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GE Vernova (GEV) stock

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NYSE: GEV NYSE Heavy Electrical Equipment Next results ~January 27, 2027

B+ Fundamentals grade

GE Vernova is a US-listed company in the heavy electrical equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$1100

Cash-flow model

Base case. Range ~$880–$1500 across our lower- and higher-growth cases (11.9%–21.9% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 33% above it.

Price used: $862.25, November 2, 2026

GE Vernova valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter GE Vernova files

10-Q filed October 28: GE Vernova

Revenue for the twelve months to September 2026 reached $44.0bn, up 16.9% on a year earlier and faster than the 13.0% growth a quarter before. Free-cash-flow margin climbed to 38.9% from 6.6%, while operating margin widened to 6.4% from 3.7%. Supporting the per-share picture, the diluted share count is down 2.8% on a year earlier, lifting each remaining share. Taken together, these shifts move the fundamentals grade from B to B+. Our model value is little changed at $704 a share, against a current price of $874. The rating stays Sell.

Source: 10-Q filed October 28, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where GE Vernova stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $41.4bn, up 13.0% on a year earlier, faster than 10.3% a quarter earlier. Free-cash-flow margin rose to 30.1% from 7.4% a year earlier. Operating margin widened to 4.3% from 1.8%. The diluted share count is down 2.2% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 1 of our 2 financial-health checks. Our cash-flow model value is $684 a share, against a share price of $901.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 27, 2027 (estimated)

GE Vernova's trailing-twelve-month revenue grew 16.9% year on year, with a free-cash-flow margin of 38.9%. Where it stands out: free-cash-flow margin of 38.9% ranks 11 of 579 industrials companies we cover.

Our discounted-cash-flow model values the business at ~$1100 per share in the base case (~$880–$1500 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 592.1% while net income grew 508.5%: a 84pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $862.25 is 33% below our value per share of $1,100.
  • Fast growth. Revenue grew 16.9% over the last 12 months, against a median of 7.6% for industrials companies we cover.
  • Growth speeding up. The growth rate is 3.9 points higher than a quarter earlier.
  • Strong cash generation. 38.9% of revenue turned into free cash flow, against a median of 4.6% for industrials companies we cover.
  • Shrinking share count. Diluted shares fell 2.8% in a year, so each share owns more of the business.

Things to watch

  • Volatile shares. Over the past year the shares showed annualised volatility of 54% and a beta of 2.1 against the S&P 500.
  • Insiders selling. 3 insiders sold $12M of stock over the past 365 days and none bought (0% under pre-set trading plans).
  • Earnings expected to fall. The consensus expects earnings per share to fall 18% next year.

Latest results: FY2026 Q3

Filed October 28, 2026
Earnings per share
$4.81 against an average estimate of $4.01: beat by 19.9%
Revenue
$12.64bn, up 26.8% on a year earlier
Share reaction
-0.8% in the first session after the results on October 28, 2026, against 0.0% for the S&P 500
Guidance given
revenue $46.5bn to $47.5bn (2026); adjusted EBITDA margin 13.5% to 14.5% (2026)
Next report
January 27, 2027; average EPS estimate $6.83

GE Vernova's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.5%
  • 1 week+0.9%
  • 1 month-12.7%
  • This year+32.3%
  • 1 year+47.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$44B
Operating margin
6.4%
Net margin
23.5%
EPS (TTM, diluted)
$38.26

Growth

Revenue growth
+16.9%
Change in growth rate
+3.9 pts
Share count change
−2.8%

Cash

Free cash flow (TTM)
$17.1B
FCF margin
38.9%
Stock pay % of revenue
0.6%

Earnings

Last results
October 28, 2026
Next results (est.)
January 27, 2027

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results

    GE Vernova releases third-quarter 2026 financial results

    GE Vernova said it published its third-quarter 2026 financial results on its investor relations website on October 28, 2026. The company filed a Form 8-K to report the release of these figures. The document was signed by Matthew J. Potvin, the Vice President, Controller and Chief Accounting Officer.

