GE Vernova Inc. (GEV) Balance Sheet
GEV balance sheet, 2025
December 31, 2025 · U.S. dollars$63.02B assets = $50.72B liabilities + $12.29B equity
Both columns are drawn to the same scale: what GEV owns equals what it owes plus shareholders’ equity. Hover a block for its value.
GEV financial health
Descriptive bands, not a rating. Fiscal 2025.
GEV balance sheet trends, 2022–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $44.47B2022 | $63.02B2025 | +12.3%/yr | |
| Total liabilities | $32.86B2022 | $50.72B2025 | +15.6%/yr | |
| Shareholders’ equity | $10.65B2022 | $11.18B2025 | +1.6%/yr | |
| Cash & short-term investments | $2.07B2022 | $8.85B2025 | +62.4%/yr | |
| Total debt | $1.66B2022 | $328.0M2025 | −41.7%/yr | |
| Net cash (debt) | $411.0M2022 | $8.52B2025 | +$8.1B | |
| Working capital | −$141.0M2022 | −$756.0M2025 | −$615.0M | |
| Book value per share | $39.142022 | $40.502025 | +1.1%/yr | |
| Current ratio | 0.992022 | 0.982025 | −0.01 | |
| Debt / equity | 0.162022 | 0.032025 | −0.13 | |
| Shares outstanding | 272.1M2022 | 276.0M2025 | +0.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
GEV assets
GEV liabilities and equity
GEV debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
GEV balance sheet
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Assets | ||||
| Cash & short-term investments | $8.85B | $8.21B | $1.55B | $2.07B |
| Cash & equivalents | $8.85B | $8.21B | $1.55B | $2.07B |
| Short-term investments | $466.0M | $0 | $2.03B | — |
| Receivables | $19.10B | $16.80B | $15.97B | $14.88B |
| Inventory | $10.43B | $7.82B | $7.20B | $6.75B |
| Other current assets | $1.84B | $1.33B | $2.71B | $2.21B |
| Total current assets | $40.22B | $34.15B | $27.43B | $25.90B |
| Property, plant & equipment (net) | $6.01B | $5.15B | $5.23B | $5.11B |
| Goodwill & intangible assets | $5.17B | $5.08B | $5.48B | $5.34B |
| Long-term investments | $1.83B | $2.15B | $2.34B | $3.69B |
| Other non-current assets | $9.79B | $4.96B | $5.64B | $4.44B |
| Total assets | $63.02B | $51.48B | $46.12B | $44.47B |
| Liabilities | ||||
| Accounts payable | $5.72B | $4.94B | $4.70B | $4.23B |
| Short-term debt | $63.0M | $241.0M | $365.0M | $320.0M |
| Deferred revenue | $25.77B | $17.59B | $15.07B | $11.84B |
| Total current liabilities | $40.97B | $31.68B | $29.31B | $26.04B |
| Long-term debt | $265.0M | $248.0M | $284.0M | $304.0M |
| Lease obligations | $844.0M | $725.0M | $718.0M | $663.0M |
| Other long-term liabilities | $9.48B | $8.96B | $8.15B | $6.52B |
| Total liabilities | $50.72B | $40.89B | $37.74B | $32.86B |
| Shareholders' equity | ||||
| Common stock & paid-in capital | $3.0M | $3.0M | $8.05B | $12.11B |
| Retained earnings (deficit) | $6.15B | $1.61B | $8.05B | $12.11B |
| Accumulated other comprehensive income | −$1.41B | −$1.76B | −$635.0M | −$1.46B |
| Minority interest | $1.12B | $1.05B | $964.0M | $957.0M |
| Total shareholders' equity | $11.18B | $9.55B | $7.42B | $10.65B |
| Key figures | ||||
| Total debt | $328.0M | $1.62B | $1.71B | $1.66B |
| Net cash (debt) | $8.52B | $6.58B | −$158.0M | $411.0M |
| Working capital | −$756.0M | $2.47B | −$1.88B | −$141.0M |
