GEV vs CEG: GE Vernova vs Constellation Energy Stock Comparison: AI Score, Valuation, Performance and Upside
GE Vernova is the equipment and services play on AI-driven power demand — it builds the gas turbines and grid infrastructure powering new data centers. Constellation Energy is the generation play — it owns the nuclear plants providing 24/7 carbon-free electricity data centers need. GE Vernova benefits from capex orders; Constellation benefits from higher power prices and long-term PPAs.
Use this GEV vs CEG comparison to evaluate two ways to invest in the AI data center power supercycle. GE Vernova profits from building the power infrastructure; Constellation profits from generating the electricity. Both benefit from surging demand, but through different business models.
CEG holds the edge across 4 of 5 key metrics in this comparison. GEV has delivered stronger 1-year price return (+53.68% vs -20.26%), though CEG has the better forward P/E setup (19.64x vs 39.80x for GEV). CEG leads on both revenue growth (63.80%) and operating margin (21.86%), suggesting a stronger fundamental setup on both dimensions. Analyst consensus implies meaningfully more upside for CEG (+34.30%) than for GEV (+24.35%).
- Want exposure to the equipment and services side of the AI data center power buildout
- Believe gas turbine demand will remain strong as utilities build new dispatchable generation capacity
- Value the high-margin services backlog from GE Vernova's massive installed base of power equipment
- Want grid modernization exposure alongside traditional power generation equipment
- Prefer direct exposure to power generation and nuclear energy as the premium clean baseload source
- Value long-term power purchase agreements with hyperscalers as providing revenue visibility and pricing power
- Believe nuclear energy will command an increasing premium as the only scalable 24/7 zero-carbon power source
- Want utility-like stability combined with AI data center demand growth at premium power prices
| Metric | GEV | CEG |
|---|---|---|
| AI score | 51.7 | 51.9 |
| AI rank | #381 | #371 |
| Latest close | $990.32 | $269.89 |
| 1M return | -7.53% | +10.38% |
| 6M return | +34.43% | +9.24% |
| 1Y return | +53.68% | -20.26% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | GEV | CEG |
|---|---|---|
| 1Y ago | $15.4K (+54.0%) started 2025-08-07 | $8.02K (-19.8%) started 2025-08-07 |
| 5Y ago | $76.09K (+660.9%) started 2024-03-27 | $68.44K (+584.4%) started 2022-01-19 |
| 10Y ago | $76.09K (+660.9%) started 2024-03-27 | $68.44K (+584.4%) started 2022-01-19 |
Hypothetical — past performance does not guarantee future results.
| Metric | GEV | CEG |
|---|---|---|
| Market cap | $263.76B | $93.83B |
| Trailing P/E | 28.66 | 22.83 |
| Forward P/E | 39.80 | 19.64 |
| Price/Sales | 6.38 | 3.87 |
| EV/Revenue | 6.19 | 3.91 |
| Analyst target | $1,231.48 | $352.86 |
| Target upside | +24.35% | +34.30% |
| Metric | GEV | CEG |
|---|---|---|
| Revenue growth | 21.90% | 63.80% |
| Earnings growth | 32.80% | 1091.00% |
| EPS growth | +32.80% | +1091.00% |
| FCF margin | +38.01% | -15.00% |
| Operating margin | 7.47% | 21.86% |
| Profit margin | 23.04% | 12.69% |
| ROIC proxy | 82.58% | 16.10% |
| Return on equity | 82.58% | 16.10% |
| Dividend yield | 0.20% | 0.65% |
| Beta | 1.03 | 1.12 |
| Debt/equity | 28.36 | 66.43 |
| Current ratio | 0.85 | 1.36 |
| Quick ratio | 0.56 | 0.48 |
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | GEV | CEG |
|---|---|---|---|
| 1Y | Growth | +53.68% | -19.77% |
| CAGR | +53.73% | -19.80% | |
| Sharpe ratio | 1.00 | -0.33 | |
| Max drawdown | 24.57% | 41.45% | |
| Max daily drop | 10.50% | 10.90% | |
| Max wkly drop | 15.05% | 15.28% | |
| 5Y | Growth | +657.72% | +563.04% |
| CAGR | +135.63% | +51.57% | |
| Sharpe ratio | 1.80 | 1.00 | |
| Max drawdown | 38.29% | 50.70% | |
| Max daily drop | 21.52% | 20.85% | |
| Max wkly drop | 17.79% | 19.29% | |
| 10Y | Growth | +657.72% | +563.04% |
| CAGR | +135.63% | +51.57% | |
| Sharpe ratio | 1.80 | 1.00 | |
| Max drawdown | 38.29% | 50.70% | |
| Max daily drop | 21.52% | 20.85% | |
| Max wkly drop | 17.79% | 19.29% |
| Category | GEV | CEG |
|---|---|---|
| Company | GE Vernova Inc. | Constellation Energy Corporation |
| Sector | Industrials | Utilities |
| Industry | N/A | Utilities - Renewable |
| Core business | Global energy equipment and services company spun off from GE, providing gas turbines, wind turbines, grid solutions, and power plant services. Powers roughly 25% of the world's electricity. | Operator of the largest US nuclear fleet with 21 reactors, retail and wholesale electricity businesses, and long-term power purchase agreements with hyperscalers and data center operators. |
| Investor focus | Gas turbine order growth driven by AI data center power demand, grid modernization revenue, wind turbine margin recovery, and services backlog expansion. | Nuclear fleet utilization, AI data center power agreements (Microsoft, others), clean energy premium pricing, and the Calpine acquisition expansion. |
- Dominant gas turbine franchise (HA turbines) is the primary beneficiary of new natural gas power plant builds for AI data centers
- Massive installed base of power equipment creates a durable, high-margin services and parts revenue stream
- Grid solutions business benefits from the multi-decade grid modernization cycle required for electrification and renewable integration
- Largest nuclear power operator in the US with the lowest-carbon large-scale baseload fleet
- High-value long-term power purchase agreements with hyperscalers who need 24/7 carbon-free electricity
- Nuclear energy increasingly valued as the only scalable, always-on, zero-carbon power source for data centers
- Onshore wind business has historically generated losses — margin recovery timeline remains uncertain
- Gas turbine demand is cyclical and tied to utility capex decisions that can shift with policy or regulation
- Post-spinoff execution as an independent company — building standalone infrastructure and culture
- Nuclear plant maintenance, safety, and regulatory risk are inherent to nuclear operations
- Power purchase agreement pricing tied to clean energy policy and regulation
- Calpine acquisition integration execution and leverage management
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