GEV

GE Vernova Inc.

TechnologyCIK 0001996810

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Market Cap
$221.10B
P/E (TTM)
23.6x
Rev Growth (TTM)
+10.3%
Net Margin (TTM)
23.8%
FCF Yield (TTM)
3.4%
FCF Margin (TTM)
19.1%

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LATEST EARNINGS

Q1 2026
2 months ago
View source
Revenue
$9.34B
+16.3%
Net Income
$4.75B
+1699.2%
EPS
$17.44
+1816.5%
Net
50.9% +47.6%
  • Orders increased 71% organically to $18.3B, with growth in all segments, indicating strong demand.
  • Revenue grew 16% to $9.3B (+7% organically), led by equipment at Electrification and Power.
  • Adjusted EBITDA nearly doubled year-over-year to $0.9B, with margin expanding 390 bps to 9.6%.
  • Cash from operating activities was $5.2B and free cash flow was $4.8B, more than quadrupling year-over-year.

Cash Flow Health

Free Cash Flow8/8 positive
TTM$7.5B
Q1 '26
$4.8B+165%
Q4 '25
$1.8B+147%
FCF Margin
TTM19.1%
Q1 '2651.3%+211%
Sector: 8.5%Above Avg
OCF Margin22.9%
OCF/NI0.96x
CapEx Coverage6.1x
FCF Yield3.4%
FCF Growth (2Y)
Cash Conversion Cycle
193 days
DSO: 75+DIO: 118DPO: 0

Capital Allocation & Returns

Growth Focused
Total Shareholder YieldTTM
TTM1.7%
Div Yield0.2%
+
Buyback (TTM)1.6%

Prioritizing reinvestment over distributions

Dividend & Payout Metrics
Dividend Yield (TTM)0.2%
FCF Payout Ratio4.6%
Free Cash Flow (TTM)$7.5B
Stock Repurchases (TTM)$3.5B
Capital Return / FCF51.0%
Est. Dividends Paid (TTM)$343.0M
Shows how management rewards shareholders

Operational Efficiency & Returns

Return on Invested CapitalTTM
7.4%
Moderate
+0.1% YoY+5.1%
P25MedianP75
75th pctl (med: 0.0%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
4.8%
8Q: 2.7%
Asset Turnover
0.67x
8Q: 0.71x
Leverage (1+D/E)
1.21x
D/E: 0.21x
DuPont: 3.9%7.4% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
2.14x
8Q:2.06x
+49.9%
Invested Cap Turn
1.56x
8Q:1.44x
+36.9%
CapEx Intensity
5.9%
8Q:3.5%
CapEx/Depreciation
1.50x
Asset-based ROIC formula

Valuation Analysis

Fair Value
Price-to-EarningsTTM
23.6x
Volatile
8Q: 118.4x+37040%
Valuation Lenses
Earnings
23.6x
vs sector
Cash Flow
28.3x
EV/FCF vs
Growth-Adj
0.1xPEG
Undervalued for growth
Quality-Adj
3.2P/E per %ROIC
ROIC: 7.4%
Shareholder Returns
Dividend
0.2%
Buyback
1.6%
Total Yield
1.7%
Market Cap$221.10B
EV$213.09B
Multi-angle valuation analysis with sector context

Business Quality & Moat

Overall Quality Score
91/100
Exceptional

Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)

Returns on Capital

Return on Equity (ROE)Top 10%
93.8%
8Q:
Return on Invested Capital (ROIC)Top 25%
7.4%
8Q:
+5.1%
vs Sector:0.0%

DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)

NOPAT Margin: 4.8%
Asset Turnover: 0.67x

Earnings Quality

Cash Conversion

0.96x

OCF / Net Income

FCF Consistency

Positive quarters

Competitive Moat Indicators

Pricing Power

Gross Margin19.9%

Capital Efficiency

Invested Capital Turnover1.56x

Working Capital

Cash Conversion Cycle193 days

Growth Quality & Momentum

Moderate Growth
Growth Quality Score
60/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%

Growth Rates

Revenue Growth YoY
10.3%
OpInc Growth YoY
316.3%
EPS Growth YoY
391.7%
FCF 3Y CAGR
N/A

Margin Quality & Sustainability

Moderate
Profitability Cascade
Gross
19.9%
Operating
3.9%
Below Avg in sector
Net
23.8%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
FCF vs Net Gap
-4.7 pts
FCF: 19.1% | Net: 23.8%

Quality = stability + cash conversion + low dilution

Balance Sheet & Solvency

Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $7.32B
Interest Coverage
+Net cash position: $7.32B
Leverage Metrics
Debt-to-Equity
0.21x
Balance sheet risk & solvency analysis