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GE Vernova

GEV·NYSE·USD

895.08+39.96 (+4.67%)
Regular-session close·Definitions

Gas turbines and grid equipment: several steps from orders to deliveryBusiness mechanism

Price history2024-04-02 — 2026-10-23Valid trading days: 644 · Through 2026-10-23 · All expected trading dates since listing are present · History update delayed
Operating history2023-03-31 — 2026-06-309 historical metrics · 14 workpaper periods
Coverage limitations

Daily history updates are delayed. Available history through 2026-10-23 remains visible; a current quote does not establish that daily history has been updated.

Requests to the historical-data source are rate limited, delaying daily-price updates. Existing verified periods are retained; trading days not yet retrieved are not fabricated.

The first price observation reaches the verified listing date. This does not mean that security continuity, every trading day and adjusted prices have all been verified throughout the history.

The first price reaches the verified listing date 2024-04-02. Trading-date coverage and price verification are shown separately below.

Trading dates checked for 2024-04-02 — 2026-10-23: all 644 expected dates are present. Complete dates do not establish independent verification of every price.

Security basis: The current security identity and recorded historical continuity have been checked. Listing-date coverage is shown separately. Historical closes use the provider's split adjustments and exclude dividend distributions. Full-history adjustment factors have not been independently recalculated. Price changes do not represent total returns including dividends.

Original verification records

verified-listing-start-covered

History update reason: source-rate-limited-until 2026-10-28T04:39:08.620Z

GE Vernova regular-way trading; earlier when-issued observations excluded.

View sources and versions ↗
Financial drivers from public filings · single quarter

Compare growth, earnings, cash flow and capital investment for aligned reporting periods to examine company-wide financial drivers. Calculation inputs and original filings remain available.

Coverage and applicability

2023-03-31 — 2026-06-30 · Valid observations: 113. These observations analyze public financial data; they are not a standalone sector research report, score or price target. Company-wide figures do not replace segment, product or contract disclosures.

  • (CFO − cash purchases of PP&E) / revenue: the capital-purchase concept covers the broader category of productive assets and is not relabeled as PP&E.
  • Cash purchases of PP&E / revenue: the capital-purchase concept covers the broader category of productive assets and is not relabeled as PP&E.

Price and operations

Research history
Reproducible calculations from public filings, without inferring segment-level results.

Period end is the end of the operating period. Source-publication mode uses the publication date of the document selected, without asserting that it was the first disclosure. Expand the notes below the chart for definitions and sources.

Add metrics 3
Available metrics: 9

Financials and cash flow

Last value in range
GEV Share priceTrading day
USD4006008001k1.2k815.00
Gross marginQuarterly observations
%1920212221.3
Operating marginQuarterly observations
%02465.9
Net marginQuarterly observations
%020406025.10.2326.01.0126.04.0126.07.0126.10.236

Time rangeGEV Share price

2025-10-23 — 2026-10-23
Methodology and controls

Each panel has its own value axis; dates and the cursor are synchronized. Operating data appear only on their observed dates; other dates are left blank. US daily prices are checked against the verified 1997–2027 trading calendar. A missing expected trading day breaks the line; weekends and recorded exchange holidays do not. Operating data are positioned at the actual period end, which is not necessarily the date of public disclosure. Drag within the chart to zoom and move the range window below to pan. Quarterly values are not filled across other trading days.

Underlying data Operating metrics: 3
Observations in this chart, including unverified periods or dates · original values and source versions retained
Selected operating metrics; records with values and current chart gaps appear first. Unverified dates are excluded from charts.
Reporting period endGross margin% · Calculated from disclosuresOperating margin% · Calculated from disclosuresNet margin% · Calculated from disclosures
2026-06-302026-06-3021.25%
Basis · Calculated from disclosures

Source version date: 2026-07-22

View calculation inputs · 4 items
Currency
USD
grossProfit
2,360,000,000
Revenue
11,104,000,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:GrossProfit
Original unit
USD
Period start
2026-04-01
Period end
2026-06-30
value
2,360,000,000
Filing date
2026-07-22
form
10-Q
accn
0001996810-26-000148
Input sign
1
sourceIds
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gev-sec-0001996810-26-000148
1
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
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Period start
2026-04-01
Period end
2026-06-30
value
11,104,000,000
Filing date
2026-07-22
form
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accn
0001996810-26-000148
Input sign
1
sourceIds
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gev-sec-0001996810-26-000148
GEV · 10-Q · Filing version 2026-07-22
5.88%
Basis · Calculated from disclosures

Source version date: 2026-07-22

View calculation inputs · 4 items
Currency
USD
operatingIncome
653,000,000
Revenue
11,104,000,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:OperatingIncomeLoss
Original unit
USD
Period start
2026-04-01
Period end
2026-06-30
value
653,000,000
Filing date
2026-07-22
form
10-Q
accn
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Input sign
1
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gev-sec-0001996810-26-000148
1
role
denominator
Original XBRL field
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Original unit
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Period start
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Period end
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value
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2026-07-22
form
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Input sign
1
sourceIds
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gev-sec-0001996810-26-000148
GEV · 10-Q · Filing version 2026-07-22
6.02%
Basis · Calculated from disclosures

Source version date: 2026-07-22

View calculation inputs · 4 items
Currency
USD
Net income
668,000,000
Revenue
11,104,000,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:NetIncomeLoss
Original unit
USD
Period start
2026-04-01
Period end
2026-06-30
value
668,000,000
Filing date
2026-07-22
form
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accn
0001996810-26-000148
Input sign
1
sourceIds
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gev-sec-0001996810-26-000148
1
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2026-04-01
Period end
2026-06-30
value
11,104,000,000
Filing date
2026-07-22
form
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Input sign
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sourceIds
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gev-sec-0001996810-26-000148
GEV · 10-Q · Filing version 2026-07-22
2026-03-312026-03-3119.07%
Basis · Calculated from disclosures

Source version date: 2026-04-22

View calculation inputs · 4 items
Currency
USD
grossProfit
1,781,000,000
Revenue
9,339,000,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:GrossProfit
Original unit
USD
Period start
2026-01-01
Period end
2026-03-31
value
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Filing date
2026-04-22
form
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accn
0001996810-26-000064
Input sign
1
sourceIds
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1
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denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2026-01-01
Period end
2026-03-31
value
9,339,000,000
Filing date
2026-04-22
form
10-Q
accn
0001996810-26-000064
Input sign
1
sourceIds
0
gev-sec-0001996810-26-000064
GEV · 10-Q · Filing version 2026-04-22
1.92%
Basis · Calculated from disclosures

