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olivLaw · US equity research

GE HealthCare Technologies Inc. GEHC

X-Ray Apparatus & Tubes & Related Irradiation Apparatus · SIC 3844 · Vertical: Instruments, medical and optical goods (SIC 384x)

85.81USD+6.38% · 1 dayClose 04 Nov 2026

GE HealthCare supplies medical imaging equipment, pharmaceutical diagnostic agents, patient monitoring solutions and AI-enabled software to hospitals and health systems worldwide. The company reported revenues of 20.6 billion dollars in fiscal 2025 and, in the second quarter of 2026, record orders, while its patient monitoring segment remains under pressure and tariffs continue to weigh on costs.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 04 Nov 2026, GE HealthCare Technologies Inc. (GEHC) stock was 85.81 USD (+6.38% on the day), with market capitalisation 38.8 bn USD, P/E 18.1 on diluted EPS of 4.74 USD over the last 12 months, dividend yield 0.17%, beta 1.09, 52-week range 59.49–88.16 USD. Latest reported quarter (Q3 2026): revenue of 5.5 bn USD (+7.2% YoY), net income of 615.0 m USD (+37.9% YoY), diluted EPS 1.36 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
38.8 bn USD
shares as of 21 Oct 2026
P/E (TTM)
18.1
Diluted EPS TTM 4.74 · TTM to 30 Sept 2026
E/P (TTM)
5.52%
TTM to 30 Sept 2026
Dividend yield
0.17%
DPS 12m 0.15
Beta (2y)
1.09
Volatility (1y) 36%
52-week range
59.4988.16

Price history

Loading chart…

Technical reading

RSI (14)
85.2
overbought (≥ 70)
Bollinger (20, 2)
61.80 – 82.67
above the upper band · %B 1.15 · band width 28.9%
SMA 50 / 200
68.91 / 69.83
mixed trend
MACD (12, 26, 9)
3.67 / 2.25
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month+30.5%−1.1%+31.6 pp—
3 months+22.2%−0.5%+22.6 pp—
6 months+39.0%+4.4%+34.6 pp—
Year to date+4.6%+12.3%−7.7 pp—
1 year+15.5%+13.5%+1.9 pp+6.2%
3 years+19.9%+76.4%−56.5 pp+20.0%
5 yearsunavailable+63.7%unavailable—
Max drawdown (1y)
−32.5%
08 Jan 2026 → 29 Apr 2026
Max drawdown (5y)
−37.4%
08 Mar 2024 → 08 Apr 2025
Compound annual growth (5y)
unavailable
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q3 2026 · 30 Sept 2026

Revenue
5.5 bn USD
+7.2% YoY
Net income
615.0 m USD
+37.9% YoY
Diluted EPS
1.36
+38.8% YoY
net / operating
11.2% / 14.6%

Quarterly margins

Quarterly statements · USD

Fiscal yearQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Revenue5.3 bn4.8 bn5.0 bn5.1 bn5.7 bn5.1 bn5.3 bn5.5 bn
Gross profit2.3 bn2.0 bn2.0 bn2.0 bn2.3 bn2.0 bn2.2 bn2.2 bn
Research & development344.0 m344.0 m302.0 m292.0 m323.0 m345.0 m323.0 m320.0 m
SG&A1.1 bn1.0 bn1.0 bn1.0 bn1.1 bn1.1 bn1.1 bn1.1 bn
Operating income801.0 m629.0 m654.0 m653.0 m827.0 m515.0 m739.0 m805.0 m
Interest expense121.0 m110.0 m113.0 m111.0 m105.0 m96.0 m114.0 m122.0 m
Pre-tax income834.0 m692.0 m613.0 m643.0 m821.0 m505.0 m693.0 m752.0 m
Income tax96.0 m104.0 m113.0 m179.0 m219.0 m94.0 m119.0 m129.0 m
Net income721.0 m564.0 m486.0 m446.0 m589.0 m389.0 m561.0 m615.0 m
Diluted EPS1.57 ≈1.231.060.981.29 ≈0.851.241.36
Operating cash flow—250.0 m94.0 m ≈593.0 m ≈—290.0 m168.0 m ≈907.0 m ≈
Capex102.0 m152.0 m86.0 m ≈110.0 m ≈134.0 m178.0 m100.0 m ≈114.0 m ≈
Dividends paid14.0 m16.0 m16.0 m ≈16.0 m ≈16.0 m16.0 m16.0 m ≈16.0 m ≈
Share repurchases00100.0 m ≈100.0 m ≈0100.0 m200.0 m ≈0 ≈

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 56 percentile of its own 16-quarter history (min 13.8, median 18.0, max 26.6; quarters with earnings only).

