GE Vernova (GEV) Financials

$648.94 +3.08 (+0.48%)

Closing price 08/8/2025 03:59 PM Eastern

Extended Trading

$650.00 +1.06 (+0.16%)

As of 08/8/2025 08:00 PM Eastern

Annual Income Statements for GE Vernova

This table shows GE Vernova's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-2,736	-438	1,552
Consolidated Net Income / (Loss)	-2,722	-474	1,559
Net Income / (Loss) Continuing Operations	-2,722	-474	1,559
Total Pre-Tax Income	-2,474	-130	2,498
Total Operating Income	-2,881	-923	471
Total Gross Profit	3,458	4,818	6,085
Total Revenue	29,654	33,239	34,935
Operating Revenue	29,654	33,239	34,935
Total Cost of Revenue	26,196	28,421	28,850
Operating Cost of Revenue	26,196	28,421	28,850
Total Operating Expenses	6,339	5,741	5,614
Selling, General & Admin Expense	5,360	4,845	4,632
Research & Development Expense	979	896	982
Total Other Income / (Expense), net	407	793	2,028
Interest Expense	151	98	-120
Other Income / (Expense), net	558	891	1,908
Income Tax Expense	248	344	939
Net Income / (Loss) Attributable to Noncontrolling Interest	14	-36	7.00
Basic Earnings per Share	($10.00)	($1.60)	$5.65
Weighted Average Basic Shares Outstanding	274M	274M	275M
Diluted Earnings per Share	($10.00)	($1.60)	$5.58
Weighted Average Diluted Shares Outstanding	274M	274M	278M
Weighted Average Basic & Diluted Shares Outstanding	-	-	275.90M
Cash Dividends to Common per Share	-	-	$0.25

This table shows GE Vernova's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	-315	-150	-170	197	-130	1,294	-96	484	254	514
Consolidated Net Income / (Loss)	-346	-149	-185	206	-106	1,280	-99	484	264	492
Net Income / (Loss) Continuing Operations	-346	-148	-184	204	-106	1,280	-99	484	264	492
Total Pre-Tax Income	-415	-27	-16	328	-96	1,602	-122	1,114	332	645
Total Operating Income	-469	-341	-307	194	-289	527	-359	592	43	378
Total Gross Profit	919	1,147	1,051	1,701	1,150	1,702	1,109	2,124	1,470	1,846
Total Revenue	6,822	8,119	8,253	10,045	7,260	8,204	8,913	10,558	8,032	9,111
Operating Revenue	6,822	8,119	8,253	10,045	7,260	8,204	8,913	10,558	8,032	9,111
Total Cost of Revenue	5,903	6,973	7,201	8,344	6,109	6,502	7,804	8,435	6,562	7,266
Operating Cost of Revenue	5,903	6,973	7,201	8,344	6,109	6,502	7,804	8,435	6,562	7,266
Total Operating Expenses	1,388	1,488	1,358	1,507	1,439	1,175	1,469	1,531	1,427	1,467
Selling, General & Admin Expense	1,186	1,272	1,135	1,252	1,202	938	1,226	1,266	1,188	1,185
Research & Development Expense	202	216	223	255	237	237	243	265	239	282
Total Other Income / (Expense), net	54	315	292	132	193	1,075	237	523	290	267
Interest Expense	21	21	21	35	14	-60	-36	-38	-56	-42
Other Income / (Expense), net	75	336	313	167	207	1,015	201	485	234	225
Income Tax Expense	-69	122	169	122	10	322	-23	630	68	153
Net Income / (Loss) Attributable to Noncontrolling Interest	-32	2.00	-15	9.00	24	-14	-3.00	-	11	-22
Basic Earnings per Share	-	($0.55)	($0.62)	-	($0.47)	$4.72	($0.35)	-	$0.92	$1.89
Weighted Average Basic Shares Outstanding	-	274M	274M	274M	274M	274M	275M	275M	275M	272M
Diluted Earnings per Share	-	($0.55)	($0.62)	-	($0.47)	$4.65	($0.35)	-	$0.91	$1.86
Weighted Average Diluted Shares Outstanding	-	274M	274M	274M	274M	278M	275M	278M	279M	276M
Weighted Average Basic & Diluted Shares Outstanding	-	-	-	0.00	274.09M	274.80M	275.65M	275.90M	272.93M	272.22M
Cash Dividends to Common per Share	-	-	-	-	-	-	-	-	-	$0.50

