GE HealthCare Technologies Inc.

GEHC · NASDAQ · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Valuation
Market cap	$37,362	$35,718	$35,199	$26,500	–	–	–
Enterprise value	$42,884	$42,238	$42,580	$33,700	–	–	–
P/E (TTM) at period end	17.93×	17.92×	25.41×	13.83×	–	–	–
P/S (TTM) at period end	1.81×	1.82×	1.80×	1.44×	–	–	–
P/B at period end	3.60×	4.23×	4.93×	2.83×	–	–	–
EV / EBITDA (TTM)	14.06×	14.60×	15.87×	12.25×	–	–	–
EV / Sales (TTM)	2.08×	2.15×	2.18×	1.84×	–	–	–
Returns
Return on equity	20.1%	23.6%	19.4%	20.5%	13.5%	94.0%	–
Return on invested capital	13.5%	13.9%	11.5%	11.8%	13.4%	14.5%	8.3%
Dividend yield	0.2%	0.2%	0.1%	–	–	–	–
Financial health
Current ratio	1.37×	1.04×	1.05×	1.16×	1.04×	0.84×	–
Debt / equity	0.96×	1.06×	1.32×	0.88×	0.00×	0.01×	–
Effective tax rate	22.2%	20.6%	31.5%	22.4%	20.9%	24.1%	19.6%
Share count
Diluted shares outstanding	458	459	458	454	454	455	455

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Revenue and gross profit
Revenue	$20,243	$20,625	$19,672	$19,552	$18,341	$17,585	$17,164	$16,633
Cost of revenue	–	($12,378)	($11,467)	($11,630)	($11,162)	($10,411)	($10,397)	($10,085)
Gross profit	–	$8,247	$8,205	$7,922	$7,179	$7,174	$6,767	$6,548
Operating expenses
Research and development	($1,283)	($1,260)	($1,311)	($1,205)	($1,026)	($816)	($810)	($833)
Selling, general and administrative	($4,391)	($4,225)	($4,269)	($4,282)	($3,631)	($3,563)	($3,237)	($3,591)
Total operating expenses	($8,087)	($5,484)	($5,580)	($5,487)	($4,657)	($4,379)	($4,047)	($4,424)
Total costs and expenses	($17,509)	($17,862)	($17,047)	($17,117)	($15,819)	($14,790)	($14,444)	($14,509)
Operating income	$2,734	$2,763	$2,625	$2,435	$2,522	$2,795	$2,720	$2,124
Earnings
EBITDA	$3,037	$3,050	$2,893	$2,683	$2,750	$3,020	$2,942	$2,783
Interest income	–	–	–	$26	–	$34	$49	$36
Interest expense	($426)	($440)	($504)	($542)	($77)	($40)	($66)	($88)
Pre-tax income	$2,662	$2,768	$2,581	$2,361	$2,512	$2,875	$2,710	$2,091
Income tax expense	($611)	($614)	($531)	($743)	($563)	($600)	($652)	($410)
Net income	$1,985	$2,084	$1,993	$1,568	$1,916	$2,247	$13,846	$1,524
Per share
Diluted EPS (GAAP)	$4.36	$4.55	$4.34	$3.03	$4.22	$4.95	$4.41	$3.35
Basic EPS (GAAP)	$4.37	$4.56	$4.37	$3.05	$4.22	$4.95	$4.41	$3.35
Basic shares outstanding	455	456	456	455	454	454	455	455
Margins
Gross margin	–	40.0%	41.7%	40.5%	39.1%	40.8%	39.4%	39.4%
Operating margin	13.5%	13.4%	13.3%	12.5%	13.8%	15.9%	15.8%	12.8%
Net margin	9.8%	10.1%	10.1%	8.0%	10.4%	12.8%	80.7%	9.2%

Analyst consensus

Buy19 analysts

Bearish · 0 · Hold · 8 · Bullish · 11

Earnings history

	EPS	Estimate
Q3 2024	$1.14	$1.05	Beat
Q4 2024	$1.45	$1.26	Beat
Q1 2025	$1.01	$0.91	Beat
Q2 2025	$1.06	$0.92	Beat
Q3 2025	$1.07	$1.05	Beat
Q4 2025	$1.44	$1.40	Beat
Q1 2026	$0.99	$1.04	Miss
Q2 2026	$1.13	$1.04	Beat

Peers

Company overview

IPO dateDec 15, 2022

CEOPeter J. Arduini

Employees54,000

SectorHealthcare

IndustryMedical - Devices

CountryUS

ExchangeNASDAQ Global Select

Websitewww.gehealthcare.com

GE HealthCare Technologies Inc. is a global medical technology company that creates, manufactures, and markets a diverse range of medical devices, services, and integrated digital solutions. These offerings are designed to assist in the diagnosis, treatment, and ongoing monitoring of patients. The company boasts an extensive international presence, serving markets across the United States, Canada, Europe, the Middle East, Africa, China, Taiwan, Mongolia, and Hong Kong, among other regions. Its operations are structured across four primary business divisions: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics. The Imaging division specializes in advanced diagnostic imaging technologies, including systems for molecular imaging, Computed Tomography (CT) scans, Magnetic Resonance (MR) imaging, image-guided therapy, and X-ray, alongside specialized women's health products. The Ultrasound segment delivers a comprehensive suite of ultrasound solutions utilized for the screening, diagnosis, treatment, and monitoring of various diseases. These applications span radiology, primary care, women's health, cardiovascular diagnostics, point-of-care, and portable handheld devices, in addition to products supporting surgical visualization and guidance. The Patient Care Solutions segment is dedicated to providing essential medical devices, consumable products, services, and digital platforms. Its portfolio encompasses patient monitoring, anesthesia delivery and respiratory care, diagnostic cardiology, and maternal-infant care products. The Pharmaceutical Diagnostics segment supplies specialized diagnostic agents to the radiology and nuclear medicine industries. These include contrast media pharmaceuticals, administered to patients prior to scans like CT, angiography, X-ray, and MR, to enhance the visibility of internal tissues and structures. It also offers molecular imaging agents, or radiopharmaceuticals – molecular tracers labeled with radioisotopes – injected into patients for advanced diagnostic imaging applications such as Single-Photon Emission Computed Tomography (SPECT), Positron Emission Tomography (PET), and specific ultrasound procedures. Established in 2022, GE HealthCare Technologies Inc. maintains its corporate headquarters in Chicago, Illinois.

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