GE HealthCare Technologies (GEHC) financial statements
GE HealthCare Technologies reported revenue of $20.6B in fiscal 2025, up 4.1% a year over 4 years.
Net income was $2.1B and the operating margin 13.4%, against 15.9% in 2021.
Free cash flow was $1.5B, and the company returned $64M in dividends and $200M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from GE HealthCare Technologies's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $17.6B | $18.3B | $19.6B | $19.7B | $20.6B |
| Gross profit | $7.2B | $7.2B | $7.9B | $8.2B | $8.2B |
| Research and development | $816M | $1.0B | $1.2B | $1.3B | $1.3B |
| Selling, general and admin | $3.6B | $3.6B | $4.3B | $4.3B | $4.2B |
| Operating income | $2.8B | $2.5B | $2.4B | $2.6B | $2.8B |
| Interest expense | $40M | $77M | $542M | $504M | $440M |
| Pre-tax income | $2.9B | $2.5B | $2.4B | $2.6B | $2.8B |
| Income tax | $600M | $563M | $743M | $531M | $614M |
| Net income | $2.2B | $1.9B | $1.6B | $2.0B | $2.1B |
| EPS (diluted) | $4.95 | $4.22 | $3.03 | $4.34 | $4.55 |
| Diluted shares | 454M | 454M | 458M | 459M | 458M |
| Gross margin | 40.8% | 39.1% | 40.5% | 41.7% | 40.0% |
| Operating margin | 15.9% | 13.8% | 12.5% | 13.3% | 13.4% |
| Net margin | 12.8% | 10.4% | 8.0% | 10.1% | 10.1% |
Balance sheet
Fiscal years, from GE HealthCare Technologies's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash and short-term investments | $561M | $1.4B | $2.5B | $2.9B | $4.5B |
| Inventory | — | $2.2B | $2.0B | $1.9B | $2.2B |
| Total current assets | — | $8.3B | $9.4B | $9.9B | $12.5B |
| Property, plant and equipment | — | $2.0B | $2.1B | — | — |
| Goodwill | $12.9B | $12.8B | $12.9B | $13.1B | $13.5B |
| Total assets | — | $27.5B | $32.5B | $33.1B | $36.9B |
| Total current liabilities | — | $7.2B | $9.0B | $9.6B | $9.1B |
| Long-term debt | — | $8.2B | $8.4B | $7.4B | $9.5B |
| Total liabilities | — | $17.9B | $25.1B | $24.4B | $26.3B |
| Shareholders' equity | $16.7B | $9.4B | $7.1B | $8.4B | $10.4B |
| Net debt | -$561M | $6.8B | $6.9B | $6.1B | $5.5B |
Cash flow
Fiscal years, from GE HealthCare Technologies's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $1.6B | $2.1B | $2.1B | $2.0B | $2.0B |
| Capital spending | $248M | $310M | $387M | $401M | $482M |
| Free cash flow | $1.4B | $1.8B | $1.7B | $1.6B | $1.5B |
| Stock-based compensation | $76M | $67M | $114M | $125M | $130M |
| Dividends paid | $0 | $0 | $41M | $55M | $64M |
| Share buybacks (net) | — | — | $0 | $0 | -$200M |
| Free cash flow margin | 7.7% | 9.9% | 8.8% | 7.9% | 7.3% |
| Dividends per share | — | — | $0.09 | $0.12 | $0.14 |
Questions
What was GE HealthCare Technologies's revenue in 2025?
$20.6B in fiscal 2025, from its 10-K filing.
How much free cash flow does GE HealthCare Technologies generate?
$1.5B in fiscal 2025 (operating cash flow minus capital spending).
From GE HealthCare Technologies's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.