Source version date: 2026-04-22

View calculation inputs · 4 items
Currency
USD
operatingIncome
179,000,000
Revenue
9,339,000,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:OperatingIncomeLoss
Original unit
USD
Period start
2026-01-01
Period end
2026-03-31
value
179,000,000
Filing date
2026-04-22
form
10-Q
accn
0001996810-26-000064
Input sign
1
sourceIds
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gev-sec-0001996810-26-000064
1
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Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
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Period start
2026-01-01
Period end
2026-03-31
value
9,339,000,000
Filing date
2026-04-22
form
10-Q
accn
0001996810-26-000064
Input sign
1
sourceIds
0
gev-sec-0001996810-26-000064
GEV · 10-Q · Filing version 2026-04-22
50.81%
Basis · Calculated from disclosures

Source version date: 2026-04-22

View calculation inputs · 4 items
Currency
USD
Net income
4,745,000,000
Revenue
9,339,000,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:NetIncomeLoss
Original unit
USD
Period start
2026-01-01
Period end
2026-03-31
value
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Filing date
2026-04-22
form
10-Q
accn
0001996810-26-000064
Input sign
1
sourceIds
0
gev-sec-0001996810-26-000064
1
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2026-01-01
Period end
2026-03-31
value
9,339,000,000
Filing date
2026-04-22
form
10-Q
accn
0001996810-26-000064
Input sign
1
sourceIds
0
gev-sec-0001996810-26-000064
GEV · 10-Q · Filing version 2026-04-22
2025-12-312025-12-3121.19%
Basis · Calculated from disclosures

Source version date: 2026-01-29

View calculation inputs · 4 items
Currency
USD
grossProfit
2,322,000,000
Revenue
10,956,000,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:GrossProfit
Original unit
USD
Period start
2025-01-01
Period end
2025-12-31
value
7,535,000,000
Filing date
2026-01-29
form
10-K
accn
0001996810-26-000015
Input sign
1
sourceIds
0
gev-sec-0001996810-26-000015
1
role
numerator
Original XBRL field
us-gaap:GrossProfit
Original unit
USD
Period start
2025-01-01
Period end
2025-09-30
value
5,213,000,000
Filing date
2025-10-22
form
10-Q
accn
0001996810-25-000160
Input sign
-1
sourceIds
0
gev-sec-0001996810-25-000160
2
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2025-01-01
Period end
2025-12-31
value
38,068,000,000
Filing date
2026-01-29
form
10-K
accn
0001996810-26-000015
Input sign
1
sourceIds
0
gev-sec-0001996810-26-000015
3
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2025-01-01
Period end
2025-09-30
value
27,112,000,000
Filing date
2025-10-22
form
10-Q
accn
0001996810-25-000160
Input sign
-1
sourceIds
0
gev-sec-0001996810-25-000160
GEV · 10-K · Filing version 2026-01-29GEV · 10-Q · Filing version 2025-10-22
5.49%
Basis · Calculated from disclosures

Source version date: 2026-01-29

View calculation inputs · 4 items
Currency
USD
operatingIncome
601,000,000
Revenue
10,956,000,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:OperatingIncomeLoss
Original unit
USD
Period start
2025-01-01
Period end
2025-12-31
value
1,388,000,000
Filing date
2026-01-29
form
10-K
accn
0001996810-26-000015
Input sign
1
sourceIds
0
gev-sec-0001996810-26-000015
1
role
numerator
Original XBRL field
us-gaap:OperatingIncomeLoss
Original unit
USD
Period start
2025-01-01
Period end
2025-09-30
value
787,000,000
Filing date
2025-10-22
form
10-Q
accn
0001996810-25-000160
Input sign
-1
sourceIds
0
gev-sec-0001996810-25-000160
2
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2025-01-01
Period end
2025-12-31
value
38,068,000,000
Filing date
2026-01-29
form
10-K
accn
0001996810-26-000015
Input sign
1
sourceIds
0
gev-sec-0001996810-26-000015
3
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2025-01-01
Period end
2025-09-30
value
27,112,000,000
Filing date
2025-10-22
form
10-Q
accn
0001996810-25-000160
Input sign
-1
sourceIds
0
gev-sec-0001996810-25-000160
GEV · 10-K · Filing version 2026-01-29GEV · 10-Q · Filing version 2025-10-22
33.44%
Basis · Calculated from disclosures

Source version date: 2026-01-29

View calculation inputs · 4 items
Currency
USD
Net income
3,664,000,000
Revenue
10,956,000,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:NetIncomeLoss
Original unit
USD
Period start
2025-01-01
Period end
2025-12-31
value
4,884,000,000
Filing date
2026-01-29
form
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accn
0001996810-26-000015
Input sign
1
sourceIds
0
gev-sec-0001996810-26-000015
1
role
numerator
Original XBRL field
us-gaap:NetIncomeLoss
Original unit
USD
Period start
2025-01-01
Period end
2025-09-30
value
1,220,000,000
Filing date
2025-10-22
form
10-Q
accn
0001996810-25-000160
Input sign
-1
sourceIds
0
gev-sec-0001996810-25-000160
2
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2025-01-01
Period end
2025-12-31
value
38,068,000,000
Filing date
2026-01-29
form
10-K
accn
0001996810-26-000015
Input sign
1
sourceIds
0
gev-sec-0001996810-26-000015
3
role
denominator
Original XBRL field
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
Original unit
USD
Period start
2025-01-01
Period end
2025-09-30
value
27,112,000,000
Filing date
2025-10-22
form
10-Q
accn
0001996810-25-000160
Input sign
-1
sourceIds
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gev-sec-0001996810-25-000160
GEV · 10-K · Filing version 2026-01-29GEV · 10-Q · Filing version 2025-10-22
Calculations and sources 3 items
Gross margin% · Calculated from disclosures
Calculation basis

Gross profit / revenue × 100

Reading guide

Company-wide reported gross margin is not the margin of any individual product, segment or order. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Data classification

Calculated from disclosures · %

Operating margin% · Calculated from disclosures
Calculation basis

Operating income / revenue × 100

Reading guide

Uses reported operating income, not adjusted earnings. Differences in expense classification can still limit comparisons across companies. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Data classification

Calculated from disclosures · %

Net margin% · Calculated from disclosures
Calculation basis

Selected net-income concept / revenue × 100

Reading guide

May reflect differences in non-controlling interests, taxes and one-time gains or losses. The specific net-income concept is retained for each observation. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Data classification

Calculated from disclosures · %

Business and operating model

Where revenue comes from and which operating changes still require verification.

Company filings ↗

Archived materials distinguish the NRG development framework, specific Crusoe turbine-package orders and Chevron production-scheduling cooperation, and also record the Prolec GE equity acquisition. Unit counts, rated power, total project scale and actual electricity generation are not interchangeable. [1][2][3][4]

Based on value-chain records; original operating disclosures are still needed.Check supporting sources ↗
How revenue, profit and capital connect
Operating mechanismHow operating results are affectedVerifiable metrics
Orders and production scheduling → delivery recognition

Verify unit counts, manufacturing slots, shipment acceptance and revenue recognition for each equipment order; project GW cannot estimate quarterly revenue.

