Industrials · Heavy Electrical Equipment · US stock · price as of 16 Oct 2026
Key indicators
Price
$921.20
52-week range
$529.18 – $1,195.94
Market cap
$248.7B
P/E (trailing)
26.4×
EV / EBITDA
132.5×
Free-cash-flow yield
5.0%
Dividend yield
0.2%
Revenue (last 12 months)
$41.4B
Revenue growth (3y a year)
8.7%
Operating margin
4.3%
Return on invested capital
63.3%
Net debt / EBITDA
-5.2×
Fair value
Blended fair value$864.05 range $638 – $651
Versus priceData under review+0% to fair value
Peer multiples
$984.83
Fundamentals-adjusted multiple
$743.27
10-year DCF (market-scaled)
$204.26
Earnings power value (floor, not blended)
$4.97
Model uncertainty
Medium
X-Ray Score
51/ 100 · Medium confidence · ahead of 48% of sector peers
Valuation42
Growth77
Profitability44
Financial health50
Dividends37
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
GE Vernova is an energy equipment and services company that was separated from General Electric as an independent business. It makes gas turbines and steam equipment for power plants, wind turbines, and electrical gear that helps connect and manage power grids. The company is organised into power, wind and electrification businesses. Customers include utilities, independent power producers, governments and industrial users that build or upgrade electricity generation and grid networks.
The business earns money by supplying large equipment and then servicing it over many years under maintenance agreements. Revenue was $41.4 billion over the last twelve months, growing at 8.7% a year across the last three years, while the operating margin is 4.3%. It earns a profit of 63% on the capital invested in it and has net debt of -5.2 times EBITDA, meaning it holds more cash than debt. The dividend yield is 0.2%.
StocksXray gives GE Vernova Inc. an X-Ray Score of 51 out of 100 (medium confidence), ahead of 48% of the S&P 500 stocks in its sector. Its strongest lens is growth (77) and its weakest is dividends (37).
Our fair value blend is $864.05 (range $638.30 to $650.59). At $921.20 the stock trades 7% above that blend, so the label is "Data under review" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
GE Vernova Inc. (GEV)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2022
FY2023
FY2024
FY2025
Now
Price
–
–
$327.79
$652.36
$921.20
Market cap
–
–
$91.1B
$180.1B
$248.7B
P/E
–
–
58.7×
36.9×
26.4×
EV / revenue
–
–
2.4×
4.5×
5.8×
EV / EBITDA
–
–
178.4×
124.4×
133.2×
Price / free cash flow
–
–
53.6×
48.5×
20.0×
Free-cash-flow yield
–
–
1.9%
2.1%
5.0%
Price / book
–
–
9.5×
16.1×
20.8×
Dividend yield
–
–
0.08%
0.19%
0.19%
Fundamentals checklist ● 7 Good · ● 2 Average · ● 5 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−5.7%Good
Free-cash-flow yield5.0%Good
Risk models
Altman Z score0.1×Bad
Piotroski F-Score6 of 9Average
Growth
Revenue growth (3y)8.7%Good
Growth consistency100%Good
Balance sheet
Current ratio0.8×Bad
Net debt / EBITDA-5.2×Good
Interest coverno interest costGood
Valuation
Fair value vs price0.9×Average
EBIT / EV yield0.7%Bad
Profitability
Return on invested capital63.3%Good
Operating margin4.3%Bad
Gross profitability10.3%Bad
XStocksXray
GE Vernova Inc. (GEV)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY22
FY23
FY24
FY25
LTM
Revenue
29,654
33,239
34,935
38,068
41,368
Gross profit
3,458
4,818
6,085
7,535
8,360
Operating income
-2,881
-923
471
1,388
1,799
Net income
-2,736
-438
1,552
4,884
9,529
Diluted EPS ($)
-10.00
-1.60
5.58
17.69
34.87
Free cash flow
-627
442
1,700
3,710
12,438
Gross margin
11.7%
14.5%
17.4%
19.8%
20.2%
Operating margin
−9.7%
−2.8%
1.3%
3.6%
4.3%
Net margin
−9.2%
−1.3%
4.4%
12.8%
23.0%
Balance sheet
FY22
FY23
FY24
FY25
LTM
Total assets
–
46,121
51,485
63,016
80,800
Cash
2,067
1,551
8,205
8,848
13,120
Total debt
–
145
60
352
2,849
Equity
11,607
7,416
9,546
11,178
11,957
Dividend per share ($)
–
–
0.25
1.25
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.