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Danaher Corporation DHR SPX

Healthcare · Diagnostics & Research · United States
https://www.danaher.com

Danaher Corporation designs, manufactures, and markets professional, medical, research, and industrial products and services in the United States, China, and internationally. The company operates through Biotechnology, Life Sciences, and Diagnostics segments. The Biotechnology segment provides technologies, consumables, services, and solutions that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, and aseptic fill finish; single-use hardware, consumables, and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services for diagnostic and assay development; and healthcare filtration solutions. The Life Sciences segment provides mass spectrometers; bioanalytical measurement systems; flow cytometry, genomics, lab automation, centrifugation, liquid handling automation instruments, antibodies and reagents, and particle counting and characterization; genome sample preparation; microscopes; protein consumables; filtration products; and genomic medicines, such as custom nucleic acid products, and plasmid DNA, RNA, and proteins under the ABCAM, ALDEVRON, BECKMAN COULTER, GENEDATA, IDT, LEICA MICROSYSTEMS, MOLECULAR DEVICES, PALL, PHENOMENEX, and SCIEX brands. The Diagnostics segment offers clinical instruments, consumables, software, and services that hospitals, physicians' offices, reference laboratories and other critical care settings use to diagnose disease and make treatment decisions. The company was formerly known as Diversified Mortgage Investors, Inc. and changed its name to Danaher Corporation in 1984. Danaher Corporation was incorporated in 1969 and is headquartered in Washington, the District Of Columbia.

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$182.67
-3.14% 1Y

Market & Price

Market Cap
$129.29B
Current Price
$182.67
High / Low (52W)
$241.54 / $161.91
Beta
0.84

Valuation

Stock P/E
35.47
Industry PE
23.65
Forward P/E
20.08
PEG Ratio
1.16
Book Value
$74.82
Price to Book
2.44
P/S
5.22
EV/EBITDA
18.06
Dividend Yield
0.88%

Profitability & Returns

ROCE
5.87%
ROE
7.08%
ROA
4.19%
Profit Margin
14.89%
Op Margin
22.94%
EPS (Latest Qtr)
$1.45
EPS (TTM)
$5.15

Balance Sheet & Liquidity

Debt/Equity
0.37
Quick Ratio
1.40
Current Ratio
1.87
Debt
$19.68B
Total Assets
$83.46B
Current Assets
$12.76B
Working Capital
$5.95B

Ownership

Promoter Holding
10.74%
Chg in Prom Hold
-
FII / Inst Holding
84.59%
Chg in FII Hold
-0.03%

Financial Snapshot

Enterprise Value
$143.28B
Total Revenue (TTM)
$24.78B
EBITDA
$7.94B
Free Cash Flow
$4.57B
Operating Cash Flow
$6.44B
Shares Outstanding
707.77M
Gross Margin
58.99%
Payout Ratio
26.36%

Growth (CAGR)

Revenue 5Y
-2.67%
Profit 5Y
-20.56%
Revenue (YoY)
3.70%
Earnings (YoY)
9.80%

PROS

  • Generates positive free cash flow.

CONS

  • Revenue declined at -2.7% CAGR over 5 years.
  • Earnings shrank at -20.6% CAGR over 5 years.
  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Healthcare).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 DHR Danaher Corporation SPX 182.67 35.47 $129.29B 0.88% 5.87% 7.08% -2.67% -20.56%
2 LLY Eli Lilly and Company SPX 1,105.00 39.21 $985.37B 0.63% 38.44% 107.46% 31.69% 48.96%
3 JNJ Johnson & Johnson SPX 225.33 26.11 $542.42B 2.38% 23.13% 26.42% 5.60% 14.32%
4 UNH UnitedHealth Group Incorporated SPX 380.31 28.66 $345.38B 2.32% 9.60% 12.18% 11.35% -15.69%
5 MRK Merck & Co., Inc. SPX 118.72 33.44 $293.22B 2.86% 20.66% 18.94% 3.12% 7.93%
6 TMO Thermo Fisher Scientific Inc. SPX 492.51 27.11 $183.03B 0.38% 9.17% 13.52% -0.27% -1.19%
7 AMGN Amgen Inc. NDXSPX 336.79 23.42 $181.77B 2.99% 18.02% 101.32% 11.77% 5.58%
8 GILD Gilead Sciences, Inc. NDXSPX 134.43 18.29 $166.90B 2.44% 22.92% 43.36% 2.57% 22.83%
9 ISRG Intuitive Surgical, Inc. NDXSPXAI 424.64 51.53 $150.39B - 15.96% 17.23% 17.39% 29.26%
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Quarterly Results

Figures in USD.

