Filing Flows › GE Vernova (GEV) › Q3 2026 › vs Q3 2025
GE Vernova (GEV) Q3 2026 vs Q3 2025 (year over year)
GE Vernova's revenue rose $2.7B (+27%) from $10.0B in Q3 2025 to $12.6B in Q3 2026. The biggest changes: Equipment +$2.5B (+42%); Services +$213M (+5%). Gross margin 24.6% against 19.0% (+5.5 pts).
GE Vernova, Q3 2026: revenue $12.6B (+27% year over year), operating margin 11.0%, net earnings $1.3B, operating cash flow $6.1B. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 24.6% | 19.0% | +5.5 pts |
| Operating margin | 11.0% | 3.7% | +7.4 pts |
| Net margin | 10.2% | 4.5% | +5.7 pts |
| Free cash flow margin | 42.8% | 7.4% | +35.4 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Equipment | $8.3B | $5.9B | $2.5B | +42% |
| Services | $4.3B | $4.1B | $213M | +5% |
| Revenue | $12.6B | $10.0B | $2.7B | +27% |
| Gross profit | $3.1B | $1.9B | $1.2B | +64% |
| Cost of revenue | $9.5B | $8.1B | $1.5B | +18% |
| Other income, net | $388M | $380M | $8.0M | +2% |
| Operating profit | $1.4B | $366M | $1.0B | +281% |
| Operating expenses | $1.7B | $1.5B | $182M | +12% |
| Pre-tax earnings | $1.8B | $746M | $1.0B | +139% |
| Research & development | $358M | $310M | $48.0M | +15% |
| SG&A | $1.4B | $1.2B | $133M | +11% |
| Loss borne by minority interests | $2.0M | −$1.0M | $3.0M | — |
| Net earnings | $1.3B | $452M | $839M | +186% |
| Income tax | $493M | $293M | $200M | +68% |
| Depreciation & amortization | $439M | $213M | $226M | +106% |
| Working capital & other | $4.3B | $315M | $4.0B | 14× |
| Operating cash flow | $6.1B | $980M | $5.1B | +518% |
| Free cash flow (OCF − capex) | $5.4B | $733M | $4.7B | +638% |
| Capital expenditures | $647M | $247M | $400M | +162% |
Questions
How much did GE Vernova's revenue grow year over year in Q3 2026?
GE Vernova's revenue rose $2.7B (+27%) from $10.0B in Q3 2025 to $12.6B in Q3 2026.
What drove GE Vernova's revenue change in Q3 2026?
Equipment +$2.5B (+42%); Services +$213M (+5%).