Danaher Corporation

Health Care Life Sciences Tools & Services Washington, D.C. Last filing Feb 24, 2026 · FY2025

                    Revenue
                    FY2025
                
$24.6B
                    3y CAGR -2.7%
                    
                    P10
                    
                    +2.9%
                    
                    Net income
                    FY2025
                
$3.6B
                    Net margin +14.7%
                    
                    P65
                    
                    -7.3%
                    
                    Total assets
                    FY2025
                
$83.5B
                    ROA +4.3%
                    
                    P37
                    
                    +7.6%
                    
                    Operating cash flow
                    FY2025
                
$6.4B
                    FCF margin +21.4%
                    
                    P78
                    
                    -4.1%

19 yrs · FY2007–FY2025 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

29 accounts · 10 years

Total assets $83.5B

Total liabilities ~$30.9B

Shareholders equity $52.5B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	5.5%	2.7%	6.9%	7.1%	3.1%	7.9%	32.1%	1.6%	1.4%	2.1%
Short Term Investments	0.0%	0.0%	0.0%	0.0%	0.0%	0.2%	0.2%	0.3%	0.0%	0.0%
Accounts Receivable	4.7%	4.6%	4.6%	5.8%	5.6%	5.3%	5.1%	7.3%	7.5%	7.0%
Inventory	3.0%	3.0%	3.1%	3.7%	3.3%	3.0%	2.6%	4.0%	3.9%	3.8%
Prepaid Expenses	2.1%	2.0%	1.8%	2.2%	2.0%	1.9%	1.4%	1.9%	1.8%	1.8%
Other Current Assets	5.0%	5.1%	4.3%	5.3%	4.5%	3.1%	2.8%	1.4%	1.2%	1.4%
Total Current Assets	15.3%	12.2%	16.5%	18.8%	14.0%	18.1%	41.2%	14.8%	14.7%	14.7%
Property,Plant and Equipment	6.6%	6.4%	5.4%	4.4%	4.6%	4.3%	3.7%	4.7%	5.3%	5.2%
Operating Lease Assets	1.5%	1.4%	1.2%	1.2%	1.3%	1.2%	1.2%	—	—	—
Goodwill	51.7%	52.2%	49.2%	44.2%	49.5%	46.5%	36.6%	47.2%	53.9%	52.6%
Intangible Assets	21.3%	23.9%	24.6%	24.1%	27.5%	27.9%	15.7%	24.4%	25.0%	26.1%
Other Noncurrent Assets	5.0%	5.1%	4.3%	5.3%	4.5%	3.1%	2.8%	1.4%	1.2%	1.4%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	2.2%	2.3%	2.1%	2.7%	3.1%	2.7%	2.4%	3.6%	3.2%	3.3%
Accrued Liabilities	5.9%	5.9%	5.7%	6.5%	6.7%	7.0%	5.2%	6.4%	6.6%	6.2%
Current Portion of Long Term Debt	0.0%	0.7%	2.0%	0.7%	0.0%	0.0%	0.3%	0.1%	0.4%	5.7%
Other Current Liabilities	6.8%	7.3%	7.1%	8.0%	9.3%	10.2%	8.6%	10.6%	11.1%	12.5%
Total Current Liabilities	8.2%	8.8%	9.8%	9.9%	9.8%	9.7%	7.9%	10.1%	10.3%	15.2%
Long Term Debt	22.1%	20.0%	19.8%	22.6%	26.6%	27.8%	34.7%	20.3%	22.1%	21.4%
Other Noncurrent Liabilities	6.8%	7.3%	7.1%	8.0%	9.3%	10.2%	8.6%	10.6%	11.1%	12.5%
Equity
Preferred Stock	0.0%	0.0%	0.0%	2.0%	3.9%	4.3%	2.6%	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	20.6%	21.6%	16.7%	14.3%	12.1%	12.7%	12.2%	12.2%	11.9%	11.7%
Retained Earnings	56.2%	57.0%	48.6%	46.5%	39.5%	35.7%	38.9%	52.6%	48.9%	45.7%
Treasury Stock	13.6%	10.5%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Accumulated Other Comprehensive Income	-0.2%	-4.2%	-2.1%	-3.4%	-1.2%	-0.5%	-4.9%	-5.8%	-4.3%	-6.7%
Noncontrolling Interest	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.2%
Total Stockholders Equity	62.9%	63.9%	63.3%	59.4%	54.3%	52.2%	48.8%	59.0%	56.5%	50.8%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