    SEC 8-KRead source ↗
  2. Guidance
  3. Our research
  4. Leadership
  5. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

GE Vernova valuation models and calculator

What the price is pricing in

The share price implies about 12.2% a year of cash-flow growth for five years.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in12.2%
  • Last 12 months16.9%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($907.58, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$1100
Price used
$907.58close November 3, 2026
Implied change
▲ +26%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of GE Vernova's free cash flow after stock-based pay with after-tax interest added back ($7.7B, FY2026 Q3 TTM), growing 17.6% and 15.8% in the next two years (forecasts, guidance and its record), then back to 16.9% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$880–~$1500 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of GE Vernova's free cash flow after stock-based pay ( $7.7B, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value GE Vernova as an operating company, with every model that fits that kind of business. Cost of equity 11.1%: the 10-year Treasury yield (4.9%) plus a beta of 1.37 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$1100 ~$880–$1500 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: fewer than 5 peers with a usable multiple
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: return on equity above 40%: buybacks or intangibles make book value too small an anchor
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$190 ~$170–$220 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$830 ~$190–$1100 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare GE Vernova with Heavy Electrical Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −24%
  • Revenue growth 5 points higher ▲ +30%
  • Free-cash-flow margin 1 point lower ▼ −3%
  • Last year's free-cash-flow margin change, if it persists ▲ more than doubles
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $467$617$815$1077$1418$1858
8.5% $369$477$620$808$1050$1363
10% $309$393$504$647$832$1069

Valuation multiples over time Market data may be delayed

At fiscal year end 20242025Now
Share price$327.60$651.98$862.25
Market value$91.1bn$179.9bn$233.7bn
+ Net debt (− = net cash)−$8.1bn−$8.5bn−$13.9bn
Enterprise value$82.9bn$171.5bn$219.7bn
Multiples
Price / sales 2.6x4.7x5.3x
Price / earnings 58.7x36.8x22.5x
Price / free cash flow 53.6x48.5x13.7x
EV / EBITDA 60.7x85.6x62.0x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: January 27, 2027, before the open. Analysts expect revenue of $14.0bn and EPS of $6.83 (range $5.78 to $7.71) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $31.35 +77% $46.9bn +23%
Next $25.60 −18% $53.4bn +14%

Next year's EPS estimate has moved +3.0% in 90 days, across 25 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +1.9% on 90 days ago. In the last 30 days, 5 analysts raised GE Vernova's forecast and 3 cut it.

Consensus EPS forecast GE Vernova, last 90 days
$24.00 $26.00 $28.00 $30.00 $32.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $30.76 Current fiscal year, 60 days ago: $30.71 Current fiscal year, 30 days ago: $30.76 Current fiscal year, 7 days ago: $30.43 Current fiscal year, Now: $31.35 $31.35 Next fiscal year, 90 days ago: $24.86 Next fiscal year, 60 days ago: $24.45 Next fiscal year, 30 days ago: $24.64 Next fiscal year, 7 days ago: $24.49 Next fiscal year, Now: $25.60 $25.60

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $30.76$24.86
60 days ago $30.71$24.45
30 days ago $30.76$24.64
7 days ago $30.43$24.49
Now $31.35$25.60

