GE HealthCare has achieved revenues of $20.6bn in fiscal year 2025 (FY25) amid ongoing imaging demand and now expects earnings to fall in the $4.95 to $5.15 per share range for FY26.
The imaging giant’s share expectations for FY26 exceeded analysts’ estimates of $4.92 per share, according to data compiled by London Stock Exchange Group (LSEG) and seen by Reuters.
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GE HealthCare’s shares on the Nasdaq stock exchange rose by around 1.1% to $79.71 per share at market open following the release of its financials on 4 February, compared to $78.78 previously. The company has a market cap of $37.96bn.
GE HealthCare’s FY25 revenues correspond to a growth margin of 4.8% on its FY24 revenues of $19.7bn, with this result driven by strong performance in its imaging verticals and advanced visualisation solutions (AVS).
GE HealthCare’s imaging vertical was the most significant in terms of overall revenue, with revenue of $9.25bn reflecting a 4.4% uptick on $8.86bn in FY24. AVS accounted for $5.35bn of revenue in FY25, corresponding to growth of 4.3% from $5.13bn in FY24.
Despite imaging and AVS’s strong performance, revenues in GE HealthCare’s patient care solutions (PCS) fell by 1.2% to around $3bn, down from $3.12bn in FY24.
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By GlobalDataMeanwhile, GE HealthCare’s pharmaceutical diagnostics (PDx) vertical was the biggest growth vertical in its portfolio, with revenues of $2.9bn denoting a 15.6% uplift on $2.5bn in FY24.
GE HealthCare also reported Q4 2025 revenues totalling $5.7bn, with imaging growing by 6.6% to account for almost half of this total at $2.55bn. Meanwhile, AVS grew by 5.9% in the quarter to $1.52bn, and pharmaceutical diagnostics by 22.3% to $790m. In alignment with its FY26 results, PCS revenues declined by 0.3% in the quarter.
GE HealthCare CEO Peter Arduini commented: “In our third year as a public company, we’ve made great strides executing our strategy focused on precision care, growth acceleration, and business optimisation. We delivered a strong quarter and year with growth in pharmaceutical diagnostics, imaging, and advanced visualisation solutions. This reflects healthy capital investment trends, commercial execution and demand for new products.”
At the recent J.P. Morgan Healthcare conference, Arduini highlighted that GE HealthCare is continuing with a “disciplined approach” to M&A in order to “fill gaps and add tuck-ins” to its portfolio, while also operating as a company that is well-positioned to advance its portfolio through organic investment and product development.
GE HealthCare most recently announced an agreement to acquire medical imaging software provider Intelerad for a cash consideration of $2.3bn in a move to significantly increase its range of cloud-enabled products by 2028.
During Arduini’s presentation at J.P. Morgan, he also highlighted that over time, the company wants to be measured less as an imaging hardware vendor, and as more of a healthcare solutions provider.
