Explain this page
Arphra AIPlain-English read on GE HealthCare Technologies Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | $35.65B | $37.44B | — | — | — | — |
| Enterprise value | — | — | — | $42.14B | $42.93B | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | 2.14 | 2.08 | — | — | — | — |
| EV / FCF | — | — | — | 27.18 | 28.51 | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | +5.59% | +5.57% | — | — | — | — |
| Free cash flow yield | — | — | — | +4.35% | +4.02% | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +40.80% | +39.14% | +40.52% | +41.71% | +39.99% | +40.95% | +41.80% | +40.48% | +41.23% |
| Operating margin | +15.89% | +13.75% | +12.45% | +13.34% | +13.39% | +12.90% | +12.68% | +13.34% | +13.39% |
| EBITDA margin | +20.13% | +17.26% | +17.97% | +18.64% | +18.35% | +18.83% | +17.84% | +17.91% | +18.37% |
| EBIT margin | +16.58% | +13.81% | +14.85% | +15.69% | +15.55% | +15.50% | +15.16% | +15.77% | +15.00% |
| Pre-tax margin | +16.35% | +13.70% | +12.08% | +13.12% | +13.42% | +12.78% | +12.62% | +12.92% | +13.22% |
| Net margin | +12.78% | +10.45% | +8.02% | +10.13% | +10.10% | +9.27% | +9.61% | +9.47% | +9.69% |
| Cost structure | |||||||||
| Cost of revenue / sales | +59.20% | +60.86% | +59.48% | +58.29% | +60.01% | +57.61% | +60.68% | +58.53% | +57.64% |
| R&D intensity | +4.64% | +5.59% | +6.16% | +6.66% | +6.11% | +6.33% | +6.33% | +6.34% | +6.29% |
| SG&A intensity | +20.26% | +19.80% | +21.90% | +21.70% | +20.48% | +21.23% | +21.01% | +21.65% | +20.94% |
| Effective tax rate | +20.87% | +22.41% | +31.47% | +20.57% | +22.18% | +24.19% | +24.76% | +24.65% | +23.48% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +13.30% | +19.97% | +21.45% | +23.03% | +19.66% | +21.59% | +21.92% | +21.25% | +22.51% |
| Return on assets (ROA) | +8.54% | +6.96% | +4.83% | +6.02% | +5.65% | +5.40% | +5.78% | +5.41% | +5.67% |
| Return on capital (ROC) | +16.13% | +13.84% | +14.18% | +14.56% | +13.41% | +13.88% | +13.82% | +14.48% | +14.77% |
| Return on invested capital (ROIC) | +12.96% | +10.51% | +9.13% | +11.05% | +10.12% | +9.97% | +10.48% | +10.28% | +10.69% |
| Asset turnover | +66.84% | +66.60% | +60.25% | +59.45% | +55.89% | +58.25% | +60.12% | +57.09% | +58.56% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +12.78% | +10.45% | +8.02% | +10.13% | +10.10% | +9.27% | +9.61% | +9.47% | +9.69% |
| Asset turnover (× revenue / assets) | +66.84% | +66.60% | +60.25% | +59.45% | +55.89% | +58.25% | +60.12% | +57.09% | +58.56% |
| Equity multiplier (× assets / equity) | +155.71% | +287.10% | +443.97% | +382.40% | +348.20% | +399.88% | +379.23% | +392.96% | +396.72% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.67 | 0.67 | 0.60 | 0.59 | 0.56 | 0.58 | 0.60 | 0.57 | 0.59 |
| Fixed-asset turnover | 7.87 | 7.93 | 7.82 | 7.71 | 6.67 | — | — | — | — |
| Inventory turnover | 5.35 | 5.18 | 5.93 | 5.91 | 5.54 | — | — | — | — |
| Receivables turnover | 4.64 | 4.59 | 4.53 | 4.50 | 5.21 | — | — | — | — |
| Payables turnover | 3.81 | 3.61 | 3.95 | 3.79 | 3.81 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 78.69 | 79.46 | 80.55 | 81.19 | 69.99 | — | — | — | — |
| Days inventory outstanding (DIO) | 68.22 | 70.47 | 61.51 | 61.72 | 65.88 | — | — | — | — |
| Days payables outstanding (DPO) | 95.68 | 101.04 | 92.49 | 96.19 | 95.84 | — | — | — | — |
| Cash conversion cycle | 51.24 | 48.89 | 49.58 | 46.72 | 40.03 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 0.72 | 1.10 | 1.34 | 0.98 | 0.95 | 1.09 | 1.06 | 1.08 | 1.04 |
| FCF / Net income | 0.60 | 0.94 | 1.09 | 0.78 | 0.72 | 0.87 | 0.83 | 0.84 | 0.82 |
| FCF margin | +7.73% | +9.83% | +8.77% | +7.88% | +7.30% | +8.10% | +8.00% | +7.96% | +7.90% |
| OCF margin | +9.14% | +11.52% | +10.75% | +9.92% | +9.64% | +10.12% | +10.22% | +10.18% | +10.08% |
| CapEx / Revenue | +1.41% | +1.69% | +1.98% | +2.04% | +2.34% | +2.11% | +2.06% | +2.10% | +2.15% |
| CapEx / D&A | 0.40 | 0.49 | 0.63 | 0.69 | 0.83 | — | — | — | — |