Metric Dec 2015Apr 2016Jul 2016Sep 2016Dec 2016Mar 2017Jun 2017Sep 2017Dec 2017Mar 2018Jun 2018Sep 2018Dec 2018Mar 2019Jun 2019Sep 2019Dec 2019Apr 2020Jul 2020Oct 2020Apr 2021Jul 2021Oct 2021Apr 2022Jul 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue ---------4.02B4.25B4.17B4.60B4.22B4.44B4.38B4.87B4.34B5.30B5.88B6.86B7.22B7.23B6.53B6.53B6.46B7.13B5.95B5.91B5.62B6.41B5.80B5.74B--5.74B5.94B6.05B6.84B5.95B
Cost of Revenue -----------------------------------2.23B2.41B2.53B2.87B2.36B
Gross Profit 2.26B2.17B2.38B2.29B2.50B2.33B2.48B2.54B2.84B2.27B2.39B2.31B2.53B2.35B2.48B2.44B2.70B2.44B2.85B3.23B4.25B4.40B4.36B4.06B4.01B3.89B4.23B3.66B3.32B3.27B3.78B3.49B3.43B--3.51B3.52B3.52B3.97B3.59B
Operating Expenses -----------------------------------2.24B2.76B2.37B2.46B2.25B
Operating Income 651.60M613.10M710.10M699.10M728.60M617.00M676.70M759.20M937.50M687.50M758.90M745.30M863.40M719.70M811.70M776.30M961.70M698.00M844.00M1.09B2.00B2.00B1.31B1.93B1.89B1.72B2.00B1.52B1.16B1.19B1.34B1.31B1.17B--1.27B760.00M1.15B1.50B1.34B
EBITDA -----------------------------------1.79B1.34B1.76B2.05B1.93B
Interest Expense -----------------------------------72.00M71.00M67.00M55.00M63.00M
Pretax Income -----------------------------------1.13B655.00M1.08B1.37B1.24B
Tax Provision -----------------------------------175.00M100.00M168.00M190.00M206.00M
Net Income 688.60M758.40M656.70M391.60M747.00M506.10M557.30M572.10M856.60M566.60M673.80M663.70M746.80M333.80M731.30M668.00M-595.00M927.00M883.00M1.70B1.78B1.16B1.73B1.68B1.57B-1.45B1.11B1.13B-1.09B907.00M--954.00M555.00M908.00M1.20B1.03B
Diluted EPS 0.991.090.940.561.070.720.790.811.210.800.950.931.050.460.970.891.730.811.241.162.292.401.542.312.252.102.991.941.491.511.451.451.22--1.320.771.271.681.45
R&D Expense -226.10M239.90M241.10M-267.40M283.30M279.20M-298.70M311.70M301.20M-267.50M282.10M282.60M-287.00M323.00M342.00M380.00M426.00M441.00M441.00M431.00M420.00M-373.00M361.00M362.00M-368.00M391.00M383.00M-379.00M403.00M378.00M-387.00M

Profit & Loss (Annual)

Figures in USD.

Metric Dec 2007Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Revenue ----------15.52B17.05B17.91B22.28B-26.64B23.89B23.88B24.57B
Cost of Revenue ---------------10.46B9.86B9.67B10.04B
Gross Profit -5.94B5.07B6.40B8.18B9.41B9.34B6.85B7.77B9.33B8.57B9.51B9.98B12.47B-16.19B14.03B14.21B14.52B
Operating Expenses ---------------8.65B8.83B9.34B9.83B
Operating Income 1.74B1.87B1.44B2.05B2.62B3.17B3.12B2.04B2.16B2.74B2.57B3.06B3.27B4.23B-7.54B5.20B4.86B4.69B
EBITDA ---------------9.48B7.50B7.28B6.95B
Interest Expense ---------------204.00M286.00M278.00M265.00M
Pretax Income ---------------7.15B5.04B4.65B4.23B
Tax Provision ---------------818.00M823.00M747.00M633.00M
Net Income 1.37B1.32B1.15B1.79B2.17B2.39B2.69B2.60B3.36B2.55B2.49B2.65B3.01B3.65B-7.21B4.76B3.90B3.61B
Diluted EPS 4.191.981.732.643.113.363.803.634.743.653.533.744.054.89-9.666.385.295.05
R&D Expense 601.42M725.44M600.27M774.00M1.02B1.14B1.10B769.40M861.40M975.10M956.40M1.06B1.13B1.35B1.50B1.53B1.50B1.58B1.60B

Compounded Sales Growth

5 Years:-2.67%
1 Year:3.70%

Compounded Profit Growth

5 Years:-20.56%
1 Year:9.80%

Stock Price Performance

1 Year:-3.14%
6 Months:-20.56%
3 Months:-13.09%
1 Month:+2.16%

Balance Sheet (Annual)

Figures in USD.

