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GEV or ENPH: Which Stock Leads the Green Energy Future?
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Key Takeaways
GEV outperformed with a 244.6% stock surge, while ENPH fell 62.2% over the past year.
GEV holds zero debt and $8.11B cash; ENPH has $1.53B cash and $1.2B in total debt.
ENPH has a 14.29X forward P/E and higher ROE versus GEV's valuation of 58.68X and lower capital efficiency.
With the global economy accelerating rapidly toward decarbonization, electrification, and clean energy independence, energy technology companies like GE Vernova (GEV - Free Report) and Enphase Energy (ENPH - Free Report) have emerged as pivotal players in the green energy transition. Investor interest in these stocks is rising in tandem with structural tailwinds such as government-backed climate policies, rising energy demand, and increasing adoption of distributed generation and digital energy solutions.
GE Vernova is a pure-play energy company focused on decarbonizing power generation. With business segments in gas power, wind energy, and grid solutions, GEV is strategically positioned to lead efforts in grid modernization and renewable infrastructure across global markets. On the other hand, Enphase Energy is a leader in solar microinverter systems, energy storage, and residential energy management. ENPH’s innovation in distributed energy resources and its expanding global footprint in home solar installations make it a strong bet for the decentralized clean energy future.
While their core business models differ, both GEV and ENPH are well-positioned to benefit from global energy reforms. As clean energy adoption continues to surge, comparing GEV with ENPH will offer investors a clearer picture of where long-term value may lie in this rapidly evolving sector.
Financial Stability & Future Growth Drivers: GEV vs ENPH
GE Vernova’s cash and cash equivalents as of March 31, 2025, totaled $8.11 billion, while both the current and long-term debt values were nil. A comparative analysis of these figures reflects that GE Vernova boasts a strong solvency position, which, in turn, should enable the company to duly meet its commitment to invest $5 billion in research and development (R&D) through 2028.
Notably, the company aims to utilize half of this R&D investment in industrializing its existing products and maintaining its installed base. The other half is intended for long-term innovation to deliver next-generation differentiated products.
On the other hand, Enphase Energy had cash and cash equivalents (including marketable securities) of 1.53 billion as of March 31, 2025. As of the same date, the company’s long-term debt totaled $0.57 billion, while its current debt was $0.63 billion. A comparative analysis of these figures implies that Enphase also boasts a solid solvency position, which in turn, should enable it to invest in product innovation, like new microinverter variants and batteries, along with supply-chain diversification to mitigate risks and seize new market opportunities.
In terms of growth drivers, GEV is gaining traction through strategic collaborations and international contract wins. In June 2025, it secured an order from Puerto Rico to supply six LM2500XPRESS aeroderivative gas turbines, expected to deliver up to 244 megawatts (MW) of energy.
In July, GE Vernova Hitachi Nuclear Energy (GVH) — a joint venture of GEV with Hitachi — signed an agreement with Fortum to explore deployment of its BWRX-300 small modular reactors in Finland and Sweden. More recently, GEV landed a contract with Germany’s TransnetBW to modernize the Kühmoos grid node, a key substation critical for cross-border electricity flows and grid stability in southern Germany.
On the contrary, Enphase Energy thrives on its global market expansion approach through innovative product launches and subsequent customer base enhancement. Evidently, in mid-June 2025, ENPH unveiled its most powerful and versatile battery yet, the IQ Battery 5P with FlexPhase, across major European nations like Spain, Portugal, France, Sweden, Denmark, Belgium and the Netherlands.
In July, the company started shipments of its newest electric vehicle (EV) charger, the IQ EV Charger 2, in Australia and New Zealand. More recently, Enphase has also rolled out this EV Charger in new European markets of Greece, Romania, Ireland and Poland.
Risks of Investing in GEV vs ENPH
Just as their growth drivers differ, GEV and ENPH face distinct risks.
GE Vernova, despite having long-term prospects in clean energy, is grappling with major headwinds in its offshore wind segment. Rising material costs, persistent supply-chain disruptions, and regulatory delays have hampered project execution and escalated costs. As a result, GEV’s offshore wind revenues fell 53.7% year over year in first-quarter 2025, primarily due to slower production. With large-scale investments continuing in next-gen technologies, this segment may remain volatile and could pressure future margins if revenue recovery lags.
In contrast, Enphase Energy is exposed to risks tied to the global electronics supply chain. Shortages of semiconductors, integrated circuits, and other key components have impacted its production capabilities, leading to increased costs, extended lead times, and potential delays in fulfilling orders. Further complicating the outlook is the ongoing U.S.-China trade tension, which continues to distort semiconductor supply chains. As China is a major hub for chip manufacturing, geopolitical risks could further disrupt Enphase’s operations and revenue stream.
