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GE HealthCare (GEHC) stock

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NASDAQ: GEHC Nasdaq Health Care Equipment Next results ~January 25, 2027

B Fundamentals grade

GE HealthCare is a US-listed company in the health care equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$46

Cash-flow model

Base case. Range ~$28–$69 across our lower- and higher-growth cases (0.4%–10.4% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 43% below it.

Price used: $79.55, November 2, 2026

GE HealthCare valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter GE HealthCare files

10-Q filed October 28: GE HealthCare

Revenue for the twelve months to September 2026 reached $21.6bn, up 6.9% on a year earlier and broadly in line with the pace seen a quarter ago. Free-cash-flow margin improved to 8.7% from 6.9%, lifting the fundamentals grade from D to C+. Our model value is little changed at $39.09 a share, well below the $71.35 price. On that basis the rating stays Sell. At the current price, the model implies the market expects cash flow to grow about 12.0% a year for five years. That is well ahead of the 4.2% a year revenue growth the company has actually delivered.

Source: 10-Q filed October 28, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where GE HealthCare stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $21.3bn, up 6.5% on a year earlier, faster than 6.0% a quarter earlier. That puts it 13 of 15 for growth among the health care equipment companies we cover. Free-cash-flow margin held at 7.4%. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 5 financial-health checks. Our cash-flow model value is $49.32 a share, against a share price of $70.05. At that price, our model says the market is pricing in about 9.9% a year of cash-flow growth for five years, faster than the 3.9% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 25, 2027 (estimated)

GE HealthCare's trailing-twelve-month revenue grew 6.9% year on year, with a free-cash-flow margin of 8.7%. Where it stands out: stock pay as % of revenue of 0.7% ranks 2 of 123 health care equipment companies we cover.

Our discounted-cash-flow model values the business at ~$46 per share in the base case (~$28–$69 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 34.9% while net income fell 2.8%: a 38pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in GE HealthCare's latest figures clears our strength thresholds.

Things to watch

  • Priced above our value. The share price of $79.55 is 43% above our value per share of $46.
  • Below peers: gross margin. Gross margin of 39.9% ranks 98 of 123 health care equipment companies we cover (median 61.9%).

Latest results: FY2026 Q3

Filed October 28, 2026
Earnings per share
$1.34 against an average estimate of $1.20: beat by 11.3%
Revenue
$5.51bn, up 7.2% on a year earlier
Share reaction
+7.5% in the first session after the results on October 28, 2026, against 0.0% for the S&P 500
Guidance given
organic Revenue Growth growth 4% (full-year 2026); adjusted EBIT Margin 15.5% to 15.7% (full-year 2026)
Next report
October 28, 2026; average EPS estimate $1.56

GE HealthCare's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.9%
  • 1 week+10.5%
  • 1 month+23.8%
  • This year-2.8%
  • 1 year+6.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$21.6B
Operating margin
13.3%
Net margin
10.0%
EPS (TTM, diluted)
$4.73

Growth

Revenue growth
+6.9%
Change in growth rate
+0.4 pts
Share count change
−0.6%

Cash

Free cash flow (TTM)
$1.9B
FCF margin
8.7%
Stock pay % of revenue
0.7%

Earnings

Last results
October 28, 2026
Next results (est.)
January 25, 2027

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Our research
  3. Results
  4. Guidance
  5. Our research
  6. Leadership
  7. Leadership
  8. Announcement
  9. Results
  10. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

GE HealthCare valuation models and calculator

What the price is pricing in

The share price implies about 12.1% a year of cash-flow growth for five years.That is faster than the 4.2% a year revenue growth GE HealthCare has delivered.

