GE Vernova

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

                    Revenue
                    FY2025
                
$38.1B
                    3y CAGR +8.7%
                    
                    P72
                    
                    +9.0%
                    
                    Net income
                    FY2025
                
$4.9B
                    Net margin +12.8%
                    
                    P51
                    
                    +214.7%
                    
                    Total assets
                    FY2025
                
$63.0B
                    ROA +7.8%
                    
                    P49
                    
                    +22.4%
                    
                    Operating cash flow
                    FY2025
                
$5.0B
                    FCF margin +9.7%
                    
                    P31
                    
                    +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

29 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%	—	—
Accounts Receivable	15.6%	0.9%	—	—
Inventory	16.5%	16.7%	—	—
Prepaid Expenses	2.3%	1.1%	—	—
Other Current Assets	2.3%	1.1%	—	—
Total Current Assets	63.8%	66.3%	—	—
Operating Lease Assets	1.3%	1.3%	—	—
Goodwill	7.0%	8.3%	—	—
Intangible Assets	1.2%	1.6%	—	—
Long Term Investments	2.9%	4.2%	—	—
Deferred Tax Assets	8.4%	3.2%	—	—
Other Noncurrent Assets	6.5%	5.4%	—	—
Total Assets	100.0%	100.0%	—	—
Liabilities
Accrued Liabilities	10.0%	10.7%	—	—
Deferred Revenue	40.9%	34.2%	—	—
Other Current Liabilities	10.0%	10.7%	—	—
Total Current Liabilities	65.0%	61.5%	—	—
Deferred Revenue Noncurrent	0.3%	0.3%	—	—
Deferred Tax Liabilities	1.8%	1.6%	—	—
Other Noncurrent Liabilities	8.6%	9.9%	—	—
Total Liabilities	80.5%	79.4%	—	—
Equity
Common Stock	0.0%	0.0%	—	—
Additional Paid In Capital	15.6%	18.9%	—	—
Retained Earnings	9.8%	3.1%	—	—
Treasury Stock	5.4%	0.1%	—	—
Accumulated Other Comprehensive Income	-2.2%	-3.4%	—	—
Noncontrolling Interest	1.8%	2.0%	—	—
Total Stockholders Equity	17.7%	18.5%	—	—
Total Liabilitiesand Equity	100.0%	100.0%	—	—

Income Statement

Revenue, expense, and profitability

19 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%	—	—
Expenses Cost of Revenue	48.5%	56.0%	—	—
Expenses Research and Development	1.9%	1.9%	—	—
Expenses Selling,General and Administrative	7.9%	9.0%	—	—
Expenses Depreciation and Amortization	0.4%	0.5%	—	—
Expenses Share Based Compensation	0.4%	0.3%	—	—
Expenses Restructuring and Asset Impairment	0.3%	0.3%	—	—
Other Income Expense Gross Profit	12.0%	11.8%	—	—
Other Income Expense Operating Income	2.2%	0.9%	—	—
Other Income Expense Interest Income	0.4%	0.1%	—	—
Other Income Expense Other Income/expense	1.3%	2.7%	—	—
Other Income Expense Income Before Tax	4.5%	4.9%	—	—
Income Tax Income Tax Expense	-3.3%	1.8%	—	—
net Income net Income	7.8%	3.0%	—	—
net Income Comprehensive Income	8.3%	0.8%	—	—
Earnings Per Share Basic Eps	0.0%	0.0%	—	—
Earnings Per Share Diluted Eps	0.0%	0.0%	—	—
Earnings Per Share Weighted Average Shares Basic	0.4%	0.5%	—	—
Earnings Per Share Weighted Average Shares Diluted	0.4%	0.5%	—	—

Cash Flow Statement

Operating, investing, and financing flows

20 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	7.8%	3.0%	—	—
Operating Activities Depreciation and Amortization	1.0%	1.7%	—	—
Operating Activities Stock Based Compensation	0.4%	0.3%	—	—
Operating Activities Deferred Income Taxes	0.5%	-0.0%	—	—
Operating Activities Changes In Operating Assets and Liabilities	15.0%	6.7%	—	—
Operating Activities Other Non Cash Items	-1.9%	0.4%	—	—
Operating Activities net Cash From Operating Activities	7.9%	5.0%	—	—
Investing Activities Capital Expenditures	2.0%	1.7%	—	—
Investing Activities Purchases of Investments	0.1%	0.2%	—	—
Investing Activities Other Investing Activities	-0.1%	0.2%	—	—
Investing Activities net Cash From Investing Activities	-1.2%	-0.1%	—	—
Financing Activities Repurchase of Common Stock	5.3%	0.1%	—	—
Financing Activities Dividends Paid	0.4%	0.0%	—	—
Financing Activities Proceeds From Stock Issuance	0.1%	0.3%	—	—
Financing Activities Other Financing Activities	-0.4%	1.5%	—	—
Financing Activities net Cash From Financing Activities	-6.1%	7.1%	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	14.0%	15.9%	—	—
Cash Reconciliation net Change In Cash	1.0%	11.8%	—	—
Cash Reconciliation Cash At Beginning of Period	14.0%	15.9%	—	—
Cash Reconciliation Cash At End of Period	14.0%	15.9%	—	—

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%	-5.2%	-23.6%
ROA	+7.8%	+3.0%	—	—
ROIC	—	+21.0%	—	—
Liquidity
Current ratio	0.98x	1.08x	—	—
Quick ratio	0.46x	0.27x	—	—
Leverage
D/E	4.54x	4.28x	—	—
Interest coverage	—	—	—	—
Efficiency
Asset turnover	0.60x	0.68x	—	—
Cash conversion cycle	+150d	—	—	—

Valuation

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FY2025 fundamentals · no price

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GE Vernova

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