General Electric Company (GE) Valuation Ratios - Annual

Trailing Valuation

Trailing Valuation	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Stock Price	289.3	166.8	101.8	52.2	58.8	53.8	55.6	36.2	83.5	151.2	149.1
Total Shares Outstanding	1,054.8	1,073.7	1,088.4	1,089.1	1,099	1,095.7	1,092.3	1,087.8	1,085.1	1,092.8	1,172.4
Market Cap	305,157.7	179,081.1	110,789.9	56,797	64,611.8	58,915.1	60,688.4	39,410.2	90,614.3	165,257.3	174,771.3
Total Enterprise Value (TEV)	312,695.7	183,976.1	111,606.9	58,659	73,037.8	91,496.1	107,422.4	98,884.2	285,517.3	331,626.3	403,817.3
Dividend Yield	0.4%	0.6%	0.5%	1.1%	0.9%	1.1%	1.1%	11.4%	9.5%	5.2%	5%
Buyback Yield	2.4%	3.3%	1.1%	1.8%	0.2%	0%	—	—	2.8%	13%	0.6%
Debt Paydown Yield	0.4%	0.4%	3%	19.4%	57%	31.9%	22.8%	54.7%	14%	35.3%	32.9%
Shareholder Yield	2.8%	3.7%	4.1%	21.3%	57.2%	31.9%	22.8%	55%	16.9%	48.3%	33.6%
P/S	6.9	4.6	3.1	1.9	1.1	0.8	0.7	0.4	0.9	1.4	1.5
P/Gross Profit	21.4	15	11.6	7.5	5.9	3.8	2.7	1.6	7.9	5.7	5.4
P/E	38.7	27.8	12.2	1,043	-9.8	9.8	-56.7	-1.8	-10.4	22.2	109.6
Earnings Yield	2.6%	3.6%	8.2%	0.1%	-10.2%	10.2%	-1.8%	-54.5%	-9.6%	4.5%	0.9%
P/OCF	39.3	30.8	24	14.1	-76	57.5	6.9	12.3	15.5	22	14.7
P/FCF	45.8	37.4	29.6	16.9	-32.9	-106.3	9.2	-11.5	-113	543.6	38.4
FCF Yield	2.2%	2.7%	3.4%	5.9%	-3%	-0.9%	10.9%	-8.7%	-0.9%	0.2%	2.6%
P/B	16.2	9.3	250.7	1.7	1.6	1.7	2.1	1.3	0.8	1.1	0.9
EV/Sales	7.1	4.8	3.2	2	1.3	1.2	1.2	1	2.9	2.8	3.4
EV/Gross Profit	21.9	15.4	11.7	7.8	6.7	5.9	4.9	4	24.8	11.4	12.6
EV/EBITDA	33	27.5	22.5	16.1	21.4	32.3	15.3	-10.7	-1,842	19.1	24.5
EV/EBIT	37.8	33.5	29.6	23.9	69	-145.9	30.8	-6.3	-45	32.3	34.7
EV/OCF	40.3	31.6	24.2	14.6	-85.9	89.3	12.2	30.8	48.9	44.2	34.1
EV/FCF	47	38.4	29.8	17.4	-37.2	-165.2	16.2	-28.9	-356	1,090.9	88.8

Dividends

Dividends	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Dividend Yield	0.4%	0.6%	0.5%	1.1%	0.9%	1.1%	1.1%	11.4%	9.5%	5.2%	5%
DPS	1.3	0.9	0.5	0.6	0.5	0.6	0.6	4.1	8	7.8	7.5
Payout Ratio	17.1%	15.4%	6.4%	1,331.3%	-8.7%	12.4%	-11.9%	-19.6%	-97%	128.6%	-151.3%