  • Priced in12.1%
  • Last 12 months6.9%
  • 3 years a year3.9%
  • 5 years a year4.2%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($79.07, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$46
Price used
$79.07close November 3, 2026
Implied change
▼ 42%
Uncertainty
High

How we got here: a discounted-cash-flow model of GE HealthCare's free cash flow after stock-based pay with after-tax interest added back ($1.6B, FY2026 Q3 TTM), growing 4.9% and 5.2% in the next two years (forecasts, guidance and its record), then back to 5.4% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$28–~$69 ; that spread sets a 35% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of GE HealthCare's free cash flow after stock-based pay ( $1.6B, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value GE HealthCare as an operating company, with every model that fits that kind of business. Cost of equity 9.8%: the 10-year Treasury yield (4.9%) plus a beta of 1.07 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$46 ~$28–$69 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$91 ~$79–$140 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$80 ~$56–$120 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$63 ~$55–$74 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$65 ~$46–$91 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare GE HealthCare with Health Care Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −35%
  • Revenue growth 5 points higher ▲ +45%
  • Free-cash-flow margin 1 point lower ▼ −16%
  • Last year's free-cash-flow margin change, if it persists ▲ +41%
  • Discount rate 1 point higher ▼ −21%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $26$44$69$101$143$197
8.5% $14$27$45$68$98$136
10% $6$17$30$48$71$100

Valuation multiples over time Market data may be delayed

At fiscal year end 2022202320242025Now
Share price$58.00$76.91$77.88$81.86$79.55
Market value$26.3bn$35.2bn$35.7bn$37.5bn$36.2bn
+ Net debt (− = net cash)$6.9bn$8.0bn$7.6bn$6.0bn$7.3bn
Enterprise value$33.2bn$43.2bn$43.3bn$43.5bn$43.6bn
Multiples
Price / sales 1.4x1.8x1.8x1.8x1.7x
Price / earnings 13.7x22.5x17.9x18.0x16.8x
Price / free cash flow 14.4x20.6x23.0x24.9x19.2x
EV / EBITDA 12.1x16.1x15.0x14.3x13.6x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $5.02 +9% $21.9bn +6%
Next $5.47 +9% $22.9bn +5%

Next year's EPS estimate has moved +1.3% in 90 days, across 21 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +2.0% on 90 days ago. In the last 30 days, 1 analyst raised GE HealthCare's forecast and 0 cut it.

Consensus EPS forecast GE HealthCare, last 90 days
$4.80 $5.00 $5.20 $5.40 $5.60 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $4.92 Current fiscal year, 60 days ago: $4.93 Current fiscal year, 30 days ago: $4.93 Current fiscal year, 7 days ago: $4.92 Current fiscal year, Now: $5.02 $5.02 Next fiscal year, 90 days ago: $5.40 Next fiscal year, 60 days ago: $5.41 Next fiscal year, 30 days ago: $5.41 Next fiscal year, 7 days ago: $5.41 Next fiscal year, Now: $5.47 $5.47

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $4.92$5.40
60 days ago $4.93$5.41
30 days ago $4.93$5.41
7 days ago $4.92$5.41
Now $5.02$5.47

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $1.20 $1.34 +11.3%
Jun 2026 $1.04 $1.13 +9.1%
Mar 2026 $1.05 $0.99 −5.7%
Dec 2025 $1.40 $1.44 +3.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 28, 2026
  • Organic Revenue Growth full-year 2026 about 4% growth Non-GAAP Raised
    “Organic Revenue Growth* (1) 3.5% 3.0% - 4.0% ~4.0%” source
  • Adjusted EPS full-year 2026 $4.95 to $5.05 Non-GAAP Raised
    “Adjusted EPS* $4.59 $4.80 - $5.00 4.6% - 9.0% $4.95 - $5.05 7.9% - 10.1%” source
  • Adjusted EBIT Margin full-year 2026 15.5% to 15.7% Non-GAAP Raised
    “Adjusted EBIT Margin* 15.3% 15.4% - 15.7% 10 - 40 bps 15.5% - 15.7% 20 - 40 bps” source
  • Adjusted ETR full-year 2026 20% to 21% Non-GAAP Maintained
    “Adjusted ETR* 20.2% 20.0% - 21.0% Reaffirmed” source
  • Free Cash Flow full-year 2026 about $1.6bn Non-GAAP Raised
    “Free Cash Flow* $1.5B ~$1.6B $1.6B+” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows GE HealthCare's revenue by +4.9% next year and +5.2% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+4.7%, weight 69%) and the company's own record (+5.4%, weight 31%) . How the weights are set.