Fiscal years

Fiscal year20212022202320242025
Revenue17.6 bn18.3 bn19.6 bn19.7 bn20.6 bn
Revenue YoYunavailable+4.3%+6.6%+0.6%+4.8%
Net income2.2 bn1.9 bn1.6 bn2.0 bn2.1 bn
Net income YoYunavailable−14.7%−18.2%+27.1%+4.6%
Diluted EPS4.954.223.034.344.55
Diluted EPS YoYunavailable−14.7%−28.2%+43.2%+4.8%
net %12.8%10.4%8.0%10.1%10.1%
Free cash flowunavailableunavailableunavailableunavailableunavailable

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
4.5 bn USD
Financial debt
10.0 bn USD
Net debt
5.5 bn USD
Equity
10.4 bn USD
Total assets
36.9 bn USD
Debt / equity
0.96x
Current ratio
1.37x
ROE
22.1%
ROA
6.0%
FCF margin
unavailable

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
19.6 bn
2024
19.7 bn
2025
20.6 bn

SEC (XBRL)· 04 Feb 2026verified

Gross profit
2023
7.9 bn
2024
8.2 bn
2025
8.2 bn

SEC (XBRL)· 04 Feb 2026verified

Research & development
2023
1.2 bn
2024
1.3 bn
2025
1.3 bn

SEC (XBRL)· 04 Feb 2026verified

SG&A
2023
4.3 bn
2024
4.3 bn
2025
4.2 bn

SEC (XBRL)· 04 Feb 2026verified

Operating income
2023
2.4 bn
2024
2.6 bn
2025
2.8 bn

SEC (XBRL)· 04 Feb 2026verified

Interest expense
2023
542.0 m
2024
504.0 m
2025
440.0 m

SEC (XBRL)· 04 Feb 2026verified

Pre-tax income
2023
2.4 bn
2024
2.6 bn
2025
2.8 bn

SEC (XBRL)· 04 Feb 2026verified

Income tax
2023
743.0 m
2024
531.0 m
2025
614.0 m

SEC (XBRL)· 04 Feb 2026verified

Net income
2023
1.6 bn
2024
2.0 bn
2025
2.1 bn

SEC (XBRL)· 04 Feb 2026verified

Diluted EPS
2023
3.03
2024
4.34
2025
4.55

SEC (XBRL)· 04 Feb 2026verified

Weighted average diluted shares
2023
458.0 m
2024
459.0 m
2025
458.0 m

SEC (XBRL)· 04 Feb 2026verified

Dividend per share
2023
0.12
2024
0.13
2025
0.14

SEC (XBRL)· 04 Feb 2026verified

Balance sheet · USD

Cash
2023
2.5 bn
2024
2.9 bn
2025
4.5 bn

SEC (XBRL)· 04 Feb 2026verified

Inventories
2023
2.0 bn
2024
1.9 bn
2025
2.2 bn

SEC (XBRL)· 04 Feb 2026verified

Current assets
2023
9.4 bn
2024
9.9 bn
2025
12.5 bn

SEC (XBRL)· 04 Feb 2026verified

Property, plant & equipment, net
2023
2.1 bn
2024
—
2025
—

SEC (XBRL)· 06 Feb 2024verified

Goodwill
2023
12.9 bn
2024
13.1 bn
2025
13.5 bn

SEC (XBRL)· 04 Feb 2026verified

Intangibles (excl. goodwill)
2023
1.3 bn
2024
1.1 bn
2025
1.1 bn

SEC (XBRL)· 04 Feb 2026verified

Total assets
2023
32.5 bn
2024
33.1 bn
2025
36.9 bn

SEC (XBRL)· 04 Feb 2026verified

Accounts payable
2023
2.9 bn
2024
3.0 bn
2025
3.3 bn

SEC (XBRL)· 04 Feb 2026verified

Short-term debt
2023
1.0 bn
2024
1.5 bn
2025
508.0 m

SEC (XBRL)· 04 Feb 2026verified

Long-term debt
2023
8.4 bn
2024
7.4 bn
2025
9.5 bn

SEC (XBRL)· 04 Feb 2026verified

Current liabilities
2023
9.0 bn
2024
9.6 bn
2025
9.1 bn

SEC (XBRL)· 04 Feb 2026verified

Total liabilities
2023
25.1 bn
2024
24.4 bn
2025
26.3 bn

SEC (XBRL)· 04 Feb 2026verified

Equity
2023
7.1 bn
2024
8.5 bn
2025
10.4 bn

SEC (XBRL)· 04 Feb 2026verified

Cash flow · USD

Capex
2023
387.0 m
2024
401.0 m
2025
482.0 m

SEC (XBRL)· 04 Feb 2026verified

Investing cash flow
2023
-558.0 m
2024
-914.0 m
2025
-1.0 bn

SEC (XBRL)· 04 Feb 2026verified

Financing cash flow
2023
-478.0 m
2024
-573.0 m
2025
617.0 m

SEC (XBRL)· 04 Feb 2026verified

Dividends paid
2023
41.0 m
2024
55.0 m
2025
64.0 m

SEC (XBRL)· 04 Feb 2026verified

