GE Vernova
GEV NYSE· Heavy Electrical Equipment
Last close · Oct 26, 2026
$855.12
KIRA · Stoqly’s AI analyst, in plain words
- GE Vernova had $38.1B of revenue in fiscal 2025, up 9.0% on the year before.
- Its operating margin was 3.7%, up 2.3 pts: of every 100 in sales, about 4 is left after running the business.
- GE Vernova made $4.9B of net profit in fiscal 2025.
- Free cash flow was $3.7B in fiscal 2025, 9.8% of revenue.
- GE Vernova returned $3.6B to shareholders in fiscal 2025, 97% of free cash flow. The diluted share count fell 0.7%.
- GE Vernova has $8.5B more cash than debt.
Market cap
$230.9B
P/E
24.6x
Revenue
$38.1B
Net income
$4.9B
Free cash flow
$3.7B
Operating margin
3.7%
GE Vernova in 30 seconds · fiscal 2025
Are sales growing?
+9.0%
Yes. Sales grew 9.0% last year.
Does it make a profit?
12.8%
Yes. It keeps 12.8% of every sale as profit.
Does profit turn into cash?
9.8%
Partly. 9.8% of sales ends up as free cash.
Is debt under control?
Net cash
Yes. It has more cash than debt.
How healthy are the accounts?
7 / 9
Solid. It passes 7 of 9 health tests.
How is the share priced?
24.6x
One share costs 24.6 times its yearly profit per share. Typical for its sector: 26.0x.
What GE Vernova does
GE Vernova makes and services equipment that generates, moves and manages electric power. Its customers include utilities, independent power producers, developers, governments and industrial companies around the world. It says the machines it has installed generate approximately 25% of the world's electricity. It was spun off from General Electric, now GE Aerospace, on April 2, 2024. It reports three segments. Power makes gas and steam turbines and sells nuclear technology, hydropower solutions and the service of that equipment. Wind makes onshore and offshore wind turbines and blades. Electrification supplies equipment and software to transmit, distribute, convert and store electricity. Servicing equipment it has already installed is a large part of its strategy. At the end of 2025 it had approximately $94.4 billion in remaining performance obligations, which is its measure of backlog: firm customer orders for equipment and services not yet delivered.
Biggest risks, in its own words
- Quality problems in its machines that could lead to warranty claims, delays and damage to its reputation.
- Supply chain and shipping disruptions, including limited sources for some chips and critical materials.
- Pressure on project costs and schedules at offshore wind, including the U.S. pause on offshore wind leases.
- Factory disruptions or capacity limits that could delay deliveries as it expands production.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Jan 29, 2026
- Legal name
- GE Vernova Inc.
- CIK
- 0001996810
GE Vernova · GEV
Results and finances
The last 4 fiscal years. Amounts in USD.
| Fiscal year | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Sales and profit | ||||
| Revenue | $29.7B | $33.2B | $34.9B | $38.1B |
| Revenue growth | — | 12.1% | 5.1% | 9.0% |
| Gross margin | 11.7% | 14.5% | 17.4% | 19.8% |
| Operating margin | −9.7% | −2.8% | 1.4% | 3.7% |
| Net income | −$2.7B | −$438M | $1.6B | $4.9B |
| Net margin | −9.2% | −1.3% | 4.4% | 12.8% |
| Diluted EPS | −$10.00 | −$1.60 | $5.58 | $17.69 |
| Cash | ||||
| Cash from operations | −$114M | $1.2B | $2.6B | $5.0B |
| Capital expenditure | $513M | $744M | $883M | $1.3B |
| Free cash flow | −$627M | $442M | $1.7B | $3.7B |
| FCF margin | −2.1% | 1.3% | 4.9% | 9.8% |
| Dividends paid | $0.0M | $0.0M | $0.0M | $275M |
| Share buybacks | $0.0M | $0.0M | $43.0M | $3.3B |
| Share count change | — | 0.0% | 1.5% | −0.7% |
| Debt and strength | ||||
| Cash and short-term investments | $2.1B | $1.6B | $8.2B | $8.8B |
| Debt incl. finance leases | $0.0M | $456M | $326M | $341M |
| Shareholders' equity | $11.6B | $7.4B | $9.5B | $11.2B |
| Net debt / EBITDA | — | −26.7x | −4.8x | −3.8x |
| Current ratio | — | 0.9x | 1.1x | 1.0x |
| Interest coverage | −37.4x | −11.1x | 6.4x | 26.2x |
| Returns and quality | ||||
| Return on capital | — | — | 5.9% | — |
| Return on equity | — | — | 18.3% | 47.1% |
| Piotroski F-score | — | — | — | 7 |
| Altman Z'' | — | −0.2 | 0.8 | 0.6 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$11.5M
3 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
GE Vernova · GEV
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| GE Vernova GEV | $230.9B | 9.0% | 3.7% | 9.8% | — | 24.6x | 7 |
| Generac GNRC | $11.3B | −2.0% | 6.9% | 6.4% | 6.5% | 43.5x | 6 |
| Honeywell Technologies HON | $70.0B | 7.9% | 21.7% | 14.5% | 17.1% | — | 4 |
| Northrop Grumman NOC | $80.5B | 2.2% | 10.8% | 7.9% | 13.5% | 17.9x | 6 |
| Cummins CMI | $72.3B | −1.3% | 12.0% | 7.1% | 18.3% | 26.7x | 7 |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $855.12 a share, the company is worth $230.9B: 24.6 times its earnings of the last four quarters.
GE Vernova grew sales faster than 4 of its 4 similar companies. Its P/E is higher than 1 of 3.
Source: SEC EDGAR XBRL filings (CIK 0001996810). Data updated October 9, 2026. For information only — not investment advice. Check the original filings before relying on any figure.