Upside case
Bull case
$83+34.2%
GEHC would need investors to value it at roughly 17x earnings — about 4x more generous than today's 12x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated May 1, 2026
GE HealthCare Technologies Inc. (GEHC) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
18
analysts
10 bullish · 1 bearish · 18 covering GEHC
Strong Buy
0
Buy
10
Hold
7
Sell
1
Strong Sell
0
Consensus Target
$84
+36.1% vs today
Scenario Range
$49 – $83
Model bear to bull value window
Coverage
18
Published analyst ratings
Valuation Context
12.5x
Forward P/E · Market cap $28.1B
GEHC price targets
Three scenarios for where GEHC stock could go
Current
~$62
Confidence
68 / 100
Updated
May 1, 2026
Where we are now
Current · $62
Bear
$49
Base
$61
Bull
$83
Market caseClosest to today
Base case
$61-1.6%
This is close to how the market is already pricing GEHC — at roughly 12x forward earnings. No dramatic re-rating needed, just steady execution on the core business.
Stress case
Bear case
$49-20.7%
If investor confidence fades or macro conditions deteriorate, a 3x multiple contraction could push GEHC down roughly 21% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
GE HealthCare Technologies Inc.
GEHC · NASDAQHealthcareMedical - Healthcare Information ServicesDecember year-end
GE HealthCare Technologies is a leading medical technology company that develops and manufactures diagnostic imaging equipment, monitoring systems, and pharmaceutical diagnostics. It generates revenue primarily through equipment sales (~60% of revenue) and recurring service/maintenance contracts (~40%), with its four main segments being Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics. The company's competitive advantage lies in its installed base moat—once hospitals adopt its complex, integrated systems, switching costs are high due to training, compatibility, and service dependencies.
Market Cap
$28.1B
Revenue TTM
$20.0B
Net Income TTM
$1.5B
Net Margin
7.5%
GEHC Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
83%Exceptional
12 quarters tracked
Revenue Beat Rate
67%Exceptional
vs consensus estimates
Avg EPS Surprise
+6.2%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 3 of 4Q3 2025
EPS
$1.06/$0.92
Revenue
$5.0B/$5.0B
Q4 2025
EPS
$1.07/$1.05
Revenue
$5.1B/$5.1B
Q1 2026
EPS
$1.44/$1.40
Revenue
$5.7B/$5.6B
Q2 2026
EPS
$0.99/$1.07
Revenue
$5.1B/$5.0B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $1.06/$0.92 | +15.5% | $5.0B/$5.0B | +0.7% |
| Q4 2025 | $1.07/$1.05 | +1.9% | $5.1B/$5.1B | +1.1% |
| Q1 2026 | $1.44/$1.40 | +2.9% | $5.7B/$5.6B | +1.5% |
| Q2 2026 | $0.99/$1.07 | -7.5% | $5.1B/$5.0B | +1.8% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$21.2B
+6.1% YoY
FY2
$22.0B
+4.1% YoY
EPS Outlook
FY1
$4.16
+26.4% YoY
FY2
$4.48
+7.6% YoY
Trailing FCF (TTM)$1.5B
FCF Margin: 7.6%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
GEHC beat EPS estimates in 3 of 4 tracked quarters. A strong delivery record supports forward estimate credibility.
GEHC Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $15.2B
Product Mix
Latest annual revenue by segment or product family
Imaging Segment
60.7%
+4.4% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Other Countries
45.7%
+5.7% YoY
Tap, hover, or focus a slice to inspect segment detail.
Imaging Segment is the largest disclosed segment at 60.7% of FY 2025 revenue, up 4.4% YoY.
Other Countries is the largest reported region at 45.7%, up 5.7% YoY.
GEHC Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Significantly Undervalued
Fair value est. $102 — implies +67.5% from today's price.
Upside to Fair Value
67.5%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
GEHC
13.6x
vs
S&P 500
25.2x
46% discount
vs Healthcare Trailing P/E
GEHC
13.6x
vs
Healthcare
22.1x
39% discount
vs GEHC 5Y Avg P/E
Today
13.6x
vs
5Y Average
18.9x
28% discount
Forward PE
12.5x
S&P 500
19.1x
-35%
Healthcare
19.0x
-34%
5Y Avg
—
—
Trailing PE
13.6x
S&P 500
25.2x
-46%
Healthcare
22.1x
-39%
5Y Avg
18.9x
-28%
PEG Ratio
19.91x
S&P 500
1.75x
+1040%
Healthcare
1.52x
+1209%
5Y Avg
—
—
EV/EBITDA
10.1x
S&P 500
15.3x
-34%
Healthcare
14.1x
-29%
5Y Avg
12.7x
-21%
Price/FCF
18.6x
S&P 500
21.3x
-13%
Healthcare
18.7x
-0%
5Y Avg
20.9x
-11%
Price/Sales
1.4x
S&P 500
3.1x
-57%
Healthcare
2.8x
-52%
5Y Avg
1.7x
-21%
Dividend Yield
0.23%
S&P 500
1.88%
-88%
Healthcare
1.40%
-84%
5Y Avg
0.15%
+54%
| Metric | GEHC | S&P 500 | Healthcare | 5Y Avg GEHC |
|---|---|---|---|---|
| Forward PE | 12.5x | 19.1x-35% | 19.0x-34% | — |
| Trailing PE | 13.6x | 25.2x-46% | 22.1x-39% | 18.9x-28% |
| PEG Ratio | 19.91x | 1.75x+1040% | 1.52x+1209% | — |
| EV/EBITDA | 10.1x | 15.3x-34% | 14.1x-29% | 12.7x-21% |
| Price/FCF | 18.6x | 21.3x-13% | 18.7x | 20.9x-11% |
| Price/Sales | 1.4x | 3.1x-57% | 2.8x-52% | 1.7x-21% |
| Dividend Yield | 0.23% | 1.88% | 1.40% | 0.15% |
GEHC trades above S&P 500 benchmarks on 1 of 6 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolGEHC Financial Health
Verdict
Strong
GEHC 13.3% ROIC signals a durable competitive advantage.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$20.0B
Revenue Growth
TTM vs prior year
+0.8%
Gross Margin
Gross profit as a share of revenue
42.5%
Operating Margin
Operating income divided by revenue
12.5%
Net Margin
Net income divided by revenue
7.5%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$3.29
Free Cash Flow (TTM)
Cash generation after capex
$1.5B
FCF Margin
FCF as share of revenue — the primary cash quality signal
7.6%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
13.3%
ROA
Return on assets, trailing twelve months
4.1%
Cash & Equivalents
Liquid assets on the balance sheet
$4.5B
Net Debt
Total debt minus cash
$5.5B
Debt Serviceability
Net debt as a multiple of annual free cash flow
3.6× FCF
~3.6 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
14.4%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.9%
Dividend
0.2%
Buyback
0.7%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$200M
Dividend / Share
Annualized trailing dividend per share
$0.14
Payout Ratio
Share of earnings distributed as dividends
3.1%
Shares Outstanding
Declining as buybacks retire shares
455M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageGEHC Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 11, 2026
High Risk
Debt Burden
GEHC carries significant debt, leading to substantial interest expenses that can weigh on earnings. While the company has been reducing debt, the remaining leverage remains a key risk to profitability.
High Risk
Supply Chain Disruptions
GEHC relies on global supply chains, making it vulnerable to disruptions from pandemics, tariffs, or geopolitical events, which could delay production and increase costs.
High Risk
Cybersecurity Vulnerabilities
FDA warnings about GEHC devices highlight potential data manipulation or system interference risks, especially in imaging software and central stations, which could lead to recalls or regulatory action.
Medium
China Market Challenges
An anti‑corruption campaign in China is expected to produce negative growth, prompting GEHC to cut its organic revenue growth guidance for the region.
Medium
Regulatory Compliance
GEHC faces extensive regulatory risks, including compliance with laws governing government contracts, procurement, and reimbursement. Non‑compliance could trigger investigations, penalties, and reputational damage.
Lower
Geopolitical Instability
Global geopolitical and economic instability, including international conflicts and tensions, can disrupt operations and supply chains, posing a lower‑tier risk to the company.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why GEHC Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 11, 2026
Shift to Recurring Revenue Model
GE HealthCare is actively increasing its recurring revenue mix from 50% to 60% by expanding Software‑as‑a‑Service contracts and consumables management. This transition makes the business more stable and less vulnerable to economic downturns, providing a predictable revenue stream.
Record Order Backlog
The company has built a record order backlog of $21.8 billion, giving it significant revenue visibility and predictability. This backlog serves as a key indicator of future committed revenue.
Robust R&D Pipeline
GE HealthCare invests over $1.2 billion annually in R&D, driving innovation. Recent FDA clearances for new MRI systems and photon‑counting CT technology are expected to fuel future growth under its D3 Strategy.
Strategic Acquisitions & AI Integration
Acquisitions such as MIM Software and Intelerad enhance higher‑margin SaaS and recurring revenue models. The integration of AI and digital solutions across devices is a core part of its strategy.
Operational Efficiency via Heartbeat
The “Heartbeat” business system optimizes operations, improves customer experience, and drives productivity, leading to margin expansion. This has resulted in a strong return on equity that outperforms rivals.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
GEHC Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$61.73
52W Range Position
10%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$58.75
+5.1% from the low
52-Week High
$89.77
-31.2% from the high
1 Month
-12.31%
3 Month
-23.45%
YTD
-25.5%
1 Year
-8.0%
3Y CAGR
-8.1%
5Y CAGR
+0.6%
10Y CAGR
+0.3%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
GEHC vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
12.5x
vs 17.6x median
-29% below peer median
Revenue Growth
+6.1%
vs +9.9% median
-39% below peer median
Net Margin
7.5%
vs 13.2% median
-43% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
GEH GEHC GE HealthCare Technologies Inc. | $28.1B | 12.5x | +6.1% | 7.5% | Buy | +36.1% |
SYK SYK Stryker Corporation | $112.0B | 19.5x | +9.9% | 12.9% | Buy | +38.1% |
BSX BSX Boston Scientific Corporation | $83.2B | 16.6x | +12.8% | 14.4% | Buy | +63.1% |
EW EW Edwards Lifesciences Corporation | $48.0B | 27.7x | +9.9% | 17.6% | Buy | +16.0% |
PHG PHG Koninklijke Philips N.V. | $25.9B | 17.6x | -0.1% | 5.0% | Hold | — |
HOL HOLX Hologic, Inc. | $17.0B | 17.2x | +0.3% | 13.2% | Hold | +3.9% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
GEHC Dividend and Capital Return
GEHC returns capital mainly through $200M/year in buybacks (0.7% buyback yield), with a modest 0.23% dividend — combining for 0.9% total shareholder yield.
Dividend SustainableFCF Well Covered
Total Shareholder Yield
0.9%
Dividend + buyback return per year
Buyback Yield
0.7%
Dividend Yield
0.23%
Payout Ratio
3.1%
How GEHC Splits Its Return
Div 0.23%
Buyback 0.7%
Dividend 0.23%Buybacks 0.7%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.14
Growth Streak
Consecutive years of dividend increases
3Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$200M
Estimated Shares Retired
3M
Approx. Share Reduction
0.7%
Shares Outstanding
Current diluted share count from the screening snapshot
455M
At 0.7%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.07 | — | — | — |
| 2025 | $0.14 | +16.7% | 0.5% | 0.7% |
| 2024 | $0.12 | +33.3% | 0.0% | 0.2% |
| 2023 | $0.09 | — | 0.0% | 0.1% |
FAQ
7 questionsGEHC Investor Questions
Common questions answered from live analyst data and company financials.
01Is GE HealthCare Technologies Inc. (GEHC) stock a buy or sell in 2026?
GE HealthCare Technologies Inc. (GEHC) is rated Buy by Wall Street analysts as of 2026. Of 18 analysts covering the stock, 10 rate it Buy or Strong Buy, 7 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $84, implying +36.1% from the current price of $62. The bear case scenario is $49 and the bull case is $83.
02What is the GEHC stock price target for 2026?
The Wall Street consensus price target for GEHC is $84 based on 18 analyst estimates. The high-end target is $105 (+70.1% from today), and the low-end target is $65 (+5.3%). The base case model target is $61.
03Is GE HealthCare Technologies Inc. (GEHC) stock overvalued in 2026?
GEHC trades at 12.5x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals significantly undervalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for GE HealthCare Technologies Inc. (GEHC) stock in 2026?
The primary risks for GEHC in 2026 are: (1) Debt Burden — GEHC carries significant debt, leading to substantial interest expenses that can weigh on earnings. (2) Supply Chain Disruptions — GEHC relies on global supply chains, making it vulnerable to disruptions from pandemics, tariffs, or geopolitical events, which could delay production and increase costs. (3) Cybersecurity Vulnerabilities — FDA warnings about GEHC devices highlight potential data manipulation or system interference risks, especially in imaging software and central stations, which could lead to recalls or regulatory action. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is GE HealthCare Technologies Inc.'s revenue and earnings forecast?
Analyst consensus estimates GEHC will report consensus revenue of $21.2B (+6.1% year-over-year) and EPS of $4.16 (+26.4% year-over-year) for the upcoming fiscal year. The following year, analysts project $22.0B in revenue.
06When does GE HealthCare Technologies Inc. (GEHC) report its next earnings?
A confirmed upcoming earnings date for GEHC is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does GE HealthCare Technologies Inc. generate?
GE HealthCare Technologies Inc. (GEHC) generated $1.5B in free cash flow over the trailing twelve months — a free cash flow margin of 7.6%. GEHC returns capital to shareholders through dividends (0.2% yield) and share repurchases ($200M TTM).