19 accounts · 10 years

Revenue $24.6B

Operating income $4.7B

Net income $3.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	29.4%	30.8%	28.3%	31.6%	29.8%	29.3%	28.9%	35.6%	33.3%	37.3%
Expenses Cost of Revenue	12.0%	12.5%	11.7%	12.4%	11.5%	12.9%	12.8%	15.8%	14.9%	16.7%
Expenses Research and Development	1.9%	2.0%	1.8%	1.8%	1.8%	1.8%	1.8%	2.2%	2.1%	2.2%
Expenses Selling,General and Administrative	9.9%	10.0%	8.7%	8.4%	8.2%	9.1%	9.0%	11.3%	10.8%	12.4%
Expenses Depreciation and Amortization	2.0%	2.1%	2.6%	2.5%	2.5%	2.3%	1.9%	2.5%	2.4%	2.5%
Expenses Share Based Compensation	0.4%	0.4%	0.4%	0.3%	0.2%	0.2%	0.3%	0.3%	0.3%	0.3%
Other Income Expense Gross Profit	17.4%	18.3%	16.6%	19.2%	18.3%	16.4%	16.1%	19.9%	18.4%	20.6%
Other Income Expense Operating Income	5.6%	6.3%	6.2%	8.9%	7.7%	5.6%	5.3%	6.4%	5.5%	6.0%
Other Income Expense Interest Income	0.0%	0.2%	0.4%	0.0%	0.0%	0.1%	0.2%	0.0%	0.0%	0.0%
Other Income Expense Interest Expense	0.3%	0.4%	0.3%	0.2%	0.3%	0.4%	0.2%	0.3%	0.3%	0.4%
Other Income Expense Other Income/expense	-0.3%	-0.1%	-0.2%	-0.3%	0.5%	0.6%	0.0%	0.1%	0.2%	0.5%
Other Income Expense Income Before Tax	5.1%	6.0%	6.0%	8.5%	7.8%	5.9%	5.3%	6.2%	5.5%	5.8%
Income Tax Income Tax Expense	0.8%	1.0%	1.0%	1.0%	1.3%	1.1%	1.4%	1.2%	0.8%	1.0%
net Income net Income	4.3%	5.0%	5.6%	8.5%	7.7%	4.8%	4.8%	5.5%	5.3%	5.6%
net Income Comprehensive Income	7.9%	3.1%	5.8%	6.4%	6.9%	8.3%	4.4%	4.2%	7.5%	4.1%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	0.9%	0.9%	0.9%	0.9%	0.9%	0.9%	1.2%	1.5%	1.5%	1.5%
Earnings Per Share Weighted Average Shares Diluted	0.9%	1.0%	0.9%	0.9%	0.9%	0.9%	1.2%	1.5%	1.5%	1.5%

