GE Vernova Inc.

Listed Company

GEVCIK 0001996810NYSELarge AcceleratedElectronic & Other Electrical Equipment (No Computer Equip)DelawareFY ends Dec 31

Period

FY 2025

Revenue

$38.07B

Net Income

$4.88B

Total Assets

$63.02B

Equity

$11.18B

Shares Out

268.72M

Op. Cash Flow

$4.99B

Business

GE Vernova Inc. is a global leader in the electric power industry that designs, manufactures, delivers, and services technologies to generate, transfer, orchestrate, convert, and store electricity. It offers gas, nuclear, hydro, and steam power equipment; onshore and offshore wind turbines and blades; and grid solutions, power conversion, electrification software, solar, and storage technologies. The company reports results across three business segments: Power, Wind, and Electrification. GE Vernova serves customers worldwide, including utilities, project developers, and large energy users, through direct sales, aftermarket service networks, and digital and supply-chain channels.

Summary from filing dated 2025-02-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Total revenues	38,068	34,935	33,239	29,654
Cost of equipment and services	30,533	28,850	28,421	26,196
Gross profit	7,535	6,085	4,818	3,458
Selling, general, and administrative expenses	4,949	4,632	4,845	5,360
Research and development expenses	1,197	982	896	979
Operating income (loss)	1,388	471	−923	−2,881
Interest and other financial income (charges) net	186	120	−98	−151
Non-operating benefit income	459	536	567	188
Other income (expense) net (Note 19)	795	1,372	324	370
Income (loss) before income taxes	2,828	2,498	−130	−2,474
Provision (benefit) for income taxes (Note 15)	−2,051	939	344	248
Net income (loss)	4,879	1,559	−474	−2,722
Net loss (income) attributable to noncontrolling interests	4	−7	36	−14
Net income (loss) attributable to GE Vernova	4,884	1,552	−438	−2,736
Basic (in dollars per share)	17.92	5.65	−1.6	−10
Diluted (in dollars per share)	17.69	5.58	−1.6	−10
Basic (in shares)	272	275	274	274
Diluted (in shares)	276	278	274	274

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-03-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash, cash equivalents, and restricted cash	8,848	8,205	4,200	1,551	2,067
Current receivables net (Note 4)	9,803	8,177	—	—	—
Inventories, including deferred inventory costs (Note 5)	10,429	8,587	—	8,253	—
Current contract assets (Note 9)	9,294	8,621	—	8,339	—
All other current assets (Note 10)	1,445	564	—	352	—
Assets held for sale (Note 3)	396	0	—	1,444	—
Current assets	40,216	34,153	—	27,428	—
Property, plant, and equipment net (Note 6)	6,006	5,150	—	5,228	—
Goodwill (Note 8)	4,439	4,263	—	4,437	4,164
Intangible assets net (Note 8)	727	813	—	1,042	—
Contract and other deferred assets (Note 9)	378	555	—	621	—
Equity method investments (Note 11)	1,834	2,149	—	3,555	—
Deferred income taxes (Note 15)	5,321	1,639	—	1,582	—
All other assets (Note 10)	4,095	2,763	—	2,228	—
Total assets	63,016	51,485	—	46,121	—
Accounts payable and equipment project payables (Note 12)	8,809	8,602	—	—	—
Contract liabilities and deferred income (Note 9)	25,774	17,587	—	15,074	—
All other current liabilities (Note 14)	6,310	5,496	—	4,352	—
Liabilities held for sale (Note 3)	79	0	—	1,448	—
Current liabilities	40,972	31,685	—	29,306	—
Deferred income taxes (Note 15)	1,162	827	—	382	—
Non-current compensation and benefits	3,171	3,264	—	3,273	—
All other liabilities (Note 14)	5,416	5,116	—	4,780	—
Total liabilities	50,720	40,892	—	37,741	—
Commitments and contingencies (Note 22)	—	—	—	—	—
Common stock, par value $0.01 per share, 1,000,000,000 shares authorized, 269,529,464 and 275,880,314 shares outstanding as of December 31, 2025 and December 31, 2024, respectively	3	3	—	0	—
Additional paid-in capital	9,813	9,733	—	0	—
Retained earnings	6,154	1,611	—	0	—
Treasury common stock, 8,397,266 and 226,290 shares at cost as of December 31, 2025 and December 31, 2024, respectively	−3,385	−43	—	0	—
Accumulated other comprehensive income (loss) net attributable to GE Vernova (Note 16)	−1,407	−1,759	—	−635	—
Total equity attributable to GE Vernova	11,178	9,546	—	7,416	—
Noncontrolling interests	1,118	1,047	—	964	—
Total equity	12,296	10,593	—	8,380	11,607
Total liabilities and equity	63,016	51,485	—	46,121	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Depreciation and amortization of property, plant, and equipment (Note 6)	615	895	724	779
Amortization of intangible assets (Note 8)	238	277	240	1,018
(Gains) losses on purchases and sales of business interests	−185	−1,147	−209	−21
Principal pension plans net (Note 13)	−361	−376	−405	0
Other postretirement benefit plans net (Note 13)	−227	−290	−313	−206
Cash recovered (paid) during the year for income taxes	−830	−623	−2	−91
Decrease (increase) in current receivables	−1,928	−1,297	−839	−870
Decrease (increase) in inventories, including deferred inventory costs	−1,433	−641	−240	−949
Decrease (increase) in current contract assets	−456	−409	113	353
Increase (decrease) in accounts payable and equipment project payables	−105	667	−716	643
Increase (decrease) in contract liabilities and current deferred income	8,019	2,799	2,812	1,282
All other operating activities	−1,187	229	151	302
Cash from (used for) operating activities	4,987	2,583	1,186	−114
Additions to property, plant, and equipment and internal-use software	−1,277	−883	−744	−513
Dispositions of property, plant, and equipment	39	25	60	53
Purchases of and contributions to equity method investments	−87	−114	−83	−393
Sales of and distributions from equity method investments	464	244	232	340
Proceeds from principal business dispositions	60	813	0	0
All other investing activities	47	−122	−199	191
Cash from (used for) investing activities	−755	−37	−734	−322
Net increase (decrease) in borrowings of maturities of 90 days or less	0	−23	16	15
Transfers from (to) Parent	0	2,933	−361	947
Dividends paid to stockholders	−275	0	0	—
Purchases of common stock for treasury	−3,316	−43	0	—
All other financing activities	−221	785	−63	−151
Cash from (used for) financing activities	−3,813	3,652	−408	811
Effect of currency exchange rate changes on cash, cash equivalents, and restricted cash	224	−147	22	−87
Increase (decrease) in cash, cash equivalents, and restricted cash, including cash classified within assets held for sale	644	6,051	66	288
Less: Net increase (decrease) in cash classified within assets held for sale	2	−603	582	21
Increase (decrease) in cash, cash equivalents, and restricted cash	643	6,654	−516	267
Cash paid during the year for interest	−53	−74	−83	−77

Filings

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