GE HealthCare Technologies Inc.GEHC
NasdaqGS•Healthcare•Medical Devices
GE HealthCare Technologies Inc. engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Advanced Visualization Solutions (AVS), Patient Care Solutions (PCS), and Pharmaceutical Diagnostics (PDx). The Imaging segment offers molecular imaging, computed tomography (CT) scanning, magnetic resonance (MR) imaging, X-ray systems, and women's health products. The AVS segment provides ultrasound, image guided therapies, and interventional solutions for screening, diagnosis, treatment, and monitoring of certain diseases in clinical areas, such as women's health, cardiovascular, and comprehensive care ultrasound as well as surgical visualization and guidance products. The PCS segment provides medical devices, consumables, services, and digital solutions. Its portfolio includes patient monitoring, diagnostic cardiology, consumables and services, digital solutions, maternal infant care, and anesthesia products. The PDx segment supplies diagnostic agents, including CT, angiography and X-ray, MR, single-photon emission computed tomography, and positron emission tomography to the radiology and nuclear medicine industries. The segment also provides contrast media pharmaceuticals that are administered to a patient prior to certain diagnostic scans to increase the visibility of tissues or structures during imaging exams; and molecular imaging agents or radiopharmaceuticals, which are molecular tracers labeled with radioisotopes. The company has a strategic collaboration with DeepHealth. GE HealthCare Technologies Inc. was formerly known as GE Healthcare Holding LLC and changed its name to GE HealthCare Technologies Inc. in December 2022. The company was incorporated in 2022 and is headquartered in Chicago, Illinois.
GE HealthCare Technologies Inc. (GEHC) reported trailing twelve months revenue of $19.95B as of March 2026, a 0.8% increase year-over-year. Quarterly revenue reached $5.13B, reflecting continued top-line momentum.
GE HealthCare Technologies Inc. generated $1.50B in TTM net income, with quarterly EBITDA of $530.00M. The operating margin contracted from 13.2% to 10.0%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (10.0%) and net margin (7.6%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 11.8% a year ago, reflecting increased costs or interest expense.
GEHC trades at a P/E of 20.9x (in line with broad market averages) and a P/S of 1.6x. The price-to-book ratio of 2.9x reflects a moderate premium to book value.
The company generated $112.00M in free cash flow over the trailing twelve months, a 14.3% increase year-over-year, indicating cash generation ability. The balance sheet shows $37.13B in total assets with $10.13B in long-term debt against $10.67B in stockholders equity for a debt-to-equity ratio of 0.9. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~13.1% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE averages 20.4% but has fluctuated — the competitive advantage may be cyclical or emerging.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
Revenue shows resilience with 6 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 21 quarters
Operating margins declined 8.6% — watch for continued compression, which may signal competitive or cost pressure.
FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.
Debt-to-equity has risen 29.1% recently — increasing financial risk even if the current ratio is manageable.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.