D

GE Vernova Inc. — Earnings Quality Grade D

GEV · Industrials

Significant concerns

Revenue
$38.1B
2025
Net Income
$4.9B
2025
Gross Margin
19.8%
Free Cash Flow
$3.7B
01

Screening Summary

12
Passed
3
Watch
2
Failed
-2.25
M-Score
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

DSO 75 days, change +9 days YoY

A2AR vs Revenue Growth

AR outpaced revenue for 2 consecutive years

A3Revenue vs CFFO

Revenue 9.0%, CFFO 93.1%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

Inventory growth 23.4% far exceeds COGS 5.8%, margin rising. Fraud signal

!
B2CapEx vs Revenue

CapEx growth 44.6% is >2x revenue growth 9.0%

B3SG&A Ratio

SG&A/Gross Profit = 65.7%. Normal

B4Gross Margin

Gross margin 19.8%, change +2.4pp. Stable

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = 1.02. Profits backed by cash

C2Free Cash Flow

FCF $3.7B, FCF/NI = 0.76

C3Accruals Ratio

Accruals ratio = -0.2%. Low accruals

C4Cash vs Debt

Cash $9.3B covers debt $1.2B

04

Balance Sheet Health

!
D1Goodwill + Intangibles

Goodwill+Intangibles $5.2B = 46% of equity

D2Leverage

Debt/EBITDA = 0.5x. Healthy

!
D3Soft Asset Growth

Other assets grew 36.0% vs revenue 9.0%

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change 2% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

M-Score = -2.25 (< -2.22). Unlikely manipulator

04

Beneish M-Score

Manipulation Probability-2.25
-4.0 Clean-2.22 Grey-1.78 Danger0
1.144
DSRI
AR growing faster than revenue?
0.88
GMI
Gross margin declining?
1.126
AQI
Asset quality deteriorating?
1.09
SGI
Revenue growth rate
1.491
DEPI
Depreciation slowing?
0.981
SGAI
SG&A ratio changing?
-0.0016
TATA
Accruals level
1.055
LVGI
Leverage increasing?
05

Altman Z-Score

0.62
Distress Zone
0 Distress1.102.605.0+ Safe
-0.012
Liquidity
0.0977
Cumulative profit
0.022
Operating efficiency
0.2204
Leverage

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-09

GE Vernova Inc. (GEV) 财报排雷评级 D — EarningsGrade