GEV
GE Vernova Inc.
$922.00
Stable Earnings Power
40%
P/Adj-EPS × Normalized Multiple
Strong
·
Conviction
Overvalued
Trading 247.5% above fair value
You pay
$922.00
Bear
$212.28
Fair
$265.35
Bull
$318.42
Bear
$212.28
-77.0%
$17.69 × 12x P/E
Fair
$265.35
-71.2%
$17.69 × 15x P/E
Bull
$318.42
-65.5%
$17.69 × 18x P/E
Adjust Assumptions
15.0x
17.69$
Key Value Driver
Normalized P/E multiple (15x base case)
Implied Market Multiple
52.1x
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (29 analysts)
$1270.21
Divergence from AlphaVal
79%
Summary
Applying a 15x P/E to adjusted EPS of $17.69, the base-case value is $265.35 per share.
Warnings
Wall Street's average price target is $1270.21 (from 29 analysts). Our estimate is 79% below the consensus -- consider that gap carefully.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples