GE Vernova (GEV +5.49%), the former energy division of General Electric (GE +1.28%) that was spun off as a stand-alone company in 2024, has risen more than eightfold since its market debut. Let's see why it skyrocketed -- and if it can maintain that momentum over the next decade.
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Why is GE Vernova stock soaring?
GE Vernova splits its business into three segments: Power (55% of its 2025 orders), Electrification (33%), and Wind (13%). Its Power segment provides gas turbines for combined-cycle plants, steam turbines for coal, gas, and nuclear plants, and services for nuclear power plants. Its Electrifification segment sells transformers, breakers, substations, high-voltage direct current systems, and automation, optimization, and protection services for electrical grids. The Wind segment mainly sells onshore and offshore wind turbines.
In 2025, its Power and Electrification orders rose 51% and 23%, respectively, driven by the rapid expansion of the power-hungry cloud, data center, and AI markets. That acceleration offset the slower growth of its Wind segment, which struggled with supply chain issues and delays. That's why its total orders increased 34% organically in 2025, compared with 7% growth in 2024.
NYSE: GEV
Key Data Points
From 2025 to 2028, analysts expect its revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to grow at CAGRs of 15% and 55%, respectively. With an enterprise value of $236 billion, it isn't cheap at 41 times this year's adjusted EBITDA, but the soaring global demand for energy could support that valuation.
Where could GE Vernova's stock be in ten years?
Over the next decade, the growth of the cloud, data center, AI, electric vehicle (EV), and industrial markets could generate strong tailwinds for diversified energy companies like GE Vernova. According to the International Energy Agency (IEA), global electricity consumption could rise by up to 40% by 2035. Fossil fuels and nuclear power should support that growth, along with renewable energy sources such as solar, wind, and hydro.
GE Vernova has its fingers in all those growing markets, and its scale and diversification will continue to make it an attractive energy play for long-term investors. Assuming it matches analysts' estimates through 2028, continues growing its adjusted EBITDA at a 20% CAGR through 2036, and trades at a more moderate 25 times its current-year adjusted EBITDA, its stock could rise fivefold over the next decade. If it grows faster or commands a higher valuation, its stock could deliver even bigger multibagger gains.