Margins

Margins	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Gross Profit Margin	32.5%	30.9%	26.9%	25.9%	19.3%	20.4%	24.5%	25.6%	11.6%	24.3%	27.3%
Operating Margin	18.8%	14.2%	10.7%	8.4%	1.9%	-0.8%	3.9%	-16.3%	-6.4%	8.6%	9.9%
EBITDA Margin	21.6%	17.3%	14%	12.5%	6.1%	3.7%	7.8%	-9.5%	-0.2%	14.5%	14.1%
Net Profit Margin	18.3%	17.2%	26.7%	4.6%	-8.7%	8.5%	-0.7%	-21.7%	-8.6%	6.8%	1.4%
Effective Tax Rate	14.9%	12.6%	9.5%	11.1%	13.3%	-8.2%	-1,022.2%	-0.4%	24.8%	-16.1%	79.2%
Pre-Tax Profit Margin	21.5%	19.7%	29.5%	5.2%	-10.1%	7.9%	-0.1%	-21.6%	-11.4%	5.9%	7%
Free Cash Flow Margin	15.1%	12.4%	10.6%	11.5%	-3.5%	-0.7%	7.3%	-3.5%	-0.8%	0.3%	3.9%
OCF / Sales	17.7%	15%	13%	13.8%	-1.5%	1.4%	9.8%	3.3%	5.9%	6.3%	10.1%
OCF / Net Income	96.7%	87.4%	48.8%	297.6%	17.2%	15.9%	-1,458.4%	-15.2%	-68.4%	91.9%	697.4%
FCF / OCF	85.7%	82.3%	81.3%	83.6%	230.9%	-54%	74.9%	-106.4%	-13.7%	4.1%	38.4%
FCF / Net Income	82.9%	71.9%	39.7%	248.7%	39.7%	-8.6%	-1,092.7%	16.2%	9.4%	3.7%	267.5%
FCF / EBITDA	70.2%	71.6%	75.6%	92.5%	-57.4%	-19.5%	94.2%	37.1%	517.4%	1.8%	27.6%

Capital Efficiency

Capital Efficiency	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Return on Invested Capital	6.1%	3.6%	2.1%	1.3%	0.5%	-0.3%	16.5%	-3.8%	-0.8%	1.8%	0.2%
Return on Assets	5.6%	3.2%	1.9%	1.1%	0.4%	-0.3%	13.6%	-3.3%	-0.7%	1.6%	0.2%
Return on Equity	41.6%	62.8%	51.7%	3.5%	-12.6%	19.3%	-1.5%	-20.6%	-5.4%	4.5%	0.6%
Return on Total Capital	33.4%	23.3%	14.5%	7.1%	1.6%	-0.8%	35.9%	-8.3%	-2%	4.4%	0.6%
Return on Capital Employed	9.1%	4.8%	2.7%	1.7%	0.6%	-0.3%	1.6%	-4.3%	-1.3%	1.9%	1.4%
Return on Tangible Assets	7%	4.9%	5.7%	0.8%	-2.6%	2.9%	-0.2%	-6%	-1.9%	1.5%	0.2%
Receivables Turnover	4.4	4.3	3	1.9	3.5	3.4	3.2	1.8	1.7	1.5	1.5
Days Sales Outstanding	83	85	121.5	190.7	104.4	106.8	115.6	203.5	212.3	249.3	250.6
Payables Turnover	3.4	3.5	2.3	1.4	2.8	3.6	4.4	2.8	2.4	2.7	2.7
Days Payables Outstanding	106.9	105.3	161.9	267.6	131	102.2	83.5	128.5	150.4	137.7	135.7
Inventory Turnover	2.8	3	2.2	1.4	2.9	3.6	4.4	2.7	2.1	2	2.1
Days Inventory Outstanding	131.7	123.2	163.8	260	127.2	100	83.1	132.9	173.4	180.7	171.9
Cash Conversion Cycle	107.9	102.9	123.3	183.1	100.6	104.6	115.2	207.8	235.3	292.4	286.8
Asset Turnover	0.3	0.3	0.2	0.2	0.2	0.3	0.3	0.2	0.2	0.2	0.1
Fixed Asset Turnover	5.9	5.3	3.6	2.1	3.5	2.4	2	1.6	1.3	1.7	1.4
Operating Cycle	214.8	208.2	285.3	450.7	231.6	206.8	198.7	336.4	385.7	430.1	422.5
CapEx to OCF	0.1	0.2	0.2	0.2	-1.3	1.5	0.3	2.1	1.1	1	0.6
CapEx to Revenue	0	0	0	0	0	0	0	0.1	0.1	0.1	0.1
CapEx to Depreciation	0.9	0.9	0.7	0.6	0.5	0.5	0.6	1	1.1	1	1.5