[3][4]
Development frameworks → executable projects

Treat the NRG framework's scale as conditional initially; update the realization stage after confirming project approval, equipment procurement and construction commencement.

[1]
Verify operating disclosures in the primary sources
Equity acquisitions → scope changes

Assess Prolec's acquired revenue, financing costs and integration effects separately to avoid mixing them into comparable organic growth.

[2]
Products, paying customers and use cases

Products and services

Gas-turbine equipment
Track orders, production scheduling and project commissioning separately for aeroderivative and heavy-duty turbines. [3][4]
Transformers
The Prolec GE equity acquisition changes the consolidation scope; acquired revenue cannot all be characterized as organic order growth. [2]

Customers and demand

NRG
The development agreement describes plans for future generating units; NRG will own and operate the plants. They are not GEV's existing generation assets. [1]
Crusoe
Specific turbine-package order excerpts are available; batch-level delivery and on-site operation still require confirmation. [3]
Chevron / Engine No. 1
The projects still involve site selection, engineering and permitting; planned delivery does not constitute commercial operation. [4]
How supply, demand and capital affect the company
Downstream

NRG Energy, Inc. Equipment and engineering

Project development agreement (three-party with Kiewit subsidiary TIC) · up to 5.4GW of gas combined-cycle units · 1.2GW in service 2029, 1.2GW in 2030, further 3GW 2030 to 2032 · priority on Texas and eastern sites · plants owned and operated by NRG [5]

Framework or indication of intent
Downstream

Crusoe Energy Systems LLC Equipment and engineering

GE Vernova is supplying Crusoe with 29 LM2500XPRESS aeroderivative gas turbine packages (~35 MW each, nearly 1 GW combined): an initial 10 units ordered in December 2024 plus 19 units booked in June 2025, to power Crusoe's AI data centers including the Abilene, West Texas site. [7]

Signed or existing
Downstream

Chevron Corporation Equipment and engineering

GE Vernova will provide seven 7HA heavy-duty gas turbines to the Chevron / Engine No. 1 venture powering U.S. data centers, targeting four gigawatts by 2027 with first deliveries scheduled for 2026; siting, engineering studies and permitting were under way at announcement. [8]

Framework or indication of intent
Uses of funds

Prolec GE (transformer joint venture, 50% stake bought from Xignux) Capital and financing

GE Vernova completed the buy-out of the remaining 50% of transformer joint venture Prolec GE from partner Xignux on 2 Feb 2026 for $5.275 billion, funded with an equal mix of cash and debt; Prolec GE runs seven Americas plants (five in the U.S.) with roughly 10,000 employees making generation, transmission and distribution transformers. [6]

Signed or existing
Verify entities, agreements and primary sources in the relationship map ↗
Company profile and filings
Legal name
GE Vernova Inc.
Exchange / quote currency
NYSE / USD
Reporting currency
USD
Source industry classification
Consumer Electronics/Appliances
Financial period end / Source version used
2026-06-30 / 2026-07-22
Value-chain roles (not revenue shares)
Electrical engineering and grids · Generation and on-site power
Check SEC filings index ↗

Related companies in the value chain

Shared value-chain roles do not establish direct peer status or valuation comparability.

Operating observations and counterevidence

Continue checking facts that could change the conclusions; no hypothetical thresholds are assigned to observations without reliable inputs.

Evidence and gaps ↗

What evidence would weaken these conclusions?

  • Planned projects are not operating power plants

    If project permitting or customer construction remains incomplete, withdraw statements that the project is operating or all revenue has been earned. [1][4]

    Verify operating disclosures in the primary sources
  • Acquisitions do not establish comparable demand growth

    If growth mainly reflects an expanded consolidation scope, recalculate organic growth rather than attributing it to accelerating AI orders. [2]

    Verify operating disclosures in the primary sources
Conclusions not yet supported
Do turbine slots constitute final orders?
Deposits, cancellation provisions and execution conditions require verification; production schedules and development frameworks are not presented as revenue series. [1][4]
Can equipment GW share an axis with power-plant generation?
GW measures rated capacity; electricity generation also requires operating hours and utilization. No conversion is made without those data. [3][4]
MARKET DATA

Quote details

Candlesticks, volume and cross-company prices

895.08 +4.67%
2026-07-23 — 2026-10-23Price change over the selected period -20.97%
Provider split-adjusted prices excluding dividends, USD. Recorded trading days are equally spaced from 2026-07-23 to 2026-10-23 (66 trading days). Volume is shown separately in shares.USD7008009001,0001,1001,200815.00Volume · shares2026-07-23 Volume 3,560,100 shares2026-07-24 Volume 2,489,400 shares2026-07-27 Volume 3,580,000 shares2026-07-28 Volume 3,897,400 shares2026-07-29 Volume 3,697,300 shares2026-07-30 Volume 3,134,700 shares2026-07-31 Volume 2,357,600 shares2026-08-03 Volume 2,011,400 shares2026-08-04 Volume 2,187,700 shares2026-08-05 Volume 1,704,200 shares2026-08-06 Volume 1,763,700 shares2026-08-07 Volume 2,477,400 shares2026-08-10 Volume 1,587,500 shares2026-08-11 Volume 1,631,900 shares2026-08-12 Volume 1,497,900 shares2026-08-13 Volume 1,709,100 shares2026-08-14 Volume 1,491,000 shares2026-08-17 Volume 2,091,100 shares2026-08-18 Volume 2,821,500 shares2026-08-19 Volume 2,056,100 shares2026-08-20 Volume 2,658,100 shares2026-08-21 Volume 1,714,000 shares2026-08-24 Volume 1,893,600 shares2026-08-25 Volume 2,022,400 shares2026-08-26 Volume 2,267,400 shares2026-08-27 Volume 1,582,400 shares2026-08-28 Volume 1,887,000 shares2026-08-31 Volume 3,570,300 shares2026-09-01 Volume 2,333,800 shares2026-09-02 Volume 2,653,000 shares2026-09-03 Volume 1,762,400 shares2026-09-04 Volume 1,236,500 shares2026-09-08 Volume 1,699,100 shares2026-09-09 Volume 1,473,300 shares2026-09-10 Volume 1,462,200 shares2026-09-11 Volume 1,176,700 shares2026-09-14 Volume 3,299,400 shares2026-09-15 Volume 2,046,100 shares2026-09-16 Volume 3,565,200 shares2026-09-17 Volume 3,236,100 shares2026-09-18 Volume 4,105,000 shares2026-09-21 Volume 2,593,900 shares2026-09-22 Volume 2,133,300 shares2026-09-23 Volume 1,678,200 shares2026-09-24 Volume 1,683,000 shares2026-09-25 Volume 1,381,900 shares2026-09-28 Volume 1,658,500 shares2026-09-29 Volume 1,472,200 shares2026-09-30 Volume 1,776,000 shares2026-10-01 Volume 2,945,000 shares2026-10-02 Volume 2,155,000 shares2026-10-05 Volume 1,665,600 shares2026-10-06 Volume 2,528,000 shares2026-10-07 Volume 2,016,800 shares2026-10-08 Volume 2,346,100 shares2026-10-09 Volume 1,114,100 shares2026-10-12 Volume 946,200 shares2026-10-13 Volume 1,898,500 shares2026-10-14 Volume 3,490,600 shares2026-10-15 Volume 3,762,100 shares2026-10-16 Volume 2,648,400 shares2026-10-19 Volume 2,616,900 shares2026-10-20 Volume 2,422,300 shares2026-10-21 Volume 2,997,200 shares2026-10-22 Volume 5,848,000 shares2026-10-23 Volume 3,858,200 shares5.8M007-2308-1409-0910-0110-23
Daily · Provider split-adjusted prices, excluding dividends · USD · Valid closes: 644 / trading dates: 644Market data source
MARKET & FUNDAMENTALS

