GE Aerospace vs RTX
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The short version
- RTX is the larger business, with $88.6B of revenue in fiscal 2025 against $45.9B for GE Aerospace, about 1.9 times as much.
- GE Aerospace grew revenue faster (18.5%, against 9.7%).
- GE Aerospace turned more of its sales into free cash flow (15.8% FCF margin, against 9.0%).
- GE Aerospace earned a higher return on the capital invested in it (35.8%, against 7.8%).
- Investors pay more for each dollar of GE Aerospace’s earnings: a P/E of 33.0x against 31.0x for RTX.
| Latest fiscal year | GE · FY25 | RTX · FY25 |
|---|---|---|
| Size | ||
| Market cap | $297.4B | $261.3B |
| Revenue | $45.9B | $88.6B |
| Free cash flow | $7.3B | $7.9B |
| Net income | $8.7B | $6.7B |
| Growth | ||
| Revenue growth | 18.5% | 9.7% |
| 5-year growth | −9.6% | 9.4% |
| Share count change | −2.4% | 1.0% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | 10.5% |
| Net margin | 19.0% | 7.6% |
| FCF margin | 15.8% | 9.0% |
| Return on capital | 35.8% | 7.8% |
| Return on equity | 45.8% | 10.7% |
| Balance sheet | ||
| Net debt | $8.1B | $29.7B |
| Net debt / EBITDA | 0.7x | 2.2x |
| Dividends and buybacks | $9.0B | $3.6B |
| Valuation & quality | ||
| P/E | 33.0x | 31.0x |
| Piotroski F-score | 5 | 7 |
Revenue
FY16
GE $119.5B
RTX $57.2B
FY17
GE $99.3B
RTX $59.8B
FY18
GE $97.0B
RTX $34.7B
FY19
GE $90.2B
RTX $45.3B
FY20
GE $75.8B
RTX $56.6B
FY21
GE $56.5B
RTX $64.4B
FY22
GE $29.1B
RTX $67.1B
FY23
GE $35.3B
RTX $68.9B
FY24
GE $38.7B
RTX $80.7B
FY25
GE $45.9B
RTX $88.6B
GE
RTX
Operating margin
FY16
GE —
RTX 14.4%
FY17
GE —
RTX 13.6%
FY18
GE —
RTX 8.3%
FY19
GE —
RTX 10.8%
FY20
GE —
RTX −3.3%
FY21
GE —
RTX 8.0%
FY22
GE —
RTX 8.2%
FY23
GE —
RTX 5.2%
FY24
GE —
RTX 8.1%
FY25
GE —
RTX 10.5%
GE
RTX
Free cash flow
FY16
GE −$6.0B
RTX $4.7B
FY17
GE −$88.0M
RTX $3.6B
FY18
GE −$1.6B
RTX $1.2B
FY19
GE $6.5B
RTX $4.0B
FY20
GE $2.0B
RTX $2.5B
FY21
GE $2.2B
RTX $5.0B
FY22
GE $4.5B
RTX $4.9B
FY23
GE $4.3B
RTX $5.5B
FY24
GE $3.7B
RTX $4.5B
FY25
GE $7.3B
RTX $7.9B
GE
RTX
Return on capital
FY16
GE 6.7%
RTX 14.2%
FY17
GE −3.5%
RTX 10.8%
FY18
GE −9.1%
RTX 2.4%
FY19
GE 3.1%
RTX 5.4%
FY20
GE 11.2%
RTX −1.7%
FY21
GE —
RTX 4.3%
FY22
GE —
RTX 4.9%
FY23
GE 28.3%
RTX 3.2%
FY24
GE 25.2%
RTX 5.4%
FY25
GE 35.8%
RTX 7.8%
GE
RTX
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.