GE Aerospace
GE · Aerospace & Defense
$285.64
2.7%L3Harris
LHX · Aerospace & Defense
$253.97
0.1%The short version
- GE Aerospace is the larger business, with $45.9B of revenue in fiscal 2025 against $21.9B for L3Harris, about 2.1 times as much.
- GE Aerospace grew revenue faster (18.5%, against 2.5%).
- GE Aerospace turned more of its sales into free cash flow (15.8% FCF margin, against 12.3% FCF margin).
- GE Aerospace earned a higher return on the capital invested in it (35.8%, against 5.8%).
- Investors pay more for each dollar of GE Aerospace’s earnings: a P/E of 33.0x against 25.6x for L3Harris.
| Latest fiscal year | GE · FY25 | LHX · FY25 |
|---|---|---|
| Size | ||
| Market cap | $297.4B | $47.6B |
| Revenue | $45.9B | $21.9B |
| Free cash flow | $7.3B | $2.7B |
| Net income | $8.7B | $1.6B |
| Growth | ||
| Revenue growth | 18.5% | 2.5% |
| 5-year growth | −9.6% | 3.7% |
| Share count change | −2.4% | −1.2% |
| Profitability | ||
| Gross margin | — | 25.7% |
| Operating margin | — | 9.7% |
| Net margin | 19.0% | 7.4% |
| FCF margin | 15.8% | 12.3% |
| Return on capital | 35.8% | 5.8% |
| Return on equity | 45.8% | 8.2% |
| Balance sheet | ||
| Net debt | $8.1B | $10.0B |
| Net debt / EBITDA | 0.7x | 3.0x |
| Dividends and buybacks | $9.0B | $2.1B |
| Valuation & quality | ||
| P/E | 33.0x | 25.6x |
| Piotroski F-score | 5 | 8 |
FY16
GE $119.5B
LHX $6.0B
FY17
GE $99.3B
LHX $5.9B
FY18
GE $97.0B
LHX $6.2B
FY19
GE $90.2B
LHX $6.8B
FY20
GE $75.8B
LHX $18.2B
FY21
GE $56.5B
LHX $17.8B
FY22
GE $29.1B
LHX $17.1B
FY23
GE $35.3B
LHX $19.4B
FY24
GE $38.7B
LHX $21.3B
FY25
GE $45.9B
LHX $21.9B
GE
LHX
FY16
GE —
LHX 17.6%
FY17
GE —
LHX 18.2%
FY18
GE —
LHX 18.2%
FY19
GE —
LHX 21.3%
FY20
GE —
LHX 11.9%
FY21
GE —
LHX 11.8%
FY22
GE —
LHX 6.6%
FY23
GE —
LHX 7.3%
FY24
GE —
LHX 9.0%
FY25
GE —
LHX 9.7%
GE
LHX
FY16
GE −$6.0B
LHX $772M
FY17
GE −$88.0M
LHX $450M
FY18
GE −$1.6B
LHX $615M
FY19
GE $6.5B
LHX $1.0B
FY20
GE $2.0B
LHX $2.4B
FY21
GE $2.2B
LHX $2.3B
FY22
GE $4.5B
LHX $1.9B
FY23
GE $4.3B
LHX $1.6B
FY24
GE $3.7B
LHX $2.2B
FY25
GE $7.3B
LHX $2.7B
GE
LHX
FY16
GE 6.7%
LHX 9.8%
FY17
GE −3.5%
LHX 11.5%
FY18
GE −9.1%
LHX 13.1%
FY19
GE 3.1%
LHX 18.9%
FY20
GE 11.2%
LHX 10.8%
FY21
GE —
LHX 6.6%
FY22
GE —
LHX 3.7%
FY23
GE 28.3%
LHX 5.0%
FY24
GE 25.2%
LHX 5.8%
FY25
GE 35.8%
LHX 5.8%
GE
LHX
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.