GE Vernova Inc.
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GEV Q4 2025 request
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| Metric | Q4 2025 | Q4 2024 | YoY |
|---|---|---|---|
| Revenue | 10,956 | 10,559 | +3.8% |
Show Product Lines breakouts |
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| Product | 5,963 | 5,851 | +1.9% |
| Product · Electrification | 2,253 | 1,544 | +45.9% |
| Product · Operating Segments | 5,963 | 5,849 | +1.9% |
| Product · Power | 1,871 | 1,662 | +12.6% |
| Product · Wind | 1,838 | 2,643 | -30.5% |
| Service | 4,993 | 4,707 | +6.1% |
| Service · Electrification | 653 | 588 | +11.1% |
| Service · Operating Segments | 4,987 | 4,704 | +6.0% |
| Service · Power | 3,805 | 3,666 | +3.8% |
| Service · Wind | 529 | 451 | +17.3% |
Show Business Segments breakouts |
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| Electrification · Electrification Software | 295 | 271 | +8.9% |
| Electrification · Grid Solutions | 2,029 | 1,436 | +41.3% |
| Electrification · Intersegment Elimination | 53 | 49 | +8.2% |
| Electrification · Operating segments, inclusive of intersegment sales | 2,960 | 2,181 | +35.7% |
| Electrification · Power Conversion & Storage | 636 | 474 | +34.2% |
| Power · Gas Power | 4,620 | 4,499 | +2.7% |
| Power · Hydro Power | 225 | 237 | -5.1% |
| Power · Intersegment Elimination | 73 | 102 | -28.4% |
| Power · Nuclear Power | 378 | 201 | +88.1% |
| Power · Operating segments, inclusive of intersegment sales | 5,748 | 5,431 | +5.8% |
| Power · Steam Power | 524 | 494 | +6.1% |
| Wind · Intersegment Elimination | 0 | 15 | -100.0% |
| Wind · LM Wind Power | 46 | 106 | -56.6% |
| Wind · Offshore Wind | 28 | 194 | -85.6% |
| Wind · Onshore Wind | 2,294 | 2,807 | -18.3% |
| Wind · Operating segments, inclusive of intersegment sales | 2,368 | 3,109 | -23.8% |
Show Consolidation Items breakouts |
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| Intersegment Elimination | 126 | 166 | -24.1% |
| Operating segments, inclusive of intersegment sales | 11,076 | 10,720 | +3.3% |
| Other revenues and elimination of intersegment revenues | -121 | -161 | +24.8% |
| Cost of Revenue | 8,634 | 8,435 | +2.4% |
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| Product | 5,413 | 5,368 | +0.8% |
| Service | 3,221 | 3,067 | +5.0% |
| Gross Profit | 2,322 | 2,123 | +9.4% |
| Research & Development | 365 | 265 | +37.7% |
| Selling, General & Administrative | 1,355 | 1,266 | +7.0% |
| Operating Income | 601 | 593 | +1.3% |
| Other Non-Operating Income (Expense) | 340 | 347 | -2.0% |
| Income Before Taxes | 1,105 | 1,113 | -0.7% |
| Income Tax Expense (Benefit) | -2,565 | 629 | -507.8% |
Show Consolidation Items breakouts |
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| Corporate Non Segment · Financial Services | 7 | 14 | -50.0% |
| Material Reconciling Items | -2,572 | 615 | -518.2% |
| Net Income | 3,670 | 484 | +658.3% |
Show Equity Components breakouts |
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| Noncontrolling Interest | 7 | 0 | — |
| Net Income | 3,664 | 484 | +657.0% |
| Comprehensive Income | 3,695 | -244 | +1614.3% |
| EPS (Basic) | 13.45 | 1.75 | +668.6% |
| EPS (Diluted) | 13.28 | 1.73 | +667.6% |
| Wtd Avg Shares (Basic) | -1 | 1 | -200.0% |
| Wtd Avg Shares (Diluted) | -1 | 1 | -200.0% |
| Net Income Loss Attributable To Noncontrolling Interest | -7 | 0 | — |
| Income Loss From Equity Method Investments | 64 | 9 | +611.1% |
Show Business Segments breakouts |
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| Electrification · Operating Segments | 30 | 45 | -33.3% |
| Power · Operating Segments | 8 | -40 | +120.0% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 26 | 0 | — |
Balance Sheet
| Metric | Q4 2025 | Q4 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Receivables Net Current | 9,803 | 8,177 | +19.9% |
| Inventory | 10,429 | 8,587 | +21.5% |
| Contract With Customer Asset Net Current | 9,294 | 8,621 | +7.8% |
Show Product Lines breakouts |
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| Product | 3,877 | 3,300 | +17.5% |
