GuruFocus Manual of Stocks™  |  May 20, 2022
General Electric Co (NYSE:GE)
www.gurufocus.com/stock/NYSE:GE
General Electric Co (NYSE:GE)
[1]
Fairly Valued[5]$ 75.74
GF Score: 65/100Market Cap: $ 83,364 Mil
Industry: Industrials - Industrial Products
General Electric Co is a digital industrial company. It operates in various segments, including power and water, oil and gas, energy management, aviation, healthcare, transportation, appliances and lighting, and more.
GF Value Rank
Rank: 6 /10CurrentIndustry MedianHistorical Median
PE RatioLoss19.2418.00
Forward P/E26.3716.48N/A
PB Ratio2.141.832.23
PS Ratio1.131.441.54
P/FCF24.8219.1712.81
Shiller P/E1,16722.4718.10
PEG RatioN/A1.88N/A
Valuation Analysis
Current% of Price
NCAV-81.46-108
Tangible Book4.246
EPV7.179
Price75.74
GF Value76.84101
Median PS Value106.47141
Dividend & Ownership
Dividend Yield (TTM) %0.43
Dividend Yield (Forward) %0.43
Dividend Payout RatioN/A
Dividend Growth (5Y) %-53.90
Yield on Cost (5Y) %0.01
Continuous Div. since2019
Insider Ownership %2.94
Institution Ownership %78.73
Financial Strength
Rank: 5 /10CurrentIndustry MedianHistorical Median
Cash-to-Debt0.701.270.33
Equity-to-Asset0.200.550.14
Interest Coverage1.5217.762.82
Piotroski F-Score555
Profitability Rank
Rank: 5 /10CurrentIndustry MedianHistorical Median
Operating Margin %3.936.839.42
Net Margin %-6.425.380.48
ROE %-13.537.741.22
ROA %-2.144.030.34
ROC (Joel Greenblatt) %-8.8513.326.53
Growth Rank(* per share data)
Rank: 1 /1010-Yr5-Yr1-Yr
Revenue Growth %-3.8-8.50.5
EBITDA Growth %N/AN/A-61.5
Oprt. Income Growth %N/AN/A1,024
EPS w/o NRI Growth %N/AN/AN/A
FCF Growth %N/AN/A948.5
Book Value Growth %-13.4-12.515.8
Momentum Rank
Rank: 5 /10CurrentIndustry MedianHistorical Median
5-Day RSI51.6354.57N/A
9-Day RSI42.8948.99N/A
14-Day RSI39.2946.64N/A
6-1M Momentum %-8.06-10.64N/A
12-1M Momentum %-12.24-2.35N/A
Quarterly
Mar21Jun21Sep21Dec21Mar22
Revenue17,07118,28018,42920,37017,039
Net Income-2,802-1,1311,257-3,843-1,042
EPS-2.62-1.121.08-3.55-0.99
Revenue YoY %-12.418.78-0.54-3.05-0.19
Net Income YoY %-145.20-43.08-209.88-245.79-62.81
EPS YoY %-146.79-46.15-199.08-264.35-62.21
Warning Signs
SEVEREAltman Z-Score: Distress
SEVERERevenue per Share: Declined
Good Signs
GOODBeneish M-Score: Unlikely manipulator
GOODDividend Yield %: Close to 1-year high
Insider Trades
InsiderPositionDateTradesCur. Shares
Reynolds Paula RosputDirector05/06/2212006,100
Culp H Lawrence JrChairman and CE05/02/22650001.96M
Strazik ScottSenior Vice Pre05/02/22373730,455
Slattery John S.Senior Vice Pre05/02/2236013,601
Seidman LeslieDirector11/22/2110001,813
Reynolds Paula RosputDirector11/12/2110513,900
As of 05-20-2022
* All financial numbers are in millions except for per share data, ratios and percentage change.
%GainSP500
1W3.36-0.73
1M-17.58-12.49
3M-18.20-10.03
6M-24.07-16.39
YTD-19.74-17.75
1Y-27.37-3.96
3Y-1.3912.66
5Y-17.0812.26
10Y-2.0113.75
253.23
104.66
43.92
21M
10.7M
2012201320142015201620172018201920202021CurrentPerformance
177.79215.55211.48240.54253.23243.77146.2692.64105.28114.80116.17Highest Stock Price
139.57160.72184.18178.95211.09133.5051.6061.9043.9283.7671.14Lowest Stock Price
209,950271,079244,302280,844265,562145,60763,32397,52194,668103,82583,364Market Cap
1,3211,2861,2651,2521,1411,0861,0861,0911,0951,0981,101Shares Outstanding-Diluted
15.6421.2216.19At Loss40.50At LossAt LossAt Loss18.66At LossAt LossPE Ratio
1.712.081.912.863.502.602.043.442.662.582.14PB Ratio
1.482.522.112.602.321.470.651.081.251.401.13PS Ratio
12.9130.7422.7922.9116.26-434.83-12.7422.4910.0795.7677.18EV-to-EBITDA
2012201320142015201620172018201920202021TTMPer Share Data
109.1485.6491.9991.98104.6891.4389.3082.7069.2667.5767.32Revenue per Share
10.3210.1612.00-4.966.00-8.24-20.96-4.994.63-6.16-4.58Earnings per Share
12.2816.9216.269.43-5.95-0.50-1.815.721.681.803.05Free Cash Flow per Share
5.606.327.127.367.446.722.960.320.320.320.32Dividends per Share
29.1630.7049.1312.75-10.11-44.44-13.95-8.310.324.404.24Tangible Book per Share
208.30141.50157.61152.81174.61148.87153.33128.83107.92106.55106.47Median PS Value
85.1163.9591.1819.75--------6.28----Graham Number
2012201320142015201620172018201920202021TTMIncome Statement
144,121110,137116,406115,158119,46899,27997,01290,22175,83474,19674,118Revenue
69,81130,29632,70232,46531,81623,68627,60925,36917,96320,30020,307Gross Profit
48.4427.5128.0928.1926.6323.8628.4628.1223.6927.3627.40Gross Margin %
1,26914,83816,07015,60417,63826,42520,84820,21817,55416,48717,396Total Operating Expense
68,54215,45816,63216,86114,178-2,7396,7615,151409.003,8132,911Operating Income
47.5614.0414.2914.6411.87-2.766.975.710.545.143.93Operating Margin %
13,64113,05715,233-6,1267,500-8,484-22,355-4,9795,704-6,520-4,759Net Income
9.4611.8613.09-5.326.28-8.55-23.04-5.527.52-8.79-6.42Net Margin %
29,78811,97012,98611,64912,055-6,690-16,2212,8739,485-1,807-2,531EBIT
38,98017,17217,93916,49619,125-496.00-9,6396,41412,9491,2021,210EBITDA
11.3810.2811.76-5.427.86-13.53-52.41-18.3416.38-17.81-13.53ROE %
1.941.952.32-1.071.75-2.31-6.57-1.732.19-2.87-2.14ROA %
2012201320142015201620172018201920202021Mar22Balance Sheet
77,26888,55570,02570,48348,12943,29931,12435,81136,53015,77012,842Cash & Equivalents
684,999656,560654,954493,071365,183369,245311,072265,177256,211198,874191,961Total Assets
155,299140,29871,19750,77831,03524,65512,77423,6424,7134,3614,985Short-Term Debt & CLO
258,500242,742190,227146,824105,178109,93390,82467,24273,38333,67128,649Long-Term Debt & CLO
556,529519,777518,121392,933287,692295,747259,591235,316219,137157,262151,678Total Liabilities
123,026130,566128,15998,27475,82856,03030,98128,31635,55240,31039,005Total Stockholders Equity
128,470136,783136,833100,13877,49173,49851,48129,86137,07441,61240,283Total Equity
2012201320142015201620172018201920202021TTMCashflow Statement
31,33128,51027,70919,8911,1606,5544,9788,7343,5683,3324,735Cash Flow from Operations
11,30229,117-5,03459,48849,1355,37918,2808,97716,67121,30820,662Cash Flow from Investing
-51,074-45,575-16,956-76,054-90,464-18,484-31,806-16,133-19,852-45,177-45,031Cash Flow from Financing
-7,16311,2572,227-139.00-41,315-5,660-9,1761,528532.00-20,750-19,791Net Change in Cash
77,26879,17370,02570,48348,78336,82335,54836,30336,98516,12313,636Ending Cash Position
-15,119-6,754-7,134-8,087-7,948-7,096-6,947-2,498-1,730-1,361-1,368Capital Expenditure
16,21221,75620,57511,804-6,788-542.00-1,9696,2361,8381,9713,367Free Cash Flow
Competitor
TickerCompanyMarket Cap
($M)
PE RatioGF Score
/100
Financial
Strength /10
Profitability
Rank /10
GF Value
Rank /10
Growth
Rank /10
Momentum
Rank /10
XTER:SIESiemens AG96,27317.786956924
NYSE:GEGeneral Electric Co83,364At Loss6555615
XKRX:373220LG Energy Solution Ltd76,441104.851841000
XPAR:SUSchneider Electric SE73,57022.028778678
NYSE:ITWIllinois Tool Works Inc62,53823.588368765
GuruFocus Manual of Stocks™  |  May 20, 2022
General Electric Co (NYSE:GE)
www.gurufocus.com/stock/NYSE:GE