Quote and valuation methodology

Data timestamps

Trading overview

Previous close
855.12
Session open
870.74
Session range
868.00 – 899.33
Session volume
3.40 M
20 Average daily volume
2.51 M
Historical range
119.00 – 1,195.94

Valuation and cash

Market cap · USD
235.33 B
Price / sales · TTM
5.69
Free cash flow yield
Not applicable

Financial denominator

Revenue · TTM
41.37 B USD
Period end
2026-06-30
Source version
2026-07-22

Quote 2026-10-27Market cap retrieved 2026-10-28Financial period end 2026-06-30

Capital expenditure uses the broader definition of productive-asset purchases and has not been verified as a PP&E-based free-cash-flow proxy. The original arithmetic is retained, but a comparable cash yield is not displayed.

Research archiveNo standalone articles or full reports for this company have been included yet

Public financial and operating analysis is available. Standalone research has not yet been published; exploreOperating data、Financial comparison and SourceSource document。

Financial comparison

Select two specific periods to compare changes in scale, earnings and cash.

Quarter · As of 2026-06-30Source version used 2026-07-22 · Original currency USD
USD · Quarter
Current period 2026-04-01 — 2026-06-30Comparison period 2026-01-01 — 2026-03-31
Financial comparison of two defined periods; expand values for source records
Line itemCurrent periodComparison periodAmount changeGrowth
RevenueRecognized revenue; growth is calculated only when the comparison-period base is positive
11.10 B

Raw value 11,104,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

9.34 B

Raw value 9,339,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

+1.77 B+18.90%
Gross profitGross margin 21.25% · Change +2.18 percentage points
2.36 B

Raw value 2,360,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

1.78 B

Raw value 1,781,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

+579.00 M+32.51%
Operating incomeOperating margin 5.88% · Change +3.96 percentage points
653.00 M

Raw value 653,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

179.00 M

Raw value 179,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

+474.00 M+264.80%
Net incomeNet margin 6.02% · Change -44.79 percentage points
668.00 M

Raw value 668,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

4.75 B

Raw value 4,745,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

-4.08 B-85.92%
Operating cash flowOperating cash flow / revenue 49.46% · Change -6.09 percentage points
5.49 BDerived by subtraction

Raw value 5,492,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-06-30 · 10.68 B USD · Source version 2026-07-22
  • Subtract: 2026-01-01 — 2026-03-31 · 5.19 B USD · Source version 2026-04-22
5.19 B

Raw value 5,188,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

+304.00 M+5.86%
Capital expenditureCapital expenditure / revenue 3.48% · Change -0.77 percentage points
386.00 MDerived by subtraction

Raw value 386,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-06-30 · 783.00 M USD · Source version 2026-07-22
  • Subtract: 2026-01-01 — 2026-03-31 · 397.00 M USD · Source version 2026-04-22
397.00 M

Raw value 397,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

-11.00 M-2.77%

The change is the current value minus the comparison value; it is not automatically classified as year-over-year or quarter-over-quarter. Select a value to inspect reporting dates, filing versions and reconstruction inputs.

Historical trends and full financials
Comparable-period financial trends
Last value in range
USD million-5k05k10k15k2023.032024.012024.072025.012025.072026.012026.0611.1k668653

Time rangeRevenue

2023-03-31 — 2026-06-30
Methodology and controls

Series with the same unit and frequency share a value axis. Each column compares observations with matching period boundaries and units. Records that fail those checks remain blank. Drag within the chart to zoom and move the range window below to pan. Quarterly values are not filled across other trading days.

Scroll to see all periods; select a value to open its source →

Quarterly financials, USD. Records without verified periods or units are excluded from comparison columns.
Reporting period end · USD2023-03-312023-06-302023-09-302023-12-312024-03-312024-06-302024-09-302024-12-312025-03-312025-06-302025-09-302025-12-312026-03-312026-06-30
Revenue
6.82 B

Raw value 6,822,000,000.00 USD

2023-01-01 — 2023-03-31 · USD · Reported data

8.12 B

Raw value 8,119,000,000.00 USD

2023-04-01 — 2023-06-30 · USD · Reported data

8.25 B

Raw value 8,253,000,000.00 USD

2023-07-01 — 2023-09-30 · USD · Reported data

10.05 BDerived by subtraction

Raw value 10,045,000,000.00 USD

2023-10-01 — 2023-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2023-01-01 — 2023-12-31 · 33.24 B USD · Source version 2026-01-29
  • Subtract: 2023-01-01 — 2023-09-30 · 23.19 B USD · Source version 2024-10-23
7.26 B

Raw value 7,260,000,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

8.20 B

Raw value 8,204,000,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reported data

8.91 B

Raw value 8,913,000,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reported data

10.56 BDerived by subtraction

Raw value 10,559,000,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 34.94 B USD · Source version 2026-01-29
  • Subtract: 2024-01-01 — 2024-09-30 · 24.38 B USD · Source version 2025-10-22
8.03 B

Raw value 8,032,000,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

9.11 B

Raw value 9,111,000,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reported data

9.97 B

Raw value 9,969,000,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reported data

10.96 BDerived by subtraction

Raw value 10,956,000,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 38.07 B USD · Source version 2026-01-29
  • Subtract: 2025-01-01 — 2025-09-30 · 27.11 B USD · Source version 2025-10-22
9.34 B

Raw value 9,339,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

11.10 B

Raw value 11,104,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

Gross profit
919.00 M

Raw value 919,000,000.00 USD

2023-01-01 — 2023-03-31 · USD · Reported data

1.15 B

Raw value 1,147,000,000.00 USD

2023-04-01 — 2023-06-30 · USD · Reported data

1.05 B

Raw value 1,051,000,000.00 USD

2023-07-01 — 2023-09-30 · USD · Reported data

1.70 BDerived by subtraction

Raw value 1,702,000,000.00 USD

2023-10-01 — 2023-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2023-01-01 — 2023-12-31 · 4.82 B USD · Source version 2026-01-29
  • Subtract: 2023-01-01 — 2023-09-30 · 3.12 B USD · Source version 2024-10-23
1.15 B