Financial Health

Financial Health	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Total Debt	20,838	19,273	20,525	24,059	35,185	74,902	90,882	103,600	216,178	215,920	300,703
Net Debt	7,329	4,672	-385	640	7,118	31,053	45,183	38,968	153,389	157,266	219,848
Current Ratio	1.1	1.1	1.3	1.2	1.3	1.6	1.3	1.7	1.2	0.9	1.3
Quick Ratio	0.6	0.7	0.9	0.8	0.8	1.1	0.9	1.5	0.9	0.6	1.1
Cash Ratio	0.4	0.4	0.7	0.5	0.5	0.8	0.6	1	0.4	0.4	0.4
Debt Ratio	0.2	0.2	0.1	0.1	0.2	0.3	0.3	0.3	0.3	0.3	0.4
Assets to Equity	6.7	6.3	105.4	5.4	4.8	6.9	8.9	6	4.2	4	4
Cash Flow to Debt Ratio	0.4	0.3	0.2	0.2	-0	0	0.1	0	0	0	0
Long-term Debt to Assets	0.1	0.1	0.1	0.1	0.2	0.3	0.3	0.3	0.3	0.3	0.3
Intangibles to Total Assets	0.1	0.1	0.1	0.1	0.2	0.1	0.1	0.1	0.3	0.3	0.2
Net Current Asset Value	-69,357	-66,164	-103,341	-96,776	-92,222	-135,813	-133,771	-170,546	-348,258	-347,979	-362,386
Goodwill / Assets	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.3	0.2	0.2
Debt / Equity	1.1	1	12.5	0.7	0.8	2	3	2	1.4	1.3	1.5
Total Debt / Capitalization	1	1	0.9	1	1	1	1	0.8	0.8	1	1
Long Term Debt / Capitalization	0.9	0.9	0.9	0.8	0.8	0.9	0.7	0.7	0.7	0.7	0.7
Long-Term Debt / Equity	1	0.9	11.8	0.6	0.7	1.9	2.3	1.7	1.1	1	1.1
Net Debt / EBITDA	0.8	0.7	-0.1	0.2	2.1	10.9	6.4	-4.2	-989.6	9.1	13.3
EBIT / Interest Expense	10.1	5.6	3.7	1.4	0.1	-0.3	1.1	-3.3	-1.4	2	3.4
EBITDA / Interest Expense	11.6	6.8	4.8	2	0.4	1.2	2.2	-1.9	-0	3.5	4.8
(EBITDA - Capex) / Interest Expense	10.2	5.7	4	1.7	0.3	0.5	1.5	-3.3	-1.5	2	2.7

Per Share	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Revenue per Share	40.9	35.4	32.2	26.5	51.4	69.3	82.7	89.3	91.4	104.7	93.8
Basic EPS	7.5	6	8.4	0.1	-6	5.5	-1	-19.7	-8	6.9	1.4
Diluted EPS	7.5	6	8.4	0.1	-6	5.5	-1	-19.7	-8	6.8	1.4
Book Value per Share	17.5	17.7	0.4	30.6	36.7	32.5	26	28.5	103.2	132.9	157
Tangible Book Value per Share	5.1	6	-12	13.3	4.4	0.3	-8.3	-14	-87.7	-17	26.1
Cash per Share	12.6	13.3	19	21.3	25.6	40	41.9	59.5	57.8	51.4	64.6
Operating Cash Flow per Share	7.2	5.3	4.2	3.7	-0.8	0.9	8.1	3	5.4	6.6	9.5
Free Cash Flow per Share	6.2	4.4	3.4	3.1	-1.8	-0.5	6.1	-3.1	-0.7	0.3	3.6
CapEx per Share	1	0.9	0.8	0.6	1	1.4	2	6.1	6.1	6.3	5.8
Weighted Avg. Shares Outstanding	1,067.5	1,085	1,089	1,096	1,098	1,094	1,091	1,086	1,085.9	1,128.1	1,243
Weighted Avg. Shares Outstanding Diluted	1,074	1,094	1,099	1,101	1,098	1,095	1,091	1,086	1,085.9	1,141.3	1,252

Common Size

Common Size	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15	Mar '15	Dec '14	Dec '13
R&D to Revenue	3.5%	3.3%	2.9%	2.8%	3%	3.4%	3.5%	3.5%	—	—	—
SG&A to Revenue	9.7%	11.5%	11.4%	12.6%	14.5%	16.7%	15.3%	15.1%	14.4%	14.9%	15.2%