GE Vernova said RPO as of December 31, 2025 was $150.2 billion (December 31, 2024: $119.0 billion), and total revenues for the year ended December 31, 2025 were $38.1 billion, an increase of $3.1 billion.

10-KAnnual reportFiled Jan 29, 2026Period of report Dec 31, 2025Summary published (UTC) Oct 6, 2026

Key points

AI summary

GE Vernova said RPO as of December 31, 2025 was $150.2 billion (December 31, 2024: $119.0 billion), and total revenues for the year ended December 31, 2025 were $38.1 billion, an increase of $3.1 billion.
The company said net income for 2025 was $4.9 billion (net income margin 12.8%), an increase of $3.3 billion. It cited as factors a decrease in provision for income taxes of $3.0 billion (driven by a $2.9 billion benefit primarily from a U.S. tax valuation allowance release in Q4 2025).
GE Vernova said Adjusted EBITDA for 2025 was $3.2 billion (Adjusted EBITDA margin 8.4%), an increase of $1.2 billion, and cash flows from operating activities were $5.0 billion (2024: $2.6 billion), with free cash flow of $3.7 billion (2024: $1.7 billion).
On October 21, 2025, the company announced it will acquire the remaining fifty percent stake in Prolec GE, its unconsolidated joint venture with Xignux. GE Vernova said it will pay approximately $5.3 billion at closing, expected to be funded equally between cash and debt.

Key figures

Fiscal year ended December 31, 2025

Revenue: $38.1B
Operating income: $1.4B
Net income: $4.9B
EPS: $17.69
Gross profit: $7.5B
Operating cash flow: $5.0B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

RPO $150.2 billion, Total Revenues $38.1 billion

GE Vernova said RPO as of December 31, 2025 was $150.2 billion (December 31, 2024: $119.0 billion), and total revenues for the year ended December 31, 2025 were $38.1 billion, an increase of $3.1 billion.

Source · Based on the MD&A text of the filing

Net Income $4.9 billion and Tax Items

The company said net income for 2025 was $4.9 billion (net income margin 12.8%), an increase of $3.3 billion. It cited as factors a decrease in provision for income taxes of $3.0 billion (driven by a $2.9 billion benefit primarily from a U.S. tax valuation allowance release in Q4 2025).

Source · Based on the MD&A text of the filing

Adjusted EBITDA and Free Cash Flow

GE Vernova said Adjusted EBITDA for 2025 was $3.2 billion (Adjusted EBITDA margin 8.4%), an increase of $1.2 billion, and cash flows from operating activities were $5.0 billion (2024: $2.6 billion), with free cash flow of $3.7 billion (2024: $1.7 billion).

Source · Based on the MD&A text of the filing

Prolec GE Remaining Stake Acquisition

On October 21, 2025, the company announced it will acquire the remaining fifty percent stake in Prolec GE, its unconsolidated joint venture with Xignux. GE Vernova said it will pay approximately $5.3 billion at closing, expected to be funded equally between cash and debt.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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