This table details how cash moves in and out of GE Vernova's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	288	66	6,051
Net Cash From Operating Activities	-114	1,186	2,583
Net Cash From Continuing Operating Activities	-114	1,188	2,583
Net Income / (Loss) Continuing Operations	-2,722	-474	1,559
Consolidated Net Income / (Loss)	-2,722	-474	1,559
Depreciation Expense	779	724	895
Amortization Expense	1,018	240	277
Non-Cash Adjustments To Reconcile Net Income	407	-523	-2,304
Changes in Operating Assets and Liabilities, net	404	1,221	2,156
Net Cash From Investing Activities	-322	-734	-37
Net Cash From Continuing Investing Activities	-322	-734	-37
Purchase of Property, Plant & Equipment	-513	-744	-883
Acquisitions	-393	-83	-114
Sale of Property, Plant & Equipment	53	60	25
Divestitures	340	232	1,057
Other Investing Activities, net	191	-199	-122
Net Cash From Financing Activities	811	-408	3,652
Net Cash From Continuing Financing Activities	811	-408	3,652
Repayment of Debt	-151	-63	742
Issuance of Debt	15	16	-23
Other Financing Activities, net	947	-361	2,933
Effect of Exchange Rate Changes	-87	22	-147
Cash Interest Paid	77	83	74

This table details how cash moves in and out of GE Vernova's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	-35	-433	-127	661	1,173	2,983	1,013	1,413	-99	-213
Net Cash From Operating Activities	-690	-288	233	1,931	-444	979	1,127	921	1,161	367
Net Cash From Continuing Operating Activities	-690	-288	232	1,934	-444	982	1,123	922	1,160	367
Net Income / (Loss) Continuing Operations	-346	-149	-185	206	-106	1,280	-99	484	264	492
Consolidated Net Income / (Loss)	-346	-149	-185	206	-106	1,280	-99	484	264	492
Depreciation Expense	176	171	184	193	188	191	336	180	149	145
Amortization Expense	55	68	58	59	63	63	62	89	56	60
Non-Cash Adjustments To Reconcile Net Income	-322	-48	-87	-66	-457	-965	-127	-387	-576	-524
Changes in Operating Assets and Liabilities, net	-253	-330	262	1,542	-132	413	951	556	1,267	194
Net Cash From Investing Activities	-41	-400	-36	-257	-285	537	-114	-175	-93	-121
Net Cash From Continuing Investing Activities	-41	-401	-34	-258	-284	536	-114	-175	-93	-121
Purchase of Property, Plant & Equipment	-124	-159	-181	-280	-217	-157	-159	-350	-186	-173
Acquisitions	-18	-22	-37	-6.00	-91	-17	-2.00	-4.00	-6.00	-24
Divestitures	13	20	187	12	29	641	1.00	386	90	2.00
Other Investing Activities, net	86	-282	-13	10	-9.00	60	43	-216	-25	74
Net Cash From Financing Activities	704	238	-286	-1,064	1,934	970	585	163	-1,257	-604
Net Cash From Continuing Financing Activities	704	238	-285	-1,065	1,934	971	584	163	-1,256	-606
Repayment of Debt	-22	-24	-8.00	-9.00	-66	30	615	163	-86	-56
Repurchase of Common Equity	-	-	-	-	0.00	-	-	-	-1,101	-480
Payment of Dividends	-	-	-	-	0.00	-	-	-	-69	-70
Effect of Exchange Rate Changes	-	-	-31	44	-32	-	18	-99	90	145

This table presents GE Vernova's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2023	2024
Period end date	12/31/2023	12/31/2024
Total Assets	46,121	51,485
Total Current Assets	27,428	34,153
Cash & Equivalents	1,551	8,205
Accounts Receivable	7,489	8,177
Inventories, net	8,253	8,587
Other Current Assets	8,691	9,185
Plant, Property, & Equipment, net	5,228	5,150
Total Noncurrent Assets	13,465	12,182
Long-Term Investments	3,555	2,149
Goodwill	4,437	4,263
Intangible Assets	1,042	813
Noncurrent Deferred & Refundable Income Taxes	1,582	1,639
Other Noncurrent Operating Assets	2,849	3,318
Total Liabilities & Shareholders' Equity	46,121	51,485
Total Liabilities	37,741	40,892
Total Current Liabilities	29,306	31,685
Accounts Payable	8,432	8,602
Other Current Liabilities	19,426	23,083
Total Noncurrent Liabilities	8,435	9,207
Noncurrent Deferred & Payable Income Tax Liabilities	382	827
Noncurrent Employee Benefit Liabilities	3,273	3,264
Other Noncurrent Operating Liabilities	4,780	5,116
Commitments & Contingencies	0.00	0.00
Total Equity & Noncontrolling Interests	8,380	10,593
Total Preferred & Common Equity	7,416	9,546
Total Common Equity	7,416	9,545
Common Stock	0.00	9,736
Retained Earnings	0.00	1,611
Treasury Stock	0.00	-43
Accumulated Other Comprehensive Income / (Loss)	-635	-1,759
Noncontrolling Interest	964	1,047

