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GEV

GE Vernova Inc.

GEV

GE Vernova Inc. • NYSE
$599.75 ▲ 1.70% (+10.03)
Market Cap $162.72 B
52w High $677.29
52w Low $252.25
Dividend Yield 1.00%
P/E 97.84
Volume 987.56K
Outstanding Shares 271.32M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $9.969B ▲ $1.531B ▲ $452M ▼ 4.534% ▼ $1.66 ▼ $1.003B ▲
Q2-2025 $9.111B ▲ $1.468B ▲ $514M ▲ 5.642% ▲ $1.89 ▲ $584M ▲
Q1-2025 $8.032B ▼ $1.427B ▼ $254M ▼ 3.162% ▼ $0.92 ▼ $248M ▼
Q4-2024 $10.558B ▲ $1.53B ▲ $484M ▲ 4.584% ▲ $1.76 ▲ $861M ▲
Q3-2024 $8.913B $1.468B $-96M -1.077% $-0.35 $38M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $7.945B ▲ $54.398B ▲ $44.669B ▲ $8.646B ▼
Q2-2025 $7.892B ▲ $53.078B ▲ $43.131B ▲ $8.877B ▲
Q1-2025 $7.807B ▼ $51.559B ▲ $41.887B ▲ $8.607B ▼
Q4-2024 $8.205B ▲ $51.485B ▲ $40.892B ▲ $9.546B ▲
Q3-2024 $7.395B $50.853B $40.335B $9.504B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $452M ▼ $980M ▲ $-167M ▼ $-774M ▼ $53M ▲ $733M ▲
Q2-2025 $492M ▲ $367M ▼ $-121M ▼ $-604M ▲ $-214M ▼ $194M ▼
Q1-2025 $254M ▼ $1.161B ▲ $-93M ▲ $-1.257B ▼ $-98M ▼ $975M ▲
Q4-2024 $484M ▲ $921M ▼ $-175M ▼ $163M ▼ $810M ▼ $571M ▼
Q3-2024 $-96M $1.124B $-114M $585M $1.616B $968M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Product
Product
 $5.85Bn ▲$4.20Bn ▼$4.89Bn ▲$5.88Bn ▲
Service
Service
 $4.71Bn ▲$3.83Bn ▼$4.22Bn ▲$4.09Bn ▼

Five-Year Company Overview

Income Statement

Income Statement GE Vernova’s income statement shows a clear turnaround story. Sales have grown again after an earlier dip, and the company has moved from meaningful losses to solid profitability. Profit margins have improved step by step, suggesting better pricing, cost control, and mix of business. That said, this is still a capital‑heavy, project‑driven business. Results can be lumpy from year to year, and parts of the portfolio (especially wind) have historically been harder to run profitably. The recent improvement is encouraging but still needs to prove it can hold through a full economic and policy cycle.

Balance Sheet

Balance Sheet The balance sheet looks relatively strong for such a large industrial and infrastructure player. Total assets have been rising, and the cash position has grown sharply, giving the company a much more comfortable financial cushion than in prior years. Debt levels are modest relative to the size of the business and to the equity base, which reduces financial risk compared with many peers. Shareholders’ equity dipped earlier but has recovered more recently, helped by the return to profitability. Overall, GE Vernova appears to be entering its life as a standalone public company with a generally healthy and improving financial foundation, though still building its track record outside the former GE umbrella.

Cash Flow

Cash Flow Cash generation has improved significantly. The company has shifted from consuming cash in earlier years to consistently producing cash from its core operations. Free cash flow has turned positive and strengthened, even after funding a steady level of investment in plants, equipment, and technology. This pattern suggests that earnings quality has improved and that the business model is becoming more self‑funding. However, given the long‑cycle nature of large power and grid projects, cash flows are likely to remain uneven at times and sensitive to project timing, contract execution, and customer payments.

Competitive Edge

Competitive Edge GE Vernova holds a very strong position in the global energy ecosystem. Its technologies are involved in generating a large share of the world’s electricity, which supports a deep installed base and long‑term service relationships. This installed base and service revenue create a meaningful competitive moat and recurring income stream. The company competes at scale in gas power, onshore and offshore wind, and grid equipment, with particular strength in Western markets and in complex, high‑specification projects. It also benefits from being an end‑to‑end solutions provider, from generation to grid software. On the risk side, it faces intense competition (especially from lower‑cost Asian manufacturers), heavy exposure to government policy and regulation, and the execution complexity of large, technically demanding projects.

Innovation and R&D

Innovation and R&D GE Vernova is heavily leaning into innovation to anchor its future growth. It invests substantial sums in research and development each year, targeting next‑generation technologies across nuclear, gas, wind, and grid. Standout programs include its small modular nuclear reactor design, high‑efficiency and hydrogen‑capable gas turbines, very large offshore wind turbines, and advanced grid and HVDC solutions. These initiatives support a clear energy‑transition narrative and, if executed well, could deepen its competitive moat. The flip side is that many of these bets—especially small modular reactors, hydrogen combustion, and carbon capture—carry long timelines, regulatory hurdles, and uncertain economics, so there is both significant upside potential and meaningful execution risk.

Summary

Overall, GE Vernova looks like a large, established energy technology business that has been cleaning up its financials and sharpening its focus as it steps out as a standalone public company. The recent swing from losses to profits, stronger cash generation, and bolstered cash reserves all point to improving financial health. Strategically, the company is well placed in critical parts of the energy transition—gas‑to‑clean, renewables, grid modernization, and advanced nuclear—backed by a vast installed base and a strong service franchise. Key things to monitor going forward include: the durability of profit margins across cycles, the path to more stable profitability in the wind segment, the real‑world commercialization of its small modular reactor and hydrogen technologies, and its ability to manage policy, regulatory, and project‑execution risks inherent in large energy infrastructure. The long‑term opportunity is considerable, but so is the complexity of delivering on it.

NEWS

November 19, 2025 · 8:30 AM UTC

GE Vernova Secures First Onshore Wind Repower Upgrade Contract Outside the United States with Taiwan Power Company

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October 21, 2025 · 4:31 PM UTC

GE Vernova to Fully Acquire Prolec GE Joint Venture

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September 25, 2025 · 4:25 PM UTC

GE Vernova Declares Fourth Quarter 2025 Dividend

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September 10, 2025 · 4:30 PM UTC

Scott Reese Elected to Planet's Board of Directors

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