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GE Vernova Inc., an energy company, engages in the provision of various products and services that generate, transfer, orchestrate, convert, and store electricity in the United States, Europe, Asia, the Middle East, and Africa. The company operates through three segments: Power, Wind, and Electrification. The Power segment designs, manufactures, and services gas, nuclear, hydro, and steam technologies. It serves industrial, government, and other customers. The Wind segment offers wind generation technologies, including onshore and offshore wind turbines and blades. The Electrification segment provides grid solutions; power conversion; electrification software; and solar and storage solutions technologies required for the transmission, distribution, conversion, storage, and orchestration of electricity from point of generation to point of consumption. The company was incorporated in 2023 and is headquartered in Cambridge, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $38.1B | $2.2B | $4.9B | $3.7B | 43.7% | 9.0% | 214.7% |
| 2024 | $34.9B | $1.6B | $1.6B | $1.7B | 16.3% | 5.1% | -454.3% |
| 2023 | $33.2B | $932M | $-438M | $442M | -5.9% | 12.1% | -84.0% |
| 2022 | $29.7B | $-526M | $-2.7B | $-627M | -25.7% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 29,654 | 33,239 | 34,935 | 38,068 |
| Cost Of Revenue | - | 26,196 | 28,421 | 28,850 | 30,533 |
| Gross Profit | - | 3,458 | 4,818 | 6,085 | 7,535 |
| Operating Expense | - | 6,339 | 5,741 | 5,614 | 6,146 |
| Operating Income | - | -2,881 | -923 | 471 | 1,389 |
| EBITDA | - | -526 | 932 | 1,643 | 2,242 |
| EBIT | - | -2,323 | -32 | 471 | 1,389 |
| Pretax Income | - | -2,474 | -130 | 2,498 | 2,828 |
| Tax Provision | - | 248 | 344 | 939 | -2,051 |
| Net Income | - | -2,736 | -438 | 1,552 | 4,884 |
| Net Income Common Stockholders | - | -2,736 | -438 | 1,552 | 4,884 |
| Total Expenses | - | 32,535 | 34,162 | 34,464 | 36,679 |
| Interest Expense | 172 | 151 | 98 | - | - |
| Interest Income | - | 42 | 63 | 186 | 455 |
| Research And Development | - | 979 | 896 | 982 | 1,197 |
| Selling General And Administration | - | 5,360 | 4,845 | 4,632 | 4,949 |
| Normalized EBITDA | - | -595 | 748 | 501 | 2,071 |
| Normalized Income | - | -2,790.51 | -583.36 | 839.39 | 4,748.91 |
| Market Cap | 308,810 | 308,810 | 308,810 | 308,810 | 308,810 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| GE Vernova Inc.this co. | GEV | - | 63.23↑ premium | 27.63 | 43.7% | 134.31 |
| Textron Inc. | TXT | $15.8B | 16.63 | 1.94 | 11.7% | 10.32 |
| IDEX Corporation | IEX | $15.4B | 31.50 | 3.78 | 12.0% | 18.25 |
| Jacobs Solutions Inc. | J | $15.3B | 51.39 | 4.08 | 7.9% | 17.63 |
| Masco Corporation | MAS | $15.2B | 18.47 | -80.46 |
| - |
| - |
| - |
| - |
| - |
| -435.5% |
| 12.67 |
| Pentair plc | PNR | $15.0B | 22.91 | 3.87 | 16.9% | 17.64 |
| Huntington Ingalls Industries, Inc. | HII | $14.1B | 23.38 | 2.79 | 11.9% | 13.46 |
| Generac Holdings Inc. | GNRC | $12.9B | 81.25 | 4.92 | 6.1% | 30.39 |
| Stanley Black & Decker, Inc. | SWK | $11.6B | 29.61 | 1.31 | 4.4% | 12.18 |
| Peer Median | - | 26.50 | 3.28 | 9.8% | 15.55 | |