stockrow
Friday 6 November 2026
Export GEV’s income statement to Excel — free account
GE Vernova Inc.
GEV Industrials Specialty Industrial Machinery
GE Vernova Inc.’s revenue for fiscal 2025 (year ended December 2025) was $38.1 billion, up 8.97% from fiscal 2024.
- Revenue
- +26.8%
- EPS
- +191.9%
- Free cash flow
- +640.0%
Quarter to September 2026, against a year earlier
775.58
57.25
−6.87%
Follow GEV
Alert me
Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | 33,006 | 29,654 | 33,239 | 34,935 | 38,068 | 44,041 | +3.6% | 46,930 | 53,474 | 61,416 | +17.3% | |
| Gross margin, % | — | — | — | — | — | 14.98 | 11.66 | 14.50 | 17.42 | 19.79 | 21.73 | +4.8 pt | ||||||
| EBT | — | — | — | — | — | (864) | (2,474) | (130) | 2,498 | 2,828 | 8,915 | n/m | ||||||
| EBT margin, % | — | — | — | — | — | (2.62) | (8.34) | (0.39) | 7.15 | 7.43 | 20.24 | +10.1 pt | ||||||
| Net income | — | — | — | — | — | (724) | (2,722) | (474) | 1,559 | 4,879 | 10,357 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | 0.00 | 108.23 | 121.31 | 127.04 | 139.96 | 165.57 | n/m | |||||
| Earnings | — | — | — | — | — | — | (9.93) | (1.60) | 5.65 | 17.92 | 38.55 | n/m | ||||||
| Cash flow | — | — | — | — | — | 0.00 | (0.42) | 4.33 | 9.39 | 18.33 | 72.24 | n/m | ||||||
| Capex | — | — | — | — | — | 0.00 | (1.68) | (2.50) | (3.12) | (4.55) | (7.09) | n/m | ||||||
| Free cash flow | — | — | — | — | — | 0.00 | (2.09) | 1.83 | 6.27 | 13.78 | 65.15 | n/m | ||||||
| Book value | — | — | — | — | — | 0.00 | 42.36 | 30.58 | 38.52 | 45.21 | 47.14 | n/m | ||||||
| Shares, m | — | — | — | — | — | — | 274 | 274 | 275 | 272 | 269 | (0.2%) | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 58.22 | 36.25 | 20.12 | 18.9 | |||||
| P/S | — | — | — | — | — | 1.08 | 1.08 | 1.08 | 2.59 | 4.67 | 4.68 | 2.1 | ||||||
| P/B | — | — | — | — | — | 4.29 | 4.29 | 4.29 | 8.54 | 14.46 | 16.45 | 7.2 | ||||||
| EV/Sales | — | — | — | — | — | 1.04 | 1.04 | 1.04 | 2.35 | 4.44 | 4.37 | 2.0 | ||||||
| EV/FCF | — | — | — | — | — | 68.55 | 68.55 | 68.55 | 47.68 | 45.13 | 11.10 | 59.7 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | (1,660) | (114) | 1,186 | 2,583 | 4,987 | 19,216 | n/m | |||||
| Capex | — | — | — | — | — | (508) | (460) | (684) | (858) | (1,238) | (1,887) | +24.9% | ||||||
| Free cash flow | — | — | — | — | — | (2,168) | (574) | 502 | 1,725 | 3,749 | 17,329 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | (141) | (1,878) | 2,468 | (756) | (10,786) | +75.0% | |||||
| Net debt | — | — | — | — | — | — | (2,067) | (1,551) | (8,205) | (8,848) | (13,969) | +62.4% | ||||||
| Shareholders’ equity | — | — | — | — | — | — | 11,607 | 8,380 | 10,593 | 12,296 | 12,538 | +1.9% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | 0.00 | (12.30) | (0.97) | 3.18 | 8.53 | 14.75 | +8.5 pt | |||||
| ROIC | — | — | — | — | — | 0.00 | (18.87) | (8.45) | 12.33 | 25.18 | 0.00 | +25.2 pt | ||||||
| ROE | — | — | — | — | — | 0.00 | 0.00 | (4.38) | 16.36 | 42.68 | 93.12 | +42.7 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | 80,000 | 75,000 | 75,000 | — | (3.2%) | |||||
| Revenue/emp, $m | — | — | — | — | — | 0.00 | 0.00 | 0.42 | 0.47 | 0.51 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026
Business profile
Where the money comes from and where it goes Fiscal 2025
| Equipment | 20,934 | 54.99% |
|---|---|---|
| Services | 17,134 | 45.01% |
| Gross margin | 19.79% | |
| Operating margin | 3.65% | |
| Pre-tax margin | 7.43% |
GE Vernova Inc. vs peers in Specialty Industrial Machinery (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| GEV GE Vernova Inc. | $203.9B | 20.1× | 27.3× | +26.81% (above 0%: growing) | +191.92% (above 0%: growing) | +640.03% (above 0%: growing) | 24.57% | 11.03% | |