Share repurchases
2023
0
2024
0
2025
200.0 m

SEC (XBRL)· 04 Feb 2026verified

Computed indicators

Growth

Revenue growth (YoY)
4.8%
computed by olivLawFY 2025
Revenue CAGR 3Y
4.0%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
unavailable
input data missing
EBIT growth (YoY)
5.3%
computed by olivLawFY 2025
Net income growth (YoY)
4.6%
computed by olivLawFY 2025
Net income CAGR 3Y
2.8%
computed by olivLawFY 2022 → FY 2025
Net income CAGR 5Y
unavailable
input data missing
EPS growth (YoY)
4.8%
computed by olivLawFY 2025
EPS CAGR 3Y
2.5%
computed by olivLawFY 2022 → FY 2025
EPS CAGR 5Y
unavailable
input data missing
FCF growth (YoY)
unavailable
input data missing

Profitability

Gross margin
39.9%
computed by olivLawTTM to 30 Sept 2026
EBITDA margin
unavailable
input data missing
EBIT margin
13.3%
computed by olivLawTTM to 30 Sept 2026
Net margin
10.0%
computed by olivLawTTM to 30 Sept 2026
FCF margin
unavailable
input data missing

Returns

ROE
19.9%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
ROA
5.8%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
ROIC
13.1%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
ROCE
9.8%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Payout ratio (EPS)
3.1%
computed by olivLawTTM to 30 Sept 2026
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
7.1 bn USD
computed by olivLawbalance sheet at 30 Sept 2026
Net debt / EBITDA
unavailable
input data missing
Debt / equity
0.9x
computed by olivLawbalance sheet at 30 Sept 2026
Interest coverage
6.6x
computed by olivLawTTM to 30 Sept 2026

Liquidity

Current ratio
1.3x
computed by olivLawbalance sheet at 30 Sept 2026
Quick ratio
1.0x
computed by olivLawbalance sheet at 30 Sept 2026
Cash ratio
0.3x
computed by olivLawbalance sheet at 30 Sept 2026

Cash

Operating cash flow
unavailable
input data missing
Capital expenditure
526.0 m USD
computed by olivLawTTM to 30 Sept 2026
Free cash flow
unavailable
input data missing
FCF conversion
unavailable
input data missing
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
unavailable
input data missing
Days inventory outstanding
unavailable
input data missing
Days payables outstanding
unavailable
input data missing
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
38.8 bn USD
computed by olivLawbalance sheet at 30 Sept 2026
Enterprise value
45.9 bn USD
computed by olivLawbalance sheet at 30 Sept 2026
Market cap / net income TTM
18.0x
computed by olivLawTTM to 30 Sept 2026
P/E (TTM)
18.1x
computed by olivLawTTM to 30 Sept 2026
Earnings yield
5.5%
computed by olivLawTTM to 30 Sept 2026
P/B
3.3x
computed by olivLawbalance sheet at 30 Sept 2026
P/S
1.8x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
EV/EBITDA
unavailable
input data missing
EV/EBIT
15.9x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
EV/Sales
2.1x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
P/FCF
unavailable
input data missing
FCF yield
unavailable
input data missing
Dividend yield
0.2%
computed by olivLawTTM to 30 Sept 2026
Shareholder yield (distributions)
0.9%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Neutral profile

Score: 49 / 100

A scoring methodology on indicators and valuation, not investment advice.

