<p><img src="https://imageproxy.pbkrs.com/https://ik.imagekit.io/invezz/uploads/2020/04/112207180_s-740x416.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ik.imagekit.io/invezz/uploads/2020/04/112207180_s-740x416.jpg"/></p>
<p>通用电气（NYSE: GE）股价今年表现强劲，随着劳伦斯·卡普尔的转型继续进行。今年股价上涨超过 47%，表现优于备受关注的 Vanguard 工业指数基金（VIS），后者今年上涨近 17%。</p>
<h2>需求持续飙升</h2>
<p>GE 航空航天是全球最大的飞机发动机公司，市值超过 2000 亿美元。</p>
<p>这是一家领先的公司，专门生产窄体和宽体飞机以及国防行业的发动机。</p>
<p>该公司还生产民用、航空电子和软件行业中使用的其他系统。</p>
<p>在成为独立公司后，该公司今年表现不俗。在此之前，它与 GE Healthcare 和 GE Vernova（其电力业务）分开，目前分别价值超过 410 亿美元和 690 亿美元。</p>
<p>GE 航空表现强劲，与劳斯莱斯等其他飞机发动机制造商的表现相似，后者今年股价飙升超过 80%。赛峰股价上涨超过 35%，而洛克希德·马丁和 RTX 等行业其他公司的股价也创下历史新高。</p>
<p>航空公司继续向巴西航空工业公司、空客和波音等公司大量订购。</p>
<p>巴西航空工业公司的订单积压已增至超过 210 亿美元，而波音和空客的订单积压分别为 5400 架和 8600 架。</p>
<p>这些数字庞大，这一趋势可能在未来几年持续。此外，随着中产阶级的扩大，预计未来几年航空旅客数量将继续增长。</p>
<p>通用电气相对于劳斯莱斯的优势在于，它生产窄体和宽体发动机，而劳斯莱斯只生产后者。</p>
<p>GE 航空航天还受益于导致国防开支激增的持续地缘政治问题。这一点值得注意，因为 GE 是军用飞机使用的发动机的主要供应商。</p>
<h2>通用电气表现良好</h2>
<p>最近的财务结果显示，GE 航空航天第二季度营收增长 4%，达到 82 亿美元以上。其营业利润增至 19 亿美元以上，自由现金流超过 11 亿美元。</p>
<p>这一营收增长得益于其商用业务。其商用部门的营收从去年同期的 57 亿美元增至 61 亿美元。此外，其营业利润跃升至 17 亿美元。</p>
<p>与行业其他公司一样，通用电气通过销售发动机、零部件和定期维护赚钱。其服务收入增长 14%。</p>
<p>国防与推进技术部门保持稳定，为 24 亿美元，而其订单簿下降了 25%，至 23 亿美元。</p>
<p>GE 航空航天相信，今年其业务将继续表现良好。预计全年营业利润将在 65 亿美元至 68 亿美元之间。此外，预计其自由现金流将从 2023 年的 47 亿美元增至 53 亿美元至 56 亿美元之间。</p>
<p>另一方面，分析师预计，今年其年度营收将达到 352 亿美元，明年将达到 399.5 亿美元。</p>
<h2>通用电气估值问题</h2>
<p>通用电气航空的一个关键问题是，其估值已经高度拉伸。前瞻市盈率（P/E）比率为 42，高于 22.7 的中位数估计。</p>
<p>此外，公司的前瞻企业价值与息税折旧及摊销前指标（EV/EBITDA）比率为 25.6，高于 11 的行业中位数。尤其是，其前瞻现金流倍数为 33。</p>
<p>这些数字高于其他工业公司。例如，股价创下历史新高的洛克希德·马丁的前瞻 P/E 比率为 21.6，而 RTX 的前瞻倍数为 32。通用动力公司的前瞻倍数也为 21。</p>
<p>这些数字意味着通用电气航空是一家高昂的公司，这意味着它需要继续保持强劲的营收和盈利增长。</p>
<h2>通用电气股价分析</h2>
<p><img src="https://imageproxy.pbkrs.com/https://ik.imagekit.io/invezz/uploads/2024/09/GE-Aviation-stock.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ik.imagekit.io/invezz/uploads/2024/09/GE-Aviation-stock.png"/></p>
<p>从周线图可以看出，通用电气股价一直处于强劲的牛市行情中，投资者对其转型、强劲的市场份额和强劲的营收增长感到满意。</p>
<p>通用电气股价保持在 50 周和 100 周指数移动平均线（EMA）之上。</p>
<p>另一方面，股价形成了一个上升楔形图表模式，如蓝色所示。在价格走势分析中，这是市场上最悲观的模式之一。</p>
<p>另一个负面因素是，相对强弱指数（RSI）形成了一个悲观的背离图表模式。此外，移动平均收敛差指标（MACD）也形成了类似的模式。</p>
<p>因此，虽然股价可能还有上涨空间，但存在在未来几个月内出现回调的风险。关键事件将是其定于 10 月 22 日公布的财报。如果业绩疲软，股价可能下跌至下一个支撑位 175 美元。</p>
<p>本文首发于 Invezz，转载请注明出处。</p>

GE航空航天

<p>GE 航空航天的股价今年已经上涨超过 47%，表现优于 Vanguard 工业指数基金。作为飞机发动机制造业的领导者，该公司受益于强劲的需求和推动国防支出的地缘政治因素。然而，人们对其高估值表示担忧，其前瞻市盈率为 42，明显高于行业中位数。分析师预测公司将继续实现收入增长，但股价显示出潜在回调迹象，这是基于技术分析中的熊市模式。总体而言，尽管 GE 航空航天表现良好，但其估值引发了对未来表现的疑问</p>

<p><img src="https://imageproxy.pbkrs.com/https://ik.imagekit.io/invezz/uploads/2020/04/112207180_s-740x416.jpg" alt="" original-src="https://ik.imagekit.io/invezz/uploads/2020/04/112207180_s-740x416.jpg"/></p>
