DHR · Danaher Corp /De/ - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $24.57B | $23.88B | $23.89B | $31.47B | $29.45B | $22.28B |
| Cost of Revenue | $10.04B | $9.67B | $9.86B | $12.52B | $11.50B | $9.81B |
| Gross Profit | $14.52B | $14.21B | $14.03B | $18.95B | $17.95B | $12.47B |
| R&D | $1.60B | $1.58B | $1.50B | $1.75B | $1.74B | $1.35B |
| SG&A | $8.23B | $7.76B | $7.33B | $8.52B | $8.20B | $6.90B |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $750.00M | $721.00M | $2.17B | $2.22B | $2.17B | $1.77B |
| Operating Income | $4.69B | $4.86B | $5.20B | $8.69B | $7.46B | $4.23B |
| Interest Expense | $265.00M | $278.00M | $286.00M | $211.00M | $238.00M | $275.00M |
| Income Tax | $633.00M | $747.00M | $823.00M | $1.08B | $1.25B | $849.00M |
| Net Income | $3.61B | $3.90B | $4.76B | $7.21B | $6.43B | $3.65B |
| EPS - Basic | $5.07 | $5.33 | $6.44 | $8.69 | $7.77 | $4.41 |
| EPS - Diluted | $5.05 | $5.29 | $6.38 | $8.56 | $7.63 | $4.34 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.62B | $2.08B | $5.86B | $6.00B | $2.59B | $630.00M |
| Accounts Receivable | $3.91B | $3.54B | $3.92B | $4.92B | $4.63B | $4.04B |
| Inventory | $2.49B | $2.33B | $2.59B | $3.11B | $2.77B | $2.29B |
| Accounts Payable | $1.84B | $1.75B | $1.77B | $2.30B | $2.57B | $2.05B |
| Current Assets | $12.76B | $9.50B | $13.94B | $15.88B | $11.65B | $13.80B |
| Total Assets | $83.46B | $77.54B | $84.49B | $84.35B | $83.18B | $76.16B |
| Current Liabilities | $6.81B | $6.80B | $8.27B | $8.39B | $8.14B | $7.40B |
| Long-term Debt | $18.42B | $15.50B | $16.71B | $19.09B | $22.17B | $21.19B |
| Total Liabilities | - | - | - | - | - | - |
| Stockholders' Equity | $52.53B | $49.54B | $53.49B | $50.08B | $45.17B | $39.77B |
| Retained Earnings | $46.89B | $44.19B | $41.07B | $39.20B | $32.83B | $27.16B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $6.42B | $6.69B | $7.16B | $8.52B | $8.36B | $6.21B |
| Investing Cash Flow | ($1.20B) | ($1.98B) | ($7.08B) | ($2.23B) | ($12.99B) | ($21.24B) |
| Financing Cash Flow | ($2.96B) | ($8.38B) | ($273.00M) | ($2.57B) | $1.29B | $1.01B |
| CapEx | $1.16B | $1.39B | $1.38B | $1.15B | $1.29B | $791.00M |
| Free Cash Flow | $5.26B | $5.30B | $5.78B | $7.37B | $7.06B | $5.42B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 59.1% | 59.5% | 58.7% | 60.2% | 61.0% | 56.0% |
| Operating margin | 19.1% | 20.4% | 21.8% | 27.6% | 25.3% | 19.0% |
| EBITDA margin | 22.1% | 23.4% | 30.8% | 34.7% | 32.7% | 27.0% |
| Net margin | 14.7% | 16.3% | 19.9% | 22.9% | 21.8% | 16.4% |
| Free cash flow margin | 21.4% | 22.2% | 24.2% | 23.4% | 24.0% | 24.3% |
| FCF / Net income | 1.46 | 1.36 | 1.21 | 1.02 | 1.10 | 1.49 |
| R&D / Revenue | 6.5% | 6.6% | 6.3% | 5.5% | 5.9% | 6.0% |
| SG&A / Revenue | 33.5% | 32.5% | 30.7% | 27.1% | 27.8% | 30.9% |
| Effective tax rate | 14.9% | 16.1% | 14.7% | 13.1% | 16.3% | 18.9% |
| Return on assets | 4.3% | 5.0% | 5.6% | 8.5% | 7.7% | 4.8% |
| Return on equity | 6.9% | 7.9% | 8.9% | 14.4% | 14.2% | 9.2% |
| Return on invested capital | 5.6% | 6.3% | 6.3% | 10.9% | 9.3% | 5.6% |
| Liquidity | ||||||
| Current ratio | 1.87 | 1.40 | 1.68 | 1.89 | 1.43 | 1.86 |
| Quick ratio | 1.51 | 1.05 | 1.37 | 1.52 | 1.09 | 1.55 |
| Cash ratio | 0.68 | 0.31 | 0.71 | 0.71 | 0.32 | 0.09 |
| Leverage | ||||||