Closing price

85.81 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 38.8 bn USD

Key indicators

Market capitalisation
38.8 bn USD
computed by olivLawbalance sheet at 30 Sept 2026
P/E (TTM)
18.1x
computed by olivLawTTM to 30 Sept 2026
P/B
3.3x
computed by olivLawbalance sheet at 30 Sept 2026
EV/EBITDA
unavailable
input data missing
ROE
19.9%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Net margin
10.0%
computed by olivLawTTM to 30 Sept 2026
Revenue growth (YoY)
4.8%
computed by olivLawFY 2025
Dividend yield
0.2%
computed by olivLawTTM to 30 Sept 2026

Coverage and freshness

30/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 30 Sept 2026
Latest balance sheet date: 30 Sept 2026
Share count (cover of the latest filing), as of: 21 Oct 2026
Source: SEC (XBRL)published 28 Oct 2026
verified 746derived 54

Score by group

  • Balance sheet64
  • Valuation100
  • Quality44
  • Growth25
  • Returns13

Estimated value range

Low
129.51
USD per share
Mid
153.58
USD per share
High
229.61
USD per share
Price: 85.81 USD
The price is below the range
Potential to the central value: 79.0% (value / price − 1)
Margin of safety: 44.1% (1 − price / value)
Agreement between methods: single method · 1 methods used · 1 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 129.51 – 229.61 USD.

Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (USD per share)

— — Mid · ▏ Price

Valuation methods

  • DCF (discounted cash flow)unavailable · input data missing
  • Peers: EV/EBITDAunavailable · input data missing
  • Peers: P/E129.51 – 229.61 (Mid 153.58)
    12 companies used · median multiple 32.4x · quartiles 27.3x – 48.5x
    BDX, BSX, DXCM, EW, ISRG, MDT, MMM, RMD, STE, SYK, WST, ZBH
  • Dividend discount (DDM)outside the aggregate1.84 – 2.47 (Mid 2.11)
    a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
Multiple comparisons use the SIC vertical: Instruments, medical and optical goods (SIC 384x)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Neutral profile · Score 49/100

FactorValueScoreWeight used
ROIC · Quality13.1%60 (vs peers)17%
Net margin · Quality10.0%17 (vs peers)10%
FCF conversion · Qualityunavailableunavailable—
Revenue CAGR 3Y · Growth4.0%33 (on a fixed band)14%
EPS CAGR 3Y · Growth2.5%17 (on a fixed band)14%
Net debt / EBITDA · Balance sheetunavailableunavailable—
Interest coverage · Balance sheet6.6x79 (on a fixed band)10%
Current ratio · Balance sheet1.3x42 (on a fixed band)7%
P/E (TTM) · Valuation18.1x100 (vs peers)17%
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuationunavailableunavailable—
Shareholder yield (distributions) · Returns0.9%13 (on a fixed band)10%
Payout ratio (FCF) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet64/100 · 2/3 factors with a value
  • Growth25/100 · 2/2 factors with a value
  • Quality44/100 · 2/3 factors with a value
  • Returns· partial13/100 · 1/2 factors with a value
  • Valuation· partial100/100 · 1/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

GE HEALTHCARE TECHNOLOGIES INC. (GEHC). Latest full fiscal year: 2025; data up to 2026-09-30.

Figures computed from the financial statements: revenue 20.6 bn USD in 2025; YoY growth 4.8%; net margin 10.0%; ROE 19.9%.

The estimated value range is 129.51–229.61 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 153.58 USD, the price of 85.81 USD leaves a potential of 79.0% (value / price − 1) and a margin of safety of 44.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

olivLaw score 49/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns, valuation. Not investment advice.

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • Interest coverage: 6.6x
  • P/E (TTM): 18.1x
  • The price is below the estimated value range

What contradicts it

  • Net margin: 10.0%
  • EPS CAGR 3Y: 2.5%
  • Shareholder yield (distributions): 0.9%

Not assessed (insufficient data or a ratio without meaning): FCF conversion, Net debt / EBITDA, EV/EBITDA, FCF yield, Payout ratio (FCF).

Versus the vertical median

Instruments, medical and optical goods (SIC 384x) · same industry group (3-digit SIC) · compared with 12 companies

Only companies with a capitalisation between 4.1 bn and 259.9 bn (within 8× of the company's); 156 of the vertical were left out.

