GE Vernova Stock Fell 11% in a Day. Here's What I Think It Could Be Worth by 2030.
Key PointsGE Vernova's backlog hit $176 billion in the second quarter of 2026.
GE Vernova (GEV) stock experienced a 11% decline on October 22, 2025, bringing its price to around $825, down from $1,174.86 in June. The company's backlog has increased from $150 billion at the end of 2025 to $176 billion by the end of the second quarter. Management expects backlog to reach $200 billion by the end of 2028. Gas equipment orders in the first half of 2026 were priced over 20% higher than those booked in the last three months of 2025.
CEO Scott Strazik said the company was on track to reach $200 billion backlog by 2027, a year earlier than expected. Management is targeting $56 billion in revenue and a 20% adjusted EBITDA margin by 2028. If the company achieves this target, its adjusted EBITDA would be around $13.6 billion in 2030, resulting in a potential stock value of $263 billion at current multiples.
The stock trades at a premium, with a price-to-adjusted EBITDA ratio of about 19 times. However, buybacks and dividend payouts could push the stock price to around $1,100 by late 2030, representing a modest annual return of approximately 7%.
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