Financial Strength[2] (Quarterly data, as of Mar. 2022) : Fair (5/10)

0
1
2
3
4
5
6
7
8
9

Cash-to-Debt : 0.70

Cash-to-Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. A high ratio indicates that a company is better able to pay back its debt, and is thus able to take on more debt if necessary.


Equity-to-Asset : 0.20

Equity-to-Asset ratio is calculated as total stockholders equity divided by its total assets. Equity-to-Asset ratio can vary greatly across different industries, as they have different capital structure. A company with smaller Equity-to-Asset ratio (more leveraged) may have higher ROE % because of the leverage.


Debt-to-Equity : 0.86

A high Debt-to-Equity ratio generally means that a company has been aggressive in financing its growth with debt.


Piotroski F-Score : 5

The Piotroski F-Score is used to determine the strength of a firm's financial position, with 9 being the best and 0 being the worst.

0
1
2
3
4
5
6
7
8
9


WACC : 6.35% vs ROIC : 1.68%

The weighted average cost of capital (WACC) is the rate that a company is expected to pay on average to all its security holders to finance its assets. Return on invested capital (ROIC) measures how well a company generates cash flow relative to the capital it has invested in its business.


Dividend Yield : 0.35%

Dividend yield is a way to measure how much cash flow you are getting for each dollar invested in an equity position.

GuruFocus Manual of Stocks™  |  May 20, 2022
General Electric Co (NYSE:GE)
www.gurufocus.com/stock/NYSE:GE

Profitability[3] (Annual data, as of Dec. 2021) : Fair (5/10)

0
1
2
3
4
5
6
7
8
9

Revenue : $17,039 Mil vs Net Income : $-1,042 Mil

Revenue is the amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. Net Income is a company's total profit. Net income is calculated by taking revenues and adjusting for the cost of doing business, depreciation, interest, taxes and other expenses.


Cash & Equivalents : $12,842 Mil vs Long-Term Debt* : $28,649 Mil

Cash & equivalents are the most liquid assets on the balance sheet. Cash equivalents are assets that are readily convertible into cash. Long-Term Debt* consists of loans and obligations lasting over one year.


Operating Margin % : -1.93%

Operating margin % measures how much profit a company makes on a dollar of sales. Operating Margin % is calculated as Operating Income divided by Revenue.


EPS without NRI : $-0.74

Earnings Per Share without Non-Recurring Items is the amount of earnings without non-recurring items per outstanding share of the company's stock. In calculating earnings per share without non-recurring items, the dividends of preferred stocks and Non Operating Income need to subtracted from the total net income first.


Dividends per Share : $0.08

Dividends per Share is the amount of dividends that the shareholders of a company receive on a per-share basis. It is calculated using the total dividends paid out to shareholders over one fiscal year and the number of shares outstanding.


Free Cash Flow per Share : $-0.84

Free Cash flow per Share is the amount of Free cash flow per outstanding share of the company's stock.

GuruFocus Manual of Stocks™  |  May 20, 2022
General Electric Co (NYSE:GE)
www.gurufocus.com/stock/NYSE:GE

Valuation (Quarterly data, as of Mar. 2022)

These valuation metrics should give you a sense of reasonable prices, but be careful with them. Always seek to understand why a valuation is changing over time.


Valuation Chart (Current stock price : $75.74)


PE Ratio without NRI : At Loss

The price-to-earnings ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than regular PE Ratio.


PB Ratio : 2.58

The price-to-book ratio measures the valuation of the stock relative to the underlying asset of the company.


PS Ratio : 1.36

The price-to-sales ratio is a valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the value placed on each dollar of a company’s sales or revenues.


Price-to-Free-Cash-Flow : 29.99

Price-to-free-cash-flow is very similar to the valuation metric of price-to-operating-cash-flow but is considered a more exact measure, owing to the fact that it uses free cash flow, which subtracts capital expenditures from a company's total operating cash flow, thereby reflecting the actual cash flow available to fund non-asset-related growth.


EV-to-EBIT : -44.25

Enterprise value of a company divided by its trailing 12 months earnings before interest and taxes (EBIT).

GuruFocus Manual of Stocks™  |  May 20, 2022
General Electric Co (NYSE:GE)
www.gurufocus.com/stock/NYSE:GE

Valuation Bands

In these charts the 10-year valuation bands of the price-to-earnings ratio (PE Ratio), price-to-book ratio (PB Ratio), price-to-sales ratio (PS Ratio) and price-to-operating-cash-flow ratio (POCF) are drawn together with the historical stock prices. For example, the upper line of the PE band is where the stock price would have been if it were always traded at the maximum PE ratio of the past 10 years. The lower line of the PE band is where the stock price would have been if it were always traded at the lowest PE ratio of the past 10 years. It is always better if the stock price is close to the lower line, which indicates a lower valuation.


Historical Price and PE Band


Historical Price and PS Band


Historical Price and PB Band


Historical Price and Price-to-Operating-Cash-Flow (POCF) Band

GuruFocus Manual of Stocks™  |  May 20, 2022
General Electric Co (NYSE:GE)
www.gurufocus.com/stock/NYSE:GE

Warning Signs

GuruFocus conducted a thorough checkup using a checklist of 32 items that cover the areas of financial strength, profitability, growth, and valuation of each company. The purpose of Warning Signs is to warn you that the company may have red flags in certain areas, helping to avoid overlooking them. These warning signs do not necessarily mean you should not invest in the stock. But you should be aware of them before you invest.


Severe Warning Signs

Altman Z-Score : Distress

Altman Z-score of 1.35 is in distress zone. This implies bankrupcy possibility in the next two years.

Revenue per Share : Declined

General Electric Co revenue per share has been in decline for the last 5 years.

Good Signs

Beneish M-Score : Unlikely manipulator

Beneish M-Score -2.56 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

Dividend Yield % : Close to 1-year high

General Electric Co stock dividend yield is close to 1-year high.

PB Ratio : Close to 1-year low

General Electric Co stock PB Ratio (=2.14) is close to 1-year low of 2.1

PS Ratio : Close to 1-year low

General Electric Co stock PS Ratio (=1.13) is close to 1-year low of 1.11

Insider Buy : Insider Buying

There were 4 insider buying transaction over the past 3 months. The total number of shares bought is 73,538.

Medium Warning Signs

ROIC vs. WACC : Return on invested capital is less than weighted average cost of capital.

