GE Vernova Inc. (GEV)财务
NYSE · Industrials · Industrial - Machinery · 员工78,000人 · CEO Scott L. Strazik
- 股价
- $857.87 -3.38%
- 市值
- $2270亿
- 企业价值
- $2130亿
- 最近财报
- Q3 '26 2026-10-28提交
- 下次财报
- 2027-01-27 EPS预期 $6.60
营收(TTM)$440亿+16.9% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)6.4%+2.7 百分点 对比去年同期营业利润 $28.3亿
净利润(TTM)$104亿+508.5% 对比去年同期税后,含营业外收益
自由现金流(TTM)$171亿+592.1% 对比去年同期资本支出 $21亿
稀释EPS(TTM)$38.00+518.9% 对比去年同期最近4个季度之和
净现金$139亿+75.4% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $2270亿 EV $2130亿
- 营收
- $440亿 过去12个月
- 营收增速
- +23% FY2026年一致预期
- 净利润率
- 23.5% 净利润 / 营收,TTM
- P/E
- 22.3× 预期 27.2×(FY2026)
- P/S
- 5.2× 股价 / 营收,TTM
- EV / EBITDA
- 20.6× TTM
- 自由现金流
- $171亿 过去12个月
- 净利润
- $104亿 过去12个月
- 营收预期
- $469亿 FY2026年一致预期
- 盈利
- 2027-01-27 营收预期 $139亿
- 股息
- $1.75 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-28):营收超预期5.4%,EPS 超预期19.4%营收$126亿,预期$120亿(+5.4%);EPS $4.81,预期$4.03(+19.4%)。
- 营收增长加速:同比26.8%Q3 '26营收$126亿,此前四个季度的平均值为13.4%。
- 营业利润率6.4%(TTM),较去年同期+2.7 百分点营收增长16.9%,营业利润增长100.2%。
- 税前利润的68.3%来自营业外收益税前利润$89.2亿,营业利润$28.3亿(TTM)。股权投资收益等一次性项目推高了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的4.8%(去年为2.5%)最近4个季度投入$21亿(同比+119.8%)。自由现金流$171亿,相当于净利润的165.1%。
- 股东回报$68.5亿 = 自由现金流的40.0%回购$63.7亿(去年为$22.4亿),股息$4.74亿,股权激励$0(TTM)。
- 稀释股数一年内减少2.5%Q3 '26稀释股数2.68亿,一年前为2.75亿。
- 净现金 $139亿现金 + 短期投资 $168亿,含租赁债务 $28.3亿;一年前净现金 $79.5亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $126亿 | $99.7亿 | +26.8% |
| 毛利率 | 24.6% | 19.0% | +5.5 百分点 |
| 营业利润 | $13.9亿 | $3.66亿 | +280.9% |
| 营业利润率 | 11.0% | 3.7% | +7.4 百分点 |
| 净利润 | $12.9亿 | $4.52亿 | +185.6% |
| 稀释EPS | $4.81 | $1.64 | +193.3% |
| 经营现金流 | $60.6亿 | $9.8亿 | +518.1% |
| 资本支出 | $6.47亿 | $2.47亿 | +161.9% |
| 自由现金流 | $54.1亿 | $7.33亿 | +638.1% |
| R&D | $3.58亿 | $3.1亿 | +15.5% |
| 股权激励费用 | $0 | $0 | – |
实际 vs 一致预期
2026-10-28| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $126亿 | $120亿 | +5.4% |
| EPS(一致预期口径) | $4.81 | $4.03 | +19.4% |
来自2026-10-28发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Product | $83.4亿 | +41.8% | 66.0% | $260亿 | +24.9% | |
| Service | $43亿 | +5.2% | 34.0% | $180亿 | +6.9% | |
| Power Segment | – | – | – | – | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $192亿
- 资本支出
- -$21亿
- 股票回购
- -$63.7亿
- 股息
- -$4.74亿
- 收购
- -$42.8亿
- 债务净发行
- $25.7亿
- 股权激励费用
- $0
- 自由现金流
- $171亿
- 股东回报 / FCF
- 40.0%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 22.3× | 47.4× 5年中的2年 | 36.5× – 58.3× |
| EV / EBITDA | 20.6× | 35.7× 5年中的3年 | 22.9× – 45.9× |
| EV / 营收 | 4.8× | 2.3× 5年中的4年 | 1.1× – 4.4× |
| 股价 / FCF | 13.3× | 60.6× 5年中的3年 | 47.9× – 80.8× |
| 股价 / 净资产 | 20.0× | 8.4× 5年中的4年 | 3.4× – 15.9× |
| FCF收益率 | 7.5% | -0.6% | -6.3% – 2.1% |
| 投入资本回报率 | 28.1% | -2.5% | -15.4% – 6.3% |
| 净资产收益率 | 85.6% | 5.7% | -25.7% – 43.7% |
分析师
一致目标价 $1,240.56 (+44.6%)
区间 $949.00 – $1,450.00 · 评级 Buy
强烈买入0
买入22
持有6
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $469亿 | +23.2% | $31.51 | +78.1% | 27.2× | 16 |
| FY2027 | $537亿 | +14.5% | $25.70 | -18.5% | 33.4× | 19 |
| FY2028 | $621亿 | +15.8% | $35.99 | +40.1% | 23.8× | 19 |
| FY2029 | $707亿 | +13.9% | $45.93 | +27.6% | 18.7× | 8 |