<p>The General Electric (NYSE: GE) stock price is firing on all cylinder this year as the transformation under Lawrence Culp continued. It has jumped by over 47% this year, outperforming the closely-watched Vanguard Industrial Index Fund (VIS), which has jumped by almost 17% this year.</p>
<div class="lb-trans"><p>通用电气（NYSE: GE）股价今年表现强劲，随着劳伦斯·卡普尔的转型继续进行。今年股价上涨超过 47%，表现优于备受关注的 Vanguard 工业指数基金（VIS），后者今年上涨近 17%。</p>
</div><h2>Soaring demand continues</h2>
<div class="lb-trans"><h2>需求持续飙升</h2>
</div><p>GE Aerospace is the world’s biggest aircraft engine company in the world, with over $200 billion in market cap.</p>
<div class="lb-trans"><p>GE 航空航天是全球最大的飞机发动机公司，市值超过 2000 亿美元。</p>
</div><p>It is a leading company that manufactures engines for narrow and wide body planes and defense industry.</p>
<div class="lb-trans"><p>这是一家领先的公司，专门生产窄体和宽体飞机以及国防行业的发动机。</p>
</div><p>The company also manufactures other systems used in the civil, avionics, and software industries.</p>
<div class="lb-trans"><p>该公司还生产民用、航空电子和软件行业中使用的其他系统。</p>
</div><p>It has done well this year after the company became an independent company. Before that, it separated with GE Healthcare and GE Vernova, its power businesses, which are currently valued at over $41 billion and $69 billion, respectively.</p>
<div class="lb-trans"><p>在成为独立公司后，该公司今年表现不俗。在此之前，它与 GE Healthcare 和 GE Vernova（其电力业务）分开，目前分别价值超过 410 亿美元和 690 亿美元。</p>
</div><p>GE Aviation’s strong performance mirrors that of other aircraft engine manufacturers like Rolls-Royce <strong>,</strong> whose stock has soared by over 80% this year. Safran has jumped by over 35% while other companies in the industry like Lockheed Martin and RTX have soared to their all-time highs.</p>
<div class="lb-trans"><p>GE 航空表现强劲，与劳斯莱斯等其他飞机发动机制造商的表现相似，后者今年股价飙升超过 80%。赛峰股价上涨超过 35%，而洛克希德·马丁和 RTX 等行业其他公司的股价也创下历史新高。</p>
</div><p>This performance is happening as airlines continue placing massive orders from firms like Embraer, Airbus, and Boeing.</p>
<div class="lb-trans"><p>航空公司继续向巴西航空工业公司、空客和波音等公司大量订购。</p>
</div><p>Embraer’s backlog has jumped to over $21 billion while Boeing and Airbus have backlogs of 5,400 and 8,600, respectively.</p>
<div class="lb-trans"><p>巴西航空工业公司的订单积压已增至超过 210 亿美元，而波音和空客的订单积压分别为 5400 架和 8600 架。</p>
</div><p>These are substantial numbers and the trend will likely continue in the coming years. Besides, it is expected that the number of airline passengers will continue growing in the coming years as the middle class expands.</p>
<div class="lb-trans"><p>这些数字庞大，这一趋势可能在未来几年持续。此外，随着中产阶级的扩大，预计未来几年航空旅客数量将继续增长。</p>
</div><p>GE’s advantage over Rolls-Royce is that it manufactures both narrow and wide body engines while RR makes only the latter.</p>