Companys's return on invested capital is less than weighted average cost of capital. It might not be capital efficient
GuruFocus Manual of Stocks™  |  May 20, 2022
General Electric Co (NYSE:GE)
www.gurufocus.com/stock/NYSE:GE

Competitive Comparison


5 Year Price Change Comparison


Financial Strength

CompanyFinancial StrengthCash-to-DebtEquity-to-AssetDebt-to-EquityInterest CoveragePiotroski F-ScoreAltman Z-ScoreBeneish M-ScoreWACC %ROIC %
OSTO:ATCO AAtlas Copco AB7/100.870.500.38101.4975.57-2.488.5022.72
XPAR:SUSchneider Electric SE7/100.270.450.4036.2672.46-2.294.219.23
NYSE:EMREmerson Electric Co6/100.600.361.0918.3574.14-2.6010.3613.78
NYSE:ITWIllinois Tool Works Inc6/100.170.222.1917.5166.94-2.187.7324.12
NYSE:ROPRoper Technologies Inc6/100.430.530.557.3563.27-2.317.345.44
NYSE:ETNEaton Corp PLC5/100.050.470.6018.2462.92-2.336.105.92
NYSE:GEGeneral Electric Co5/100.700.200.861.5251.35-2.566.351.68
TSE:6594Nidec Corp5/100.350.470.4736.6483.90-2.256.378.53
XTER:SIESiemens AG5/100.350.321.149.6861.75-2.433.594.17
XKRX:373220LG Energy Solution Ltd4/100.180.340.8815.06N/A0.000.000.004.16

Profitability

CompanyProfitability RankOperating
Margin %
Net Margin %ROE %ROA %Price-to-Free-Cash-FlowROC (Joel Greenblatt) %3-Year Revenue Growth %3-Year EBITDA Growth %3-Year EPS w/o NRI Growth %
OSTO:ATCO AAtlas Copco AB9/1021.1816.7230.0014.4828.85100.125.004.603.40
TSE:6594Nidec Corp9/109.737.5312.526.00159.5918.183.20-0.90-1.90
NYSE:ROPRoper Technologies Inc9/1027.3147.3624.7311.9423.651375.622.906.300.70
NYSE:EMREmerson Electric Co8/1016.9915.1629.1811.0721.3674.433.405.603.40
NYSE:ITWIllinois Tool Works Inc8/1023.3518.0876.7516.9732.1888.391.400.703.80
XPAR:SUSchneider Electric SE8/1017.1911.0814.406.1325.80103.903.7010.6010.50
NYSE:ETNEaton Corp PLC7/1012.7311.2113.976.3639.8152.19-0.406.302.80
XTER:SIESiemens AG6/109.617.7511.863.7310.8951.72-8.50-3.00-2.90
NYSE:GEGeneral Electric Co5/103.93-6.42-13.53-2.1424.82-8.85-8.900.0045.20
XKRX:373220LG Energy Solution Ltd1/104.304.4410.133.510.007.460.000.000.00

Valuation

CompanyPE RatioPB RatioPS RatioPrice-to-Intrinsic-Value-Projected-FCFPrice-to-Intrinsic-Value-DCF (Earnings Based)Price-to-Median-PS-ValuePrice-to-Peter-Lynch-Fair-ValuePrice-to-Graham-NumberEarnings Yield (Joel Greenblatt) %Forward Rate of Return (Yacktman) %
NYSE:GEGeneral Electric CoAt Loss2.141.133.790.000.710.000.00-2.711.64
NYSE:ROPRoper Technologies Inc15.293.247.231.612.331.274.320.003.2213.31
NYSE:EMREmerson Electric Co17.434.682.641.440.001.092.3412.516.9812.03
XTER:SIESiemens AG17.782.001.380.920.001.210.004.396.743.99
XPAR:SUSchneider Electric SE22.022.852.441.570.001.582.900.005.6011.28
NYSE:ITWIllinois Tool Works Inc23.5817.474.272.551.381.310.000.005.104.66
NYSE:ETNEaton Corp PLC24.623.272.771.630.001.730.000.004.882.62
OSTO:ATCO AAtlas Copco AB26.371.704.412.301.951.570.002.535.146.29
TSE:6594Nidec Corp34.283.962.592.991.480.990.003.293.523.92
XKRX:373220LG Energy Solution Ltd104.8512.204.650.000.000.000.008.870.820.00
GuruFocus Manual of Stocks™  |  May 20, 2022
General Electric Co (NYSE:GE)
www.gurufocus.com/stock/NYSE:GE

Peter Lynch Chart[4]

GuruFocus Manual of Stocks™  |  May 20, 2022
General Electric Co (NYSE:GE)
www.gurufocus.com/stock/NYSE:GE

Per Share Data


Per Share Data

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
117
135
144
117
111
107
109
85.64
91.99
91.98
105
91.43
89.30
82.70
69.26
67.57
67.32
Revenue per Share
38.96
48.20
45.17
29.33
29.60
32.82
29.52
13.35
14.18
13.18
16.76
-0.46
-8.87
5.88
11.83
1.10
1.09
EBITDA per Share
32.46
40.16
36.07
21.33
22.27
26.05
22.56
9.31
10.26
9.30
10.56
-6.16
-14.93
2.63
8.66
-1.65
-2.30
EBIT per Share
16.00
17.36
13.76
8.08
8.48
9.84
10.32
10.16
12.00
-4.96
6.00
-8.24
-20.96
-4.99
4.63
-6.16
-4.58
Earnings per Share (Diluted)
14.88
17.60
14.24
8.00
9.20
9.84
11.04
5.92
7.52
1.36
6.80
-8.00
-19.76
-0.98
5.46
-3.25
-4.00
EPS without NRI
12.25
22.04
12.02
7.47
8.23
7.70
5.74
4.69
5.98
-5.83
8.26
-13.65
-20.79
-5.50
4.34
-7.00
-4.81
Owner Earnings per Share (TTM)
12.06
19.98
25.86
11.90
19.72
15.61
12.28
16.92
16.26
9.43
-5.95
-0.50
-1.81
5.72
1.68
1.80
3.05
Free Cash Flow per Share
24.21
33.92
38.55
18.40
27.06
25.13
23.73
22.17
21.90
15.89
1.02
6.04
4.58
8.01
3.26
3.04
4.30
Operating Cash Flow per Share
48.19
48.87
67.90
91.40
92.61
99.78
96.70
105
83.94
87.39
84.59
75.57
59.42
41.84
40.02
25.54
21.46
Cash per Share
8.24
9.20
9.92
4.88
3.68
4.88
5.60
6.32
7.12
7.36
7.44
6.72
2.96
0.32
0.32
0.32
0.32
Dividends per Share
86.80
92.56
79.29
88.00
89.63
88.10
94.58
104
102
83.82
69.38
51.63
28.48
25.92
32.44
36.67
35.43
Book Value per Share
21.17
14.66
6.01
30.36
33.59
24.02
29.16
30.70
49.13
12.75
-10.11
-44.44
-13.95
-8.31
0.32
4.40
4.24
Tangible Book per Share
337
412
369
353
361
343
318
305
208
169
125
124
95.24
83.20
71.28
34.61
30.56
Total Debt per Share
286
285
125
116
141
138
161
216
194
240
243
134
58.21
89.28
86.40
94.47
75.74
Month End Stock Price

