DANAHER CORP /DE/ DHR

Technology SIC 3823 - Industrial Instruments For Measurement, Display, and Control NAICS Manufacturing › Computer and Electronic Product Manufacturing › Navigational, Measuring, Electromedical, and Control Instruments Manufacturing › Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables derived NYSE

Danaher is a global science and technology innovator committed to accelerating the power of science and technology to improve human health. Danaher is comprised of more than 15 operating companies with leadership positions in the biotechnology, life sciences and diagnostics sectors, organized under three segments (Biotechnology, Life Sciences and Diagnostics). United by the DANAHER BUSINESS SYSTEM ("DBS"), our businesses are also typically characterized by a high level of products and services that are sold on a recurring basis, primarily through a direct sales model and to a geographically diverse customer base. Our business' research and development, manufacturing, sales, distribution, service and administrative facilities are located in approximately 50 countries.

Last close 230.50 2026-10-23
Market cap $162.04B 2026-06-26 share count
52-week range 160.93 - 242.80

Valuation FY2025 figures against the last close

P/S6.6x
P/E45.6x
P/FCF30.8x
EV/EBITDA32.3x
Dividend yield0.5%
Diluted EPS5.05

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • All other (each country individually less than 5% of total) - Reportable geographical components
  • U.S. - Reportable geographical components
  • China - Reportable geographical components
Revenue by geography, 3 categories over 3 years. The same figures are in the table below. FY2025 All other (each country individually less than 5% of total) - Reportable geographical components, FY2025: 12B (48.7%) 49% U.S. - Reportable geographical components, FY2025: 10B (40.6%) 41% U.S. - Reportable geographical components China - Reportable geographical components, FY2025: 2.6B (10.7%) 11% FY2024 All other (each country individually less than 5% of total) - Reportable geographical components, FY2024: 11.1B (46.7%) 47% U.S. - Reportable geographical components, FY2024: 9.9B (41.6%) 42% China - Reportable geographical components, FY2024: 2.8B (11.7%) 12% FY2023 All other (each country individually less than 5% of total) - Reportable geographical components, FY2023: 11.2B (46.7%) 47% U.S. - Reportable geographical components, FY2023: 9.6B (40.1%) 40% China - Reportable geographical components, FY2023: 3.1B (13.2%) 13%
Region FY2025FY2024FY2023
All other (each country individually less than 5% of total) - Reportable geographical components $11.96B $11.14B $11.17B
U.S. - Reportable geographical components $9.98B $9.93B $9.58B
China - Reportable geographical components $2.63B $2.81B $3.14B

As the company reported it, from the “Segment Information (Schedule of Operations in Geographical Areas) (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Revenue by segment

  • Diagnostics
  • Life Sciences
  • Biotechnology
Revenue by segment, 3 categories over 3 years. The same figures are in the table below. FY2025 Diagnostics, FY2025: 9.9B (40.5%) 40% Diagnostics Life Sciences, FY2025: 7.3B (29.9%) 30% Life Sciences Biotechnology, FY2025: 7.3B (29.7%) 30% Biotechnology FY2024 Diagnostics, FY2024: 9.8B (41.0%) 41% Life Sciences, FY2024: 7.3B (30.7%) 31% Biotechnology, FY2024: 6.8B (28.3%) 28% FY2023 Diagnostics, FY2023: 9.6B (40.1%) 40% Life Sciences, FY2023: 7.1B (29.9%) 30% Biotechnology, FY2023: 7.2B (30.0%) 30%
Segment FY2025FY2024FY2023
Diagnostics $9.94B $9.79B $9.58B
Life Sciences $7.33B $7.33B $7.14B
Biotechnology $7.29B $6.76B $7.17B

