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Relative valuation derived from Industrials sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 31.1GRADE D
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
9.0%
Sector: 8.9%
Dividend Analysis audit
GROWTH
0.12%
Trailing Yield
$0.12
Per $100 Invested
Modest dividend — capital prioritized for reinvestment.
Est. Payout Ratio
26%SAFE
Analyst Projections
Analyst Consensus
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Based on our 6-factor quantitative model, GE Vernova Inc. (GEV) receives a "Hold" rating with a composite score of 44.0/100, ranked #788 out of 4446 stocks. Key factor scores: Quality 31/100, Value 42/100, Momentum 73/100. This is quantitative analysis only — not investment advice.
GE Vernova Inc. (GEV) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does GE Vernova Inc. Do?
GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions. The company was incorporated in 2023 and is based in Cambridge, Massachusetts. GE Vernova Inc. (GEV) is classified as a mega-cap stock in the Industrials sector, specifically within the Electrical Equipment industry. The company is led by CEO Scott L. Strazik and employs approximately 80,000 people, headquartered in CAMBRIDGE, Massachusetts. With a market capitalization of $241.2B, GEV is one of the largest companies in the Industrials sector.
GE Vernova Inc. (GEV) Stock Rating — Hold (April 2026)
As of April 2026, GE Vernova Inc. receives a Hold rating with a composite score of 44.0/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.GEV ranks #788 out of 4,446 stocks in our coverage universe. Within the Industrials sector, GE Vernova Inc. ranks #136 of 752 stocks, placing it in the top quartile of its Industrials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
GEV Stock Price and 52-Week Range
GE Vernova Inc. (GEV) currently trades at $972.01. The stock gained $3.99 (0.4%) in the most recent trading session. The 52-week high for GEV is $894.93, which means the stock is currently trading 8.6% from its annual peak. The 52-week low is $252.25, putting the stock 285.3% above its annual trough. Recent trading volume was 0 shares, suggesting relatively thin trading activity.
Is GEV Overvalued or Undervalued? — Valuation Analysis
GE Vernova Inc. (GEV) carries a value factor score of 42/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 220.60x, compared to the Industrials sector average of 28.33x — a premium of 679%. The price-to-book ratio stands at 19.91x, versus the sector average of 2.23x. The price-to-sales ratio is 6.80x, compared to 0.50x for the average Industrials stock. On an enterprise value basis, GEV trades at 572.10x EV/EBITDA, versus 5.70x for the sector. The EV/EBIT multiple is 85.50x.
Overall, GEV's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.
GE Vernova Inc. Profitability — ROE, Margins, and Quality Score
GE Vernova Inc. (GEV) earns a quality factor score of 31/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is 9.0%, compared to the Industrials sector average of 8.9%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at 1.8% versus the sector average of 3.3%.
On a margin basis, GE Vernova Inc. reports gross margins of 17.5%, compared to 35.8% for the sector. The operating margin is 1.1% (sector: 6.2%). Net profit margin stands at 3.0%, versus 3.9% for the average Industrials stock. Revenue growth is running at 21.5% on a trailing basis, compared to 6.4% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.
GEV Debt, Balance Sheet, and Financial Health
GE Vernova Inc. has a debt-to-equity ratio of 412.0%, compared to the Industrials sector average of 70.0%. This elevated leverage warrants close monitoring, as it increases the company's sensitivity to rising interest rates and economic downturns. The current ratio is 0.98x, which may signal near-term liquidity tightness. Total debt on the balance sheet is $0. Cash and equivalents stand at $8.85B.
GEV has a beta of 1.58, meaning it is more volatile than the broader market — a $10,000 investment in GEV would be expected to move 58.0% more than the S&P 500 on any given day. The stability factor score for GE Vernova Inc. is 48/100, reflecting average volatility within the normal range for its sector.
GE Vernova Inc. Revenue and Earnings History — Quarterly Trend
In TTM 2026, GE Vernova Inc. reported revenue of $36.02B and earnings per share (EPS) of $17.92. Net income for the quarter was $1.11B. Gross margin was 17.5%. Operating income came in at $428M.
