Compare · BA and GE
Boeing vs. GE Aerospace
Revenue, growth, margins, cash flow and cash returned, side by side from each company's latest annual report.
Boeing builds commercial jets and defense and space systems. GE Aerospace makes engines for passenger, cargo and military aircraft and earns much of its revenue from spare parts and services over the long lives of those engines. Below are the figures each one reported in its latest annual report (Form 10-K), side by side, with links to the filing behind every number. Both fiscal years end in December, so the periods line up. Why fiscal years differ.
Comparing Boeing fiscal 2025 (ended Dec 31, 2025) with GE Aerospace fiscal 2025 (ended Dec 31, 2025)
BoeingGE Aerospace
Each pair of bars shows both companies on one scale.
Revenue and growth
| Company | Prior year | Latest year | Change |
|---|---|---|---|
| Boeing (FY2024 to FY2025) | $66.5B | $89.5B | +34.5% |
| GE Aerospace (FY2024 to FY2025) | $38.7B | $45.9B | +18.5% |
Boeing reports total revenues: sales of commercial airplanes, defense and space systems, and services such as parts, maintenance and training. GE Aerospace reports total revenues: sales of jet engines, parts and services, plus defense and propulsion products.
Margins
| Company | Revenue | Net income | Net margin |
|---|---|---|---|
| Boeing FY2025 | $89.5B | $2.2B | 2.5% |
| GE Aerospace FY2025 | $45.9B | $8.7B | 19.0% |
Operating income is shown only when both companies report it as a line in their income statement.
Margin is the profit line divided by revenue, worked out by Ticker Sage from the linked figures. What profit margins measure.
Cash flow and cash returned
| Company | Cash from operations | Capital spending | Free cash flow | Buybacks | Dividends paid |
|---|---|---|---|---|---|
| Boeing FY2025 | $1.1B | $2.9B | −$1.9B | – | $331M |
| GE Aerospace FY2025 | $8.5B | $1.3B | $7.3B | $7.6B | $1.5B |
Capital spending is property and equipment for Boeing, and property, plant and equipment and internal-use software for GE Aerospace, as each company labels it in the cash flow statement. Free cash flow isn't a GAAP line; Ticker Sage works it out the same way for both. A dash means the company's filing data has no figure for that line. Boeing's dividends paid are on its mandatory convertible preferred stock; it suspended its common dividend in 2020. How free cash flow works · How buybacks work · How dividends work.
How each one makes money
Boeing
Commercial Airplanes builds the 737, 767, 777 and 787 jets for airlines and leasing companies. Defense, Space & Security builds military aircraft, weapons, satellites and space systems, mainly for the US government. Global Services provides parts, maintenance, training and data services.
Results swing with how many planes it delivers, since most of a plane's price is paid at delivery. Its fiscal year is the calendar year.
GE Aerospace
GE Aerospace has two reportable segments. Commercial Engines & Services makes engines for passenger and cargo planes, including through CFM International, its joint venture with Safran, and earns much of its revenue from spare parts and services over the long lives of those engines. Defense & Propulsion Technologies makes engines for military aircraft and helicopters, and aircraft systems and parts.
It became a standalone aerospace company in 2024 after spinning off GE HealthCare and GE Vernova. Its fiscal year is the calendar year.
Main risks each one lists
Boeing
- Production problems and accidents have led to regulatory limits and delivery delays.
- Parts shortages and strikes can slow production.
- New models and variants need regulators' approval, which can take longer than planned.
- Cost overruns on fixed-price defense programs have led to large charges.
- It carries a large amount of debt.
GE Aerospace
- Demand for engines and services depends on airline traffic, which can fall in downturns, pandemics or conflicts.
- Shortages of parts and materials from suppliers can delay deliveries and raise costs.
- Engine safety or durability problems can lead to costly repairs, groundings and claims.
- It depends on a few aircraft makers, airlines and partners such as Safran.
- Military revenue depends on government budgets and contract terms.
How they differ
- Size. Boeing reported $89.5B of revenue for fiscal 2025, and GE Aerospace $45.9B for fiscal 2025.
- Growth. Boeing's revenue grew 34.5% in its latest year and GE Aerospace's 18.5%.
- Margins. GE Aerospace kept 19.0% of revenue as net income and Boeing 2.5%.
- Revenue timing. Boeing's results swing with how many planes it delivers, since most of a plane's price is paid at delivery. GE Aerospace's services revenue follows engines already in use.
- Partners. GE's CFM International is a joint venture with Safran.
Differences in size, growth or margin describe the past year only. None of this says which business will do better.
Sources
- Boeing Form 10-K for fiscal 2025, filed Jan 30, 2026
- GE Aerospace Form 10-K for fiscal 2025, filed Jan 29, 2026
Boeing company file → · GE Aerospace company file →
Common questions
Which is bigger by revenue, GE Aerospace or Boeing?
Boeing reported $89.5B of revenue for fiscal 2025 and GE Aerospace $45.9B for fiscal 2025.
What does GE Aerospace sell?
Engines for passenger, cargo and military aircraft and helicopters, plus spare parts and services over the engines' lives. CFM International, its joint venture with Safran, is part of Commercial Engines & Services.
How do their profit margins compare?
In the latest fiscal year GE Aerospace's net margin was 19.0% and Boeing's was 2.5%, worked out from the net income and revenue in each 10-K.
Where do these numbers come from?
From each company's latest Form 10-K filed with the SEC. Every figure on this page links to the filing it came from.
Disclosures
- Editor holdings
- The editor holds no position in any company named on this page. As of Oct 25, 2026.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- Each company's own SEC filings, linked next to each number.
- Last updated
- Oct 26, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold any security, and it doesn't consider your situation.
More in Learn · Methodology & Disclosures explains where every number comes from.