GE Vernova

Industrials Heavy Electrical Equipment Cambridge, Massachusetts Last filing Jan 29, 2026 · FY2025

                    Revenue
                    FY2025
                
$38.1B
                    3y CAGR +8.7%
                    
                    P73
                    
                    +9.0%
                    
                    Net income
                    FY2025
                
$4.9B
                    Net margin +12.8%
                    
                    P50
                    
                    +214.7%
                    
                    Total assets
                    FY2025
                
$63.0B
                    ROA +7.8%
                    
                    P46
                    
                    +22.4%
                    
                    Operating cash flow
                    FY2025
                
$5.0B
                    FCF margin +9.7%
                    
                    P39
                    
                    +93.1%

4 yrs · FY2022–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

27 accounts · 4 years

Total assets $63.0B

Total liabilities $50.7B

Shareholders equity $11.2B

Account	2025	2024	2023	2022
Assets
Cash and Cash Equivalents	14.0%	15.9%	3.4%	—
Accounts Receivable	15.6%	15.9%	—	—
Inventory	16.5%	16.7%	17.9%	—
Other Current Assets	17.7%	17.8%	22.0%	—
Total Current Assets	63.8%	66.3%	59.5%	—
Property,Plant and Equipment	9.5%	10.0%	11.3%	—
Goodwill	7.0%	8.3%	9.6%	—
Intangible Assets	1.2%	1.6%	2.3%	—
Long Term Investments	2.9%	4.2%	7.7%	—
Deferred Tax Assets	8.4%	3.2%	3.4%	—
Other Noncurrent Assets	7.1%	6.4%	6.2%	—
Total Assets	100.0%	100.0%	100.0%	—
Liabilities
Accounts Payable	14.0%	16.7%	—	—
Deferred Revenue	40.9%	34.2%	32.7%	—
Other Current Liabilities	10.1%	10.7%	12.6%	—
Total Current Liabilities	65.0%	61.5%	63.5%	—
Deferred Tax Liabilities	1.8%	1.6%	0.8%	—
Other Noncurrent Liabilities	13.6%	16.3%	17.5%	—
Total Liabilities	80.5%	79.4%	81.8%	—
Equity
Common Stock	0.0%	0.0%	0.0%	—
Additional Paid In Capital	15.6%	18.9%	0.0%	—
Retained Earnings	9.8%	3.1%	0.0%	—
Treasury Stock	5.4%	0.1%	0.0%	—
Accumulated Other Comprehensive Income	-2.2%	-3.4%	-1.4%	—
Total Stockholders Equity	17.7%	18.5%	16.1%	—
Noncontrolling Interest	1.8%	2.0%	2.1%	—
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	—

Income Statement

Revenue, expense, and profitability

15 accounts · 4 years

Revenue $38.1B

Operating income $1.4B

Net income $4.9B

Account	2025	2024	2023	2022
IncomeStatement
Revenues Total Revenue	60.4%	67.9%	72.1%	—
Expenses Cost of Revenue	48.5%	56.0%	61.6%	—
Other Income Expense Gross Profit	12.0%	11.8%	10.4%	—
Expenses Research and Development	1.9%	1.9%	1.9%	—
Expenses Selling,General and Administrative	7.9%	9.0%	10.5%	—
Other Income Expense Operating Income	2.2%	0.9%	-2.0%	—
Other Income Expense Other Income/expense	2.0%	3.7%	1.9%	—
Other Income Expense Income Before Tax	4.5%	4.9%	-0.3%	—
Income Tax Income Tax Expense	-3.3%	1.8%	0.7%	—
net Income Other Items Below Tax	0.3%	0.2%	-0.1%	—
net Income net Income	7.8%	3.0%	-0.9%	—
net Income Comprehensive Income	8.3%	0.8%	0.8%	—
Earnings Per Share Basic Eps	0.0%	0.0%	-0.0%	—
Earnings Per Share Diluted Eps	0.0%	0.0%	-0.0%	—
Earnings Per Share Weighted Average Shares Diluted	0.4%	0.5%	0.6%	—

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 4 years

Operating cash flow $5.0B

Investing cash flow $-755.0M

Financing cash flow $-3.8B

Account	2025	2024	2023	2022
CashFlow
Operating Activities net Income	7.7%	3.0%	-1.0%	—
Operating Activities Depreciation and Amortization	1.4%	2.3%	2.1%	—
Operating Activities Deferred Income Taxes	-3.3%	1.8%	0.7%	—
Operating Activities Changes In Operating Assets and Liabilities	6.5%	2.2%	2.5%	—
Operating Activities Other Non Cash Items	-4.4%	-4.3%	-1.7%	—
Operating Activities net Cash From Operating Activities	7.9%	5.0%	2.6%	—
Investing Activities Capital Expenditures	-2.0%	-1.7%	-1.6%	—
Investing Activities Purchases of Investments	-0.1%	-0.2%	-0.2%	—
Investing Activities Proceeds From Sale of Investments	0.7%	0.5%	0.5%	—
Investing Activities Other Investing Activities	0.2%	1.4%	-0.3%	—
Investing Activities net Cash From Investing Activities	-1.2%	-0.1%	-1.6%	—
Financing Activities Proceeds From Debt	0.0%	-0.0%	0.0%	—
Financing Activities Repurchase of Common Stock	-5.3%	-0.1%	0.0%	—
Financing Activities Dividends Paid	-0.4%	0.0%	0.0%	—
Financing Activities Other Financing Activities	-0.4%	7.2%	-0.9%	—
Financing Activities net Cash From Financing Activities	-6.1%	7.1%	-0.9%	—
Cash Reconciliation Effect of Exchange Rate On Cash	0.4%	-0.3%	0.0%	—
Cash Reconciliation Other Changes In Cash	1.0%	11.8%	0.1%	—
Cash Reconciliation net Change In Cash	1.0%	11.8%	0.1%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 4 years

Ratio	2025	2024	2023	2022
Profitability
Gross margin	+19.8%	+17.4%	+14.5%	+11.7%
Operating margin	+3.6%	+1.3%	-2.8%	-9.7%
Net margin	+12.8%	+4.4%	-1.3%	-9.2%
FCF margin	+9.7%	+4.9%	+1.3%	-2.1%
Growth
Revenue CAGR (3y)	+8.7%	—	—	—
Returns
ROE	+43.7%	+16.3%	-5.9%	—
ROA	+7.8%	+3.0%	-0.9%	—
ROIC	—	—	—	—
Liquidity
Current ratio	0.98x	1.08x	0.94x	—
Quick ratio	0.46x	0.52x	—	—
Leverage
D/E	4.54x	4.28x	5.09x	—
Interest coverage	—	—	—	—
Efficiency
Asset turnover	0.60x	0.68x	0.72x	—
Cash conversion cycle	+113d	+85d	—	—

Valuation

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FY2025 fundamentals · no price

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GE Vernova

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