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GE Vernova Inc.
(NYSE:GEV)
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Rating:77Outperform
Price Target:
$1,224.00
▲(20.62% Upside)
Action:Reiterated
Date:07/22/26
The score is driven primarily by strong operating momentum and a bullish earnings-call setup (raised revenue and sharply higher free cash flow guidance, backed by order/backlog strength and margin expansion). Financials show a meaningful turnaround with manageable leverage, but the rating is held back by cash-flow volatility/earnings-quality signals and persistent Wind losses. Technicals are constructive but not strongly overbought, while valuation looks demanding with a low dividend yield.
Positive Factors
Large Backlog & Order Momentum
A $176B backlog and Q2 bookings up 88% supply multiyear revenue visibility that supports durable production plans, service annuities, and margin leverage. Large contracted equipment and services reduce near-term demand exposure and allow operational scaling and disciplined capital allocation.
Negative Factors
Wind Segment Losses
Sustained weakness and material losses in Wind depress consolidated profitability and cash conversion. Persistent project losses and reduced onshore orders mean Wind is a recurring drag that could limit company-wide margin improvement and require continued capital or restructuring to return to breakeven.
Read all positive and negative factors
Positive Factors
Negative Factors
Large Backlog & Order Momentum
A $176B backlog and Q2 bookings up 88% supply multiyear revenue visibility that supports durable production plans, service annuities, and margin leverage. Large contracted equipment and services reduce near-term demand exposure and allow operational scaling and disciplined capital allocation.
Read all positive factors
GE Vernova Inc. Key Performance Indicators (KPIs)
Any
Revenue By Segment
Breaks down overall revenue by business segment, offering a comprehensive view of which areas are driving growth and contributing most to the company's financial performance.
Breaks down overall revenue by business segment, offering a comprehensive view of which areas are driving growth and contributing most to the company's financial performance.
Data provided by:
The Fly
The FlyGE Vernova Inc. (GEV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$263.75B
Dividend Yield0.18%
Average Volume (3M)2.96M
Price to Earnings (P/E)28.1
Beta (1Y)1.34
Revenue Growth12.85%
EPS Growth738.05%
CountryUS
Employees75,000
SectorIndustrials
Sector Strength72
IndustryRenewable Utilities
Share Statistics
EPS (TTM)35.25
Shares Outstanding266,333,600
10 Day Avg. Volume2,958,438
30 Day Avg. Volume2,962,740
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)15.90
Price to Sales (P/S)4.67
P/FCF Ratio47.90
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$1,268.53Price Target Upside25.01% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering21
EPS Forecast (FY)30.75
Revenue Forecast (FY)$46.18B
GE Vernova Inc. Business Overview & Revenue Model
Company Description
GE Vernova Inc. (GEV) is an energy company focused on power generation, grid electrification, and decarbonization technologies. The company operates through segments that include Power (gas power and related services), Wind (onshore and offshore w...
How the Company Makes Money
GE Vernova makes money primarily by selling energy equipment and related lifecycle services across its power, electrification/grid, and renewable energy activities. Key revenue streams generally include: (1) Equipment and systems sales: revenue fr...
GE Vernova Inc. Earnings Call Summary
Earnings Call Date:Jul 22, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 28, 2026
Earnings Call Sentiment Positive
The call presented a strong positive operational and financial trajectory: substantial order and backlog growth, large expansion in adjusted EBITDA and free cash flow, raised full-year guidance, and meaningful progress in capacity expansion and product development (Electrification, HA fleet, SST prototypes). Key near-term challenges center on the Wind business (weaker onshore orders, tariff and permitting uncertainty, offshore project costs) and the seasonality of services. Overall, the company emphasized disciplined capital allocation, margin expansion, and continued investments to meet accelerating electricity demand.Positive Updates
Orders and Backlog Growth
Total bookings of $24.2 billion in 2Q26, up 88% year-over-year, with a book-to-bill slightly above 2x. Total backlog reached $176 billion (up $13 billion sequentially) with equipment backlog at $88 billion (≈77% YoY growth) and services backlog at $88 billion (≈12% YoY growth).
Negative Updates
Wind Orders and Revenue Weakness
Wind orders declined 40% YoY in 2Q26, primarily due to lower onshore equipment orders (North America). Wind revenue decreased 11% YoY; 2Q wind EBITDA loss was $275 million and full-year wind EBITDA losses expected to be ~ $400 million.
Read all updates
Q2-2026 Updates
Positive
Negative
Orders and Backlog Growth
Total bookings of $24.2 billion in 2Q26, up 88% year-over-year, with a book-to-bill slightly above 2x. Total backlog reached $176 billion (up $13 billion sequentially) with equipment backlog at $88 billion (≈77% YoY growth) and services backlog at $88 billion (≈12% YoY growth).
