One-glance verdict
Within fair range
$85.22 our estimate vs market $76.57
Wall Street consensus: $87.50 (2.7% higher than our fair-value estimate)
10% below our estimate
Fundamentals snapshot
GE HealthCare Technologies Inc.
GEHC · NMS · Healthcare · Medical Devices
Current price
$76.57
52-week range
$58.75 - $89.77
Market cap
$34.62B
Balance sheet
Watch
6.28x Adequate
Net debt $7.58B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
0 Risks
3 rewards · 0 risks
- Reward Revenue grew 4.9% last year.
- Reward Returns 20.0% on equity, ahead of 50% of its peers.
- Reward Free cash flow was positive in 5/10 years.
What this company does
GE HealthCare Technologies Inc.
GE HealthCare Technologies makes machines and tools doctors use to see inside the body and monitor patients, like MRI scanners and ultrasound devices. Their money primarily comes from selling these advanced medical devices and the ongoing services and supplies needed to keep them running smoothly. This is important because it means they have a steady stream of income, not just from the initial sale but also from repeat business.
How the company got here
GE HealthCare Technologies Inc. was once a division of the much larger General Electric (GE) conglomerate. In a significant move to unlock value and allow each business to focus, GE spun off its healthcare division into a separate, publicly traded company in early 2023. This separation allows GE HealthCare to operate with more agility and tailor its strategies specifically to the dynamic healthcare market, building on a long history of innovation within GE. The company was incorporated in 2022 and is headquartered in Chicago, Illinois.
What it actually does
GE HealthCare designs, builds, and sells a wide range of medical equipment and technologies used by doctors and hospitals. Think of the big machines you see in hospitals for scanning your body, like MRI or CT scanners, and also the smaller devices used for monitoring patients or assisting in surgeries. They also provide the special "dyes" (contrast agents) that help doctors see clearer images during scans, and digital tools to help manage patient data and improve care. Essentially, they provide the tools that help healthcare professionals diagnose, treat, and keep an eye on patients' health.
Imaging
This is GE HealthCare's largest business, focusing on the big machines that create detailed pictures of the inside of the body. This includes technologies like MRI (Magnetic Resonance Imaging), CT (Computed Tomography) scanners, and X-ray machines, which help doctors find problems like tumors or broken bones. They also offer molecular imaging, which uses special radioactive tracers to see how organs are functioning, and equipment specifically for women's health. This segment is crucial for diagnosing a vast array of medical conditions.
Advanced Visualization Solutions (AVS)
The Advanced Visualization Solutions segment provides tools that help doctors see and interact with medical images in more sophisticated ways, often during procedures. This includes advanced ultrasound machines used for everything from routine check-ups to complex heart surgeries, and technologies that guide surgeons' instruments during minimally invasive operations. These solutions aim to improve the precision and effectiveness of treatments by offering real-time visual feedback to clinicians.
Patient Care Solutions (PCS)
This segment is focused on the equipment and supplies used directly in patient care and monitoring within hospitals. It encompasses devices that track a patient's vital signs like heart rate and blood pressure, as well as essential medical consumables used during treatments. PCS also includes digital solutions that help manage patient information and anesthesia-related products, ensuring that critical care settings have the necessary tools for continuous patient management and safety.
Pharmaceutical Diagnostics (PDx)
The Pharmaceutical Diagnostics segment is responsible for developing and supplying the special agents, often called contrast media, that are injected into patients before certain imaging scans. These agents make it easier for machines like CT and MRI scanners to highlight specific tissues or abnormalities, leading to more accurate diagnoses. This segment also includes molecular imaging agents used in nuclear medicine, helping to visualize and assess the function of organs and tissues at a cellular level.