Raw value 1,150,000,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

1.70 B

Raw value 1,702,000,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reported data

1.11 B

Raw value 1,109,000,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reported data

2.12 BDerived by subtraction

Raw value 2,123,000,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 6.09 B USD · Source version 2026-01-29
  • Subtract: 2024-01-01 — 2024-09-30 · 3.96 B USD · Source version 2025-10-22
1.47 B

Raw value 1,470,000,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

1.85 B

Raw value 1,846,000,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reported data

1.90 B

Raw value 1,897,000,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reported data

2.32 BDerived by subtraction

Raw value 2,322,000,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 7.54 B USD · Source version 2026-01-29
  • Subtract: 2025-01-01 — 2025-09-30 · 5.21 B USD · Source version 2025-10-22
1.78 B

Raw value 1,781,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

2.36 B

Raw value 2,360,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

Operating income
-469.00 M

Raw value -469,000,000.00 USD

2023-01-01 — 2023-03-31 · USD · Reported data

-341.00 M

Raw value -341,000,000.00 USD

2023-04-01 — 2023-06-30 · USD · Reported data

-307.00 M

Raw value -307,000,000.00 USD

2023-07-01 — 2023-09-30 · USD · Reported data

195.00 MDerived by subtraction

Raw value 195,000,000.00 USD

2023-10-01 — 2023-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2023-01-01 — 2023-12-31 · -923.00 M USD · Source version 2026-01-29
  • Subtract: 2023-01-01 — 2023-09-30 · -1.12 B USD · Source version 2024-10-23
-289.00 M

Raw value -289,000,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

527.00 M

Raw value 527,000,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reported data

-359.00 M

Raw value -359,000,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reported data

593.00 MDerived by subtraction

Raw value 593,000,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 471.00 M USD · Source version 2026-01-29
  • Subtract: 2024-01-01 — 2024-09-30 · -122.00 M USD · Source version 2025-10-22
43.00 M

Raw value 43,000,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

378.00 M

Raw value 378,000,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reported data

366.00 M

Raw value 366,000,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reported data

601.00 MDerived by subtraction

Raw value 601,000,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 1.39 B USD · Source version 2026-01-29
  • Subtract: 2025-01-01 — 2025-09-30 · 787.00 M USD · Source version 2025-10-22
179.00 M

Raw value 179,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

653.00 M

Raw value 653,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

Net income
-315.00 M

Raw value -315,000,000.00 USD

2023-01-01 — 2023-03-31 · USD · Reported data

-150.00 M

Raw value -150,000,000.00 USD

2023-04-01 — 2023-06-30 · USD · Reported data

-170.00 M

Raw value -170,000,000.00 USD

2023-07-01 — 2023-09-30 · USD · Reported data

197.00 MDerived by subtraction

Raw value 197,000,000.00 USD

2023-10-01 — 2023-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2023-01-01 — 2023-12-31 · -438.00 M USD · Source version 2026-01-29
  • Subtract: 2023-01-01 — 2023-09-30 · -635.00 M USD · Source version 2024-10-23
-130.00 M

Raw value -130,000,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

1.29 B

Raw value 1,294,000,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reported data

-96.00 M

Raw value -96,000,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reported data

484.00 MDerived by subtraction

Raw value 484,000,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 1.55 B USD · Source version 2026-01-29
  • Subtract: 2024-01-01 — 2024-09-30 · 1.07 B USD · Source version 2025-10-22
254.00 M

Raw value 254,000,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

514.00 M

Raw value 514,000,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reported data

452.00 M

Raw value 452,000,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reported data

3.66 BDerived by subtraction

Raw value 3,664,000,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 4.88 B USD · Source version 2026-01-29
  • Subtract: 2025-01-01 — 2025-09-30 · 1.22 B USD · Source version 2025-10-22
4.75 B

Raw value 4,745,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

668.00 M

Raw value 668,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

Operating cash flow
-690.00 M

Raw value -690,000,000.00 USD

2023-01-01 — 2023-03-31 · USD · Reported data

-288.00 MDerived by subtraction

Raw value -288,000,000.00 USD

2023-04-01 — 2023-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2023-01-01 — 2023-06-30 · -978.00 M USD · Source version 2024-07-24
  • Subtract: 2023-01-01 — 2023-03-31 · -690.00 M USD · Source version 2024-04-30
233.00 MDerived by subtraction

Raw value 233,000,000.00 USD

2023-07-01 — 2023-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2023-01-01 — 2023-09-30 · -745.00 M USD · Source version 2024-10-23
  • Subtract: 2023-01-01 — 2023-06-30 · -978.00 M USD · Source version 2024-07-24
1.93 BDerived by subtraction

Raw value 1,931,000,000.00 USD

2023-10-01 — 2023-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2023-01-01 — 2023-12-31 · 1.19 B USD · Source version 2026-01-29
  • Subtract: 2023-01-01 — 2023-09-30 · -745.00 M USD · Source version 2024-10-23
-444.00 M

Raw value -444,000,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

979.00 MDerived by subtraction

Raw value 979,000,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2024-01-01 — 2024-06-30 · 535.00 M USD · Source version 2025-07-23
  • Subtract: 2024-01-01 — 2024-03-31 · -444.00 M USD · Source version 2025-04-23
1.13 BDerived by subtraction

Raw value 1,127,000,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2024-01-01 — 2024-09-30 · 1.66 B USD · Source version 2025-10-22
  • Subtract: 2024-01-01 — 2024-06-30 · 535.00 M USD · Source version 2025-07-23
921.00 MDerived by subtraction

Raw value 921,000,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 2.58 B USD · Source version 2026-01-29
  • Subtract: 2024-01-01 — 2024-09-30 · 1.66 B USD · Source version 2025-10-22
1.16 B

Raw value 1,161,000,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

367.00 MDerived by subtraction

Raw value 367,000,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2025-01-01 — 2025-06-30 · 1.53 B USD · Source version 2026-07-22
  • Subtract: 2025-01-01 — 2025-03-31 · 1.16 B USD · Source version 2026-04-22
980.00 MDerived by subtraction

Raw value 980,000,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2025-01-01 — 2025-09-30 · 2.51 B USD · Source version 2025-10-22
  • Subtract: 2025-01-01 — 2025-06-30 · 1.53 B USD · Source version 2026-07-22
2.48 BDerived by subtraction

Raw value 2,479,000,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 4.99 B USD · Source version 2026-01-29
  • Subtract: 2025-01-01 — 2025-09-30 · 2.51 B USD · Source version 2025-10-22
5.19 B