| FY2030 | $806亿 | +14.0% | $58.67 | +27.7% | 14.6× | 14 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
GE Vernova Inc.在近期10-Q / 10-K文件中标记的全部324项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable and Other Accrued Liabilities, Current | $108亿 | $95.4亿 | +13.0% | $88.1亿 | $86亿 | +2.4% |
| Accounts Payable, Trade, Current | $71.1亿 | $58.9亿 | +20.8% | $57.2亿 | $49.7亿 | +15.2% |
| Accounts Receivable, Allowance for Credit Loss, Current | $3.65亿 | $4.43亿 | -17.6% | $4.41亿 | $4.64亿 | -5.0% |
| Accounts Receivable, Allowance for Credit Loss, Noncurrent | $1.96亿 | $1.2亿 | +63.3% | $1.97亿 | $1.42亿 | +38.7% |
| Accounts Receivable, Allowance for Credit Loss, Writeoff | $7000万 | $1200万 | +483.3% | $3000万 | $3600万 | -16.7% |
| Accounts Receivable, before Allowance for Credit Loss, Current | $91.4亿 | $56.6亿 | +61.4% | $78.7亿 | $63.1亿 | +24.6% |
| Accounts Receivable, before Allowance for Credit Loss, Noncurrent | $2.1亿 | $3.07亿 | -31.6% | $2.28亿 | $2.82亿 | -19.1% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $100万 | -$1400万 | +107.1% | $200万 | $3300万 | -93.9% |
| Accrual for Environmental Loss Contingency, Undiscounted, to be Paid, Year One | $2400万2025-12-31 | $1300万 | +84.6% | $2400万 | $1300万 | +84.6% |
| Accrual for Environmental Loss Contingency, Undiscounted, to be Paid, Year Two | $2000万2025-12-31 | $1100万 | +81.8% | $2000万 | $1100万 | +81.8% |
| Accrual for Taxes Other than Income Taxes, Current | $2.95亿 | $2.72亿 | +8.5% | $3.35亿 | $3.75亿 | -10.7% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $82.8亿 | $81.4亿 | +1.7% | – | – | – |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$18.7亿 | -$14.4亿 | -30.3% | -$14.1亿 | -$17.6亿 | +20.0% |
| Additional Paid in Capital | $95亿 | $97.6亿 | -2.6% | $98.1亿 | $97.3亿 | +0.8% |
| Amortization of Intangible Assets | $2.39亿 | $6100万 | +291.8% | $2.38亿 | $2.77亿 | -14.1% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 100万 | -100.0% | 100万 | 100万 | 0.0% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $5900万 | $5400万 | +9.3% | $2.57亿 | $1.55亿 | +65.8% |
| Asset Retirement Obligation | $5.54亿 | $5.48亿 | +1.1% | $5.41亿 | $6.22亿 | -13.0% |
| Asset Retirement Obligations, Noncurrent | $5.41亿2025-12-31 | $5.1亿 | +6.1% | $5.41亿 | $5.1亿 | +6.1% |
| Assets | $862亿 | $544亿 | +58.5% | $630亿 | $515亿 | +22.4% |
| Assets for Plan Benefits, Defined Benefit Plan | $11.6亿2025-12-31 | $8.9亿 | +30.7% | $11.6亿 | $8.9亿 | +30.7% |
| Assets, Current | $517亿 | $363亿 | +42.5% | $402亿 | $342亿 | +17.8% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $168亿 | $79.5亿 | +111.0% | $88.5亿 | $82.1亿 | +7.8% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $36.4亿 | $5400万 | +6,648.1% | $6.44亿 | $60.5亿 | -89.4% |
| CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectContinuingOperations | $36.4亿 | $5300万 | +6,775.5% | $6.43亿 | $66.5亿 | -90.3% |
| CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectDisposalGroupIncludingDiscontinuedOperations | $0 | $200万 | -100.0% | $200万 | -$6.03亿 | +100.3% |
| Common Stock, Dividends, Per Share, Declared | $0.50 | $0.25 | +100.0% | $1.25 | $0.25 | +400.0% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 10亿 | 10亿 | 0.0% | 10亿 | 10亿 | 0.0% |
