General Electric
GE · NYSEElectronic & Other Electrical Equipment (No Computer Equip) · Fiscal year ends Dec 31
General Electric reported revenue of $45.9B in the fiscal year ended Dec 2025, up 18.5% from the year before. Net income was $8.7B. Operating cash flow of $8.5B less capital expenditure of $1.3B left free cash flow of $7.3B. Net debt was $9.8B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $56.5B | $29.1B | $35.3B | $38.7B | $45.9B |
| Research & development | $1.7B | $808M | $1B | $1.3B | $1.6B |
| Selling, general & admin | $8.2B | $3.7B | $4B | $4.4B | $4.1B |
| Pre-tax income | −$5.7B | $1.5B | $10.4B | $7.6B | $10B |
| Income tax | −$757M | $169M | $994M | $962M | $1.4B |
| Net income | −$6.3B | $336M | $9.5B | $6.6B | $8.7B |
| Diluted EPS | −6.00 | 0.05 | 8.36 | 5.99 | 8.14 |
| Diluted shares | 1,098M | 1,101M | 1,099M | 1,094M | 1,068M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $15.8B | $15.8B | $15.2B | $13.6B | $12.4B |
| Receivables | $15.6B | $14.8B | $8.7B | $9.3B | $11.8B |
| Inventory | $15.8B | $14.9B | $8.3B | $9.8B | $11.9B |
| Current assets | $66.3B | $58.4B | $42.6B | $37.6B | $40.6B |
| Goodwill | $13.3B | $8.8B | $8.9B | $8.5B | $9.1B |
| Total assets | $199B | $189B | $173B | $123B | $130B |
| Payables | – | – | $7.5B | $7.9B | $10.1B |
| Deferred revenue | $17.4B | $16.2B | $8.3B | $9.4B | $10.3B |
| Current liabilities | $52B | $49.4B | $32.1B | $34.4B | $39B |
| Short-term debt | $4.4B | $3.7B | $1.1B | $2B | $1.7B |
| Long-term debt | $30.8B | $20.3B | $20.9B | $19.3B | $20.5B |
| Total liabilities | $157B | $154B | $145B | $104B | $111B |
| Shareholders' equity | $40.3B | $33.7B | $27.4B | $19.3B | $18.7B |
| Backlog (remaining obligations) | $240B | $251B | $267B | $172B | $191B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $3.5B | $5.9B | $5.2B | $4.7B | $8.5B |
| Capital expenditure | $1.3B | $1.4B | $862M | $1B | $1.3B |
| Free cash flow | $2.2B | $4.5B | $4.3B | $3.7B | $7.3B |
| Depreciation & amortisation | $1.6B | $846M | $797M | $834M | $863M |
| Stock-based compensation | $305M | $143M | $192M | $286M | $325M |
| Acquisitions | $69M | $30M | $41M | $135M | $360M |
| Share buybacks | $107M | $1B | $1.2B | $5.8B | $7.6B |
| Dividend per share | 0.32 | 0.32 | 0.32 | 1.12 | 1.44 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −48.4% | 21.3% | 9.5% | 18.5% |
| EPS growth (YoY) | – | – | 16620.0% | −28.3% | 35.9% |
| Net margin | −11.2% | 1.2% | 26.8% | 16.9% | 19.0% |
| Return on equityBlank when equity is negative | −15.7% | 1.0% | 34.6% | 33.9% | 46.6% |
| Free cash flow margin | 4.0% | 15.6% | 12.2% | 9.5% | 15.8% |
| Cash conversion (CFO ÷ net income) | −0.55x | 17.6x | 0.55x | 0.72x | 0.98x |
| Receivable days | 101 | 186 | 90 | 88 | 94 |
| Debt ÷ equity | 0.87x | 0.71x | 0.80x | 1.10x | 1.19x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $19.4B | $8.2B | $6.8B | $7.7B | $9.8B |
| Current ratio | 1.28x | 1.18x | 1.33x | 1.09x | 1.04x |
Recent filings
More in Electronic & Other Electrical Equipment (No Computer Equip)
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.