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $4.01 $4.81 +19.9%
Jun 2026 $3.18 $2.47 −22.4%
Mar 2026 $2.00 $17.44 +771.6%
Dec 2025 $3.22 $13.39 +316.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 28, 2026
  • revenue 2026 $46.5bn to $47.5bn Raised
    “GE Vernova is raising its 2026 financial guidance and now expects revenue of $46.5-$47.5 billion, up from $45.5-$46.5 billion, adjusted EBITDA margin* of 13.5%-14.5%, up from 12%-14%, and free cash flow* of $16-$ 17 billion, up from $11.5-$12.5 billion.” source
  • adjusted EBITDA margin 2026 13.5% to 14.5% Non-GAAP Raised
    “GE Vernova is raising its 2026 financial guidance and now expects revenue of $46.5-$47.5 billion, up from $45.5-$46.5 billion, adjusted EBITDA margin* of 13.5%-14.5%, up from 12%-14%, and free cash flow* of $16-$ 17 billion, up from $11.5-$12.5 billion.” source
  • free cash flow 2026 $16bn to $17bn Non-GAAP Raised
    “GE Vernova is raising its 2026 financial guidance and now expects revenue of $46.5-$47.5 billion, up from $45.5-$46.5 billion, adjusted EBITDA margin* of 13.5%-14.5%, up from 12%-14%, and free cash flow* of $16-$ 17 billion, up from $11.5-$12.5 billion.” source
  • organic revenue growth · Power 2026 19% growth to 21% growth Non-GAAP Raised
    “Power : 19%-21% organic revenue* growth, up from 18%-20%, and 19%-21% segment EBITDA margin, up from 17%-19%.” source
  • segment EBITDA margin · Power 2026 19% to 21% Raised
    “Power : 19%-21% organic revenue* growth, up from 18%-20%, and 19%-21% segment EBITDA margin, up from 17%-19%.” source
  • revenue · Electrification 2026 $14.5bn to $15bn Maintained
    “Electrification : Revenue of $14.5-$15.0 billion, including approximately $3.1 billion from Prolec GE , and 18%-20% segment EBITDA margin, now trending toward the higher end of the range.” source
Show 3 more items
  • revenue from Prolec GE · Electrification - Prolec GE 2026 about $3.1bn Maintained
    “Electrification : Revenue of $14.5-$15.0 billion, including approximately $3.1 billion from Prolec GE , and 18%-20% segment EBITDA margin, now trending toward the higher end of the range.” source
  • segment EBITDA margin · Electrification 2026 18% to 20% Maintained
    “Electrification : Revenue of $14.5-$15.0 billion, including approximately $3.1 billion from Prolec GE , and 18%-20% segment EBITDA margin, now trending toward the higher end of the range.” source
  • segment EBITDA losses · Wind 2026 $400m to $500m Lowered
    “Wind : Organic revenue* down mid-single digits, versus prior guidance of down low-double digits, and $400-$500 million of segment EBITDA losses, versus prior guidance of approximately $400 million of segment EBITDA losses.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows GE Vernova's revenue by +17.6% next year and +15.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+17.6%, weight 48%) , management guidance (+17.9%, weight 31%) and the company's own record (+16.9%, weight 21%) . How the weights are set.

Analyst recommendations

38 analysts, Oct 2026
Buy3284%
Hold616%
Sell00%

Monthly trend

  1. Oct 2026626638
  2. Sep 2026624737
  3. Aug 2026624737
  4. Jul 2026624838

Counts of recommendations published by analysts covering GE Vernova, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
2.8%
of tradable shares
Days to cover
3.25
at average volume
Short interest, 1 month
−16%
to October 15, 2026
Held by institutions
82%
of shares
Held by insiders
0.1%
of shares
Employees
78,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +47.7%

$583.72 on October 31, 2025 to $862.25

ThenNowEffect
Revenue (last 12 months) $36.6bn $41.4bn +13.0%
Net margin 3.2% 23.0% +629.6%
P/E multiple 140.8x 24.7x −82.5%
Share count 279m 273m +2.2%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20252026 to date
Return
GEV+99%+32%
Industry peers (median)−17%−51%
S&P 500+18%+11%
Months that ended higher
GEV67%55%
S&P 50075%46%
Largest fall from a high during the year
GEV−38%−31%
S&P 500−19%−9%

Worst fall since March 27, 2024: 38% from January 23, 2025 to March 10, 2025. Getting back needed a 62% gain, reached on May 19, 2025, 70 days after the low.

