FUJIY vs GEHC: Which Is the Better Buy in 2026?
Last updated October 2026
Short answer
FUJIY (FUJIFILM Holdings) and GEHC (GE HealthCare) share investment themes but are different businesses. The right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme.
FUJIY vs GEHC: the tie-breaker metrics
Same yardstick, side by side (as of October 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.
| Metric | FUJIY | GEHC | What it tells you |
|---|---|---|---|
| Market cap | $25.91B | $31.65B | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Forward P/E | 13.54 | 12.86 | Valuation on next year's expected earnings, the same yardstick for both. Lower is cheaper for that growth; higher means the market is paying up. |
| Trailing P/E | 15.47 | 15.99 | Valuation on the last 12 months. A big drop from trailing to forward means the market expects earnings to jump, so more growth is already in the price. |
| Beta | 0.39 | 0.85 | Volatility vs the market. Above 1 swings harder than the index; below 1 is steadier. Higher beta means bigger drawdowns to hold through. |
| Price vs 52-week range | 58% of range | 35% of range | Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why. |
| Price / book | 1.05 | 2.86 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Before you buy: how FUJIY and GEHC affect your concentration
The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. FUJIY and GEHC share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.
This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined FUJIY and GEHC exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.
What does FUJIFILM Holdings (FUJIY) do?
FUJIFILM Holdings is best known for photographic film, but film is now a small slice of a ~¥3.4 trillion revenue company. It runs four segments. Healthcare covers medical imaging systems (X-ray, endoscopy, ultrasound, CT and MRI), life science reagents and, most importantly, Bio CDMO: contract manufacturing of biologic drugs for pharmaceutical customers. Electronics sells photoresists, CMP slurries and other semiconductor process materials, plus display films and data storage tape. Imaging includes the instax instant camera line and the X and GFX series of digital cameras. Business Innovation is the former Fuji Xerox office printing and document services arm. FUJIY is an OTC-traded ADR in which one ADR represents 0.5 of a Tokyo share (ticker 4901), which closed near ¥3,416 in late October 2026.
What does GE HealthCare (GEHC) do?
GE HealthCare is the medical technology business spun off from the former General Electric conglomerate as an independent company. It is one of the world's largest makers of medical imaging and diagnostic equipment. Its product portfolio spans MRI, CT, X-ray, ultrasound, and molecular imaging systems, plus contrast agents and radiopharmaceuticals used in scans, patient monitoring devices, and a growing suite of healthcare software and AI tools that help clinicians interpret images and manage care. GE HealthCare makes money by selling these large imaging systems to hospitals and clinics, and importantly through recurring revenue from service contracts, maintenance, software, and consumables like contrast media. With a large installed base of equipment worldwide, the company benefits from steady demand for diagnostics, an aging global population, and the growing role of AI in radiology. Headquartered in Chicago, it serves healthcare providers across developed and emerging markets and competes among the top global medical imaging vendors.
FUJIY vs GEHC: how do they differ?
Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.
- FUJIY drivers: Bio CDMO scale-up at Holly Springs and Denmark; Semiconductor materials riding AI chip demand.
- GEHC drivers: Large installed base and recurring revenue; AI and software in imaging.
Which fits which kind of investor
A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: The largest near-term risk is Bio CDMO execution. For GEHC, gE HealthCare sells capital equipment to hospitals, whose budgets can tighten during economic or fiscal pressure, delaying purchases.
FUJIY or GEHC: which should you pick?
FUJIY vs GEHC: the full fundamentals
FUJIY. Trailing figures combine the fiscal year ended March 2026 with the weaker June 2026 quarter, so trailing net income (~¥260 billion) sits below the full-year guide of ~¥280 billion. On that guide, forward earnings are roughly ¥234 per Tokyo share, or about ¥117 per ADR. The valuation sits between pure-play materials suppliers, which often trade above 20x, and office-equipment peers near 10x, which reflects the conglomerate mix. The stock is near the middle of its 52-week ADR range of ~$8.93 to ~$12.18.