| Product · Electrification | 1,368 | 1,139 | +20.1% |
| Product · Power | 1,521 | 1,622 | -6.2% |
| Product · Wind | 988 | 538 | +83.6% |
| Service | 5,417 | 5,321 | +1.8% |
| Service · Power | 5,417 | 5,321 | +1.8% |
Show Business Segments breakouts |
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| Electrification | 1,368 | 1,139 | +20.1% |
| Power | 6,938 | 6,944 | -0.1% |
| Wind | 988 | 538 | +83.6% |
| Other Assets Current | 1,445 | 564 | +156.2% |
| Assets Of Disposal Group Including Discontinued Operation Current | 396 | — | — |
| Total Current Assets | 40,216 | 34,153 | +17.8% |
Show Equity Method Investment Nonconsolidated Investee breakouts |
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| Equity Method Investment Nonconsolidated Investee Other | 7,326 | 10,647 | -31.2% |
| Non-Current Assets | |||
| Goodwill | 4,439 | 4,263 | +4.1% |
Show Business Segments breakouts |
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| Electrification · Operating Segments | 808 | 918 | -12.0% |
| Power · Operating Segments | 328 | 310 | +5.8% |
| Wind · Operating Segments | 3,302 | 3,035 | +8.8% |
| Contract And Other Deferred Assets Noncurrent | 378 | 555 | -31.9% |
Show Business Segments breakouts |
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| Electrification | 9 | 11 | -18.2% |
| Power | 368 | 536 | -31.3% |
| Wind | 1 | 8 | -87.5% |
| Deferred Tax Assets | 5,321 | 1,639 | +224.6% |
| Other Non-Current Assets | 4,095 | 2,763 | +48.2% |
| Total Assets | 63,016 | 51,485 | +22.4% |
Show Business Segments breakouts |
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| Electrification · Operating Segments | 9,201 | 7,402 | +24.3% |
| Power · Operating Segments | 26,663 | 24,161 | +10.4% |
| Wind · Operating Segments | 11,444 | 9,970 | +14.8% |
Show Consolidated Entities breakouts |
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| Variable Interest Entity Not Primary Beneficiary | 85 | 90 | -5.6% |
| Variable Interest Entity Not Primary Beneficiary · Financial Services | 27 | 37 | -27.0% |
| Variable Interest Entity Primary Beneficiary | 128 | 111 | +15.3% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 15,709 | 9,952 | +57.8% |
Show Equity Method Investment Nonconsolidated Investee breakouts |
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| Equity Method Investment Nonconsolidated Investee Other | 13,363 | 19,941 | -33.0% |
| Property, Plant & Equipment (Q) | — | — | — |
Show Property Plant And Equipment By Type breakouts |
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| Buildings, structures, and related equipment | 1,349 | 1,339 | +0.7% |
| Equipment leased to others | 225 | 374 | -39.8% |
| Land And Land Improvements | 342 | 323 | +5.9% |
| Leasehold costs and manufacturing plant under construction | 1,225 | 533 | +129.8% |
| Machinery And Equipment | 2,302 | 2,284 | +0.8% |
| Operating Lease Right-of-Use Assets | 788 | 671 | +17.4% |
| Intangible Assets | 727 | 813 | -10.6% |
Show Finite Lived Intangible Assets By Major Class breakouts |
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| Computer Software Intangible Asset | 127 | 165 | -23.0% |
| Customer Related Intangible Assets | 246 | 318 | -22.6% |
| Intellectual Property | 325 | 283 | +14.8% |
| Trademarks & other | 29 | 48 | -39.6% |
| Other Assets | |||
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 8,848 | 8,205 | +7.8% |
| Property Plant And Equipment And Operating Lease Right Of Use Asset After Accumulated Depreciation And Amortization | 6,006 | 5,150 | +16.6% |
| Intangible Assets Net Excluding Goodwill | 727 | 813 | -10.6% |
| Equity Method Investments | 1,834 | 2,149 | -14.7% |
Show Business Segments breakouts |
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| Electrification · Operating Segments | 479 | 743 | -35.5% |
| Power · Operating Segments | 922 | 919 | +0.3% |
| Wind · Operating Segments | 30 | 49 | -38.8% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 403 | 438 | -8.0% |
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts |
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| Aero Alliance | 569 | 544 | +4.6% |
| Hitachi-GE Nuclear Energy | 184 | 184 | 0.0% |
| Other Investees | 697 | 769 | -9.4% |
| Prolec GE | 384 | 251 | +53.0% |
| Current Liabilities | |||
| Accounts Payable And Other Accrued Liabilities Current | 8,809 | 8,602 | +2.4% |
Show Counterparty Name breakouts |
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| Aero Alliance · Related Party | 55 | 24 | +129.2% |
| Deferred Revenue (Current) | 25,774 | 17,587 | +46.6% |
Show Business Segments breakouts |
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| Electrification | 6,449 | 4,034 | +59.9% |
| Power | 16,527 | 9,674 | +70.8% |
| Wind | 2,796 | 3,877 | -27.9% |
| Other Liabilities Current | 6,310 | 5,496 | +14.8% |
| Liabilities Of Disposal Group Including Discontinued Operation Current | 79 | — | — |
| Total Current Liabilities | 40,972 | 31,685 | +29.3% |
Show Equity Method Investment Nonconsolidated Investee breakouts |
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| Equity Method Investment Nonconsolidated Investee Other | 4,953 | 6,906 | -28.3% |
| Non-Current Liabilities | |||
| Deferred Tax Liabilities | 1,162 | 827 | +40.5% |
| Deferred Compensation Liability Classified Noncurrent | 3,171 | 3,264 | -2.8% |
| Other Non-Current Liabilities | 5,416 | 5,116 | +5.9% |
| Total Liabilities | 50,720 | 40,892 | +24.0% |
Show Consolidated Entities breakouts |
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| Variable Interest Entity Primary Beneficiary | 132 | 134 | -1.5% |
Show Equity Method Investment Nonconsolidated Investee breakouts |
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| Equity Method Investment Nonconsolidated Investee Other | 7,781 | 10,631 | -26.8% |
| Operating Lease Liabilities | 661 | 562 | +17.6% |
| Contract With Customer Liability Noncurrent | 175 | 157 | +11.5% |
Show Business Segments breakouts |
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| Electrification | 13 | 16 | -18.8% |
| Power | 20 | 29 | -31.0% |
| Wind | 142 | 112 | +26.8% |
| Stockholders' Equity | |||
| Common Stock | 3 | 3 | 0.0% |
| Additional Paid-In Capital | 9,813 | 9,733 | +0.8% |
| Retained Earnings | 6,154 | 1,611 | +282.0% |
| Treasury Stock Common Value | -3,385 | -43 | -7772.1% |
| Accumulated Other Comprehensive Income | -1,407 | -1,759 | +20.0% |
| Total Stockholders' Equity | 11,178 | 9,546 | +17.1% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 12,296 | 10,593 | +16.1% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment | -247 | -58 | -325.9% |
| Accumulated Gain Loss Net Cash Flow Hedge Parent | 100 | 33 | +203.0% |
| Accumulated Other Comprehensive Income | -1,407 | -1,759 | +20.0% |
| Accumulated Translation Adjustment | -1,260 | -1,734 | +27.3% |
| Additional Paid In Capital | 9,813 | 9,733 | +0.8% |
| Common Stock | 3 | 3 | 0.0% |
| Noncontrolling Interest | 1,118 | 1,047 | +6.8% |
| Retained Earnings | 6,154 | 1,611 | +282.0% |
| Treasury Stock Common | -3,385 | -43 | -7772.1% |
| Total Liabilities & Equity | 63,016 | 51,485 | +22.4% |
| Minority Interest | 1,118 | 1,047 | +6.8% |
Cash Flow Statement
| Metric | YTD Q4 2025 | YTD Q4 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Depreciation & Amortization (Q) | — | — | — |
Show Consolidation Items breakouts |
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| Material Reconciling Items | -230 | -274 | +16.1% |
| Change in Inventory | -386 | 510 | -175.7% |
| Change in Deferred Revenue | 5,600 | 1,139 | +391.7% |
| Net Cash from Operations | 2,479 | 921 | +169.2% |
| Investing Activities | |||
| Other Investing Activities | 105 | -216 | +148.6% |
| Net Cash from Investing | -374 | -175 | -113.7% |
| Financing Activities | |||
| Share Repurchases | -1,075 | -3 | -35733.3% |
| Net Cash from Financing | -1,178 | 163 | -822.7% |
| Supplemental | |||
| Income Taxes Paid | -341 | -324 | -5.2% |
| Other Cash Flow | |||
| Net Change in Cash | 902 | 810 | +11.4% |
Values in millions USD. Source: SEC EDGAR 10-K filing.