Metric Dec 2006Dec 2007Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Total Assets --17.49B19.60B22.22B29.95B32.94B34.67B36.99B48.22B45.30B46.65B47.83B62.08B76.16B-84.35B84.49B77.54B83.46B
Current Assets ----------------15.88B13.94B9.50B12.76B
Cash & Equivalents 317.81M239.11M392.85M1.72B1.63B537.00M1.68B3.12B3.01B790.80M963.70M630.30M787.80M19.91B--6.00B5.86B2.08B4.62B
Inventory ----------------2.77B2.59B2.33B2.49B
Receivables ----------------4.10B3.92B3.54B3.91B
Total Liabilities --7.68B7.97B8.44B-----------34.26B31.00B27.99B30.92B
Current Liabilities --2.75B2.76B3.32B4.17B4.21B4.53B5.40B6.17B6.87B4.79B4.84B4.93B7.40B-8.39B8.27B6.80B6.81B
Long Term Debt --2.55B2.89B2.78B5.21B5.29B3.44B3.40B12.03B9.67B10.33B9.69B21.52B21.19B-19.09B16.71B15.50B18.42B
Total Debt ----------------20.62B19.54B17.15B19.70B
Total Equity --9.81B11.63B13.71B16.90B19.02B22.39B23.38B23.69B23.00B26.36B28.21B30.27B39.77B-50.08B53.49B49.54B52.53B
Shares Outstanding ----------------869.30M880.50M884.30M886.90M

Cash Flows (Annual)

Figures in USD.

Metric Dec 2007Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Operating Cash Flow 1.65B1.86B1.80B2.08B2.63B3.42B3.59B3.76B3.80B3.52B3.48B4.02B3.95B6.21B-8.52B7.16B6.69B6.42B
Investing Cash Flow -3.45B-567.40M-942.94M-2.29B-5.85B-1.89B-552.50M-3.44B-14.95B-5.24B-843.40M-2.95B-1.24B-21.24B--2.23B-7.08B-1.98B-1.20B
Financing Cash Flow 1.71B-1.12B407.23M116.80M2.09B-388.40M-1.61B-218.20M9.05B2.04B-3.10B-797.00M16.36B1.01B--2.57B-273.00M-8.38B-2.96B
Capital Expenditure -162.07M-193.78M-175.44M-191.10M-334.50M-458.30M-538.10M-465.40M-512.90M-589.60M-570.70M-584.00M-636.00M-791.00M--1.12B-1.38B-1.39B-1.16B
Free Cash Flow 1.48B1.67B1.63B1.89B2.29B2.96B3.05B3.29B3.29B2.93B2.91B3.44B3.32B5.42B-7.40B5.78B5.30B5.26B
Net Change in Cash ---------------3.71B-190.00M-3.68B2.26B
Share Buybacks 117.49M74.17M0-0648.40M00-------005.98B3.09B
Dividends Paid 34.27M38.26M41.72M52.20M61.30M86.40M52.10M227.70M354.10M399.80M378.30M433.00M527.00M615.00M742.00M818.00M821.00M768.00M878.00M

Ratios (Annual)

Figures in %.

Metric Dec 2007Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Gross Margin % ----------55.2%55.8%55.7%56.0%-60.8%58.7%59.5%59.1%
Operating Margin % ----------16.6%17.9%18.3%19.0%-28.3%21.8%20.4%19.1%
Net Margin % ----------16.1%15.5%16.8%16.4%-27.1%19.9%16.3%14.7%
ROE % -13.4%9.9%13.1%12.9%12.6%12.0%11.1%14.2%11.1%9.5%9.4%9.9%9.2%-14.4%8.9%7.9%6.9%
ROCE % -12.7%8.6%10.8%10.2%11.0%10.4%6.5%5.1%7.1%6.1%7.1%5.7%6.2%-9.9%6.8%6.9%6.1%

Shareholding Pattern

Insiders
10.74%
Institutions
84.59%
Public Float
94.76%

Top Institutional Holders

#Holder% HeldSharesValue
1 Blackrock Inc. 7.30% 51.64M $9.43B
2 Vanguard Capital Management LLC 5.81% 41.13M $7.51B
3 State Street Corporation 3.94% 27.89M $5.10B
4 FMR, LLC 3.18% 22.53M $4.12B
5 JPMORGAN CHASE & CO 2.39% 16.92M $3.09B
6 Price (T.Rowe) Associates Inc 2.17% 15.35M $2.80B
7 Wellington Management Group, LLP 2.09% 14.77M $2.70B
8 Geode Capital Management, LLC 2.00% 14.15M $2.58B
9 Capital International Investors 1.98% 14.01M $2.56B
10 Vanguard Portfolio Management LLC 1.97% 13.95M $2.55B

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