GE Vernova (GEV) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 22, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the GEV SEC filings page.
GE Vernova (GEV) reported $41.4B in revenue over the twelve months to Jun 30, 2026, up 13.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
GE Vernova's turnaround is becoming cash-generative, but reported FY2025 profit was amplified by a large tax benefit while near-term liabilities remained tight.
In FY2025, net income of$4.9B far exceeded operating income of$1.4B , with a large reported tax benefit helping explain the gap. Yet operating cash flow of$5.0B slightly exceeded net income, indicating that cash generation broadly supported the reported earnings.
The margin turnaround was operational rather than purely top-line: gross margin widened from
Working-capital tightness persisted despite lower reported leverage: the current ratio was 0.98x in FY2025, meaning current liabilities slightly exceeded current assets, while reported debt-to-equity fell from 4.3x in FY2024 to near zero. The business therefore became less debt-dependent without fully resolving short-term balance-sheet pressure.
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of GE Vernova's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
GE Vernova has an operating margin of 3.6%, meaning the company retains $4 of operating profit per $100 of revenue. This results in a moderate score of 32/100, indicating healthy but not exceptional operating efficiency. This is up from 1.4% the prior year.
GE Vernova's revenue grew 9.0% year-over-year to $38.1B, a solid pace of expansion. This earns a growth score of 57/100.
GE Vernova carries a low D/E ratio of 0.02, meaning only $0.02 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.
GE Vernova's current ratio of 0.98 is below the typical benchmark, resulting in a score of 18/100. This tight liquidity could limit financial flexibility if cash inflows slow.
GE Vernova has a free cash flow margin of 9.8%, earning a moderate score of 53/100. The company generates positive cash flow after capital investments, but with room for improvement.
GE Vernova's ROE of 43.7% shows moderate profitability relative to equity, earning a score of 30/100. This is up from 16.3% the prior year.
GE Vernova scores 3.91, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($263.3B) relative to total liabilities ($50.7B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
GE Vernova passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, GE Vernova generates $1.02 in operating cash flow ($5.0B OCF vs $4.9B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
GE Vernova generated $11.1B in revenue in Q2 2026. This represents an increase of 21.9% from the same quarter a year earlier. Against the prior quarter it is up 18.9%.
GE Vernova's EBITDA was $1.1B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 83.7% from the same quarter a year earlier. Against the prior quarter it is up 105.6%.
GE Vernova reported $668.0M in net income in Q2 2026. This represents an increase of 30.0% from the same quarter a year earlier. Against the prior quarter it is down 85.9%.
GE Vernova earned $2.47 per diluted share (EPS) in Q2 2026. This represents an increase of 32.8% from the same quarter a year earlier. Against the prior quarter it is down 85.8%.
Cash & Balance Sheet
GE Vernova generated $5.1B in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 2532.0% from the same quarter a year earlier. Against the prior quarter it is up 6.6%.
GE Vernova held $13.1B in cash against $2.8B in long-term debt as of Q2 2026, with $55.8B of liabilities due within a year.
GE Vernova paid $0.50 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.
Margins & Returns
GE Vernova's gross margin was 21.3% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 1.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.2 percentage points.
GE Vernova's operating margin was 5.9% in Q2 2026, reflecting core business profitability. This is up 1.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.0 percentage points.
GE Vernova's net profit margin was 6.0% in Q2 2026, showing the share of revenue converted to profit. This is up 0.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 44.8 percentage points.
GE Vernova's ROE was 5.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 28.5 percentage points.
Capital Allocation
GE Vernova invested $334.0M in research and development in Q2 2026. This represents an increase of 18.4% from the same quarter a year earlier. Against the prior quarter it is up 9.9%.
GE Vernova spent $2.4B on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 398.5% from the same quarter a year earlier. Against the prior quarter it is up 87.2%.
GE Vernova invested $386.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 123.1% from the same quarter a year earlier. Against the prior quarter it is down 2.8%.
