GE Vernova (GEV +0.45%) stock declined by 15.7% in July, according to data from S&P Global Market Intelligence. A nuanced dynamicGE Vernova's recent earnings report saw management raise its full-year revenue, earnings, and free cash flow (FCF) guidance for the third time in 2026. In doing so, they pay a portion of cash upfront, which drops into GE Vernova's cash flow. That's good news because upfront cash flow has more value than cash flow later. As such, investors need to keep a close eye on order momentum in relation to valuation at GE Vernova.