GEHC. At about $70, GE HealthCare trades near 16x trailing and 13x forward earnings and about 11x EV/EBITDA, below where it stood at the start of 2026 after the shares fell about 15% year to date. Investors weigh steady diagnostics demand, recurring service revenue and AI-driven upgrades against hospital capital-spending cycles and spinoff debt. Q3 results on October 28 are expected to show EPS near $1.21; the 20-analyst mean target is about $83.
Headline figures (approximate, October 2026): FUJIY shows adr price ~$10.83 (1 ADR = 0.5 share; Tokyo ~¥3,416), market cap ~$26 billion (~¥4.1 trillion), revenue (ttm) ~¥3.43 trillion (~$21.8 billion), net income (ttm) ~¥260 billion (~$1.65 billion); GEHC shows revenue (ttm) ~$21.3 billion, revenue growth (q2 2026, yoy) ~6%, operating margin ~15%, net income (ttm) ~$2.0 billion.
The bottom line: FUJIY vs GEHC
FUJIY and GEHC are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined FUJIY and GEHC exposure against your real portfolio. It is not an investment adviser.
Wondering how FUJIY or GEHC fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in FUJIFILM Holdings with AI
Connect the broker you already use and ask Walnut's AI how FUJIY fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between FUJIY and GEHC?
+
FUJIFILM Holdings is best known for photographic film, but film is now a small slice of a ~¥3.4 trillion revenue company. GE HealthCare is the medical technology business spun off from the former General Electric conglomerate as an independent company. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is FUJIY or GEHC the better stock?
+
Neither is universally better; they suit different views and risk levels. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, FUJIY or GEHC?
+
On forward P/E (as of October 2026), FUJIY trades at 13.54x and GEHC at 12.86x, so GEHC is the cheaper of the two on next year's expected earnings. A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both FUJIY and GEHC?
+
Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of FUJIY vs GEHC?
+
FUJIY: The largest near-term risk is Bio CDMO execution. Regulatory inspection pauses at US plants and delayed profitability at Holly Springs already forced a ~¥28 billion cut to the Healthcare profit target, and further FDA observations, customer program cancellations or slower utilization would extend losses on a very large fixed-cost base. Electronics is cyclical and tied to chipmakers' capex and inventory swings, so a semiconductor downturn would hit the segment currently carrying the group. Currency is a two-way risk for ADR holders: a weaker yen flatters reported yen profits but lowers the dollar value of each ADR, while a sharp yen rally would reverse recent translation gains. US tariffs and higher raw material and energy costs (management flagged Middle East tensions) pressure margins. Business Innovation is a structurally declining office-print market, and a spin-off could disappoint. Finally, FUJIY trades over the counter with thinner liquidity and wider spreads than the Tokyo line, and dividends are paid in yen, converted, and may face Japanese withholding tax. GEHC: GE HealthCare sells capital equipment to hospitals, whose budgets can tighten during economic or fiscal pressure, delaying purchases. It faces intense competition from Siemens Healthineers, Philips, and others, and pricing pressure in mature imaging categories. Supply chain disruptions and component shortages can affect deliveries. As a recently independent company, it carries debt from the spinoff (Yahoo shows about $10.5 billion of debt against $2.1 billion of cash) and must execute on its own strategy. Regulatory approval, reimbursement changes, and product recalls are risks in medical devices. Currency swings affect its global revenue. Margins in hardware can be modest, and growth depends on successfully expanding higher-margin software, services, and contrast media against capable, well-resourced competitors. Quarterly results have been uneven in 2026, with a Q1 EPS miss followed by a Q2 beat, and the stock is still about 15% lower year to date, so another miss could weigh on sentiment.
Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell FUJIY or GEHC; figures are approximate and dated (as of October 2026). Verify current data before investing.