GEV Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $11.1B+21.9% | $9.3B+16.3% | $11.0B+3.8% | $10.0B+11.8% | $9.1B+11.1% | $8.0B+10.6% | $10.6B+5.1% | $8.9B+8.0% |
| Cost of Revenue | $8.7B+20.3% | $7.6B+15.2% | $8.6B+2.4% | $8.1B+3.4% | $7.3B+11.8% | $6.6B+7.4% | $8.4B+1.1% | $7.8B+8.4% |
| Gross Profit | $2.4B+27.8% | $1.8B+21.2% | $2.3B+9.3% | $1.9B+71.1% | $1.8B+8.5% | $1.5B+27.8% | $2.1B+24.9% | $1.1B+5.5% |
| R&D Expenses | $334.0M+18.4% | $304.0M+27.2% | $366.0M+38.1% | $310.0M+27.6% | $282.0M+19.0% | $239.0M+0.8% | $265.0M+3.9% | $243.0M+9.0% |
| SG&A Expenses | $1.4B+15.8% | $1.3B+9.3% | $1.4B+7.0% | $1.2B-0.4% | $1.2B+26.3% | $1.2B-1.2% | $1.3B+1.1% | $1.2B+8.0% |
| Operating Income | $653.0M+72.8% | $179.0M+316.3% | $601.0M+1.5% | $366.0M+201.9% | $378.0M-28.3% | $43.0M+114.9% | $592.0M+205.2% | -$359.0M-16.9% |
| EBITDA | $1.1B+83.7% | $521.0M+110.1% | $831.0M-3.4% | $579.0M+1347.5% | $583.0M-25.4% | $248.0M+752.6% | $860.0M+92.4% | $40.0M+161.5% |
| Income Tax | $276.0M+80.4% | $354.0M+420.6% | -$2.6B-507.1% | $293.0M+1373.9% | $153.0M-52.5% | $68.0M+580.0% | $630.0M+416.4% | -$23.0M-113.6% |
| Net Income | $668.0M+30.0% | $4.7B+1768.1% | $3.7B+657.0% | $452.0M+570.8% | $514.0M-60.3% | $254.0M+295.4% | $484.0M+145.7% | -$96.0M+43.5% |
| EPS (Basic) | $2.49+31.7% | $17.65+1818.5% | $13.45+668.6% | $1.66+574.3% | $1.89-60.0% | $0.92+295.7% | $1.75+143.1% | -$0.35+43.5% |
| EPS (Diluted) | $2.47+32.8% | $17.44+1816.5% | $13.28+667.6% | $1.64+568.6% | $1.86-60.0% | $0.91+293.6% | $1.73+140.3% | -$0.35+43.5% |
| Diluted Shares (Avg) | 270M-2.2% | 272M-2.5% | N/A | 275M0.0% | 276M-0.7% | 279M+1.8% | N/A | 275M+0.4% |
Not reported in any period shown, so not listed: Interest Expense.
GEV Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $80.8B+52.2% | $75.6B+46.7% | $63.0B+22.4% | $54.4B+7.0% | $53.1B+10.5% | $51.6B+7.7% | $51.5B+11.6% | $50.9B |
| Current Assets | $47.4B+36.7% | $43.0B+26.6% | $40.2B+17.8% | $36.3B+9.5% | $34.7B+13.0% | $33.9B+16.0% | $34.2B+24.5% | $33.1B |
| Cash & Equivalents | $13.1B+66.2% | $10.2B+25.5% | $8.8B+7.8% | $7.9B+7.4% | $7.9B+36.6% | $8.1B+149.1% | $8.2B+429.0% | $7.4B+397.6% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $12.7B+29.2% | $11.9B+30.2% | $10.4B+21.5% | $10.0B+7.0% | $9.8B+5.1% | $9.2B+3.4% | $8.6B+4.0% | $9.4B |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $9.7B+114.0% | $9.9B+125.6% | $4.4B+4.1% | $4.3B-2.6% | $4.5B+4.0% | $4.4B-0.8% | $4.3B-3.9% | $4.4B |
| Total Liabilities | $67.7B+56.9% | $60.5B+44.5% | $50.7B+24.0% | $44.7B+10.7% | $43.1B+13.5% | $41.9B+10.5% | $40.9B+8.3% | $40.3B |
| Current Liabilities | $55.8B+65.4% | $48.1B+47.2% | $41.0B+29.3% | $35.3B+12.9% | $33.8B+16.2% | $32.7B+10.7% | $31.7B+8.1% | $31.2B |
| Non-Current Liabilities | $11.9B+26.5% | $12.5B+35.2% | $9.7B+5.9% | $9.4B+3.2% | $9.4B+4.8% | $9.2B+10.0% | $9.2B+9.2% | $9.1B |
| Long-Term Debt | $2.8B | $2.8B | $265.0M | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $12.0B+34.7% | $13.9B+61.8% | $11.2B+17.1% | $8.6B-9.0% | $8.9B-2.1% | $8.6B-4.1% | $9.5B+28.7% | $9.5B-9.1% |
| Retained Earnings | $11.3B+404.1% | $10.8B+477.1% | $6.2B+282.0% | $2.6B+119.2% | $2.2B+73.2% | $1.9B | $1.6B | $1.2B |
Not reported in any period shown, so not listed: Accounts Receivable.
