GEV

GE Vernova Inc.

Technology • CIK: 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%

LATEST EARNINGS

Q1 2026
26 days 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
TTM1.8%
Div Yield0.2%
+
Buyback (TTM)1.6%

Prioritizing reinvestment over distributions

Dividend & Payout Metrics
Dividend Yield (TTM)0.2%
FCF Payout Ratio6.3%
Free Cash Flow (TTM)$7.5B
Stock Repurchases (TTM)$3.5B
Capital Return / FCF51.0%
Est. Dividends Paid (TTM)$473.4M
Shows how management rewards shareholders

Operational Efficiency & Returns

Return on Invested CapitalTTM
7.4%
Moderate
+0.1% YoY+15.1%
P25MedianP75
75th pctl (med: 0.0%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
4.8%
8Q: 2.3%
Asset Turnover
0.67x
8Q: 0.71x
Leverage (1+D/E)
1.20x
D/E: 0.20x
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
2.35x
Asset-based ROIC formula

QUARTERLY TRENDS

Last 8 quarters + TTM

MetricTTMQ1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024
Revenue
$39.4B
$9.3B14.8%
$11.0B9.9%
$10.0B9.4%
$9.1B13.4%
$8.0B23.9%
$10.6B18.5%
$8.9B8.6%
$8.2B
Operating Income
$1.5B
$179.0M70.2%
$601.0M64.2%
$366.0M3.2%
$378.0M779.1%
$43.0M92.7%
$593.0M265.2%
$-359.0M168.1%
$527.0M
Net Income
$9.4B
$4.7B29.5%
$3.7B710.6%
$452.0M12.1%
$514.0M102.4%
$254.0M47.5%
$484.0M604.2%
$-96.0M107.4%
$1.3B
Operating Cash Flow
$9.0B
$5.2B109.3%
$2.5B153.0%
$980.0M167.0%
$367.0M68.4%
$1.2B26.1%
$921.0M18.3%
$1.1B15.1%
$979.0M
Free Cash Flow
$7.5B
$4.8B165.0%
$1.8B146.7%
$733.0M277.8%
$194.0M80.1%
$975.0M70.8%
$571.0M41.0%
$968.0M17.8%
$822.0M
Total Equity
N/A

Valuation Analysis

Fair Value
Price-to-EarningsTTM
23.6x
Volatile
8Q: 118.3x+37091%
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
1.8%
Market Cap$221.10B
EV$213.08B
Multi-angle valuation analysis with sector context

Business Quality & Moat

Overall Quality Score
80/100
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:
+15.1%
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
393.1%
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: $7.37B
Interest Coverage
+Net cash position: $7.37B
Leverage Metrics
Debt-to-Equity
0.20x
Balance sheet risk & solvency analysis