Analyst recommendations

22 analysts, Oct 2026
Buy1673%
Hold627%
Sell00%

Monthly trend

  1. Oct 2026610622
  2. Sep 2026510520
  3. Aug 2026410519
  4. Jul 2026410519

Counts of recommendations published by analysts covering GE HealthCare, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.9%
of tradable shares
Days to cover
4.91
at average volume
Short interest, 1 month
+15%
to October 15, 2026
Held by institutions
94%
of shares
Held by insiders
0.4%
of shares
Employees
54,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +6.4%

$74.80 on October 31, 2025 to $79.55

ThenNowEffect
Revenue (last 12 months) $20.0bn $21.3bn +6.5%
Net margin 11.2% 9.3% −16.8%
P/E multiple 15.3x 18.3x +19.5%
Share count 459m 457m +0.5%

Biggest factor: net margin.

Last 3 years +11.7%

$71.19 on November 3, 2023 to $79.55

ThenNowEffect
Revenue (last 12 months) $19.0bn $21.3bn +11.7%
Net margin 9.6% 9.3% −3.0%
P/E multiple 17.7x 18.3x +3.2%
Share count 456m 457m −0.2%

Biggest factor: revenue.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 2023202420252026 to date
Return
GEHC+33%+1%+5%−3%
Industry peers (median)−9%−20%−16%−15%
S&P 500+26%+25%+18%+11%
Months that ended higher
GEHC50%42%58%64%
S&P 50067%75%75%46%
Largest fall from a high during the year
GEHC−28%−20%−37%−33%
S&P 500−10%−8%−19%−9%

Worst fall since December 15, 2022: 37% from September 30, 2024 to April 8, 2025. Getting back needed a 60% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$59.42 – $87.98
From 52-week high
−9.6%
vs 50-day average
+16.1%
vs 200-day average
+14.1%
Volatility (1 year)
35%
Beta vs S&P 500
0.63

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±5.9%
After a week
6 up, 5 down
typical move ±6.4%
After a month
5 up, 6 down
typical move ±7.2%
Results releasedNext dayS&P 500 next day5 days21 days
October 28, 2026 +7.5% 0.0% — —
July 29, 2026 +9.1% +0.1% +9.6% +13.1%
July 23, 2026 −1.3% −1.1% +14.0% +21.9%
April 29, 2026 −11.2% +1.0% −9.9% −9.0%
February 4, 2026 +4.5% −1.7% +0.5% −5.7%
October 29, 2025 −5.5% −1.1% −4.8% +0.7%
July 30, 2025 −8.2% −0.5% −10.0% −5.1%
April 30, 2025 −0.6% +0.7% +1.1% +3.6%
February 13, 2025 +7.3% +1.1% +6.0% −4.0%
October 30, 2024 +2.4% −2.3% +1.8% −2.4%
July 31, 2024 +0.9% +0.2% −4.0% +1.7%
April 30, 2024 −12.0% −1.9% −8.4% −11.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How GE HealthCare’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look rich

Option prices imply clearly more movement than the shares have shown. That strengthens the case for selling options.

  • Implied is 1.36× the last 60 days’ realised volatility , richer than 80% of the 229 stocks we screen today.
  • Puts and calls are priced at about the same implied volatility.
  • Why: implied is 1.36x 60-day realised, above 1-year realised, and in the top 20% of our coverage today.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

GEHC GE HealthCare Grade B $79.57

Own 100 shares, sell the $81.00 call expiring December 11, 2026 (39 days) for $2.45 a share — $245 per contract.

Previous session · Bid $2.45, ask $2.90, quoted Mon 2 Nov, 17:24 New York time with GEHC at $79.57. Option prices move with the shares: check the live chain at your broker before trading.

  • If GEHC ends below $81.00: you keep your shares and the $245 — 3.1% extra on the position, 28.8% a year at that pace.
  • If it ends above $81.00: your shares are sold at $81.00, a total return of 4.9% including the premium — at or above our value of ~$46.
$388 $0 −$1.5k Break-even $77.12 Price $79.57 ← Our value ~$46
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$245
Annualised
28.8%
Break-even
$77.12
Max gain
$388
Chance of selling
~47%

Collar

Own the shares, buy the $72.50 put and sell the $87.50 call, both expiring December 18, 2026 (46 days).