| Stock-based comp / Revenue | +0.43% | +0.37% | +0.58% | +0.64% | +0.63% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 4.90 | 4.22 | 3.02 | 4.34 | 4.55 | 4.88 | 5.41 | 6.02 | 6.82 |
| EPS · basic | 4.90 | 4.22 | 3.04 | 4.37 | 4.56 | 4.91 | 5.41 | 6.08 | 6.77 |
| Book value / share | 37.16 | 21.13 | 15.96 | 18.85 | 23.03 | 20.17 | 21.67 | 23.26 | 23.96 |
| Tangible BV / share | 4.74 | -10.44 | -15.02 | -12.12 | -8.73 | 20.17 | 21.67 | 23.26 | 23.96 |
| Sales / share | 38.67 | 40.41 | 42.69 | 42.86 | 44.81 | 46.98 | 49.42 | 52.18 | 55.67 |
| Operating CF / share | 3.53 | 4.65 | 4.59 | 4.25 | 4.32 | 4.76 | 5.05 | 5.31 | 5.61 |
| Free cash flow / share | 2.99 | 3.97 | 3.74 | 3.38 | 3.27 | 3.80 | 3.96 | 4.15 | 4.40 |
| Dividends / share | 0.00 | 0.00 | 0.09 | 0.12 | 0.14 | 0.12 | 0.13 | 0.14 | 0.15 |
| Payout ratio | 0.00% | 0.00% | +2.61% | +2.76% | +3.07% | +2.81% | +2.72% | +2.79% | +2.75% |
| Retention ratio | +100.00% | +100.00% | +97.39% | +97.24% | +96.93% | +97.19% | +97.28% | +97.21% | +97.25% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +4.30% | +6.60% | +0.61% | +4.84% | +5.69% | +4.69% | +4.71% | +7.49% | +4.85% |
| Gross profit · YoY | — | +0.07% | +10.35% | +3.57% | +0.51% | +8.24% | +6.87% | +1.41% | +9.47% | +4.99% |
| Profit | ||||||||||
| Operating income · YoY | — | -9.77% | -3.45% | +7.80% | +5.22% | +1.83% | +2.86% | +10.20% | +7.89% | +2.63% |
| EBITDA · YoY | — | -10.59% | +11.00% | +4.36% | +3.25% | +8.46% | -0.80% | +5.13% | +10.23% | +3.66% |
| Net income · YoY | — | -14.73% | -18.16% | +27.10% | +4.57% | -3.03% | +8.55% | +3.18% | +9.95% | +1.29% |
| Operating | ||||||||||
| EBIT · YoY | — | -13.14% | +14.65% | +6.30% | +3.92% | +5.37% | +2.39% | +8.89% | +2.28% | +3.55% |
| R&D · YoY | — | +25.74% | +17.45% | +8.80% | -3.89% | +9.46% | +4.70% | +4.91% | +6.66% | +8.91% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -13.88% | -28.44% | +43.71% | +4.84% | +7.21% | +10.86% | +11.28% | +13.32% | +4.22% |
| EPS · basic · YoY | — | -13.88% | -27.96% | +43.75% | +4.35% | +7.58% | +10.19% | +12.53% | +11.22% | +4.12% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $437M | $8.64B | $9.86B | $9.38B | $10B | $10.9B | $10.93B | $11.36B | $12.22B |
| Net debt | -$119M | $7.19B | $7.36B | $6.49B | $5.49B | $7.3B | $7.21B | $7.5B | $8B |
| Net debt / EBITDA | -0.03 | 2.27 | 2.09 | 1.77 | 1.45 | 1.78 | 1.77 | 1.75 | 1.70 |
| Debt / equity | 0.03 | 0.90 | 1.35 | 1.08 | 0.94 | 1.16 | 1.09 | 1.07 | 1.11 |
| Debt / assets | +1.66% | +31.36% | +30.39% | +28.34% | +27.10% | +29.13% | +28.78% | +27.13% | +27.86% |
| Equity / assets | +64.22% | +34.83% | +22.52% | +26.15% | +28.72% | +25.01% | +26.37% | +25.45% | +25.21% |
| Coverage | |||||||||
| EBITDA / interest expense | 88.50 | 36.80 | 6.48 | 7.26 | 8.41 | 7.52 | 7.01 | 7.06 | 7.49 |
| Operating income / interest | 69.88 | 29.33 | 4.49 | 5.20 | 6.14 | 5.15 | 4.98 | 5.26 | 5.46 |
| Interest expense | $40M | $86M | $542M | $505M | $450M | $545.76M | $580.92M | $606.2M | $629.72M |
| Liquidity | |||||||||
| Current ratio | 0.97 | 1.09 | 1.00 | 1.00 | 1.18 | — | — | — | — |
| Quick ratio | 0.64 | 0.76 | 0.76 | 0.76 | 0.93 | — | — | — | — |
| Cash ratio | 0.08 | 0.20 | 0.28 | 0.30 | 0.50 | — | — | — | — |
| Working capital | -$218M | $628M | $29M | -$37M | $1.6B | — | — | — | — |
| Working capital / revenue | -1.24% | +3.42% | +0.15% | -0.19% | +7.74% | — | — | — | — |
Sourced from key_metrics + financial_ratios (loaded by load_fundamentals_extended.py).
Valuation
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| P / E | — | — |
| P / B | — | — |
| EV / EBITDA | — | — |
| EV / Sales | 2.08x | 2.14x |
| Earnings yield | 5.6% | 5.6% |
| FCF yield | 4.0% | 4.3% |
Returns
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | — | — |
| ROE | 20.1% | 23.6% |
| ROA | 5.6% | 6.0% |
| ROIC | 8.8% | 8.3% |
Leverage & liquidity
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Debt / equity | — | — |
| Net debt / EBITDA | 1.45 | 1.77 |
| Interest coverage | — | — |
| Current ratio | 1.18x | 1.00x |
| Quick ratio | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).