Price behaviour

52-week range
$546.63 – $1174.17
From 52-week high
−26.6%
vs 50-day average
−7.5%
vs 200-day average
−8.7%
Volatility (1 year)
54%
Beta vs S&P 500
2.11

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 3 down
typical move ±6.1%
After a week
6 up, 3 down
typical move ±8.8%
After a month
6 up, 3 down
typical move ±18.0%
Results releasedNext dayS&P 500 next day5 days21 days
October 28, 2026 −0.8% 0.0% — —
July 22, 2026 −4.4% −1.3% −16.5% −10.5%
April 22, 2026 +16.0% +0.6% +7.2% +5.3%
January 28, 2026 +3.6% −0.2% +7.7% +26.1%
October 22, 2025 +1.7% +0.1% −1.3% −4.7%
April 23, 2025 +10.6% +3.7% +13.7% +40.7%
January 22, 2025 +5.2% +1.1% −15.1% −21.2%
October 23, 2024 +7.4% −0.7% +7.7% +22.9%
July 24, 2024 −6.2% −2.8% +4.5% +9.1%
April 25, 2024 +4.7% +0.6% +5.2% +21.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How GE Vernova’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look fairly priced

Implied volatility is within its normal range against realised. Selling options earns the usual premium, nothing extra.

  • Implied is 1.03× the last 60 days’ realised volatility , richer than 24% of the 229 stocks we screen today.
  • Why: implied is not far enough above realised, or not unusual against our coverage.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

GEV GE Vernova Grade B+ $871

Sell the $845 put expiring December 4, 2026 (32 days) for $41.80 a share — $4,180 per contract.

Previous session · Bid $41.80, ask $47.50, quoted Mon 2 Nov, 17:24 New York time with GEV at $871. Option prices move with the shares: check the live chain at your broker before trading.

  • If GEV ends above $845: you keep the $4,180 — 5.0% on the $84,500 set aside, or 56.4% a year at that pace.
  • If it ends below $845: you buy 100 shares at an effective $803.2, 8% below today's price and 27% below our value of ~$1100.
$4.2k $0 −$16.1k Break-even $803.2 Price $871 Our value ~$1100 →
Profit or loss per contract at expiry, by share price.
Premium
$4,180
Annualised
56.4%
Break-even
$803.2
Max gain
$4,180
Chance of buying
~38%

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

GE Vernova in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) GE Vernova
$30B $35B $40B $45B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $33.2B Revenue (TTM), FY24 Q1: $33.7B Revenue (TTM), FY24 Q2: $33.8B Revenue (TTM), FY24 Q3: $34.4B Revenue (TTM), FY24 Q4: $34.9B Revenue (TTM), FY25 Q1: $35.7B Revenue (TTM), FY25 Q2: $36.6B Revenue (TTM), FY25 Q3: $37.7B Revenue (TTM), FY25 Q4: $38.1B Revenue (TTM), FY26 Q1: $39.4B Revenue (TTM), FY26 Q2: $41.4B Revenue (TTM), FY26 Q3: $44B $44B

