Health Care · Health Care Equipment · US stock · price as of 16 Oct 2026
Key indicators
Price
$69.57
52-week range
$58.72 – $89.64
Market cap
$31.8B
P/E (trailing)
16.7×
EV / EBITDA
15.0×
Free-cash-flow yield
–
Dividend yield
0.2%
Revenue (last 12 months)
$21.0B
Revenue growth (3y a year)
4.0%
Operating margin
12.6%
Return on invested capital
10.7%
Net debt / EBITDA
3.1×
Fair value
Blended fair value$104.95 range $101 – $109
Versus priceUndervalued+51% to fair value
Peer multiples
$118.18
Fundamentals-adjusted multiple
$122.09
10-year DCF (market-scaled)
$74.60
Earnings power value (floor, not blended)
$38.77
Model uncertainty
Medium
X-Ray Score
49/ 100 · Medium confidence · ahead of 43% of sector peers
Valuation84
Growth38
Profitability46
Financial health38
Dividends17
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Hospitals and clinics use medical imaging machines, patient monitoring equipment and diagnostic agents from GE HealthCare. Its products include MRI, CT, X-ray and ultrasound systems, along with contrast agents, radiopharmaceuticals, and digital software and services that help clinicians interpret images and manage care. The company was separated from General Electric and is organised into imaging, advanced visualisation, patient care and pharmaceutical diagnostics businesses.
Revenue comes from equipment, from service contracts that support installed machines, and from recurring supplies such as contrast agents. Sales were $21.0 billion over the last twelve months, rising 4.0% a year over the last three years. The operating margin is 12.6%, and the business earns a profit of 11% on the capital invested in it. Net debt is 3.1 times EBITDA. It pays a dividend with a yield of 0.2%.
StocksXray gives GE HealthCare Technologies Inc. an X-Ray Score of 49 out of 100 (medium confidence), ahead of 43% of the S&P 500 stocks in its sector. Its strongest lens is valuation (84) and its weakest is dividends (17).
Our fair value blend is $104.95 (range $100.60 to $109.30). At $69.57 the stock trades 34% below that blend, so the label is "Undervalued" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
GE HealthCare Technologies Inc. (GEHC)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
–
$58.03
$76.95
$77.92
$81.90
$69.57
Market cap
–
$26.3B
$35.2B
$35.8B
$37.5B
$31.8B
P/E
–
13.8×
25.4×
18.0×
18.0×
16.7×
EV / revenue
–
1.8×
2.2×
2.2×
2.1×
1.9×
EV / EBITDA
–
13.2×
17.7×
16.5×
15.8×
15.0×
Price / free cash flow
–
–
–
–
–
–
Free-cash-flow yield
–
–
–
–
–
–
Price / book
–
2.8×
4.9×
4.2×
3.6×
3.0×
Dividend yield
–
–
0.16%
0.16%
0.17%
0.20%
Fundamentals checklist ● 3 Good · ● 5 Average · ● 5 Bad · each check graded against the sector
Risk models
Altman Z score1.7×Bad
Piotroski F-Score5 of 9Bad
Growth
EPS growth (3y)2.5%Average
Revenue growth (3y)4.0%Average
Growth consistency90%Average
Balance sheet
Current ratio1.2×Bad
Net debt / EBITDA3.1×Bad
Interest coverno interest costGood
Valuation
Fair value vs price1.5×Good
EBIT / EV yield6.6%Good
Profitability
Return on invested capital10.7%Average
Operating margin12.6%Average
Gross profitability22.1%Bad
XStocksXray
GE HealthCare Technologies Inc. (GEHC)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
17,585
18,341
19,552
19,672
20,625
20,979
Gross profit
7,174
7,179
7,922
8,205
8,248
8,213
Operating income
2,795
2,522
2,435
2,625
2,763
2,649
Net income
2,247
1,916
1,568
1,993
2,084
1,910
Diluted EPS ($)
4.95
4.22
3.03
4.34
4.55
4.17
Free cash flow
–
–
–
–
–
–
Gross margin
40.8%
39.1%
40.5%
41.7%
40.0%
39.1%
Operating margin
15.9%
13.8%
12.5%
13.3%
13.4%
12.6%
Net margin
12.8%
10.4%
8.0%
10.1%
10.1%
9.1%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
–
27,539
32,454
33,089
36,906
37,125
Cash
561
1,440
2,494
2,874
4,492
2,261
Total debt
–
8,256
10,444
10,451
10,505
10,136
Equity
16,676
9,357
7,133
8,446
10,379
10,668
Dividend per share ($)
–
–
0.12
0.13
0.14
0.14
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.