026	FY2027	FY2028	FY2029	FY2030	After FY2030	Total
$1.7bn	$1.7bn	$480m	$1.6bn	$1.7bn	$13.3bn	$20.5bn

By Fiscal Year

Ratio	FY202131 Dec 2021	FY202231 Dec 2022	Q2 FY2026latest quarter
Liquidity coverCash on hand plus a year of operating cash flow, against the cash needed in the next 12 months for maturing debt, capital spending and dividends. Above 1, these sources cover the uses without new borrowing.(Cash + short-term investments + operating cash flow) / (debt due within 12 months + capital expenditure + dividends); the flows of the fiscal year or of the last 4 quarters are taken as those of the next 12 months, and undrawn facilities are not included
Debt due within 12 monthsBorrowings due within the next 12 months, which the company must repay or refinance.The larger of long-term debt maturing within 12 months in the maturity schedule and the current portion of long-term debt, + short-term borrowings
Maturity concentrationThe largest amount of debt due in a single year of the next 5, as a share of the debt in the schedule. A high share means the repayments are concentrated in 1 year.Largest single year of debt maturing within 5 years / total debt in the maturity schedule	n/a	n/a	n/a

Method

Debt due within 12 months is the larger of the first year of the maturity schedule and the current portion of long-term debt, plus short-term borrowings. The schedule of a quarterly report can cover the rest of the fiscal year only and leaves out finance leases.
Capital expenditure and dividends of the fiscal year, or of the last 4 quarters, are taken as those of the next 12 months. Undrawn credit facilities are not included.

Earnings QualityCash-flow accruals −0.7% · Q2 FY2026

Accruals and the cash backing of reported earnings.

Operating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 0.7% of average total assets.
Interpretation. The profit came in as cash: operating cash flow was larger than net income. Profit backed by cash tends to repeat more than profit made of accounting entries (Sloan, 1996).
Confirmedin Q2 FY2026 · stated since Q1 FY2026
Rule: Cash backing of earnings · Sources 10-Q 2025-06, 10-Q 2026-06, 10-Q 2025-09 and 2 more
History of this finding, 12 records
1. Q2 FY2026 ConfirmedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 0.7% of average total assets.Recorded from FY2026Q2_fa097178 · methodology
2. Q2 FY2026 ConfirmedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 0.7% of average total assets.Recorded from FY2026Q2_52f4a2fa · data update
3. Q1 FY2026 NewOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 0.2% of average total assets.Reconstructed · data update
4. Q1 FY2026 RetiredThe finding changed to earnings backed by cash.Reconstructed · data update
5. Q4 FY2025 ConfirmedNet income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 0.1% of average total assets.Reconstructed · data update
6. Q3 FY2025 WeakenedNet income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 0.4% of average total assets.Reconstructed · data update
7. Q2 FY2025 ConfirmedNet income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 1.0% of average total assets.Reconstructed · data update
8. Q1 FY2025 ConfirmedNet income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 1.2% of average total assets.Reconstructed · data update
9. Q4 FY2024 NewNet income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 1.2% of average total assets.Reconstructed · data update
10. Q4 FY2024 RetiredThe finding changed to earnings led by accruals.Reconstructed · data update
11. Q3 FY2024 WeakenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 0.2% of average total assets.Reconstructed · data update
12. Q2 FY2024 NewOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 1.5% of average total assets.Reconstructed · initial

Net Income and Operating Cash Flow

Last 4 quarters at each quarter end, US dollars

By Fiscal Year

Ratio	FY202131 Dec 2021	FY202231 Dec 2022	FY202331 Dec 2023	FY202431 Dec 2024	FY202531 Dec 2025	Q2 FY2026latest quarter
Cash-flow accrualsNet income less operating cash flow, against average assets: the part of profit not received in cash in the same period. Research associates high accruals with lower earnings in later years; a negative figure means cash exceeded profit.(Net income attributable to the company - operating cash flow) / average total assets
Balance sheet accrualsThe same gap between profit and cash, measured from the changes in the balance sheet (Sloan, 1996).[(Change in current assets - change in cash) - (change in current liabilities - change in short-term debt - change in taxes payable) - depreciation and amortisation] / average total assets (Sloan, 1996)
Total accrualsAccruals that also cover long-term operating and financial assets and liabilities (Richardson, Sloan, Soliman and Tuna, 2005). Acquisitions raise the figure.Change in net operating working capital, net non-current operating assets and net financial assets / average total assets (Richardson, Sloan, Soliman and Tuna, 2005)
Free cash flow to net incomeFree cash flow against net income. Below 1, investment and working capital take up part of the profit.(Operating cash flow - capital expenditure) / net income attributable to the company	n/a
Working capital investment to revenueCash put into receivables and stock, less extra credit from suppliers and customers, as a share of revenue. A positive figure means growth or slower collection uses cash.(Increase in receivables + increase in inventories - increase in payables - increase in contract liabilities) / revenue

Method

Cash-flow accruals are net income attributable to the company less operating cash flow, over average total assets. Balance sheet accruals follow Sloan (1996) and total accruals Richardson, Sloan, Soliman and Tuna (2005).
Balance sheet and total accruals include the assets and liabilities that acquisitions bring in and disposals take out; cash-flow accruals exclude them.