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $33.2B
FY24 Q1 $33.7B
FY24 Q2 $33.8B
FY24 Q3 $34.4B
FY24 Q4 $34.9B
FY25 Q1 $35.7B
FY25 Q2 $36.6B
FY25 Q3 $37.7B
FY25 Q4 $38.1B
FY26 Q1 $39.4B
FY26 Q2 $41.4B
FY26 Q3 $44B
Revenue growth, TTM YoY GE Vernova
0% 5% 10% 15% 20% FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q3 Revenue growth, TTM YoY, FY24 Q4: 5.1% Revenue growth, TTM YoY, FY25 Q1: 6.0% Revenue growth, TTM YoY, FY25 Q2: 8.5% Revenue growth, TTM YoY, FY25 Q3: 9.4% Revenue growth, TTM YoY, FY25 Q4: 9.0% Revenue growth, TTM YoY, FY26 Q1: 10.3% Revenue growth, TTM YoY, FY26 Q2: 13.0% Revenue growth, TTM YoY, FY26 Q3: 16.9% 16.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q4 5.1%
FY25 Q1 6.0%
FY25 Q2 8.5%
FY25 Q3 9.4%
FY25 Q4 9.0%
FY26 Q1 10.3%
FY26 Q2 13.0%
FY26 Q3 16.9%
Operating margin (TTM) GE Vernova
-5% 0% 5% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: -2.8% Operating margin (TTM), FY24 Q1: -2.2% Operating margin (TTM), FY24 Q2: 0.4% Operating margin (TTM), FY24 Q3: 0.2% Operating margin (TTM), FY24 Q4: 1.4% Operating margin (TTM), FY25 Q1: 2.3% Operating margin (TTM), FY25 Q2: 1.8% Operating margin (TTM), FY25 Q3: 3.7% Operating margin (TTM), FY25 Q4: 3.6% Operating margin (TTM), FY26 Q1: 3.9% Operating margin (TTM), FY26 Q2: 4.3% Operating margin (TTM), FY26 Q3: 6.4% 6.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 -2.8%
FY24 Q1 -2.2%
FY24 Q2 0.4%
FY24 Q3 0.2%
FY24 Q4 1.4%
FY25 Q1 2.3%
FY25 Q2 1.8%
FY25 Q3 3.7%
FY25 Q4 3.6%
FY26 Q1 3.9%
FY26 Q2 4.3%
FY26 Q3 6.4%
FCF margin (TTM) GE Vernova
0% 10% 20% 30% 40% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 1.3% FCF margin (TTM), FY24 Q1: 1.8% FCF margin (TTM), FY24 Q2: 5.5% FCF margin (TTM), FY24 Q3: 8.1% FCF margin (TTM), FY24 Q4: 4.9% FCF margin (TTM), FY25 Q1: 9.3% FCF margin (TTM), FY25 Q2: 7.4% FCF margin (TTM), FY25 Q3: 6.6% FCF margin (TTM), FY25 Q4: 9.7% FCF margin (TTM), FY26 Q1: 19.1% FCF margin (TTM), FY26 Q2: 30.1% FCF margin (TTM), FY26 Q3: 38.9% 38.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 1.3%
FY24 Q1 1.8%
FY24 Q2 5.5%
FY24 Q3 8.1%
FY24 Q4 4.9%
FY25 Q1 9.3%
FY25 Q2 7.4%
FY25 Q3 6.6%
FY25 Q4 9.7%
FY26 Q1 19.1%
FY26 Q2 30.1%
FY26 Q3 38.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 29.7 33.2 34.9 38.1 44.0
Gross profit 3.5 4.8 6.1 7.5 9.6
EBITDA −2.1 −0.2 1.4 2.0 3.5
Operating income −2.9 −0.9 0.5 1.4 2.8
Net income −2.7 −0.4 1.6 4.9 10.4
Diluted EPS −$10.00 −$1.60 $5.58 $17.69 $38.26
Growth (year on year)
Revenue — +12.1% +5.1% +9.0% +16.9%
EBITDA — — — +46.6% +76.7%
Operating income — — — — +104.9%
Net income — — — +214.7% +508.5%
Diluted EPS — — — +217.0% +525.9%
Margins
Gross margin 11.7% 14.5% 17.4% 19.8% 21.7%
EBITDA margin −7.1% −0.6% 3.9% 5.3% 8.0%
Operating margin −9.7% −2.8% 1.3% 3.6% 6.4%
Net margin −9.2% −1.3% 4.4% 12.8% 23.5%
Free-cash-flow margin −2.1% 1.3% 4.9% 9.7% 38.9%
Cash flow
Cash from operations −0.1 1.2 2.6 5.0 19.2
Capital spending 0.5 0.7 0.9 1.3 2.1
Free cash flow −0.6 0.4 1.7 3.7 17.1
Stock-based pay — — 0.2 0.3 0.3
Free cash flow after stock pay — — 1.5 3.5 16.8
Balance sheet
Cash 2.1 1.6 8.2 8.8 16.8
Total debt 0.0 0.1 0.1 0.4 2.8
Net debt (negative = net cash) −2.1 −1.4 −8.1 −8.5 −13.9
Diluted shares 274m 274m 278m 276m 271m
Returned to shareholders
Dividends — 0.0 0.0 0.3 0.5
Buybacks — 0.0 0.0 3.3 6.4
Total returned — 0.0 0.0 3.6 6.8

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 6 checks passed · September 30, 2026
What it owns · $86.2bn
Short-term assets $51.7bnLonger-term assets $34.5bn
What it owes, and who funded it · $85.1bn
Short-term liabilities $62.5bnLonger-term liabilities $11.2bnShareholders' equity $11.4bn
  • Short-term assets cover short-term liabilities $51.7bn of assets due within a year against $62.5bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $51.7bn short-term assets against $11.2bn of longer-dated liabilities.
  • More cash than debt $16.8bn of cash against $2.8bn of debt.
  • Debt below 40% of shareholders' equity Debt is 25% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $19.2bn of operating cash flow against $2.8bn of debt.
  • Operating profit covers interest at least five times over No material interest expense reported.

