DHR

Danaher
D

DHR

Arincen73/100B

If you had invested in Danaher ago, it would be worth $3,406 today, against $4,096 in SPY and $6,368 in QQQ.

ArincenArincen ScoreBeta

73/100

Six parts of the company, five checks each, from its own reported figures. A part scores the checks it passes out of 10; the score is their average out of 100.

Profitability6

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Cash10

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Valuation8

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Growth6

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Financial strength6

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Shareholders8

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Figures to FY2025; the price as of today.

Danaher key facts

Style
Blend stock · 5.2/10Growth 3.3 · Value 5.2 · Dividend 2.8
Day range
230.170 – 232.910
52-week range
160.930 – 242.800
Market capitalization
162.65B USD
P/E
37.78
PEG ratio
1.95
EPS
6.12
Div Yield
0.69%
EPS growth forecast (FY2026)
+10.1%
Volume
20,299
Beta
0.80
ESG score
56.7/100Environment 54 · Social 56 · Governance 60
Sector
Healthcare
Industry
Medical - Diagnostics & Research
CEO
Julie Sawyer Montgomery
Employees
59K
IPO date
29 Dec 1978

Danaher earnings

Next earnings · Q4 FY2026
EPS estimate
2.49 USD
Revenue estimate
7.49B USD
Last quarter · Q3 FY2026
EPS2.11Beat +9.9%Revenue6.55BMissed -0.1%

Revenue

ReportedEstimate

EPS

ReportedEstimate
PeriodReport dateEPS estimateReported EPSSurpriseEPS growthRevenue estimateReported revenueSurpriseRevenue growth
Q3 FY20272.24——+6.32%6.89B——+5.06%
Q2 FY20272.13——+9.97%6.88B——+9.79%
Q1 FY20272.24——+8.76%6.63B——+11.39%
Q4 FY20262.49——+11.66%7.49B——+9.57%
Q3 FY20261.922.11+9.90%+11.64%6.56B6.55B-0.09%+8.28%
Q2 FY20261.851.94+4.86%+7.78%6.12B6.27B+2.35%+5.54%
Q1 FY20261.942.06+6.19%+9.57%5.98B5.95B-0.51%+3.66%
Q4 FY20252.162.23+3.24%+4.21%6.81B6.84B+0.40%+4.59%
Q3 FY20251.721.89+9.88%+10.53%6.00B6.05B+0.92%+4.40%
Q2 FY20251.641.80+9.76%+4.65%5.84B5.94B+1.68%+3.36%

Analysts' estimates for FY2026 over the last 7 days:EPS Revenue How the estimates moved

Danaher analyst forecast

12-month price target
238.77 USD
+3.28%

Analysts' 1-year price targets range from 195.00 to 275.00, with an average of 238.77.

Past year
1-year forecast
Strong sellStrong buy
Strong buy
16 ratings
Buy
14
Hold
2
Sell
0

12-month price target

Highest target275.00
Average target238.77
Lowest target195.00
Current price231.19

Danaher valuation

Price to earnings ratio (TTM)
37.78
Forward P/E (FY2026)
26.92
Price to sales (TTM)
6.35
Price to book
3.03
EV / EBITDA (TTM)
25.89

Capital structure

Market capitalization
162.65B USD
+
Total debt
26.48B USD
−
Cash and short-term investments
5.68B USD
=
Enterprise value
183.45B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate
Fiscal yearP/EForward P/EP/SP/BEV/EBITDA
FY2028 (est.)22.58————
FY2027 (est.)24.8322.58———
FY2026 (est.)26.9224.83———
Now (TTM)37.7825.086.353.0325.89
FY202545.1526.666.593.0825.30
FY202443.0729.687.033.3925.13
FY202335.9230.847.133.1924.54
FY202224.0135.716.403.4119.53
FY202133.2534.967.084.6122.89

Danaher against its own history

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Thermo Fisher Scientific, IDEXX Laboratories, Agilent Technologies, Waters, IQVIA Holdings, and Natera, the US Medical - Diagnostics & Research companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

  • P/E (today)Above its median37.8
    23.151.5
  • Gross marginAbove its median60.9%
    58.7%61.0%
    Against its peers: 3 of 7Peers' median 55.1%
  • Operating marginLowest in 5 years19.1%
    19.1%28.3%
    Against its peers: 4 of 7Peers' median 19.7%
  • Net marginLowest in 5 years14.7%
    14.7%27.1%
    Against its peers: 5 of 7Peers' median 16.9%
  • Return on equityLowest in 5 years6.9%
    6.9%14.4%
    Against its peers: 6 of 7Peers' median 20.1%
  • Free cash flow marginLowest in 5 years21.4%
    21.4%27.7%
    Against its peers: 2 of 7Peers' median 15.4%
  • Revenue growthAbove its median2.9%
    -10.3%32.2%
    Against its peers: 7 of 7Peers' median 6.9%
  • EPS growthAt its median-4.7%
    -33.8%76.1%
    Against its peers: 6 of 6Peers' median 4.7%
  • Debt to EBITDAHighest in 5 years2.65×
    2.17×2.65×
    Against its peers: 4 of 6Peers' median 1.83×
  • Current ratioAbove its median1.87
    1.401.89
    Against its peers: 4 of 7Peers' median 1.81

