GE Vernova Inc.GEVNYSE

Overview Intelligence Charts News Fundamentals Key Metrics Earnings Growth Financials Insiders

Revenue (LTM)

$38.1B

+8.9% YoY

Net Income (LTM)

$4.9B

+214.7% YoY

Free Cash Flow

$3.7B

Revenue CAGR (5Y)

+3.6%

Marginsimproving

FCF$3.7B

Profitable

Watch on earnings:Equipment orders and backlog by segment (particularly gas turbine units and offshore wind GW)Power segment services revenue growth and EBITDA margins (target mid-teens margins)Wind segment EBITDA margins and path to profitability (currently negative, targeting breakeven then positive)Free cash flow generation and working capital as % of revenueElectrification orders tied to grid modernization spending

Key metrics:Natural gas prices (Henry Hub) as proxy for gas turbine dispatch economics and new capacity additions · US electricity demand growth rate, particularly from data centers (track hyperscaler capex: MSFT, GOOGL, META, AMZN) · Offshore wind PPA pricing and project FIDs in US Atlantic, European North Sea markets · IRA Production Tax Credit (PTC) and Investment Tax Credit (ITC) utilization rates and policy stability

Income Statement

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Revenue	33,006	29,654↓10.2%	33,239↑12.1%	34,943↑5.1%	38,068↑8.9%
Gross Profit	4,945	3,458↓30.1%	4,818↑39.3%	6,309↑30.9%	7,535↑19.4%
Operating Income	-884	-2,881↓225.9%	-923↑68.0%	787↑185.3%	1,388↑76.4%
Net Income	-633	-2,736↓332.2%	-438↑84.0%	1,552↑454.3%	4,884↑214.7%
EBITDA	484	-526↓208.7%	932↑277.2%	3,562↑282.2%	3,681↑3.3%
EPS Diluted	-2.33	-10.06↓331.8%	-1.61↑84.0%	5.58↑446.6%	17.69↑217.0%

Balance Sheet

⚠ Current ratio of 0.98 indicates tight liquidity and working capital management challenges typical of project-based businesses

Metric	Dec 22	Dec 23	Dec 24	Dec 25
Cash & Equivalents	2,067	1,551↓25.0%	8,205↑429.0%	8,848↑7.8%
Total Current Assets	25,901	27,428↑5.9%	34,153↑24.5%	40,216↑17.8%
Total Assets	44,471	46,121↑3.7%	51,485↑11.6%	63,016↑22.4%
Total Current Liabilities	26,042	29,306↑12.5%	31,685↑8.1%	40,972↑29.3%
Total Liabilities	32,864	37,741↑14.8%	40,892↑8.3%	50,721↑24.0%
Total Equity	10,650	7,416↓30.4%	9,546↑28.7%	11,178↑17.1%
Total Debt	1,656	1,709↑3.2%	1,623↓5.0%	0
Net Debt	-411	158↑138.4%	-6,582↓4265.8%	-8,848↓34.4%

Cash Flow Statement

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Operating Cash Flow	-1,660	-114↑93.1%	1,186↑1140.4%	2,583↑117.8%	4,988↑93.1%
Capital Expenditure	-577	-513↑11.1%	-744↓45.0%	-883↓18.7%	-1,277↓44.6%
Free Cash Flow	-2,237	-627↑72.0%	442↑170.5%	1,700↑284.6%	3,711↑118.3%
Stock-Based Comp	0	0	0	0	0
Net Change in Cash	-871	2,067↑337.3%	-516↓125.0%	6,051↑1272.7%	643↓89.4%

Values in millions except EPS · Ratios shown as percentages · Click any metric to drill down

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