# GE Vernova Inc. (GEV)

> Makes and services equipment used to generate electricity and move, control, convert, and store it.

- Exchange: New York Stock Exchange · Sector: Industrials · Industry: Specialty Industrial Machinery
- Headquarters: Cambridge, Massachusetts
- Founded: 2024 (became independent on April 2, 2024)
- Employees: 85,000 (Q2 2026 earnings call)
- SEC CIK: 0001996810 ([filings on EDGAR](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001996810))
- Full page: https://inspectstocks.com/stocks/gev
- Data as of: price 2026-09-28; newest filing used 2026-07-22; latest fiscal period ended 2026-06-30

## Grade

**A+** on the growth-and-cash rubric, 5 of 5 checks passed.

| Check | Result | Now | Before |
| --- | --- | --- | --- |
| Revenue growing overall | passed | $41.4B | $29.7B |
| Revenue growing recently | passed | $41.4B | $38.1B |
| Free cash flow positive | passed | $12.4B |  |
| Free cash flow growing overall | passed | $12.4B | -$627M |
| Free cash flow growing recently | passed | $12.4B | $3.7B |

Business quality (the + / − mark): 5 of 6 checks passed.

| Check | Result | Now | Before |
| --- | --- | --- | --- |
| Profitable | passed | 23.0% |  |
| Healthy profit margin | passed | 23.0% |  |
| Strong operating margin | failed | 4.3% |  |
| Good return on equity | passed | 85.2% |  |
| Debt under control | passed | 0.13 |  |
| Turns sales into cash | passed | 30.1% |  |

How the grade works: the letter counts failed checks (none → A, one → B, two → C, three → D, four or more → F). It is built from SEC filings only — the share price never enters it — and describes the business, not whether the stock is worth buying.

## Key figures

In US dollars, as filed.

| Measure | Value |
| --- | --- |
| Revenue, trailing twelve months | $41.4B |
| Net income, trailing twelve months | $9.5B |
| Free cash flow, trailing twelve months | $12.4B |
| Net margin | 23.0% |
| Operating margin | 4.3% |
| Return on equity | 85.2% |
| Debt to equity | 0.13 |
| Diluted EPS, trailing twelve months | $34.83 |
| Share price | $949.55 |
| Market value | $252.9B |
| Price / earnings | 27.3x |
| Price / sales | 6.1x |

## What the business does

GE Vernova makes equipment for power generation, including gas, nuclear, hydroelectric, and wind power, and earns additional revenue by servicing equipment after it is installed. It also sells equipment and software that help utilities and industrial customers transmit, distribute, control, convert, and store electricity. Its customers include utilities, power producers, governments, industrial companies, and data center operators.

### How it makes money

- **Power** (51.1% (six months ended June 30, 2026)) — Sells gas and steam turbines, nuclear and hydroelectric power equipment, and related services. Money comes from equipment sales and installation, maintenance agreements, replacement parts, upgrades, and other service work.
- **Electrification** (32.3% (six months ended June 30, 2026)) — Sells grid equipment such as transformers, switchgear, and substation systems, as well as power conversion, storage, automation, and software products. Revenue comes from equipment and related services.
- **Wind** (16.9% (six months ended June 30, 2026)) — Sells onshore and offshore wind turbines and blades, and earns service revenue from maintenance, repairs, upgrades, and other work on wind farms.

### Products

- **Gas turbines and gas power services** — Turbines that generate electricity from natural gas and other fuels, along with maintenance, repairs, upgrades, and service for power plants.
- **Nuclear power technology** — Reactor designs, fuel, and support services for boiling water reactors, as well as small modular reactor technology developed with partners.
- **Hydro and steam power equipment** — Equipment and services for generating electricity from water and for steam power plants, including plants serving nuclear and coal-fired power generation.
- **Wind turbines and blades** — Turbines for onshore and offshore wind farms, wind turbine blades, and services to maintain and improve wind farm equipment.
- **Electricity grid equipment** — Transformers, switchgear, substation equipment, and high-voltage direct-current systems that move electricity across transmission and distribution networks.
- **Power conversion, storage, and grid software** — Equipment that converts or stores electricity, and software that helps customers monitor and manage electricity transmission and delivery.

### Customers

- Electric utilities and public power companies buy generation equipment and grid systems, often through project contracts, and may also purchase long-term maintenance and repair services.
- Independent power producers and project developers buy turbines and other equipment to build or expand power plants and wind farms.
- Industrial companies buy power generation, conversion, storage, and grid equipment for their facilities, along with related service work.
- Government agencies and state-owned power companies buy equipment and services through public-sector contracts and procurement processes.
- Data center operators buy power generation and grid equipment to connect, supply, and manage electricity for their facilities.

### Competitors

- Siemens Energy (SMNEY) — Gas and steam power equipment and services, wind power, and electricity grid equipment.
- Mitsubishi Power (Mitsubishi Heavy Industries division) (MHVYF) — Gas and steam power generation equipment and services.
- Vestas Wind Systems (VWDRY) — Onshore and offshore wind turbines and wind farm services.
- Nordex SE (NDX1) — Onshore wind turbines and related services.
- Hitachi Energy (Hitachi, Ltd. division) (HTHIY) — Electricity transmission and distribution equipment, including grid systems.
- ABB Ltd. (ABB) — Electricity grid equipment, automation, and power conversion products.

### What it depends on

- Manufacturing depends on a worldwide supplier network for materials and components; trade restrictions, shipping disruptions, or shortages can affect costs and delivery schedules.
- Many customer projects depend on permits, grid connections, project financing, and government energy policies, which can affect whether and when equipment is ordered or installed.
- The company uses certain GE intellectual property and the GE name under license; the annual report says termination of the trademark license could require rebranding.

### What could go wrong

- Fixed-price, long-term contracts can become less profitable or result in losses if material, labor, or project costs exceed the amounts assumed when the contract was signed.
- Supplier, logistics, and manufacturing disruptions, including tariffs and changes in the cost or availability of critical materials, can raise costs or delay customer deliveries.
- Wind projects can face cost overruns, installation delays, permitting or policy changes, and disputes with customers; the latest quarterly report describes outstanding claims and counterclaims tied to the Vineyard Wind project.

## More on this company

- [Overview](https://inspectstocks.com/stocks/gev)
- [Financial statements](https://inspectstocks.com/stocks/gev/financials)
- [Competitors](https://inspectstocks.com/stocks/gev/peers)
- [Earnings](https://inspectstocks.com/stocks/gev/earnings)

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Source: InspectStocks, built from the company’s own SEC filings. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.