| Common Stock, Shares, Issued | 2.65亿 | – | – | 2.7亿 | 2.76亿 | -2.3% |
| Common Stock, Shares, Outstanding | 2.65亿 | 2.71亿 | -2.4% | 2.7亿 | 2.76亿 | -2.3% |
| Common Stock, Value, Issued | $300万 | $300万 | 0.0% | $300万 | $300万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | -$2200万 | $100万 | -2,300.0% | -$200万 | $1100万 | -118.2% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $11.5亿 | $4.59亿 | +150.1% | $52.4亿 | $4.28亿 | +1,123.1% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $11.3亿 | $4.6亿 | +144.8% | $52.3亿 | $4.39亿 | +1,092.0% |
| Contract with Customer, Asset, after Allowance for Credit Loss, Current | $93.2亿 | $94.9亿 | -1.7% | $92.9亿 | $86.2亿 | +7.8% |
| Contract with Customer, Asset, Cumulative Catch-up Adjustment to Revenue, Change in Measure of Progress | -$13.2亿 | -$12.5亿 | -5.7% | -$53.6亿 | -$50.2亿 | -6.8% |
| Contract with Customer, Liability | $457亿 | $203亿 | +125.3% | $260亿 | $177亿 | +46.2% |
| Contract with Customer, Liability, Cumulative Catch-up Adjustment to Revenue, Change in Estimate of Transaction Price | -$3.41亿2025-12-31 | -$2.26亿 | -50.9% | -$6.37亿 | -$10.1亿 | +36.6% |
| Contract with Customer, Liability, Current | $457亿 | $202亿 | +126.6% | $258亿 | $176亿 | +46.6% |
| Contract with Customer, Liability, Noncurrent | $7700万 | $1.53亿 | -49.7% | $1.75亿 | $1.57亿 | +11.5% |
| Contract with Customer, Liability, Revenue Recognized | $31.8亿 | $26.8亿 | +18.5% | $112亿 | $99.3亿 | +13.0% |
| Cost of Goods and Services Sold | $95.4亿 | $80.7亿 | +18.2% | $305亿 | $289亿 | +5.8% |
| Current Federal Tax Expense (Benefit) | – | – | – | $2.8亿 | $2.72亿 | +2.9% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $8.66亿 | $6.36亿 | +36.2% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $7700万 | $5500万 | +40.0% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $5500万 | – | – | – | – | – |
| Decommissioning Liability, Noncurrent | $4.74亿 | $4.66亿 | +1.7% | $4.59亿 | $5.46亿 | -15.9% |
| Deferred Compensation Liability, Classified, Noncurrent | $21.6亿 | $32亿 | -32.4% | $31.7亿 | $32.6亿 | -2.8% |
| Deferred Costs, Current | $9.61亿 | $8.12亿 | +18.3% | $7.86亿 | $7.69亿 | +2.2% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$30.7亿 | -$1000万 | -30,590.0% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $3.06亿 | -$1300万 | +2,453.8% |
| Deferred Income Tax Assets, Net | $65.2亿 | $16.8亿 | +287.1% | $53.2亿 | $16.4亿 | +224.6% |
| Deferred Income Tax Liabilities, Net | $14.7亿 | $8.2亿 | +79.1% | $11.6亿 | $8.27亿 | +40.5% |
| Deferred Income Taxes and Other Tax Liabilities, Noncurrent | $11.8亿2025-12-31 | $11.7亿 | +0.7% | $11.8亿 | $11.7亿 | +0.7% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$5.11亿 | -$100万 | -51,000.0% |
| Deferred Tax Assets, Goodwill and Intangible Assets | $5.63亿2025-12-31 | $5.03亿 | +11.9% | $5.63亿 | $5.03亿 | +11.9% |
| Deferred Tax Assets, Gross | $101亿2025-12-31 | $103亿 | -2.1% | $101亿 | $103亿 | -2.1% |
| Deferred Tax Assets, Net | $41.6亿2025-12-31 | $8.12亿 | +412.2% | $41.6亿 | $8.12亿 | +412.2% |
| Deferred Tax Assets, Net of Valuation Allowance | $53亿2025-12-31 | $19.2亿 | +176.8% | $53亿 | $19.2亿 | +176.8% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-01