In FY 2025, GE Vernova Inc. reported revenue of $38.07B and earnings per share (EPS) of $17.92. Net income for the quarter was $4.88B. Gross margin was 19.8%. Revenue grew 9.0% year-over-year compared to FY 2024. Operating income came in at $1.39B.
In Q3 2025, GE Vernova Inc. reported revenue of $9.97B and earnings per share (EPS) of $1.66. Net income for the quarter was $453M. Gross margin was 19.0%. Revenue grew 11.8% year-over-year compared to Q3 2024. Operating income came in at $366M.
In Q2 2025, GE Vernova Inc. reported revenue of $9.11B and earnings per share (EPS) of $1.89. Net income for the quarter was $492M. Gross margin was 20.3%. Revenue grew 11.1% year-over-year compared to Q2 2024. Operating income came in at $378M.
Over the past 8 quarters, GE Vernova Inc. has demonstrated a growth trajectory, with revenue expanding from $8.20B to $36.02B. Investors analyzing GEV stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
GEV Dividend Yield and Income Analysis
GE Vernova Inc. (GEV) currently pays a dividend yield of 0.1%. At this yield, a $10,000 investment in GEV stock would generate approximately $$12.00 in annual dividend income.
GEV Momentum and Technical Analysis Profile
GE Vernova Inc. (GEV) has a momentum factor score of 73/100, indicating strong price momentum with the stock outperforming the majority of the market over recent periods. Stocks with high momentum scores have historically tended to continue their outperformance in the near term. The investment factor score is 26/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 27/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
GEV vs Competitors — Industrials Sector Ranking and Peer Comparison
Comparing GEV against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full GEV vs S&P 500 (SPY) comparison to assess how GE Vernova Inc. stacks up against the broader market across all factor dimensions.
GEV Next Earnings Date
No upcoming earnings date has been announced for GE Vernova Inc. (GEV) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy GEV? — Investment Thesis Summary
GE Vernova Inc. presents a balanced picture with arguments on both sides. The quality score of 31/100 flags below-average profitability. Price momentum is positive at 73/100, suggesting the trend favors buyers.
In summary, GE Vernova Inc. (GEV) earns a Hold rating with a composite score of 44.0/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on GEV stock.
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Institutional Research Dossier
GE Vernova Inc. (GEV) Deep Dive Analysis
Published on March 24, 2026
Action RatingHold
Sections
Executive Summary
We maintain our Hold rating on GE Vernova (GEV), driven by a mixed assessment of its financial performance and valuation. While the company demonstrates strong revenue growth and operates in a sector with significant tailwinds from the energy transition, its profitability metrics lag its peers, and its valuation appears stretched based on current earnings. The primary concern revolves around whether GEV can translate its top-line growth into sustainable and improved bottom-line performance, justifying its premium valuation.
GEV's future hinges on its ability to execute its strategic initiatives within the Power, Wind, and Electrification segments. The company's success in capturing market share in renewable energy and grid solutions will be crucial. However, the current valuation reflects considerable optimism, leaving limited margin for error in execution. Therefore, a Hold rating is warranted until there is clearer evidence of sustained profitability improvements and a more reasonable valuation.
Business Strategy & Overview
GE Vernova operates across three core segments: Power, Wind, and Electrification. The Power segment focuses on electricity generation through gas, hydro, nuclear, and steam power. This segment is crucial for maintaining grid stability and providing baseload power, even as renewable energy sources grow. The Wind segment manufactures and sells wind turbine blades, directly participating in the expansion of renewable energy capacity. The Electrification segment provides grid solutions, power conversion, solar, and storage solutions, addressing the challenges of integrating renewable energy into existing power grids and enabling energy storage.
GE Vernova's strategic positioning centers on providing comprehensive solutions for the energy transition. This includes not only generating renewable energy but also ensuring the reliability and efficiency of power grids. The company aims to capitalize on the increasing demand for renewable energy and grid modernization driven by government policies, technological advancements, and growing environmental concerns. A key aspect of their strategy involves investing in research and development to improve the efficiency and reliability of their products and services.