This table presents GE Vernova's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Total Assets	46,121	47,872	48,052	50,853	51,485	51,559	53,078
Total Current Assets	27,428	29,243	30,722	33,141	34,153	33,936	34,709
Cash & Equivalents	1,551	3,255	5,779	7,395	8,205	8,107	7,892
Accounts Receivable	7,489	7,096	6,431	7,226	8,178	7,136	6,948
Inventories, net	8,253	8,859	9,346	9,377	8,587	9,156	9,825
Other Current Assets	8,691	9,041	9,165	9,142	9,183	9,537	10,044
Plant, Property, & Equipment, net	5,228	5,224	5,168	5,148	5,150	5,225	5,419
Total Noncurrent Assets	13,465	13,405	12,161	12,564	12,182	12,398	12,948
Long-Term Investments	3,555	3,647	2,405	2,376	2,149	2,137	2,170
Goodwill	4,437	4,403	4,354	4,444	4,263	4,368	4,528
Intangible Assets	1,042	991	925	869	813	773	739
Noncurrent Deferred & Refundable Income Taxes	1,582	1,428	1,383	1,499	1,639	1,639	1,733
Other Noncurrent Operating Assets	2,849	2,936	3,094	3,376	3,318	3,481	3,778
Total Liabilities & Shareholders' Equity	46,121	47,872	48,052	50,853	51,485	51,559	53,078
Total Liabilities	37,741	37,892	38,003	40,336	40,892	41,887	43,131
Total Current Liabilities	29,306	29,516	29,065	31,233	31,685	32,677	33,761
Accounts Payable	8,432	7,726	7,885	9,000	8,602	8,421	9,035
Other Current Liabilities	19,426	20,318	21,180	22,232	23,083	24,255	24,726
Total Noncurrent Liabilities	8,435	8,376	8,938	9,103	9,207	9,210	9,370
Noncurrent Deferred & Payable Income Tax Liabilities	382	423	674	823	827	782	818
Noncurrent Employee Benefit Liabilities	3,273	3,266	3,224	3,233	3,264	3,251	3,243
Other Noncurrent Operating Liabilities	4,780	4,687	5,040	5,047	5,116	5,177	5,309
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	8,380	9,980	10,049	10,517	10,593	9,672	9,947
Total Preferred & Common Equity	7,416	8,974	9,067	9,504	9,546	8,607	8,877
Total Common Equity	7,416	8,973	9,067	9,504	9,545	8,606	8,877
Common Stock	0.00	-	8,804	9,377	9,736	9,657	9,717
Retained Earnings	0.00	-	1,294	1,198	1,611	1,865	2,241
Treasury Stock	0.00	-	-	-40	-43	-1,256	-1,636
Accumulated Other Comprehensive Income / (Loss)	-635	-686	-1,031	-1,031	-1,759	-1,660	-1,445
Noncontrolling Interest	964	1,007	982	1,014	1,047	1,065	1,070

