GE Vernova Inc. (GEV): A Bull Case Theory 

We came across a bullish thesis on GE Vernova Inc. on The Edge Of Power’s Substack. In this article, we will summarize the bulls’ thesis on GEV. GE Vernova Inc.’s share was trading at $717.39 as of January 29th. GEV’s trailing and forward P/E were 40.23 and 56.50 respectively according to Yahoo Finance.

In April 2024, General Electric executed a long-planned split into three public companies, with GE Aerospace taking jet engines, GE HealthCare spun off earlier, and GE Vernova encompassing all power generation and transmission businesses. GE Vernova Inc., an energy company, engages in the provision of various products and services that generate, transfer, orchestrate, convert, and store electricity in the United States and internationally.

Since the spin-off, GE Vernova has delivered remarkable returns, with its stock surging nearly 400% to $671 by December 2025, valuing the company at approximately $180 billion. GE Vernova combines three distinct segments under one roof, each with unique growth and profitability profiles, creating a dynamic yet complex investment narrative.

The Power segment is the company’s cash engine, generating $4.8 billion in Q3 2025 revenue, up 15% year-over-year, and $645 million in EBITDA, with margins expanding to 13.3%. Gas turbines dominate this segment, with each unit capable of powering a city of 500,000, while services—maintenance, upgrades, and parts—account for $3.1 billion of revenue, providing highly predictable cash flow. By contrast, the Wind segment faces ongoing challenges, posting $2.6 billion in revenue but a $61 million loss in Q3 2025. Offshore wind continues to run over budget, while onshore turbines see muted demand amid policy uncertainty, though losses are improving versus prior years.

Electrification is the standout growth story, with Q3 revenue of $2.6 billion, up 35% year-over-year, and EBITDA nearly doubling to $393 million. The segment supplies transformers, high-voltage systems, grid software, and battery storage, supporting the urgent need to modernize grids for renewable integration, AI data centers, and general electrification.

Backlog has quadrupled to roughly $30 billion since 2022, highlighting immense demand. Overall, GE Vernova combines a reliable cash-generating Power segment, a rapidly scaling Electrification business, and a struggling Wind division, creating a complex but compelling investment opportunity with both near-term stability and long-term growth potential.

Previously we covered a bullish thesis on Quanta Services, Inc. (PWR) by Bulls On Parade in May 2025, which highlighted the company’s leadership in electric power infrastructure, AI-driven data center opportunities, and strategic acquisitions driving long-term growth. The company’s stock price has appreciated approximately by 65.34% since our coverage. The Edge Of Power shares a similar perspective but emphasizes GE Vernova’s segmented approach, with cash-generating Power and fast-growing Electrification driving value.

GE Vernova Inc. is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 108 hedge fund portfolios held GEV at the end of the third quarter which was 106 in the previous quarter. While we acknowledge the risk and potential of GEV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GEV and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy NOW 

Disclosure: None.