Forensic and Distress ScoresPublished distress and misstatement models, with their original coefficients and thresholds.

Published distress and misstatement models, with their original coefficients and thresholds.

By Fiscal Year

Ratio	FY202231 Dec 2022	FY202331 Dec 2023	FY202431 Dec 2024	FY202531 Dec 2025
Dechow F-scoreThe probability of a material misstatement in the accounts, estimated from accruals, receivables, stock, cash sales, profitability and new financing, against the average. A score of 1 means average risk and 2 means twice the average.Predicted probability of a misstatement (model 1 of Dechow, Ge, Larson and Sloan, 2011) / 0.0037, the unconditional probability; 1 equals the base rate

Dechow F-score

fiscal 2025

The probability of a material misstatement in the accounts, estimated from accruals, receivables, stock, cash sales, profitability and new financing, against the average. A score of 1 means average risk and 2 means twice the average.

A score of 1.81 means a probability of a misstatement 1.81 times the average rate in the Dechow sample: 0.67% against 0.37%.

Part	Value	Coefficient	Contribution
Intercept			−7.893
Total accruals (Richardson, Sloan, Soliman and Tuna)Total accruals: the growth of operating and financial assets net of liabilities, against average assets.	0.004	0.790	0.003
Change in receivables / average total assetsThe growth of receivables against average assets.	0.019	2.518	0.049
Change in inventories / average total assetsThe growth of stock against average assets.	0.017	1.191	0.020
Assets other than cash and property, plant and equipment / total assetsAssets other than cash and property, plant and equipment, as a share of total assets: assets whose value depends more on judgement.	0.905	1.979	1.791
Change in cash salesThe growth of sales collected in cash.	0.140	0.171	0.024
Change in return on assetsThe change in return on assets against a year earlier. A fall raises the score.	0.024	−0.932	−0.023
Debt or equity issued in the year, 1 or 01 when the company issued shares or debt in the year.	1.000	1.029	1.029
Predicted value			−5.000
Probability of a misstatement			0.67%

Model 1 of Dechow, Ge, Larson and Sloan (2011), estimated on misstatements named in SEC Accounting and Auditing Enforcement Releases. The score is the predicted probability of a misstatement over 0.37%, the unconditional probability in their sample, so 1.00 equals that base rate.

Source Documents

Documents of this snapshot, latest first.

Document	Date	Id
Form 10-Q, period ended 30 June 2026	16 Jul 2026	10-Q:0000040545-26-000049
Form 10-Q, period ended 31 March 2026	21 Apr 2026	10-Q:0000040545-26-000027
Form 10-K, period ended 31 December 2025	29 Jan 2026	10-K:0000040545-26-000008
Form 10-Q, period ended 30 September 2025	21 Oct 2025	10-Q:0000040545-25-000132
Form 10-Q, period ended 30 June 2025	21 Jul 2025	10-Q:0000040545-25-000111
Form 10-Q, period ended 31 March 2025	22 Apr 2025	10-Q:0000040545-25-000062
Form 10-K, period ended 31 December 2024	3 Feb 2025	10-K:0000040545-25-000015
Form 10-Q, period ended 30 September 2024	22 Oct 2024	10-Q:0000040545-24-000200
Form 10-Q, period ended 30 June 2024	23 Jul 2024	10-Q:0000040545-24-000176
Form 10-Q, period ended 31 March 2024	23 Apr 2024	10-Q:0000040545-24-000113
Form 8-K, period ended 1 April 2024	2 Apr 2024	8-K:0001193125-24-084038
Form 10-K, period ended 31 December 2023	2 Feb 2024	10-K:0000040545-24-000027
Form 10-Q, period ended 30 September 2023	24 Oct 2023	10-Q:0000040545-23-000238
Form 10-Q, period ended 30 June 2023	25 Jul 2023	10-Q:0000040545-23-000198
Form 10-Q, period ended 31 March 2023	25 Apr 2023	10-Q:0000040545-23-000136
Form 10-K, period ended 31 December 2022	10 Feb 2023	10-K:0000040545-23-000023
Form 8-K, period ended 3 January 2023	4 Jan 2023	8-K:0001193125-23-001157
Form 10-Q, period ended 30 September 2022	25 Oct 2022	10-Q:0000040545-22-000060
Form 10-Q, period ended 30 June 2022	26 Jul 2022	10-Q:0000040545-22-000050
Form 10-Q, period ended 31 March 2022	26 Apr 2022	10-Q:0000040545-22-000027
Form 10-K, period ended 31 December 2021	11 Feb 2022	10-K:0000040545-22-000008
Form 8-K, period ended 1 November 2021	5 Nov 2021	8-K:0000040545-21-000069
Form 10-Q, period ended 30 September 2021	26 Oct 2021	10-Q:0000040545-21-000064
Form 10-Q, period ended 30 June 2021	27 Jul 2021	10-Q:0000040545-21-000052
Form 10-Q, period ended 31 March 2021	27 Apr 2021	10-Q:0000040545-21-000026
Form 10-K, period ended 31 December 2020	12 Feb 2021	10-K:0000040545-21-000011
Form 10-Q, period ended 30 September 2020	28 Oct 2020	10-Q:0000040545-20-000058
Form 10-Q, period ended 30 June 2020	29 Jul 2020	10-Q:0000040545-20-000046
Form 10-Q, period ended 31 March 2020	29 Apr 2020	10-Q:0000040545-20-000021
Form 8-K, period ended 31 March 2020	6 Apr 2020	8-K:0000040545-20-000012

