Core Viewpoint - GE Vernova, the energy division of General Electric, has seen its stock price more than double in the past year, significantly outperforming the S&P 500, which rose only 15% [1] Group 1: Business Segments - The Power business accounted for 55% of GE Vernova's orders in 2025, focusing on heavy-duty gas turbines, steam turbines, and maintenance services for nuclear plants [2] - The Electrification business, which includes transformers and electrical grid services, made up nearly one-third of the orders [3] - The Wind business, primarily selling onshore and offshore wind turbines, contributed the remaining orders [3] Group 2: Organic Orders Growth - The Power segment showed strong organic order growth, with year-over-year increases of 24%, 28%, 44%, 50%, and 77% from Q4 2024 to Q4 2025 [4] - The Electrification segment experienced fluctuations, with growth rates of 122%, (3%), (31%), 102%, and 50% over the same period [4] - The Wind segment faced challenges but recovered in the second half of the year, with growth rates of (41%), (43%), (5%), 4%, and 53% [4] Group 3: Market Drivers and Challenges - The growth in cloud, data center, and AI markets has driven utility companies to upgrade their power plants and grids, benefiting the Power and Electrification segments [5] - The Wind segment struggled with project delays and supply chain issues but stabilized in the latter half of the year [5] Group 4: Future Outlook - GE Vernova anticipates continued double-digit organic revenue growth for its Power and Electrification segments through 2028, with expanding adjusted EBITDA margins [6] - The company expects revenue to grow at a 14% CAGR from $38 billion to $56 billion between 2025 and 2028, with adjusted EBITDA margins increasing from 8% to 20% [7] - With an enterprise value of $201 billion, GE Vernova is considered reasonably valued at 35 times this year's adjusted EBITDA, making it an attractive option for investors looking to capitalize on the AI-driven energy boom [7]