Abbott Laboratories vs GE HealthCare
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The short version
- Abbott Laboratories is the larger business, with $44.3B of revenue in fiscal 2025 against $20.6B for GE HealthCare, about 2.1 times as much.
- Abbott Laboratories grew revenue faster (5.7%, against 4.8%).
- Abbott Laboratories kept more of each dollar of sales as operating profit (18.2% operating margin, against 13.4%).
- Abbott Laboratories turned more of its sales into free cash flow (16.7% FCF margin, against 7.3%).
- GE HealthCare earned a higher return on the capital invested in it (13.3%, against 11.2%).
- Investors pay more for each dollar of Abbott Laboratories’s earnings: a P/E of 29.0x against 17.1x for GE HealthCare.
| Latest fiscal year | ABT · FY25 | GEHC · FY25 |
|---|---|---|
| Size | ||
| Market cap | $181.2B | $32.7B |
| Revenue | $44.3B | $20.6B |
| Free cash flow | $7.4B | $1.5B |
| Net income | $6.5B | $2.1B |
| Growth | ||
| Revenue growth | 5.7% | 4.8% |
| 5-year growth | 5.1% | — |
| Share count change | 0.0% | −0.2% |
| Profitability | ||
| Gross margin | 56.4% | 40.0% |
| Operating margin | 18.2% | 13.4% |
| Net margin | 14.7% | 10.1% |
| FCF margin | 16.7% | 7.3% |
| Return on capital | 11.2% | 13.3% |
| Return on equity | 13.1% | 22.1% |
| Balance sheet | ||
| Net debt | $4.0B | $6.0B |
| Net debt / EBITDA | 0.4x | 1.8x |
| Dividends and buybacks | $5.0B | $264M |
| Valuation & quality | ||
| P/E | 29.0x | 17.1x |
| Piotroski F-score | 6 | 7 |
Revenue
FY16
ABT $20.9B
GEHC —
FY17
ABT $27.4B
GEHC —
FY18
ABT $30.6B
GEHC —
FY19
ABT $31.9B
GEHC —
FY20
ABT $34.6B
GEHC —
FY21
ABT $43.1B
GEHC $17.6B
FY22
ABT $43.7B
GEHC $18.3B
FY23
ABT $40.1B
GEHC $19.6B
FY24
ABT $42.0B
GEHC $19.7B
FY25
ABT $44.3B
GEHC $20.6B
ABT
GEHC
Operating margin
FY16
ABT 14.5%
GEHC —
FY17
ABT 5.7%
GEHC —
FY18
ABT 11.9%
GEHC —
FY19
ABT 14.2%
GEHC —
FY20
ABT 15.5%
GEHC —
FY21
ABT 19.6%
GEHC 15.9%
FY22
ABT 19.2%
GEHC 13.8%
FY23
ABT 16.2%
GEHC 12.5%
FY24
ABT 16.3%
GEHC 13.3%
FY25
ABT 18.2%
GEHC 13.4%
ABT
GEHC
Free cash flow
FY16
ABT $2.1B
GEHC —
FY17
ABT $4.4B
GEHC —
FY18
ABT $4.9B
GEHC —
FY19
ABT $4.5B
GEHC —
FY20
ABT $5.7B
GEHC —
FY21
ABT $8.6B
GEHC $1.4B
FY22
ABT $7.8B
GEHC $1.8B
FY23
ABT $5.1B
GEHC $1.7B
FY24
ABT $6.4B
GEHC $1.6B
FY25
ABT $7.4B
GEHC $1.5B
ABT
GEHC
Return on capital
FY16
ABT 9.5%
GEHC —
FY17
ABT 2.1%
GEHC —
FY18
ABT 6.2%
GEHC —
FY19
ABT 9.0%
GEHC —
FY20
ABT 10.7%
GEHC —
FY21
ABT 16.4%
GEHC —
FY22
ABT 16.0%
GEHC —
FY23
ABT 12.4%
GEHC 10.7%
FY24
ABT 13.6%
GEHC 13.4%
FY25
ABT 11.2%
GEHC 13.3%
ABT
GEHC
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.