---
title: "GE HealthCare: Business Model"
description: "GE HealthCare revenue by business segment and geography from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/ge-healthcare/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# GE HealthCare: Business Model & Revenue Engine

## Direct Answer

GE HealthCare reports revenue across 4 business segments in its fiscal 2025 Form 10-K. Imaging is the largest, with $9.2 billion of revenue (45% of the total), followed by AVS at $5.4 billion (26%). 44% of revenue came from the United States.

## How Does GE HealthCare Make Money?

No single line supplies a majority of revenue: the largest, Imaging, is 45%, which spreads GE HealthCare's exposure across several demand drivers. Between fiscal 2024 and 2025, P Dx grew fastest (+15.6%) and PCS slowest (-1.2%), so the revenue mix tilts toward P Dx while that gap lasts.

| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Imaging | $9.2 billion | $8.9 billion | 44.8% | 4.4% |
| AVS | $5.4 billion | $5.1 billion | 26.0% | 4.3% |
| PCS | $3.1 billion | $3.1 billion | 15.0% | -1.2% |
| P Dx | $2.9 billion | $2.5 billion | 14.1% | 15.6% |

![Bar chart of GE HealthCare revenue by segment for fiscal 2025: Imaging 44.8%, AVS 26.0%, PCS 15.0%, P Dx 14.1%.](https://www.getswoopr.com/images/charts/ge-healthcare-business-model-segment-mix.webp)
*GE HealthCare revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## What Does GE HealthCare Sell?

GE HealthCare also breaks revenue down by product and service line, which shows what customers pay for rather than how management organizes the business.

| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Product | $13.7 billion | $13.1 billion | 66.2% | 4.5% |
| Service | $7.0 billion | $6.6 billion | 33.8% | 5.6% |

## Where Does GE HealthCare's Revenue Come From?

Regions follow the definitions in the filing; most companies assign revenue by customer location.

| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Other countries | $9.4 billion | $8.9 billion | 45.7% | 5.7% |
| United States | $9.2 billion | $8.6 billion | 44.5% | 6.4% |
| China | $2.0 billion | $2.1 billion | 9.8% | -4.9% |

## What the Segment Figures Do Not Show

The rows above add up to 100% of GE HealthCare's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value GE HealthCare reported in the segment note and revenue disclosures of its Form 10-K filed February 4, 2026 (accession 0001932393-26-000007), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are GE HealthCare's business segments?

In its fiscal 2025 Form 10-K, GE HealthCare reports revenue for Imaging, AVS, PCS and P Dx.

### Which part of GE HealthCare brings in the most revenue?

Imaging, with $9.2 billion of revenue in fiscal 2025, or 45% of the total.

### How much of GE HealthCare's revenue comes from outside the United States?

56% in fiscal 2025, by the geographic breakdown GE HealthCare reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.

## References

- [SEC EDGAR: GE HealthCare Technologies Inc. Form 10-K filed February 4, 2026](https://www.sec.gov/Archives/edgar/data/1932393/000193239326000007/gehc-20251231.htm)
- [SEC EDGAR: GE HealthCare Technologies Inc. annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1932393&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

## Related Pages

- [GE HealthCare company dossier](https://www.getswoopr.com/stocks/companies/ge-healthcare/)
- [GE HealthCare financial metrics](https://www.getswoopr.com/stocks/companies/ge-healthcare/metrics/)
- [GE HealthCare financial risk indicators](https://www.getswoopr.com/stocks/companies/ge-healthcare/risks/)
- [GE HealthCare peer comparison](https://www.getswoopr.com/stocks/companies/ge-healthcare/competitors/)
- [GE HealthCare business model and revenue mix](https://www.getswoopr.com/stocks/companies/ge-healthcare/business-model/)
- [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/)

**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

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