GE Vernova Inc. (GEV) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-61.8%

$335.52

vs $878.57 price

Levered DCF

$652.41

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.74

Grey zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
P/E	36.47×	58.32×	-81.52×	-13.05×	-56.33×
P/B	15.9×	9.48×	4.82×	3.35×	0×
P/S	4.67×	2.59×	1.07×	1.2×	1.08×
EV / EBITDA	45.89×	22.85×	38.49×	-67.11×	0×
Gross margin	19.8%	18.1%	14.5%	11.7%	15.0%
Operating margin	3.6%	2.3%	-2.8%	-9.7%	-2.7%
Net margin	12.8%	4.4%	-1.3%	-9.2%	-1.9%
Current ratio	0.98×	1.08×	0.94×	0.99×	0×
Debt / equity	0×	0.17×	0.23×	0.16×	0×
Interest coverage	0×	0×	-9.42×	-19.08×	-5.14×
Dividend yield	0.2%	0.1%	0.0%	0.0%	0.0%
Payout ratio	5.6%	4.4%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
Return on equity	43.7%	16.3%	-5.9%	-25.7%	0.0%
Return on invested capital	6.3%	2.4%	-5.7%	-15.4%	0.0%
Return on assets	7.8%	3.0%	-0.9%	-6.2%	0.0%
Free cash flow yield	2.1%	1.9%	1.2%	-1.8%	-6.3%
Earnings yield	2.7%	1.7%	-1.2%	-7.7%	-1.8%
Enterprise value	$168.9B	$83.9B	$35.9B	$35.3B	$0
Net debt / EBITDA	-2.4×	-1.79×	0.17×	0.78×	0×
Cash conversion cycle (days)	308	212	207	218	0