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Friday 6 November 2026
Export GEHC’s income statement to Excel — free account
GE HealthCare Technologies Inc.
GEHC Healthcare Medical Devices
GE HealthCare Technologies Inc.’s revenue for fiscal 2025 (year ended December 2025) was $20.6 billion, up 4.84% from fiscal 2024.
- Revenue
- +7.19%
- EPS
- +40.6%
- Free cash flow
- +64.2%
- Total debt
- −1.90%
Quarter to September 2026, against a year earlier
83.10
0.65
−0.78%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | 16,633 | 17,164 | 17,585 | 18,341 | 19,552 | 19,672 | 20,625 | 21,637 | +3.7% | 21,866 | 22,914 | 24,049 | +5.3% | |
| Gross margin, % | — | — | — | 39.37 | 39.43 | 40.80 | 39.14 | 40.52 | 41.71 | 39.99 | 39.95 | +0.6 pt | ||||||
| EBT | — | — | — | 2,091 | 2,710 | 2,875 | 2,512 | 2,361 | 2,581 | 2,768 | 2,770 | +4.8% | ||||||
| EBT margin, % | — | — | — | 12.57 | 15.79 | 16.35 | 13.70 | 12.08 | 13.12 | 13.42 | 12.80 | +0.9 pt | ||||||
| Net income | — | — | — | 1,553 | 13,897 | 2,293 | 1,967 | 1,614 | 2,050 | 2,154 | 2,210 | +5.6% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | 36.56 | 37.72 | 38.73 | 40.40 | 42.97 | 43.14 | 45.23 | 47.87 | +3.6% | |||||
| Earnings | — | — | — | 3.35 | 30.45 | 5.05 | 4.22 | 3.05 | 4.37 | 4.56 | 4.76 | +5.3% | ||||||
| Cash flow | — | — | — | 4.04 | 5.75 | 3.54 | 4.70 | 4.62 | 4.29 | 4.36 | 5.34 | +1.3% | ||||||
| Capex | — | — | — | (0.61) | (0.53) | (0.51) | (0.67) | (0.85) | (0.88) | (1.06) | (1.16) | +9.5% | ||||||
| Free cash flow | — | — | — | 3.43 | 5.22 | 3.03 | 4.03 | 3.77 | 3.41 | 3.30 | 4.18 | (0.6%) | ||||||
| Book value | — | — | — | 0.00 | 32.42 | 36.73 | 20.62 | 15.70 | 18.56 | 22.79 | 25.73 | n/m | ||||||
| Shares, m | — | — | — | 455 | 455 | 454 | 454 | 455 | 456 | 456 | 454 | 0.0% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | 13.06 | 13.06 | 13.06 | 13.06 | 25.04 | 17.89 | 17.99 | 17.52 | 16.2 | |||||
| P/S | — | — | — | 0.00 | 0.00 | 0.00 | 1.39 | 1.78 | 1.81 | 1.81 | 1.74 | 1.0 | ||||||
| P/B | — | — | — | 1.61 | 1.61 | 1.61 | 2.72 | 4.86 | 4.21 | 3.60 | 3.24 | 2.9 | ||||||
| EV/Sales | — | — | — | 0.00 | 0.00 | 0.00 | 1.76 | 2.21 | 2.20 | 2.16 | 2.15 | 1.2 | ||||||
| EV/FCF | — | — | — | 35.43 | 35.43 | 35.43 | 17.63 | 25.19 | 27.82 | 29.61 | 24.58 | 29.5 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | 1,838 | 2,618 | 1,607 | 2,134 | 2,101 | 1,955 | 1,987 | 2,415 | +1.3% | |||||
| Capex | — | — | — | (279) | (243) | (233) | (306) | (386) | (401) | (482) | (526) | +9.5% | ||||||
| Free cash flow | — | — | — | 1,559 | 2,375 | 1,374 | 1,828 | 1,715 | 1,554 | 1,505 | 1,889 | (0.6%) | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | (628) | 239 | 1,127 | 429 | 348 | 3,396 | 2,680 | n/m | |||||
| Net debt | — | — | — | — | (972) | (519) | 6,804 | 8,456 | 7,583 | 7,157 | 8,745 | n/m | ||||||
| Shareholders’ equity | — | — | — | — | 14,751 | 16,676 | 9,362 | 7,145 | 8,464 | 10,390 | 11,630 | (6.8%) | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | 0.00 | 114.30 | 8.89 | 7.12 | 4.62 | 6.08 | 5.95 | 5.78 | +5.9 pt | |||||
| ROIC | — | — | — | 0.00 | 12.34 | 10.81 | 9.75 | 9.75 | 10.22 | 9.84 | 8.86 | +9.8 pt | ||||||
| ROE | — | — | — | 0.00 | 0.00 | 14.30 | 14.72 | 16.78 | 25.54 | 22.11 | 19.89 | +22.1 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | 51,000 | 50,000 | 51,000 | 53,000 | 54,000 | — | +1.4% | |||||
| Revenue/emp, $m | — | — | — | 0.00 | 0.00 | 0.34 | 0.37 | 0.38 | 0.37 | 0.38 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026
Business profile
Where the money comes from and where it goes Fiscal 2025
| Imaging | 9,245 | 44.82% |
|---|---|---|
| AVS | 5,354 | 25.96% |
| PCS | 3,086 | 14.96% |
| PDx | 2,900 | 14.06% |
| Gross margin | 39.99% | |
| Operating margin | 13.39% | |
| Pre-tax margin | 13.42% |