Multiples and returns vs the median

P/E
18.1x
vertical median 32.4x
below median (−44.1%)
EV/EBITDA
—
vertical median 15.8x
P/S
1.8x
vertical median 4.5x
below median (−59.8%)
P/B
3.3x
vertical median 5.4x
below median (−38.0%)
ROE
19.9%
vertical median 15.1%
above median (+31.7%)
Net margin
10.0%
vertical median 14.7%
below median (−32.1%)
EBIT margin
13.3%
vertical median 19.8%
below median (−32.6%)
Revenue YoY
4.8%
vertical median 9.3%
below median (−47.9%)
Net debt/EBITDA
—
vertical median 0.5x
Dividend yield
0.2%
vertical median 1.0%
below median (−83.6%)

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
ISRGIntuitive Surgical, Inc.167.1 bn58.318.0%25.5%+20.5%−16% / +55%
MDTMedtronic plc134.3 bn25.810.7%13.9%+8.4%−0% / +32%
SYKStryker Corp129.3 bn36.216.0%13.8%+11.2%−8% / +15%
MMM3m Company100.2 bn28.980.8%14.0%+1.5%+13% / +134%
BSXBoston Scientific Corporation66.4 bn19.414.3%16.6%+19.9%−55% / −18%
EWEdwards Lifesciences Corporation57.1 bn56.29.7%15.3%+11.5%+15% / +47%
BDXBecton, Dickinson And Company57.0 bn63.23.8%4.0%+8.2%+37% / +13%
GEHCGe Healthcare Technologies Inc.38.8 bn18.119.9%10.0%+4.8%+15% / +20%
RMDResMed Inc.33.8 bn21.926.4%27.8%+9.9%−6% / +52%
DXCMDexcom, Inc.33.0 bn34.837.7%19.4%+15.6%+39% / −23%
WSTWest Pharmaceutical Services, Inc.28.5 bn45.921.2%18.8%+6.3%+47% / +17%
STESTERIS plc24.2 bn30.011.4%13.3%+8.7%−7% / +23%
ZBHZimmer Biomet Holdings, Inc.20.8 bn27.96.0%9.0%+7.2%+13% / −5%

1- and 3-year price returns: for GEHC from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
50.76
Total return -41% · Per year -41%
89.76
Total return 5% · Per year 5%
135.24
Total return 58% · Per year 58%
3 years
48.76
Total return -43% · Per year -17%
97.07
Total return 14% · Per year 4%
160.64
Total return 88% · Per year 23%
5 years
46.84
Total return -45% · Per year -11%
104.97
Total return 23% · Per year 4%
190.82
Total return 124% · Per year 17%
What moves the 3-year price the most
  • Exit P/E± 24.27
  • Net margin± 16.99
  • Annual revenue growth± 14.01
  • Annual dilution± 1.43

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 29 Jul 2026; since then the company filed 8-K (28 Oct 2026 · results), 10-Q (28 Oct 2026).

In brief

GE HealthCare supplies medical imaging equipment, pharmaceutical diagnostic agents, patient monitoring solutions and AI-enabled software to hospitals and health systems worldwide. The company reported revenues of 20.6 billion dollars in fiscal 2025 and, in the second quarter of 2026, record orders, while its patient monitoring segment remains under pressure and tariffs continue to weigh on costs.

SWOT

Strengths

  • A broad portfolio spanning equipment and pharmaceutical agents allows integrated solutions for customers 1.
  • Record orders and backlog in the second quarter of 2026 provide visibility into future revenue 3.
  • Global presence across more than a hundred countries and an extensive field service network 1.

Weaknesses

  • Patient Care Solutions is shrinking and loss-making, which weighs on overall results 3.
  • Margins are under pressure from production costs and tariffs, and the company does not expect mitigation to fully offset the impact 12.
  • Financial debt is significant, which limits flexibility in case of economic shocks 2.

Opportunities

  • Growing demand for nuclear medicine and radiopharmaceuticals could support the pharmaceutical segment over the long term 3.
  • AI-enabled software and cloud solutions can generate recurring revenue and expand addressable markets 13.
  • Tariff refunds recognized in 2026 could improve profitability if recoveries are confirmed 23.

Threats

  • Trade tariffs and geopolitical tensions could raise costs and disrupt supply chains 12.
  • Local competition in China and volume based procurement could reduce prices and market share 12.
  • Right-to-repair legislation could favor independent service organizations and reduce service revenue 1.

Risks

  • Tariffs and international tradehigh

    Tariffs imposed by the United States and other countries could continue to weigh on profitability, and mitigation actions are not expected to fully offset the costs 12.

  • Competition in Chinahigh

    Local companies and volume based procurement could reduce orders and revenue in this region 12.

  • Patient Care Solutionsmedium

    Revenue decline and losses in this segment could persist if recovery does not materialize, and management is reviewing strategic options 3.