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 10 years

Operating cash flow $6.4B

Investing cash flow $-1.2B

Financing cash flow $-3.0B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	4.3%	5.0%	5.6%	8.5%	7.7%	4.8%	4.8%	5.5%	5.3%	5.6%
Operating Activities Depreciation and Amortization	0.9%	0.9%	2.6%	2.5%	2.5%	2.3%	1.9%	2.5%	2.4%	2.5%
Operating Activities Stock Based Compensation	0.4%	0.4%	0.4%	0.3%	0.2%	0.2%	0.3%	0.3%	0.3%	0.3%
Operating Activities Deferred Income Taxes	0.5%	0.6%	1.4%	0.7%	0.1%	-0.7%	0.7%	0.5%	0.9%	0.8%
Operating Activities Changes In Operating Assets and Liabilities	0.4%	-0.9%	-1.3%	1.1%	1.8%	0.7%	0.2%	0.7%	0.2%	0.7%
Operating Activities net Cash From Operating Activities	7.7%	8.6%	8.5%	10.1%	10.0%	8.2%	6.4%	8.4%	7.5%	7.8%
Investing Activities Capital Expenditures	1.4%	1.8%	1.6%	1.3%	1.5%	1.0%	1.0%	1.2%	1.2%	1.3%
Investing Activities Business Acquisitions	0.0%	0.7%	6.6%	0.7%	13.1%	27.5%	0.5%	4.5%	0.8%	10.8%
Investing Activities Purchases of Investments	0.2%	0.4%	0.2%	0.6%	1.1%	0.4%	0.4%	0.3%	0.0%	0.0%
Investing Activities Other Investing Activities	-0.0%	-0.0%	-0.1%	-0.1%	-0.0%	-0.0%	-0.0%	-0.0%	0.0%	-0.0%
Investing Activities net Cash From Investing Activities	-1.4%	-2.6%	-8.4%	-2.6%	-15.6%	-27.9%	-2.0%	-6.2%	-1.8%	-11.6%
Financing Activities Repurchase of Common Stock	3.7%	7.7%	0.0%	0.0%	—	—	—	—	—	—
Financing Activities Dividends Paid	1.1%	1.0%	1.0%	1.0%	0.9%	0.8%	0.8%	0.9%	0.8%	0.9%
Financing Activities Proceeds From Stock Issuance	0.2%	0.3%	0.2%	0.2%	0.2%	0.3%	0.3%	0.3%	0.3%	0.4%
Financing Activities Tax Withholding On Stock Based Compensation	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	—
Financing Activities Other Financing Activities	-0.1%	-0.2%	-0.1%	-0.1%	-0.0%	-0.0%	-0.1%	-0.0%	-0.1%	-0.1%
Financing Activities net Cash From Financing Activities	-3.5%	-10.8%	-0.3%	-3.0%	1.6%	1.3%	26.4%	-1.7%	-6.6%	4.5%
Cash Reconciliation Effect of Exchange Rate On Cash	0.3%	-0.1%	0.1%	-0.4%	-0.1%	0.2%	0.1%	-0.2%	0.3%	-0.3%
Cash Reconciliation net Change In Cash	3.0%	-4.9%	-0.2%	4.0%	-4.1%	-18.2%	30.8%	0.3%	-0.7%	0.4%
Cash Reconciliation Cash At Beginning of Period	5.5%	2.7%	6.9%	7.1%	3.1%	7.9%	32.1%	1.6%	1.4%	2.1%
Cash Reconciliation Cash At End of Period	5.5%	2.7%	6.9%	7.1%	3.1%	7.9%	32.1%	1.6%	1.4%	2.1%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+59.1%	+59.5%	+58.7%	+60.8%	+61.4%	+56.0%	+55.7%	+55.8%	+55.2%	+55.3%
Operating margin	+19.1%	+20.4%	+21.8%	+28.3%	+25.7%	+19.0%	+18.3%	+17.9%	+16.6%	+16.2%
Net margin	+14.7%	+16.3%	+19.9%	+27.1%	+25.9%	+16.4%	+16.8%	+15.5%	+16.1%	+15.1%
FCF margin	+21.4%	+22.2%	+24.2%	+27.8%	+28.7%	+24.3%	+18.5%	+20.2%	+18.7%	+17.4%
Growth
Revenue CAGR (3y)	-2.7%	-1.3%	+2.3%	+14.2%	+13.3%	+12.8%	+2.0%	+5.7%	+6.4%	-2.6%
Returns
ROE	+6.9%	+7.9%	+8.9%	+14.4%	+14.2%	+9.2%	+9.9%	+9.4%	+9.5%	+11.1%
ROA	+4.3%	+5.0%	+5.6%	+8.5%	+7.7%	+4.8%	+4.8%	+5.5%	+5.3%	+5.6%
ROIC	+6.0%	+6.4%	+6.6%	+10.5%	+8.2%	+6.2%	+7.5%	+6.7%	+6.1%	+6.6%
Liquidity
Current ratio	1.87x	1.40x	1.68x	1.89x	1.43x	1.86x	5.19x	1.47x	1.43x	0.97x
Quick ratio	1.25x	0.83x	1.18x	1.30x	0.89x	1.36x	4.68x	0.88x	0.87x	0.60x
Leverage
D/E	0.59x	0.57x	0.58x	0.68x	0.84x	0.92x	1.05x	0.70x	0.77x	0.97x
Interest coverage	17.70x	17.49x	18.19x	36.94x	27.61x	15.39x	30.27x	22.30x	18.36x	14.83x
Efficiency
Asset turnover	0.29x	0.31x	0.28x	0.32x	0.30x	0.29x	0.29x	0.36x	0.33x	0.37x
Cash conversion cycle	+82d	+76d	+91d	+96d	+76d	+75d	+70d	+84d	+100d	+80d

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FY2025 fundamentals · no price

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Danaher Corporation

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