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Danaher growth and profitability

Revenue (TTM)
25.61B USD
Net income (TTM)
4.33B USD
Gross margin
58.59%
Operating margin
20.38%
Net margin
16.91%

Revenue / Net income

Revenue Net income Net margin
PeriodRevenueGrowthNet incomeGrowthGross marginOperating marginNet marginEBITDAGrowth
FY202524.57B+2.90%3.61B-7.31%60.93%19.09%14.71%6.95B-4.55%
FY202423.88B-0.06%3.90B-18.16%59.50%20.37%16.33%7.28B-2.97%
FY202323.89B-10.33%4.76B-33.92%58.74%21.77%19.94%7.50B-20.94%
FY202226.64B-9.54%7.21B+12.06%60.76%28.29%27.06%9.49B-5.22%
FY202129.45B+32.17%6.43B+76.44%60.95%21.65%21.84%10.01B+52.94%

Danaher revenue breakdown

By product

FY2025
Revenue from Contract with Customer, Measurement, Recurring: 81.9%Revenue from Contract with Customer, Measurement, Nonrecurring: 18.1%81.9%Revenue from Contract with Customer, Measurement, Recurring18.1%Revenue from Contract with Customer, Measurement, Nonrecurring
SegmentRevenueShare of revenueChange on the year
Revenue from Contract with Customer, Measurement, Recurring20.13B81.9%+3.9%
Revenue from Contract with Customer, Measurement, Nonrecurring4.44B18.1%-1.5%

By region

FY2025
Other developed markets: 82.0%China: 18.0%82.0%Other developed markets18.0%China
RegionRevenueShare of revenueChange on the year
Other developed markets11.96B82.0%+7.3%
China2.63B18.0%-6.2%

How Danaher makes its money

Revenue from Contract with Customer, Measurement, Recurring20.13B 81.9%
Revenue from Contract with Customer, Measurement, Nonrecurring4.44B 18.1%
Revenue24.57B 100.0%
Cost of revenue9.60B 39.1%
Gross profit14.97B 60.9%
Research and development1.60B 6.5%
Selling and administration8.24B 33.5%
Other operating expenses447.00M 1.8%
Operating income4.69B 19.1%
Tax619.00M 2.5%
Other expense457.00M 1.9%
Net income3.61B 14.7%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Danaher dividends

Annual dividend
1.60 USD
Dividend yield (indicated)
0.69%
Payout ratio
24.84%
Years of dividend growth
13
Frequency
Quarterly
Last payment
0.40 USD
Last ex-dividend date
30 Sept 2026
Last payment date
30 Oct 2026

Dividends per share

Year2025202420232022202120202019201820172016
Dividends per share1.231.050.970.850.720.630.590.550.4824.98

Danaher financial health

Cash and short-term investments
5.68B USD
Total debt
26.48B USD
Net cash
-20.80B USD
Free cash flow (TTM)
5.73B USD
Current ratio
1.63
Debt to equity
0.49
Piotroski score
7 / 9
Altman Z-score
3.79

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow
Fiscal yearCash and short-term investmentsTotal debtFree cash flow
FY20254.62B18.42B5.26B
FY20242.08B17.15B5.30B
FY20235.86B19.54B5.78B
FY20226.00B20.62B7.37B
FY20212.59B23.27B7.06B

Danaher ownership

Institutions
82.66%
Institutional holders
2,196 (-61)
Free float
89.03%

Who owns the shares

Institutions 82.7% Others 17.3%
As of 30 Jun 2026

Shares free to trade

Free float 626.35M shares ·89.0% Closely held 77.18M shares ·11.0%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

QuarterPurchasesSalesShares acquiredShares disposed of
Q4 20260641.48K1.09M
Q3 2026033.58M67.27K
Q2 20260123.50K4.94K
Q1 202601256.06K91.23K

Shares outstanding

Basic shares Diluted shares Change in diluted shares
Fiscal yearBasic sharesDiluted sharesChange in diluted shares
FY2025707.30M711.00M-3.55%
FY2024731.00M737.20M-0.79%
FY2023736.50M743.10M+0.81%
FY2022725.10M737.10M+0.04%
FY2021714.60M736.80M+2.52%

Source: Financial Modeling PrepVerified against SEC filings

Related Instruments

Title: Danaher Corp

Sector: Healthcare
Industry: Medical - Diagnostics & Research
Danaher Corp. is a diversified medical conglomerate that specializes in the design, manufacture and sales of medical, industrial, as well as commercial products and services. The company is named after Danaher Creek in Western Montana, where founders Steven M. Rales and Mitchell Rales conceptualized the company and its name while fishing. The firm was one of the original firms in North America to adopt Japanese “Kaizen” manufacturing principles that focus on continuous improvement and reduction of waste. The company operates in the following platforms: Life Sciences, Diagnostics and Environmental & Applied Solutions. Danaher Corp. has been ranked as high as 130th on the Fortune 500 list of top American companies by revenue. The company is headquartered in Washington DC.

Common questions about Danaher stock