From GE Vernova's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$6.4B
Dividends (TTM)
$474M
Returned to shareholders
40%
of free cash flow
Buybacks, last 3 fiscal years
$3.4B
Diluted share count
−2.8%
year over year
Total shareholder yield
3.0%
dividends 0.2% + buybacks 2.8% of market value
Dividend payout ratio
5%
of net income paid out
R&D spending
3.1%
of revenue
Sales & admin spending
12.2%
of revenue

Competitors: side by side with peers

Closest by revenue in heavy electrical equipment
Last 12 months unless stated GEV GNRC SMR Median
Revenue, last 12 months $44.0bn $4.4bn $11m $4.4bn
Revenue growth, last 12 months 16.9% 0.6% −81.0% 0.6%
Revenue growth, 3-year average — 3.3% −15.8% −6.2%
Revenue growth, latest quarter 26.8% 10.6% −99.1% 10.6%
Gross margin 21.7% 39.5% 23.5% 23.5%
Operating margin 6.4% 9.5% <−999% 6.4%
Operating margin, 3-year average 3.4% 10.9% <−999% 3.4%
Net margin 23.5% 5.8% <−999% 5.8%
Cash from operations / revenue 43.6% 12.3% <−999% 12.3%
Free-cash-flow margin 38.9% 8.5% <−999% 8.5%
Free-cash-flow margin, 3-year average 17.8% 11.0% <−999% 11.0%
Stock pay / revenue 0.6% 1.1% 198.5% 1.1%
Change in share count −2.8% −0.8% 51.7% −0.8%

Median of all 3 companies we cover in heavy electrical equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

584 industrials companies
Measure Company Peer median Rank
Revenue growth Growth 16.9% 7.6% 151 of 581
Change in growth rate Growth +3.9pp +1.1pp 168 of 580
Gross margin Profitability 21.7% 28.6% 293 of 443
Operating margin Profitability 6.4% 5.5% 255 of 544
Net margin Profitability 23.5% 3.8% 27 of 582
Free-cash-flow margin Cash generation 38.9% 4.6% 11 of 579
Stock pay as % of revenue Cash generation 0.6% 0.9% 173 of 512
Long-term debt as % of assets Balance sheet 3.2% 22.6% 58 of 453
Change in share count Balance sheet -2.8% 0.0% 87 of 529

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Products $20.9B 55.0% ▲ 10.5%
Services $17.1B 45.0% ▲ 7.2%
Geography
Region Revenue Share YoY
Outside the US $20.7B 54.4% ▲ 2.3%
Europe $7.6B 36.6% ▼ 8.8%
Middle East and Africa $5.4B 26.0% ▲ 28.5%
Asia $4.6B 22.3% ▼ 1.5%
Americas Excluding U.S. $3.1B 15.0% ▲ 2.6%
United States $17.3B 45.6% ▲ 18.1%

From GE Vernova's 10-K filed January 29, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$248B
Institutions reporting
3,400
Shares held vs prior quarter
▲ 3.9%
Positions opened / closed
428 / 126