  • Component cost inflationmedium

    Costs for memory chips, oil and freight could exceed current estimates 3.

  • Debt and pension obligationslow

    Financial debt and postretirement obligations could limit financial flexibility if actual costs exceed estimates 12.

Investment thesis

What would need to be true (bull case)

  • Record orders and backlog point to solid demand, and the Pharmaceutical Diagnostics and Advanced Imaging Solutions segments are growing well 3.
  • The reaffirmed 2026 guidance suggests management expects earnings per share growth through the year 3.
  • The combined portfolio of equipment, software and pharmaceutical agents could generate recurring revenue and a strong position in personalized medicine 1.

What would break the thesis

  • Tariffs and component costs have reduced margins, and recovery of tariff refunds remains uncertain 23.
  • Patient monitoring is shrinking and loss-making, which could weigh on overall performance if it does not recover 3.
  • Competition in China and geopolitical pressures could limit growth in important regions for the company 12.

What to watch

  • Decision on strategic options for Patient Care Solutions2026
  • Final amount of IEEPA tariff refunds and any further recoveries2026

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 29 Jul 2026; since then the company filed 8-K (28 Oct 2026 · results), 10-Q (28 Oct 2026).

The business

GE HealthCare Technologies Inc., headquartered in Chicago, was spun off from General Electric on January 3, 2023, and in fiscal 2025 operated four reportable segments: Imaging, Advanced Visualization Solutions, Patient Care Solutions and Pharmaceutical Diagnostics 1. Revenue comes from medical devices, consumables, services and cloud and AI-enabled software, with customers including hospitals, health systems and research institutions 1. The company says its revenues, operating profits and cash flows vary from quarter to quarter, with the fourth quarter historically the strongest 1.

Trends

  • Tariffsmixed

    Tariffs imposed by the United States and other countries reduced operating income and cash flows, and in 2026 the company recognized refunds of tariffs under IEEPA. Recovery depends on administrative processing and legal developments, so the final effect remains uncertain 23.

  • Demand for advanced solutionstailwind

    Organic orders grew 11.1% in the second quarter of 2026 and the book-to-bill ratio was 1.15, which points to solid demand for new equipment and solutions 3.

  • Pressure in Chinaheadwind

    Volume based procurement and competition from local companies have reduced orders and revenue in China, and this could continue 12. The company says local investments could help over the long term.

Competitive position

The company names Siemens Healthineers, Philips Healthcare, United Imaging, Mindray and Canon as primary global competitors, and in pharmaceutical diagnostics it competes with Bayer, Bracco, Guerbet and Curium 1. Competition centers on value, quality, safety, delivery speed, service, innovation and brand reputation 1.

Pressure also comes from independent service organizations seeking access to original manufacturer tools and parts, and right-to-repair legislation could strengthen their position 1. The company also faces local competitors in China that can offer lower prices 12.

  • Siemens Healthineers

    Global competitor in imaging and medical equipment, named as a primary competitor in the annual report.

  • Philips Healthcare

    Global competitor in imaging and monitoring, named as a primary competitor.

  • United Imaging

    Regional manufacturer gaining share, especially in China, named in the report.

  • Bracco

    Competitor in contrast diagnostic agents, named in the pharmaceutical segment discussion.

News & filings

In the press

The latest news item in our archive is from 22 Sept 2026; the newest SEC filing is from 28 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.

SEC filings

  • Quarterly report28 Oct 2026
  • Current report28 Oct 2026
    Results of operations · Departure or appointment of officers · Financial statements and exhibits
  • Current report22 Sept 2026
    Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
  • Current report18 Aug 2026
    Departure or appointment of officers · Financial statements and exhibits
  • Current report29 Jul 2026
    Regulation FD disclosure · Financial statements and exhibits
  • Quarterly report29 Jul 2026
  • Current report29 Jul 2026
    Results of operations · Financial statements and exhibits
  • Current report23 Jul 2026
    Results of operations · Departure or appointment of officers · Financial statements and exhibits
  • Current report11 May 2026
    Shareholder vote · Other events
  • Quarterly report29 Apr 2026

Sources

  1. [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / GE HealthCare Technologies Inc. · 04 Feb 2026
  2. [2] Form 10-Q, quarter ended 2026-06-30 · SEC / GE HealthCare Technologies Inc. · 29 Jul 2026
  3. [3] Form 8-K, results release (exhibit 99.1) · SEC / GE HealthCare Technologies Inc. · 29 Jul 2026

Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.