FirmAtlas
Company handbook · GEHC · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
GEHC · CIK 1932393 · LATEST FILING: 10-Q JUN '26 · FILED JUL 29, 2026
GE HEALTHCARE TECHNOLOGIES INC.
$69.57
−0.78 (−1.11%)
Close, Oct 16, 2026 · 52-week $59–90
Last fiscal year
GE HEALTHCARE TECHNOLOGIES INC. reported revenue of $20.6B for the year ended Dec 31, 2025 (FY25), up 4.8% from FY24. Net income was $2.1B, operating cash flow $2.0B and free cash flow $1.5B. Source: 10-K filed Feb 4, 2026.
Market cap
$31.9B
P/E
16.7
EV/EBITDA
12.4x
P/B
3.0
Div yield
0.20%
ROIC
13.3%
Revenue 1Y
4.8%/yr
EPS 1Y
4.8%/yr
Shares 1Y
−0.2%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
HQChicago, IL
AuditorDeloitte & Touche LLP
Employees54,000
Year endsDecember
Revenue by segment · FY25
Imaging45%
AVS26%
PCS15%
P Dx14%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
—
—
1.3%
−5.2%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$1.9B deployed
Capex
$883M
46.6%
Acquisitions
$691M
36.5%
Dividends
$119M
6.3%
Buybacks
$200M
10.6%
Operating cash flow over the period: $3.9B. Total debt changed by +$58M. R&D of $2.6B is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Mar '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
19,672
20,625+4.8%
20,979
YoY
+4.8%
Gross profit
8,205
8,248+0.5%
8,213
Gross margin
41.7%
40.0%−1.7 pp
—
Operating income
2,625
2,763+5.3%
2,649
Operating margin
13.3%
13.4%+0.1 pp
—
EBITDA
2,893
3,050+5.4%
—
EBITDA margin
14.7%
14.8%+0.1 pp
—
Interest expense
504
440−12.7%
—
Interest coverage
5.74x
6.93x+1.19x
—
Net income
1,993
2,084+4.6%
1,909
YoY
+4.6%
Net margin
10.1%
10.1%−0.0 pp
—
EPS (diluted, $)
4.34
4.55+4.8%
4.17
YoY
+4.8%
Balance sheet
Total assets
33,089
36,906+11.5%
37,125
Cash & short-term investments
2,893
4,515+56.1%
—
Accounts receivable
3,566
3,955+10.9%
—
Inventory
1,939
2,234+15.2%
—
Other assets
24,691
26,202+6.1%
—
Total liabilities
24,643
26,527+7.6%
26,457
Accounts payable
3,035
3,250+7.1%
—
Total debt
10,453
10,511+0.6%
10,141
Other liabilities
11,155
12,766+14.4%
—
Shareholders’ equity
8,446
10,379+22.9%
10,668
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
1,955
1,987+1.6%
2,027
Net income
2,050
2,154+5.1%
—
Depreciation & amortization
268
287+7.1%
—
Stock-based compensation
125
130+4.0%
—
Working capital & other
(488)
(584)n/m
—
Cash from investing
(914)
(1,047)n/m
—
Capex
(401)
(482)n/m
—
PP&E sold
0
0n/m
—
Acquisitions
(313)
(378)n/m
—
Investments bought
(40)
(118)n/m
—
Other investing
(160)
(69)n/m
—
Cash from financing
(573)
617n/m
—
Dividends
(55)
(64)n/m
—
Buybacks
0
(200)n/m
—
Shares issued
33
37+12.1%
—
Other financing
(551)
844n/m
—
Net change in cash
387
1,623+319.4%
—
Free cash flow (OCF − capex)
1,554
1,505−3.2%
1,519
Where the cash went
Operating cash flow
1,955
1,987+1.6%
2,027
Reinvested in the business
714
860+20.4%
—
% of operating cash flow
36.5%
43.3%
Capex
401
482+20.2%
508
Acquisitions
313
378+20.8%
—
R&D (memo, already in costs)
1,311
1,260−3.9%
—
Free cash flow
1,554
1,505−3.2%
1,519
YoY
−3.2%
Returned to shareholders
55
264+380.0%
—
% of free cash flow
3.5%
17.5%
Dividends
55
64+16.4%
—
Buybacks
0
200n/m
—
Change in total debt
—
58
—
Cash left over
—
921
—
FCF conversion (FCF ÷ net income)
78.0%
72.2%−5.8 pp
—
Owner earnings
—
1,420
—
Owner earnings margin
—
6.9%
—
Buyback yield
—
0.5%
—
Returns & ratios
ROIC (all capital)
13.0%
13.3%+0.3 pp
—
ROIC (operating)
84.4%
79.5%−4.9 pp
—
Net debt / EBITDA
2.61x
1.97x−0.65x
—
Debt / equity
1.24x
1.01x−0.22x
—
Cash conversion cycle (days)
31
40+9 d
—
ROE
23.6%
20.1%−3.5 pp
—
ROA
6.0%
5.6%−0.4 pp
—
ROCE
11.2%
9.9%−1.2 pp
—
NOPAT
2,085
2,150+3.1%
—
Invested capital (operating)
2,470
2,939+19.0%
—
Invested capital (all)
16,006
16,375+2.3%
—
Reinvestment rate
—
21.8%
—
Debtor days
66
70+4 d
—
Inventory days
62
66+4 d
—
Days payable
97
96−1 d
—
Income
Jun '25
Sep '25
Dec '25
Mar '26
Revenue
5,007
5,143
5,698
5,131
vs year-ago quarter
Gross profit
1,985
1,990
2,261
1,977
Gross margin
39.6%
38.7%
39.7%
38.5%
Operating income
654
653
827
515
Net income
486
446
588
389
vs year-ago quarter
Net margin
9.7%
8.7%
10.3%
7.6%
EPS (diluted, $)
1.06
0.98
1.28
0.85
vs year-ago quarter
Balance sheet
Jun '25
Sep '25
Dec '25
Mar '26
Total assets
35,500
36,127
36,906
37,125
Cash & equivalents
3,766
4,030
4,515
2,288
Total debt
12,280
12,287
10,511
10,141
Shareholders’ equity
9,712
9,993
10,379
10,668
Cash flow
Jun '25
Sep '25
Dec '25
Mar '26
Operating cash flow
94
593
1,050
290
Capex
86
110
134
178
Free cash flow
8
483
916
112
vs year-ago quarter