  • Net cost of $0.25 a share ($25.00 per contract of 100 shares).
  • Worst case at expiry: -9.2%, if the shares fall below $72.50 (-8.9% from today).
  • Best case at expiry: +9.7%, if the shares rise above $87.50 (+10.0%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $46.00: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

GE HealthCare in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) GE HealthCare
$19B $20B $21B $22B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $19.6B Revenue (TTM), FY24 Q1: $19.5B Revenue (TTM), FY24 Q2: $19.5B Revenue (TTM), FY24 Q3: $19.6B Revenue (TTM), FY24 Q4: $19.7B Revenue (TTM), FY25 Q1: $19.8B Revenue (TTM), FY25 Q2: $20B Revenue (TTM), FY25 Q3: $20.2B Revenue (TTM), FY25 Q4: $20.6B Revenue (TTM), FY26 Q1: $21B Revenue (TTM), FY26 Q2: $21.3B Revenue (TTM), FY26 Q3: $21.6B $21.6B

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $19.6B
FY24 Q1 $19.5B
FY24 Q2 $19.5B
FY24 Q3 $19.6B
FY24 Q4 $19.7B
FY25 Q1 $19.8B
FY25 Q2 $20B
FY25 Q3 $20.2B
FY25 Q4 $20.6B
FY26 Q1 $21B
FY26 Q2 $21.3B
FY26 Q3 $21.6B
Revenue growth, TTM YoY GE HealthCare
0% 2% 4% 6% 8% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 6.6% Revenue growth, TTM YoY, FY24 Q1: 4.2% Revenue growth, TTM YoY, FY24 Q2: 2.5% Revenue growth, TTM YoY, FY24 Q3: 1.4% Revenue growth, TTM YoY, FY24 Q4: 0.6% Revenue growth, TTM YoY, FY25 Q1: 1.6% Revenue growth, TTM YoY, FY25 Q2: 2.3% Revenue growth, TTM YoY, FY25 Q3: 3.5% Revenue growth, TTM YoY, FY25 Q4: 4.8% Revenue growth, TTM YoY, FY26 Q1: 6.0% Revenue growth, TTM YoY, FY26 Q2: 6.5% Revenue growth, TTM YoY, FY26 Q3: 6.9% 6.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 6.6%
FY24 Q1 4.2%
FY24 Q2 2.5%
FY24 Q3 1.4%
FY24 Q4 0.6%
FY25 Q1 1.6%
FY25 Q2 2.3%
FY25 Q3 3.5%
FY25 Q4 4.8%
FY26 Q1 6.0%
FY26 Q2 6.5%
FY26 Q3 6.9%
Operating margin (TTM) GE HealthCare
12% 12.5% 13% 13.5% 14% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 12.5% Operating margin (TTM), FY24 Q1: 12.4% Operating margin (TTM), FY24 Q2: 12.6% Operating margin (TTM), FY24 Q3: 12.8% Operating margin (TTM), FY24 Q4: 13.3% Operating margin (TTM), FY25 Q1: 13.7% Operating margin (TTM), FY25 Q2: 13.8% Operating margin (TTM), FY25 Q3: 13.5% Operating margin (TTM), FY25 Q4: 13.4% Operating margin (TTM), FY26 Q1: 12.6% Operating margin (TTM), FY26 Q2: 12.9% Operating margin (TTM), FY26 Q3: 13.3% 13.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 12.5%
FY24 Q1 12.4%
FY24 Q2 12.6%
FY24 Q3 12.8%
FY24 Q4 13.3%
FY25 Q1 13.7%
FY25 Q2 13.8%
FY25 Q3 13.5%
FY25 Q4 13.4%
FY26 Q1 12.6%
FY26 Q2 12.9%
FY26 Q3 13.3%
FCF margin (TTM) GE HealthCare
6.5% 7% 7.5% 8% 8.5% 9% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 8.8% FCF margin (TTM), FY24 Q1: 8.5% FCF margin (TTM), FY24 Q2: 8.3% FCF margin (TTM), FY24 Q3: 8.7% FCF margin (TTM), FY24 Q4: 7.9% FCF margin (TTM), FY25 Q1: 7.0% FCF margin (TTM), FY25 Q2: 7.9% FCF margin (TTM), FY25 Q3: 6.9% FCF margin (TTM), FY25 Q4: 7.3% FCF margin (TTM), FY26 Q1: 7.2% FCF margin (TTM), FY26 Q2: 7.4% FCF margin (TTM), FY26 Q3: 8.7% 8.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 8.8%
FY24 Q1 8.5%
FY24 Q2 8.3%
FY24 Q3 8.7%
FY24 Q4 7.9%
FY25 Q1 7.0%
FY25 Q2 7.9%
FY25 Q3 6.9%
FY25 Q4 7.3%
FY26 Q1 7.2%
FY26 Q2 7.4%
FY26 Q3 8.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar GE HealthCare took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $20.6B
  2. Cost of revenue $12.4B · 60.0%
  3. Gross profit $8.2B · 40.0%
  4. Research and development $1.3B · 6.1%
  5. Selling, general and admin $4.2B · 20.5%
  6. Operating income $2.8B · 13.4%
  7. Income tax $614M · 3.0%
  8. Net income $2.1B · 10.1%

