Jim Cramer: I like GE Vernova very much, they should split it

Group 1 - GE Vernova's high share price and the bundling of a money-losing Wind business with high-growth Power and Electrification segments create a valuation discount that could be resolved through a stock split and potential separation [1] - GE Vernova operates three segments: Power, Electrification, and Wind, with the Power and Electrification segments showing strong performance [1] - The Power segment booked 41 heavy-duty gas turbines in Q4 2025, with equipment backlog growing from 62 to 83 gigawatts sequentially [1] - Electrification revenue grew 36% year-over-year in Q4, with expectations to increase from $5 billion in 2022 to $13.5 billion to $14 billion by 2026 [1] - Total backlog for GE Vernova hit a record $150 billion at year-end 2025, indicating a multi-year revenue runway already locked in [1] Group 2 - Wind segment revenue fell 24% year-over-year in Q4 2025, with expected EBITDA losses of approximately $400 million in 2026 [1] - The challenges faced by the Wind segment include offshore contract losses, tariff headwinds, and regulatory issues [1] - Separating the Wind business from the higher-margin Power and Electrification segments could allow each unit to trade on its own fundamentals, addressing the valuation discount [1] Group 3 - GE Vernova guided for $44 to $45 billion in revenue and $5.0 to $5.5 billion in free cash flow for 2026, targeting $56 billion in revenue and 20% adjusted EBITDA margins by 2028 [1] - The share repurchase authorization was raised to $10 billion, and the quarterly dividend was doubled to $0.50 per share [1]