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GE Aerospace

GE Aerospace's revenue grew in 2025, led by engines and services for airlines

Commercial Engines & Services brought in $33.3B, up 24.7%, out of $45.9B in total revenues. Net income rose 32.8% to $8.7B.

Prepared from SEC filings · Latest annual report: 10-K for FY2025 (filed Jan 29, 2026) · Latest quarter: 10-Q for the quarter ended Sep 30, 2026 (filed Oct 20, 2026) · Data pulled Oct 25, 2026

Key facts

GE Aerospace (NYSE: GE) closed fiscal 2025 on Dec 31, 2025 with total revenues of $45.9B, up 18.5% from a year before; net income came to $8.7B, up 32.8%. Its newest quarterly report covers the three months to Sep 30, 2026: revenue of $14.1B, up 15.9% on the same stretch of the prior year, and net income of $2.3B. Broken down by segment, Commercial Engines & Services led with 73% of fiscal 2025 total revenues. Sources: 10-K for fiscal 2025 (filed Jan 29, 2026) and 10-Q for the quarter ended Sep 30, 2026 (filed Oct 20, 2026).

Revenue$45.9BFY2025 · +18.5% vs FY2024
Net income$8.7BFY2025 · +32.8% vs FY2024
Operating cash flow$8.5BFY2025 · +81.3% vs FY2024
Cash & equivalents$8.8Bat Sep 30, 2026 · −29.3% vs FY2025 end
Total debt$19.3Bat Sep 30, 2026 · −5.7% vs FY2025 end
Diluted shares1.07BFY2025 avg · −2.4% vs FY2024
Total revenues and net income, three fiscal yearsBy fiscal year, $bn
Total revenuesNet income
Total revenues and net income by fiscal yearTotal revenues FY2023: $35.3B35.3Net income FY2023: $9.5B9.5FY2023Total revenues FY2024: $38.7B38.7Net income FY2024: $6.6B6.6FY2024Total revenues FY2025: $45.9B45.9Net income FY2025: $8.7B8.7FY2025

Source: 10-K FY2025, filed Jan 29, 2026

Quarterly total revenues: fiscal 2026 vs a year earlierFiscal Q1–Q3, $bn (each quarter from that quarter's 10-Q)
FY2025FY2026
Quarterly total revenues, fiscal 2026 vs 2025FY2025 Q1: $9.9B9.9FY2026 Q1: $12.4B12.4Q1FY2025 Q2: $11.0B11.0FY2026 Q2: $13.3B13.3Q2FY2025 Q3: $12.2B12.2FY2026 Q3: $14.1B14.1Q3

Source: 10-Q filed Apr 21, 2026 · 10-Q filed Jul 16, 2026 · 10-Q filed Oct 20, 2026

How it makes money

FY2025 total by categoryCommercial Engines & Services: $33.3B (73%)Defense & Propulsion Technologies: $8.9B (19%)Corporate and other: $3.7B (8%)$45.9BFY2025 total

By segment, FY2025

  • LineAmountSharevs FY2024
  • Commercial Engines & Services$33.3B73%+24.7%
  • Defense & Propulsion Technologies$8.9B19%+10.5%
  • Corporate and other$3.7B8%−6.9%

Source: 10-K FY2025, XBRL breakdown

Commercial Engines & Services was 73% of 2025 revenue and Defense & Propulsion Technologies 19%. About 60% of revenue came from outside the United States.

By segment: three-year mixShare of the total each fiscal year
Commercial Engines & ServicesDefense & Propulsion TechnologiesCorporate and other

Source: 10-K FY2025

What changed last quarter

How the quarter compared with a year earlier

Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)

Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.

Q3 2026Q3 2025

Company

Revenue
$14.1B Q3 2026
$12.2B Q3 2025
15.9% increase
Net income
$2.3B Q3 2026
$2.2B Q3 2025
6.1% increase

Source: GE Aerospace 10-Q for the quarter ended Sep 30, 2026, filed Oct 20, 2026

By segment

Commercial Engines & Services
$10.3B Q3 2026
$8.5B Q3 2025
21.4% increase
Defense & Propulsion Technologies
$3.5B Q3 2026
$3.3B Q3 2025
6.7% increase

Source: GE Aerospace 10-Q for the quarter ended Sep 30, 2026, filed Oct 20, 2026

  • Cash & equivalents $8.8B at Sep 30, 2026, vs $12.4B at FY2025 end.
  • Total debt $19.3B at Sep 30, 2026, vs $20.5B at FY2025 end.
  • Operating cash flow, first 9 months of fiscal 2026: $7.2B vs $6.3B a year earlier.

The bull case and the bear case

The bull case

The bear case

  • Net income in the quarter ended Sep 30, 2026 was $2.3B, up just 6.1% on a year earlier, slower than revenue. 10-Q, quarter ended Sep 30, 2026
  • Cash was $8.8B at Sep 30, 2026, down from $12.4B at the end of 2025. 10-Q, quarter ended Sep 30, 2026
  • Most revenue depends on commercial air travel and airline fleets, which the 10-K notes can be hit by economic downturns and other shocks. 10-K, Item 1A
  • The 10-K also lists supply chain constraints that can limit how many engines it delivers. 10-K, Item 1A

What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.

What the company does

GE Aerospace designs, makes and services jet engines and aircraft systems for commercial airlines, the military and business aviation.

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.

Source: 10-K, Item 1 Business

Main risks the company lists

Our plain-English paraphrase of the risk factors in GE Aerospace's latest 10-K. Read the original for the full list.