Shares of revenue. Source: GE HealthCare's 10-K for FY2025, as filed with the SEC.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 17.6 18.3 19.6 19.7 20.6 21.6
Gross profit 7.2 7.2 7.9 8.2 8.2 8.6
EBITDA 3.0 2.8 2.7 2.9 3.1 3.2
Operating income 2.8 2.5 2.4 2.6 2.8 2.9
Net income 2.2 1.9 1.6 2.0 2.1 2.2
Diluted EPS $4.95 $4.22 $3.03 $4.34 $4.55 $4.73
Growth (year on year)
Revenue — +4.3% +6.6% +0.6% +4.8% +6.9%
EBITDA — −8.9% −2.4% +7.8% +5.4% +5.9%
Operating income — −9.8% −3.4% +7.8% +5.3% +5.4%
Net income — −14.7% −18.2% +27.1% +4.6% −2.8%
Diluted EPS — −14.7% −28.2% +43.2% +4.8% −2.3%
Margins
Gross margin 40.8% 39.1% 40.5% 41.7% 40.0% 39.9%
EBITDA margin 17.2% 15.0% 13.7% 14.7% 14.8% 14.8%
Operating margin 15.9% 13.8% 12.5% 13.3% 13.4% 13.3%
Net margin 12.8% 10.4% 8.0% 10.1% 10.1% 10.0%
Free-cash-flow margin 7.7% 9.9% 8.8% 7.9% 7.3% 8.7%
Cash flow
Cash from operations 1.6 2.1 2.1 2.0 2.0 2.4
Capital spending 0.2 0.3 0.4 0.4 0.5 0.5
Free cash flow 1.4 1.8 1.7 1.6 1.5 1.9
Stock-based pay 0.1 0.1 0.1 0.1 0.1 0.2
Free cash flow after stock pay 1.3 1.8 1.6 1.4 1.4 1.7
Balance sheet
Cash 0.6 1.4 2.5 2.9 4.5 2.8
Total debt 0.0 8.3 10.4 10.5 10.5 10.2
Net debt (negative = net cash) −0.6 6.9 8.0 7.6 6.0 7.3
Diluted shares 454m 454m 458m 459m 458m 456m
Returned to shareholders
Dividends 0.0 0.0 0.0 0.1 0.1 0.1
Buybacks — — 0.0 0.0 0.2 0.3
Total returned 0.0 0.0 0.0 0.1 0.3 0.4

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 5 checks passed · September 30, 2026
What it owns · $38.4bn
Short-term assets $11.5bnLonger-term assets $26.9bn
What it owes, and who funded it · $38.1bn
Short-term liabilities $8.8bnLonger-term liabilities $17.7bnShareholders' equity $11.6bn
  • Short-term assets cover short-term liabilities $11.5bn of assets due within a year against $8.8bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $11.5bn short-term assets against $17.7bn of longer-dated liabilities.
  • More cash than debt $2.8bn of cash against $10.0bn of debt.
  • Debt below 40% of shareholders' equity Debt is 86% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $2.4bn of operating cash flow against $10.0bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From GE HealthCare's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$300M
Dividends (TTM)
$64M
Returned to shareholders
19%
of free cash flow
Buybacks, last 3 fiscal years
$200M
Diluted share count
−0.6%
year over year
Total shareholder yield
1.0%
dividends 0.2% + buybacks 0.8% of market value
Dividend payout ratio
3%
of net income paid out
R&D spending
6.1%
of revenue
Sales & admin spending
20.5%
of revenue

