GEV (GE Vernova Inc.) Stock Financials & Earnings

Company Info & Key Metrics

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,...

CEOScott L. Strazik

Country🇺🇸 United States

ExchangeNYSE

IPOMar 27, 2024

www.gevernova.com

Revenue$11.0B

YoY Growth+3.8%

QoQ Growth+9.9%

Net Income$3.7B

EPS$13.28

Free Cash Flow$1.8B

Gross Margin21.2%

Op. Margin5.5%

Net Margin33.4%

FCF Margin16.5%

Rev Multiple (TTM)6.0x

P/E Ratio (TTM)46.6x

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$6.8B	$919M	-$469M
Q2 23	$8.1B	$1.1B	-$341M
Q3 23	$8.3B	$1.1B	-$307M
Q4 23	$10.0B	$1.7B	$97M
Q1 24	$7.3B	$1.1B	-$289M
Q2 24	$8.2B	$1.7B	$527M
Q3 24	$8.9B	$1.1B	-$359M
Q4 24	$10.6B	$2.1B	$593M
Q1 25	$8.0B	$1.5B	$76M
Q2 25	$9.1B	$1.8B	$378M
Q3 25	$10.0B	$1.9B	$366M
Q4 25	$11.0B	$2.3B	$601M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	6.9x	—
Q1 24	6.8x	—
Q2 24	6.7x	209.2x
Q3 24	6.6x	195.8x
Q4 24	6.5x	146.8x
Q1 25	6.4x	117.7x
Q2 25	6.2x	197.0x
Q3 25	6.0x	133.7x
Q4 25	6.0x	46.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$690M	-$814M
Q2 23	-$288M	-$447M
Q3 23	$233M	$52M
Q4 23	$1.9B	$1.7B
Q1 24	-$444M	-$661M
Q2 24	$979M	$822M
Q3 24	$1.1B	$968M
Q4 24	$921M	$571M
Q1 25	$1.2B	$975M
Q2 25	$367M	$194M
Q3 25	$980M	$733M
Q4 25	$2.5B	$1.8B

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$124M
Q2 23	$159M
Q3 23	$181M
Q4 23	$280M
Q1 24	$217M
Q2 24	$157M
Q3 24	$159M
Q4 24	$350M
Q1 25	$186M
Q2 25	$173M
Q3 25	$247M
Q4 25	$671M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 24	+6.4%	+3.5%
Q2 24	+1.0%	-9.3%
Q3 24	+8.0%	+8.3%
Q4 24	+5.1%	+0.2%
Q1 25	+10.8%	+5.5%
Q2 25	+11.1%	+13.8%
Q3 25	+11.8%	+3.6%
Q4 25	+3.8%	+3.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	-$54M	-0.6%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 23	$202M	$1.2B
Q2 23	$216M	$1.3B
Q3 23	$223M	$1.1B
Q4 23	$255M	$1.3B
Q1 24	$237M	$1.2B
Q2 24	$237M	$938M
Q3 24	$243M	$1.2B
Q4 24	$265M	$1.3B
Q1 25	$239M	$1.2B
Q2 25	$282M	$1.2B
Q3 25	$310M	$1.2B
Q4 25	$366M	$1.4B

Revenue Segments

Quarter	Product	Service
Q1 24	$3.6B	$3.6B
Q2 24	$4.2B	$4.0B
Q3 24	$5.3B	$3.6B
Q4 24	$5.9B	$4.7B
Q1 25	$4.2B	$3.8B
Q2 25	$4.9B	$4.2B
Q3 25	$5.9B	$4.1B
Q4 25	$6.0B	$5.0B

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 23	$1.6B	$0	$1.6B
Q1 24	$3.3B	$0	$3.3B
Q2 24	$5.8B	$0	$5.8B
Q3 24	$7.4B	$0	$7.4B
Q4 24	$8.2B	$0	$8.2B
Q1 25	$8.1B	$0	$8.1B
Q2 25	$7.9B	$0	$7.9B
Q3 25	$7.9B	$0	$7.9B
Q4 25	$8.8B	$0	$8.8B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	274M	—
Q2 23	272M	-0.7%
Q3 23	272M	+0.0%
Q4 23	272M	+0.0%
Q1 24	272M	+0.0%
Q2 24	278M	+2.2%
Q3 24	275M	-1.1%
Q4 24	278M	+1.1%
Q1 25	279M	+0.4%
Q2 25	276M	-1.1%
Q3 25	275M	-0.4%
Q4 25	276M	+0.4%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 21	—	—
FY 22	—	—
FY 23	—	—
FY 24	$466K	75K
FY 25	$508K	75K