GE Vernova Inc. (GEV) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$3.18	$2.47	-22.3%	—	$11.1B	—
Q1 26	$1.67	$2.01	+20.4%	—	$9.3B	—
Q4 25	$3.14	$12.9	+311.1%	—	$11B	—
Q3 25	$1.86	$1.64	-11.8%	—	$10B	—
Q2 25	$1.64	$1.86	+13.4%	—	$9.1B	—
Q1 25	$0.61	$0.91	+49.2%	—	$8B	—
Q4 24	$2.37	$1.33	-43.9%	—	$10.6B	—
Q3 24	$0.26	-$0.35	-234.6%	—	$8.9B	—
Q2 24	$0.74	$1.02	+37.8%	—	$8.2B	—
Q1 24	-$0.22	-$0.41	-86.4%	—	$7.3B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$17.9	—	—	$38.1B	—
FY24	—	$5.65	—	—	$34.9B	—
FY23	—	-$1.6	—	—	$33.2B	—
FY22	—	-$10.1	—	—	$29.7B	—
FY21	—	-$2.33	—	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY21	FY22	FY23	FY24	FY25
Revenue	$33B	$29.7B	$33.2B	$34.9B	$38.1B
YoY change	—	-10.2%	+12.1%	+5.1%	+8.97%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY21	FY22	FY23	FY24	FY25
Revenue	33B	29.7B	33.2B	34.9B	38.1B
Cost of revenue	28.1B	26.2B	28.4B	28.9B	30.5B
Gross profit	4.9B	3.5B	4.8B	6.1B	7.5B
Gross margin	15%	11.7%	14.5%	17.4%	19.8%
Research & development	1B	979M	896M	982M	1.2B
Selling, general & administrative	4.8B	5.4B	4.8B	4.6B	4.9B
Operating expenses	5.8B	6.3B	5.7B	5.6B	6.1B
Operating income	-884M	-2.9B	-923M	471M	1.4B
Operating margin	-2.68%	-9.72%	-2.78%	1.35%	3.65%
Non-operating income, net	121M	516M	828M	1.8B	984M
Pretax income	-864M	-2.5B	-130M	2.5B	2.8B
Income tax	-140M	248M	344M	939M	-2.1B
Net income	-724M	-2.7B	-474M	1.6B	4.9B
Net margin	-2.19%	-9.18%	-1.43%	4.46%	12.8%
EBITDA	580M	-595M	748M	501M	2.1B
EPS	-2.33	-10.1	-1.6	5.65	17.9
Diluted EPS	-2.33	-10.1	-1.6	5.58	17.7

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	8.3B	10B	7.3B	8.2B	8.9B	10.6B	8B	9.1B	10B	11B	9.3B	11.1B
Cost of revenue	7.2B	8.4B	6.1B	6.5B	7.8B	8.4B	6.6B	7.3B	8.1B	8.6B	7.6B	8.7B
Gross profit	1.1B	1.7B	1.1B	1.7B	1.1B	2.1B	1.5B	1.8B	1.9B	2.3B	1.8B	2.4B
Gross margin	12.7%	16.8%	15.8%	20.7%	12.4%	20.1%	18.3%	20.3%	19%	21.2%	19.1%	21.3%
Research & development	223M	255M	237M	237M	243M	265M	239M	282M	310M	365M	304M	334M
Selling, general & administrative	1.1B	1.3B	1.2B	938M	1.2B	1.3B	1.2B	1.2B	1.2B	1.4B	1.3B	1.4B
Operating expenses	1.4B	1.6B	1.4B	1.2B	1.5B	1.5B	1.4B	1.5B	1.5B	1.7B	1.6B	1.7B
Operating income	-307M	97M	-289M	527M	-360M	592M	43M	379M	367M	602M	179M	655M
Operating margin	-3.72%	0.97%	-3.98%	6.42%	-4.04%	5.61%	0.54%	4.16%	3.68%	5.49%	1.92%	5.9%
Non-operating income, net	290M	369M	208M	994M	180M	417M	218M	208M	245M	313M	4.6B	169M
Pretax income	-16M	409M	-96M	1.6B	-122M	1.1B	332M	645M	746M	1.1B	5.1B	925M
Income tax	169M	305M	10M	322M	-23M	629M	68M	153M	293M	-2.6B	354M	276M
Net income	-185M	104M	-106M	1.3B	-99M	484M	264M	492M	453M	3.7B	4.8B	649M
Net margin	-2.24%	1.04%	-1.46%	15.6%	-1.11%	4.58%	3.29%	5.4%	4.54%	33.5%	50.9%	5.84%
EBITDA	111M	669M	175M	-64M	24M	861M	225M	576M	553M	719M	-3.9B	1.1B
EPS	-0.62	—	-0.47	4.72	-0.35	1.75	0.92	1.89	1.66	13.6	17.6	2.49
Diluted EPS	-0.62	—	-0.47	4.65	-0.35	1.73	0.91	1.86	1.64	13.4	17.4	2.47