<div class="lb-trans"><p>通用电气相对于劳斯莱斯的优势在于，它生产窄体和宽体发动机，而劳斯莱斯只生产后者。</p>
</div><p>GE Aerospace is also benefiting from the ongoing geopolitical issues that have led to a surge in defense spending. This is notable since GE is a leading provider of the engines used by military aircraft.</p>
<div class="lb-trans"><p>GE 航空航天还受益于导致国防开支激增的持续地缘政治问题。这一点值得注意，因为 GE 是军用飞机使用的发动机的主要供应商。</p>
</div><h2>GE is doing well</h2>
<div class="lb-trans"><h2>通用电气表现良好</h2>
</div><p>The most recent financial results showed that GE Aerospace’s revenue rose by 4% in the second quarter to over $8.2 billion. Its operating profit rose to over $1.9 billion while its free cash flow was over $1.1 billion.</p>
<div class="lb-trans"><p>最近的财务结果显示，GE 航空航天第二季度营收增长 4%，达到 82 亿美元以上。其营业利润增至 19 亿美元以上，自由现金流超过 11 亿美元。</p>
</div><p>This revenue growth was driven by both its commercial business. Its commercial division’s revenue rose to $6.1 billion, up from $5.7 billion in the same period last year. Also, its operating profit jumped to $1.7 billion.</p>
<div class="lb-trans"><p>这一营收增长得益于其商用业务。其商用部门的营收从去年同期的 57 亿美元增至 61 亿美元。此外，其营业利润跃升至 17 亿美元。</p>
</div><p>GE, like other companies in the industry, makes money by selling engines, parts, and doing regular maintenance. Its services revenue rose by 14%</p>
<div class="lb-trans"><p>与行业其他公司一样，通用电气通过销售发动机、零部件和定期维护赚钱。其服务收入增长 14%。</p>
</div><p>The Defense &amp; Propulsion Technologies division remained steady at $2.4 billion while its order book dropped by 25% to $2.3 billion.</p>
<div class="lb-trans"><p>国防与推进技术部门保持稳定，为 24 亿美元，而其订单簿下降了 25%，至 23 亿美元。</p>
</div><p>GE Aerospace believes that its business will continue doing well this year. Its operating profit for the year is expected to be between $6.5 billion and $6.8 billion. Also, its free cash flow is expected to rise from $4.7 billion in 2023 to between $5.3 billion and $5.6 billion.</p>
<div class="lb-trans"><p>GE 航空航天相信，今年其业务将继续表现良好。预计全年营业利润将在 65 亿美元至 68 亿美元之间。此外，预计其自由现金流将从 2023 年的 47 亿美元增至 53 亿美元至 56 亿美元之间。</p>
</div><p>Analysts, on the other hand, expect that its annual revenue will be $35.2 billion this year followed by $39.95 billion in the following year.</p>
<div class="lb-trans"><p>另一方面，分析师预计，今年其年度营收将达到 352 亿美元，明年将达到 399.5 亿美元。</p>
</div><h2>GE valuation concerns</h2>
<div class="lb-trans"><h2>通用电气估值问题</h2>
</div><p>A key concern for General Electric Aviation is that its valuation has become highly stretched. The forward price-to-earnings (P/E) ratio stands at 42, higher than the median estimate of 22.7.</p>
<div class="lb-trans"><p>通用电气航空的一个关键问题是，其估值已经高度拉伸。前瞻市盈率（P/E）比率为 42，高于 22.7 的中位数估计。</p>