The company's product pipeline likely includes advancements in wind turbine technology, such as larger and more efficient turbines, as well as innovations in grid management systems and energy storage solutions. Given the increasing focus on decarbonization, GE Vernova is likely investing in technologies that reduce carbon emissions from its power generation equipment. This could include carbon capture technologies or improvements in the efficiency of gas turbines.
GE Vernova operates in a highly competitive industry, facing competition from established players in the power generation and grid infrastructure sectors, as well as emerging companies specializing in renewable energy technologies. Key competitors include Siemens Energy, Vestas, and ABB. The company's ability to differentiate itself through technological innovation, service offerings, and cost competitiveness will be crucial for its long-term success. The industry is also subject to regulatory changes and government incentives, which can significantly impact the demand for different energy technologies.
Execution Benchmarks audit
Revenue Growth
YOY expansion rate
21.5%
Sector: 6.4%
+237% VS SCTR
Economic Moat Analysis
GE Vernova's economic moat is likely Narrow. While the company possesses some elements of a moat, such as intangible assets and potential switching costs, these are not strong enough to create a Wide moat. The company's brand recognition and technological expertise in power generation and grid solutions represent intangible assets. However, these assets are not necessarily unique or difficult to replicate, as competitors also invest heavily in research and development.
Switching costs may exist for customers who have already invested in GE Vernova's equipment and services. Replacing existing power generation equipment or grid infrastructure can be costly and time-consuming, potentially creating some stickiness. However, these switching costs are not insurmountable, as customers may be willing to switch to competitors if they offer superior technology or lower prices.
The company's scale and global presence could provide some cost advantages. However, these advantages are not necessarily sustainable, as competitors can also achieve economies of scale. Furthermore, the company's profitability metrics suggest that it is not currently leveraging its scale to achieve superior cost efficiency compared to its peers. The gross margin and operating margin are significantly lower than the sector average, indicating potential inefficiencies in its operations.
The energy industry is characterized by intense competition and rapid technological change. This makes it difficult for any single company to maintain a dominant position for an extended period. While GE Vernova has a strong presence in the industry, it faces constant pressure from competitors to innovate and improve its products and services. Therefore, while the company has some competitive advantages, they are not strong enough to create a Wide moat. A Narrow moat reflects the company's ability to generate some economic profits above its cost of capital, but also acknowledges the significant competitive pressures it faces.
Financial Health & Profitability
GE Vernova's financial health presents a mixed picture. The company demonstrates strong revenue growth, with a 21.5% increase compared to the sector average of 6.6%. This indicates that the company is successfully capturing market share and benefiting from the growing demand for its products and services. However, its profitability metrics are significantly lower than the sector average. The gross margin of 17.5%, operating margin of 1.1%, and net margin of 3.0% are all substantially below the sector averages of 35.8%, 6.2%, and 3.7%, respectively. This suggests that the company is struggling to translate its revenue growth into bottom-line profitability.
The company's return on equity (ROE) of 9.0% is slightly below the sector average of 9.2%. This indicates that the company is not generating as much profit from its equity as its peers. The company's debt-to-equity ratio (D/E) is exceptionally high at 412.00, compared to the sector average of 70.00. This suggests that the company is heavily reliant on debt financing, which could increase its financial risk. However, the provided data also indicates that the company has $0.00 in total debt, which contradicts the high D/E ratio. This discrepancy needs further investigation to determine the true extent of the company's leverage.
Analyzing the quarterly financial history reveals some positive trends. The company's revenue has been consistently increasing over the past few quarters. The gross margin and operating margin have also shown some improvement, although they remain below the sector average. The company's net income has fluctuated, with some quarters showing losses. The free cash flow (FCF) data is incomplete, making it difficult to assess the company's cash flow generation capabilities. However, the available data suggests that the company's FCF has been volatile, with negative FCF in FY2023 and Q1 FY2024.
Overall, GE Vernova's financial health is a concern. While the company demonstrates strong revenue growth, its profitability metrics are weak, and its debt levels are uncertain. The company needs to improve its operational efficiency and reduce its reliance on debt financing to improve its financial health. The recent improvements in gross margin and operating margin are encouraging, but it remains to be seen whether these improvements are sustainable.
