GE Aerospace

Revenue visibility is anchored by long‑term service obligations and a services mix near 70% of adjusted revenue, which historically converts strongly to cash.

As of September 30, 2025, remaining performance obligations were ~$176.3 billion, with 70% of services RPO slated to be recognized within 10 years and 87% within 15 years, supporting multi‑year planning. This resembles a tollbooth model where utilization and shop‑visit cadence drive revenue.

Offsets to predictability include civil air‑traffic cycles, OEM build‑rate variability, and supply‑chain constraints. Boeing and Airbus production trajectories, along with quality issues and regulatory pacing, remain the gating factors to near‑term engine deliveries, though services can partially counterbalance such swings.

Overall, the contract structure, installed base, and long recognition runway yield above‑average predictability.