However, on one count, both companies face a shared risk — the recently imposed U.S. import tariffs targeting several key trading partners. Since both GEV and ENPH source components globally, these tariffs may raise input costs, potentially squeezing profit margins.
How Do Zacks Estimates Compare for GEV & ENPH?
The Zacks Consensus Estimate for GE Vernova’s 2025 sales and earnings per share (EPS) implies an improvement of 6.7% and 32.3%, respectively, from the year-ago quarter’s reported figures. The stock’s near-term EPS estimates have also been trending upward over the past 60 days.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Enphase Energy’s 2025 sales implies a year-over-year improvement of 8.9%, while that for earnings suggests a rise of 3.8%. The stock’s bottom-line estimates for 2025 have moved north over the past 60 days, while that for 2026 have moved south.
Image Source: Zacks Investment Research
Stock Price Performance: GEV vs ENPH
GEV (up 76.2%) has outperformed ENPH (down 25.9%) over the past three months and has done the same in the past year. Shares of GEV have surged 244.6%, while those for ENPH have lost 62.2% over the past year.
Image Source: Zacks Investment Research
Valuation of ENPH More Attractive Than That of GEV
ENPH is trading at a forward earnings multiple of 14.29X, much below GE Vernova’s forward earnings multiple of 58.68X.
Image Source: Zacks Investment Research
ENPH’s ROE Better Than GEV
A comparative analysis of both these stocks’ Return on Equity (ROE) suggests that ENPH is more efficient at generating profits from its equity base compared to GEV.
Image Source: Zacks Investment Research
GEV or ENPH: Which Is a Better Player?
Both companies offer compelling exposure to the clean energy transition, yet their investment appeal diverges across key metrics.
GE Vernova has delivered exceptional recent price performance and stronger earnings estimate revisions, reflecting market optimism driven by strategic contract wins and its robust financial position. However, its high valuation and offshore wind challenges may limit near-term efficiency. Enphase, by contrast, boasts a far more attractive valuation and a superior return on equity, signaling better capital efficiency. While its stock has lagged, estimate trends suggest modest recovery potential.
Thus, investors seeking growth momentum may lean toward GEV, while value-focused investors might find greater long-term opportunity in ENPH.
Image: Bigstock
GEV or ENPH: Which Stock Leads the Green Energy Future?
Key Takeaways
With the global economy accelerating rapidly toward decarbonization, electrification, and clean energy independence, energy technology companies like GE Vernova (GEV - Free Report) and Enphase Energy (ENPH - Free Report) have emerged as pivotal players in the green energy transition. Investor interest in these stocks is rising in tandem with structural tailwinds such as government-backed climate policies, rising energy demand, and increasing adoption of distributed generation and digital energy solutions.
GE Vernova is a pure-play energy company focused on decarbonizing power generation. With business segments in gas power, wind energy, and grid solutions, GEV is strategically positioned to lead efforts in grid modernization and renewable infrastructure across global markets. On the other hand, Enphase Energy is a leader in solar microinverter systems, energy storage, and residential energy management. ENPH’s innovation in distributed energy resources and its expanding global footprint in home solar installations make it a strong bet for the decentralized clean energy future.
While their core business models differ, both GEV and ENPH are well-positioned to benefit from global energy reforms. As clean energy adoption continues to surge, comparing GEV with ENPH will offer investors a clearer picture of where long-term value may lie in this rapidly evolving sector.
Financial Stability & Future Growth Drivers: GEV vs ENPH
GE Vernova’s cash and cash equivalents as of March 31, 2025, totaled $8.11 billion, while both the current and long-term debt values were nil. A comparative analysis of these figures reflects that GE Vernova boasts a strong solvency position, which, in turn, should enable the company to duly meet its commitment to invest $5 billion in research and development (R&D) through 2028.
Notably, the company aims to utilize half of this R&D investment in industrializing its existing products and maintaining its installed base. The other half is intended for long-term innovation to deliver next-generation differentiated products.
On the other hand, Enphase Energy had cash and cash equivalents (including marketable securities) of 1.53 billion as of March 31, 2025. As of the same date, the company’s long-term debt totaled $0.57 billion, while its current debt was $0.63 billion. A comparative analysis of these figures implies that Enphase also boasts a solid solvency position, which in turn, should enable it to invest in product innovation, like new microinverter variants and batteries, along with supply-chain diversification to mitigate risks and seize new market opportunities.