Ratios

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
18.78
19.56
15.74
9.66
9.59
11.13
11.38
10.28
11.76
-5.42
7.86
-13.53
-52.41
-18.34
16.38
-17.81
-13.53
ROE %
5.69
6.35
10.03
7.32
6.11
7.13
6.65
4.94
6.16
-1.90
2.25
-5.20
-25.69
-5.33
6.16
-6.90
-6.35
ROE % Adjusted to Book Value
3.03
2.98
2.19
1.40
1.52
1.93
1.94
1.95
2.32
-1.07
1.75
-2.31
-6.57
-1.73
2.19
-2.87
-2.14
ROA %
75.54
97.63
132
44.32
26.63
34.32
39.10
34.07
30.31
-15.99
351
--
--
--
Neg. E
-260
-252
Return-on-Tangible-Equity
3.45
3.39
2.49
1.57
1.69
2.17
2.21
2.24
2.64
-1.23
2.18
-3.12
-8.44
-2.02
2.54
-3.39
-2.54
Return-on-Tangible-Asset
11.38
12.09
10.20
7.09
7.92
9.44
8.90
3.75
6.79
16.82
17.92
-10.47
-30.58
6.27
29.30
-11.19
-8.85
ROC (Joel Greenblatt) %
8.91
9.97
8.06
4.88
5.32
6.78
6.15
2.50
2.56
2.51
3.60
-2.34
-6.03
1.32
4.89
-1.04
-1.52
ROCE %
5.95
6.66
6.21
4.81
10.54
8.58
10.77
2.62
2.89
0.72
5.06
-0.79
2.74
26.57
0.22
2.07
1.68
ROIC %
6.02
5.86
5.60
5.88
6.16
5.87
5.01
4.51
4.42
4.75
6.08
5.49
4.02
5.61
5.82
6.08
6.35
WACC %
4.70
5.02
5.15
3.83
3.28
3.09
2.86
0.72
0.85
1.51
3.01
3.44
4.00
3.01
4.16
3.23
3.55
Effective Interest Rate on Debt %
55.95
57.61
53.87
51.11
51.68
51.74
48.44
27.51
28.09
28.19
26.63
23.86
28.46
28.12
23.69
27.36
27.40
Gross Margin %
28.39
29.74
25.07
18.23
46.91
48.96
47.56
14.04
14.29
14.64
11.87
-2.76
6.97
5.71
0.54
5.14
3.93
Operating Margin %
13.68
12.88
9.59
7.10
7.85
10.00
9.46
11.86
13.09
-5.32
6.28
-8.55
-23.04
-5.52
7.52
-8.79
-6.42
Net Margin %
33.40
35.69
31.40
25.07
26.62
30.79
27.05
15.59
15.41
14.32
16.01
-0.50
-9.94
7.11
17.08
1.62
1.63
EBITDA Margin %
10.34
14.79
17.98
10.16
17.74
14.65
11.25
19.75
17.68
10.25
-5.68
-0.55
-2.03
6.91
2.42
2.66
4.54
FCF Margin %
3.88
4.45
4.65
4.01
4.02
3.89
3.36
2.93
2.04
2.01
1.80
2.40
3.34
3.21
2.20
0.94
0.86
Debt-to-Equity
0.16
0.15
0.13
0.15
0.16
0.16
0.18
0.20
0.20
0.20
0.21
0.15
0.10
0.11
0.14
0.20
0.20
Equity-to-Asset
0.62
0.65
0.61
0.60
0.64
0.63
0.60
0.58
0.40
0.40
0.37
0.36
0.33
0.34
0.31
0.19
0.18
Debt-to-Asset
0.83
0.85
0.86
0.84
0.83
0.84
0.81
0.79
0.79
0.80
0.79
0.80
0.84
0.89
0.86
0.79
0.79
Liabilities-to-Assets
12.38
13.32
12.28
10.05
10.03
9.99
9.95
4.52
4.99
5.66
7.41
6.45
8.12
8.80
6.89
8.92
9.14
Gross-Profit-to-Asset %
0.22
0.23
0.23
0.20
0.19
0.19
0.21
0.16
0.18
0.20
0.28
0.27
0.29
0.31
0.29
0.33
0.33
Asset Turnover
0.55
0.52
0.70
0.61
0.40
0.50
0.51
1.07
0.95
5.41
1.09
--
--
--
0.06
--
-- Dividend Payout Ratio
813
818
819
881
835
822
751
924
494
141
135
153
132
116
122
108
106
Days Sales Outstanding
114
105
91.84
96.98
86.99
83.01
78.72
73.43
62.22
56.82
58.54
71.48
76.25
87.75
107
111
110
Days Payable
56.05
57.22
57.89
61.68
59.84
67.67
71.63
74.74
76.34
88.73
93.42
101
87.36
87.29
104
107
112
Days Inventory
755
771
785
846
808
807
744
925
509
173
169
182
143
115
120
105
108
Cash Conversion Cycle
6.51
6.38
6.31
5.92
6.10
5.39
5.10
4.88
4.78
4.11
3.91
3.62
4.18
4.18
3.50
3.40
3.25
Inventory Turnover
0.44
0.42
0.46
0.49
0.48
0.48
0.52
0.72
0.72
0.72
0.73
0.76
0.72
0.72
0.76
0.73
0.73
COGS-to-Revenue
0.07
0.07
0.07
0.08
0.08
0.09
0.10
0.15
0.15
0.18
0.19
0.21
0.17
0.17
0.22
0.21
0.22
Inventory-to-Revenue
0.10
0.10
0.09
0.06
0.07
0.09
0.11
0.06
0.06
0.07
0.07
0.07
0.07
0.03
0.02
0.02
0.02
Capex-to-Revenue
0.37
0.35
0.35
0.31
0.14
0.18
0.22
0.44
0.43
0.48
0.56
--
1.03
0.49
4.23
0.36
0.47
Capex-to-Operating-Income
0.50
0.41
0.33
0.35
0.27
0.38
0.48
0.24
0.26
0.41
6.85
1.08
1.40
0.29
0.49
0.41
0.29
Capex-to-Operating-Cash-Flow
* All financial numbers are in millions except for per share data, ratios and percentage change. When Return-on-Tangible-Equity displays Neg. E, it means the the tangible equity is negative.
GuruFocus Manual of Stocks™  |  May 20, 2022
General Electric Co (NYSE:GE)
www.gurufocus.com/stock/NYSE:GE

Financial Statement

Income Statement

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
151,568
172,488
181,581
155,278
148,416
141,479
144,121
110,137
116,406
115,158
119,468
99,279
97,012
90,221
75,834
74,196
74,118
Revenue
66,773
73,125
83,772
75,921
71,713
68,278
74,310
79,841
83,704
82,693
87,652
75,593
69,403
64,852
57,871
53,896
53,811
Cost of Goods Sold
84,795
99,363
97,809
79,357
76,703
73,201
69,811
30,296
32,702
32,465
31,816
23,686
27,609
25,369
17,963
20,300
20,307
Gross Profit
55.95
57.61
53.87
51.11
51.68
51.74
48.44
27.51
28.09
28.19
26.63
23.86
28.46
28.12
23.69
27.36
27.40
Gross Margin %
38,704
43,642
45,048
40,426
41,116
--
--
17,945
16,848
17,831
17,638
26,425
17,433
17,100
14,989
13,990
14,700
Selling, General, & Admin. Expense
--
--
--
--
--
--
--
--
--
--
--
--
3,415
3,118
2,565
2,497
2,577
Research & Development
3,062
4,431
7,233
10,627
-34,031
3,930
1,269
-3,107
-778
-2,227
--
--
--
--
--
--
119
Other Operating Expense
41,766
48,073
52,281
51,053
7,085
3,930
1,269
14,838
16,070
15,604
17,638
26,425
20,848
20,218
17,554
16,487
17,396
Total Operating Expense
43,029
51,290
45,528
28,304
69,618
69,271
68,542
15,458
16,632
16,861
14,178
-2,739
6,761
5,151
409
3,813
2,911
Operating Income
28.39
29.74
25.07
18.23
46.91
48.96
47.56
14.04
14.29
14.64
11.87
-2.76
6.97
5.71
0.54
5.14
3.93
Operating Margin %
--
--
--
--
--
--
--
--
--
--
263
358
562
1,507
--
2,270
1,831
  Interest Income
-18,879
-23,762
-25,758
-18,309
-15,537
-14,422
-12,407
-2,870
-2,723
-3,463
-5,024
-4,655
-4,766
-2,927
-3,515
-1,876
-1,914
  Interest Expense
-18,879
-23,762
-25,758
-18,309
-15,537
-14,422
-12,407
-2,870
-2,723
-3,463
-4,761
-4,297
-4,204
-1,420
-3,515
394
-83.00
Net Interest Income
-862
--
--
--
-39,894
-34,690
-38,754
-3,488
-3,646
-5,212
-2,386
-4,309
-23,544
-3,785
9,076
-7,890
-7,273
Other Income (Expense)
23,288
27,528
19,770
9,995
14,187
20,159
17,381
9,100
10,263
8,186
7,031
-11,345
-20,987
-54.00
5,970
-3,683
-4,445
Pre-Tax Income
-3,944
-4,155
-1,102
1,148
-1,039
-5,745
-2,534
-1,219
-773
-6,485
1,133
2,808
-93.00
-552
487
286
223
Tax Provision
16.94
15.09
5.57
-11.49
7.32
28.50
14.58
13.40
7.53
79.22
-16.11
24.75
-0.44
-1,022
-8.16
7.77
5.02
Tax Rate %
19,344
23,373
18,668
11,143
13,148
14,414
14,847
7,881
9,490
1,700
8,165
-8,536
-21,080
-606
6,457
-3,396
-4,221
Net Income (Continuing Operations)
1,398
-249
-617
82.00
-969
29.00
-983
5,475
5,855
-7,495
-954
-312
-1,363
-4,306
-911
-3,195
-587
Net Income (Discontinued Operations)
--
-916
-641
-200
-535
-292
-223
-298
-112
-332
289
365
89.00
-66.00
158
71.00
47.00
  Other Income (Minority Interest)
20,742
22,208
17,410
11,025
11,644
14,151
13,641
13,057
15,233
-6,126
7,500
-8,484
-22,355
-4,979
5,704
-6,520
-4,759
Net Income
13.68
12.88
9.59
7.10
7.85
10.00
9.46
11.86
13.09
-5.32
6.28
-8.55
-23.04
-5.52
7.52
-8.79
-6.42
Net Margin %
--
--
75.00
300
300
1,031
--
--
--
18.00
656
436
447
460
474
237
218
Preferred Dividends
16.00
17.44
13.76
8.08
8.48
9.92
10.32
10.24
12.08
-4.96
6.08
-8.24
-20.96
-4.99
4.63
-6.16
-4.57
EPS (Basic)
16.00
17.36
13.76
8.08
8.48
9.84
10.32
10.16
12.00
-4.96
6.00
-8.24
-20.96
-4.99
4.63
-6.16
-4.58
EPS (Diluted)
1,299
1,277
1,262
1,327
1,335
1,328
1,321
1,286
1,265
1,252
1,141
1,086
1,086
1,091
1,095
1,098
1,101
Shares Outstanding (Diluted Average)
42,167
51,290
45,528
28,304
29,724
34,581
29,788
11,970
12,986
11,649
12,055
-6,690
-16,221
2,873
9,485
-1,807
-2,531
EBIT
8,457
10,275
11,481
10,619
9,786
8,986
9,192
5,202
4,953
4,847
7,070
6,194
6,582
3,541
3,464
3,009
3,741
Depreciation, Depletion and Amortization
50,624
61,565
57,009
38,923
39,510
43,567
38,980
17,172
17,939
16,496
19,125
-496
-9,639
6,414
12,949
1,202
1,210
EBITDA
33.40
35.69
31.40
25.07
26.62
30.79
27.05
15.59
15.41
14.32
16.01
-0.50
-9.94
7.11
17.08
1.62
1.63
EBITDA Margin %
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  May 20, 2022
General Electric Co (NYSE:GE)
www.gurufocus.com/stock/NYSE:GE

Financial Statement

Cashflow Statement

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
19,344
23,373
18,668
11,143
11,644
14,151
13,641
13,057
15,233
-6,126
7,211
-8,849
-22,443
-4,912
5,546
-6,591
-4,807
Net Income From Continuing Operations
8,457
10,275
11,481
10,619
9,786
8,986
9,192
5,202
4,953
4,847
7,070
6,194
6,582
3,541
3,464
3,009
3,741
Depreciation, Depletion and Amortization
-2,194
-868
-24.00
3,273
-60.00
-670
-879
-485
-1,913
-52.00
1,460
-3,902
393
-1,960
312
854
-364
  Change In Receivables
-1,514
-1,562
-719
1,101
342
-1,168
-1,274
-1,368
-872
-314
-815
324
-573
-1,581
1,105
-702
-970
  Change In Inventory
-276
-997
-1,063
-439
-360
58.00
-1,357
2,334
50.00
-1,537
2,953
2,081
666
2,679
-582
-2.00
422
  Change In Payables And Accrued Expense
642
9,980
2,827
-500
--
--
--
--
--
--
-2,617
-1,243
-563
1,476
-247
-1,052
-381
  Change In Other Working Capital
-3,342
6,553
1,021
3,435
-78.00
-1,780
-3,510
481
-2,735
-1,903
981
-2,740
-77.00
614
588
-902
-1,293
Change In Working Capital
1,639
657
-1,282
-2,793
930
-204
-1,152
-3,540
-882
383
-1,133
-2,808
93.00
552
-487
-286
-224
Deferred Tax
--
--
--
--
--
--
--
--
--
--
--
2,550
22,136
1,486
877
--
-- Asset Impairment Charge
-1,057
3,380
959
19.00
-133
1,248
316
14,112
11,676
8,034
-6,343
714
1,768
-104
2,543
2,444
1,743
Cash from Discontinued Operating Activities
6,414
-916
17,806
1,994
13,975
10,958
12,844
-802
-536
14,656
-6,626
11,493
-3,081
7,557
-8,963
5,658
5,575
Cash Flow from Others
31,455
43,322
48,653
24,417
36,124
33,359
31,331
28,510
27,709
19,891
1,160
6,554
4,978
8,734
3,568
3,332
4,735
Cash Flow from Operations
-15,788
-17,803
-16,010
-8,634
-9,800
-12,637
-15,119
-6,754
-7,134
-7,309
-7,199
-6,642
-6,627
-2,216
-1,579
-1,250
-1,258
Purchase Of Property, Plant, Equipment
6,795
8,457
10,954
6,478
7,208
5,867
6,184
2,716
2,923
3,020
4,424
5,530
4,093
379
203
167
163
Sale Of Property, Plant, Equipment
-11,573
-17,215
-28,110
-7,842
-1,212
-11,202
-1,456
-8,026
-2,091
-12,027
-2,271
-2,722
-1.00
-68.00
-85.00
-1,550
-27.00
Purchase Of Business
12,892
2,746
4,986
9,978
3,062
8,877
3,618
18,517
630
2,283
5,357
3,208
8,425
4,507
20,979
4,146
4,712
Sale Of Business
--
--
--
--
--
--
--
--
--
-778
-749
-454
-320
-282
-151
-111
-110
Net Intangibles Purchase And Sale
-1,774
-3,116
-1,036
1,551
1,158
7,665
-61.00
-14,514
-24,031
77,490
46,459
115
-616
2,644
-2,626
19,959
20,617
Cash From Discontinued Investing Activities
-43,199
-42,573
-5,552
40,847
32,020
21,312
18,136
37,178
24,669
-3,191
3,114
6,344
13,326
4,013
-70.00
-53.00
-3,435
Cash From Other Investing Activities
-52,647
-69,504
-34,768
42,378
32,436
19,882
11,302
29,117
-5,034
59,488
49,135
5,379
18,280
8,977
16,671
21,308
20,662
Cash Flow from Investing
--
--
12,006
623
--
--
--
--
2,842
--
--
--
--
--
--
--
-- Issuance of Stock
-8,554
-12,319
-1,249
--
-1,263
-1,456
-4,164
-9,278
-1,218
-1,099
-21,429
-2,550
-17.00
29.00
--
--
-- Repurchase of Stock
--
--
2,965
--
--
-3,300
3,960
990
--
--
--
--
--
--
--
--
-- Net Issuance of Preferred Stock
93,333
100,836
137,247
82,838
52,246
56,450
65,469
38,356
14,629
13,951
1,492
12,578
3,120
2,465
15,028
364
97.00
  Issuance of Debt
--
-49,874
-117,504
-114,915
-101,161
-85,706
-106,173
-67,672
-44,819
-71,497
-59,903
-25,220
-24,662
-16,307
-33,800
-37,231
-36,667
  Payments of Debt
93,333
50,962
19,743
-32,077
-48,915
-29,256
-40,704
-29,316
-30,190
-57,546
-58,411
-12,642
-21,542
-13,842
-18,772
-36,867
-36,570
Net Issuance of Debt
-10,420
-11,492
-12,408
-8,986
-4,790
-6,458
-7,189
-7,821
-8,852
-9,295
-8,806
-8,650
-4,474
-649
-648
-575
-567
Cash Flow for Dividends
-50,692
786
-1,921
-3,073
-6,618
-6,393
-2,977
-150
20,462
-8,114
-1,818
5,358
-5,773
-1,671
-432
-7,735
-7,894
Other Financing
23,667
27,937
19,136
-43,513
-61,586
-46,863
-51,074
-45,575
-16,956
-76,054
-90,464
-18,484
-31,806
-16,133
-19,852
-45,177
-45,031
Cash Flow from Financing
11,801
14,276
16,031
48,367
72,302
78,903
84,431
67,916
67,798
70,622
90,098
42,483
44,724
34,775
36,453
36,873
33,427
Beginning Cash Position
--
--
-685
795
-333
-841
1,278
-795
-3,492
-3,464
-1,146
891
-628
-50.00
145
-213
-157
  Effect of Exchange Rate Changes
2,475
1,755
32,336
24,077
6,641
5,537
-7,163
11,257
2,227
-139
-41,315
-5,660
-9,176
1,528
532
-20,750
-19,791
Net Change in Cash
14,276
16,031
48,367
72,444
78,943
84,440
77,268
79,173
70,025
70,483
48,783
36,823
35,548
36,303
36,985
16,123
13,636
Ending Cash Position
-15,788
-17,803
-16,010
-8,634
-9,800
-12,637
-15,119
-6,754
-7,134
-8,087
-7,948
-7,096
-6,947
-2,498
-1,730
-1,361
-1,368
Capital Expenditure
15,667
25,519
32,643
15,783
26,324
20,722
16,212
21,756
20,575
11,804
-6,788
-542
-1,969
6,236
1,838
1,971
3,367
Free Cash Flow
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  May 20, 2022
General Electric Co (NYSE:GE)
www.gurufocus.com/stock/NYSE:GE

