GE Vernova Inc
gevernova.comWhat Do They Do?
Sells power-generation equipment and electricity-grid systems to utilities, industrial customers and governments.
10-K for FY2025, filed Jan 29, 2026
How Do They Make Money?
Customers pay for customized equipment and construction as work progresses, usually against milestones; standardized equipment is billed around delivery. Long-term service agreements are paid over time, with bills often tied to equipment use or major maintenance; Wind service agreements are invoiced periodically as services are provided.
10-K for FY2025, filed Jan 29, 2026Performance Obligations Satisfied Over Time. We recognize revenue on agreements for the sale of customized goods including power generation…View ↗
Our billing terms for these over-time contracts are generally based on achieving specified milestones; however, we receive progress…View ↗
Our billing terms for these point-in-time equipment contracts generally coincide with delivery to the customer; however, we receive…View ↗
Performance Obligations Satisfied Over Time. We enter into long-term service agreements, which we refer to as contractual service…View ↗
Our billing terms for these arrangements are generally based on the customers’ utilization of the equipment (e.g., per hour of usage) and…View ↗
We also enter into long-term service agreements, which we refer to as flexible service agreements, in our Wind segment. Revenues are…View ↗
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10-K for FY2025, filed Jan 29, 2026
FY2025 revenue by product or service ↗
$38.1B
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10-K for FY2025, filed Jan 29, 2026
$38.1B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Equipment
|
55%
FY2022: 53%
|
Equipment, FY2025
$20.9B Sources
|
|
|
Services
Recurring
10-K for FY2025, filed Jan 29, 2026 |
45%
FY2022: 47%
|
Services, FY2025
$17.1B Sources
|
Recurring |
Who Are Their Customers?
Power-generation customers include utilities, independent power producers, industrial and government customers worldwide.
10-K for FY2025, filed Jan 29, 2026
Do Revenues Turn Into Profits?
Yes. It kept 13 cents of every revenue dollar as net income in FY2025 and turned 10 cents into free cash flow.
10-K for FY2025, filed Jan 29, 2026
$1.4BView ↗
10-K for FY2025, filed Jan 29, 2026
$4.9BView ↗
10-K for FY2025, filed Jan 29, 2026
$3.7BView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Jul 22, 2026
Open tableView ↗
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Aug 27, 2026
CFO Kenneth Parks plans to retire; Claire McDonough will succeed him
Parks will retire on April 2, 2027; McDonough is set to become CFO on January 1, 2027.
Sources
8-K, filed Aug 27, 2026
On August 25, 2026, Kenneth Parks, Chief Financial Officer of GE Vernova Inc. (the "Company"), has decided to retire on April 2, 2027 (the…View ↗
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Jul 22, 2026
GE Vernova raised its 2026 financial guidance
Revenue outlook increased to $45.5-$46.5 billion and free cash flow outlook to $11.5-$12.5 billion.
Sources
8-K, filed Jul 22, 2026
GE Vernova is raising its 2026 financial guidance and now expects revenue of $45.5-$46.5 billion, up from $44.5-$45.5 billion, and free…View ↗
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Feb 4, 2026
GE Vernova acquired the remaining stake in Prolec GE
The acquisition of the remaining 50% stake closed on February 2, 2026.
Sources
8-K, filed Feb 4, 2026
The net proceeds of the Offering are intended to be used for general corporate purposes, including financing a portion of the purchase…View ↗
Who Do They Compete With?
Competes with Siemens Energy, Mitsubishi Power, Westinghouse, Framatome, Rolls-Royce, Vestas, Siemens-Gamesa, Nordex, Envision, Goldwind, Hitachi Energy, Siemens, Schneider Electric, Mitsubishi Electric, and ABB
10-K for FY2025, filed Jan 29, 2026Key Power segment competitors include Siemens Energy, Mitsubishi Power, Westinghouse, Framatome, and Rolls-Royce.View ↗
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