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GE HealthCare key statistics and ratios

In fiscal 2025, GE HealthCare had return on equity of 22.1%, an operating margin of 13.4%, debt equal to 101.3% of equity and a current ratio of 1.37. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Fiscal year2021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Gross margin40.8%39.1%40.5%41.7%40.0%39.9%
Operating margin15.9%13.8%12.5%13.3%13.4%13.3%
Net margin12.8%10.4%8.0%10.1%10.1%10.0%
Free-cash-flow margin7.7%9.9%8.8%7.9%7.3%8.7%
Return on equity13.5%14.7%19.0%25.6%22.1%19.6%
Return on assets—7.0%5.2%6.1%6.0%5.7%
Asset turnover—0.670.650.600.590.57
Current ratio—1.161.051.041.371.30
Debt to equity0.0%88.7%146.5%123.8%101.3%87.5%
Effective tax rate20.9%22.4%31.5%20.6%22.2%20.2%
R&D as % of revenue4.6%5.6%6.2%6.7%6.1%6.1%
SG&A as % of revenue20.3%19.8%21.9%21.7%20.5%20.5%
Capital spending as % of revenue1.4%1.7%2.0%2.0%2.3%2.4%
Free cash flow ÷ net income60.5%95.2%109.3%78.0%72.2%87.7%
Dividends ÷ net income0.0%0.0%2.6%2.8%3.1%3.0%
Dividends and buybacks ÷ free cash flow0.0%0.0%2.4%3.5%17.5%19.3%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

Compare with peers

Head to head: BSX vs GEHCGEHC vs PHGGEHC vs SYKGEHC vs MDT

More: Health Care Equipment stocks compared, Health Care sector, rankings of US companies

Figures from GE HealthCare's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to GE HealthCare.