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Side-by-side financial comparison of GE HealthCare (GEHC) and Smurfit Westrock (SW). Click either name above to swap in a different company.
Smurfit Westrock is the larger business by last-quarter revenue ($7.6B vs $5.7B, roughly 1.3× GE HealthCare). GE HealthCare runs the higher net margin — 10.3% vs 1.3%, a 9.0% gap on every dollar of revenue. On growth, GE HealthCare posted the faster year-over-year revenue change (7.1% vs 0.5%). Over the past eight quarters, Smurfit Westrock's revenue compounded faster (60.8% CAGR vs 10.7%).
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...
Smurfit Westrock plc is an Irish company based in Dublin, Ireland that manufactures corrugated and paper-based packaging. Its stock is listed on the New York Stock Exchange and the London Stock Exchange.
GEHC vs SW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.7B | $7.6B |
| Net Profit | $588.0M | $97.0M |
| Gross Margin | 39.7% | 18.2% |
| Operating Margin | 14.5% | 5.1% |
| Net Margin | 10.3% | 1.3% |
| Revenue YoY | 7.1% | 0.5% |
| Net Profit YoY | -18.4% | -33.6% |
| EPS (diluted) | $1.28 | $0.18 |
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.
| Q4 25 | $5.7B | $7.6B | ||
| Q3 25 | $5.1B | $8.0B | ||
| Q2 25 | $5.0B | $7.9B | ||
| Q1 25 | $4.8B | $7.7B | ||
| Q4 24 | $5.3B | $7.5B | ||
| Q3 24 | $4.9B | $7.7B | ||
| Q2 24 | $4.8B | $3.0B | ||
| Q1 24 | $4.7B | $2.9B |
| Q4 25 | $588.0M | $97.0M | ||
| Q3 25 | $446.0M | $246.0M | ||
| Q2 25 | $486.0M | $-28.0M | ||
| Q1 25 | $564.0M | $384.0M | ||
| Q4 24 | $721.0M | $146.0M | ||
| Q3 24 | $470.0M | $-150.0M | ||
| Q2 24 | $428.0M | $132.0M | ||
| Q1 24 | $374.0M | $191.0M |
| Q4 25 | 39.7% | 18.2% | ||
| Q3 25 | 38.7% | 19.6% | ||
| Q2 25 | 39.6% | 19.1% | ||
| Q1 25 | 42.1% | 20.6% | ||
| Q4 24 | 42.8% | 19.1% | ||
| Q3 24 | 41.7% | 17.6% | ||
| Q2 24 | 41.4% | 23.3% | ||
| Q1 24 | 40.9% | 24.2% |
| Q4 25 | 14.5% | 5.1% | ||
| Q3 25 | 12.7% | 6.6% | ||
| Q2 25 | 13.1% | 3.2% | ||
| Q1 25 | 13.2% | 7.2% | ||
| Q4 24 | 15.1% | 5.3% | ||
| Q3 24 | 13.9% | 0.7% | ||
| Q2 24 | 12.6% | 8.2% | ||
| Q1 24 | 11.6% | 10.5% |
| Q4 25 | 10.3% | 1.3% | ||
| Q3 25 | 8.7% | 3.1% | ||
| Q2 25 | 9.7% | -0.4% | ||
| Q1 25 | 11.8% | 5.0% | ||
| Q4 24 | 13.6% | 1.9% | ||
| Q3 24 | 9.7% | -2.0% | ||
| Q2 24 | 8.8% | 4.4% | ||
| Q1 24 | 8.0% | 6.5% |
| Q4 25 | $1.28 | $0.18 | ||
| Q3 25 | $0.98 | $0.47 | ||
| Q2 25 | $1.06 | $-0.05 | ||
| Q1 25 | $1.23 | $0.73 | ||
| Q4 24 | $1.58 | $-0.12 | ||
| Q3 24 | $1.02 | $-0.30 | ||
| Q2 24 | $0.93 | $0.51 | ||
| Q1 24 | $0.81 | $0.73 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.5B | $892.0M |
| Total DebtLower is stronger | $10.0B | $13.4B |
| Stockholders' EquityBook value | $10.4B | $18.3B |
| Total Assets | $36.9B | $45.2B |
| Debt / EquityLower = less leverage | 0.96× | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.5B | $892.0M | ||
| Q3 25 | $4.0B | $851.0M | ||
| Q2 25 | $3.7B | $778.0M | ||
| Q1 25 | $2.5B | $797.0M | ||
| Q4 24 | $2.9B | $855.0M | ||
| Q3 24 | $3.5B | — | ||
| Q2 24 | $2.0B | $26.8K | ||
| Q1 24 | $2.6B | $108 |
| Q4 25 | $10.0B | $13.4B | ||
| Q3 25 | $10.3B | $13.3B | ||
| Q2 25 | $10.3B | $13.3B | ||
| Q1 25 | $8.8B | $12.9B | ||
| Q4 24 | $9.0B | $12.5B | ||
| Q3 24 | $10.3B | $13.2B | ||
| Q2 24 | $9.2B | — | ||
| Q1 24 | $9.3B | — |
| Q4 25 | $10.4B | $18.3B | ||
| Q3 25 | $10.0B | $18.4B | ||
| Q2 25 | $9.7B | $18.3B | ||
| Q1 25 | $9.2B | $17.9B | ||
| Q4 24 | $8.4B | $17.4B | ||
| Q3 24 | $8.3B | $18.0B | ||
| Q2 24 | $7.8B | $14.5K | ||
| Q1 24 | $7.4B | $108 |
| Q4 25 | $36.9B | $45.2B | ||
| Q3 25 | $36.1B | $45.6B | ||
| Q2 25 | $35.5B | $45.7B | ||
| Q1 25 | $33.6B | $44.6B | ||
| Q4 24 | $33.1B | $43.8B | ||
| Q3 24 | $33.9B | $45.0B | ||
| Q2 24 | $31.9B | $26.8K | ||
| Q1 24 | $32.2B | $108 |
| Q4 25 | 0.96× | 0.73× | ||
| Q3 25 | 1.03× | 0.72× | ||
| Q2 25 | 1.06× | 0.73× | ||
| Q1 25 | 0.95× | 0.72× | ||
| Q4 24 | 1.06× | 0.72× | ||
| Q3 24 | 1.24× | 0.73× | ||
| Q2 24 | 1.18× | — | ||
| Q1 24 | 1.25× | — |
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 | — | $1.2B |
| Free Cash FlowOCF − Capex | — | $612.0M |
| FCF MarginFCF / Revenue | — | 8.1% |
| Capex IntensityCapex / Revenue | 2.4% | 7.7% |
| Cash ConversionOCF / Net Profit | — | 12.32× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | $94.0M | $829.0M | ||
| Q1 25 | $250.0M | $235.0M | ||
| Q4 24 | — | $781.0M | ||
| Q3 24 | — | $320.0M | ||
| Q2 24 | $-119.0M | $340.0M | ||
| Q1 24 | $419.0M | $42.0M |
| Q4 25 | — | $612.0M | ||
| Q3 25 | — | $523.0M | ||
| Q2 25 | $8.0M | $307.0M | ||
| Q1 25 | $98.0M | $-242.0M | ||
| Q4 24 | — | $212.0M | ||
| Q3 24 | — | $-192.0M | ||
| Q2 24 | $-183.0M | $163.0M | ||
| Q1 24 | $274.0M | $-166.0M |
| Q4 25 | — | 8.1% | ||
| Q3 25 | — | 6.5% | ||
| Q2 25 | 0.2% | 3.9% | ||
| Q1 25 | 2.1% | -3.2% | ||
| Q4 24 | — | 2.8% | ||
| Q3 24 | — | -2.5% | ||
| Q2 24 | -3.8% | 5.5% | ||
| Q1 24 | 5.9% | -5.7% |
| Q4 25 | 2.4% | 7.7% | ||
| Q3 25 | 2.1% | 7.6% | ||
| Q2 25 | 1.7% | 6.6% | ||
| Q1 25 | 3.2% | 6.2% | ||
| Q4 24 | 1.9% | 7.5% | ||
| Q3 24 | 1.9% | 6.7% | ||
| Q2 24 | 1.3% | 6.0% | ||
| Q1 24 | 3.1% | 7.1% |
| Q4 25 | — | 12.32× | ||
| Q3 25 | — | 4.61× | ||
| Q2 25 | 0.19× | — | ||
| Q1 25 | 0.44× | 0.61× | ||
| Q4 24 | — | 5.35× | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.28× | 2.58× | ||
| Q1 24 | 1.12× | 0.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GEHC
| Imaging Segment | $2.6B | 45% |
| PCS Segment | $824.0M | 14% |
| P Dx Segment | $790.0M | 14% |
| Specialized Ultrasound Subsegment | $735.0M | 13% |
| Monitoring Solutions Subsegment | $578.0M | 10% |
| Life Support Solutions Subsegment | $247.0M | 4% |
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
