Forensic Analysis · Industrials / Manufacturing / Defense · as of Aug 7, 2026
Ge Vernova Inc. (GEV)
A forensic read on Ge Vernova Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Safe
Financial health
5.9
Distress distance
Clean
Earnings quality
4
Forensic signals
28.0
P / E (ttm)
43.7%
ROE
$264.0B
Market cap
0.20%
Dividend yield
9.0%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Ge Vernova Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 5.9, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
5.7%
FY2025
Return on invested capital.Return on invested capital is 5.7% in the latest fiscal year and rising from 2% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
+16.9%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +16.9% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by inventory up +21% against +6% in cost of sales and receivables up +20% against revenue +9%. The cash-flow cross-check is more mixed: reported earnings ran in line with operating cash by 1% of net operating assets, diverging from the balance-sheet accrual read.
125d
FY2024→FY2025
Inventory days.Days inventory outstanding moved from 109 to 125 FY2024→FY2025 (against cost of goods sold; inventory +21% vs +6% in cost of sales). Inventory is building a little faster than sales — watch for markdowns. There's no FY2023 figure on file for inventory, so FY2024 has no opening balance to average against — both figures are measured on period-end balances rather than the beginning-plus-ending average, since averaging only the current year would make the move track balance-sheet growth rather than the business.
97% of FCF
FY2025
Shareholder returns.Returned $3.6B to shareholders (buybacks + dividends) in FY2025 — 97% of free cash flow. Right at the limit of what free cash flow covers — little room before it's funded by debt or the balance sheet. That ratio has been CLIMBING toward the limit — 3% of free cash flow the year before — not just sitting there. Counting the $257M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 104%.
Key fundamentals
Latest Revenue$38.07B
Revenue Growth YoY+9.0%
Net Margin12.8%
Free Cash Flow$3.71B
Return on Equity43.7%
Debt / Equity0.25x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Ge Vernova Inc.'s actual 10-K/10-Q/8-K filings?