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Side-by-side financial comparison of GE HealthCare (GEHC) and Warner Bros. Discovery (WBD). Click either name above to swap in a different company.
Warner Bros. Discovery is the larger business by last-quarter revenue ($9.5B vs $5.1B, roughly 1.8× GE HealthCare). GE HealthCare runs the higher net margin — 8.0% vs -2.7%, a 10.7% gap on every dollar of revenue. On growth, GE HealthCare posted the faster year-over-year revenue change (7.4% vs -5.7%). Warner Bros. Discovery produced more free cash flow last quarter ($1.4B vs $112.0M). Over the past eight quarters, GE HealthCare's revenue compounded faster (3.0% CAGR vs -2.5%).
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...
Warner Bros. Discovery, Inc. (WBD) is an American multinational mass media and entertainment conglomerate headquartered in New York City. It was formed from WarnerMedia's spin-off by AT&T and merger with Discovery, Inc. on April 8, 2022.
GEHC vs WBD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.1B | $9.5B |
| Net Profit | $411.0M | $-252.0M |
| Gross Margin | 38.5% | — |
| Operating Margin | 10.0% | 3.7% |
| Net Margin | 8.0% | -2.7% |
| Revenue YoY | 7.4% | -5.7% |
| Net Profit YoY | -31.0% | 49.0% |
| EPS (diluted) | $0.85 | $-0.10 |
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 | $9.5B | ||
| Q3 25 | $5.1B | $9.0B | ||
| Q2 25 | $5.0B | $9.8B | ||
| Q1 25 | $4.8B | $9.0B | ||
| Q4 24 | $5.3B | $10.0B | ||
| Q3 24 | $4.9B | $9.6B | ||
| Q2 24 | $4.8B | $9.7B |
| Q1 26 | $411.0M | — | ||
| Q4 25 | $588.0M | $-252.0M | ||
| Q3 25 | $446.0M | $-148.0M | ||
| Q2 25 | $486.0M | $1.6B | ||
| Q1 25 | $564.0M | $-453.0M | ||
| Q4 24 | $721.0M | $-494.0M | ||
| Q3 24 | $470.0M | $135.0M | ||
| Q2 24 | $428.0M | $-10.0B |
| Q1 26 | 38.5% | — | ||
| Q4 25 | 39.7% | — | ||
| Q3 25 | 38.7% | — | ||
| Q2 25 | 39.6% | — | ||
| Q1 25 | 42.1% | — | ||
| Q4 24 | 42.8% | — | ||
| Q3 24 | 41.7% | — | ||
| Q2 24 | 41.4% | — |
| Q1 26 | 10.0% | — | ||
| Q4 25 | 14.5% | 3.7% | ||
| Q3 25 | 12.7% | 6.8% | ||
| Q2 25 | 13.1% | -1.9% | ||
| Q1 25 | 13.2% | -0.4% | ||
| Q4 24 | 15.1% | 1.6% | ||
| Q3 24 | 13.9% | 2.9% | ||
| Q2 24 | 12.6% | -105.1% |
| Q1 26 | 8.0% | — | ||
| Q4 25 | 10.3% | -2.7% | ||
| Q3 25 | 8.7% | -1.6% | ||
| Q2 25 | 9.7% | 16.1% | ||
| Q1 25 | 11.8% | -5.0% | ||
| Q4 24 | 13.6% | -4.9% | ||
| Q3 24 | 9.7% | 1.4% | ||
| Q2 24 | 8.8% | -102.8% |
| Q1 26 | $0.85 | — | ||
| Q4 25 | $1.28 | $-0.10 | ||
| Q3 25 | $0.98 | $-0.06 | ||
| Q2 25 | $1.06 | $0.63 | ||
| Q1 25 | $1.23 | $-0.18 | ||
| Q4 24 | $1.58 | $-0.20 | ||
| Q3 24 | $1.02 | $0.05 | ||
| Q2 24 | $0.93 | $-4.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $4.6B |
| Total DebtLower is stronger | $10.1B | $32.4B |
| Stockholders' EquityBook value | $10.7B | $35.9B |
| Total Assets | $37.1B | $100.1B |
| Debt / EquityLower = less leverage | 0.95× | 0.90× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $4.5B | $4.6B | ||
| Q3 25 | $4.0B | $4.3B | ||
| Q2 25 | $3.7B | $4.9B | ||
| Q1 25 | $2.5B | $3.9B | ||
| Q4 24 | $2.9B | $5.3B | ||
| Q3 24 | $3.5B | $3.3B | ||
| Q2 24 | $2.0B | $3.6B |
| Q1 26 | $10.1B | — | ||
| Q4 25 | $10.0B | $32.4B | ||
| Q3 25 | $10.3B | $33.4B | ||
| Q2 25 | $10.3B | $34.4B | ||
| Q1 25 | $8.8B | $34.6B | ||
| Q4 24 | $9.0B | $36.8B | ||
| Q3 24 | $10.3B | $37.2B | ||
| Q2 24 | $9.2B | $37.3B |
| Q1 26 | $10.7B | — | ||
| Q4 25 | $10.4B | $35.9B | ||
| Q3 25 | $10.0B | $36.0B | ||
| Q2 25 | $9.7B | $36.0B | ||
| Q1 25 | $9.2B | $33.8B | ||
| Q4 24 | $8.4B | $34.0B | ||
| Q3 24 | $8.3B | $35.1B | ||
| Q2 24 | $7.8B | $34.3B |
| Q1 26 | $37.1B | — | ||
| Q4 25 | $36.9B | $100.1B | ||
| Q3 25 | $36.1B | $100.5B | ||
| Q2 25 | $35.5B | $101.7B | ||
| Q1 25 | $33.6B | $101.7B | ||
| Q4 24 | $33.1B | $104.6B | ||
| Q3 24 | $33.9B | $106.3B | ||
| Q2 24 | $31.9B | $108.0B |
| Q1 26 | 0.95× | — | ||
| Q4 25 | 0.96× | 0.90× | ||
| Q3 25 | 1.03× | 0.93× | ||
| Q2 25 | 1.06× | 0.95× | ||
| Q1 25 | 0.95× | 1.02× | ||
| Q4 24 | 1.06× | 1.08× | ||
| Q3 24 | 1.24× | 1.06× | ||
| Q2 24 | 1.18× | 1.09× |
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 | — | $1.8B |
| Free Cash FlowOCF − Capex | $112.0M | $1.4B |
| FCF MarginFCF / Revenue | 2.2% | 14.6% |
| Capex IntensityCapex / Revenue | — | 4.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $3.1B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | $979.0M | ||
| Q2 25 | $94.0M | $983.0M | ||
| Q1 25 | $250.0M | $553.0M | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | — | $847.0M | ||
| Q2 24 | $-119.0M | $1.2B |
| Q1 26 | $112.0M | — | ||
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $701.0M | ||
| Q2 25 | $8.0M | $702.0M | ||
| Q1 25 | $98.0M | $302.0M | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $632.0M | ||
| Q2 24 | $-183.0M | $976.0M |
| Q1 26 | 2.2% | — | ||
| Q4 25 | — | 14.6% | ||
| Q3 25 | — | 7.8% | ||
| Q2 25 | 0.2% | 7.2% | ||
| Q1 25 | 2.1% | 3.4% | ||
| Q4 24 | — | 24.2% | ||
| Q3 24 | — | 6.6% | ||
| Q2 24 | -3.8% | 10.0% |
| Q1 26 | — | — | ||
| Q4 25 | 2.4% | 4.5% | ||
| Q3 25 | 2.1% | 3.1% | ||
| Q2 25 | 1.7% | 2.9% | ||
| Q1 25 | 3.2% | 2.8% | ||
| Q4 24 | 1.9% | 2.9% | ||
| Q3 24 | 1.9% | 2.2% | ||
| Q2 24 | 1.3% | 2.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.19× | 0.62× | ||
| Q1 25 | 0.44× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.27× | ||
| Q2 24 | -0.28× | — |
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% |
WBD
| Distribution Revenue | $4.8B | 51% |
| Global Linear Networks | $4.2B | 44% |
| Service Other | $307.0M | 3% |
| Related Party | $204.0M | 2% |
| Other | $7.0M | 0% |
