Latest Ratios: P/E Ratio 65.1x · EV/EBITDA 134.2x · ROE 42.7%. (2022–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Market Cap | $309.6B | $180.4B | $91.4B | — | — |
| Enterprise Value | $300.7B | $171.5B | $84.9B | — | — |
| P/E Ratio → | 65.12 | 36.95 | 58.95 | — | — |
| P/S Ratio | 8.13 | 4.74 | 2.62 | — | — |
| P/B Ratio | 25.86 | 14.67 | 8.63 | — | — |
| P/FCF | 83.42 | 48.61 | 53.79 | — | — |
| P/OCF | 62.06 | 36.16 | 35.40 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| EV / Revenue | — | 4.51 | 2.43 | — | — |
| EV / EBITDA | 134.19 | 76.54 | 45.85 | — | — |
| EV / EBIT | 216.66 | 60.66 | 33.97 | — | — |
| EV / FCF | — | 46.22 | 49.92 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Gross Margin | 19.8% | 19.8% | 18.1% | 14.5% | 11.7% |
| Operating Margin | 3.6% | 3.6% | 2.3% | -2.8% | -9.7% |
| Net Profit Margin | 12.8% | 12.8% | 4.4% | -1.3% | -9.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | 42.7% | 42.7% | 16.4% | -4.4% | -23.6% |
| ROA | 8.5% | 8.5% | 3.2% | -1.0% | -6.2% |
| ROIC | 27.9% | 27.9% | 9.4% | -7.0% | -19.3% |
| ROCE | 6.6% | 6.6% | 4.3% | -5.2% | -15.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.15 | 0.20 | 0.14 |
| Debt / EBITDA | — | — | 0.88 | 41.68 | — |
| Net Debt / Equity | — | -0.72 | -0.62 | 0.02 | -0.04 |
| Net Debt / EBITDA | -3.95 | -3.95 | -3.56 | 3.85 | — |
| Debt / FCF | — | -2.38 | -3.87 | 0.36 | — |
| Interest Coverage | — | — | — | -0.33 | -15.38 |
Net cash position: cash ($8.8B) exceeds total debt ($0)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 0.98 | 0.98 | 1.08 | 0.94 | 0.99 |
| Quick Ratio | 0.73 | 0.73 | 0.83 | 0.69 | 0.74 |
| Cash Ratio | 0.22 | 0.22 | 0.26 | 0.05 | 0.08 |
| Asset Turnover | — | 0.60 | 0.68 | 0.72 | 0.67 |
| Inventory Turnover | 2.93 | 2.93 | 3.66 | 3.95 | 3.88 |
| Days Sales Outstanding | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Dividend Yield | 0.1% | 0.2% | — | — | — |
| Payout Ratio | 5.6% | 5.6% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | 1.5% | 2.7% | 1.7% | — | — |
| FCF Yield | 1.2% | 2.1% | 1.9% | — | — |
| Buyback Yield | 1.1% | 1.8% | 0.0% | — | — |
| Total Shareholder Yield | 1.2% | 2.0% | 0.0% | — | — |
| Shares Outstanding | — | $276M | $278M | $272M | $272M |
Project execution and warranty
According to recent market data, GEV trades at a forward P/E of 36.49, a valuation that appears to price in significant future earnings expansion rather than current profitability, as investors weigh the company's role in grid modernization against the inherent volatility of its large-scale industrial project backlog.
The current P/E multiple suggests that the market is looking past the company's strained operating margins to focus on the long-term demand for electrification infrastructure. Investors should monitor whether this valuation premium can be sustained if the company fails to convert its massive service backlog into more consistent bottom-line earnings.
Based on reported financial statements, GEV maintains a debt-to-capital ratio of 0.16 as of 2026Q1, a conservative posture that provides the company with significant financial flexibility to navigate the inherent volatility of its large-scale project-based business model and ongoing offshore wind technical challenges.
This low leverage profile appears intentional, providing a necessary buffer for the capital-intensive nature of the Wind segment's turnaround. The balance sheet strength may indicate that management is prioritizing liquidity to fund aggressive R&D and manufacturing scaling rather than relying on external debt markets.
As indicated by the 2026Q1 data, GEV's dividend yield of 0.1% reflects a strategic decision to prioritize internal capital reinvestment over shareholder distributions, with the current payout ratio of 2.9% suggesting that the dividend is highly secure but secondary to the company's aggressive growth and infrastructure investment objectives.
The nominal dividend suggests that GEV is currently positioned as a growth-oriented industrial play rather than a traditional income-generating utility. Investors should interpret this as a signal that management views the current investment opportunities in grid software and turbine servicing as offering superior long-term returns compared to immediate cash returns.
Market participants frequently misapply standard utility P/E multiples to GEV, which obscures the company's true risk profile by ignoring the high volatility of its project-based revenue and the significant impact of non-operating items on its reported net income, as evidenced by the 2026Q1 earnings distortion.
Comparing GEV to regulated utilities is fundamentally flawed because GEV lacks the guaranteed rate-base returns that anchor utility valuations. Analysts should instead utilize an EV/EBITDA approach that adjusts for the cyclicality of the Power and Wind segments to better capture the underlying earning power of the service-heavy business model.
Includes 30+ ratios · 4 years · Updated daily
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Quick answers to the most common questions about buying GEV stock.
GE Vernova Inc.'s current P/E ratio is 65.1x. The historical average is 47.9x. This places it at the 100th percentile of its historical range.
GE Vernova Inc.'s current EV/EBITDA is 134.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 61.2x.
GE Vernova Inc.'s return on equity (ROE) is 42.7%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 7.8%.
Based on historical data, GE Vernova Inc. is trading at a P/E of 65.1x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
GE Vernova Inc.'s current dividend yield is 0.09% with a payout ratio of 5.6%.
GE Vernova Inc. has 19.8% gross margin and 3.6% operating margin.