What is the primary revenue source for GE Vernova (GEV)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze GEV's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out GE Vernova's total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How GE Vernova Makes Money: GEV Revenue Breakdown (2026)

Operations

Where did the money come from, and where was it spent?

Steady

Revenue and operating profit grew together, indicating healthy core operations.

The largest revenue segment accounts for 57.3% of revenue, indicating concentration.

Operating margin improved by 1.62 percentage points year over year.

Revenue: USD 20.44B
Largest revenue segment share (Product): 57.30%
Cost of revenue: USD 16.30B
Selling, general and administrative: USD 2.67B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

RevenueTotal revenues · RevenueFromContractWithCustomerExcludingAssessedTax
Cost of revenueCost of equipment and services · CostOfGoodsAndServicesSold
Selling, general and administrativeSelling, general, and administrative expenses · SellingGeneralAndAdministrativeExpense
Largest revenue segment share (Product)Product · segment_value / revenue * 100
Operating marginOperating income (loss) · operating_income / revenue * 100

Assets

Where is the money tied up, and how is the company financed?

Watch

Current assets do not cover near-term liabilities, indicating short-term funding pressure.

Cash and cash equivalents: USD 13.12B
Inventory: USD 12.69B
Accounts receivable: USD 11.10B
Total liabilities: USD 67.69B
Shareholder equity: USD 13.12B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Shareholder equityTotal equity · StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Total liabilitiesTotal liabilities · Liabilities
InventoryInventories, including deferred inventory costs (note 5) · InventoryNet
Accounts receivableCurrent receivables – net (note 4) · ReceivablesNetCurrent
Cash and cash equivalentsCash, cash equivalents, and restricted cash · CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents

Cash

Did accounting profit ultimately turn into cash?

Steady

Operating cash flow covers accounting profit, showing good cash conversion.

Operating cash flow equals 197.3% of net income.

Free cash flow remains positive after capital expenditure.

Net income: USD 5.41B
Operating cash flow: USD 10.68B
Cash conversion: 197.30%
Free cash flow: USD 9.90B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Net incomeNet income (loss) attributable to ge vernova · NetIncomeLoss
Free cash flowcfo - capex
Cash conversionoperating_cash_flow / net_income * 100
Operating cash flowsum(waterfull.operating)

Shareholders

Did the money earned actually make its way back to shareholders?

Steady

Dividends and net buybacks are covered by free cash flow, so cash genuinely reached shareholders.

Cash dividends: USD 273.00M
Share repurchases: USD 3.67B
Net shareholder return: USD 3.94B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Cash dividendsPayments of dividends · PaymentsOfDividends · abs(node_value)
Net shareholder returndividends_paid + share_repurchases - stock_issuance_proceeds
Share repurchasesPayments for repurchase of common stock · PaymentsForRepurchaseOfCommonStock · abs(node_value)

Diluted share count is missing, so dilution cannot be assessed against buybacks.

Financial Insights

Please select a report to view

Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?