What management is betting on now
GE HealthCare's leadership is focused on integrating artificial intelligence (AI) into its products to enhance diagnostic capabilities and streamline workflows for clinicians. They are also prioritizing the expansion of their pharmaceutical diagnostics business, particularly in molecular imaging, which offers significant growth potential. Another key strategy is to drive innovation in areas like ultrasound and patient monitoring, aiming to provide more comprehensive and connected solutions across the healthcare spectrum. The company is also investing in digital solutions to improve efficiency and patient outcomes.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$811.00M
FY2025 Q1
$98.00M
FY2025 Q2
$8.00M
FY2025 Q3
$483.00M
FY2025 Q4
$916.00M
FY2026 Q1
$112.00M
FY2026 Q2
$68.00M
FY2026 Q3
$793.00M
Revenue
$5.51B
Net income
$615.00M
Diluted EPS
1.36
Operating cash flow
$907.00M
Free cash flow
$793.00M
Fetching…
Sources
Revenue
$5.29B
Net income
$561.00M
Diluted EPS
1.24
Operating cash flow
$168.00M
Free cash flow
$68.00M
Fetching…
Sources
Revenue
$5.13B
Net income
$389.00M
Diluted EPS
0.85
Operating cash flow
$290.00M
Free cash flow
$112.00M
Fetching…
Sources
Revenue
$5.70B
Net income
$588.00M
Diluted EPS
1.28
Operating cash flow
$1.05B
Free cash flow
$916.00M
Fetching…
Sources
Revenue
$5.14B
Net income
$446.00M
Diluted EPS
0.98
Operating cash flow
$593.00M
Free cash flow
$483.00M
Fetching…
Sources
Revenue
$5.01B
Net income
$486.00M
Diluted EPS
1.06
Operating cash flow
$94.00M
Free cash flow
$8.00M
Fetching…
Sources
Revenue
$4.78B
Net income
$564.00M
Diluted EPS
1.23
Operating cash flow
$250.00M
Free cash flow
$98.00M
Fetching…
Sources
Revenue
$5.32B
Net income
$721.00M
Diluted EPS
1.58
Operating cash flow
$913.00M
Free cash flow
$811.00M
Fetching…
Sources
Is it cheap or expensive?
Fair value $85.22 vs current price $76.57
Wall Street consensus is the average analyst price target: $87.50 (2.7% higher than our fair-value estimate).
Our most-likely fair value is $85.22 a share — about 11.3% away from today's price of $76.57, so the stock currently looks fairly priced.
Is it drowning in debt?
Watch
Net debt $7.6B. Interest coverage 6.3x.
Net debt
$7.58B
Interest coverage
6.28x
GE HealthCare Technologies Inc.'s profit covers its interest bill about 6.3 times over. which is stronger than every peer shown here.
Watch
Worse cushion
Baseline
Better cushion
GEHC
BASELINE
GE HealthCare Technologies Inc.
Total debt $10.41B Interest coverage 6.28x This is the baseline the peer rows are being compared against.
Total debt $16.78B Interest coverage 5.90x -6% vs GEHC Has roughly the same debt cushion as GEHC.
What you should know
The case for and against GEHC
3 Rewards
0 Risks
Rewards
-
Revenue grew 4.9% last year.
-
Returns 20.0% on equity, ahead of 50% of its peers.
-
Free cash flow was positive in 5/10 years.
Risks
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
16.19x
Forward P/E
13.97x
P/B
2.98x
P/S
1.60x
EV/EBITDA
11.80x
PEG ratio
2.06x
Profitability
How much profit each dollar creates
Gross margin
39.3%
Operating margin
15.3%
Net margin
10.0%
ROE
20.0%
ROA
5.0%
Health
Liquidity and balance-sheet strength
Debt / equity
0.88x
Current ratio
1.30x
Quick ratio
0.88x
Total debt
$10.41B
Total cash
$2.83B
Growth
How the business has been compounding
Revenue TTM
$21.64B
Revenue 5Y CAGR
4.1%
EPS TTM
4.73
EPS 5Y CAGR
-0.6%
Cash flow
How much cash the business throws off
Operating CF TTM
$2.42B
Free CF TTM
$1.50B
FCF margin
7.0%
Dividend
Shareholder payout
Yield
0.2%
Payout ratio
3.0%
Last ex-div date
2026-10-23