GEHC
GE HealthCare Technologies Inc.
Healthcare • CIK: 0001932393
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Market Cap
$34.28B
P/E (TTM)
15.5x
Rev Growth (TTM)
+3.5%
Net Margin (TTM)
11.0%
FCF Yield (TTM)
-1.3%
FCF Margin (TTM)
-2.2%
Cash Flow Health
Free Cash Flow3/8 positive
TTM$-450M
Q3 '25
$-110M-1475%
Q2 '25
$8M-92%
FCF Margin
TTM-2.2%
Q3 '25-2.1%-1439%
Sector: 5.8%Below Avg
OCF Margin–
OCF/NI–
CapEx Coverage–
FCF Yield-1.3%
FCF Growth (2Y)–
Cash Conversion Cycle
65 days
DSO: 65+DIO: –−DPO: –
Capital Allocation & Returns
Accumulating Cash
Total Shareholder YieldEst.
Est.0.2%
Div Yield0.2%
Limited capital returns
Dividend & Payout Metrics
Dividend Yield (TTM)0.2%
Free Cash Flow (TTM)$-450.0M
Capital Return / FCF-13.8%
Est. Dividends Paid (TTM)$63.9M
Estimated: Buyback data estimated from FCF. Actual repurchase data not available for this company.
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
13.3%
Stable
+0.1% YoY-1.8%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
11.1%
8Q: 9.9%
Asset Turnover
0.59x
8Q: 0.59x
Leverage (1+D/E)
2.23x
D/E: 1.23x
DuPont: 14.6% ≈ 13.3% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
2.30x
8Q:2.32x
-185.4%
Invested Cap Turn
1.20x
8Q:1.25x
-25.7%
CapEx Intensity
2.7%
8Q:2.5%
CapEx/Depreciation
1.62x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $20.2B | $5.1B↑2.7% | $5.0B↑4.8% | $4.8B↓10.2% | $5.3B↑9.4% | $4.9B↑0.5% | $4.8B↑4.1% | $4.7B↓10.7% | $5.2B |
Operating Income | $2.7B | $653.0M↓0.2% | $654.0M↑4.0% | $629.0M↓21.5% | $801.0M↑18.5% | $676.0M↑11.2% | $608.0M↑12.6% | $540.0M↓21.6% | $689.0M |
Net Income | $2.2B | $446.0M↓8.2% | $486.0M↓13.8% | $564.0M↓21.8% | $721.0M↑53.4% | $470.0M↑9.8% | $428.0M↑14.4% | $374.0M↓7.2% | $403.0M |
Operating Cash Flow | N/A | $94.0M↓62.4% | $250.0M↑310.1% | $-119.0M↓128.4% | $419.0M↓35.5% | $650.0M↑1070.1% | $-67.0M↓114.3% | $468.0M | N/A |
Free Cash Flow | $-450.0M | $-110.0M↓1475.0% | $8.0M↓91.8% | $98.0M↑196.1% | $-102.0M↓13.3% | $-90.0M↑50.8% | $-183.0M↓166.8% | $274.0M↑391.5% | $-94.0M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
15.5x
Valuation Lenses
Earnings
15.5x
vs – sector
Cash Flow
-98.7x
EV/FCF vs –
Growth-Adj
0.5xPEG
Undervalued for growth
Quality-Adj
1.2P/E per %ROIC
ROIC: 13.3%
Shareholder Returns
Dividend
0.2%
Buyback
–
Total Yield
0.2%
Market Cap$34.28B
EV–
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
94/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 25%
24.3%
8Q:–
Return on Invested Capital (ROIC)Top 25%
13.3%
8Q:–
Flat
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 11.1%
Asset Turnover: 0.59x
Earnings Quality
Cash Conversion
–
OCF / Net Income
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin40.8%
Capital Efficiency
Invested Capital Turnover1.20x
Working Capital
Cash Conversion Cycle65 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
54/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
3.5%
OpInc Growth YoY
-3.4%
EPS Growth YoY
33.0%
FCF 3Y CAGR
N/A
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
40.8%
Operating
13.5%
Above Avg in sector
Net
11.0%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-13.2 pts
FCF: -2.2% | Net: 11.0%
FCF margin lags net margin by 13.2 pts
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Leveraged
Net Debt / EBITDA
–Net Debt: $8.25B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
1.23x
Balance sheet risk & solvency analysis