Key Stats for GE Vernova Stock
- This Week Performance: -9.7%
- 52-Week Range: $252.3 to $894.9
- Current Price: $832.1
What Happened?
Power equipment maker GE Vernova (GEV), which builds gas turbines, grid transformers, and wind turbines for utilities and hyperscalers worldwide, entered 2026 with a $150 billion backlog after adding $8 billion in equipment margin dollars in 2025 alone, with shares trading at $832.
The January 28 Q4 earnings call delivered the trigger: management raised full-year 2026 revenue guidance to $44–$45 billion from $41–$42 billion, lifted free cash flow guidance to $5–$5.5 billion, doubled the dividend, and expanded the share repurchase authorization to $10 billion.
GE Vernova’s Electrification segment, which makes transformers and switchgear that connect power generation to the grid, grew revenue 26% in 2025 and expanded EBITDA margins 560 basis points to 14.9%, fueled by over $2 billion in direct data center orders, more than triple the 2024 total.
CEO Scott Strazik stated on the Q4 2025 earnings call that “Electrification generated about $5 billion in revenue in ’22, and we now expect that number to be $13.5 billion to $14 billion in ’26, and we are just getting started.”
GE Vernova’s $200 million Hai Phong transformer facility announced March 9, a $30 million Italy plant expansion on March 3, and three Vietnam LNG turbine supply agreements signed March 10 collectively extend its manufacturing footprint for HVDC grid infrastructure, positioning the company to capture a $150 billion addressable electrification market as its 2028 target of at least $56 billion in revenue and 20% EBITDA margins comes into focus.
Wall Street’s Take on GEV Stock
The $150 billion backlog GE Vernova carried into 2026, loaded with higher-priced Power and Electrification orders signed in 2024 and 2025, now functions as a forward earnings guarantee that the current share price at $832 does not fully reflect.
Consensus estimates project EBITDA margins expanding from 12.9% in 2025 to 17.1% in 2026 and 20.4% by 2028, supported by the $8 billion in backlog margin dollars added last year and the Prolec GE acquisition adding $3 billion in Electrification revenue.
Analysts have grown steadily more bullish, with 22 buy ratings, 6 outperforms, 4 holds, and just 1 sell among 30 covering analysts, producing a mean price target of $860.62 that implies 3.4% upside from the March 12 close of $832.11.
The analyst target range runs from $600 on the low end to $1,100 on the high end, with the bear case anchored to persistent Wind losses and tariff headwinds while the bull case prices in accelerating gas turbine deliveries beginning in Q3 2026.
What Does the Valuation Model Say?
The TIKR mid-case model prices GEV at $2,758.50 by December 2030, implying a 231.5% total return and a 28.3% annualized IRR, assuming a 12.2% revenue CAGR and net income margins expanding to 16.8% as higher-margin backlog converts to revenue from 2027 onward.
The market is pricing GEV on 2025 earnings power, but the $64 billion equipment backlog carries 6 additional margin points already contracted, making today’s multiple look deceptively expensive.
GEV’s transformer labor hours rose 39% in Q4 2025 while output grew more than 50% year-over-year, proving the operational productivity gains that underpin the margin staircase are already running at scale.
CEO Scott Strazik confirmed on the Q4 earnings call that slot reservation agreements carry pricing 10 to 20 points above existing backlog, signaling that the margin expansion has not yet peaked as new contracts convert to orders through 2026.
The Wind segment, projected to lose $400 million in 2026, remains the model’s pressure point, and any escalation in offshore contract losses beyond already-accrued amounts would compress free cash flow guidance of $5 to $5.5 billion.
Scott Strazik’s Bank of America Global Industrials Conference presentation on March 18 is the next event to watch for updated gas turbine order cadence and any revised commentary on the path to 100 gigawatts under contract by year-end.
Should You Invest in GE Vernova?
The only way to really know is to look at the numbers yourself. TIKR gives you free access to the same institutional-quality financial data that professional analysts use to answer exactly that question.
Pull up GEV stock and you’ll see years of historical financials, what Wall Street analysts expect for revenue and earnings in the quarters ahead, how valuation multiples have moved over time, and whether price targets are trending up or down.
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