This table displays calculated financial ratios and metrics derived from GE Vernova's official financial filings.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-
Revenue Growth	0.00%	12.09%	5.10%
EBITDA Growth	0.00%	277.19%	281.01%
EBIT Growth	0.00%	98.62%	7,534.38%
NOPAT Growth	0.00%	67.96%	145.50%
Net Income Growth	0.00%	82.59%	428.90%
EPS Growth	0.00%	84.00%	448.75%
Operating Cash Flow Growth	0.00%	1,140.35%	117.79%
Free Cash Flow Firm Growth	0.00%	0.00%	184.94%
Invested Capital Growth	0.00%	0.00%	-92.71%
Revenue Q/Q Growth	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%
EBIT Q/Q Growth	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%
Net Income Q/Q Growth	0.00%	0.00%	0.00%
EPS Q/Q Growth	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%	-67.96%
Profitability Metrics	-	-	-
Gross Margin	11.66%	14.50%	17.42%
EBITDA Margin	-1.77%	2.80%	10.16%
Operating Margin	-9.72%	-2.78%	1.35%
EBIT Margin	-7.83%	-0.10%	6.81%
Profit (Net Income) Margin	-9.18%	-1.43%	4.46%
Tax Burden Percent	110.02%	364.62%	62.41%
Interest Burden Percent	106.50%	406.25%	105.00%
Effective Tax Rate	0.00%	0.00%	37.59%
Return on Invested Capital (ROIC)	0.00%	-39.42%	16.72%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-46.17%	0.35%
Return on Net Nonoperating Assets (RNNOA)	0.00%	28.11%	-0.28%
Return on Equity (ROE)	0.00%	-11.31%	16.43%
Cash Return on Invested Capital (CROIC)	0.00%	-239.42%	189.53%
Operating Return on Assets (OROA)	0.00%	-0.07%	4.87%
Return on Assets (ROA)	0.00%	-1.03%	3.19%
Return on Common Equity (ROCE)	0.00%	-10.01%	14.69%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-6.39%	16.33%
Net Operating Profit after Tax (NOPAT)	-2,017	-646	294
NOPAT Margin	-6.80%	-1.94%	0.84%
Net Nonoperating Expense Percent (NNEP)	0.00%	6.75%	16.37%
Return On Investment Capital (ROIC_SIMPLE)	-	-7.71%	2.78%
Cost of Revenue to Revenue	88.34%	85.51%	82.58%
SG&A Expenses to Revenue	18.08%	14.58%	13.26%
R&D to Revenue	3.30%	2.70%	2.81%
Operating Expenses to Revenue	21.38%	17.27%	16.07%
Earnings before Interest and Taxes (EBIT)	-2,323	-32	2,379
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-526	932	3,551
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	0.00	0.00	9.50
Price to Tangible Book Value (P/TBV)	0.00	0.00	20.29
Price to Revenue (P/Rev)	0.00	0.00	2.60
Price to Earnings (P/E)	0.00	0.00	58.42
Dividend Yield	0.00%	0.00%	0.08%
Earnings Yield	0.00%	0.00%	1.71%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	340.43
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	2.33
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	22.91
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	34.20
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	276.79
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	31.50
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	24.41
Leverage & Solvency	-	-	-
Debt to Equity	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00
Financial Leverage	0.00	-0.61	-0.81
Leverage Ratio	0.00	5.50	5.14
Compound Leverage Factor	0.00	22.36	5.40
Debt to Total Capital	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	11.50%	9.88%
Common Equity to Total Capital	0.00%	88.50%	90.11%
Debt to EBITDA	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00
Altman Z-Score	0.00	0.00	2.26
Noncontrolling Interest Sharing Ratio	0.00%	11.50%	10.60%
Liquidity Ratios	-	-	-
Current Ratio	0.00	0.94	1.08
Quick Ratio	0.00	0.31	0.52
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-3,924	3,333
Operating Cash Flow to CapEx	-24.78%	173.39%	301.05%
Free Cash Flow to Firm to Interest Expense	0.00	-40.04	0.00
Operating Cash Flow to Interest Expense	-0.76	12.10	0.00
Operating Cash Flow Less CapEx to Interest Expense	-3.80	5.12	0.00
Efficiency Ratios	-	-	-
Asset Turnover	0.00	0.72	0.72
Accounts Receivable Turnover	0.00	4.44	4.46
Inventory Turnover	0.00	3.44	3.43
Fixed Asset Turnover	0.00	6.36	6.73
Accounts Payable Turnover	0.00	3.37	3.39
Days Sales Outstanding (DSO)	0.00	82.24	81.84
