GE HealthCare (GEHC) FY2025 10-K Annual Report
GE HealthCare (GEHC) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 4, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
GE HealthCare FY2025 10-K Analysis
Business Overview
- • Core business: global healthcare solutions provider delivering advanced medical tech, diagnostics, AI, cloud, and software for personalized patient care
- • New emphasis on AI-enabled software solutions upgradeable through equipment lifecycle, enhancing multi-site healthcare network operations
- • Strategic shift post-January 2023 spin-off from General Electric, operating independently with focus on lean system Heartbeat and operational culture
- • Workforce approx. 54,000 employees, with 9,700 sales and 8,900 engineers and field service professionals globally
- • Noteworthy: operates 44 manufacturing/production facilities across 17 countries with global integrated supply chain ensuring resilience and regional compliance
Management Discussion & Analysis
- • Revenue $20,625M, up 4.8% YoY; Product sales $13,661M (+4.5%, +$586M), Services $6,964M (+5.6%, +$368M)
- • Operating income $2,763M (13.4% margin vs 13.3%), net income $2,084M (10.1% margin, flat YoY)
- • Best segment: PDx revenues $2,900M (+15.6%, +$392M) with EBIT $872M (+11.4%); Worst segment: PCS revenues $3,086M (-1.2%, -$38M) with EBIT $209M (-39.6%)
- • Cost inflation including tariffs increased product costs $671M; operating expenses down $95M due to lower R&D and SG&A; tariffs impacted Operating income by $245M and cash flows by $285M
- • No explicit forward guidance; key risks: ongoing tariffs, geopolitical instability, China market pressures, and trade restrictions may materially impact future results
Risk Factors
- • US tariffs on global imports in 2025 materially reduced profitability and cash flows, with ongoing risk of additional tariffs impacting financial results
- • Russia-Ukraine conflict and resulting US, EU sanctions increased costs and restricted supply to Russian customers, with uncertain license approvals from US authorities
- • Supply chain disruptions and raw material shortages causing manufacturing delays, higher costs, and delivery impairments
- • U.S. Librarian of Congress copyright exemption enabling third-party ISOs to access OEM repair software threatens service contracts and revenues
- • Existing indebtedness and potential additional borrowings pose financial constraints and risks to business operations
GE HealthCare FY2025 Key Financial MetricsXBRL
Revenue
$20.6B
▲ +4.8% YoY
Net Income
$2.1B
▲ +4.6% YoY
Gross Margin
40.0%
▼ -172bp YoY
Operating Margin
13.4%
▲ +5bp YoY
Net Margin
10.1%
▼ -3bp YoY
ROE
20.1%
▼ -352bp YoY
Total Assets
$36.9B
▲ +11.5% YoY
EPS (Diluted)
$4.55
▲ +4.8% YoY
Operating Cash Flow
$2.0B
▲ +1.6% YoY
Source: XBRL data from GE HealthCare FY2025 10-K filing on SEC EDGAR. All figures in USD.
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