Start here if you're new
what it is
GE Vernova makes the machines and grid gear that generate, move, and control electricity.
how it gets paid
Last year Ge Vernova made $38.1B in revenue. Power was the main engine at $19.4B, or 51% of sales.
why it's growing
Revenue grew 9.0% last year. Revenue was $27.1B, up 172% vs. prior year, and gross margin was 19.2%.
what just happened
GE Vernova's latest quarter posted $13.39 EPS versus a $3.09 estimate.
At a glance
B++ balance sheet — above average — nothing keeping you up at night
49.8x trailing p/e — you're paying up for this one
0.3% dividend yield — cash in your pocket every quarter
29.0% return on capital — every dollar works hard here
$22.50 fy2027 eps est
xvary composite: 60/100 — average
What they do
GE Vernova makes the machines and grid gear that generate, move, and control electricity.
Your grid does not swap vendors like your phone does. Installed base (gear already sold and running) keeps replacement orders coming. Management says about 25% of the world's electricity uses its technology, and 75,000 employees keep the field service machine moving.
How they make money
$38.1B
annual revenue · their business grew +9.0% last year
Power
$19.4B
Wind
$10.3B
Electrification
$8.4B
The products that matter
gas turbine manufacturing and service
Gas Power
$19.8B · +12% growth
This $19.8B segment is the profit engine. It is where the data-center power buildout meets equipment demand.
largest segment
wind turbine manufacturing and service
Wind
$12.2B · +5% growth
This $12.2B segment is the drag. Management can talk about the future all it wants, but today's 3.7% operating margin says wind still weighs on the whole company.
margin drag
grid equipment and software
Electrification
$6.1B · +8% growth
This $6.1B segment is smaller, but it matters because grid upgrades tend to stick around for years once spending starts.
grid tailwind
Key numbers
49.8x
price / profit
You are paying $49.80 for $1 of trailing profit. That leaves very little room for disappointment.
$38.1B
annual sales
Revenue grew 9.0% vs. prior year. That is solid growth for a company already worth about $238B.
29.0%
capital return
For every $100 tied up in the business, GE Vernova generates about $29 in return on capital. Heavy equipment does not usually print that kind of math.
9.5%
operating margin
Only 9.5 cents of every dollar survives operating costs. The stock price is doing a lot of the work here.
Financial health
B++
strength
- balance sheet grade B++ — above average financial health
- risk rank 3 — safer than 50% of stocks
- net profit margin 12.5% — keeps 12 cents of every dollar in revenue
- return on equity 32% — $0.32 profit for every $1 investors have put in
B++ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for GEV right now.
source: institutional data · return history unavailable
What just happened
beat estimates
GE Vernova's latest quarter posted $13.39 EPS versus a $3.09 estimate.
Revenue was $27.1B, up 172% vs. prior year, and gross margin was 19.2%. The quarter was driven by strong demand, not by a small beat on a quiet business.
$10B
revenue
$13.39
eps
19.2%
gross margin
the number that mattered
The $13.39 EPS print versus $3.09 expected was the whole quarter. That is a 333.33% beat, and it says demand is not the problem.
-
ge vernova has become a darling of wall street.
-
most of the attention is due to the company’s being a major supplier to the ai sector.the new multi-billion data centers that are being planned and constructed require vast amounts of electricity. because there aren’t many local utilities that have sufficient generating capacity to power these facilities, the firms building the centers must also construct base load units that generate the needed electricity.
-
as a manufacturer of giant turbines that are fueled by natural gas, ge vernova is seeing a surge in orders for its products.
-
as a result, the company’s market capitalization is greater than a quarter of a trillion dollars.
-
the outlook remains bright.
source: company earnings report, 2026
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What could go wrong
Your #1 risk is wind losses delaying margin repair.
med
Wind is still the drag
Wind generated $12.2B in revenue, but the company-wide operating margin still sits at 3.7%. That tells you the weaker segment is still diluting the parts investors actually want.
If Wind keeps absorbing investment without better profitability, the rerating has less room to keep running.
med
Guidance now has to be met
Management lifted 2026 revenue guidance to $44–$45B from $41–$42B. That helped justify the stock's current enthusiasm. Missing that higher bar would matter more now than it would have a year ago.
At 49.8x trailing earnings, a growth miss is not a small paperwork issue. It challenges the valuation directly.
med
Ordinary-course claims can still get expensive
The annual report says the company is regularly subject to lawsuits and regulatory actions in the ordinary course of business. For an industrial company with global projects, that is normal. It is still not free.
You should treat this as a margin and cash-flow nuisance risk, not the main thesis driver.
A stock at $881.18 and 49.8x trailing earnings does not need disaster to get hit. It just needs margin improvement to stay theoretical for too long.
source: institutional data · regulatory filings · risk analysis
Pay attention to
the number that mattered
2026 revenue guidance
Management now says $44–$45B for 2026. If quarterly results stop supporting that path, the premium multiple gets harder to defend.
trend
Operating margin versus the story
The stock narrative is accelerating. The operating margin is still 3.7%. You want those two lines moving in the same direction next.
calendar
Xcel Energy turbine reservation
Feb 2026 brought a reservation agreement for five F-class gas turbines. That is exactly the kind of order flow investors are paying for.
integration
Prolec GE acquisition follow-through
GE Vernova completed the Prolec GE acquisition in Feb 2026. The strategic logic is clear. What you need next is evidence that the grid portfolio actually gets stronger, not just larger.
Analyst rankings
street stance
positive
The 3–5 year midpoint target is $1,100 versus a current price of $881.18. In human-speak, analysts still think earnings growth can catch up to the rerating.
valuation tolerance
high
A 49.8x trailing p/e is not a cheap-industrial setup. It tells you the street is looking past today's margin profile and underwriting a much better one.
income appeal
low
The dividend yield is 0.3%. If you own this stock, you own a capital-appreciation thesis, not a paycheck.
source: institutional data
Institutional activity
institutions have been net buying for 3 consecutive quarters — 1,266 buyers vs. 745 sellers in 4q2025. total institutional holdings: 0.2B shares. net buying for 3 quarters.
source: institutional data
Price targets
3-5 year target range
$306
$1187
$881
current price
$1100
target midpoint · +25% from current · 3-5yr high: $1320 (+50% · 11% ann'l return)
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