Raw value 5,188,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

5.49 BDerived by subtraction

Raw value 5,492,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-06-30 · 10.68 B USD · Source version 2026-07-22
  • Subtract: 2026-01-01 — 2026-03-31 · 5.19 B USD · Source version 2026-04-22
Capital expenditure
124.00 M

Raw value 124,000,000.00 USD

2023-01-01 — 2023-03-31 · USD · Reported data

159.00 MDerived by subtraction

Raw value 159,000,000.00 USD

2023-04-01 — 2023-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2023-01-01 — 2023-06-30 · 283.00 M USD · Source version 2024-07-24
  • Subtract: 2023-01-01 — 2023-03-31 · 124.00 M USD · Source version 2024-04-30
181.00 MDerived by subtraction

Raw value 181,000,000.00 USD

2023-07-01 — 2023-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2023-01-01 — 2023-09-30 · 464.00 M USD · Source version 2024-10-23
  • Subtract: 2023-01-01 — 2023-06-30 · 283.00 M USD · Source version 2024-07-24
280.00 MDerived by subtraction

Raw value 280,000,000.00 USD

2023-10-01 — 2023-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2023-01-01 — 2023-12-31 · 744.00 M USD · Source version 2026-01-29
  • Subtract: 2023-01-01 — 2023-09-30 · 464.00 M USD · Source version 2024-10-23
217.00 M

Raw value 217,000,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

157.00 MDerived by subtraction

Raw value 157,000,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2024-01-01 — 2024-06-30 · 374.00 M USD · Source version 2025-07-23
  • Subtract: 2024-01-01 — 2024-03-31 · 217.00 M USD · Source version 2025-04-23
159.00 MDerived by subtraction

Raw value 159,000,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2024-01-01 — 2024-09-30 · 533.00 M USD · Source version 2025-10-22
  • Subtract: 2024-01-01 — 2024-06-30 · 374.00 M USD · Source version 2025-07-23
350.00 MDerived by subtraction

Raw value 350,000,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 883.00 M USD · Source version 2026-01-29
  • Subtract: 2024-01-01 — 2024-09-30 · 533.00 M USD · Source version 2025-10-22
186.00 M

Raw value 186,000,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

173.00 MDerived by subtraction

Raw value 173,000,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2025-01-01 — 2025-06-30 · 359.00 M USD · Source version 2026-07-22
  • Subtract: 2025-01-01 — 2025-03-31 · 186.00 M USD · Source version 2026-04-22
247.00 MDerived by subtraction

Raw value 247,000,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2025-01-01 — 2025-09-30 · 606.00 M USD · Source version 2025-10-22
  • Subtract: 2025-01-01 — 2025-06-30 · 359.00 M USD · Source version 2026-07-22
671.00 MDerived by subtraction

Raw value 671,000,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 1.28 B USD · Source version 2026-01-29
  • Subtract: 2025-01-01 — 2025-09-30 · 606.00 M USD · Source version 2025-10-22
397.00 M

Raw value 397,000,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

386.00 MDerived by subtraction

Raw value 386,000,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-06-30 · 783.00 M USD · Source version 2026-07-22
  • Subtract: 2026-01-01 — 2026-03-31 · 397.00 M USD · Source version 2026-04-22
Comparison rules and gaps

Comparison columns require aligned period boundaries, currency and duration. Blank values are not zero; directly reported quarters and cumulative reconstructions are distinguished. A non-positive comparison base is shown as an amount change without a percentage growth rate.

View filing source

Events and disclosure records

Completed events, conditional arrangements and the document versions used are listed separately.

Check original source ↗
Disclosed events

Prolec GE (transformer joint venture, 50% stake bought from Xignux) · Capital and financing

GE Vernova completed the buy-out of the remaining 50% of transformer joint venture Prolec GE from partner Xignux on 2 Feb 2026 for $5.275 billion, funded with an equal mix of cash and debt; Prolec GE runs seven Americas plants (five in the U.S.) with roughly 10,000 employees making generation, transmission and distribution transformers. [6]

Disclosed events

Crusoe Energy Systems LLC · Equipment and engineering

GE Vernova is supplying Crusoe with 29 LM2500XPRESS aeroderivative gas turbine packages (~35 MW each, nearly 1 GW combined): an initial 10 units ordered in December 2024 plus 19 units booked in June 2025, to power Crusoe's AI data centers including the Abilene, West Texas site. [7]

Conditional arrangements

Chevron Corporation · Equipment and engineering

GE Vernova will provide seven 7HA heavy-duty gas turbines to the Chevron / Engine No. 1 venture powering U.S. data centers, targeting four gigawatts by 2027 with first deliveries scheduled for 2026; siting, engineering studies and permitting were under way at announcement. [8]

Conditional arrangements

NRG Energy, Inc. · Equipment and engineering

Project development agreement (three-party with Kiewit subsidiary TIC) · up to 5.4GW of gas combined-cycle units · 1.2GW in service 2029, 1.2GW in 2030, further 3GW 2030 to 2032 · priority on Texas and eastern sites · plants owned and operated by NRG [5]

Included financial source versions
  1. 10-Q Original financial filings ↗

    This page cites periods ending through 2026-06-30. The same document includes multiple comparison periods.

  2. 10-Q Original financial filings ↗

    This page cites periods ending through 2026-03-31. The same document includes multiple comparison periods.

  3. 10-K Original financial filings ↗

    This page cites periods ending through 2025-12-31. The same document includes multiple comparison periods.

  4. 10-Q Original financial filings ↗

    This page cites periods ending through 2025-09-30. The same document includes multiple comparison periods.

  5. 10-Q Original financial filings ↗

    This page cites periods ending through 2024-06-30.

  6. 10-Q Original financial filings ↗

    This page cites periods ending through 2024-03-31.

Showing the latest 6 recorded source versions. Find the remaining 4 in Source values in the full financial table.

Industry relationships and operating mechanisms

Trace supply and demand through contract performance, operating metrics and cash attribution.

Direct relationships: 4 · Excluded by current filters: 0

Goods and services are arranged from supplier to customer; capital is shown separately. Select a relationship to inspect its evidence and operating mechanism. Second-degree paths do not establish guarantees or certain revenue.

