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GE Vernova
S&P 500
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$251.3B
Market Cap
36.9
P/E
2.17
PEG
50.7%
ROCE
42.6%
ROE
0.10
D/E
5.6%
OPM
-18.5%
% from 52W High
78
α RS
🔍 GEV is showing a high-conviction setup because it matches 8 of 39 tracked screener presets, Sector RRG has Industrials in the Improving quadrant with the trail still strengthening, and RS Rating is 78. Net: Broad signal stack, not a recommendation. ? Conviction RRG RS Rating
Sources
Conviction 8/39 · Industrials in Improving quadrant · RS Rating 78
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🌏 Global Investor Returns
Currency-adjusted total returns for GEV including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

GE Vernova Inc., an energy company, engages in the provision of various products and services that generate, transfer, orchestrate, convert, and store electricity in the United States, Europe, Asia, the Middle East, and Africa. The company operates through three segments: Power, Wind, and Electrification. The Power segment designs, manufactures, and services gas, nuclear, hydro, and steam technologies. It serves industrial, government, and other customers. The Wind segment offers wind generation technologies, including onshore and offshore wind turbines and blades. The Electrification segment provides grid solutions; power conversion; electrification software; and solar and storage solutions technologies required for the transmission, distribution, conversion, storage, and orchestration of electricity from point of generation to point of consumption. The company was incorporated in 2023 and is headquartered in Cambridge, Massachusetts.

Key Ratios Snapshot
📈 Growth Pattern
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Manager Shares Value % of Fund Period
Tiger Global Management Tiger Global Management LLC 973.0K $849.3M 3.72% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$11.1B
+22% YoY reported; +12% organic
Adjusted EBITDA
$1.2B
+61% YoY
Adjusted EBITDA Margin
11.3%
+340 bps YoY organic
Net Income
$0.6B
Net margin 5.8%; YoY not stated
Orders
$24.2B
+88% YoY organic
What Went Right
  • Total backlog grew to $176B, up $13B sequentially and on track for $200B by 2027.
  • Data center orders in Electrification reached over $5B in H1 2026, more than double full-year 2025.
  • Free cash flow was $5.1B in Q2 and ~$10B YTD, more than 2.5x 2025 results; FCF guidance raised to $11.5-12.5B.
  • Power and Electrification margin expansion: segment EBITDA margins up 320bps and 700bps organically, respectively.
What to Watch
  • Wind remains a drag: Q2 EBITDA loss of $275M, and FY2026 wind EBITDA loss still expected around $400M.
  • US onshore wind orders face permitting delays and 2-3-2 tariff uncertainty; management can't call an inflection point.
  • FCF is expected to be substantially higher in H1 than H2 as large SRA down payments convert to orders, and Q3 is seasonally the lowest services quarter.
  • Gas equipment order dollar-per-kW may be at higher end of +10-20 pts vs Q4 2025 in H2, given mix of aero derivatives and combined-cycle equipment.
Management Guidance
  • Q3 2026: Power revenue +17-19% YoY; Power EBITDA margin ~17-18%.
  • Q3 2026: Electrification revenue $3.8-4.0B; EBITDA margin modestly above Q2's 18.4%.
  • Q3 2026: Wind revenue down low-double-digits YoY; segment EBITDA approximately break-even.
  • FY2026: Revenue raised $1B to $45.5-46.5B; Adjusted EBITDA margin maintained at 12-14%; FCF raised to $11.5-12.5B from $6.5-7.5B.
  • FY2026: Power organic revenue growth 18-20%, Power EBITDA margin 17-19%; Electrification revenue raised to $14.5-15B, EBITDA margin 18-20%; Wind EBITDA loss ~$400M.
Investor Lens
The thesis is stronger after this call. Orders, backlog and data-center demand are accelerating, price/cost dynamics are expanding margins in Power and Electrification, and FCF guidance was raised sharply while keeping EBITDA margin guidance intact. The main offsets are Wind losses and a H2 FCF step-down as SRA down payments convert. Overall, capacity expansion to 20GW annualized in Q3 and 30GW by 2030, combined with $176B backlog, supports multi-year growth.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Q2 orders up 88% to $24.2B; EBITDA $1.2B and FCF $5.1B.
Revenue
Revenue rose 22% reported and 12% organically to $11.1B, driven by Power (+14%) and Electrification (+29% organic). Wind declined 11% and remained the offset.
Profitability
Net income was $0.6B, a 5.8% margin. Adjusted EBITDA grew 61% to $1.2B, translating into an 11.3% adjusted EBITDA margin.
Margins
Adjusted EBITDA margin expanded +340bps organically. Power segment margin rose 320bps to 18.8%, while Electrification expanded 700bps to 18.4%, driven by volume, price and productivity.
Balance Sheet
Ended Q2 with ~$13B cash, up $3B sequentially. Q2 FCF was $5.1B and YTD FCF ~$10B; $4B returned to shareholders YTD.
Key Risks
Wind remains a loss-making drag ($275M EBITDA loss in Q2) with U.S. onshore order visibility hampered by permitting delays and 2-3-2 tariff uncertainty. H2 FCF is expected to be much lower than H1 as large slot-reservation down payments convert to orders.
Outlook
FY2026 revenue guidance was raised to $45.5-46.5B and FCF to $11.5-12.5B, with EBITDA margin held at 12-14%. Q3 sees strong Power and Electrification growth, while Wind revenue declines low-double-digits.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-22
Orders and backlog surged, with Q2 orders up 88% year-over-year and backlog reaching $176 billion. Revenue and margins expanded across Power and Electrification, while Wind remained challenged. 2026 guidance was raised for revenue and free cash flow, reflecting strong demand and execution.
Q1 2026 Q1 2026 2026-04-22
Q1 2026 saw robust order and revenue growth, margin expansion, and record free cash flow, driven by strong demand in Power and Electrification. Guidance for 2026 was raised across revenue, EBITDA, and cash flow, with significant backlog growth and continued investment in capacity and innovation.
Q4 2025 Q4 2025 2026-01-28
Backlog surged to $150 billion with robust order growth in power and electrification, driving a 9% revenue increase and significant margin expansion. 2026 guidance was raised, reflecting the Prolec GE acquisition and continued strong demand, while wind faces headwinds from offshore project delays.
Q3 2025 Q3 2025 2025-10-22
Announced acquisition of Prolec GE's remaining 50% stake for $5.275B, immediately accretive to EBITDA. Q3 saw 10% revenue growth, 600 bps margin expansion, and record backlog, with strong outlook for Electrification and Power. 2025 guidance reaffirmed.
Q2 2025 Q2 2025 2025-07-23
Q2 2025 saw strong growth in orders, revenue, and margins, with Power and Electrification leading and Wind improving but still challenged. Guidance for revenue, EBITDA margin, and free cash flow was raised, supported by a record backlog and robust cash position.
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📊 Analysis Methodology

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
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Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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