Days Inventory Outstanding (DIO)	0.00	105.99	106.53
Days Payable Outstanding (DPO)	0.00	108.29	107.75
Cash Conversion Cycle (CCC)	0.00	79.94	80.62
Capital & Investment Metrics	-	-	-
Invested Capital	0.00	3,278	239
Invested Capital Turnover	0.00	20.28	19.87
Increase / (Decrease) in Invested Capital	0.00	3,278	-3,039
Enterprise Value (EV)	0.00	0.00	81,364
Market Capitalization	0.00	0.00	90,671
Book Value per Share	$0.00	$27.07	$34.63
Tangible Book Value per Share	$0.00	$7.07	$16.21
Total Capital	0.00	8,380	10,593
Total Debt	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00
Net Debt	0.00	-5,106	-10,354
Capital Expenditures (CapEx)	460	684	858
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-3,429	-5,737
Debt-free Net Working Capital (DFNWC)	0.00	-1,878	2,468
Net Working Capital (NWC)	0.00	-1,878	2,468
Net Nonoperating Expense (NNE)	705	-172	-1,265
Net Nonoperating Obligations (NNO)	0.00	-5,102	-10,354
Total Depreciation and Amortization (D&A)	1,797	964	1,172
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-10.32%	-16.42%
Debt-free Net Working Capital to Revenue	0.00%	-5.65%	7.06%
Net Working Capital to Revenue	0.00%	-5.65%	7.06%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$5.65
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	275M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$5.58
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	278M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	275.90M
Normalized Net Operating Profit after Tax (NOPAT)	-2,017	-646	294
Normalized NOPAT Margin	-6.80%	-1.94%	0.84%
Pre Tax Income Margin	-8.34%	-0.39%	7.15%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	-15.38	-0.33	0.00
NOPAT to Interest Expense	-13.36	-6.59	0.00
EBIT Less CapEx to Interest Expense	-18.43	-7.31	0.00
NOPAT Less CapEx to Interest Expense	-16.40	-13.57	0.00
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from GE Vernova's official financial filings.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	0.00%	6.42%	1.05%	8.00%	5.11%	10.63%	11.06%
EBITDA Growth	0.00%	0.00%	0.00%	0.00%	203.68%	667.52%	-3.23%	119.58%	185.21%	-55.01%
EBIT Growth	0.00%	0.00%	0.00%	0.00%	79.19%	30,940.00%	-2,733.33%	198.34%	437.80%	-60.89%
NOPAT Growth	0.00%	0.00%	0.00%	0.00%	38.38%	276.40%	-16.94%	111.10%	116.90%	-31.52%
Net Income Growth	0.00%	0.00%	0.00%	0.00%	69.36%	959.06%	46.49%	134.95%	349.06%	-61.56%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	945.45%	43.55%	0.00%	293.62%	-60.00%
Operating Cash Flow Growth	0.00%	0.00%	0.00%	0.00%	35.65%	439.93%	383.69%	-52.30%	361.49%	-62.51%
Free Cash Flow Firm Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	210.71%	257.31%
Invested Capital Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-92.71%	-116.05%	-106.28%
Revenue Q/Q Growth	0.00%	19.01%	1.65%	21.71%	0.00%	13.00%	8.64%	18.46%	-23.93%	13.43%
EBITDA Q/Q Growth	0.00%	243.56%	5.98%	147.18%	0.00%	962.72%	-86.64%	460.83%	-64.19%	67.63%
EBIT Q/Q Growth	0.00%	98.73%	220.00%	5,916.67%	0.00%	1,980.49%	-110.25%	781.65%	-74.28%	117.69%
NOPAT Q/Q Growth	0.00%	27.29%	9.97%	156.70%	0.00%	308.14%	-159.68%	202.35%	-86.71%	743.26%
Net Income Q/Q Growth	0.00%	56.94%	-24.16%	211.35%	0.00%	1,307.55%	-107.73%	588.89%	-45.45%	86.36%
EPS Q/Q Growth	0.00%	0.00%	-12.73%	0.00%	0.00%	0.00%	-107.53%	0.00%	0.00%	104.40%
Operating Cash Flow Q/Q Growth	0.00%	58.26%	180.90%	728.76%	0.00%	320.50%	15.12%	-18.28%	26.06%	-68.39%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	61.65%	30.84%	430.51%	26.30%	-45.51%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-47.64%	-59.96%	-67.96%	-338.91%	79.51%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	13.47%	14.13%	12.73%	16.93%	15.84%	20.75%	12.44%	20.12%	18.30%	20.26%
EBITDA Margin	-2.39%	2.88%	3.01%	6.10%	2.33%	21.89%	2.69%	12.75%	6.00%	8.87%
Operating Margin	-6.87%	-4.20%	-3.72%	1.93%	-3.98%	6.42%	-4.03%	5.61%	0.54%	4.15%
EBIT Margin	-5.78%	-0.06%	0.07%	3.59%	-1.13%	18.80%	-1.77%	10.20%	3.45%	6.62%