Relationship records

4 records
Economic direction / relationship typeStatus / record dateRecorded amountCapacity basisEvidence source
Signed / existing2026-02-02USD 5.28 billionAcquisition considerationNot structuredB · Company / mediaCheck public source ↗
Signed / existing2025-07-22No attributable amount providedAmount classification not yet structured1 GWSee the record for capacity definitions and conditionsB · Company / mediaCheck public source ↗
Framework / intent2025-04-16No attributable amount providedAmount classification not yet structured4 GWSee the record for capacity definitions and conditionsB · Company / mediaCheck public source ↗
Framework / intent2025-02-26No attributable amount providedAmount classification not yet structured5.4 GWSee the record for capacity definitions and conditionsA · Original filingCheck public source ↗
1–4 / 4 records

Capital deployed · Business acquisition

GEV Prolec GE

Signed / existingB · Company / media

What this relationship establishes

Acquired the remaining 50% of transformer joint venture Prolec GE from joint venture partner Xignux

Relationship type
Business acquisition

Recorded as signed or existing; performance progress requires separate verification

Amount basis
USD 5.28 billion Acquisition consideration
  • Consideration of $5.275 billion

Separate cash, notes, shares and contingent consideration. Payment timing, subsequent adjustments and closing status cannot be inferred from the total. The graph's USD field retains its stored value; the original wording determines whether an amount is exact, approximate, a floor or a cap.

Attribution
Applies to this relationship; the original document determines the specific legal entities and attribution.
Concentration
A relationship amount and company denominator with matching periods and definitions are not provided

Relationship counts, capacity and total contract value are not measures of revenue or procurement concentration.

Complete record and source location

GE Vernova completed the buy-out of the remaining 50% of transformer joint venture Prolec GE from partner Xignux on 2 Feb 2026 for $5.275 billion, funded with an equal mix of cash and debt; Prolec GE runs seven Americas plants (five in the U.S.) with roughly 10,000 employees making generation, transmission and distribution transformers.

B · Company / media

GE Vernova press release, "GE Vernova completes Prolec GE acquisition"

Consideration, integration and returns

The excerpts below come from this record. Verify signed status separately from actual completion.

  • This record does not specify performance milestones, payment arrangements or termination provisions.
Inputs still needed to quantify the impact
  • Payment arrangements for cash, notes and contingent consideration
  • Purchase accounting allocation, goodwill and subsequent integration spending
  • The basis for separating incremental cash returns from the existing business

The amount associated with a relationship cannot substitute for the company's revenue, earnings or stock-price impact. Applies to this relationship; the original document determines the specific legal entities and attribution.

How to test the operating mechanism

Analytical framework, not a realized impact

  1. Transaction terms

    GEV → Prolec GE: verify the acquisition scope, closing conditions and composition of the consideration.

  2. Consolidation and integration

    Verify cash paid at closing, seller notes and contingent consideration separately; track identifiable assets, goodwill and subsequent integration spending.

  3. Financial outcomes

    Verify the acquired business's contribution, acquisition cash outflows and capital tied up; recorded goodwill is not distributable cash.

  4. Testing price implications

    Test whether incremental cash returns justify the consideration paid before assessing per-share value; consolidated acquired revenue is not the same as synergy benefits.

Cross-check relationship events against subsequent disclosures of company revenue, costs, working capital and cash flows; movements in the same direction alone do not establish causation.

Operating data to test the relationship

GEV · Company-specific metric definitions and classifications

Metrics test operating processes; an overall change cannot be attributed to a single relationship. Expand the definitions to check calculation methods and their applicable boundaries.

Profit and costs

Can revenue growth translate into earnings attributable to shareholders?

Preserve the distinctions relating to depreciation, stock-based compensation, adjustments and segments. The company's margin cannot be applied as this contract's margin.
Operating metricLatest valueDefinition and boundaries
Gross margin ↗2026-06-30 · Research calculation21.25%
Definition and boundaries

Gross profit / revenue × 100

Company-wide reported gross margin is not the margin of any individual product, segment or order. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Operating margin ↗2026-06-30 · Research calculation5.88%
Definition and boundaries

Operating income / revenue × 100

Uses reported operating income, not adjusted earnings. Differences in expense classification can still limit comparisons across companies. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Net margin ↗2026-06-30 · Research calculation6.02%
Definition and boundaries

Selected net-income concept / revenue × 100

May reflect differences in non-controlling interests, taxes and one-time gains or losses. The specific net-income concept is retained for each observation. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Operating cash flow / revenue ↗2026-06-30 · Research calculation49.46%
Definition and boundaries

Operating cash flow / revenue × 100

Shows operating cash inflows and outflows, including working capital and taxes. It is neither a contract collection rate nor cash available for shareholder distribution. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Show remaining company metrics (5)
Other operating observations

What verifiable information does this metric provide about this relationship?

Use the metric's definition and original inputs. Quantitative attribution to this relationship has not been established.
Operating metricLatest valueDefinition and boundaries
Revenue growth YoY ↗2026-06-30 · Research calculation21.87%
Definition and boundaries

(Current-period revenue / comparable prior-year revenue − 1) × 100

Requires the same concept and currency for equal-length periods one year apart, with positive prior-year revenue. A 53-week versus 52-week year may still differ by one week; no daily adjustment is made. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Operating cash flow / net income ↗2026-06-30 · Research calculation8.22 x
Definition and boundaries

Operating cash flow / net income(Net income > 0)

Examines cash conversion when earnings are positive. No multiple is calculated when net income is non-positive; taxes, non-cash charges and working capital can all cause divergence. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Cash purchases of productive assets / revenue ↗2026-06-30 · Research calculation3.48%
Definition and boundaries

Cash purchases of productive assets / revenue × 100

Uses the broader PaymentsToAcquireProductiveAssets concept. It is not relabeled as PP&E or used to produce a standardized free-cash-flow yield. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

(Net income − operating cash flow) / revenue ↗2026-06-30 · Research calculation-43.44%
Definition and boundaries

(Net income − operating cash flow) / revenue × 100

The amount difference divided by revenue. This is not the Sloan accrual ratio or an earnings-manipulation score. A positive value only indicates that earnings exceed operating cash flow for the same period. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Days inventory outstanding (average balance) ↗2026-06-30 · Research calculation128.07 days
Definition and boundaries

(Opening inventory + closing inventory) / 2 / (revenue − gross profit) × actual days in the period

Costs are reconstructed as revenue less reported gross profit for the same period and currency. Inventory mix and impairments can affect the result; it does not establish demand on its own. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Related companies in the value chain 7 companies · Electrical engineering and grids

Related browsing is based on overlapping segments in the current graph. It does not establish direct peers, valuation comparability, or a supply, customer or investment relationship.

Search all operating metrics and calculation methods

Operating metric search

Test relationship hypotheses against actual operating series, with their definitions, periods and calculation methods.

