GENERAL ELECTRIC CO（GE）の決算・業績分析
GENERAL ELECTRIC COの2025年有価証券報告書をAI分析。売上高$45.9B(+364.2%)。Information Technology。
目次
GENERAL ELECTRIC COの2025年度 業績サマリー
GENERAL ELECTRIC CO（証券コード: GE）の2025年度決算・業績分析。売上高は$45.9B（前年比+364.2%）。純利益は$8.7B（前年比+32.8%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
GENERAL ELECTRIC COの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue declined 40.9% YoY to $7.0B (XBRL), driven by cyclical commercial aviation sector volatility (10-K).
- Net income surged 105.3% YoY to $336M (XBRL), despite a $2.4B operating loss (XBRL).
- Free cash flow reached $8.2B (XBRL), but long-term debt remains elevated at $19.3B (XBRL).
- ROE of 1.2% (XBRL) and ROIC of -1.2% (XBRL) reflect weak profitability amid high leverage.
- Dividend payout ratio of 190.2% (XBRL) and $1.0B in share repurchases (XBRL) highlight shareholder returns.
GENERAL ELECTRIC COの売上高変化の要因
- •Revenue fell to $7.0B (XBRL), down -40.9% YoY, reflecting a 5-year CAGR of -18.3% (XBRL). Historical data shows a steep decline from $97.0B in FY2020 to $7.0B in FY2024 (XBRL), though FY2025 revenue jumps to $35.3B (XBRL). The commercial aviation sector's cyclical nature (10-K) and divestitures (e.g., GE HealthCare in 2022, GE Vernova in 2024) (10-K) likely contributed to the decline. No segment-specific revenue data is available (XBRL/10-K).
GENERAL ELECTRIC COの営業利益変化の要因
- •Operating income turned negative at -$2.4B (XBRL), with an operating margin of -34.5% (XBRL). Net income improved to $336M (XBRL), a 105.3% YoY increase, but net margin remains low at 4.8% (XBRL). The sharp drop in revenue (-40.9% YoY) and high debt ($19.3B) (XBRL) likely pressured profitability. ROE of 1.2% (XBRL) and ROA of 0.2% (XBRL) indicate weak returns on capital.
GENERAL ELECTRIC COの事業リスクと対応
Global macro-environmental risks (e.g., pandemics, trade tensions) impact revenue, supply chains, and profitability (10-K).
Commercial aviation sector volatility affects demand for engines and services (10-K).
High debt levels ($19.3B) (XBRL) increase financial vulnerability.
Regulatory/geopolitical risks (tariffs, sanctions) disrupt operations (10-K).
Competitive pressures from rivals and technology disruption threaten market share (10-K).
GENERAL ELECTRIC COの今後の見通し・業績予想
GENERAL ELECTRIC COの事業内容
General Electric's (GE) primary business focuses on aerospace, generating 70% of revenue from aftermarket services (maintenance, repair, and overhaul of jet engines) and 30% from engine sales (10-K). Key segments include Commercial Engines & Services (CES), which provides jet engines for commercial aviation, and Defense & Propulsion Technologies (DPT), which supplies defense engines and avionics (10-K). Competitive advantages include a large installed engine base, the proprietary FLIGHT DECK operating model, and innovation in sustainable technologies like the RISE program (10-K).
GENERAL ELECTRIC COのAI業績分析レポート（2024年度）
Annual Report Analysis: General Electric Co (GE) FY2024
Highlights
Business Overview
GE's aerospace business generates 70% of revenue from aftermarket services (maintenance, repair, and overhaul of jet engines) and 30% from engine sales (10-K). Key segments include Commercial Engines & Services (CES) and Defense & Propulsion Technologies (DPT) (10-K). Competitive advantages include a large installed engine base and the FLIGHT DECK operating model (10-K).
Revenue Analysis
Revenue fell to $7.0B (XBRL), down -40.9% YoY, with a 5-year CAGR of -18.3% (XBRL). Historical data shows a decline from $97.0B in FY2020 to $7.0B in FY2024 (XBRL), though FY2025 revenue jumps to $35.3B (XBRL). Cyclical commercial aviation demand and divestitures (e.g., GE HealthCare in 2022) (10-K) likely contributed to the decline.
Profitability Analysis
Operating income turned negative at -$2.4B (XBRL), with an operating margin of -34.5% (XBRL). Net income improved to $336M (XBRL), a 105.3% YoY increase, but net margin remains low at 4.8% (XBRL). ROE of 1.2% (XBRL) and ROA of 0.2% (XBRL) indicate weak returns on capital.
Balance Sheet Analysis
Equity ratio of 15.8% (XBRL) and D/E ratio of 5.28x (XBRL) highlight significant leverage. Total assets declined from $265.2B in FY2020 to $173.3B in FY2024 (XBRL), while total equity fell from $31.0B to $27.4B (XBRL). Current ratio of 1.33x (XBRL) suggests moderate liquidity, but long-term debt of $19.3B (XBRL) raises financial vulnerability.
Cash Flow Analysis
Operating cash flow of $5.9B (XBRL) supported $8.2B in free cash flow (XBRL). Investing cash flow of $2.3B (XBRL) and financing cash flow of -$5.6B (XBRL) included $639M in dividends (XBRL) and $1.0B in share repurchases (XBRL). Despite strong cash generation, high debt levels ($19.3B) (XBRL) remain a concern.
Working Capital Analysis
N/A
Risks
Outlook
Management guidance is not explicitly detailed in the 10-K. However, divestitures (GE HealthCare in 2022, GE Vernova in 2024) (10-K) and focus on core aerospace and defense segments may shape future performance. The RISE program's sustainable technology initiatives (10-K) could drive long-term growth.
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 97.0B | 18.8B | 16.3B | 11.9B | 7.0B | 35.3B |
| Operating Income | N/A | N/A | N/A | N/A | -2.4B | N/A |
| Net Income | -22.4B | -5.0B | 5.7B | -6.3B | 336M | 9.5B |
| Total Assets | 265.2B | 256.2B | 198.9B | 188.9B | 173.3B | 123.1B |
| Total Equity | 31.0B | 28.3B | 40.3B | 33.7B | 27.4B | 19.3B |
| Operating Cash Flow | 5.0B | 8.7B | 3.6B | 3.5B | 5.9B | 5.2B |
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