Profit (Net Income) Margin	-5.07%	-1.84%	-2.24%	2.05%	-1.46%	15.60%	-1.11%	4.58%	3.29%	5.40%
Tax Burden Percent	83.37%	551.85%	1,156.25%	62.80%	110.42%	79.90%	81.15%	43.45%	79.52%	76.28%
Interest Burden Percent	105.33%	540.00%	-266.67%	90.86%	117.07%	103.89%	77.22%	103.44%	119.86%	106.97%
Effective Tax Rate	0.00%	0.00%	0.00%	37.20%	0.00%	20.10%	0.00%	56.55%	20.48%	23.72%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	12.30%	0.00%	0.00%	0.00%	48.40%	10.18%	132.73%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	10.65%	0.00%	0.00%	0.00%	45.46%	7.42%	130.50%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	-6.48%	0.00%	0.00%	0.00%	-37.04%	-6.29%	-119.10%
Return on Equity (ROE)	0.00%	0.00%	0.00%	5.82%	0.00%	0.00%	0.00%	11.36%	3.89%	13.63%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	-119.71%	0.00%	0.00%	0.00%	189.53%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	2.59%	0.00%	0.00%	0.00%	7.30%	2.48%	4.79%
Return on Assets (ROA)	0.00%	0.00%	0.00%	1.48%	0.00%	0.00%	0.00%	3.28%	2.36%	3.91%
Return on Common Equity (ROCE)	0.00%	0.00%	0.00%	5.15%	0.00%	0.00%	0.00%	10.16%	3.48%	12.23%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	22.41%	12.85%
Net Operating Profit after Tax (NOPAT)	-328	-239	-215	122	-202	421	-251	257	34	288
NOPAT Margin	-4.81%	-2.94%	-2.60%	1.21%	-2.79%	5.13%	-2.82%	2.44%	0.43%	3.16%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	1.65%	3.00%	20.99%	3.12%	2.93%	2.76%	2.23%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	1.45%	-	-	-	2.43%	0.35%	2.90%
Cost of Revenue to Revenue	86.53%	85.89%	87.25%	83.07%	84.15%	79.25%	87.56%	79.89%	81.70%	79.75%
SG&A Expenses to Revenue	17.38%	15.67%	13.75%	12.46%	16.56%	11.43%	13.76%	11.99%	14.79%	13.01%
R&D to Revenue	2.96%	2.66%	2.70%	2.54%	3.26%	2.89%	2.73%	2.51%	2.98%	3.10%
Operating Expenses to Revenue	20.35%	18.33%	16.45%	15.00%	19.82%	14.32%	16.48%	14.50%	17.77%	16.10%
Earnings before Interest and Taxes (EBIT)	-394	-5.00	6.00	361	-82	1,542	-158	1,077	277	603
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-163	234	248	613	169	1,796	240	1,346	482	808
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	5.18	7.37	9.50	9.78	16.26
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	12.41	16.72	20.29	24.29	39.99
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.60	2.36	3.94
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	58.42	43.47	124.88
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.08%	0.08%	0.09%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.71%	2.30%	0.80%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	21.37	82.19	340.43	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.33	2.10	3.70
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	22.91	19.41	47.07
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	34.20	27.39	75.25
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	276.79	141.64	357.19
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	31.50	17.90	37.85
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	24.41	16.10	57.38
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	0.00	0.00	0.00	-0.61	-0.64	-0.81	-0.93	-0.81	-0.85	-0.91
Leverage Ratio	0.00	0.00	0.00	5.50	4.80	4.78	4.84	5.14	5.06	5.06
Compound Leverage Factor	0.00	0.00	0.00	5.00	5.62	4.97	3.73	5.32	6.06	5.41
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	11.50%	10.09%	9.77%	9.64%	9.88%	11.01%	10.76%
Common Equity to Total Capital	0.00%	0.00%	0.00%	88.50%	89.91%	90.23%	90.37%	90.11%	88.98%	89.24%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	0.00	0.00	0.00	0.00	0.00	0.93	1.11	2.18	2.00	2.82
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	11.50%	10.09%	9.77%	9.63%	10.60%	10.55%	10.26%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	0.00	0.00	0.94	0.99	1.06	1.06	1.08	1.04	1.03
Quick Ratio	0.00	0.00	0.00	0.31	0.35	0.42	0.47	0.52	0.47	0.44
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	0.00	0.00	0.00	-3,760	-1,442	-997	3,296	4,163	2,268