| Tangible book value | $6.01B | $4.47B | $1.94B | $5.31B |
| Book value per share | $40.50 | $34.34 | $27.26 | $39.14 |
| Shares outstanding | 276.0M | 278.0M | 272.1M | 272.1M |
| Current ratio | 0.98 | 1.08 | 0.94 | 0.99 |
| Quick ratio | 0.68 | 0.79 | 0.60 | 0.65 |
| Debt / equity | 0.03 | 0.17 | 0.23 | 0.16 |
| Equity / assets | 17.7% | 18.5% | 16.1% | 23.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & short-term investments | $13.12B | $10.17B | $8.85B | $7.95B | $7.89B | $8.11B | $8.21B | $7.39B | $5.78B | $3.25B | $1.55B |
| Cash & equivalents | $13.12B | $10.17B | $8.85B | $7.95B | $7.89B | $8.11B | $8.21B | $7.39B | $5.78B | $3.25B | $1.55B |
| Short-term investments | — | — | $466.0M | — | — | — | $0 | $1.00B | — | — | — |
| Receivables | $20.62B | $19.18B | $19.10B | $16.86B | $16.44B | $16.18B | $16.80B | $15.82B | $15.13B | $15.68B | $15.97B |
| Inventory | $11.96B | $11.92B | $10.43B | $9.22B | $9.04B | $8.51B | $7.82B | $8.27B | $8.11B | $8.86B | $7.20B |
| Other current assets | $1.73B | $0 | $1.84B | $2.25B | $1.34B | $497.0M | $1.33B | $551.0M | $463.0M | $1.45B | $2.71B |
| Total current assets | $47.43B | $41.27B | $40.22B | $36.28B | $34.71B | $33.28B | $34.15B | $32.03B | $29.48B | $29.24B | $27.43B |
| Property, plant & equipment (net) | $7.35B | $7.14B | $6.01B | $5.55B | $5.42B | $5.22B | $5.15B | $5.15B | $5.17B | $5.22B | $5.23B |
| Goodwill & intangible assets | $14.20B | $14.40B | $5.17B | $5.07B | $5.27B | $5.14B | $5.08B | $5.31B | $5.28B | $5.39B | $5.48B |
| Long-term investments | $1.38B | $1.40B | $1.83B | $1.92B | $2.17B | $2.14B | $2.15B | $2.38B | $2.40B | $3.65B | $2.34B |
| Other non-current assets | $10.43B | $11.41B | $9.79B | $5.58B | $5.51B | $5.77B | $4.96B | $5.99B | $5.71B | $4.36B | $5.64B |
| Total assets | $80.80B | $75.61B | $63.02B | $54.40B | $53.08B | $51.56B | $51.48B | $50.85B | $48.05B | $47.87B | $46.12B |
| Liabilities | |||||||||||
| Accounts payable | $10.10B | $6.33B | $5.72B | $5.89B | $5.75B | $5.21B | $4.94B | $5.40B | $4.70B | $4.33B | $4.70B |
| Short-term debt | $1.17B | $51.0M | $0 | $0 | $0 | $0 | $241.0M | — | — | — | $365.0M |
| Deferred revenue | $39.94B | $31.83B | $25.77B | $20.15B | $19.60B | $18.71B | $17.59B | $16.91B | $16.54B | $15.92B | $15.07B |
| Total current liabilities | $55.83B | $48.09B | $40.97B | $35.27B | $33.76B | $32.68B | $31.68B | $31.23B | $29.07B | $29.52B | $29.31B |
| Long-term debt | $2.79B | $2.81B | $0 | $0 | $0 | $0 | $820.0M | $0 | $0 | $0 | $819.0M |
| Lease obligations | — | — | $844.0M | — | — | — | $562.0M | — | — | — | $525.0M |
| Other long-term liabilities | $9.06B | $9.65B | $9.75B | $9.40B | $9.37B | $9.21B | $8.39B | $9.10B | $8.94B | $8.38B | $7.62B |
| Total liabilities | $67.69B | $60.55B | $50.72B | $44.67B | $43.13B | $41.89B | $40.89B | $40.34B | $38.00B | $37.89B | $37.74B |
| Shareholders' equity | |||||||||||
| Common stock & paid-in capital | $3.0M | $3.0M | $3.0M | $3.0M | $3.0M | $3.0M | $3.0M | $3.0M | $3.0M | $9.66B | — |
| Retained earnings (deficit) | $11.30B | $10.76B | $6.15B | $2.63B | $2.24B | $1.86B | $1.61B | $1.20B | $1.29B | — | $0 |