GEV Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $5.5B+1396.5% | $5.2B+346.9% | $2.5B+169.2% | $980.0M-13.0% | $367.0M-62.5% | $1.2B+361.5% | $921.0M-52.3% | $1.1B+383.7% |
| Depreciation & Amortization | $418.0M+103.9% | $342.0M+66.8% | $230.0M-14.5% | $213.0M-46.6% | $205.0M-19.3% | $205.0M-18.3% | $269.0M+6.7% | $399.0M+64.9% |
| Capital Expenditures | $386.0M+123.1% | $397.0M+113.4% | $671.0M+91.7% | $247.0M+55.3% | $173.0M+10.2% | $186.0M-14.3% | $350.0M+25.0% | $159.0M-12.2% |
| Free Cash Flow | $5.1B+2532.0% | $4.8B+391.4% | $1.8B+216.6% | $733.0M-24.3% | $194.0M-76.4% | $975.0M+247.5% | $571.0M-65.4% | $968.0M+1761.5% |
| Investing Cash Flow | $229.0M+289.3% | -$4.3B-4514.0% | -$374.0M-113.7% | -$167.0M-46.5% | -$121.0M-122.5% | -$93.0M+67.4% | -$175.0M+31.9% | -$114.0M-216.7% |
| Financing Cash Flow | -$2.7B-354.1% | $442.0M+135.2% | -$1.2B-822.7% | -$774.0M-232.3% | -$604.0M-162.3% | -$1.3B-165.0% | $163.0M+115.3% | $585.0M+304.5% |
| Dividends Paid | $136.0M+94.3% | $137.0M+98.6% | $68.0M | $68.0M | $70.0M | $69.0M | $0 | $0 |
| Share Buybacks | $2.4B+398.5% | $1.3B+16.1% | $1.1B+35733.3% | $660.0M+1550.0% | $480.0M | $1.1B | $3.0M | $40.0M |
Not reported in any period shown, so not listed: Stock-Based Compensation.
GEV Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.3%+1.0pp | 19.1%+0.8pp | 21.2%+1.1pp | 19.0%+6.6pp | 20.3%-0.5pp | 18.3%+2.5pp | 20.1%+3.2pp | 12.4%-0.3pp |
| Operating Margin | 5.9%+1.7pp | 1.9%+1.4pp | 5.5%-0.1pp | 3.7%+7.7pp | 4.2%-2.3pp | 0.5%+4.5pp | 5.6%+3.7pp | -4.0%-0.3pp |
| Net Margin | 6.0%+0.4pp | 50.8%+47.6pp | 33.4%+28.9pp | 4.5%+5.6pp | 5.6%-10.1pp | 3.2%+5.0pp | 4.6%+2.6pp | -1.1%+1.0pp |
| Return on Equity | 5.6%-0.2pp | 34.1%+31.1pp | 32.8%+27.7pp | 5.2%+6.2pp | 5.8%-8.5pp | 2.9%+4.4pp | 5.1%+2.4pp | -1.0%+0.6pp |
| Return on Assets | 0.8%-0.1pp | 6.3%+5.8pp | 5.8%+4.9pp | 0.8%+1.0pp | 1.0%-1.7pp | 0.5%+0.8pp | 0.9%+0.5pp | -0.2% |
| Current Ratio | 0.85-0.2x | 0.89-0.1x | 0.98-0.1x | 1.030.0x | 1.030.0x | 1.040.0x | 1.08+0.1x | 1.06 |
| Debt-to-Equity | 0.23-4.6x | 0.20-4.7x | 0.02-4.3x | 5.17+0.9x | 4.86+0.7x | 4.87+0.6x | 4.28-0.8x | 4.24 |
| Asset Turnover | 0.140.0x | 0.120.0x | 0.170.0x | 0.180.0x | 0.170.0x | 0.160.0x | 0.210.0x | 0.18 |
| FCF Margin | 46.0%+43.9pp | 51.3%+39.2pp | 16.5%+11.1pp | 7.3%-3.5pp | 2.1%-7.9pp | 12.1%+21.2pp | 5.4%-11.0pp | 10.9%+10.2pp |
Note: The current ratio is below 1.0 (0.98), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| GE Vernova GEV | FY2025 | $38.1B | $4.9B | 12.8% | $263.3B | 48/100 |
| Eaton Corporation plc ETN | FY2025 | $27.4B | $4.1B | 14.9% | $169.4B | 39/100 |
| Parker-Hannifin Corporation PH | FY2026 | $21.5B | $3.6B | 17.0% | $122.7B | 64/100 |
| Emerson Electric Co. EMR | FY2025 | $18.0B | $2.3B | 12.7% | $90.1B | 36/100 |
| Illinois Tool Works Inc. ITW | FY2025 | $16.0B | $3.1B | 19.1% | $74.9B | 63/100 |
| Ametek, Inc. AME | FY2025 | $7.4B | $1.5B | 20.0% | $57.8B | 69/100 |
Where GE Vernova Ranks
Frequently Asked Questions
What is GE Vernova's annual revenue?
GE Vernova (GEV) reported $38.1B in total revenue for fiscal year 2025. This represents a 9.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is GE Vernova's revenue growing?