Valuation Assessment
GE Vernova's valuation appears stretched based on current earnings. The company's price-to-earnings (P/E) ratio is 47.5x, significantly higher than the sector average of 27.7x. This suggests that investors are paying a premium for the company's earnings. The company's enterprise value-to-EBITDA (EV/EBITDA) ratio is 41.3x, substantially higher than the sector average of 5.7x. This indicates that the company is also expensive relative to its earnings before interest, taxes, depreciation, and amortization.
The high valuation could be justified if the company is expected to grow its earnings at a significantly faster rate than its peers. However, the company's profitability metrics suggest that it is struggling to translate its revenue growth into bottom-line profitability. Therefore, it is unclear whether the company can sustain its high valuation based on its current earnings.
The company's free cash flow (FCF) yield cannot be accurately assessed due to incomplete FCF data. However, the available data suggests that the company's FCF has been volatile, with negative FCF in FY2023 and Q1 FY2024. This raises concerns about the company's ability to generate cash flow to support its valuation.
Given the company's high valuation and uncertain profitability, the stock appears to be expensive. The current valuation reflects considerable optimism about the company's future prospects, leaving limited margin for error in execution. A more reasonable valuation would be warranted if the company can demonstrate sustained improvements in its profitability and cash flow generation.
Risk & Uncertainty
GE Vernova faces several specific risks that could impact its business and financial performance. One significant risk is the intense competition in the power generation and grid infrastructure industries. The company faces competition from established players, as well as emerging companies specializing in renewable energy technologies. This competition could put pressure on the company's prices and margins, and could limit its ability to capture market share.
Another risk is the regulatory environment. The energy industry is subject to extensive regulations, which can change rapidly. Changes in regulations could impact the demand for the company's products and services, and could increase its compliance costs. For example, changes in government incentives for renewable energy could impact the demand for wind turbines and solar power solutions.
The company also faces risks related to its supply chain. Disruptions in the supply chain could impact the company's ability to manufacture and deliver its products on time, and could increase its costs. For example, shortages of critical components or raw materials could delay the production of wind turbines or grid infrastructure equipment.
Given the company's high debt-to-equity ratio (if the data is accurate), financial leverage poses a significant risk. High debt levels could increase the company's interest expense and reduce its financial flexibility. This could make it more difficult for the company to invest in research and development or to make acquisitions. If the company experiences financial difficulties, it may be forced to sell assets or to restructure its debt, which could negatively impact its shareholders.
Bulls Say / Bears Say
The Bull Case
BULL VIEWGE Vernova is well-positioned to benefit from the global energy transition, with its diverse portfolio of power generation and grid solutions.
BULL VIEWThe company's strong revenue growth demonstrates its ability to capture market share in the rapidly expanding renewable energy sector.
BULL VIEWGE Vernova's investments in research and development will lead to technological breakthroughs that drive future growth and profitability.
The Bear Case
BEAR VIEWGE Vernova's profitability metrics are significantly lower than its peers, indicating operational inefficiencies and a lack of pricing power.
BEAR VIEWThe company's high valuation reflects excessive optimism and leaves limited margin for error in execution.
BEAR VIEWGE Vernova's high debt-to-equity ratio (if accurate) increases its financial risk and limits its ability to invest in future growth.
About the Author
Marques Blank
Founder & Chief Investment Officer, Blank Capital
Marques brings 15 years of institutional finance and investing experience, having overseen financial planning for a $1.6B defense business unit. He developed the proprietary 6-factor quantitative model used to score GEV and 4,400+ other equities.
GE Vernova Inc. exhibits a 3169% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
1.8%
Sector: 3.3%
Gross Margin
Pricing power and cost efficiency
17.5%
Sector: 35.8%
Operating Margin
Core business profitability
1.1%
Sector: 6.2%
Net Margin
Bottom-line profitability
3.0%
Sector: 3.9%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
Sector Avg Yield0.00%
Yield Delta—
Income Projection audit
A $10,000 investment would generate approximately $12 annually in dividends at the current trailing rate.