Financial Satement

Balance Sheet

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
14,099
15,731
48,187
70,488
78,943
84,501
77,268
88,555
70,025
70,483
48,129
43,299
31,124
35,811
36,530
15,770
12,842
  Cash And Cash Equivalents
47,806
45,276
41,446
51,343
43,938
47,374
48,510
43,981
35,505
31,973
44,313
38,696
33,508
9,888
7,319
12,297
10,779
  Marketable Securities
61,905
61,007
89,633
121,831
122,881
131,875
125,778
132,536
105,530
102,456
92,442
81,995
64,632
45,699
43,849
28,067
23,621
Cash, Cash Equivalents, Marketable Securities
358,256
414,896
400,018
349,761
329,204
307,957
285,004
272,442
42,943
45,857
42,263
40,846
29,487
27,670
22,992
20,927
20,296
  Accounts Receivable
358,256
414,896
400,018
349,761
329,204
307,957
285,004
272,442
42,943
45,857
42,263
40,846
29,487
27,670
22,992
20,927
20,296
Total Receivables
5,870
7,893
8,710
7,581
6,973
8,735
9,295
9,760
9,963
13,415
12,636
10,131
8,057
8,771
7,937
8,710
9,155
  Inventories, Raw Materials & Components
-564
-623
-706
-529
-404
-450
-398
-273
-62.00
207
383
--
--
--
--
--
--   Inventories, Inventories Adjustments
4,726
5,627
5,670
4,935
4,501
5,022
6,099
7,229
7,032
8,265
8,798
8,847
5,746
5,333
5,654
4,927
5,307
  Inventories, Finished Goods
--
--
--
--
456
485
378
609
756
628
537
441
--
3,111
2,299
2,210
2,108
  Inventories, Other
10,032
12,897
13,674
11,987
11,526
13,792
15,374
17,325
17,689
22,515
22,354
19,419
13,803
17,215
15,890
15,847
16,570
Total Inventories
--
--
--
--
36,887
711
211
50.00
2,826
2,818
1,745
4,832
1,629
12,511
2,121
1,508
2,812
Other Current Assets
430,193
488,800
503,325
483,579
500,498
454,335
426,367
422,353
168,988
173,646
158,804
147,092
109,551
103,095
84,852
66,349
63,299
Total Current Assets
--
--
--
72,142
--
--
--
--
--
--
--
--
--
38,632
48,932
50,049
39,845
Investments And Advances
5,550
6,749
7,814
562
--
--
--
--
--
--
--
1,175
700
596
592
576
--   Land And Improvements
7,448
7,700
7,354
7,569
--
--
--
--
--
--
--
11,657
8,608
3,904
3,841
3,728
--   Buildings And Improvements
89,742
96,749
57,166
20,714
--
--
--
--
--
--
--
73,716
64,574
34,483
7,968
7,356
--   Machinery, Furniture, Equipment
1,932
3,031
3,363
--
--
--
--
--
--
--
--
--
--
--
--
--
--   Construction In Progress
4,699
5,082
49,974
84,064
66,212
65,739
68,633
68,827
48,070
54,095
50,518
3,178
1,918
6,897
4,299
3,949
33,971
  Other Gross PPE
109,371
119,311
125,671
112,909
66,212
65,739
68,633
68,827
48,070
54,095
50,518
89,726
75,800
45,880
16,700
15,609
33,971
Gross Property, Plant and Equipment
-38,721
-41,423
-47,141
-43,939
--
--
--
--
--
--
--
-35,852
-32,190
--
--
--
-18,935
  Accumulated Depreciation
70,650
77,888
78,530
68,970
66,212
65,739
68,633
68,827
48,070
54,095
50,518
53,874
43,610
45,880
16,700
15,609
15,036
Property, Plant and Equipment
84,314
97,258
96,736
76,827
74,359
84,693
85,094
91,958
66,389
83,325
86,875
104,241
46,151
37,386
35,194
35,464
34,337
Intangible Assets
71,399
81,116
81,759
65,076
64,388
72,625
73,114
77,648
53,207
65,526
70,438
83,968
33,974
26,734
25,524
26,182
26,047
  Goodwill
111,526
131,737
119,178
80,383
106,724
113,422
104,905
73,422
371,507
182,005
68,986
64,038
111,760
40,184
70,533
31,403
39,444
Other Long Term Assets
266,490
306,883
294,444
298,322
247,295
263,854
258,632
234,207
485,966
319,425
206,379
222,153
201,521
162,082
171,359
132,525
128,662
Total Long-Term Assets
696,683
795,683
797,769
781,901
747,793
718,189
684,999
656,560
654,954
493,071
365,183
369,245
311,072
265,177
256,211
198,874
191,961
Total Assets
20,632
21,338
20,819
19,527
14,656
16,400
15,654
16,471
12,067
13,680
14,435
15,172
13,826
17,357
16,458
16,243
16,206
  Accounts Payable
--
--
--
--
--
--
--
--
--
--
--
--
--
--
463
500
--   Total Tax Payable
2,878
3,100
3,340
1,141
1,563
1,797
1,980
2,220
2,317
2,167
2,107
1,052
--
--
--
--
--   Other Current Payables
4,597
9,885
--
12,192
11,142
11,349
10,877
13,125
12,537
15,776
16,760
22,117
18,983
18,389
19,164
17,648
16,206
  Current Accrued Expense
28,107
34,323
24,159
32,860
27,361
29,546
28,511
31,816
26,921
31,623
33,302
38,341
32,809
35,746
36,085
34,391
32,412
Accounts Payable & Accrued Expense
172,013
195,100
164,061
132,293
155,257
191,440
155,299
140,298
71,197
50,778
31,035
24,655
12,774
23,642
4,713
4,361
4,985
  Short-Term Debt
172,013
195,100
164,061
132,293
155,257
191,440
155,299
140,298
71,197
50,778
31,035
24,655
12,774
23,642
4,713
4,361
4,985
Short-Term Debt & Capital Lease Obligation
17,944
15,816
30,756
36,429
27,443
15,141
15,052
13,387
15,264
24,458
18,220
18,167
15,574
19,479
13,817
13,200
15,948
Other Current Liabilities
218,064
245,239
218,976
201,582
210,061
236,127
198,862
185,501
113,382
106,859
82,557
81,163
61,157
78,867
54,615
51,952
53,345
Total Current Liabilities
260,752
319,013
322,847
337,631
323,341
262,003
258,500
242,742
190,227
146,824
105,178
109,933
90,824
67,242
70,188
30,823
28,649
  Long-Term Debt
--
--
--
--
--
--
--
--
--
--
--
--
--
--
3,195
2,848
--   Long-Term Capital Lease Obligation
260,752
319,013
322,847
337,631
323,341
262,003
258,500
242,742
190,227
146,824
105,178
109,933
90,824
67,242
73,383
33,671
28,649
Long-Term Debt & Capital Lease Obligation
3.88
4.45
4.65
4.01
4.02
3.89
3.36
2.93
2.04
2.01
1.80
2.40
3.34
3.21
2.20
0.94
0.86
Debt-to-Equity
--
--
--
--
--
--
--
--
42,238
40,487
43,780
41,630
31,928
31,687
29,677
21,202
20,636
PensionAndRetirementBenefit
14,110
12,490
4,584
2,081
2,753
-131
--
--
--
--
--
--
--
1,555
1,801
1,989
1,953
NonCurrent Deferred Liabilities
84,755
95,378
137,750
115,471
87,440
102,056
99,167
91,534
172,274
98,763
56,177
63,021
75,682
55,965
59,661
48,448
47,095
Other Long-Term Liabilities
359,617
426,881
465,181
455,183
413,534
363,928
357,667
334,276
404,739
286,074
205,135
214,584
198,434
156,449
164,522
105,310
98,333
Total Long-Term Liabilities
577,681
672,120
684,157
656,765
623,595
600,055
556,529
519,777
518,121
392,933
287,692
295,747
259,591
235,316
219,137
157,262
151,678
Total Liabilities
669
669
702
702
702
702
702
702
702
702
702
702
702
702
702
15.00
15.00
Common Stock
--
--
--
--
--
--
--
--
--
6.00
6.00
6.00
6.00
6.00
6.00
6.00
6.00
Preferred Stock
106,993
117,362
122,123
126,363
131,137
137,786
144,055
149,051
155,333
140,020
139,532
117,245
93,109
87,732
92,247
85,110
83,927
Retained Earnings
1,646
8,200
-21,853
-15,265
-17,855
-23,974
-20,230
-9,120
-18,173
-16,529
-18,599
-14,403
-14,414
-11,732
-9,749
1,582
1,341
Accumulated other comprehensive income (loss)
25,486
26,100
40,390
37,729
--
--
--
--
--
--
--
--
--
--
--
--
-- Additional Paid-In Capital
-24,893
-36,896
-36,697
-32,238
-31,938
-31,769
-34,571
-42,561
-42,593
-63,539
-83,038
-84,902
-83,925
-82,797
-81,961
-81,093
-80,673
Treasury Stock
1,608
124
--
--
36,890
33,693
33,070
32,494
32,890
37,614
37,225
37,382
35,503
34,405
34,307
34,690
34,389
Other Stockholders Equity
111,509
115,559
104,665
117,291
118,936
116,438
123,026
130,566
128,159
98,274
75,828
56,030
30,981
28,316
35,552
40,310
39,005
Total Stockholders Equity
7,493
8,004
8,947
7,845
5,262
1,696
5,444
6,217
8,674
1,864
1,663
17,468
20,500
1,545
1,522
1,302
1,278
Minority Interest
119,002
123,563
113,612
125,136
124,198
118,134
128,470
136,783
136,833
100,138
77,491
73,498
51,481
29,861
37,074
41,612
40,283
Total Equity
0.16
0.15
0.13
0.15
0.16
0.16
0.18
0.20
0.20
0.20
0.21
0.15
0.10
0.11
0.14
0.20
0.20
Equity-to-Asset
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  May 20, 2022
General Electric Co (NYSE:GE)
www.gurufocus.com/stock/NYSE:GE

