GE HealthCare Technologies Inc.

X-Ray Apparatus & Tubes & Related Irradiation Apparatus

GEHCMixed10 of 11 basics passed

$65.74

+2.37%

Market cap $29.7B

$65.74

+2.37%

Market cap $29.7B

GE HealthCare Technologies is a leading medical technology firm with leading market share in imaging and ultrasound equipment. The company reports four major segments: imaging (45% of revenue), advanced visualization solutions (26%), patient care solutions (15%), and pharmaceutical diagnostics (14%).

It is a $29.7B healthcare company. Revenue grew 6.5% over the last year, and it keeps 9¢ of every dollar of sales as profit. It trades at 15.0× earnings — in the cheapest third of its own history.

Website: gehealthcare.com
Location: Chicago, IL
Employees: 54 000
Sector: Healthcare
Founded: 1920

Share price · 3 years

$68.19 → $65.74-3.6%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $21.3B
Profit: keeps 9¢ of every $1 sold; $1.99B
Free cash flow: cash left after running the business; $1.58B
P/E: years of profit in the price; 15.0
EPS: earnings per share, TTM; $4.33
Dividend: pays out 3% of profit · 4% of FCF; 0.22%
Shares: shares outstanding; 458.0M
Volatility: beta vs the market — under 1 swings less; 0.85

Revenue, last 5 years

52-week range

Low $59.48$65.74High $88.16

Today's price is 22% of the way from the year's low to its high.

P/E vs its history4y

15.0×median 22.8×

Higher than 13% of past days — in the cheapest third of its own history.

Valuation vs own history

P/E

15.0×

87%

P/S

1.4×

93%

EV/EBITDA

13.4×

62%

P/B

2.6×

95%

FCF yield

5.3%

94%

Share of the last ~5 years that was pricier than today (unusually cheap vs its own history). Based on the daily valuation record.

Standing in Healthcare

Size$29.7Btop 46%
Revenue growth+4%top 68%
Net margin9%top 47%
Return on equity19%top 36%
P/E15.0×top 15%
Dividend yield0.22%top 93%

Ranked against 98 Healthcare companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong valuation; Growth and Health lag behind.

Valuation90

P/E vs own history13th pct · 25/25
FCF yield5.3% · 20/25
P/S1.4x · 25/25
EV/EBITDA12.4x · 20/25

Growth26

Revenue CAGR4.1% · 6/25
Net income CAGR-1.9% · 0/25
EPS CAGR ~5Y-2.1% · 0/25
Fwd implied growth19.2% · 20/25

Profitability57

ROIC10.2% · 12/25
ROE18.9% · 20/25
Net margin9.3% · 13/25
Operating margin12.9% · 12/25

Health37

Altman Zn/a · 0/25
Current ratio1.26 · 12/25
Interest coverage10.3x · 25/25
Net cash / debtn/a · 0/25

Quality70

Piotroski F4/9 · 10/25
Beneish M-2.23 · 20/25
FCF conversion80% · 15/25
Margin stabilityσ 1.2% · 25/25

Moat56

ROIC >12% years1/5 yrs · 0/25
Median gross margin40.5% · 13/25
FCF-positive years5/5 yrs · 25/25
Worst-year net marginworst 8.0% · 18/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

2025Acquisition
The company entered an agreement to acquire Intelerad Medical Systems for $2.3 billion
2025Product
GE HealthCare introduced the Freelium sealed magnet platform for magnetic resonance imaging (MRI)
Jan 4, 2023Milestone
The spin-off of GE HealthCare was completed on January 4, 2023
FY2021Financial
Profitable every year on record
5 consecutive profitable years in our data
FY2021Financial
Revenue already above $10B
$17.6B in first reported year
FY2021Financial
Positive free cash flow every year since
5-year streak
FY2021Financial
Best year on record
$2.25B net income
2009Milestone
It changed its name to GE HealthCare Japan Corporation in 2009
2006Acquisition
The company acquired IDX Systems Corporation for $1.2 billion
2003Acquisition
GE HealthCare acquired Instrumentarium, including its Datex-Ohmeda division, a producer, manufacturer
2002Acquisition
GE HealthCare acquired Visualization Technology, a manufacturer of intra-operative medical devices…
Jul 28, 1926Acquisition
The merger of the Victor subsidiary and General Electric closed on July 28, 1926 and the company became "General…
1920Founded
GE HealthCare entered the imaging technology business with the acquisition of Victor Electric Company,…
1920Acquisition
Victor was acquired by General Electric and was renamed VICTOR X-RAY CORPORATION

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2023 would be worth ~$10 868 today — price return only

$20.6B revenue in FY2025

Revenue up 6.5% year over year

Profitable 5 years in a row

Positive free cash flow 5 years in a row

54 000 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

Interest covered 10.3× by operating earnings

Watch-outs

Nothing stands out as a concern in the available data.

