Company file · GEHC

GE HealthCare

PDx was GE HealthCare's fastest-growing segment in FY2025, up 15.6%

Revenue rose 4.8% to $20.6B in FY2025, from $19.7B in FY2024. Net income rose 4.6% to $2.1B. Imaging was the largest segment, at 45% of revenue.

Prepared from SEC filings · Latest annual report: 10-K for FY2025 (filed Feb 4, 2026) · Latest quarter: 10-Q for the quarter ended Sep 30, 2026 (filed Oct 28, 2026) · Data pulled Nov 11, 2026

Key facts

GE HealthCare (Nasdaq: GEHC) reported revenue of $20.6B for fiscal 2025, the year ended Dec 31, 2025, up 4.8% from fiscal 2024. Net income was $2.1B, up 4.6%. In its latest 10-Q, for the quarter ended Sep 30, 2026, revenue was $5.5B, up 7.2% from the same quarter a year earlier, and net income was $615M. The largest piece by segment was Imaging, at 45% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Feb 4, 2026) and 10-Q for the quarter ended Sep 30, 2026 (filed Oct 28, 2026).

Revenue$20.6BFY2025 · +4.8% vs FY2024

Net income$2.1BFY2025 · +4.6% vs FY2024

Cash & equivalents$2.8Bat Sep 30, 2026 · −37.1% vs FY2025 end

Total debt$10.0Bat Sep 30, 2026 · −5.0% vs FY2025 end

Diluted shares458MFY2025 avg · −0.2% vs FY2024

Revenue and net income, three fiscal yearsBy fiscal year, $bn

RevenueNet income

Source: 10-K FY2025, filed Feb 4, 2026

Quarterly revenue: fiscal 2026 vs a year earlierFiscal Q1–Q3, $bn (each quarter from that quarter's 10-Q)

FY2025FY2026

Source: 10-Q filed Apr 29, 2026 · 10-Q filed Jul 29, 2026 · 10-Q filed Oct 28, 2026

How it makes money

By segment, FY2025

LineAmountSharevs FY2024
Imaging$9.2B45%+4.4%
AVS$5.4B26%+4.3%
PCS$3.1B15%−1.2%
PDx$2.9B14%+15.6%

Source: 10-K FY2025, XBRL breakdown

By segment in FY2025: Imaging (45%), AVS (26%), PCS (15%) and PDx (14%), as shares of total revenue. Total revenue was $20.6B.

By segment: three-year mixShare of the total each fiscal year

FY2023

46%26%16%12%

FY2024

45%26%16%13%

FY2025

45%26%15%14%

ImagingAVSPCSPDx

Source: 10-K FY2025

By product or service, FY2025

Products$13.7B66%+4.5%

Services$7.0B34%+5.6%

Share is of the FY2025 total; the last column is the change from FY2024.

Learn more: Revenue vs. net income · Gross, operating and net margin

What changed last quarter

How the quarter compared with a year earlier

Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)

Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.

Q3 2026Q3 2025

Company

Revenue

$5.5B Q3 2026

$5.1B Q3 2025

7.2% increase

Net income

$615M Q3 2026

$446M Q3 2025

37.9% increase

Source: GE HealthCare 10-Q for the quarter ended Sep 30, 2026, filed Oct 28, 2026

By segment

PDx

$846M Q3 2026

$749M Q3 2025

13.0% increase

PCS

$793M Q3 2026

$731M Q3 2025

8.5% increase

Source: GE HealthCare 10-Q for the quarter ended Sep 30, 2026, filed Oct 28, 2026

Cash & equivalents $2.8B at Sep 30, 2026, vs $4.5B at FY2025 end.
Total debt $10.0B at Sep 30, 2026, vs $10.5B at FY2025 end.

The bull case and the bear case

The bull case

Revenue rose 4.8% in FY2025 to $20.6B, from $19.7B a year earlier. 10-K, FY2025
Net income rose 4.6% in FY2025 to $2.1B, from $2.0B. 10-K, FY2025
Revenue in the quarter ended Sep 30, 2026 was $5.5B, up 7.2% on a year earlier. 10-Q, quarter ended Sep 30, 2026
Net income in the quarter ended Sep 30, 2026 was $615M, up 37.9% on a year earlier. 10-Q, quarter ended Sep 30, 2026

The bear case

PCS revenue fell 1.2% in FY2025 to $3.1B. 10-K, FY2025
The company's own risk factors are in Item 1A of its 10-K. Risks common in this industry include regulation; pricing and reimbursement; competition. 10-K, Item 1A

What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.

What the company does

GE HealthCare is in the health care equipment industry, part of the health care sector. The SEC files it under X-Ray Apparatus & Tubes & Related Irradiation Apparatus.

GE HealthCare reports 4 segments: Imaging, AVS, PCS and PDx.

Its fiscal year ends in December; the latest, FY2025, ended Dec 31, 2025.

Source: 10-K, Item 1 Business

Risks common in this industry

These are general risks for companies in the health care equipment industry. They are not a summary of GE HealthCare’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.

RegulationApprovals, safety rules and government oversight shape what it can sell and how.
Pricing and reimbursementPayers, insurers and governments influence what it can charge.
CompetitionNew treatments, generics and rival products can take share.
LitigationProduct liability and other legal claims can lead to costs.
SupplyManufacturing and supplier problems can interrupt products.

Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)

Three years of key numbers

Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.

US$	FY2023	FY2024	FY2025
Revenue	$19.6B	$19.7B	$20.6B
Net income	$1.6B	$2.0B	$2.1B
Cash & equivalents (year end)	$2.5B	$2.9B	$4.5B
Total debt (year end)	$10.4B	$10.5B	$10.5B
Diluted shares	458M	459M	458M

Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
Total debt: Short-term borrowings and the current part of long-term debt plus long-term debt, at carrying value.
Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.

Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator

Explainers for this page

Plain-English guides to terms this file uses, with real numbers from filings.

About these numbers

What we left out

Operating cash flow: the company's filing data doesn't carry it for all the years shown, so it isn't shown.

Recent filings

Form	Filed	Period
10-Q	Oct 28, 2026	Sep 30, 2026
10-Q	Jul 29, 2026	Jun 30, 2026
10-Q	Apr 29, 2026	Mar 31, 2026
DEF 14A	Mar 19, 2026	May 7, 2026
10-K	Feb 4, 2026	Dec 31, 2025

Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters

Common questions about GE HealthCare

How does GE HealthCare make money?

GE HealthCare's revenue was $20.6B in fiscal 2025. By segment in FY2025: Imaging (45%), AVS (26%), PCS (15%) and PDx (14%), as shares of total revenue. Total revenue was $20.6B. Source: 10-K for fiscal 2025, filed Feb 4, 2026.

What was GE HealthCare's revenue in fiscal 2025?

$20.6B of revenue for the fiscal year ended Dec 31, 2025, up 4.8% from $19.7B in fiscal 2024. Fiscal 2023 was $19.6B. Source: 10-K for fiscal 2025, filed Feb 4, 2026.

Is GE HealthCare profitable?

GE HealthCare reported net income of $2.1B for fiscal 2025, up 4.6% from $2.0B in fiscal 2024. That is a profit under US accounting rules (GAAP). In the quarter ended Sep 30, 2026, net income was $615M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 4, 2026.

What did GE HealthCare report in its latest quarterly filing?

Revenue was $5.5B in the quarter ended Sep 30, 2026, up 7.2% from $5.1B a year earlier. Net income was $615M, up 37.9% from $446M. Source: 10-Q for the quarter ended Sep 30, 2026, filed Oct 28, 2026.

How much cash and debt does GE HealthCare have?

GE HealthCare had $2.8B in cash and cash equivalents and $10.0B of total debt on Sep 30, 2026. Total debt here is short-term borrowings and the current part of long-term debt plus long-term debt, at carrying value. Source: 10-Q filed Oct 28, 2026.

What are the main risks GE HealthCare faces?

GE HealthCare's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 4, 2026. Risks that are common among companies in the health care equipment industry include Regulation; pricing and reimbursement; competition; litigation; supply. The first: Approvals, safety rules and government oversight shape what it can sell and how. Source: 10-K, Item 1A Risk Factors.

Where do these GE HealthCare numbers come from?

From GE HealthCare's own SEC filings: the 10-K for fiscal 2025 (filed Feb 4, 2026) and the 10-Q for the quarter ended Sep 30, 2026 (filed Oct 28, 2026), read through the SEC's public XBRL data. Each number on this page links to its filing. Methodology explains how fiscal years and missing numbers are handled.

Tracked funds that report owning GE HealthCare

Trian Fund Management: 3,085,344 shares, reported value $197.5M at Jun 30, 2026 (+76,194.4% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 12, 2026.
Citadel Advisors: 2,367,032 shares, reported value $151.5M at Jun 30, 2026 (+83.0% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
Point72 Asset Management: 1,165,973 shares, reported value $74.6M at Jun 30, 2026 (+832.3% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Millennium Management: 289,617 shares, reported value $18.5M at Jun 30, 2026 (new in this filing). Form 13F filed Aug 14, 2026.
Bridgewater Associates: 15,595 shares, reported value $1.0M at Jun 30, 2026 (−78.3% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Two Sigma Investments: 12,977 shares, reported value $0.8M at Jun 30, 2026 (new in this filing). Form 13F filed Aug 14, 2026.

From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.

Disclosures

Editor holdings in GEHC: The editor holds no position in GE HealthCare (GEHC). As of Nov 11, 2026.
Trading rule: The editor does not buy or sell GEHC from 3 days before to 3 days after this page is published or substantively updated.
Compensation: Nobody paid for this page. No affiliate links on this page.
Sources: The company's SEC filings, linked next to each number or, for charts, in the source line under them.
Last updated: Nov 9, 2026

General education, the same for every reader. Not a recommendation to buy, sell or hold GEHC, and it doesn't consider your situation.

Compare with peers

Company	Fiscal year	Revenue	Revenue growth	Net income
GE HealthCareGEHC	FY2025	$20.6B	+4.8%	$2.1B
AbbottABT	FY2025	$44.3B	+5.7%	$6.5B
Intuitive SurgicalISRG	FY2025	$10.1B	+20.5%	$2.9B
MedtronicMDT	FY2026	$36.4B	+8.4%	$4.8B
StrykerSYK	FY2025	$25.1B	+11.2%	$3.2B

Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.

More company files

New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.