GEV
GE Vernova Inc.
GEV's fundamentals are strong and it looks cheap: trading at 22x earnings, about a third of its usual 60x. Analysts expect strong earnings growth, though they disagree widely on how much.
GEV Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Strong |
GEV's revenue, profitability, cash flow and balance sheet are all currently healthy.
GEV PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 22x | $818 | — |
| Cheap | 30x | $1,152 | +41% |
| Forward | 34x | $818 | — |
| Fair | 60x | $2,274 | +178% |
| Expensive | 101x | $3,837 | +369% |
Historical ranges are pointers, not guarantees.
GEV's PE is in its cheap range at 22x. On analysts' estimates for next year's earnings, today's price would be 34x.
GEV Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for GEV, with profitability improving. However, they disagree widely on these estimates.
GEV Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $24.09 | -37% |
| Q3 2026 | $38.00 | +517% |
| Q2 2026 | $34.83 | +735% |
| Q1 2026 | $34.22 | +392% |
| Q4 2025 | $17.69 | +217% |
| Q3 2025 | $6.16 | +48% |
| Q2 2025 | $4.17 | +6.9% |
| Q1 2025 | $6.96 | +$8.26 |
| Q4 2024 | $5.58 | +$7.55 |
GEV's earnings per share have climbed steadily: $38.00 over the past year, about six times what it earned the year before, and higher year over year every quarter since late 2024.
GEV Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $12.6B | +27% |
| Q2 2026 | $11.1B | +22% |
| Q1 2026 | $9.3B | +16% |
| Q4 2025 | $11B | +3.8% |
| Q3 2025 | $10B | +12% |
| Q2 2025 | $9.1B | +11% |
| Q1 2025 | $8B | +11% |
| Q4 2024 | $10.6B | +5.1% |
GEV's revenue has grown year over year every quarter since early 2024: $12.6B last quarter, up 27% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 11% | +7.4 points |
| Q2 2026 | 5.9% | +1.7 points |
| Q1 2026 | 1.9% | +1.4 points |
| Q4 2025 | 5.5% | -0.1 points |
| Q3 2025 | 3.7% | +7.7 points |
| Q2 2025 | 4.2% | -2.3 points |
| Q1 2025 | 0.5% | +4.5 points |
| Q4 2024 | 5.6% | +4.7 points |
GEV's operating margin was 11% last quarter, up 7.4 points from the same quarter a year ago, near the top of its range since 2023.
GEV Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $5.4B | +638% |
| Q2 2026 | $5.1B | +2532% |
| Q1 2026 | $4.8B | +391% |
| Q4 2025 | $1.8B | +217% |
| Q3 2025 | $733M | -24% |
| Q2 2025 | $194M | -76% |
| Q1 2025 | $975M | +$1.6B |
| Q4 2024 | $571M | -65% |
GEV generated $17.1B in free cash flow over the past year, about seven times what it generated the year before.
GEV Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.7% | -2M shares |
| 1 year | -2.5% | -7M shares |
| 3 years | -1.5% | -4.1M shares |
GEV has 268M diluted shares, down 2.5% from a year ago, with $6.4B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $1.6B |
| Q2 2026 | $2.4B |
| Q1 2026 | $1.3B |
| Q4 2025 | $1.1B |
| Q3 2025 | $660M |
| Q2 2025 | $480M |
| Q1 2025 | $1.1B |
| Q4 2023 | — |
GEV spent $6.4B buying back its own shares over the past year.
GEV Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -3.3x | Net Cash |
| Q2 2026 | -3.4x | Net Cash |
| Q1 2026 | -2.9x | Net Cash |
| Q4 2025 | -3.9x | Net Cash |
| Q3 2025 | -3.5x | Net Cash |
| Q2 2025 | -4.6x | Net Cash |
| Q1 2025 | -4.2x | Net Cash |
| Q4 2024 | -5.0x | Net Cash |
GEV has more cash than debt.
GEV Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.9 | Neutral |
| Stochastic | 15.8 | Oversold |
GEV's weekly RSI is 42 (neutral) and its Stochastic is 16 (oversold).
GEV PE vs Utilities Sector
| Metric | GEV | Sector median | Relative |
|---|---|---|---|
| PE | 22x | 20x | 5.5% above |
| PE % | 1 | 60 | 59 pts below |
GEV is trading at 22x earnings, in line with the Utilities sector's median of 20x.
GEV Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $892.2 | 8.3% below |
| 20 week MA | $958.4 | 15% below |
| 50 week MA | $899.5 | 9% below |
| 100 week MA | $687.7 | 19% above |
GEV has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 19% above its 100-week average.
GEV Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $136.8 | $333.8 | +144% |
| 2025 | $333.8 | $663.5 | +99% |
| 2026 YTD | $663.5 | $818.5 | +23% |
GEV has finished every year since 2024 higher, and it's up 23% so far in 2026.