| ETN Eaton Corporation, PLC | $127.1B | 32.6× | 32.9× | +28.03% (above 0%: growing) | +6.79% (above 0%: growing) | −11.00% (below 0%: shrinking) | 34.70% | 17.76% | Compare |
| PH Parker-Hannifin Corporation | $112.5B | 30.5× | 29.1× | +17.86% (above 0%: growing) | +9.70% (above 0%: growing) | +7.58% (above 0%: growing) | 37.73% | 0.00% | Compare |
| EMR Emerson Electric Co. | $90.7B | 35.7× | 33.6× | +7.10% (above 0%: growing) | +23.08% (above 0%: growing) | +8.91% (above 0%: growing) | 52.68% | 25.90% | Compare |
| ITW Illinois Tool Works Inc. | $81.1B | 25.4× | 24.3× | +4.36% (above 0%: growing) | +6.53% (above 0%: growing) | −5.57% (below 0%: shrinking) | 45.09% | 27.79% | Compare |
| CMI Cummins Inc. | $61.8B | 18.6× | 17.8× | +13.48% (above 0%: growing) | +113.66% (above 0%: growing) | +9.43% (above 0%: growing) | 27.71% | 15.30% | Compare |
| AME AMETEK, Inc. | $51.1B | 31.4× | 32.8× | +17.31% (above 0%: growing) | +15.55% (above 0%: growing) | +25.59% (above 0%: growing) | 36.50% | 26.35% | Compare |
| ROK Rockwell Automation, Inc. | $42.3B | 35.6× | 33.8× | +7.88% (above 0%: growing) | +40.38% (above 0%: growing) | +33.74% (above 0%: growing) | 49.46% | 21.75% | Compare |
| IR Ingersoll Rand Inc. | $31.4B | 22.9× | 32.9× | +5.62% (above 0%: growing) | +180.65% (above 0%: growing) | +91.49% (above 0%: growing) | 44.76% | 37.90% | Compare |
| Median of peers | $71.4B | 30.9× | 32.8× | +10.68% | +19.32% | +9.17% | 41.25% | 23.83% |
From the latest earnings call
- Scott Strazik said GE Vernova signed 11 gigawatts of gas orders and slot reservations in the third quarter, while shipping 5 gigawatts.
- Strazik said the planned Trench acquisition would broaden GE Vernova’s high-voltage equipment portfolio and give it greater control over component supply.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
78.71%
Held by the ten largest
40.14%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Vanguard | 25.07m | 9.41% | +660.00 |
| BlackRock | 21.76m | 8.17% | +1.04m |
| Fidelity (FMR) | 16.15m | 6.06% | −2.19m |
| State Street | 11.77m | 4.42% | +370.84k |
| Capital Group | 6.58m | 2.47% | +505.92k |
| Geode Capital Management | 6.35m | 2.38% | −38.09k |
| JPMorgan Chase | 6.25m | 2.35% | −499.66k |
| Morgan Stanley | 5.72m | 2.15% | −653.76k |
| UBS | 3.70m | 1.39% | +271.21k |
| Fisher Investments | 3.56m | 1.34% | +3.56m |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 3 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 18.02m | 119.35m | 468.00 |
| 2024 | 24.33m | 93.74m | 235.00 |
Ownership
Directors and executive officers, together
less than 1%
FMR LLC245 Summer StreetBoston, MA
8.70%
The Vanguard Group100 Vanguard Blvd.Malvern, PA
8.70%
BlackRock, Inc.50 Hudson Yard,New York, NY
6.50%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
GE Vernova Inc. (GEV) Latest News
5 Nov
3 Nov
2 Nov
30 Oct
29 Oct
28 Oct
GEV metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Shares outstanding
- Book value per share
- Revenue growth
- Beneish M-score
GE Vernova makes and services equipment used to generate electricity and move it from power plants to customers. Its customers include utilities, independent power producers, industrial companies, governments and large electricity users. The company is headquartered in Cambridge, Massachusetts, and Scott Strazik is its chief executive officer.
The company has three businesses. Power supplies gas and steam turbines, nuclear technology and hydropower equipment, along with maintenance and upgrades. Wind makes onshore and offshore wind turbines and blades and services operating wind farms. Electrification supplies equipment and software for transmitting, distributing, converting and storing electricity, including transformers, switchgear and substations.