Operating Cash Flow to CapEx	-565.57%	-246.15%	136.26%	704.74%	-208.45%	661.49%	722.44%	270.09%	763.82%	212.14%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	-268.59	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-32.86	-13.71	11.10	55.17	-31.71	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-38.67	-19.29	2.95	47.34	-46.93	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.72	0.00	0.00	0.00	0.72	0.72	0.72
Accounts Receivable Turnover	0.00	0.00	0.00	4.44	0.00	0.00	0.00	4.46	5.02	5.47
Inventory Turnover	0.00	0.00	0.00	3.44	0.00	0.00	0.00	3.43	3.25	3.14
Fixed Asset Turnover	0.00	0.00	0.00	6.36	0.00	0.00	0.00	6.73	6.83	6.92
Accounts Payable Turnover	0.00	0.00	0.00	3.37	0.00	0.00	0.00	3.39	3.63	3.55
Days Sales Outstanding (DSO)	0.00	0.00	0.00	82.24	0.00	0.00	0.00	81.84	72.74	66.69
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	105.99	0.00	0.00	0.00	106.53	112.20	116.36
Days Payable Outstanding (DPO)	0.00	0.00	0.00	108.29	0.00	0.00	0.00	107.75	100.56	102.70
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	79.94	0.00	0.00	0.00	80.62	84.37	80.35
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	0.00	0.00	3,278	3,558	1,863	746	239	-571	-117
Invested Capital Turnover	0.00	0.00	0.00	10.14	0.00	0.00	0.00	19.87	23.91	41.94
Increase / (Decrease) in Invested Capital	0.00	0.00	0.00	0.00	3,558	1,863	746	-3,039	-4,129	-1,980
Enterprise Value (EV)	0.00	0.00	0.00	0.00	0.00	39,806	61,312	81,364	74,984	135,369
Market Capitalization	0.00	0.00	0.00	0.00	0.00	47,008	70,069	90,671	84,163	144,361
Book Value per Share	$0.00	$0.00	$0.00	$27.07	$32.74	$33.08	$34.58	$34.63	$31.19	$32.52
Tangible Book Value per Share	$0.00	$0.00	$0.00	$7.07	$13.06	$13.82	$15.25	$16.21	$12.56	$13.23
Total Capital	0.00	0.00	0.00	8,380	9,980	10,049	10,517	10,593	9,672	9,947
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	0.00	0.00	0.00	-5,106	-6,902	-8,184	-9,771	-10,354	-10,244	-10,062
Capital Expenditures (CapEx)	122	117	171	274	213	148	156	341	152	173
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	0.00	0.00	-3,429	-3,528	-4,122	-5,487	-5,737	-6,848	-6,944
Debt-free Net Working Capital (DFNWC)	0.00	0.00	0.00	-1,878	-273	1,657	1,908	2,468	1,259	948
Net Working Capital (NWC)	0.00	0.00	0.00	-1,878	-273	1,657	1,908	2,468	1,259	948
Net Nonoperating Expense (NNE)	18	-90	-30	-84	-96	-859	-152	-227	-230	-204
Net Nonoperating Obligations (NNO)	0.00	0.00	0.00	-5,102	-6,422	-8,186	-9,771	-10,354	-10,243	-10,064
Total Depreciation and Amortization (D&A)	231	239	242	252	251	254	398	269	205	205
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	-10.32%	0.00%	0.00%	0.00%	-16.42%	-19.18%	-18.97%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	-5.65%	0.00%	0.00%	0.00%	7.06%	3.53%	2.59%
Net Working Capital to Revenue	0.00%	0.00%	0.00%	-5.65%	0.00%	0.00%	0.00%	7.06%	3.53%	2.59%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$4.72	($0.35)	$0.00	$0.92	$1.89
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	274M	274.09M	274M	275M	275M	275M	272M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$4.65	($0.35)	$0.00	$0.91	$1.86
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	274M	274.09M	278M	275M	278M	279M	276M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	0.00	274.09M	274.80M	275.65M	275.90M	272.93M	272.22M
Normalized Net Operating Profit after Tax (NOPAT)	-328	-239	-215	122	-202	421	-251	414	34	288
Normalized NOPAT Margin	-4.81%	-2.94%	-2.60%	1.21%	-2.79%	5.13%	-2.82%	3.93%	0.43%	3.16%
Pre Tax Income Margin	-6.08%	-0.33%	-0.19%	3.27%	-1.32%	19.53%	-1.37%	10.55%	4.13%	7.08%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-18.76	-0.24	0.29	10.31	-5.86	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-15.63	-11.37	-10.23	3.48	-14.45	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-24.57	-5.81	-7.86	2.49	-21.07	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-21.44	-16.94	-18.38	-4.35	-29.66	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Key Financial Trends