Competitors: side by side with peers

Closest by revenue in health care equipment
Last 12 months unless stated GEHC BSX PHG SYK MDT BAX Median
Revenue, last 12 months $21.6bn $21.1bn $20.2bn $26.3bn $37.5bn $11.6bn $99m
Revenue growth, last 12 months 6.9% 8.9% 3.4% 7.9% 9.8% 5.3% 9.2%
Revenue growth, 3-year average 3.9% 15.3% — 9.8% 6.0% 0.7% 13.5%
Revenue growth, latest quarter 7.2% 1.4% — 7.6% 13.7% 5.0% 10.2%
Gross margin 39.9% 69.1% 45.2% 65.3% 65.0% 30.1% 61.2%
Operating margin 13.3% 18.7% 8.0% 20.7% 18.1% −1.9% −8.5%
Operating margin, 3-year average 13.2% 17.4% 6.6% 18.5% 17.3% 1.7% −17.9%
Net margin 10.0% 16.6% 5.0% 13.8% 13.9% −6.2% −12.0%
Cash from operations / revenue 11.2% 20.1% — 20.7% 21.4% 14.1% −1.9%
Free-cash-flow margin 8.7% 15.8% — 17.4% 16.3% 8.4% −3.9%
Free-cash-flow margin, 3-year average 8.1% 16.4% — 16.2% 15.9% 4.1% −7.0%
Stock pay / revenue 0.7% 1.5% 0.8% 1.0% 1.3% 0.9% 6.1%
Change in share count −0.6% −0.9% 3.1% −0.1% 0.0% 0.7% 4.0%

Median of all 134 companies we cover in health care equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

134 health care equipment companies
Measure Company Peer median Rank
Revenue growth Growth 6.9% 9.1% 75 of 129
Change in growth rate Growth +0.4pp -0.6pp 51 of 129
Gross margin Profitability 39.9% 61.9% 98 of 123
Operating margin Profitability 13.3% -8.3% 23 of 132
Net margin Profitability 10.0% -12.0% 26 of 133
Free-cash-flow margin Cash generation 8.7% -3.4% 34 of 128
Stock pay as % of revenue Cash generation 0.7% 6.1% 2 of 123
Long-term debt as % of assets Balance sheet 26.0% 24.2% 48 of 87
Change in share count Balance sheet -0.6% 3.3% 27 of 115

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Products $13.7B 66.2% ▲ 4.5%
Services $7B 33.8% ▲ 5.6%
Geography
Region Revenue Share YoY
Other Countries $9.4B 45.7% ▲ 5.7%
United States $9.2B 44.4% ▲ 6.4%
China $2B 9.8% ▼ 4.9%

From GE HealthCare's 10-K filed February 4, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$25.2B
Institutions reporting
1,214
Shares held vs prior quarter
▼ 1.0%
Positions opened / closed
111 / 161

