Is the business good?
How good a business is GEV?
GE Vernova earns 84% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
84%
Return on invested capital · cost of capital 9.0% · 75 points above what the capital costs: growth creates value
- Operating margin
- 4.3%
Operating margin · Specialty Industrial Machinery median 15% · 12 months to Q2 2026
- Cash conversion
- 1.30×
Cash conversion · 2.34× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −2.2%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2022 | −9.7% |
| FY2023 | −2.8% |
| FY2024 | 1.4% |
| FY2025 | 3.6% |
Details›
- Gross margin12 months to Q2 2026
- 20%
- Operating margin12 months to Q2 2026
- 4.3%
- Net margin12 months to Q2 2026
- 23%
- Free cash flow margin
- 30%
- R&D as % of revenue
- 3.2%
- Revenue, trailing twelve months
- $41.4B
- Free cash flow, trailing twelve months
- $12.4B
- Net income, trailing twelve months
- $9.53B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 84%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Specialty Industrial Machinery
Ranks #1 of 44 by Smart Score