GE Vernova (NYSE: GEV) has shown notable financial trends over the past several quarters and years based on the recent data through Q2 2025.

Profitability and Earnings:

The company reported a solid consolidated net income of $492 million in Q2 2025, more than doubling the $264 million net income of Q1 2025, indicating strong sequential profit growth.
Diluted earnings per share rose significantly to $1.86 in Q2 2025 from $0.91 in Q1 2025, reflecting improved profitability on a per-share basis.
Operating revenue grew from $8.03 billion in Q1 2025 to $9.11 billion in Q2 2025, showing healthy top-line expansion quarter over quarter.
Gross profit improved to $1.85 billion in Q2 2025, supported by operational efficiencies despite higher costs.
Despite recent profitability, the company experienced losses in several quarters during 2023 and early 2024, including negative net income and EPS, suggesting volatility in earnings historically.

Cash Flow and Capital Spending:

Net cash from continuing operating activities was $367 million in Q2 2025, supporting operational strength and cash generation capabilities.
Capital expenditures remain elevated, with $173 million spent on property, plant, and equipment in Q2 2025, consistent with prior quarters indicating ongoing investment requirements.
The company repurchased $480 million of common equity in Q2 2025, reflecting aggressive capital return strategies that reduce cash reserves.
Net cash used in financing activities was high at $606 million in Q2 2025, driven by debt repayments and dividend payments totaling $126 million, potentially pressuring liquidity.

Liquidity and Balance Sheet:

Cash and equivalents increased to $7.89 billion as of Q2 2025, up slightly from $8.11 billion in Q1 2025, indicating a strong liquidity position.
Total assets rose to $53.1 billion in Q2 2025, with common equity increasing to approximately $8.88 billion, reflecting a solid capitalization base.
Current liabilities increased slightly to $33.8 billion as of Q2 2025, highlighting significant short-term obligations the company manages.
Overall, total liabilities grew to $43.1 billion, underlining a substantial leverage level that investors should monitor.

Summary:

GE Vernova has demonstrated a strong turnaround in profitability during 2024 and 2025, with sequential quarterly improvements in net income and earnings per share. The company maintains healthy cash flow but continues to invest heavily in capital expenditures and return capital via share repurchases and dividends. While liquidity remains robust with substantial cash holdings, the high level of liabilities and aggressive financing activity present some risk factors to watch. Investors should weigh the improving operational performance against the continued capital intensity and leverage.

08/09/25 01:24 AMAI Generated. May Contain Errors.

Frequently Asked Questions About GE Vernova's Financials

When does GE Vernova's financial year end?

According to the most recent income statement we have on file, GE Vernova's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has GE Vernova's net income changed over the last 2 years?

GE Vernova's net income appears to be on a downward trend, with a most recent value of $1.56 billion in 2024, falling from -$2.72 billion in 2022. The previous period was -$474 million in 2023. See where experts think GE Vernova is headed by visiting GE Vernova's forecast page.

What is GE Vernova's operating income?

GE Vernova's total operating income in 2024 was $471 million, based on the following breakdown:

Total Gross Profit: $6.09 billion
Total Operating Expenses: $5.61 billion

How has GE Vernova's revenue changed over the last 2 years?

Over the last 2 years, GE Vernova's total revenue changed from $29.65 billion in 2022 to $34.94 billion in 2024, a change of 17.8%.

How much debt does GE Vernova have?

GE Vernova's total liabilities were at $40.89 billion at the end of 2024, a 8.3% increase from 2023, and a 8.3% increase since 2023.

How much cash does GE Vernova have?

In the past 1 years, GE Vernova's cash and equivalents has ranged from $1.55 billion in 2023 to $8.21 billion in 2024, and is currently $8.21 billion as of their latest financial filing in 2024.

How has GE Vernova's book value per share changed over the last 2 years?

Over the last 2 years, GE Vernova's book value per share changed from 0.00 in 2022 to 34.63 in 2024, a change of 3,462.7%.

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This page (NYSE:GEV) was last updated on 8/9/2025 by MarketBeat.com Staff

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GE Vernova (GEV) Financials

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