GEV financial statements

The full income statement, balance sheet, and cash-flow statement for GE Vernova Inc. (GEV), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 274.8M2024-09 275.7M2024-12 275.9M2025-03 272.9M2025-06 272.2M2025-09 271.3M2025-12 269.5M2026-03 268.7M2026-06 266.3M-3.1% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22
Revenue	38.1B YoY+9.0%	34.9B YoY+5.1%	33.2B YoY+12.1%	29.7B
	7.54B YoY+23.8%	6.08B YoY+26.3%	4.82B YoY+39.3%	3.46B
Cost of revenue	30.5B YoY+5.8%	28.9B YoY+1.5%	28.4B YoY+8.5%	26.2B
Research & development	1.20B YoY+21.9%	982M YoY+9.6%	896M YoY-8.5%	979M
Selling, general & administrative	4.95B YoY+6.8%	4.63B YoY-4.4%	4.84B YoY-9.6%	5.36B
Restructuring	176M YoY+1.7%	173M YoY-19.9%	216M YoY+94.6%	111M
Amortization of intangibles	238M YoY-14.1%	277M YoY+15.4%	240M YoY-76.4%	1.02B
Provision for credit losses	2.00M YoY-93.9%	33.0M YoY+571.4%	-7.00M YoY-177.8%	9.00M
Operating income	1.39B YoY+194.7%	471M YoY+151.0%	-923M YoY+68.0%	-2.88B
Other non-operating income	795M YoY-42.1%	1.37B YoY+323.5%	324M YoY-12.4%	370M
Equity-method income	269M YoY+407.5%	53.0M YoY+182.8%	-64.0M YoY-206.7%	60.0M
Pre-tax income	2.83B YoY+13.2%	2.50B YoY+2021.5%	-130M YoY+94.7%	-2.47B
Income tax	-2.05B YoY-318.4%	939M YoY+173.0%	344M YoY+38.7%	248M
	4.88B YoY+214.7%	1.55B YoY+454.3%	-438M YoY+84.0%	-2.74B
Net income to non-controlling interest	-4.00M YoY-157.1%	7.00M YoY+119.4%	-36.0M YoY-357.1%	14.0M
	$17.69 YoY+217.0%	$5.58 YoY+448.8%	-$1.60 YoY+84.0%	-$10.00
EPS (basic)	$17.92 YoY+217.2%	$5.65 YoY+453.1%	-$1.60 YoY+84.0%	-$10.00
	272M YoY-1.1%	275M YoY+0.4%	274M YoY+0.0%	274M
	276M YoY-0.7%	278M YoY+1.5%	274M YoY+0.0%	274M
Dividends per share	$1.25 YoY+400.0%	$0.25	—	—
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22
	40.2B YoY+17.8%	34.2B YoY+24.5%	27.4B	—
Cash & equivalents	8.85B YoY+7.8%	8.21B YoY+429.0%	1.55B YoY-25.0%	2.07B
Accounts receivable	9.80B YoY+19.9%	8.18B	—	—
Inventory	10.4B YoY+21.5%	8.59B YoY+4.0%	8.25B	—
Other current assets	1.45B YoY+156.2%	564M YoY+60.2%	352M	—
	63.0B YoY+22.4%	51.5B YoY+11.6%	46.1B	—
Operating lease right-of-use	788M YoY+17.4%	671M YoY+0.4%	668M	—
Goodwill	4.44B YoY+4.1%	4.26B YoY-3.9%	4.44B YoY+6.6%	4.16B
Intangible assets	727M YoY-10.6%	813M YoY-22.0%	1.04B	—
Deferred tax assets	5.32B YoY+224.6%	1.64B YoY+3.6%	1.58B	—
Other non-current assets	4.09B YoY+48.2%	2.76B YoY+24.0%	2.23B	—
	41.0B YoY+29.3%	31.7B YoY+8.1%	29.3B	—
Accounts payable	5.72B YoY+15.2%	4.97B	—	—
Deferred revenue	25.8B YoY+46.6%	17.6B YoY+16.7%	15.1B	—
Short-term & current debt	63.0M YoY+5.0%	60.0M YoY-58.6%	145M	—
Current lease liability	183M YoY+12.3%	163M YoY-15.5%	193M	—
Other current liabilities	6.31B YoY+14.8%	5.50B YoY+26.3%	4.35B	—
Finance lease liability (current)	24.0M YoY+33.3%	18.0M YoY-33.3%	27.0M	—
	50.7B YoY+24.0%	40.9B YoY+8.3%	37.7B	—
Long-term debt	265M	—	—	—
Deferred revenue (non-current)	175M YoY+11.5%	157M YoY-9.2%	173M	—