In terms of growth drivers, GEV is gaining traction through strategic collaborations and international contract wins. In June 2025, it secured an order from Puerto Rico to supply six LM2500XPRESS aeroderivative gas turbines, expected to deliver up to 244 megawatts (MW) of energy.
In July, GE Vernova Hitachi Nuclear Energy (GVH) — a joint venture of GEV with Hitachi — signed an agreement with Fortum to explore deployment of its BWRX-300 small modular reactors in Finland and Sweden. More recently, GEV landed a contract with Germany’s TransnetBW to modernize the Kühmoos grid node, a key substation critical for cross-border electricity flows and grid stability in southern Germany.
On the contrary, Enphase Energy thrives on its global market expansion approach through innovative product launches and subsequent customer base enhancement. Evidently, in mid-June 2025, ENPH unveiled its most powerful and versatile battery yet, the IQ Battery 5P with FlexPhase, across major European nations like Spain, Portugal, France, Sweden, Denmark, Belgium and the Netherlands.
In July, the company started shipments of its newest electric vehicle (EV) charger, the IQ EV Charger 2, in Australia and New Zealand. More recently, Enphase has also rolled out this EV Charger in new European markets of Greece, Romania, Ireland and Poland.
Risks of Investing in GEV vs ENPH
Just as their growth drivers differ, GEV and ENPH face distinct risks.
GE Vernova, despite having long-term prospects in clean energy, is grappling with major headwinds in its offshore wind segment. Rising material costs, persistent supply-chain disruptions, and regulatory delays have hampered project execution and escalated costs. As a result, GEV’s offshore wind revenues fell 53.7% year over year in first-quarter 2025, primarily due to slower production. With large-scale investments continuing in next-gen technologies, this segment may remain volatile and could pressure future margins if revenue recovery lags.
In contrast, Enphase Energy is exposed to risks tied to the global electronics supply chain. Shortages of semiconductors, integrated circuits, and other key components have impacted its production capabilities, leading to increased costs, extended lead times, and potential delays in fulfilling orders. Further complicating the outlook is the ongoing U.S.-China trade tension, which continues to distort semiconductor supply chains. As China is a major hub for chip manufacturing, geopolitical risks could further disrupt Enphase’s operations and revenue stream.
However, on one count, both companies face a shared risk — the recently imposed U.S. import tariffs targeting several key trading partners. Since both GEV and ENPH source components globally, these tariffs may raise input costs, potentially squeezing profit margins.
How Do Zacks Estimates Compare for GEV & ENPH?
The Zacks Consensus Estimate for GE Vernova’s 2025 sales and earnings per share (EPS) implies an improvement of 6.7% and 32.3%, respectively, from the year-ago quarter’s reported figures. The stock’s near-term EPS estimates have also been trending upward over the past 60 days.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Enphase Energy’s 2025 sales implies a year-over-year improvement of 8.9%, while that for earnings suggests a rise of 3.8%. The stock’s bottom-line estimates for 2025 have moved north over the past 60 days, while that for 2026 have moved south.
Image Source: Zacks Investment Research
Stock Price Performance: GEV vs ENPH
GEV (up 76.2%) has outperformed ENPH (down 25.9%) over the past three months and has done the same in the past year. Shares of GEV have surged 244.6%, while those for ENPH have lost 62.2% over the past year.
Image Source: Zacks Investment Research
Valuation of ENPH More Attractive Than That of GEV
ENPH is trading at a forward earnings multiple of 14.29X, much below GE Vernova’s forward earnings multiple of 58.68X.
Image Source: Zacks Investment Research
ENPH’s ROE Better Than GEV
A comparative analysis of both these stocks’ Return on Equity (ROE) suggests that ENPH is more efficient at generating profits from its equity base compared to GEV.
Image Source: Zacks Investment Research
GEV or ENPH: Which Is a Better Player?
Both companies offer compelling exposure to the clean energy transition, yet their investment appeal diverges across key metrics.
GE Vernova has delivered exceptional recent price performance and stronger earnings estimate revisions, reflecting market optimism driven by strategic contract wins and its robust financial position. However, its high valuation and offshore wind challenges may limit near-term efficiency. Enphase, by contrast, boasts a far more attractive valuation and a superior return on equity, signaling better capital efficiency. While its stock has lagged, estimate trends suggest modest recovery potential.
Thus, investors seeking growth momentum may lean toward GEV, while value-focused investors might find greater long-term opportunity in ENPH.
Both GEV and ENPH stocks carry a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.