Danaher Corp (DHR)

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.

Symbol
DHR
Exchange
NYSE
Sector
Healthcare
Industry
Diagnostics & Research
Market cap
$151.66B
52 week range
160.93 - 242.8

Valuation

Share price
$211.76 (close of 2026-10-01)
P/E (TTM)
38.19x
Price to book
2.88x
Price to free cash flow
27.75x
Enterprise value
$173.87B
Book value per share
$74.82

Price performance

PeriodChange
1 day-4.42%
5 days-5.37%
1 month+2.33%
3 months+9.31%
6 months+10.99%
Year to date-7.50%
1 year-0.53%
3 years-3.72%
5 years-20.99%
10 years+204.73%

Members of Congress who disclosed DHR trades

Julie Johnson · Jefferson Shreve · Robert Bresnahan · Kevin Hern · Lisa McClain · Thomas Kean · Alan Armstrong · Bruce Westerman · Dan Newhouse · Gilbert Ray Cisneros · Greg Landsman · Julia Letlow

And 4 others

Super investors holding DHR

Pat Dorsey (Dorsey Asset Management) · First Pacific Advisors (First Pacific Advisors, LP) · Dan Loeb (Third Point LLC) · Wallace Weitz (Weitz Investment Management) · Bill Gates (Gates Foundation Trust)

Profitability and growth

Return on equity
6.88%
Return on invested capital
6.00%
Return on assets
4.33%
Return on capital employed
6.12%
Gross margin
59.11%
Net margin
14.71%
EBITDA margin
22.14%
Revenue growth
2.90%
Net income growth
-7.31%
Free cash flow growth
-0.68%

Cash flow and balance sheet

Free cash flow yield (TTM)
3.60%
Current ratio
1.65x
Net debt to EBITDA
2.93x

Latest reported year

Period end
2025-12-31
Fiscal year
2025
Revenue
$24.57B
Cost of revenue
$10.04B
Gross profit
$14.52B
EBITDA
$5.44B
Net income
$3.61B
Earnings per share
$5.07
Research and development
$1.60B
Shares outstanding
712.70M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$24.57B$14.52B$3.61B$5.07
2024-12-31$23.88B$14.21B$3.90B$5.33
2023-12-31$23.89B$14.03B$4.76B$6.44
2022-12-31$26.64B$16.19B$7.21B$9.80
2021-12-31$24.80B$15.24B$6.43B$8.77
2020-12-31$22.28B$12.47B$3.65B$4.97
2019-12-31$17.91B$9.98B$3.01B$4.11
2018-12-31$17.05B$9.51B$2.65B$3.78
2017-12-31$15.52B$8.57B$2.49B$3.58
2016-12-31$16.88B$9.33B$2.55B$3.69

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3159.11%14.71%6.88%6.00%
2024-12-3159.50%16.33%7.87%6.37%
2023-12-3158.74%19.94%8.91%6.52%
2022-12-3160.76%27.06%14.39%10.38%
2021-12-3161.44%25.94%14.24%8.07%
2020-12-3155.98%16.36%9.17%6.05%
2019-12-3155.74%16.79%9.93%7.28%
2018-12-3155.75%15.55%9.39%6.72%
2017-12-3155.23%16.06%9.45%6.07%
2016-12-3155.29%15.13%11.07%6.62%

Cash and debt by year

Period endCashDebt
2025-12-31$4.62B$18.42B
2024-12-31$2.08B$15.50B
2023-12-31$5.86B$16.71B
2022-12-31$6.00B$19.09B
2021-12-31$2.59B$22.17B
2020-12-31$6.04B$21.19B
2019-12-31$19.91B$21.52B
2018-12-31$787.80M$9.69B
2017-12-31$630.30M$10.33B
2016-12-31$963.70M$9.67B

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$5.26B$298.00M
2024-12-31$5.30B$288.00M
2023-12-31$5.78B$306.00M
2022-12-31$7.40B$295.00M
2021-12-31$7.12B$184.00M
2020-12-31$5.42B$187.00M
2019-12-31$3.32B$159.00M
2018-12-31$3.44B$138.00M
2017-12-31$2.91B$127.10M
2016-12-31$2.93B$129.80M

Dividend history

Most recent payment
2026-09-30
Paid in the last twelve months
$1.52
Payment dateDividend per share
2026-09-30$0.40
2026-06-26$0.40
2026-03-27$0.40
2025-12-26$0.32
2025-09-26$0.32
2025-06-27$0.32
2025-03-28$0.32
2024-12-27$0.27

Investor relations

Next earnings report

Next confirmed report
2026-10-21
Consensus EPS estimate
$1.96

Past earnings dates

ReportedFiscal periodEPS estimate
2026-07-21Jun/2026$1.84
2026-04-21--
2026-01-28--
2025-10-21--
2025-07-22--
2025-07-21--
2025-04-22--
2025-04-21--

Filings and sources

Company website
danaher.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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