GE Vernova (GEV) revenue grew by 9.0% year-over-year, from $34.9B to $38.1B in fiscal year 2025.
Is GE Vernova profitable?
Yes, GE Vernova (GEV) reported a net income of $4.9B in fiscal year 2025, with a net profit margin of 12.8%.
What is GE Vernova's EBITDA?
GE Vernova (GEV) had EBITDA of $2.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does GE Vernova have?
As of fiscal year 2025, GE Vernova (GEV) had $8.8B in cash and equivalents against $265.0M in long-term debt.
What is GE Vernova's gross margin?
GE Vernova (GEV) had a gross margin of 19.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is GE Vernova's operating margin?
GE Vernova (GEV) had an operating margin of 3.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is GE Vernova's net profit margin?
GE Vernova (GEV) had a net profit margin of 12.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does GE Vernova pay dividends?
Yes, GE Vernova (GEV) paid $1.25 per share in dividends during fiscal year 2025.
What is GE Vernova's return on equity (ROE)?
GE Vernova (GEV) has a return on equity of 43.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is GE Vernova's free cash flow?
GE Vernova (GEV) generated $3.7B in free cash flow during fiscal year 2025. This represents a 118.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is GE Vernova's operating cash flow?
GE Vernova (GEV) generated $5.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are GE Vernova's total assets?
GE Vernova (GEV) had $63.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What are GE Vernova's capital expenditures?
GE Vernova (GEV) invested $1.3B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does GE Vernova spend on research and development?
GE Vernova (GEV) invested $1.2B in research and development during fiscal year 2025.
What is GE Vernova's current ratio?
GE Vernova (GEV) had a current ratio of 0.98 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is GE Vernova's debt-to-equity ratio?
GE Vernova (GEV) had a debt-to-equity ratio of 0.02 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is GE Vernova's return on assets (ROA)?
GE Vernova (GEV) had a return on assets of 7.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is GE Vernova's P/E ratio?
GE Vernova (GEV) trades at 27.6x earnings, its market capitalization divided by net income of $9.5B net income, trailing 12 months to June 30, 2026. The market capitalization is $263.3B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is GE Vernova's price-to-sales ratio?
GE Vernova (GEV) trades at 6.4x sales, its market capitalization divided by revenue of $41.4B revenue, trailing 12 months to June 30, 2026. The market capitalization is $263.3B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is GE Vernova's Altman Z-Score?
GE Vernova (GEV) has an Altman Z-Score of 3.91, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is GE Vernova's Piotroski F-Score?
GE Vernova (GEV) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are GE Vernova's earnings high quality?
GE Vernova (GEV) has an earnings quality ratio of 1.02x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is GE Vernova?
GE Vernova (GEV) scores 48 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.