Valuation Ratios

Valuation Ratios

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
17.88
16.42
9.05
14.40
16.59
14.00
15.64
21.22
16.19
At Loss
40.50
At Loss
At Loss
At Loss
18.66
At Loss
At Loss PE Ratio
19.23
16.20
8.75
14.54
15.29
14.00
14.62
36.41
25.84
176
35.74
At Loss
At Loss
At Loss
15.82
At Loss
At Loss PE Ratio without NRI
23.35
12.93
10.36
15.58
17.09
17.89
28.12
45.93
32.49
--
29.44
--
--
--
19.93
--
-- Price-to-Owner-Earnings
3.30
3.08
1.57
1.32
1.57
1.56
1.71
2.08
1.91
2.86
3.50
2.60
2.04
3.44
2.66
2.58
2.14
PB Ratio
13.52
19.45
20.74
3.83
4.19
5.73
5.53
7.02
3.96
18.79
--
--
--
--
269
21.45
17.88
Price-to-Tangible-Book
23.73
14.27
4.82
9.78
7.13
8.82
13.15
12.74
11.95
25.41
--
--
--
15.62
51.46
52.63
24.82
Price-to-Free-Cash-Flow
11.82
8.40
3.23
6.32
5.20
5.48
6.80
9.72
8.87
15.08
239
22.23
12.70
11.15
26.52
31.13
17.63
Price-to-Operating-Cash-Flow
2.45
2.11
0.87
0.99
1.26
1.29
1.48
2.52
2.11
2.60
2.32
1.47
0.65
1.08
1.25
1.40
1.13
PS Ratio
3.80
1.40
0.62
3.15
--
--
--
--
--
--
--
--
--
--
--
--
-- PEG Ratio
4.92
4.74
3.14
3.29
3.69
3.57
3.49
4.79
3.51
3.28
2.60
2.17
1.27
1.60
1.72
1.55
1.26
EV-to-Revenue
14.74
13.27
10.01
13.13
13.86
11.60
12.91
30.74
22.79
22.91
16.26
-435
-12.74
22.49
10.07
95.76
77.18
EV-to-EBITDA
17.69
15.93
12.53
18.05
18.42
14.61
16.90
44.09
31.49
32.44
25.80
-32.24
-7.57
50.21
13.75
-63.70
-36.90
EV-to-EBIT
5.65
6.28
7.98
5.54
5.43
6.84
5.92
2.27
3.18
3.08
3.88
-3.10
-13.21
1.99
7.27
-1.57
-2.71
Earnings Yield (Joel Greenblatt) %
10.31
17.22
28.88
19.73
7.34
3.87
0.52
-0.47
-8.48
-16.14
-11.82
-18.86
--
--
--
--
1.64
Forward Rate of Return (Yacktman) %
23.63
21.14
8.98
8.34
10.26
10.06
11.94
16.22
14.98
21.63
24.01
17.71
14.44
33.73
40.31
214
1,167
Shiller PE Ratio
2.77
3.10
7.65
4.03
2.52
3.41
3.33
2.82
3.52
2.95
2.94
4.81
4.89
0.36
0.37
0.34
0.43
Dividend Yield %