  1. Air travelDemand for engines and services depends on airline traffic, which can fall in downturns, pandemics or conflicts.
  2. Supply chainShortages of parts and materials from suppliers can delay deliveries and raise costs.
  3. Product qualityEngine safety or durability problems can lead to costly repairs, groundings and claims.
  4. Customers and partnersIt depends on a few aircraft makers, airlines and partners such as Safran.
  5. Defense spendingMilitary revenue depends on government budgets and contract terms.
  6. International and tradeMost revenue is outside the US, exposing it to trade rules, export controls and currency.
  7. Cyber and legalCyberattacks, legacy liabilities from the former GE and litigation are listed risks.

Source: 10-K, Item 1A Risk Factors (the full list, in the company's words)

Three years of key numbers

Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.

US$FY2023FY2024FY2025
Total revenues$35.3B$38.7B$45.9B
Net income$9.5B$6.6B$8.7B
Operating cash flow$5.2B$4.7B$8.5B
Cash & equivalents (year end)$15.2B$13.6B$12.4B
Total debt (year end)$20.5B$19.3B$20.5B
Diluted shares1.10B1.09B1.07B
  • Total revenues: Sales of jet engines, parts and services, plus defense and propulsion products.
  • Net income: Profit after all costs and taxes.
  • Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
  • Cash & equivalents: Cash, cash equivalents and restricted cash, as reported by GE Aerospace.
  • Total debt: Short-term and long-term borrowings, at carrying value.
  • Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.

About these numbers

  • Corporate and other includes eliminations of sales between the segments and other items not in the two segments, so it can be negative or positive.
  • Total debt is current debt plus long-term debt, including finance leases, at carrying value.

Recent filings

FormFiledPeriod
10-QOct 20, 2026Sep 30, 2026
10-QJul 16, 2026Jun 30, 2026
10-QApr 21, 2026Mar 31, 2026
DEF 14AMar 12, 2026May 5, 2026
10-KJan 29, 2026Dec 31, 2025

Latest filings

  1. Oct 206:30 AM ET

    8-K

    GE Aerospace files an 8-K on quarterly results

    GE Aerospace filed a Form 8-K on Oct 20, 2026 at 6:30 AM ET under Item 2.02 (Results of Operations and Financial Condition).

  2. Oct 24:07 PM ET

    Form 4

    GE Aerospace director Wesley G. Bush reports an award of 120 phantom stock units

    The filing reports 120 phantom stock units in a grant or award (code A).

  3. Oct 24:06 PM ET

    Form 4

    GE Aerospace director Sebastien Bazin reports an award of 117 phantom stock units

    The filing reports 117 phantom stock units in a grant or award (code A).

  4. Oct 24:06 PM ET

    Form 4

    GE Aerospace director Judson Althoff reports an award of 35 phantom stock units

    The filing reports 35 phantom stock units in a grant or award (code A).

All GE Aerospace filings notes →

Common questions about GE Aerospace

How does GE Aerospace make money?

Fiscal 2025 total revenues: $45.9B. Commercial Engines & Services was 73% of 2025 revenue and Defense & Propulsion Technologies 19%. About 60% of revenue came from outside the United States. Source: 10-K for fiscal 2025, filed Jan 29, 2026.

What was GE Aerospace's revenue in fiscal 2025?

$45.9B, up 18.5% from fiscal 2024 ($38.7B). The year ended Dec 31, 2025; for fiscal 2023 the figure was $35.3B. Source: 10-K for fiscal 2025, filed Jan 29, 2026.

Is GE Aerospace profitable?

Net income was $8.7B in fiscal 2025 (up 32.8%; fiscal 2024 was $6.6B). That counts as a GAAP profit. The latest quarter, ended Sep 30, 2026: net income was $2.3B. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Jan 29, 2026.

What did GE Aerospace report in its latest quarterly filing?

For the three months to Sep 30, 2026: revenue $14.1B (up 15.9% from $12.2B) and net income $2.3B (up 6.1% from $2.2B). Source: 10-Q for the quarter ended Sep 30, 2026, filed Oct 20, 2026.

How much cash and debt does GE Aerospace have?

As of Sep 30, 2026: $8.8B of cash and cash equivalents, $19.3B of total debt. Total debt here is short-term and long-term borrowings, at carrying value. Source: 10-Q filed Oct 20, 2026.

What are the main risks GE Aerospace lists?

The risk factors are in Item 1A of the 10-K filed Jan 29, 2026. This page sorts them into 7 groups (Air travel; supply chain; product quality; customers and partners; defense spending; international and trade; cyber and legal). The first group in plain English: Demand for engines and services depends on airline traffic, which can fall in downturns, pandemics or conflicts. Source: 10-K, Item 1A Risk Factors.

Where do these GE Aerospace numbers come from?

The 10-K filed Jan 29, 2026 (fiscal 2025) and the 10-Q filed Oct 20, 2026 (quarter ended Sep 30, 2026), as published in the SEC's XBRL data. Click any number to open the filing it came from. Methodology explains how fiscal years and missing numbers are handled.

Disclosures

Editor holdings in GE
The editor holds no position in GE Aerospace (GE). As of Oct 25, 2026.
Trading rule
The editor does not buy or sell GE from 3 days before to 3 days after this page is published or substantively updated.
Compensation
Nobody paid for this page. No affiliate links on this page.
Sources
The company's SEC filings, linked next to each number or, for charts, in the source line under them.
Last updated
Oct 25, 2026

General education, the same for every reader. Not a recommendation to buy, sell or hold GE, and it doesn't consider your situation.

Compare with peers

CompanyFiscal yearRevenueRevenue growthNet income
GE AerospaceGEFY2025$45.9B+18.5%$8.7B
RTXFY2025$88.6B+9.7%$6.7B
BoeingBAFY2025$89.5B+34.5%$2.2B
GE VernovaGEVFY2025$38.1B+9.0%$4.9B

Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.

More company files

New to filings? Learn lists the first explainer topics. Methodology & Disclosures covers where every number comes from.