GE HealthCare

GE HealthCare makes medical imaging machines, imaging drugs and patient monitoring equipment for hospitals and clinics around the world. It has three segments. Advanced Imaging Solutions sells CT, MRI, X-ray, ultrasound and molecular imaging machines, with software and service contracts, and gave about 70% of revenue in Q3 2026.

Pharmaceutical Diagnostics sells contrast agents and radioactive tracers, such as Flyrcado, that doctors inject before a scan, and it has the highest margin. Patient Care Solutions sells patient monitors and other hospital equipment. It lost money in Q2 2026 and returned to profit in Q3 2026.

Services and drugs give repeat revenue from the large installed base of machines. GE HealthCare became an independent company in a spin-off from General Electric in 2023. In March 2026, it bought Intelerad, an imaging software company, for about $2.3 billion.

GE HealthCare trades at a discount because its profit grows more slowly than its orders, and the market doubts that it can convert its orders into higher margins and cash. In 2026, inflation in memory chips, oil and freight costs about $250 million, and in April 2026 the company lowered its profit and free cash flow outlook. China's volume-based buying and local competitors lower orders and prices there, and tariffs add cost. Patient Care Solutions lost money in Q2 2026, the company reviews strategic options for it, and the head of the segment leaves on November 15, 2026.

The CFO also changed twice in 2026. The Q3 2026 report on October 28, 2026 was a first step. Organic revenue grew 6.2%, the adjusted EBIT margin rose to 16.6%, and free cash flow was $793 million. The company raised its 2026 guidance to adjusted EPS of $4.95 to $5.05 and free cash flow of more than $1.6 billion.

But organic orders grew only 4.0%, after 11.1% in Q2 2026. For the gap to close, GE HealthCare must meet the raised guidance, the $23.7 billion backlog must turn into faster revenue growth in 2027, and the company must fix or sell Patient Care Solutions. The next tests are the Q4 2026 report with the 2027 outlook, expected in late January 2027, and the result of the Patient Care Solutions review, which has no date. If margins and cash flow keep recovering, the gap can close over the next four to six quarters.

The main risk is that inflation, China and tariffs keep margins flat while the company spends on new products.

1. Oct 28, 2026Passed

   Q3 2026 results: margin and free cash flowAn adjusted EBIT margin on track for 15.4% to 15.7% and strong free cash flow toward the $1.6 billion target pass; lower guidance or weak cash flow fails.Outcome: The adjusted EBIT margin rose to 16.6%, free cash flow was $793 million, and the company raised its 2026 adjusted EPS and free cash flow guidance.
2. Jan 28, 2027 · est.Pending

   Q4 2026 results and 2027 outlookA 2027 outlook with faster organic revenue growth from the record backlog and a higher margin passes; flat margins or lower growth fail.
3. 2027 · est.Pending

   Result of the Patient Care Solutions strategic reviewA sale or a plan that returns the segment to profit without large charges passes; continued losses with no decision fail.

Every passed and failed checkpoint across all picks

• October 28, 2026GE HealthCare reported Q3 2026 results. Revenue was $5.5 billion, up 7.2%, and organic revenue grew 6.2%, with growth in all segments. Organic orders grew 4.0%, the book-to-bill was 1.03, and backlog was $23.7 billion. The adjusted EBIT margin was 16.6%, up 180 basis points, and adjusted EPS was $1.34, up 25.1%. Patient Care Solutions revenue grew 8.5%, and its EBIT margin was 8.6%. Free cash flow was $793 million, including a $55 million tariff refund. The company raised its 2026 guidance to organic revenue growth of about 4.0%, an adjusted EBIT margin of 15.5% to 15.7%, adjusted EPS of $4.95 to $5.05 and free cash flow of more than $1.6 billion.
• October 28, 2026GE HealthCare said that Jeannette Bankes, President and CEO of Patient Care Solutions, leaves for a CEO role at another public company. Her last day is November 15, 2026. Neal Sandy, head of product strategy and management in the segment, takes over on November 16, 2026.
• October 7, 2026GE HealthCare said that it will report Q3 2026 results before the market opens on October 28, 2026, with a call at 8:30 a.m. ET.

Last earnings

October 28, 2026 (8-K on sec.gov)

Next earnings

Expected about January 28, 2027. The company has not confirmed the date.

• 8-KChange of directors or officersFiled November 5, 2026 · gehc-20261104
• 10-QQuarterly report for the period ended Sep 30, 2026Filed October 28, 2026 · gehc-20260930
• 8-KEarnings release and Change of directors or officersFiled October 28, 2026 · Press release and exhibits
• 8-KChange of directors or officers and Investor disclosureFiled September 22, 2026 · gehc-20260922
• 8-KChange of directors or officersFiled August 18, 2026 · gehc-20260813
• 8-KInvestor disclosureFiled July 29, 2026 · gehc-20260729
• 10-QQuarterly report for the period ended Jun 30, 2026Filed July 29, 2026 · gehc-20260630
• 8-KEarnings releaseFiled July 29, 2026 · Press release and exhibits
• 8-KEarnings release and Change of directors or officersFiled July 23, 2026 · Press release and exhibits
• 8-KShareholder vote results and Other company newsFiled May 11, 2026 · gehc-20260507

Every filing on SEC EDGAR (CIK 1932393)

• Costs rise faster than prices. The company expects about $250 million of inflation from memory chips, oil, freight and other parts in 2026, and it lowered its profit outlook in April 2026. Tariffs on imported parts add cost. Tariff refunds helped profit in 2026, but the timing and amount of more refunds are not certain.
• In China, volume-based buying by the government and strong local competitors lower orders and prices. The company said in its Q2 2026 10-Q that these factors can continue to affect orders and revenue, and trade tension between the US and China can make this worse.
• Patient Care Solutions revenue fell 13.3% in Q2 2026, and the segment had an EBIT margin of minus 3.8%. In Q3 2026, its revenue grew 8.5% and its EBIT margin was 8.6%, but the head of the segment leaves on November 15, 2026. A sale or other strategic option can bring charges or a low price, and more losses lower group margins.
• Free cash flow was about $973 million in the first nine months of 2026, against a full-year target of more than $1.6 billion. If Q4 2026 falls short, the company has less cash for debt repayment, buybacks and acquisitions, such as the $945 million SOFIE Biosciences purchase.
• The CFO changed twice in 2026: Jay Saccaro left in August, and William Grogan started on September 14, 2026. A new CFO can change guidance practice or capital plans. The head of Patient Care Solutions also changes in November 2026.

GE HealthCare had about $10.16 billion of debt principal at September 30, 2026: $9.5 billion of senior unsecured notes in nine series due from 2027 to 2052, $650 million drawn on a delayed-draw term loan that matures in March 2029, and $12 million of other debt. The first note, $1.75 billion, is due on November 15, 2027. Read more

Yield at the current rate

0.2% (current annual rate, at today’s price)

Dividend yield

0.2% (last 12 months, at today’s price of $82.60)

Paid per share

$0.145 in the last 12 months (4 payments)

Current annual rate

$0.16 ($0.04 × 4 a year)

Payout ratio

3% of the last fiscal year’s earnings (the year that ended December 31, 2025)

Latest ex-dividend date

October 23, 2026, $0.04 per share

Dividends per share by year

Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.