Valuation and Quality

Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
TTM Fiscal Period
367,602
355,894
164,449
155,081
186,631
182,025
209,950
271,079
244,302
280,844
265,562
145,607
63,323
97,521
94,668
103,825
83,364
Market Cap
745,955
817,004
570,671
511,019
547,610
505,289
503,415
527,800
408,870
377,860
311,002
215,674
122,795
144,257
130,443
115,098
93,383
Enterprise Value
286
285
125
116
141
138
161
216
194
240
243
134
58.21
89.28
86.40
94.47
75.74
Month End Stock Price
-407
-496
-457
-407
-381
-356
-335
-313
-335
-249
-180
-213
-198
-175
-161
-119
-118
Net Cash per Share
-121
-153
-144
-136
-96.73
-112
-104
-82.41
-285
-189
-119
-153
-157
-122
-124
-83.91
-81.46
Net Current Asset Value
-194
-242
-225
-206
-191
-176
-165
-144
-302
-210
-141
-176
-171
-148
-138
-97.25
-96.15
Net-Net Working Capital
212
257
297
261
238
232
240
246
246
231
180
142
99.68
86.61
58.03
26.97
19.96
Intrinsic Value: Projected FCF
325
364
371
290
259
225
208
142
158
153
175
149
153
129
108
107
106
Median PS Value
77.32
203
202
--
--
--
--
--
--
--
--
--
--
--
--
--
-- Peter Lynch Fair Value
84.19
76.19
43.87
73.92
83.39
72.92
85.11
63.95
91.18
19.75
--
--
--
--
6.28
--
-- Graham Number
-71.38
-110
-23.84
37.66
101
173
214
-57.87
-34.09
-77.80
-109
-211
-7.89
-12.74
-10.94
5.86
7.17
Earnings Power Value (EPV)
1.39
1.32
1.20
1.12
1.22
1.17
1.27
1.29
0.97
1.30
1.78
1.16
0.92
1.20
1.35
1.43
1.35
Altman Z-Score
7.00
8.00
5.00
4.00
6.00
7.00
7.00
6.00
8.00
5.00
5.00
4.00
5.00
6.00
4.00
5.00
5.00
Piotroski F-Score
-2.52
-2.49
-2.67
-2.62
-2.78
-2.54
-2.18
-2.25
-2.33
-2.84
-2.48
-2.61
-2.74
-2.72
-2.55
-2.63
-2.56
Beneish M-Score
0.73
0.83
0.64
0.59
0.61
0.59
0.58
0.57
0.45
0.30
0.25
0.35
0.25
0.24
0.27
0.20
0.25
Scaled Net Operating Assets
6.02
6.08
0.44
-7.13
-7.61
-5.44
-4.23
-6.79
-1.14
-17.34
-11.72
-5.53
-14.66
-8.56
-5.67
-15.67
-15.71
Sloan Ratio %
1.97
1.99
2.30
2.40
2.38
1.92
2.14
2.28
1.49
1.63
1.92
1.81
1.79
1.31
1.55
1.28
1.19
Current Ratio
1.93
1.94
2.24
2.34
2.33
1.87
2.07
2.18
1.33
1.41
1.65
1.57
1.57
1.09
1.26
0.97
0.88
Quick Ratio
0.28
0.25
0.41
0.60
0.58
0.56
0.63
0.71
0.93
0.96
1.12
1.01
1.06
0.58
0.80
0.54
0.44
Cash Ratio
2.28
2.16
1.77
1.55
4.48
4.80
5.52
5.39
6.11
4.87
2.82
--
1.42
1.76
0.12
2.03
1.52
Interest Coverage
293
324
296
131
150
165
178
216
211
241
253
244
146
92.64
105
115
116
Highest Stock Price
247
262
98.74
51.22
107
113
140
161
184
179
211
133
51.60
61.90
43.92
83.76
71.14
Lowest Stock Price
1.40
2.82
-5.74
-0.97
0.45
0.40
1.58
3.31
0.03
6.74
6.79
0.71
-0.25
-0.42
-0.31
-0.30
-0.30
Shares Buyback Ratio %
2.33
3.46
-6.54
-0.40
0.68
0.80
1.98
3.42
-0.66
0.39
8.07
1.75
0.03
-0.03
--
--
-- Buyback Yield %
13.29
15.76
6.52
-18.65
-4.98
-4.15
2.41
-21.54
7.42
-0.02
13.81
-12.66
-2.33
-7.39
-16.25
-2.43
0.54
YoY Rev. per Sh. Growth
27.39
8.50
-20.74
-41.28
4.95
16.04
4.88
-1.55
18.11
-141
221
-237
-154
76.19
193
-233
-26.17
YoY EPS Growth
17.91
23.71
-6.30
-35.05
0.91
10.87
-10.06
-54.77
6.18
-7.06
27.19
-103
-1,842
166
101
-90.74
-61.45
YoY EBITDA Growth
5.06
11.54
14.16
4.61
-5.20
-9.44
-10.40
-8.27
-16.94
-22.55
-16.12
--
--
--
--
--
-- 5-Year EBITDA Growth Rate
1,295
1,273
1,260
1,327
1,333
1,324
1,315
1,278
1,256
1,243
1,128
1,086
1,086
1,091
1,094
1,098
1,101
Shares Outstanding (Basic Average)
1,285
1,248
1,320
1,333
1,327
1,322
1,301
1,258
1,257
1,172
1,093
1,085
1,088
1,092
1,096
1,099
1,101
Shares Outstanding (EOP)
0.56
0.58
1.00
1.65
1.69
1.92
1.40
1.18
1.26
1.21
1.21
0.90
0.32
1.24
1.11
1.20
0.92
Beta
02/27/07
02/20/08
02/18/09
02/19/10
02/25/11
02/24/12
02/26/13
02/27/14
02/27/15
02/26/16
02/24/17
02/23/18
02/26/19
02/24/20
02/12/21
02/11/22
  Filing Date
02/18/09
02/19/10
02/25/11
02/25/11
02/26/13
02/27/14
02/27/15
02/26/16
02/24/17
02/23/18
02/26/19
02/24/20
02/12/21
02/11/22
02/11/22
02/11/22
  Restated Filing Date
01/21/11
01/20/12
01/18/13
01/17/14
01/23/15
01/22/16
01/20/17
01/24/18
01/31/19
01/29/20
01/26/21
01/25/22
  Earnings Release Date
--
607,000
605,000
598,000
578,000
561,000
523,000
500,000
480,000
458,000
440,000
418,000
397,000
379,000
365,000
--
-- Number of Shareholders
319,000
327,000
323,000
304,000
287,000
301,000
305,000
307,000
305,000
333,000
295,000
313,000
283,000
205,000
174,000
168,000
168,000
Number of Employees
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  May 20, 2022
General Electric Co (NYSE:GE)
www.gurufocus.com/stock/NYSE:GE

Explanation

1. Predictability Rank

GuruFocus Predictability Rank is a proprietary ranking of the consistency of a business. We rank the predictability of companies based on the consistency of their revenue per share and EBITDA (earnings before interest, tax, depreciation and amortization) per share over the past 10 fiscal years. Our study found that there is a strong correlation between the stock performance and the predictability of a business. Over the long term, companies with higher predictability also have better stock performance.

The rank is from 1-star to 5-star, with 5-star as the best.

2. Financial Strength

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:

  1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
  2. Debt to revenue ratio. The lower, the better.
  3. Altman Z-Score.

The rank is from 1 to 10, with 10 as the highest.

A Financial Strength rank of 8 or above indicates good financial strength; between 4-7 indicates fair financial strength; 3 or below means poor financial strength.

3. Profitability Rank

GuruFocus Profitability Rank indicates how profitable a company is and how likely it is that the company's business will stay that way. It is based on these factors:

  1. Operating Margin %.
  2. Piotroski F-Score.
  3. Trend of the Operating Margin percentage (five-year average). A company with an uptrend in profit margin will have a higher rank.
  4. Consistency of the profitability.
  5. Predictability Rank.

The rank is from 1 to 10, with 10 as the highest.

A Profitability Rank of 8 or above indicates good profitability; between 4-7 indicates fair profitability; 3 or below means poor profitability.

4. Peter Lynch Chart

In Peter Lynch's excellent book, "One Up on Wall Street," he used many charts to illustrate the valuation of stocks. “A quick way to tell if a stock is overpriced is to compare the price line to the earnings line. If you bought familiar growth companies – such as Shoney’s, The Limited, or Marriott – when the stock price fell well below the earnings line, and sold them when the stock price rose dramatically above it, the chances are you’d do pretty well.”

The original Peter Lynch Chart does have limitations due to the right side price scale is pre-set at 15 times the earnings scale on the left side. When the stock price and earnings line coincide, the price-to-earnings ratio is always 15 times. Instead of using the fixed PE Ratio of 15, our approach is using 15-year historical median PE without NRI Ratio for each stock.

The Peter Lynch Chart with earnings line at median PE without NRI ratio works well for the companies with steady growth and earnings trends, or the stalwarts, as coined by Lynch. These companies tend to be found in sectors such as consumer staples, healthcare, and utilities, where the consumption of the product or service is relatively independent of economic conditions. It does not work well with the sectors that are cyclical: industrials, chemicals, durable goods, and so forth.

5. GF Value

Based on the relationship between the current stock price and the GF Value, GuruFocus provides the following 6 evaluations:

  1. Possible Value Trap, Think Twice
  2. Significantly Overvalued
  3. Modestly Overvalued
  4. Fairly Valued
  5. Modestly Undervalued
  6. Significantly Undervalued
There is only a sufficient margin of safety when the stock is undervalued.

Disclaimer

GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.