Top buyers and sellers, Q2 2026: 508 institutions bought and 625 sold ; the biggest buyer was Dodge & Cox (+6.6M shares) and the biggest seller Capital Research Global Investors (−20.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Dodge & Cox $2.4B 37.9M 9.6% ▲ 20.9%
Blackrock, Inc. $2.4B 37.5M 9.5% ▲ 4.1%
Vanguard Capital Management LLC $1.9B 29.7M 7.5% ▲ 3.0%
State Street Corp $1.3B 20.9M 5.3% ▲ 1.6%
Vanguard Portfolio Management LLC $1.3B 20.3M 5.1% ▲ 5.7%
Invesco Ltd. $1.2B 18.3M 4.6% ▲ 5.7%
Harris Associates L P $981M 15.3M 3.9% ▼ 1.7%
Barrow Hanley Mewhinney & Strauss LLC $861M 13.5M 3.4% ▲ 13.2%
Geode Capital Management, LLC $821M 12.9M 3.3% ▲ 3.8%
Hotchkis & Wiley Capital Management LLC $784M 12.3M 3.1% ▲ 22.9%
Jpmorgan Chase & Co $672M 10.3M 2.7% ▲ 15.2%
Morgan Stanley $398M 6.2M 1.6% ▼ 6.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not GE HealthCare's complete shareholder register. Values are as reported by the filers ; 5 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $6.4M 8 trades by 8 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $6.4M net buying
Insider Date Trade Shares Price Value
Lobo Kevin Director May 22, 2026 Buy 10,000 $64.18 $641,800
Hochman Rodney F Director May 12, 2026 Buy 1,618 $62.03 $100,365
Yang Watkin Phoebe L. Director May 8, 2026 Buy 1,000 $63.01 $63,006
Stromberg William J Director May 6, 2026 Buy 1,000 $61.69 $61,689
Culp H Lawrence Jr Director May 6, 2026 Buy 80,805 $61.88 $5M
Saccaro James Chief Financial Officer May 1, 2026 Buy 3,310 $60.60 $200,585
Arduini Peter J President and CEO April 30, 2026 Buy 4,169 $59.92 $249,827
Jimenez Frank R GC & Corporate Secretary April 30, 2026 Buy 1,750 $60.45 $105,788

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 7 trades and filings

In the last 12 months, 2 members of Congress disclosed 0 purchases and 2 sales of GE HealthCare shares.

  • Terri A. Sewell(D-AL 7):Sale (full), $1,001 - $15,000, traded March 25, 2026, filed April 21, 2026
  • Warren Davidson(R-OH 8):Sale (full), $1,001 - $15,000, traded March 23, 2026, filed March 25, 2026
  • Robert P. Bresnahan, Jr.(R-PA 8):Purchase, $1,001 - $15,000, traded May 15, 2025, filed May 31, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 25, 2027 estimated from the company's past filing pattern, not announced

  • October 28, 2026
  • July 29, 2026
  • July 23, 2026
  • April 29, 2026
  • February 4, 2026
  • October 29, 2025

Recent SEC filings

Data status

When each part of this page on GE HealthCare was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

GE HealthCare in brief

What does GE HealthCare do?
GE HealthCare is a US-listed company in the health care equipment industry. Its financial year ends in December.
What is GE HealthCare's stock ticker?
GE HealthCare trades under the ticker GEHC on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is GE HealthCare's revenue, and how fast is it growing?
Over its most recent trailing twelve months, GE HealthCare reported revenue of $21.6B, 6.9% higher than a year earlier, according to its SEC filings.
What is GE HealthCare's free cash flow?
GE HealthCare's free-cash-flow margin is 8.7% of revenue over the trailing twelve months, ranking 34 of the 128 health care equipment companies we cover.
What is GE HealthCare's fair value (intrinsic value) per share?
Our discounted-cash-flow model of GE HealthCare's free cash flow after stock-based pay gives ~$46 per share in the base case, and ~$28–$69 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are GE HealthCare's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Dodge & Cox, Blackrock, Inc. and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is GE HealthCare buying back stock, and does it pay a dividend?
GE HealthCare spent $300M on share repurchases over the trailing twelve months, and its diluted share count fell 0.6% over the year.
What is GE HealthCare's market cap?
On November 2, 2026, GE HealthCare's market capitalisation was about $36.2B, with a price-to-earnings ratio of 16.8 and net debt of $7.3B. Market figures come from third-party market data and may be delayed.
Does GE HealthCare pay a dividend?
Yes: GE HealthCare paid $64M in dividends over the trailing twelve months, a dividend yield of 0.18% and a payout ratio of 3.0%.
How much debt does GE HealthCare have?
GE HealthCare's debt-to-equity ratio is 85.9%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are GE HealthCare's competitors?
In our Health Care Equipment peer group, the companies closest to GE HealthCare are Boston Scientific, Koninklijke Philips NV, Stryker Corporation, Medtronic and Baxter International. The side-by-side comparison below sets their revenue, margins and growth against GE HealthCare's.
Are insiders buying or selling GE HealthCare stock?
Over the last 12 months, GE HealthCare's directors and officers reported 8 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is GE HealthCare's next earnings date?
Around January 25, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — GE HealthCare announces its own schedule.