As the company reported it, from the “Segment Information (Segment Data) (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $24.57B$23.88B$23.89B$26.64B$24.80B$22.28B$17.91B$17.05B$15.52B$16.88B
Cost of revenue $10.04B$9.67B$9.86B$10.46B$9.56B$9.81B$7.93B$7.54B$6.95B$7.55B
Gross profit $14.52B$14.21B$14.03B$16.19B$15.24B$12.47B$9.98B$9.51B$8.57B$9.33B
R&D $1.60B$1.58B$1.50B$1.53B$1.50B$1.35B$1.13B$1.06B$956.4M$975.1M
SG&A $8.23B$7.76B$7.33B$7.12B$6.82B$6.90B$5.59B$5.39B$5.04B$5.62B
Operating income $4.69B$4.86B$5.20B$7.54B$6.38B$4.23B$3.27B$3.06B$2.57B$2.74B
Interest expense $265.0M$278.0M$286.0M$204.0M$231.0M$275.0M$108.0M$137.0M$140.1M$184.4M
Pre-tax income $4.23B$4.65B$5.04B$7.15B$6.51B$4.50B$3.31B$2.96B$2.54B$2.61B
Income tax $633.0M$747.0M$823.0M$818.0M$1.06B$849.0M$873.0M$556.0M$371.0M$457.9M
Net income $3.61B$3.90B$4.76B$7.21B$6.43B$3.65B$3.01B$2.65B$2.49B$2.55B
EPS, basic 5.075.336.449.808.774.974.113.783.583.69
EPS, diluted 5.055.296.389.668.614.894.053.743.533.65
Shares, diluted (wtd. avg.) 716.1M737.2M743.1M737.1M736.8M718.7M725.5M710.2M706.1M699.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $4.62B$2.08B$5.86B$6.00B$2.59B$6.04B$19.91B$788.0M$630.0M$963.7M
Receivables $3.91B$3.54B$3.92B$4.10B$4.63B$4.04B$3.19B$3.03B$3.52B$3.19B
Inventory $2.49B$2.33B$2.59B$2.77B$2.77B$2.29B$1.63B$1.63B$1.84B$1.71B
Total current assets $12.76B$9.50B$13.94B$15.88B$11.65B$13.80B$25.60B$7.09B$6.85B$6.67B
Property, plant and equipment $5.53B$4.99B$4.55B$3.71B$3.53B$3.26B$2.30B$2.25B$2.22B$2.35B
Goodwill $43.15B$40.50B$41.61B$37.28B$38.68B$35.42B$22.71B$22.58B$21.77B$23.83B
Other intangibles $17.82B$18.57B$20.75B$19.82B$22.84B$21.28B$9.75B$10.28B$11.67B$11.82B
Total assets $83.46B$77.54B$84.49B$84.35B$83.18B$76.16B$62.08B$47.83B$46.65B$45.30B
Short-term debt $2.0M$505.0M$1.70B$591.0M$8.0M$11.0M$212.0M$51.8M$194.7M$2.59B
Total current liabilities $6.81B$6.80B$8.27B$8.39B$8.14B$7.40B$4.93B$4.84B$4.79B$6.87B
Long-term debt $18.42B$15.50B$16.71B$19.09B$22.17B$21.19B$21.52B$9.69B$10.33B$9.67B
Retained earnings $46.89B$44.19B$41.07B$39.20B$32.83B$27.16B$24.17B$25.16B$22.81B$20.70B
Total equity $52.53B$49.54B$53.49B$50.09B$45.18B$39.78B$30.28B$28.23B$26.37B$23.00B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $6.42B$6.69B$7.16B$8.52B$8.36B$6.21B$3.95B$4.02B$3.48B$3.52B
Depreciation and amortisation $750.0M$721.0M$675.0M$698.0M$2.06B$1.77B$1.19B$1.18B$1.12B$1.13B
Stock-based compensation $298.0M$288.0M$306.0M$295.0M$184.0M$187.0M$159.0M$138.0M$127.1M$129.8M
Capital expenditure $1.16B$1.39B$1.38B$1.12B$1.24B$791.0M$636.0M$584.0M$570.7M$589.6M
Investing cash flow -$1.20B-$1.98B-$7.08B-$2.23B-$12.99B-$21.24B-$1.24B-$2.95B-$843.4M-$5.24B
Financing cash flow -$2.96B-$8.38B-$273.0M-$2.57B$1.29B$1.01B$16.36B-$797.0M-$3.10B$2.04B
Dividends paid $878.0M$768.0M$821.0M$818.0M$742.0M$615.0M$527.0M$433.0M$378.3M$399.8M
Buybacks $3.09B$5.98B$0$0——————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000313616-26-000062.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 10B 20B 30B Revenue, FY2016: 16.9B Gross profit, FY2016: 9.3B Net income, FY2016: 2.6B Revenue, FY2017: 15.5B Gross profit, FY2017: 8.6B Net income, FY2017: 2.5B Revenue, FY2018: 17B Gross profit, FY2018: 9.5B Net income, FY2018: 2.7B Revenue, FY2019: 17.9B Gross profit, FY2019: 10B Net income, FY2019: 3B Revenue, FY2020: 22.3B Gross profit, FY2020: 12.5B Net income, FY2020: 3.6B Revenue, FY2021: 24.8B Gross profit, FY2021: 15.2B Net income, FY2021: 6.4B Revenue, FY2022: 26.6B Gross profit, FY2022: 16.2B Net income, FY2022: 7.2B Revenue, FY2023: 23.9B Gross profit, FY2023: 14B Net income, FY2023: 4.8B Revenue, FY2024: 23.9B Gross profit, FY2024: 14.2B Net income, FY2024: 3.9B Revenue, FY2025: 24.6B Gross profit, FY2025: 14.5B Net income, FY2025: 3.6B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $16.88B $15.52B $17.05B $17.91B $22.28B $24.80B $26.64B $23.89B $23.88B $24.57B
Gross profit $9.33B $8.57B $9.51B $9.98B $12.47B $15.24B $16.19B $14.03B $14.21B $14.52B
Net income $2.55B $2.49B $2.65B $3.01B $3.65B $6.43B $7.21B $4.76B $3.90B $3.61B

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event Item 8.01
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Other event Item 8.01
  • Results announced Item 2.02
  • Material agreement signed Item 1.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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