GE Vernova stock forecast
GE Vernova’s weighted forecast reaches $1,585.16 in October 2027. GE Vernova’s forecast hinges on converting demand into profitable deliveries and cash while reducing Wind losses.
Where could GE Vernova’s shares be by 2029?
The weighted price is $1,585.16 in October 2027, a 59% total return including dividends. It is $1,456.06 in October 2029, a 47% total return including dividends. The bear case has 30% probability, the base case 50% and the bull case 20%.
The weighted forecast points to substantial upside, but it does not make that outcome certain. The shares could reach $1,585.16 in October 2027, a 59% total return including dividends. The weighted price is $1,506.43 in October 2028, a 51% return, and $1,456.06 in October 2029, a 47% return.
| Case | Probability | October 2027 | October 2028 | October 2029 |
|---|---|---|---|---|
| Bear | 30 % | 980.89 (-1 %) | 965.55 (-3 %) | 976.61 (-2 %) |
| Base | 50 % | 1755.38 (+76 %) | 1649.57 (+66 %) | 1555.53 (+57 %) |
| Bull | 20 % | 2065.99 (+107 %) | 1959.86 (+97 %) | 1926.57 (+94 %) |
| Weighted | 100 % | 1585.16 (+59 %) | 1506.43 (+51 %) | 1456.06 (+47 %) |
What could go right or wrong for GE Vernova?
The bear case assumes strong demand fails to become timely, profitable delivery. Supplier limits, factory delays, Wind losses and warranty costs hold operating profit down, while customer advances reverse as projects consume materials and labour. The price reaches $980.89 in October 2027 and $976.61 by October 2029. Its 30% probability reflects three loss-making years from 2021 through 2023 and the continuing Wind loss, although substantial net cash makes financial distress unlikely.
The bull case assumes reservations become firm orders, factories and suppliers keep pace, and the growing gas fleet creates higher-margin service revenue. Wind losses shrink, so earnings and cash conversion support a premium valuation. The price reaches $2,065.99 initially and $1,926.57 by October 2029. Its 20% probability reflects the upside from gas, grid and service demand, tempered by the company’s short standalone record and demanding execution requirements.
How much cash does GE Vernova really make?
Cash from operations rose from negative $1,660 million in 2021 to $4,987 million in 2025. After capital spending, free cash flow was $3,710 million. Deducting stock compensation gives an analytical “real” free cash flow figure, because compensation paid in shares dilutes owners even though it is not another cash payment.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Cash from operations | 4,987 | 2,583 | 1,186 | -114 | -1,660 |
| − Capital spending | 1,277 | 883 | 744 | 513 | 577 |
| = Free cash flow | 3,710 | 1,700 | 442 | -627 | -2,237 |
| − Stock pay | 257 | 189 | 118 | 123 | 139 |
| = Real free cash flow | 3,453 | 1,511 | 324 | -750 | -2,376 |
| Real free cash flow, % of revenue | 9.1% | 4.3% | 1.0% | -2.5% | -7.2% |
What does an investor pay for GE Vernova today?
| Today (Oct 12, 2026) | |
|---|---|
| Share price | 997.015 |
| Market value (calculated) | 265,539 |
| Enterprise value (calculated) | 255,314 |
| P/E, last 12 months (calculated) | 28.5x |
| Free cash flow yield (calculated) | 1.4% |
| Real free cash flow yield (calculated) | 1.3% |