Non-current lease liability	661M YoY+17.6%	562M YoY+7.0%	525M	—
Operating lease liability (total)	843M YoY+16.3%	725M YoY+1.0%	718M	—
Finance lease liability (total)	278M YoY+4.5%	266M YoY-14.5%	311M	—
Finance lease liability	254M YoY+2.4%	248M YoY-12.7%	284M	—
Deferred tax liabilities	1.16B YoY+40.5%	827M YoY+116.5%	382M	—
Other non-current liabilities	5.15B YoY+0.7%	5.12B YoY+7.0%	4.78B	—
	11.2B YoY+17.1%	9.55B YoY+28.7%	7.42B YoY-36.1%	11.6B
Common stock	3.00M YoY+0.0%	3.00M	0.00	—
Additional paid-in capital	9.81B YoY+0.8%	9.73B	0.00	—
Retained earnings	6.15B YoY+282.0%	1.61B	0.00	—
Treasury stock	3.38B YoY+7772.1%	43.0M	0.00	—
Accumulated other comprehensive income	-1.41B YoY+20.0%	-1.76B YoY-177.0%	-635M	—
Non-controlling interest	1.12B YoY+6.8%	1.05B YoY+8.6%	964M	—
Total equity incl. non-controlling	12.3B YoY+16.1%	10.6B YoY+26.4%	8.38B YoY-27.8%	11.6B
Total liabilities & equity	63.0B YoY+22.4%	51.5B YoY+11.6%	46.1B	—
	270M YoY-2.3%	276M	—	—
	270M YoY-2.3%	276M	—	—
	270M YoY-2.3%	276M	—	—
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22
	4.99B YoY+93.1%	2.58B YoY+117.8%	1.19B YoY+1140.4%	-114M
Depreciation & amortization	853M YoY-27.2%	1.17B YoY+21.6%	964M YoY-46.4%	1.80B
Intangible amortization	238M YoY-14.1%	277M YoY+15.4%	240M YoY-76.4%	1.02B
Change in inventory	1.43B YoY+123.6%	641M YoY+167.1%	240M YoY-74.7%	949M
Other operating activities	-1.19B YoY-618.3%	229M YoY+51.7%	151M YoY-50.0%	302M
	-755M YoY-1940.5%	-37.0M YoY+95.0%	-734M YoY-128.0%	-322M
Capital expenditure	1.28B YoY+44.6%	883M YoY+18.7%	744M YoY+45.0%	513M
Free cash flow	3.71B YoY+118.2%	1.70B YoY+284.6%	442M YoY+170.5%	-627M
Acquisitions	0.00	0.00	0.00	0.00
Proceeds from sale of PP&E	39.0M YoY+56.0%	25.0M YoY-58.3%	60.0M YoY+13.2%	53.0M
Other investing activities	-47.0M YoY-138.5%	122M YoY-38.7%	199M YoY+204.2%	-191M
	-3.81B YoY-204.4%	3.65B YoY+995.1%	-408M YoY-150.3%	811M
Long-term debt issued	0.00	0.00	0.00	0.00
Long-term debt repaid	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00	0.00	0.00
Common stock repurchased	3.32B YoY+7611.6%	43.0M	0.00	0.00
Dividends paid	275M	0.00	0.00	0.00
Other financing activities	-221M YoY-128.2%	785M YoY+1346.0%	-63.0M YoY+58.3%	-151M
Net change in cash	644M YoY-89.4%	6.05B YoY+9068.2%	66.0M YoY-77.1%	288M
Interest paid	53.0M YoY-28.4%	74.0M YoY-10.8%	83.0M YoY+7.8%	77.0M
Income taxes paid	830M YoY+33.2%	623M YoY+31050.0%	2.00M YoY-97.8%	91.0M
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22
Market cap	176B YoY+94.1%	90.8B	—	—
P/E	36.1× YoY-38.3%	58.5×	—	—
P/S	4.6× YoY+78.1%	2.6×	—	—
P/B	15.8× YoY+65.8%	9.5×	—	—
P/FCF	47.5× YoY-11.1%	53.4×	—	—
	2.8% YoY+62.1%	1.7%	—	—
	2.1% YoY+12.4%	1.9%	—	—
	0.19% YoY+151.6%	0.08%	—	—
Source filing	10-K	10-K	10-K	10-K

About this data

Source: GEV's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all GEV filings on SEC EDGAR → Not investment advice.