Read all positive updates
Company Guidance
GE Vernova raised 2026 revenue guidance to $45.5–$46.5B (up $1B), kept adjusted EBITDA margin guidance at 12%–14%, and raised free cash flow guidance to $11.5–$12.5B (from $6.5–$7.5B), while planning ~30% year-over-year higher combined R&D and CapEx, targeting $450–$500M of corporate costs, and expecting completed restructuring to yield ~$250M annual savings as part of a $600M G&A reduction goal by 2028. By segment, Power is now expected to achieve 18%–20% organic revenue growth with EBITDA margins of 17%–19% (Q3 Power revenue growth guided to 17%–19% and Q3 margin ~17%–18%); Electrification revenue was raised $500M to $14.5–$15B with EBITDA margins of 18%–20% (Q3 Electrification revenue $3.8–$4.0B); Wind is expected to be down low double-digits in organic revenue with ~ $400M of EBITDA losses for 2026 (Q3 Wind revenue down low double-digits, Q3 EBITDA ~ break‑even). Management expects adjusted EBITDA and revenue to be second‑half weighted with highest results in 4Q26, at least 125 GW under contract by year‑end, an increase to a 20 GW annualized gas production run rate starting this quarter (targeting 24 GW in 2028 and 30 GW by 2030), and is supporting guidance with a $176B backlog ($88B equipment, $88B services), Q2 orders of $24.2B (up 88% YoY, book‑to‑bill >2x), Q2 adjusted EBITDA of $1.2B (up 61% YoY, +340 bps margin expansion), and Q2 free cash flow of $5.1B (working capital benefit of $6.4B).GE Vernova Inc. Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
78
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 41.37B | 38.07B | 34.94B | 33.24B | 29.65B |
| Gross Profit | 8.36B | 7.54B | 6.31B | 4.82B | 3.46B |
| EBITDA | 8.66B | 3.68B | 3.56B | 932.00M | -526.00M |
| Net Income | 9.53B | 4.88B | 1.55B | -438.00M | -2.74B |
Balance Sheet | |||||
| Total Assets | 80.80B | 63.02B | 51.48B | 46.12B | 44.47B |
| Cash, Cash Equivalents and Short-Term Investments | 13.12B | 8.85B | 8.21B | 1.55B | 2.07B |
| Total Debt | 3.96B | 0.00 | 1.62B | 1.71B | 1.66B |
| Total Liabilities | 67.69B | 50.72B | 40.89B | 37.74B | 32.86B |
| Stockholders Equity | 11.96B | 11.18B | 9.55B | 7.42B | 10.65B |
Cash Flow | |||||
| Free Cash Flow | 12.44B | 3.71B | 1.70B | 442.00M | -627.00M |
| Operating Cash Flow | 14.14B | 4.99B | 2.58B | 1.19B | -114.00M |
| Investing Cash Flow | -4.60B | -755.00M | -37.00M | -734.00M | -322.00M |
| Financing Cash Flow | -4.25B | -3.81B | 3.65B | -408.00M | 811.00M |
GE Vernova Inc. Technical Analysis
Positive
1014.75
Price Trends
1023.39
Negative
1004.60
Positive
841.73
Positive
Market Momentum
-15.08
Positive
49.53
Neutral
78.90
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GEV, the sentiment is Positive. The current price of 1014.75 is below the 20-day moving average (MA) of 1023.47, below the 50-day MA of 1023.39, and above the 200-day MA of 841.73, indicating a neutral trend. The MACD of -15.08 indicates Positive momentum. The RSI at 49.53 is Neutral, neither overbought nor oversold. The STOCH value of 78.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GEV.
GE Vernova Inc. Risk Analysis
GE Vernova Inc. disclosed 2 risk factors in its most recent earnings report. GE Vernova Inc. reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
GE Vernova Inc. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $263.75B | 28.09 | 83.40% | 0.17% | 12.85% | 738.05% | |
75 Outperform | $181.31B | 19.45 | 16.82% | 2.65% | 11.83% | 55.48% | |
65 Neutral | $94.35B | 22.83 | 20.07% | 0.59% | 14.87% | 21.10% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
57 Neutral | $2.27B | 20.41 | 8.54% | ― | 30.87% | 121.64% | |
53 Neutral | $6.51B | 793.25 | 0.05% | 5.69% | 2.59% | -92.25% | |
48 Neutral | $6.08B | -1.28 | 243.54% | 3.84% | -2.38% | -301.98% |
* Industrials Sector Average
GEV
GE Vernova Inc.
1,017.96
354.92
53.53%
NEE
NextEra Energy
85.91
17.35
25.32%
CWEN
Clearway Energy
31.18
2.46
8.58%
BEPC
Brookfield Renewable
33.30
0.58
1.76%
RNW
ReNew Energy Global
6.11
-1.33
-17.88%
CEG
Constellation Energy Corporation
265.12
-71.57
-21.26%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.