Income StatementBalance SheetCash FlowSegments
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GE Vernova Business Segments

Business, geographic, and product segment breakdowns

GE Vernova generates $39.4B in annual revenue across 3 key segments: Electrification ($7.4B), Power ($14.9B), and Wind ($8.8B). The company-wide operating margin is 3.87%. Based on the Q1 2026 filing.

Electrification (TTM)$7.4BPower (TTM)$14.9BWind (TTM)$8.8B
Latest FilingQ1 2026
Report Date2026-04-22
Market Cap$279.13B
P/E Ratio29.77
ROE83.23%

Products & Services

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Performance obligations expected to be satisfied———$81.2B$86.0B$87.4B
Current contract assets (Note 9)$5.3B——$5.5B$5.4B$5.4B
Total revenues$4.7B$3.8B$4.2B$4.1B$5.0B$4.1B
Cost of equipment and services$3.1B$2.6B$3.0B$2.9B$3.2B$2.8B
Service agreement liabilities$1.8B——$2.0B$2.0B$1.9B
Performance obligation expected to be satisfied (as a percent)———91.0%91.0%91.0%

Geographic

Long-Lived Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Asia$798.0M———$833.0M—
Europe$1.8B———$2.1B—
Middle East and Africa$282.0M———$287.0M—

Total revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Asia$1.2B$1.2B$1.2B$1.2B$1.2B—
Europe$2.1B$1.9B$1.9B$1.9B$1.9B—
Middle East and Africa$1.0B$1.3B$1.3B$1.3B$1.3B—

Number of manufacturing sites

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
United States—————5.00

Business Segments

Acquisitions

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electrification—$17.5M$17.5M$17.5M$17.5M$5.5B
Power—$3.8M$3.8M$3.8M$3.8M$0.0
Wind————$0.0$0.0

Contract And Other Deferred Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Power$7.5B——$7.7B$7.3B$7.5B
Electrification$1.2B——$1.4B$1.4B$1.6B
Wind$546.0M——$844.0M$990.0M$930.0M

Contract and other deferred assets (Note 9)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Power$536.0M——$474.0M$368.0M$453.0M
Electrification$11.0M——$11.0M$9.0M$7.0M
Wind$8.0M——$2.0M$1.0M$1.0M

Contract liabilities and deferred income (Note 9)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Power$9.7B——$12.6B$16.5B$20.4B
Electrification$4.0B——$5.3B$6.4B$8.3B
Wind$3.9B——$2.3B$2.8B$3.2B

Contract with Customer, Liability

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Power$9.7B——$12.6B$16.5B$20.4B
Electrification$4.1B——$5.3B$6.5B$8.3B
Wind$4.0B——$2.4B$2.9B$3.3B

Cost of revenues, excluding depreciation and amortization

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Power$4.0B$3.4B$3.5B$3.7B$4.1B$3.6B
Electrification$1.5B$1.3B$1.5B$1.8B$2.0B$2.0B
Wind$2.9B$1.8B$2.2B$2.5B$2.4B$1.6B

Currency exchange and other

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Wind-$42.5M$66.8M$66.8M$66.8M$66.8M-$34.0M
Electrification-$1.8M-$45.0M-$45.0M-$45.0M-$45.0M-$23.0M
Power$750.0K$750.0K$750.0K$750.0K$750.0K$0.0

Current contract assets (Note 9)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Power$6.9B——$7.2B$6.9B$7.1B
Electrification$1.1B——$1.4B$1.4B$1.6B
Wind$538.0M——$842.0M$988.0M$928.0M

Deferred income (Note 9)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Wind$112.0M——$121.0M$142.0M$105.0M
Electrification$16.0M——$14.0M$13.0M$10.0M
Power$29.0M——$18.0M$20.0M$4.0M

D&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electrification$22.0M$21.0M$22.0M$25.0M$27.0M$150.0M
Power$147.0M$116.0M$115.0M$116.0M$120.0M$117.0M
Wind$91.0M$54.0M$51.0M$56.0M$67.0M$58.0M

EBITDA

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Power$811.0M$517.0M$769.0M$645.0M$971.0M$811.0M
Electrification$283.0M$205.0M$331.0M$393.0M$504.0M$528.0M
Wind—-$146.0M-$166.0M-$61.0M-$225.0M-$382.0M

Equity method income (loss)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electrification$45.0M$50.0M$54.0M$57.0M$30.0M$56.0M
Power-$40.0M-$10.0M$16.0M$19.0M$8.0M$17.0M
Wind$4.0M$0.0$0.0$0.0$0.0$0.0

Equity method investments (Note 11)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Power$919.0M——$925.0M$922.0M$934.0M
Electrification$743.0M——$463.0M$479.0M$85.0M
Wind$49.0M——$32.0M$30.0M$28.0M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electrification$918.0M——$693.0M$624.0M$6.1B
Wind$3.0B——$3.3B$3.3B$3.3B
Power$310.0M——$328.0M$512.0M$512.0M

Number of business units

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electrification—————3.00

Other segment items

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electrification-$49.0M-$49.0M-$65.0M-$67.0M-$31.0M-$57.0M
Power-$13.0M-$13.0M-$46.0M-$45.0M-$43.0M-$55.0M
Wind-$18.0M-$11.0M$3.0M$16.0M$4.0M$1.0M

Property, plant, and equipment additions

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electrification$79.0M$36.0M$33.0M$41.0M$163.0M$1.0B
Power$214.0M$84.0M$69.0M$107.0M$313.0M$168.0M
Wind$40.0M$50.0M$46.0M$61.0M$36.0M$95.0M

Research and development expenses, excluding depreciation and amortization

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Power$127.0M$109.0M$123.0M$139.0M$178.0M$132.0M
Electrification$86.0M$82.0M$111.0M$115.0M$118.0M$107.0M
Wind$42.0M$33.0M$41.0M$43.0M$44.0M$36.0M

Restructuring and other charges

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Electrification$2.0M$2.0M$25.0M$22.0M$8.0M$62.0M
Power—$11.0M$13.0M$34.0M$18.0M$14.0M
Wind$24.0M$51.0M$1.0M$0.0$27.0M$6.0M

Selling, general, and administrative expenses, excluding depreciation and amortization

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Power$536.0M$468.0M$435.0M$436.0M$497.0M$445.0M
Electrification$322.0M$330.0M$334.0M$336.0M$350.0M$354.0M
Wind$136.0M$134.0M$141.0M$118.0M$134.0M$128.0M

Total Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Power$24.2B——$25.0B$26.8B$26.9B
Electrification$7.4B——$8.4B$9.0B$20.6B
Wind$10.0B——$10.9B$11.4B$11.8B

Total revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Power$5.4B$4.4B$4.7B$4.8B$5.7B$5.0B
Electrification$2.2B$1.8B$2.2B$2.6B$3.0B$3.0B
Wind$3.1B$1.9B$2.2B$2.6B$2.4B$1.4B