Historical source-based research. Compilation date and financial period are different dates.
Observation
Across 10 eligible industrials companies, the equal-weight median equity as a share of assets was 25.49% for the latest selected annual periods.
Data context
The eligible sample covers 10 of 11 selected companies. The latest selected annual periods span 2025-11-02 to 2026-06-30. Companies have different fiscal year ends. This is a cross-sectional research sample, not a calendar-year index or a representation of the full sector.
Company evidence
GE 14.35% (period 2025-12-31); RTX 38.14% (period 2025-12-31); DE 24.48% (period 2025-11-02); UNP 26.50% (period 2025-12-31); ETN 47.09% (period 2025-12-31); BA 3.24% (period 2025-12-31); LMT 11.23% (period 2025-12-31); PH 49.89% (period 2026-06-30); GD 44.76% (period 2025-12-31); UPS 22.20% (period 2025-12-31).
Distribution
The sample range is 3.24% (BA) to 49.89% (PH). The median is computed across company ratios with equal weight; it is not a ratio of aggregate totals. Extreme values can reflect a small denominator or unusual accounting items.
Interpretation
Equipment manufacturers, transport operators and industrial service providers face differing order and asset cycles. The numerator is shareholdersEquity; the denominator is total assets. Only positive denominators and disclosed numerators qualify. No missing value is replaced with zero.
What to watch
Backlog conversion, utilization, deliveries, working capital and service revenue.
Research limitations
Order cancellations, supply constraints, execution risk, labor costs and capital-cycle sensitivity. The sample uses a September 18, 2026 source snapshot. It does not establish current market conditions, causal drivers or future returns. Sector labels are editorial and the financial-sector cash-flow measures need particular caution.
| Company | Value | Period end |
|---|---|---|
| GE | 14.35% | 2025-12-31 |
| RTX | 38.14% | 2025-12-31 |
| DE | 24.48% | 2025-11-02 |
| UNP | 26.50% | 2025-12-31 |
| ETN | 47.09% | 2025-12-31 |
| BA | 3.24% | 2025-12-31 |
| LMT | 11.23% | 2025-12-31 |
| PH | 49.89% | 2026-06-30 |
| GD | 44.76% | 2025-12-31 |
| UPS | 22.20% | 2025-12-31 |
Sources & dates
- GE · period 2025-12-31 ↗Source date 2026-01-29
- RTX · period 2025-12-31 ↗Source date 2026-02-06
- DE · period 2025-11-02 ↗Source date 2025-12-18
- UNP · period 2025-12-31 ↗Source date 2026-02-06
- ETN · period 2025-12-31 ↗Source date 2026-02-26
- BA · period 2025-12-31 ↗Source date 2026-01-30
- LMT · period 2025-12-31 ↗Source date 2026-01-29
- PH · period 2026-06-30 ↗Source date 2026-08-21
- GD · period 2025-12-31 ↗Source date 2026-01-30
- UPS · period 2025-12-31 ↗Source date 2026-02-17