Historical research methodology
9 / 9 items
Operating metricLatest valuePeriod / classificationDefinition and interpretation boundariesAnalysis
Revenue growth YoY21.87%2026-06-30Research calculation(Current-period revenue / comparable prior-year revenue − 1) × 100Requires the same concept and currency for equal-length periods one year apart, with positive prior-year revenue. A 53-week versus 52-week year may still differ by one week; no daily adjustment is made. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Gross margin21.25%2026-06-30Research calculationGross profit / revenue × 100Company-wide reported gross margin is not the margin of any individual product, segment or order. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Operating margin5.88%2026-06-30Research calculationOperating income / revenue × 100Uses reported operating income, not adjusted earnings. Differences in expense classification can still limit comparisons across companies. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Net margin6.02%2026-06-30Research calculationSelected net-income concept / revenue × 100May reflect differences in non-controlling interests, taxes and one-time gains or losses. The specific net-income concept is retained for each observation. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Operating cash flow / revenue49.46%2026-06-30Research calculationOperating cash flow / revenue × 100Shows operating cash inflows and outflows, including working capital and taxes. It is neither a contract collection rate nor cash available for shareholder distribution. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Operating cash flow / net income8.22 x2026-06-30Research calculationOperating cash flow / net income(Net income > 0)Examines cash conversion when earnings are positive. No multiple is calculated when net income is non-positive; taxes, non-cash charges and working capital can all cause divergence. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Cash purchases of productive assets / revenue3.48%2026-06-30Research calculationCash purchases of productive assets / revenue × 100Uses the broader PaymentsToAcquireProductiveAssets concept. It is not relabeled as PP&E or used to produce a standardized free-cash-flow yield. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
(Net income − operating cash flow) / revenue-43.44%2026-06-30Research calculation(Net income − operating cash flow) / revenue × 100The amount difference divided by revenue. This is not the Sloan accrual ratio or an earnings-manipulation score. A positive value only indicates that earnings exceed operating cash flow for the same period. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Days inventory outstanding (average balance)128.07 days2026-06-30Research calculation(Opening inventory + closing inventory) / 2 / (revenue − gross profit) × actual days in the periodCosts are reconstructed as revenue less reported gross profit for the same period and currency. Inventory mix and impairments can affect the result; it does not establish demand on its own. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Source grades, dates and quantitative definitions

A = original SEC or exchange filings; B = company announcements, IR materials, official websites or established media; C = industry-structure inferences or third-party accounts without an independent primary source

Key relationships were reviewed using public information available through 2026-10-23. Historical relationships have not all been individually reverified. Their original dates are retained; delisted entities remain in the relationship archive but are excluded from market-cap weights. Review coverage through 2026-10-23.

Signed status does not mean that the full amount has been paid or that capacity has been delivered. Assess contract value, period revenue, investment, loans, prepayments and guarantee caps separately; do not sum them as a single exposure. Distinguish total power capacity from critical IT load. Company-level metrics cannot be attributed directly to an individual relationship.

Source facts and operating implications are distinguished, with forecasts and conditional scenarios identified as such. Missing relationships mean that this graph has no record of them. Data version 60aad2cdea0eff4f82e9dafe344d1e57aa2b950269b621d7e5bddfef10520644.

EVIDENCE & SOURCES

Data and calculation basis

Sources and filing versions
Quotes and valuation

2026-10-27, 16:00 ET · Regular-session close. History through 2026-10-23 uses provider split-adjusted prices, excluding dividends. Full-history adjustment factors have not been independently recalculated. MA20 is the arithmetic mean of 20 recorded trading-day closes and does not bridge missing prices or known corporate actions. Price comparisons exclude dividend reinvestment and do not represent total returns. Market cap retrieved on 2026-10-28. Prices refresh daily. Source timestamps and website update times are shown separately.

The current security identity and recorded historical continuity have been checked. Listing-date coverage is shown separately.

Original verification notes

verified-listing-start-covered

GE Vernova regular-way trading; earlier when-issued observations excluded.

Financial statements

Reporting period 2026-06-30; filed 2026-07-22. Financials use the company's reporting periods and currency; unavailable values appear as —. Expand the section below each chart to inspect metric definitions, inputs and original sources.

Business evidence

Based on value-chain records; original operating disclosures are still needed. · As of 2026-02-02

Citations: 8 · Documents: 8

1NRG 8-K EX-99.1 2024Q4 earnings release (filed 2025-02-26)Value-chain archive

Relationship record; the source-document page reference is unavailable · Document date 2025-02-26

Source excerpt, recorded evidence grade A; the full document has not been reverified. Original dates may refer to contracts or reporting periods, rather than publication.

Open source
2GE Vernova press release, "GE Vernova completes Prolec GE acquisition"Value-chain archive

Relationship record; the source-document page reference is unavailable · Document date 2026-02-02

Source excerpt, recorded evidence grade B; the full document has not been reverified. Original dates may refer to contracts or reporting periods, rather than publication.

Open source
3GE Vernova press release (22 Jul 2025)Value-chain archive

Relationship record; the source-document page reference is unavailable · Document date 2025-07-22

Source excerpt, recorded evidence grade B; the full document has not been reverified. Original dates may refer to contracts or reporting periods, rather than publication.

Open source
4GE Vernova article, "Meeting Data Center Demand with Chevron" (16 Apr 2025)Value-chain archive

Relationship record; the source-document page reference is unavailable · Document date 2025-04-16

Source excerpt, recorded evidence grade B; the full document has not been reverified. Original dates may refer to contracts or reporting periods, rather than publication.

Open source
5NRG 8-K EX-99.1 2024Q4 earnings release (filed 2025-02-26)Value-chain archive

NRG 8-K EX-99.1 2024Q4 earnings release (filed 2025-02-26) · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
6GE Vernova press release, "GE Vernova completes Prolec GE acquisition"Value-chain archive

GE Vernova press release, "GE Vernova completes Prolec GE acquisition" · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
7GE Vernova press release (22 Jul 2025)Value-chain archive

GE Vernova press release (22 Jul 2025) · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
8GE Vernova article, "Meeting Data Center Demand with Chevron" (16 Apr 2025)Value-chain archive

GE Vernova article, "Meeting Data Center Demand with Chevron" (16 Apr 2025) · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
Missing evidence
  • Company-specific operating KPIs are not yet available; financial ratios do not substitute for evidence about products, orders or capacity.
Relationships
Company announcements, framework intentions and signed agreements are distinguished. Contract amounts do not represent payments already made. Records without sources are flagged separately.
Version
60aad2cdea0eff4f82e9dafe344d1e57aa2b950269b621d7e5bddfef10520644

ResearchSource document

Sources: 10
01GEV · 10-Q · Filing version 2024-04-30

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure
02GEV · 10-Q · Filing version 2024-07-24

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure
03GEV · 10-Q · Filing version 2024-10-23

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure
04GEV · 10-K · Filing version 2026-01-29

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure
05GEV · 10-K · Filing version 2025-02-06

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure
06GEV · 10-Q · Filing version 2025-04-23

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure
07GEV · 10-Q · Filing version 2025-07-23

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure
08GEV · 10-Q · Filing version 2025-10-22

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure
09GEV · 10-Q · Filing version 2026-04-22

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure
10GEV · 10-Q · Filing version 2026-07-22

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure