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Side-by-side financial comparison of GE HealthCare (GEHC) and Honeywell (HON). Click either name above to swap in a different company.
Honeywell is the larger business by last-quarter revenue ($9.1B vs $5.1B, roughly 1.8× GE HealthCare). Honeywell runs the higher net margin — 8.7% vs 8.0%, a 0.7% gap on every dollar of revenue. On growth, GE HealthCare posted the faster year-over-year revenue change (7.4% vs 2.0%). GE HealthCare produced more free cash flow last quarter ($112.0M vs $56.0M). Over the past eight quarters, GE HealthCare's revenue compounded faster (3.0% CAGR vs -2.3%).
GE Healthcare Technologies, Inc., stylized GE HealthCare, is an American health technology company based in Chicago, Illinois. It operates four divisions: Medical imaging, which includes molecular imaging, computed tomography, magnetic resonance, women’s health screening and X-ray systems; Ultrasound; Patient Care Solutions, which is focused on remote patient monitoring, anesthesia and respiratory care, diagnostic cardiology, and infant care; and Pharmaceutical Diagnostics, which manufactures...
Honeywell International Inc. is an American publicly traded, multinational conglomerate corporation headquartered in Charlotte, North Carolina. It primarily operates in four areas of business: aerospace, building automation, industrial automation, and energy and sustainability solutions (ESS). Honeywell also owns and operates Sandia National Laboratories under contract with the U.S. Department of Energy. Honeywell is a Fortune 500 company, ranked 115th in 2023.
GEHC vs HON — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $5.1B | $9.1B |
| Net Profit | $411.0M | $795.0M |
| Gross Margin | 38.5% | — |
| Operating Margin | 10.0% | 16.1% |
| Net Margin | 8.0% | 8.7% |
| Revenue YoY | 7.4% | 2.0% |
| Net Profit YoY | -31.0% | -43.3% |
| EPS (diluted) | $0.85 | $1.29 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $5.1B | $9.1B | ||
| Q4 25 | $5.7B | $6.9B | ||
| Q3 25 | $5.1B | $10.4B | ||
| Q2 25 | $5.0B | $10.4B | ||
| Q1 25 | $4.8B | $9.8B | ||
| Q4 24 | $5.3B | $10.1B | ||
| Q3 24 | $4.9B | $9.7B | ||
| Q2 24 | $4.8B | $9.6B |
| Q1 26 | $411.0M | $795.0M | ||
| Q4 25 | $588.0M | $-115.0M | ||
| Q3 25 | $446.0M | $1.8B | ||
| Q2 25 | $486.0M | $1.6B | ||
| Q1 25 | $564.0M | $1.4B | ||
| Q4 24 | $721.0M | $1.3B | ||
| Q3 24 | $470.0M | $1.4B | ||
| Q2 24 | $428.0M | $1.5B |
| Q1 26 | 38.5% | — | ||
| Q4 25 | 39.7% | 36.1% | ||
| Q3 25 | 38.7% | 31.1% | ||
| Q2 25 | 39.6% | 35.4% | ||
| Q1 25 | 42.1% | 35.2% | ||
| Q4 24 | 42.8% | 36.4% | ||
| Q3 24 | 41.7% | 35.1% | ||
| Q2 24 | 41.4% | 35.0% |
| Q1 26 | 10.0% | 16.1% | ||
| Q4 25 | 14.5% | 16.0% | ||
| Q3 25 | 12.7% | 23.1% | ||
| Q2 25 | 13.1% | 22.9% | ||
| Q1 25 | 13.2% | 23.0% | ||
| Q4 24 | 15.1% | 21.6% | ||
| Q3 24 | 13.9% | 23.6% | ||
| Q2 24 | 12.6% | 23.0% |
| Q1 26 | 8.0% | 8.7% | ||
| Q4 25 | 10.3% | -1.7% | ||
| Q3 25 | 8.7% | 17.5% | ||
| Q2 25 | 9.7% | 15.2% | ||
| Q1 25 | 11.8% | 14.8% | ||
| Q4 24 | 13.6% | 12.7% | ||
| Q3 24 | 9.7% | 14.5% | ||
| Q2 24 | 8.8% | 16.1% |
| Q1 26 | $0.85 | $1.29 | ||
| Q4 25 | $1.28 | $-0.17 | ||
| Q3 25 | $0.98 | $2.86 | ||
| Q2 25 | $1.06 | $2.45 | ||
| Q1 25 | $1.23 | $2.22 | ||
| Q4 24 | $1.58 | $1.96 | ||
| Q3 24 | $1.02 | $2.16 | ||
| Q2 24 | $0.93 | $2.36 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $12.4B |
| Total DebtLower is stronger | $10.1B | $32.1B |
| Stockholders' EquityBook value | $10.7B | — |
| Total Assets | $37.1B | $74.0B |
| Debt / EquityLower = less leverage | 0.95× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $12.4B | ||
| Q4 25 | $4.5B | $12.9B | ||
| Q3 25 | $4.0B | $13.4B | ||
| Q2 25 | $3.7B | $10.7B | ||
| Q1 25 | $2.5B | $10.1B | ||
| Q4 24 | $2.9B | $11.0B | ||
| Q3 24 | $3.5B | $10.9B | ||
| Q2 24 | $2.0B | $9.8B |
| Q1 26 | $10.1B | $32.1B | ||
| Q4 25 | $10.0B | $27.1B | ||
| Q3 25 | $10.3B | $30.1B | ||
| Q2 25 | $10.3B | $30.2B | ||
| Q1 25 | $8.8B | $25.7B | ||
| Q4 24 | $9.0B | $25.5B | ||
| Q3 24 | $10.3B | $25.9B | ||
| Q2 24 | $9.2B | $20.9B |
| Q1 26 | $10.7B | — | ||
| Q4 25 | $10.4B | $13.9B | ||
| Q3 25 | $10.0B | $16.8B | ||
| Q2 25 | $9.7B | $16.1B | ||
| Q1 25 | $9.2B | $17.5B | ||
| Q4 24 | $8.4B | $18.6B | ||
| Q3 24 | $8.3B | $17.4B | ||
| Q2 24 | $7.8B | $16.9B |
| Q1 26 | $37.1B | $74.0B | ||
| Q4 25 | $36.9B | $73.7B | ||
| Q3 25 | $36.1B | $80.9B | ||
| Q2 25 | $35.5B | $78.4B | ||
| Q1 25 | $33.6B | $75.2B | ||
| Q4 24 | $33.1B | $75.2B | ||
| Q3 24 | $33.9B | $73.5B | ||
| Q2 24 | $31.9B | $69.3B |
| Q1 26 | 0.95× | — | ||
| Q4 25 | 0.96× | 1.95× | ||
| Q3 25 | 1.03× | 1.79× | ||
| Q2 25 | 1.06× | 1.87× | ||
| Q1 25 | 0.95× | 1.47× | ||
| Q4 24 | 1.06× | 1.37× | ||
| Q3 24 | 1.24× | 1.49× | ||
| Q2 24 | 1.18× | 1.23× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $0 |
| Free Cash FlowOCF − Capex | $112.0M | $56.0M |
| FCF MarginFCF / Revenue | 2.2% | 0.6% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.00× |
| TTM Free Cash FlowTrailing 4 quarters | — | $5.1B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $0 | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $3.3B | ||
| Q2 25 | $94.0M | $1.3B | ||
| Q1 25 | $250.0M | $597.0M | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | $-119.0M | $1.4B |
| Q1 26 | $112.0M | $56.0M | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | $8.0M | $1.0B | ||
| Q1 25 | $98.0M | $346.0M | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | $-183.0M | $1.1B |
| Q1 26 | 2.2% | 0.6% | ||
| Q4 25 | — | 16.7% | ||
| Q3 25 | — | 28.0% | ||
| Q2 25 | 0.2% | 9.8% | ||
| Q1 25 | 2.1% | 3.5% | ||
| Q4 24 | — | 18.7% | ||
| Q3 24 | — | 17.7% | ||
| Q2 24 | -3.8% | 11.6% |
| Q1 26 | — | 2.4% | ||
| Q4 25 | 2.4% | 0.8% | ||
| Q3 25 | 2.1% | 3.6% | ||
| Q2 25 | 1.7% | 2.9% | ||
| Q1 25 | 3.2% | 2.6% | ||
| Q4 24 | 1.9% | 3.9% | ||
| Q3 24 | 1.9% | 2.9% | ||
| Q2 24 | 1.3% | 2.7% |
| Q1 26 | — | 0.00× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 1.80× | ||
| Q2 25 | 0.19× | 0.84× | ||
| Q1 25 | 0.44× | 0.41× | ||
| Q4 24 | — | 1.78× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | -0.28× | 0.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GEHC
| Imaging revenues | $2.3B | 45% |
| AVS revenues | $1.3B | 26% |
| PDx revenues | $770.0M | 15% |
| PCS revenues | $704.0M | 14% |
| Other revenues | $18.0M | 0% |
HON
| Aerospace Technologies | $4.3B | 47% |
| Building Automation | $1.9B | 21% |
| Process Automation and Technology | $1.5B | 17% |
| Industrial Automation | $1.4B | 16% |
| Corporate and All Other | $5.0M | 0% |