| Accumulated other comprehensive income | −$1.73B | −$1.57B | −$1.41B | −$1.44B | −$1.45B | −$1.66B | −$1.76B | −$1.03B | −$1.03B | $8.97B | −$635.0M |
| Minority interest | $1.16B | $1.14B | $1.12B | $1.08B | $1.07B | — | — | — | — | — | — |
| Total shareholders' equity | $11.96B | $13.92B | $11.18B | $8.65B | $8.88B | $8.61B | $9.55B | $9.50B | $9.07B | $8.97B | $7.42B |
| Key figures | |||||||||||
| Total debt | $3.96B | $2.86B | $0 | $0 | $1.06B | $1.01B | $1.62B | — | $979.0M | $1.02B | $1.71B |
| Net cash (debt) | $9.16B | $7.32B | $8.85B | $7.95B | $6.83B | $7.09B | $6.58B | — | $4.80B | $2.23B | −$158.0M |
| Working capital | −$8.40B | −$6.83B | −$756.0M | $1.01B | $948.0M | $608.0M | $2.47B | $797.0M | $420.0M | −$273.0M | −$1.88B |
| Tangible book value | −$2.24B | −$476.0M | $6.01B | $3.57B | $3.61B | $3.47B | $4.47B | $4.19B | $3.79B | $3.58B | $1.94B |
| Book value per share | $44.29 | $51.18 | $40.50 | $31.44 | $32.16 | $30.85 | $34.34 | $34.56 | $32.62 | $32.98 | $27.26 |
| Shares outstanding | 270.0M | 272.0M | 276.0M | 275.0M | 276.0M | 279.0M | 278.0M | 275.0M | 278.0M | 272.1M | 272.1M |
| Current ratio | 0.85 | 0.86 | 0.98 | 1.03 | 1.03 | 1.02 | 1.08 | 1.03 | 1.01 | 0.99 | 0.94 |
| Quick ratio | 0.60 | 0.61 | 0.68 | 0.70 | 0.72 | 0.74 | 0.79 | 0.74 | 0.72 | 0.64 | 0.60 |
| Debt / equity | 0.33 | 0.21 | 0.00 | 0.00 | 0.12 | 0.12 | 0.17 | — | 0.11 | 0.11 | 0.23 |
| Equity / assets | 14.8% | 18.4% | 17.7% | 15.9% | 16.7% | 16.7% | 18.5% | 18.7% | 18.9% | 18.7% | 16.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed January 29, 2026); data from EODHD.
GEV financial position
At the end of fiscal 2025 (December 31, 2025), GE Vernova had total assets of $63.0 billion (up 22.4% from a year earlier), total liabilities of $50.7 billion and shareholders' equity of $11.2 billion. It held $8.8 billion in cash and short-term investments against $328.0 million of debt, a net cash position of $8.5 billion. Its current ratio was 0.98. In the latest quarter (ended June 30, 2026) total assets were $80.8 billion and equity $12.0 billion.
Related: GEV income statement, GEV cash flow statement, GEV key metrics. See the GEV stock overview for the latest quote and news.
GEV balance sheet FAQ
What are GE Vernova's total assets?
GE Vernova reported total assets of $63.0 billion at the end of fiscal 2025 (December 31, 2025), compared with $51.5 billion a year earlier.
How much debt does GE Vernova have?
GE Vernova had $328.0 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.03.
How much cash does GE Vernova have?
GE Vernova held $8.8 billion in cash and short-term investments at the end of fiscal 2025; with $328.0 million of debt that is net cash of $8.5 billion.
What is GE Vernova's book value?
GE Vernova's shareholders' equity (book value) was $11.2 billion at the end of fiscal 2025, or $40.50 per share.
What is GE Vernova's current ratio?
GE Vernova had current assets of $40.2 billion and current liabilities of $41.0 billion, a current ratio of 0.98 (current liabilities exceed current assets).
How much goodwill does GE Vernova have?
GE Vernova carried $5.2 billion of goodwill and intangible assets, 8.2% of total assets, at the end of fiscal 2025.