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

Year-over-year change per cell; first column has no prior.

Balance Sheet

Assets, liabilities, and equity

29 accounts · 3 years

Total assets $63.0B

Total liabilities $50.7B

Shareholders equity $11.2B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	+7.8%	+429.0%	—
Accounts Receivable	+2012.7%	-9.9%	—
Inventory	+21.5%	—	—
Prepaid Expenses	+157.1%	—	—
Other Current Assets	+157.1%	—	—
Total Current Assets	+17.8%	—	—
Operating Lease Assets	+17.4%	—	—
Goodwill	+4.1%	-3.9%	—
Intangible Assets	-10.6%	—	—
Long Term Investments	-14.7%	—	—
Deferred Tax Assets	+224.6%	—	—
Other Noncurrent Assets	+48.2%	—	—
Total Assets	+22.4%	—	—
Liabilities
Accrued Liabilities	+14.8%	—	—
Deferred Revenue	+46.6%	—	—
Other Current Liabilities	+14.8%	—	—
Total Current Liabilities	+29.3%	—	—
Deferred Revenue Noncurrent	+11.5%	—	—
Deferred Tax Liabilities	+40.5%	—	—
Other Noncurrent Liabilities	+5.9%	+695.6%	—
Total Liabilities	+24.0%	—	—
Equity
Common Stock	+0.0%	—	—
Additional Paid In Capital	+0.8%	—	—
Retained Earnings	+282.0%	—	—
Treasury Stock	+7772.1%	—	—
Accumulated Other Comprehensive Income	+20.0%	—	—
Noncontrolling Interest	+6.8%	+2453.7%	—
Total Stockholders Equity	+17.1%	+13.9%	—
Total Liabilitiesand Equity	+22.4%	—	—

Income Statement

Revenue, expense, and profitability

19 accounts · 3 years

Revenue $38.1B

Operating income $1.4B

Net income $4.9B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	+9.0%	+5.1%	—
Expenses Cost of Revenue	+5.8%	+1.5%	—
Expenses Research and Development	+21.9%	+9.6%	—
Expenses Selling,General and Administrative	+6.8%	-4.4%	—
Expenses Depreciation and Amortization	-14.1%	+15.4%	—
Expenses Share Based Compensation	+65.8%	—	—
Expenses Restructuring and Asset Impairment	+1.7%	-19.9%	—
Other Income Expense Gross Profit	+23.8%	+26.3%	—
Other Income Expense Operating Income	+194.7%	+151.0%	—
Other Income Expense Interest Income	+307.6%	+4.8%	—
Other Income Expense Other Income/expense	-42.1%	+323.5%	—
Other Income Expense Income Before Tax	+13.2%	+2021.5%	—
Income Tax Income Tax Expense	-318.4%	+173.0%	—
net Income net Income	+214.7%	+454.3%	—
net Income Comprehensive Income	+1123.1%	+11.7%	—
Earnings Per Share Basic Eps	+217.2%	+453.1%	—
Earnings Per Share Diluted Eps	+217.0%	+448.8%	—
Earnings Per Share Weighted Average Shares Basic	-1.1%	+0.4%	—
Earnings Per Share Weighted Average Shares Diluted	-0.7%	+1.5%	—

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 3 years

Operating cash flow $5.0B

Investing cash flow $-755.0M

Financing cash flow $-3.8B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	+214.7%	+454.3%	—
Operating Activities Depreciation and Amortization	-31.3%	+23.6%	—
Operating Activities Stock Based Compensation	+65.8%	—	—
Operating Activities Deferred Income Taxes	+2453.8%	-146.4%	—
Operating Activities Changes In Operating Assets and Liabilities	+174.8%	+12.7%	—
Operating Activities Other Non Cash Items	-618.3%	+51.7%	—
Operating Activities net Cash From Operating Activities	+93.1%	+117.8%	—
Investing Activities Capital Expenditures	+44.6%	+18.7%	—
Investing Activities Purchases of Investments	-23.7%	+37.3%	—
Investing Activities Other Investing Activities	-138.5%	-38.7%	—
Investing Activities net Cash From Investing Activities	-1940.5%	+95.0%	—
Financing Activities Repurchase of Common Stock	+7611.6%	—	—
Financing Activities Dividends Paid	—	—	—
Financing Activities Proceeds From Stock Issuance	-57.7%	—	—
Financing Activities Other Financing Activities	-128.2%	+1346.0%	—
Financing Activities net Cash From Financing Activities	-204.4%	+995.1%	—
Cash Reconciliation Effect of Exchange Rate On Cash	+7.8%	+429.0%	—
Cash Reconciliation net Change In Cash	-89.4%	+9068.2%	—
Cash Reconciliation Cash At Beginning of Period	+7.8%	+429.0%	—
Cash Reconciliation Cash At End of Period	+7.8%	+429.0%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+19.8%	+17.4%	+14.5%
Operating margin	+3.6%	+1.3%	-2.8%
Net margin	+12.8%	+4.4%	-1.3%
FCF margin	+9.7%	+4.9%	+1.3%
Growth
Revenue CAGR (3y)	+8.7%	—	—
Returns
ROE	+43.7%	+16.3%	-5.2%
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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