Checks

255194 of 255 checks passed, 61 warnings

Fiscal calendar68 passedFiscal years last 350 to 380 days, quarters 80 to 125 days, and each period starts on the day after the one before. Checked at error level.

Quarters and fiscal year65 of 107 passedThe 4 quarters of every item add up to its fiscal year, or a later filing restated the year. Checked at error level; a difference that a later report explains is a warning, which does not stop publication.

Revenue, FY2020: $76,753m against $75,833m

Cost of revenue, FY2020: $56,468m against $60,421m

Selling, general and administrative expense, FY2020: $12,594m against $12,628m

Income before income taxes, FY2020: $6,111m against $5,970m

Income tax expense, FY2020: −$426m against −$487m

Revenue, FY2021: $74,196m against $56,469m

Reported quarters0 of 1 passedA quarter that a filing reports on its own agrees with the figures of the same filing. Checked at warning level.

Operating lease cost, Q3 FY2022: $602m against $205m

Withheld values4 values withheldA value that contradicts the definition of its item, or that documents report in contradiction, is withheld. Checked at warning level.

Earnings per share, diluted, FY2022: withheld, reported with opposite signs

Operating lease cost, Q4 FY2021: withheld, negative where the item cannot be negative

Operating lease cost, Q4 FY2023: withheld, negative where the item cannot be negative

Operating lease cost, Q4 FY2024: withheld, negative where the item cannot be negative

Filer identity1 passedThe documents are those of the company of this page. Checked at error level.

Balance sheet identity26 passedTotal assets equal total liabilities and equity at each balance sheet date. Checked at error level.

Balance sheet structure14 of 26 passedTotal assets equal liabilities, temporary equity and total equity. Checked at warning level.

31 Mar 2020: $262,021m against $262,491m

30 Jun 2020: $256,487m against $256,961m

30 Sep 2020: $254,315m against $254,813m

31 Dec 2020: $256,211m against $256,698m

31 Mar 2021: $245,164m against $245,615m

30 Jun 2021: $237,559m against $238,016m

Lease liabilities2 of 3 passedLease payments due, less imputed interest, equal the lease liabilities. Checked at warning level.

31 Dec 2023: $1,973m against $1,239m

Debt maturities3 passedThe debt maturity schedule adds up to the long-term debt. Checked at warning level.

Quarters and 9 months10 passedThe 3 reported quarters of a fiscal year add up to the reported 9-month figure. Checked at error level.

Earnings per share5 of 6 passedNet income divided by average shares agrees with reported basic earnings per share. Checked at warning level.

FY2020: 4.781 against 4.63

Data Quality

How many values of this snapshot the checks prove, and how many Annalist derives, withholds and tracks as restated. Every company.

Values published	1,374
Proven by a check	30.6%, 420 values
Confirmed by a second document	0.0%, 0 values
Derived from reported figures	18.2%, 250 values
Values withheld	4
Restated figures tracked	336
Changes compared on one basis	46
Company lines mapped	0 of 2 reviewed

Citation

Annalist, General Electric Company (GE Aerospace), snapshot general-electric/FY2026Q2_e67695af (as of FY2026 Q2); <item label>, <period>; source <document id> (<document url>)

Snapshot FY2026Q2_e67695af · dataset SHA-256 e67695af6a9f4d6b913e38eefa235b9d760ccb4ed80509a892d9843194983ba1 · findings rules 0.4

Data: info.json · dataset.json · validation.json · documents.json