| Debt / Equity | 0.35 | 0.31 | 0.31 | 0.38 | 0.49 | 0.53 |
| Debt / Assets | 0.22 | 0.20 | 0.20 | 0.23 | 0.27 | 0.28 |
| Debt / EBITDA | 3.39 | 2.78 | 2.27 | 1.75 | 2.30 | 3.53 |
| Interest coverage | 17.7x | 17.5x | 18.2x | 41.2x | 31.4x | 15.4x |
| Equity multiplier | 1.59 | 1.57 | 1.58 | 1.68 | 1.84 | 1.92 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 0.29 | 0.31 | 0.28 | 0.37 | 0.35 | 0.29 |
| Inventory turnover | 4.04 | 4.15 | 3.80 | 4.03 | 4.16 | 4.28 |
| Days sales outstanding | 58d | 54d | 60d | 57d | 57d | 66d |
| Days inventory outstanding | 90d | 88d | 96d | 91d | 88d | 85d |
| Days payable outstanding | 67d | 66d | 65d | 67d | 82d | 76d |
| Cash conversion cycle | 82d | 76d | 91d | 81d | 64d | 75d |
| Valuation | ||||||
| P / E | 45.3x | 43.4x | 36.3x | 27.5x | 38.2x | 45.4x |
| P / B | 3.1x | 3.4x | 3.2x | 3.5x | 4.8x | 3.6x |
| P / S | 6.7x | 7.1x | 7.2x | 5.5x | 7.3x | 6.4x |
| EV / EBITDA | 32.7x | 32.7x | 24.8x | 17.1x | 24.3x | 27.0x |
| Growth | ||||||
| Revenue growth (YoY) | 2.9% | -0.1% | -24.1% | 6.9% | 32.2% | 24.4% |
| Revenue CAGR (3y) | -7.9% | -6.8% | 2.3% | 20.7% | 14.0% | 6.7% |
| Revenue CAGR (5y) | 2.0% | 5.9% | 3.7% | 11.4% | 11.8% | 1.6% |
| Gross profit growth (YoY) | 2.2% | 1.2% | -25.9% | 5.6% | 43.9% | 25.0% |
| Operating income growth (YoY) | -3.6% | -6.5% | -40.1% | 16.4% | 76.4% | 29.4% |
| Net income growth (YoY) | -7.3% | -18.2% | -33.9% | 12.1% | 76.4% | 21.2% |
| EPS growth (YoY) | -4.5% | -17.1% | -25.5% | 12.2% | 76.1% | 7.0% |
| EPS CAGR (3y) | -16.1% | -11.5% | 13.7% | 28.4% | 26.8% | 7.1% |
| EPS CAGR (5y) | 3.1% | 5.5% | 11.3% | 19.4% | 15.9% | -1.8% |
| FCF growth (YoY) | -0.7% | -8.4% | -21.5% | 4.3% | 30.4% | 63.4% |
| FCF CAGR (5y) | -0.6% | 9.8% | 11.4% | 20.8% | 19.2% | 11.3% |
| Book value growth (YoY) | 6.0% | -7.4% | 6.8% | 10.9% | 13.6% | 31.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$24.57B totalDiagnostics Segment$9.94B · 40.5%
Life Sciences Segment$7.33B · 29.9%
Biotechnology Segment$7.29B · 29.7%
Product / service
$7.29B totalRevenuefrom Contractwith Customer Measurement Recurring$6.42B · 88.1%
Revenuefrom Contractwith Customer Measurement Nonrecurring$869.00M · 11.9%
Geographic
$31.86B totalAll Other Countries$11.96B · 37.5%
US$9.98B · 31.3%
CN$2.63B · 8.3%
Western Europe$2.56B · 8.0%
North America$2.42B · 7.6%
High Growth Markets$1.98B · 6.2%
Other Developed Markets$341.00M · 1.1%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Industrial Instruments For Measurement, Display, and Control
Comparing DANAHER CORP /DE/ against the 5 most active filers in the same SIC group.
Dividends
$1.36/share trailing 12 months · +20.4% YoY
| Ex-date | Per share |
|---|---|
| Mar 27, 2026 | $0.4000 |
| Dec 26, 2025 | $0.3200 |
| Sep 26, 2025 | $0.3200 |
| Jun 27, 2025 | $0.3200 |
| Mar 28, 2025 | $0.3200 |
| Dec 27, 2024 | $0.2700 |
| Sep 27, 2024 | $0.2700 |
| Jun 28, 2024 | $0.2700 |
| Mar 27, 2024 | $0.2700 |
| Dec 28, 2023 | $0.2400 |
| Oct 11, 2023 | $0.2700 |
| Jun 29, 2023 | $0.2394 |
| Mar 30, 2023 | $0.2394 |
| Dec 29, 2022 | $0.2216 |
| Sep 29, 2022 | $0.2216 |
| Jun 23, 2022 | $0.2216 |
| Mar 24, 2022 | $0.2216 |
| Dec 29, 2021 | $0.1862 |
| Sep 29, 2021 | $0.1862 |
| Jun 24, 2021 | $0.1862 |
| Mar 25, 2021 | $0.1862 |
| Dec 24, 2020 | $0.1596 |
| Sep 25, 2020 | $0.1596 |
| Jun 25, 2020 | $0.1596 |