GE HealthCare Technologies Inc
GEHC
GE HealthCare Technologies Inc AI Insights
Informational only. Not investment advice.Snapshot
- Goodwill of 13.4B is 134% of equity (9.9B) - tangible book value is NEGATIVE (-4.6B), creating material impairment risk[Goodwill]
- Operating margin TTM 13.5% vs industry median -11.4% - profitable in sector where median company loses money[Operating Margin TTM]
- ROE TTM 24.2% vs industry median -24.1% - top-tier capital efficiency in capital-intensive healthcare tech[ROE TTM]
Watch Triggers
- Goodwill: Any impairment charge or writedown — At 134% of equity, even 10% impairment wipes 1.3B from already-negative tangible book
- Operating Margin TTM: Falls below 10% — Margin compression would signal pricing pressure or cost inflation in medical devices
- Free Cash Flow TTM: FCF/Net Income falls below 50% — Would indicate working capital issues or hidden capex needs post-spinoff
Bull Case
Dominant profitability in unprofitable sector: 13.5% operating margin and 24% ROE where median peers lose money. R&D spend of 1.3B (6.3% of revenue) funds competitive moat.
Valuation discount: P/E 17.8x vs industry median 41.2x despite superior profitability. P/S 1.88x near median 1.65x but with 10x better margins.
Bear Case
Balance sheet fragility: Goodwill 13.4B exceeds total equity 9.9B. Any impairment directly hits equity - tangible book already negative (-4.6B).
Leverage limits optionality: 1.08x debt/equity with 446M annual interest (16% of EBITDA). Dividend yield minimal at 0.6% - shareholder returns constrained.
Bull vs Bear Balance
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Forward Thesis
FCF conversion should expand as post-spinoff working capital normalizes
- FCF/Net Income ratio currently 63% (1.4B/2.2B)
- Working capital positive but manageable at 1.8B
- Capex only 2.2% of revenue - asset-light model
Debt load constrains capital allocation flexibility near-term
- Debt/Equity 1.08x with 10.7B total debt
- Interest expense 446M TTM (20% of operating income)
- Net debt 6.3B vs 3.8B EBITDA = 1.7x leverage
Public Strategies Rankings
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GEHC Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$37.36B | — | ||
$44.1B | — | ||
18 | — | ||
$20.25B | +3.5% | — | |
$4.66 | +27.6% | — | |
13.5% | +0.7% | — | |
11.0% | +2.4% | — | |
$1.4B | -17.4% | — | |
0.24 | +2.5% | — | |
Beta 5Y (Monthly) | unknown | — |
GEHC Dividend History
2026
$0.03502025
$0.14002024
$0.12002023
$0.0900GEHC Stock Splits
GEHC SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
10/29/25 | 09/30/25 | 10-Q | |
07/30/25 | 06/30/25 | 10-Q | |
04/30/25 | 03/31/25 | 10-Q | |
02/13/25 | 12/31/24 | Unknown | |
10/30/24 | 09/30/24 | 10-Q | |
07/31/24 | 06/30/24 | 10-Q | |
04/30/24 | 03/31/24 | 10-Q | |
02/06/24 | 12/31/23 | 10-K | |
10/31/23 | 09/30/23 | 10-Q | |
07/25/23 | 06/30/23 | 10-Q | |
04/25/23 | 03/31/23 | 10-Q | |
02/15/23 | 12/31/22 | 10-K | |
12/02/22 | 09/30/22 | 10-12B/A | |
07/25/23 | 06/30/22 | 10-Q | |
04/25/23 | 03/31/22 | 10-Q | |
12/02/22 | 12/31/21 | 10-12B/A |