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Side-by-side financial comparison of GE HealthCare (GEHC) and SHOPIFY INC. (SHOP). Click either name above to swap in a different company.
GE HealthCare is the larger business by last-quarter revenue ($5.1B vs $3.7B, roughly 1.4× SHOPIFY INC.). SHOPIFY INC. runs the higher net margin — 20.2% vs 8.0%, a 12.2% gap on every dollar of revenue. On growth, SHOPIFY INC. posted the faster year-over-year revenue change (30.6% vs 7.4%). SHOPIFY INC. produced more free cash flow last quarter ($715.0M vs $112.0M). Over the past eight quarters, SHOPIFY INC.'s revenue compounded faster (40.5% CAGR vs 3.0%).
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...
Shopify Inc., stylized as shopify, is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario that operates a platform for retail point-of-sale systems. The company has over 5 million customers and processed US$292.3 billion in transactions in 2024, of which 57% was in the United States. Major customers include Tesla, LVMH, Nestlé, PepsiCo, AB InBev, Kraft Heinz, Lindt, Whole Foods Market, Red Bull, and Hyatt.
GEHC vs SHOP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.1B | $3.7B |
| Net Profit | $411.0M | $743.0M |
| Gross Margin | 38.5% | 46.1% |
| Operating Margin | 10.0% | 17.2% |
| Net Margin | 8.0% | 20.2% |
| Revenue YoY | 7.4% | 30.6% |
| Net Profit YoY | -31.0% | -42.5% |
| EPS (diluted) | $0.85 | $0.58 |
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 | — | ||
| Q4 25 | $5.7B | $3.7B | ||
| Q3 25 | $5.1B | $2.8B | ||
| Q2 25 | $5.0B | $2.7B | ||
| Q1 25 | $4.8B | $2.4B | ||
| Q4 24 | $5.3B | $2.8B | ||
| Q3 24 | $4.9B | $2.2B | ||
| Q2 24 | $4.8B | $2.0B |
| Q1 26 | $411.0M | — | ||
| Q4 25 | $588.0M | $743.0M | ||
| Q3 25 | $446.0M | $264.0M | ||
| Q2 25 | $486.0M | $906.0M | ||
| Q1 25 | $564.0M | $-682.0M | ||
| Q4 24 | $721.0M | $1.3B | ||
| Q3 24 | $470.0M | $828.0M | ||
| Q2 24 | $428.0M | $171.0M |
| Q1 26 | 38.5% | — | ||
| Q4 25 | 39.7% | 46.1% | ||
| Q3 25 | 38.7% | 48.9% | ||
| Q2 25 | 39.6% | 48.6% | ||
| Q1 25 | 42.1% | 49.5% | ||
| Q4 24 | 42.8% | 48.1% | ||
| Q3 24 | 41.7% | 51.7% | ||
| Q2 24 | 41.4% | 51.1% |
| Q1 26 | 10.0% | — | ||
| Q4 25 | 14.5% | 17.2% | ||
| Q3 25 | 12.7% | 12.1% | ||
| Q2 25 | 13.1% | 10.9% | ||
| Q1 25 | 13.2% | 8.6% | ||
| Q4 24 | 15.1% | 16.5% | ||
| Q3 24 | 13.9% | 13.1% | ||
| Q2 24 | 12.6% | 11.8% |
| Q1 26 | 8.0% | — | ||
| Q4 25 | 10.3% | 20.2% | ||
| Q3 25 | 8.7% | 9.3% | ||
| Q2 25 | 9.7% | 33.8% | ||
| Q1 25 | 11.8% | -28.9% | ||
| Q4 24 | 13.6% | 46.0% | ||
| Q3 24 | 9.7% | 38.3% | ||
| Q2 24 | 8.8% | 8.4% |
| Q1 26 | $0.85 | — | ||
| Q4 25 | $1.28 | $0.58 | ||
| Q3 25 | $0.98 | $0.20 | ||
| Q2 25 | $1.06 | $0.69 | ||
| Q1 25 | $1.23 | $-0.53 | ||
| Q4 24 | $1.58 | $0.99 | ||
| Q3 24 | $1.02 | $0.64 | ||
| Q2 24 | $0.93 | $0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $5.8B |
| Total DebtLower is stronger | $10.1B | — |
| Stockholders' EquityBook value | $10.7B | $13.5B |
| Total Assets | $37.1B | $15.2B |
| Debt / EquityLower = less leverage | 0.95× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $4.5B | $5.8B | ||
| Q3 25 | $4.0B | $6.3B | ||
| Q2 25 | $3.7B | $5.8B | ||
| Q1 25 | $2.5B | $5.5B | ||
| Q4 24 | $2.9B | $5.5B | ||
| Q3 24 | $3.5B | — | ||
| Q2 24 | $2.0B | — |
| Q1 26 | $10.1B | — | ||
| Q4 25 | $10.0B | — | ||
| Q3 25 | $10.3B | — | ||
| Q2 25 | $10.3B | — | ||
| Q1 25 | $8.8B | — | ||
| Q4 24 | $9.0B | — | ||
| Q3 24 | $10.3B | — | ||
| Q2 24 | $9.2B | — |
| Q1 26 | $10.7B | — | ||
| Q4 25 | $10.4B | $13.5B | ||
| Q3 25 | $10.0B | $12.5B | ||
| Q2 25 | $9.7B | $12.1B | ||
| Q1 25 | $9.2B | $11.1B | ||
| Q4 24 | $8.4B | $11.6B | ||
| Q3 24 | $8.3B | $10.1B | ||
| Q2 24 | $7.8B | $9.2B |
| Q1 26 | $37.1B | — | ||
| Q4 25 | $36.9B | $15.2B | ||
| Q3 25 | $36.1B | $15.0B | ||
| Q2 25 | $35.5B | $14.6B | ||
| Q1 25 | $33.6B | $13.4B | ||
| Q4 24 | $33.1B | $13.9B | ||
| Q3 24 | $33.9B | — | ||
| Q2 24 | $31.9B | — |
| Q1 26 | 0.95× | — | ||
| Q4 25 | 0.96× | — | ||
| Q3 25 | 1.03× | — | ||
| Q2 25 | 1.06× | — | ||
| Q1 25 | 0.95× | — | ||
| Q4 24 | 1.06× | — | ||
| Q3 24 | 1.24× | — | ||
| Q2 24 | 1.18× | — |
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 | — | $725.0M |
| Free Cash FlowOCF − Capex | $112.0M | $715.0M |
| FCF MarginFCF / Revenue | 2.2% | 19.5% |
| Capex IntensityCapex / Revenue | — | 0.3% |
| Cash ConversionOCF / Net Profit | — | 0.98× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.0B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $725.0M | ||
| Q3 25 | — | $513.0M | ||
| Q2 25 | $94.0M | $428.0M | ||
| Q1 25 | $250.0M | $367.0M | ||
| Q4 24 | — | $615.0M | ||
| Q3 24 | — | $423.0M | ||
| Q2 24 | $-119.0M | $340.0M |
| Q1 26 | $112.0M | — | ||
| Q4 25 | — | $715.0M | ||
| Q3 25 | — | $507.0M | ||
| Q2 25 | $8.0M | $422.0M | ||
| Q1 25 | $98.0M | $363.0M | ||
| Q4 24 | — | $611.0M | ||
| Q3 24 | — | $421.0M | ||
| Q2 24 | $-183.0M | $333.0M |
| Q1 26 | 2.2% | — | ||
| Q4 25 | — | 19.5% | ||
| Q3 25 | — | 17.8% | ||
| Q2 25 | 0.2% | 15.7% | ||
| Q1 25 | 2.1% | 15.4% | ||
| Q4 24 | — | 21.7% | ||
| Q3 24 | — | 19.5% | ||
| Q2 24 | -3.8% | 16.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.4% | 0.3% | ||
| Q3 25 | 2.1% | 0.2% | ||
| Q2 25 | 1.7% | 0.2% | ||
| Q1 25 | 3.2% | 0.2% | ||
| Q4 24 | 1.9% | 0.1% | ||
| Q3 24 | 1.9% | 0.1% | ||
| Q2 24 | 1.3% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.98× | ||
| Q3 25 | — | 1.94× | ||
| Q2 25 | 0.19× | 0.47× | ||
| Q1 25 | 0.44× | — | ||
| Q4 24 | — | 0.48× | ||
| Q3 24 | — | 0.51× | ||
| Q2 24 | -0.28× | 1.99× |
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% |
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
