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
Recent SEC Filings
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.
GE Vernova Inc. 8-K Report, Financial Results (Jan 28, 2026)
GE Vernova Inc. (GEV) has filed a Form 8-K to announce the release of its fourth-quarter and full-year 2025 financial results, which were made available on its investor relations website on January 28, 2026. While the specific financial performance details are not included within the 8-K itself, the filing indicates that the complete results and accompanying materials are accessible via the company's investor relations portal. Investors should refer to the press release and associated financial statements attached as Exhibit 99 for comprehensive information regarding revenue, profitability, segment performance, and forward-looking guidance. This filing serves as notification of the earnings release, and the detailed financial information will provide critical insights into GE Vernova's operational performance, strategic execution, and outlook for the upcoming fiscal year. Investors are encouraged to review the furnished materials to understand the company's financial health and assess its investment potential.
GE Vernova Inc. 8-K Report, Executive Changes (Jan 21, 2026)
GE Vernova Inc. (GEV) has announced a significant leadership change within its Power Segment. Mavi Zingoni will be stepping down as Chief Executive Officer of the Power Segment, effective January 21, 2026. Ms. Zingoni will transition into an advisory role to ensure a smooth handover, with her departure from the company scheduled for June 30, 2026. This change represents a shift in leadership for a critical segment of GE Vernova's operations, and investors will be keen to understand the implications for the segment's strategic direction and performance under new leadership.
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