GE Vernova Reports Oct. 28. Here's the 1 Number That Matters More Than Its Multibillion-Dollar Backlog (Hint: It's Measured in Gigawatts).

GE Vernova's $176 billion backlog is impressive, but investors should focus on gigawatts of gas power capacity, particularly HA-class heavy-duty gas turbines. These turbines generate $500 million in high-margin service revenue per GW over 20 years. The company expects 400 HA machines running or on contract by end of 2027, with guidance for 20-40 GW orders in the second half of 2026. Strong HA turbine orders could significantly boost the stock.