GE HealthCare Technologies Inc. (GEHC) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+79.4%

$150.44

vs $83.84 price

Levered DCF

$98.20

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.93

Grey zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	17.99×	17.89×	25.43×	13.83×	12.24×	13.61×	17.91×
P/B	3.61×	4.22×	4.93×	2.83×	1.64×	1.85×	0×
P/S	1.82×	1.81×	1.8×	1.44×	1.55×	1.59×	1.64×
EV / EBITDA	11.34×	11.49×	12.11×	10.64×	7.67×	7.85×	0×
Gross margin	40.0%	41.7%	40.5%	39.1%	40.8%	39.4%	39.4%
Operating margin	13.4%	13.3%	12.5%	13.8%	15.9%	15.8%	12.8%
Net margin	10.1%	10.1%	8.0%	10.4%	12.8%	80.7%	9.2%
Current ratio	1.18×	1×	1×	1.09×	0.97×	0.84×	0×
Debt / equity	0.96×	1.11×	1.38×	0.92×	0.03×	0.03×	0×
Interest coverage	6.14×	5.2×	4.49×	29.33×	69.88×	41.21×	24.14×
Dividend yield	0.2%	0.2%	0.1%	0.0%	0.0%	0.0%	0.0%
Payout ratio	3.1%	2.8%	2.6%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	20.1%	23.6%	22.0%	20.5%	13.5%	94.0%	0.0%
Return on invested capital	8.8%	8.3%	6.8%	9.6%	11.3%	11.6%	0.0%
Return on assets	5.6%	6.0%	4.8%	7.0%	8.5%	57.1%	0.0%
Free cash flow yield	4.0%	4.3%	4.9%	6.8%	5.0%	5.2%	6.1%
Earnings yield	5.6%	5.6%	4.5%	7.2%	8.2%	50.8%	5.6%
Enterprise value	$42.9B	$42.1B	$42.5B	$33.7B	$27.2B	$26.7B	$0
Net debt / EBITDA	1.45×	1.77×	2.09×	2.27×	-0.03×	-0.16×	0×
Cash conversion cycle (days)	40	47	50	49	51	29	0