Top buyers and sellers, Q2 2026: 1,883 institutions bought and 1,112 sold ; the biggest buyer was Fisher Asset Management, LLC (+3.6M shares) and the biggest seller FMR LLC (−2.2M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $25.6B 21.8M 10.3% ▲ 5.0%
Vanguard Capital Management LLC $20.6B 17.6M 8.3% ▲ 0.2%
FMR LLC $19B 16.2M 7.6% ▼ 11.9%
State Street Corp $13.8B 11.8M 5.6% ▲ 3.3%
Geode Capital Management, LLC $7.4B 6.3M 3.0% ▼ 0.6%
Jpmorgan Chase & Co $6.9B 6.3M 2.8% ▼ 7.4%
Morgan Stanley $6.7B 5.7M 2.7% ▼ 10.3%
Capital World Investors $5.9B 5.0M 2.4% ▲ 17.5%
Vanguard Portfolio Management LLC $5.5B 4.7M 2.2% ▼ 1.5%
Fisher Asset Management, LLC $4.2B 3.6M 1.7% ▲ 90036.2%
Norges Bank $4B 3.4M 1.6% —
Goldman Sachs Group Inc $3.5B 2.9M 1.4% ▲ 41.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not GE Vernova's complete shareholder register. Values are as reported by the filers ; 12 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $11.5M 3 trades by 3 insiders · 0% under pre-set plans
Net ▼ $11.5M net selling
Insider Date Trade Shares Price Value
Abate Victor Chief Executive Officer, Wind June 1, 2026 Sell 4,819 $948.08 $4.6M
Potvin Matthew Joseph Chief Accounting Officer May 14, 2026 Sell 2,333 $1059.09 $2.5M
Baert Steven Chief People Officer March 3, 2026 Sell 5,300 $850.00 $4.5M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 16 trades and filings

In the last 12 months, 5 members of Congress disclosed 5 purchases and 2 sales of GE Vernova shares.

  • Matt Van Epps(R-TN 7):Sale (full), $1,001 - $15,000, traded June 16, 2026, filed June 17, 2026
  • Austin Scott(R-GA 8):Sale (full), $1,001 - $15,000, traded February 17, 2026, filed March 12, 2026
  • Josh Gottheimer(D-NJ 5):Purchase, $1,001 - $15,000, traded February 5, 2026, filed March 16, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 27, 2027 estimated from the company's past filing pattern, not announced

  • October 28, 2026
  • July 22, 2026
  • April 22, 2026
  • January 28, 2026
  • October 22, 2025
  • April 23, 2025

Recent SEC filings

Data status

When each part of this page on GE Vernova was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

GE Vernova in brief

What does GE Vernova do?
GE Vernova is a US-listed company in the heavy electrical equipment industry. Its financial year ends in December.
What is GE Vernova's stock ticker?
GE Vernova trades under the ticker GEV on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is GE Vernova's revenue, and how fast is it growing?
Over its most recent trailing twelve months, GE Vernova reported revenue of $44B, 16.9% higher than a year earlier, according to its SEC filings.
What is GE Vernova's free cash flow?
GE Vernova's free-cash-flow margin is 38.9% of revenue over the trailing twelve months, ranking 11 of the 579 industrials companies we cover.
What is GE Vernova's fair value (intrinsic value) per share?
Our discounted-cash-flow model of GE Vernova's free cash flow after stock-based pay gives ~$1100 per share in the base case, and ~$880–$1500 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are GE Vernova's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and FMR LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is GE Vernova buying back stock, and does it pay a dividend?
GE Vernova spent $6.4B on share repurchases over the trailing twelve months, and its diluted share count fell 2.8% over the year.
What is GE Vernova's market cap?
On November 2, 2026, GE Vernova's market capitalisation was about $234B, with a price-to-earnings ratio of 22.5 and net debt of -$13.9B. Market figures come from third-party market data and may be delayed.
Does GE Vernova pay a dividend?
Yes: GE Vernova paid $474M in dividends over the trailing twelve months, a dividend yield of 0.21% and a payout ratio of 4.6%.
How much debt does GE Vernova have?
GE Vernova's debt-to-equity ratio is 24.6%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are GE Vernova's competitors?
In our Heavy Electrical Equipment peer group, the companies closest to GE Vernova are Generac and Nuscale Power Corp. The side-by-side comparison below sets their revenue, margins and growth against GE Vernova's.
Are insiders buying or selling GE Vernova stock?
Over the last 12 months, GE Vernova's directors and officers reported 0 open-market purchases and 3 sales on Form 4. The insider trading page charts every trade.
When is GE Vernova's next earnings date?
Around January 27, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — GE Vernova announces its own schedule.