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DHR

Danaher Corporation

DHR

Danaher Corporation • NYSE
$226.78 ▼ -0.74% (-1.68)
Market Cap $162.49 B
52w High $258.23
52w Low $171.00
Dividend Yield 1.23%
P/E 46.76
Volume 1.44M
Outstanding Shares 716.53M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $6.053B ▲ $2.369B ▼ $908M ▲ 15.001% ▲ $1.28 ▲ $1.765B ▲
Q2-2025 $5.936B ▲ $2.763B ▲ $555M ▼ 9.35% ▼ $0.77 ▼ $1.337B ▼
Q1-2025 $5.741B ▼ $2.237B ▲ $954M ▼ 16.617% ▲ $1.33 ▼ $1.792B ▼
Q4-2024 $6.538B ▲ $2.144B ▼ $1.086B ▲ 16.611% ▲ $1.5 ▲ $1.971B ▲
Q3-2024 $5.798B $2.443B $818M 14.108% $1.13 $1.655B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.528B ▼ $79.897B ▼ $28.826B ▼ $51.071B ▼
Q2-2025 $2.957B ▲ $81.62B ▲ $29.278B ▲ $52.334B ▲
Q1-2025 $1.993B ▼ $79.116B ▲ $28.259B ▲ $50.849B ▲
Q4-2024 $2.078B ▼ $77.542B ▼ $27.992B ▼ $49.543B ▼
Q3-2024 $2.627B $80.615B $29.31B $51.299B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $908M ▲ $1.662B ▲ $-312M ▼ $-2.724B ▼ $-782M ▼ $1.37B ▲
Q2-2025 $555M ▼ $1.338B ▲ $-258M ▼ $-247M ▲ $964M ▲ $1.09B ▲
Q1-2025 $954M ▼ $1.299B ▼ $-242M ▲ $-1.255B ▲ $-85M ▲ $1.054B ▼
Q4-2024 $1.086B ▲ $2.019B ▲ $-694M ▼ $-1.692B ▼ $-549M ▼ $1.503B ▲
Q3-2024 $818M $1.513B $-606M $-845M $253M $1.215B

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Revenue from Contract with Customer Measurement Nonrecurring
Revenue from Contract with Customer Measurement Nonrecurring
 $1.43Bn ▲$930.00M ▼$970.00M ▲$1.04Bn ▲
Revenue from Contract with Customer Measurement Recurring
Revenue from Contract with Customer Measurement Recurring
 $5.11Bn ▲$4.82Bn ▼$4.97Bn ▲$5.02Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Danaher’s revenue has leveled off after a surge during the pandemic years, especially from testing‑related businesses. In recent years, sales have been more or less flat, showing a shift from a “boom” period to a more normal demand environment. Profitability remains solid, but earnings are clearly down from their peak, reflecting lower pandemic-related sales and some pressure on margins. Even so, the company still earns healthy profits relative to its size, which suggests its core businesses remain strong, even if growth has cooled for now.

Balance Sheet

Balance Sheet The balance sheet looks generally sound and stable. Total assets have stayed fairly steady, while shareholders’ equity has grown over time, which means the company has been building its capital base. Debt has begun to trend down from earlier levels, so leverage is moving in a more conservative direction. Cash balances have moved up and down depending on acquisitions and other uses of funds, but there is no obvious sign of financial strain. Overall, the company appears to have a solid financial foundation with manageable debt and a strong equity cushion.

Cash Flow

Cash Flow Danaher consistently generates strong cash flow from its operations, even though cash generation has eased from the pandemic highs. Free cash flow remains robust and comfortably exceeds what the company spends on capital investments. Capital spending is fairly modest relative to cash generated, which indicates a business model that does not require heavy ongoing investment to sustain operations and growth. This cash flow profile gives Danaher flexibility to invest, acquire, pay down debt, and navigate industry cycles.

Competitive Edge

Competitive Edge Danaher holds a powerful position in life sciences, bioprocessing, and diagnostics, supported by a large installed base of instruments and recurring sales of consumables and services. Its competitive edge comes from the Danaher Business System, which drives continuous improvement across acquired companies, and from the high switching costs customers face once they embed Danaher tools into their workflows. The portfolio spans critical areas like biomanufacturing, molecular diagnostics, genomics, and lab automation, creating a broad ecosystem that is hard for competitors to match. Key risks include cyclical swings in bioprocessing demand, regulatory and reimbursement changes in healthcare, and execution risk in integrating acquisitions, but the underlying moat appears wide and durable.

Innovation and R&D

Innovation and R&D Innovation at Danaher is fueled as much by disciplined acquisitions as by internal R&D. Businesses like Cytiva, Pall, Cepheid, Beckman Coulter, Leica, IDT, Aldevron, Abcam and others provide cutting‑edge tools for biologics, gene and cell therapy, genomics, proteomics, and advanced diagnostics. The company is pushing further into areas like genomic medicine, companion diagnostics, and AI‑enabled instruments and software, aiming to make research and clinical testing faster, more precise, and more automated. Danaher’s approach is to buy leading technologies in attractive niches, then scale and refine them using its operating system. The main challenge is to keep that acquisition engine disciplined and to stay ahead as technologies and scientific methods evolve quickly.

Summary

Danaher has transitioned from a pandemic “windfall” period to a more normal growth phase, with revenue and earnings down from their peak but still solid. Its balance sheet is strong, with growing equity and gradually declining debt, and cash flows are robust and reliable, providing ample financial flexibility. Competitively, Danaher benefits from a deep installed base, recurring revenue, high switching costs, and a strong culture of operational excellence. Its innovation engine—driven by both R&D and acquisitions—keeps it well positioned in fast‑growing areas like bioprocessing, genomic and proteomic tools, and advanced diagnostics, including AI‑enabled solutions. Key watchpoints include the pace of recovery in bioprocessing and diagnostics demand, integration of recent acquisitions, and execution in emerging markets, but overall the company appears financially resilient with a strong strategic position in healthcare tools and diagnostics.

NEWS

November 28, 2025 · 6:34 PM UTC

HALPER SADEH LLC ENCOURAGES DANAHER CORPORATION SHAREHOLDERS TO CONTACT THE FIRM TO DISCUSS THEIR RIGHTS

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November 11, 2025 · 4:15 PM UTC

Danaher to Present at Jefferies Global Healthcare Conference

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October 30, 2025 · 4:10 PM UTC

DHR Investor News: Rosen Law Firm Announces Investigation of Breaches of Fiduciary Duties by the Directors and Officers of Danaher Corporation – DHR

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October 27, 2025 · 7:53 PM UTC

Rosen Law Firm Announces Investigation of Breaches of Fiduciary Duties by the Directors and Officers of Danaher Corporation - DHR

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October 26, 2025 · 5:50 PM UTC

DHR Announcement: Rosen Law Firm Investigates Breaches of Fiduciary Duties by the Directors and Officers of Danaher Corporation – DHR

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