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GE Vernova cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$5.4B in Q3 2026 · $17.1B over twelve months

Operating cash flow$6.1B
Capital spending−$647M
Free cash flow+$5.4B
Cash / net income4.7×
Cash conversion cycle140 days

Analysis

In Q3 2026, GE Vernova generated $6.1B of operating cash flow and spent $647M on capital projects, leaving free cash flow of $5.4B. That is $4.7B more than in Q3 2025 ($733M).

Over the twelve months to Sep 30, 2026, operating cash flow was $19.2B; the largest uses were buybacks ($6.4B), other investing ($3.8B), capital spending ($2.1B); besides operations, cash came from other financing ($1.6B), asset & business sales ($814M); the cash balance rose by $8.8B.

Operating cash flow was $6.1B against net income of $1.3B — 4.7× profit, cash ran ahead of reported earnings. The largest differences: deferred revenue +$5.8B, payables +$573M, depreciation & amortization +$439M.

Its cash conversion cycle was 140 days (receivables 83 + inventory 124 − payables 66).

Free cash flow

GE Vernova: free cash flow by quarterGE Vernova: free cash flow by quarter$571MQ4 2024$975MQ1 2025$194MQ2 2025$733MQ3 2025$1.8BQ4 2025$4.8BQ1 2026$5.1BQ2 2026$5.4BQ3 2026
Operating cash flow less capital spending.
GE Vernova: operating cash flow against capital spendingGE Vernova: operating cash flow against capital spendingOperating cash flowCapital spending$921M$350MQ4 2024$1.2B$186MQ1 2025$367M$173MQ2 2025$980M$247MQ3 2025$2.5B$671MQ4 2025$5.2B$397MQ1 2026$5.5B$386MQ2 2026$6.1B$647MQ3 2026
Latest (Q3 2026): Operating cash flow $6.1B, Capital spending $647M.

Capital allocation, year by year

GE Vernova: where the cash came from (up) and went (down), by fiscal yearGE Vernova: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2022: Operating cash flow −$114MFY2022: Net borrowing $15.0MFY2022: Asset sales $53.0MFY2022: Capital spending −$513M$68.0MFY2022FY2023: Operating cash flow $1.2BFY2023: Net borrowing $16.0MFY2023: Asset sales $60.0MFY2023: Capital spending −$744M$1.3BFY2023FY2024: Operating cash flow $2.6BFY2024: Net borrowing −$23.0MFY2024: Shares issued $130MFY2024: Asset sales $838MFY2024: Capital spending −$883MFY2024: Buybacks −$43.0M$3.6BFY2024FY2025: Operating cash flow $5.0BFY2025: Shares issued $55.0MFY2025: Asset sales $99.0MFY2025: Capital spending −$1.3BFY2025: Buybacks −$3.3BFY2025: Dividends −$275M$5.1BFY2025
Over these 4 years operating cash flow totalled $8.6B; the largest uses were capital spending ($3.4B) and buybacks ($3.4B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$16.8B
Debt$2.9B
Net cash$13.9B
Due within a year$94.0M

GE Vernova funds itself: free cash flow was $17.1B over the last twelve months, and $16.8B of cash and investments stands against $2.9B of debt ($94.0M due within a year, 178.3× covered by cash).

Where the cash came from and went

GE Vernova: sources (+) and uses (−) of cash, Q3 2026GE Vernova: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$6.1BCash drawn (+) / kept (−)−$3.6BBuybacks−$1.6BCapital spending−$647MDividends−$133MOther investing−$41.0MExchange rates$37.0MOther financing−$25.0MAsset & business sales$13.0MAcquisitions$8.0M
GE Vernova: sources (+) and uses (−) of cash, TTM to Q3 2026GE Vernova: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$19.2BCash drawn (+) / kept (−)−$8.8BBuybacks−$6.4BOther investing−$3.8BCapital spending−$2.1BOther financing$1.6BAsset & business sales$814MDividends−$474MExchange rates−$35.0MNot reconciled$1.0M

From profit to cash

GE Vernova: net income to operating cash flow, Q3 2026GE Vernova: net income to operating cash flow, Q3 2026Net income$1.3BDepreciation & amortization$439MInventory−$308MPayables$573MDeferred revenue$5.8BContract assets$13.0MPrepaid and other assets$35.0MOther liabilities$230MOperating cash flow$6.1B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20268312466140
Q2 20268512867145
Q1 20269313372155
Q4 20257210962119
Q3 20256611366113
Q2 20257011969121
Q1 20258612270138

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$6.1B−$647M$8.0M−$1.6B−$133M——−$3.6B$5.4B
Q2 2026$5.5B−$386M$1.0M−$2.4B−$136M——−$2.9B$5.1B
Q1 2026$5.2B−$397M−$4.9B−$1.3B−$137M$2.6B—−$1.3B$4.8B
Q4 2025$2.5B−$671M—−$1.1B−$68.0M——−$902M$1.8B
Q3 2025$980M−$247M−$119M−$660M−$68.0M——−$54.0M$733M
Q2 2025$367M−$173M−$5.0M−$480M−$70.0M——$214M$194M
Q1 2025$1.2B−$186M−$40.0M−$1.1B−$69.0M——$98.0M$975M
Q4 2024$921M−$350M—−$3.0M——$19.0M−$810M$571M

GE Vernova: income statement and cash flow

GE Vernova, Q3 2026: revenue $12.6B (+27% year over year), operating margin 11.0%. The chart follows the revenue to costs, profit and cash.

GE Vernova: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.