</div><p>Additionally, the company has a forward EV to EBITDA ratio of 25.6, higher than the industry median of 11. Most notably, its forward price-to-cash flow multiple of 33.</p>
<div class="lb-trans"><p>此外，公司的前瞻企业价值与息税折旧及摊销前指标（EV/EBITDA）比率为 25.6，高于 11 的行业中位数。尤其是，其前瞻现金流倍数为 33。</p>
</div><p>These numbers are higher than those of other industrial companies. For example, Lockheed Martin <strong>,</strong> which has jumped to a record high, has a forward P/E ratio of 21.6 while RTX has a forward multiple of 32. General Dynamics also has a forward multiple of 21.</p>
<div class="lb-trans"><p>这些数字高于其他工业公司。例如，股价创下历史新高的洛克希德·马丁的前瞻 P/E 比率为 21.6，而 RTX 的前瞻倍数为 32。通用动力公司的前瞻倍数也为 21。</p>
</div><p>These numbers mean that GE Aviation is a highly expensive company, meaning that it will need to continue having strong revenue and profitability growth.</p>
<div class="lb-trans"><p>这些数字意味着通用电气航空是一家高昂的公司，这意味着它需要继续保持强劲的营收和盈利增长。</p>
</div><h2>GE stock price analysis</h2>
<div class="lb-trans"><h2>通用电气股价分析</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://ik.imagekit.io/invezz/uploads/2024/09/GE-Aviation-stock.png" alt="" original-src="https://ik.imagekit.io/invezz/uploads/2024/09/GE-Aviation-stock.png"/></p>
<p>Turning to the weekly chart, we see that the GE share price has been in a strong bull run as investors cheer its turnaround, strong market share, and strong revenue growth.</p>
<div class="lb-trans"><p>从周线图可以看出，通用电气股价一直处于强劲的牛市行情中，投资者对其转型、强劲的市场份额和强劲的营收增长感到满意。</p>
</div><p>GE shares have remained above the 50-week and 100-week Exponential Moving Averages (EMA).</p>
<div class="lb-trans"><p>通用电气股价保持在 50 周和 100 周指数移动平均线（EMA）之上。</p>
</div><p>On the other hand, the stock has formed a rising wedge chart pattern shown in blue. In price action analysis, this is one of the most bearish patterns in the market.</p>
<div class="lb-trans"><p>另一方面，股价形成了一个上升楔形图表模式，如蓝色所示。在价格走势分析中，这是市场上最悲观的模式之一。</p>
</div><p>The other negative is that the Relative Strength Index (RSI) has formed a bearish divergence chart pattern. Also, the MACD indicator has formed a similar pattern.</p>
<div class="lb-trans"><p>另一个负面因素是，相对强弱指数（RSI）形成了一个悲观的背离图表模式。此外，移动平均收敛差指标（MACD）也形成了类似的模式。</p>
</div><p>Therefore, while the stock may have some more upside, there is a risk that it will have a pullback in the coming months. The key event to watch will be its earnings scheduled on October 22. Weak results could see it drop to the next support at $175.</p>
<div class="lb-trans"><p>因此，虽然股价可能还有上涨空间，但存在在未来几个月内出现回调的风险。关键事件将是其定于 10 月 22 日公布的财报。如果业绩疲软，股价可能下跌至下一个支撑位 175 美元。</p>
</div><p>The post GE Aviation stock gets overbought and overvalued: is it a buy? appeared first on Invezz</p>
<div class="lb-trans"><p>本文首发于 Invezz，转载请注明出处。</p>
</div>

GE 航空航天股票被超买且估值过高：现在是否值得买入？