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	90.5B	177.8B	253B
Enterprise value	—	—	—	83.3B	169.6B	247.2B
Shares outstanding	272.1M	272.1M	274.1M	275M	272M	272M

Valuation

Metric	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	58	36.4	27.5
P/S	—	—	—	2.59	4.67	6.17
P/B	—	—	—	8.54	14.5	21.3
EV/EBITDA	—	—	—	166.3	81.9	63
EV/Sales	—	—	—	2.38	4.46	5.98
Earnings yield	—	—	—	1.72%	2.74%	3.64%
FCF yield	—	—	—	1.88%	2.09%	6.22%
PEG	—	—	—	—	—	0.87

Profitability

Metric	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	15%	11.7%	14.5%	17.4%	19.8%	21.3%
Operating margin	-2.68%	-9.72%	-2.78%	1.35%	3.65%	7.47%
Net margin	-2.19%	-9.18%	-1.43%	4.46%	12.8%	23%
ROE	—	-23.5%	-5.66%	14.7%	39.7%	82.6%
ROA	—	-6.12%	-1.03%	3.03%	7.74%	2.54%
ROIC	—	-27%	-11.6%	8.57%	33.4%	64.6%
Return on tangible assets	—	-8.05%	-1.35%	3.77%	9.26%	18.2%

Financial health

Metric	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	0.99	0.94	1.08	0.98	0.85
Quick ratio	—	0.74	0.69	0.83	0.75	0.64
Debt / equity	—	0.1	0.14	0.1	0.1	0.28
Debt / assets	—	0.03	0.03	0.02	0.02	0.03
Net debt / EBITDA	—	1.55	-0.53	-14.3	-3.93	6.6
Interest coverage	-4.02	-15.4	-0.33	—	—	—
Effective tax rate	0%	0%	0%	37.6%	0%	0%

Per share

Metric	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	121.3	109	121.3	127	140	153.8
EPS (basic)	-2.33	-10.1	-1.6	5.65	17.9	17.9
EPS (diluted)	-2.33	-10.1	-1.6	5.58	17.7	34.9
Book value per share	—	42.7	30.6	38.5	45.2	44.9
FCF per share	-8.22	-2.3	1.61	6.18	13.6	46.1
Cash per share	—	7.6	5.66	29.8	34.2	47.8
Capex per share	1.87	1.69	2.5	3.12	—	—

Capital allocation

Metric	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.54%	1.55%	2.06%	2.46%	—	—
Capex / operating cash flow	-37.3%	-4.2K%	31.6%	23.5%	—	—
Payout ratio	—	—	—	—	5.64%	5.73%
Dividend yield	—	—	—	—	0.15%	0.21%

Yield

0.21%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.50

ex-dividend Jun 16, 2026

Payout ratio

of earnings

Dividend growth

1 year

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jun 16, 2026	$0.50
Mar 17, 2026	$0.50
Jan 5, 2026	$0.50
Oct 20, 2025	$0.25
Jul 21, 2025	$0.25
Apr 17, 2025	$0.25
Dec 20, 2024	$0.25

