GE Vernova Inc.GEV
GE Vernova Inc. Financial Overview 2024–2025
Updated Jul 10, 2026GE Vernova more than tripled its net income to $4.9 billion in FY2025, proving its recent separation unlocked immediate operational leverage. The company has successfully pivoted from legacy restructuring to capturing high-margin decarbonization demand, cementing its footing as a standalone entity. Anchoring this structural shift, total revenues grew from $34.9 billion in FY2024 to $38.1 billion in FY2025, fueled by a surge in global grid equipment orders.
The underlying segment data reveals aggressive profitability gains. The Electrification division led the charge, boosting revenue by 28% in FY2025 while nearly doubling its EBITDA margin to 14.9%. This operational discipline generated $3.7 billion in free cash flow, empowering the company to execute $2.2 billion in share repurchases during the year. By the close of FY2025, the market heavily rewarded this execution, pricing the stock at $653.57 with a 36.9x P/E ratio and a $176.2 billion market cap.
This momentum accelerated directly into Q1 2026, where remaining performance obligations (RPO) ballooned to $163.3 billion—a substantial leap from the $119 billion recorded at the end of FY2024. Additionally, the $5.3 billion acquisition of Prolec GE closed in early 2026, instantly injecting a one-time $4.0 billion pre-tax gain and driving the quarter's net income margin to 50.9%. Backed by an expanded $10 billion share repurchase authorization and a massive $5.2 billion in quarterly operating cash flow, the company is efficiently converting its multi-year backlog into tangible shareholder returns.
Recent Developments (Q4 2025 and Q1 2026)
GE Vernova generated $9.3 billion in Q1 2026 revenue, achieving a 16% year-over-year expansion from $8.0 billion in Q1 2025. Total segment EBITDA climbed 67% to $958 million, aided by robust operations and a $330 million gain from the sale of the Proficy business. The company executed $1.3 billion in stock repurchases during the quarter, supported by $4.8 billion in free cash flow. To optimize its capital structure, the firm issued $2.6 billion in senior unsecured notes. Leadership also transitioned, with Eric Gray replacing Mavi Zingoni as CEO of the Power Segment in January 2026.
Bulls argue that surging top-line growth and massive free cash flow generation prove the core operations possess sustained momentum. Bears caution that the Wind segment continues to suffer significant EBITDA losses, and the stock is richly valued at 63.7x earnings with a $303.9 billion market cap as of April 22, 2026.
What to watch: Wind segment profitability improvements; Eric Gray's strategic shifts in the Power Segment.
Rev
$38.07B
FY2025
NI
$4.88B
FY2025
EPS
$17.92
FY2025
OCF
$4.99B
FY2025
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
All GEV Financial Metrics(52)
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Recent SEC Filings
GE Vernova Inc. 8-K Report, Executive Changes (Aug 27, 2026)
GE Vernova Inc. (GEV) announced a leadership transition in its finance department via an 8-K filing on August 27, 2026. Chief Financial Officer Kenneth Parks will retire on April 2, 2027, after a crucial period of guidance during the company's spin-off and initial operations. Mr. Parks will serve as a strategic advisor to CEO Scott Strazik until his retirement, ensuring a smooth handover. Claire McDonough will assume the role of CFO, effective January 1, 2027, and will join as a strategic advisor starting November 1, 2026. Ms. McDonough brings extensive financial experience from her tenure as CFO of Rivian Automotive and previous roles at J.P. Morgan. Her compensation package includes a significant base salary, annual incentive opportunity, and substantial long-term equity awards, including make-whole provisions for forfeited compensation from her prior employer. This transition signals continuity and a continued focus on financial leadership for GE Vernova.
GE Vernova Inc. 8-K Report, Financial Results (Jul 22, 2026)
GE Vernova Inc. (GEV) announced its second-quarter 2026 financial results on July 22, 2026. The company released its performance data through its investor relations website, with detailed information incorporated by reference from Exhibit 99 of the filing. Investors should note that this information is being furnished and is not considered "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, meaning it doesn't carry the same legal liabilities. While the filing itself does not provide the specific financial figures, it directs investors to the comprehensive second-quarter results available on the GE Vernova investor relations portal. Investors seeking to understand the company's performance, profitability, and outlook for the remainder of 2026 should consult the referenced press release and accompanying financial statements for detailed metrics such as revenue, earnings per share, segment performance, and guidance updates.
GE Vernova Inc. 8-K Report, Shareholder Vote Results (May 22, 2026)
GE Vernova Inc. (GEV) filed an 8-K on May 22, 2026, reporting the results of its annual meeting of stockholders held on May 20, 2026. The key outcomes include the election of three Class II directors, the advisory approval of executive compensation, and the ratification of Deloitte & Touche LLP as the independent auditor for fiscal year 2026. The company's management and board can take comfort from the strong shareholder support for these routine corporate governance matters. Notably, a shareholder proposal requesting a report assessing sustainability goals based on net-present-value and return-on-investment calculations was not approved. This outcome suggests that, at this time, a majority of shareholders do not wish to mandate such a specific reporting framework for sustainability initiatives, though it does not negate the company's ongoing commitment to sustainability itself. Investors should monitor GE Vernova's continued disclosures on its sustainability performance and strategy.
GE Vernova Inc. 8-K Report, Financial Results (Apr 22, 2026)
GE Vernova Inc. (GEV) has filed a Current Report on Form 8-K on April 22, 2026, to announce the release of its first-quarter 2026 financial results. The detailed results are available on the company's investor relations website and have been furnished as an exhibit to this filing. Investors should refer to the company's website for the complete financial information and analysis. This filing primarily serves as notification of the earnings release and directs investors to the comprehensive financial data presented elsewhere. While specific financial metrics are not detailed within the 8-K itself, the attached exhibit contains the company's performance for the first quarter of 2026, which will be crucial for understanding GE Vernova's operational and financial standing.
GE Vernova Inc. 8-K Report, Corporate Update (Feb 4, 2026)
GE Vernova Inc. (GEV) announced the successful completion of a significant public offering of senior unsecured notes totaling $2.6 billion. This offering comprises three tranches with varying maturities and interest rates: $600 million of 4.250% Senior Notes due 2031, $1 billion of 4.875% Senior Notes due 2036, and $1 billion of 5.500% Senior Notes due 2056. The proceeds from this issuance are earmarked for general corporate purposes and, notably, to fund a portion of the acquisition of the remaining 50% stake in Prolec GE, which closed shortly before this offering. This debt issuance signifies GE Vernova's strategic moves to strengthen its financial position and support key growth initiatives. The dual purpose of the funding, covering both general operations and a significant acquisition, indicates management's confidence in future cash flows and strategic direction. Investors should note the fixed interest rates and maturities, which provide predictability for the company's debt servicing obligations and offer investors different yield and duration profiles.
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