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

10 of 11 checks passed

Revenue growing — the company sells more than a year ago+6.5% YoY
Profitable — makes more than it spends$1.99B TTM
Profit growing — earnings are higher than last year+2.5% YoY
Generates cash — cash left after running and investing$1.58B TTM
Debt under control — could handle its obligationscurrent ratio 1.26
Established company — not a micro-cap — lower blow-up risk$29.7B market cap
Not printing shares — share count not ballooning — you keep your slice+0.9% shares over ~5y
Proven track record — years of profitability behind it5/5 profitable years
Financially stable — balance sheet not near distresshealth score 37/100
Pays a dividend — returns cash to shareholdersyield 0.22%
Valuation not extreme — price not wildly above earningsP/E 15.0

Peer comparisonGE HealthCare Technologies Inc. vs 6 largest healthcare peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
GEHC this company	$29.7B	15.0	+6.5%	9.3%	Mixed
LLY Eli Lilly & Co.	$1.0T	41.6	+49.6%	33.5%	Solid
JNJ Johnson & Johnson	$630.9B	29.9	+8.1%	21.5%	Mixed
ABBV Abbvie Inc.	$488.5B	77.4	+10.4%	9.8%	Mixed
MRK Merck & Co., Inc.	$361.0B	113.2	+4.6%	4.8%	Mixed
UNH UNITEDHEALTH GROUP INCORPORATED (Delaware)	$340.7B	24.1	+6.5%	3.1%	Mixed
NVS Novartis AG	$273.2B	20.3	+9.6%	24.7%	Solid

Head-to-head: GEHC vs LLY · GEHC vs JNJ · GEHC vs ABBV

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 8Buy 11Hold 9

Appendix · Financial records

The full statements behind this CV, FY2021–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $21.3B · net income $1.99B (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$21.3B

YoY 6.5%

Net income (TTM)

$1.99B

Margin 9.3%

Gross margin

39.5%

Operating margin

12.9%

P/E ratio

15.0

Dividend yield

0.22%

Income statement — full detail

Figures in USD billions · EPS in USD

	2021	2022	2023	2024	2025
Revenue	17.6	18.3	19.6	19.7	20.6
Gross profit	7.2	7.2	7.9	8.2	8.2
Operating income (EBIT)	2.8	2.5	2.4	2.6	2.8
Net income	2.2	1.9	1.6	2.0	2.1
EPS (diluted)	4.95	4.22	3.42	4.34	4.55

Cash flowFree cash flow $1.58B · operating cash flow $2.10B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$1.58B

Margin 7.4%

Operating cash flow (TTM)

$2.10B

FCF margin

7.4%

Cash flow statement — full detail

Figures in USD billions

	2021	2022	2023	2024	2025
Operating cash flow	1.6	2.1	2.1	2.0	2.0
Capital expenditure	-0.2	-0.3	-0.4	-0.4	-0.5
Free cash flow	1.4	1.8	1.7	1.6	1.5
FCF margin	7.7%	9.8%	8.8%	7.9%	7.3%

Balance sheetAssets $36.9B · debt n/a (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $36.9B of assets is financed

72%

28%

Liabilities $26.3B — borrowed moneyEquity $10.4B — owners' stake

Cash vs debt

Total debt $10.0B − cash — = net debt —

Cash on hand covers 0% of debt.

Debt repayment

0.0 yrs

Years of free cash flow to clear net debt

Interest coverage

10.3x

EBIT ÷ interest expense

ROE

18.9%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2021	2022	2023	2024	2025
Cash & equivalents	0.6	1.4	—	—	—
Total assets	26.3	27.5	32.5	33.1	36.9
Total liabilities	9.4	17.9	25.1	24.4	26.3
Total debt	0.4	8.6	9.4	9.0	10.0
Equity	16.9	9.6	7.1	8.4	10.4
Net debt	-0.1	7.2	—	—	—

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of GEHC on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $65.74 · market cap $29.7B.