Is GE Vernova Positioned to Dominate the Emerging SMR Market?

GE Vernova Inc. GEV is capitalizing on the rising demand for small modular reactors (“SMRs”) by positioning itself as a leading player in this emerging and competitive market. By providing advanced reactor designs like the BWRX-300, along with related services and fuel, the company is well-positioned to meet the increasing clean power needs of customers — including data centers and AI operators — strengthening its performance and creating new revenue streams.

Compared to conventional big reactors, SMRs' modular design enables factory prefabrication and quicker on-site assembly, greatly cutting down on construction delays. Additionally, by reducing upfront expenses, this modular strategy makes projects less risky and more attractive for financing. 

In May 2025, GE Vernova Hitachi Nuclear Energy (“GVH”) received approval from the Province of Ontario and Ontario Power Generation to move forward with deploying the first SMR in the Western world at the Darlington nuclear site in Ontario, Canada. This milestone represents a major advancement in nuclear innovation and underscores GVH’s leadership in bringing SMRs to commercial scale.

Global interest in the BWRX-300 continues to grow, with utilities and governments in the United States, Poland, Sweden, Estonia, Finland, and the United Kingdom either selecting or assessing the reactor for potential use. As a 10th-generation boiling water reactor that builds on decades of proven experience and uses a licensed fuel design, the BWRX-300 offers lower licensing risk and faster deployment timelines than entirely new reactor concepts.

Through its GVH alliance, the company is also strengthening supplier relationships and working with international regulators to standardize the design and simplify approval processes.

Companies Benefiting From Small Modular Reactors

SMRs can be built and added to the grid more quickly than large reactors, enabling faster revenue generation. Other companies benefiting from SMRs have been discussed below.

NuScale Power SMR: Leveraging proven technology and extensive investment, the NuScale Power Module is the only Nuclear Regulatory Commission-approved small modular reactor technology on the market that is commercially ready to deploy.

Constellation Energy CEG is advancing SMRs as a scalable, low-carbon solution to meet rising power demand by leveraging existing nuclear sites for faster, lower-risk deployment. CEG and Rolls-Royce agreed in 2020 to explore SMR deployment both in the United Kingdom and internationally, with CEG providing operational expertise.

GEV Stock’s Earnings Estimates

The Zacks Consensus Estimate for 2025 and 2026 EPS indicates an increase of 33.87% and 70.94%, respectively, year over year.

GEV Stock Trading at a Premium

GEV is trading at a premium relative to the industry, with a forward 12-month price-to-earnings of 46.33X compared with the industry average of 23.94X.

GEV Stock’s Price Performance

In the past six months, GEV’s shares have risen 28.5% compared with the industry’s 24.4% growth.

GEV’s Zacks Rank

The company currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
 

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This article originally published on Zacks Investment Research (zacks.com).

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