GE HealthCare Technologies Inc. vs peers in Medical Devices (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| BSX Boston Scientific Corporation | $64.7B | 18.7× | 17.0× | +1.44% (above 0%: growing) | −21.57% (below 0%: shrinking) | −25.30% (below 0%: shrinking) | 66.72% | 16.12% | Compare |
| EW Edwards Lifesciences Corporation | $58.1B | 56.7× | 36.5× | +10.46% (above 0%: growing) | +6.00% (above 0%: growing) | −1.84% (below 0%: shrinking) | 78.48% | 17.44% | Compare |
| GEHC GE HealthCare Technologies Inc. | $37.9B | 17.5× | 15.5× | +7.19% (above 0%: growing) | +40.64% (above 0%: growing) | +64.18% (above 0%: growing) | 40.34% | 14.58% | |
| DXCM DexCom, Inc. | $31.5B | 32.6× | 31.8× | +11.18% (above 0%: growing) | 0.00% | −52.93% (below 0%: shrinking) | 64.29% | 24.34% | Compare |
| PHG Koninklijke Philips N.V. | $29.8B | 25.8× | 11.2× | +0.55% (above 0%: growing) | −85.00% (below 0%: shrinking) | +154.15% (above 0%: growing) | 46.44% | 3.76% | Compare |
| STE STERIS plc | $24.8B | 30.0× | 25.1× | +8.79% (above 0%: growing) | +12.82% (above 0%: growing) | +43.64% (above 0%: growing) | 44.74% | 18.53% | Compare |
| ZBH Zimmer Biomet Holdings, Inc. | $20.4B | 26.9× | 18.9× | +3.07% (above 0%: growing) | −13.45% (below 0%: shrinking) | +29.77% (above 0%: growing) | 71.18% | 14.91% | Compare |
| SNN Smith & Nephew SNATS, Inc. | $13.4B | 38.9× | 18.9× | +7.99% (above 0%: growing) | −14.23% (below 0%: shrinking) | +293.94% (above 0%: growing) | 69.42% | 0.00% | Compare |
| GKOS Glaukos Corporation | $13.0B | — (loss-making) | — (loss-making) | +58.03% (above 0%: growing) | n/m | +411.22% (above 0%: growing) | 85.23% | 0.39% | Compare |
| Median of peers | $27.3B | 30.0× | 18.9× | +8.39% | −13.45% | +36.71% | 68.07% | 15.52% |
From the latest earnings call
- Peter Arduini said Patient Care Solutions improved fulfillment after addressing supply challenges, and GE HealthCare is evaluating strategic options for the business.
- Bill Grogan said pricing and cost actions supported margins, while memory-chip inflation and higher oil prices added to costs across the supply chain.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
86.63%
Held by the ten largest
51.58%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Vanguard | 54.69m | 12.11% | +2.03m |
| Dodge & Cox | 37.86m | 8.38% | +6.55m |
| BlackRock | 37.47m | 8.30% | +1.48m |
| State Street | 20.86m | 4.62% | +323.09k |
| Invesco | 18.30m | 4.05% | +992.91k |
| HARRIS ASSOCIATES L P | 14.91m | 3.30% | −227.72k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC | 13.46m | 2.98% | +1.57m |
| Geode Capital Management | 12.87m | 2.85% | +472.17k |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | 12.25m | 2.71% | +2.28m |
| JPMorgan Chase | 10.33m | 2.29% | +1.36m |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 19 March 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 18.56m | 19.55m | 136.20 |
| 2024 | 19.49m | 13.41m | 129.59 |
| 2023 | 24.51m | 29.85m | 127.98 |
| 2022 | 10.50m | 7.34m | — |
Ownership
Directors and executive officers, together
less than 1%
The Vanguard Group,
11.50%
Blackrock, Inc.,
7.90%
Dodge & Cox,
6.80%
Capital Research Group Investors,
5.50%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
GE HealthCare Technologies Inc. (GEHC) Latest News
28 Oct
27 Oct
22 Oct
20 Oct
17 Oct
GEHC metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
GE HealthCare Technologies sells medical equipment, diagnostic drugs, software and services to hospitals, health systems and researchers. Its products help clinicians see inside the body, monitor patients and guide treatment. The company is headquartered in Chicago, Illinois, and Peter J. Arduini is its chief executive.
Its imaging equipment includes CT and magnetic resonance scanners, X-ray systems and molecular imaging machines. These devices produce images used to investigate conditions such as cancer, heart disease and injuries. The company also sells ultrasound equipment used in examinations and procedures, including devices for women’s health and cardiovascular care.