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY22	FY23	FY24	FY25
Cash & short-term investments	2.1B	1.6B	8.2B	9.3B
Receivables	6.5B	6B	6.3B	7.9B
Inventory	6.7B	7.2B	7.8B	9.6B
Total current assets	25.9B	27.4B	34.2B	40.2B
Property, plant & equipment	5.1B	5.2B	5.2B	4.7B
Goodwill & intangibles	10.7B	11B	10.2B	10.3B
Total assets	44.5B	46.1B	51.5B	63B
Accounts payable	4.2B	4.7B	4.9B	5.7B
Short-term debt	296M	338M	223M	246M
Total current liabilities	26B	29.3B	31.7B	41B
Long-term debt	848M	819M	820M	926M
Total liabilities	32.9B	37.7B	40.9B	50.7B
Shareholders' equity	11.6B	8.4B	10.6B	12.3B
Total debt	1.1B	1.2B	1B	1.2B
Net debt	-923M	-394M	-7.2B	-7.7B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	1.6B	3.3B	5.8B	7.4B	8.2B	8.1B	7.9B	7.9B	9.3B	10.2B	13.1B
Receivables	6B	5.6B	5B	6B	6.3B	5.4B	5.4B	5.7B	7.9B	7.4B	8.8B
Inventory	7.2B	7.7B	8.1B	8.3B	7.8B	8.5B	9B	9.2B	9.6B	11.1B	12B
Total current assets	27.4B	29.2B	30.7B	33.1B	34.2B	33.9B	34.7B	36.3B	40.2B	43B	47.4B
Property, plant & equipment	5.2B	5.2B	5.2B	5.1B	5.2B	5.2B	5.4B	5.6B	4.7B	7.1B	7.4B
Goodwill & intangibles	11B	10.8B	10.6B	10.6B	10.2B	10.3B	10.5B	10.1B	10.3B	28.8B	28.4B
Total assets	46.1B	47.9B	48.1B	50.9B	51.5B	51.6B	53.1B	54.4B	63B	75.6B	80.8B
Accounts payable	4.7B	4.3B	4.7B	5.4B	4.9B	5.2B	5.8B	5.9B	5.7B	6.3B	6.6B
Short-term debt	338M	—	—	—	223M	—	—	—	246M	—	—
Total current liabilities	29.3B	29.5B	29.1B	31.2B	31.7B	32.7B	33.8B	35.3B	41B	48.1B	55.8B
Long-term debt	819M	—	—	—	820M	—	—	—	926M	2.8B	2.8B
Total liabilities	37.7B	37.9B	38B	40.3B	40.9B	41.9B	43.1B	44.7B	50.7B	60.5B	67.7B
Shareholders' equity	8.4B	10B	10B	10.5B	10.6B	9.7B	9.9B	9.7B	12.3B	15.1B	13.1B
Total debt	1.2B	—	—	—	1B	—	—	—	1.2B	2.8B	2.8B
Net debt	-394M	—	—	—	-7.2B	—	—	—	-7.7B	-7.4B	-10.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY21	FY22	FY23	FY24	FY25
Net income	-724M	-2.7B	-474M	1.6B	4.9B
Depreciation & amortization	1.2B	1.8B	964M	1.2B	853M
Stock-based compensation	—	—	—	—	—
Change in working capital	-1.5B	455M	1.2B	1.5B	4.1B
Operating cash flow	-1.4B	-11M	2.2B	3.6B	5B
Capital expenditure	-508M	-460M	-684M	-858M	—
Investing cash flow	-1.1B	-322M	-734M	-37M	483M
Dividends paid	—	—	—	—	-275M
Share repurchases	—	—	—	—	-3.3B
Financing cash flow	2B	811M	-408M	3.7B	-3.8B
Net change in cash	-506M	478M	1B	7.3B	1.7B
Free cash flow	-2.2B	-627M	442M	1.7B	3.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-185M	206M	-106M	1.3B	-99M	484M	264M	492M	453M	3.7B	4.8B	648M
Depreciation & amortization	242M	252M	251M	254M	398M	269M	205M	205M	213M	230M	342M	417M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	38M	1.3B	-105M	776M	597M	250M	1.3B	96M	-82M	2.3B	4.8B	5.9B
Operating cash flow	466M	2.1B	63M	1.2B	1.3B	1.1B	1.6B	47M	980M	2.5B	5.2B	5.5B
Capital expenditure	-171M	-274M	-213M	-148M	-156M	-341M	-152M	-173M	—	—	—	—
Investing cash flow	-36M	-257M	-285M	537M	-114M	-175M	-93M	-121M	81M	291M	-4.1B	591M
Dividends paid	—	—	—	—	—	—	-69M	-70M	-68M	-68M	-137M	-136M
Share repurchases	—	—	—	—	—	—	-1.1B	-480M	-660M	-1.1B	-1.3B	-2.4B
Financing cash flow	-286M	-1.1B	1.9B	970M	585M	163M	-1.3B	-604M	-774M	-1.2B	442M	-2.7B
Net change in cash	144M	742M	1.7B	2.7B	1.7B	1.1B	213M	-678M	287M	1.6B	1.6B	3.3B
Free cash flow	52M	1.7B	-661M	822M	968M	571M	975M	194M	733M	1.8B	4.8B	5.1B

GE Vernova Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement