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%
                    
                    P63
                    
                    -7.3%
                    
                    Total assets
                    FY2025
                
$83.5B
                    ROA +4.3%
                    
                    P36
                    
                    +7.6%
                    
                    Operating cash flow
                    FY2025
                
$6.4B
                    FCF margin +21.4%
                    
                    P75
                    
                    -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 revenue.

Balance Sheet

Assets, liabilities, and equity

24 accounts · 5 years

Total assets $83.5B

Total liabilities ~$30.9B

Shareholders equity $52.5B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	18.8%	8.7%	24.5%	22.5%	10.4%
Accounts Receivable	15.9%	14.8%	16.4%	15.4%	18.7%
Inventory	10.1%	9.8%	10.9%	10.4%	11.2%
Prepaid Expenses	7.1%	6.5%	6.5%	6.5%	6.7%
Total Current Assets	51.9%	39.8%	58.3%	59.6%	47.0%
Property,Plant and Equipment	22.5%	20.9%	19.1%	13.9%	15.3%
Goodwill	175.6%	169.6%	174.2%	139.9%	166.1%
Intangible Assets	72.5%	77.8%	86.8%	74.4%	92.1%
Other Noncurrent Assets	17.1%	16.7%	15.3%	28.8%	15.0%
Total Assets	339.7%	324.8%	353.7%	316.6%	335.4%
Liabilities
Accounts Payable	7.5%	7.3%	7.4%	7.0%	10.4%
Accrued Liabilities	20.2%	19.0%	20.1%	18.1%	22.4%
Current Portion of Long Term Debt	0.0%	2.1%	7.1%	2.2%	0.0%
Total Current Liabilities	27.7%	28.5%	34.6%	31.5%	32.8%
Long Term Debt	75.0%	64.9%	69.9%	71.6%	89.4%
Other Noncurrent Liabilities	23.2%	23.8%	25.2%	25.5%	31.0%
Equity
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	70.0%	70.1%	67.7%	45.3%	40.7%
Retained Earnings	190.9%	185.1%	171.9%	147.1%	132.4%
Treasury Stock	46.2%	34.2%	8.5%	—	—
Accumulated Other Comprehensive Income	-0.8%	-13.5%	-7.3%	-10.8%	-4.1%
Total Stockholders Equity	213.8%	207.5%	223.9%	188.0%	182.1%
Noncontrolling Interest	0.0%	0.0%	0.0%	0.0%	0.0%
Total Liabilitiesand Equity	339.7%	324.8%	353.7%	316.6%	335.4%

Income Statement

Revenue, expense, and profitability

17 accounts · 5 years

Revenue $24.6B

Operating income $4.7B

Net income $3.6B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	40.9%	40.5%	41.3%	39.2%	38.6%
Other Income Expense Gross Profit	59.1%	59.5%	58.7%	60.8%	61.4%
Expenses Research and Development	6.5%	6.6%	6.3%	5.7%	6.0%
Expenses Selling,General and Administrative	33.5%	32.5%	30.7%	26.7%	27.5%
Other Income Expense Operating Income	19.1%	20.4%	21.8%	28.3%	25.7%
Other Income Expense Interest Income	0.1%	0.5%	1.3%	0.2%	0.0%
Other Income Expense Interest Expense	1.1%	1.2%	1.2%	0.8%	0.9%
Other Income Expense Other Income/expense	-0.9%	-0.2%	-0.7%	-0.9%	1.4%
Other Income Expense Income Before Tax	17.2%	19.5%	21.1%	26.8%	26.3%
Income Tax Income Tax Expense	2.6%	3.1%	3.4%	3.1%	4.3%
net Income Other Items Below Tax	0.1%	0.0%	2.2%	2.9%	3.3%
net Income net Income	14.7%	16.3%	19.9%	27.1%	25.9%
net Income Comprehensive Income	27.0%	10.2%	20.6%	20.1%	23.3%
Earnings Per Share Basic Eps	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%
Earnings Per Share Weighted Average Shares Diluted	2.9%	3.1%	3.1%	2.8%	3.0%

Cash Flow Statement

Operating, investing, and financing flows

22 accounts · 5 years

Operating cash flow $6.4B

Investing cash flow $-1.2B

Financing cash flow $-3.0B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	14.7%	16.3%	19.9%	27.1%	25.9%
Operating Activities Depreciation and Amortization	10.0%	10.0%	9.1%	8.0%	8.6%
Operating Activities Stock Based Compensation	1.2%	1.2%	1.3%	1.1%	0.7%
Operating Activities Deferred Income Taxes	-1.8%	-2.0%	-5.0%	-2.2%	-0.4%
Operating Activities Changes In Operating Assets and Liabilities	-1.1%	1.2%	3.1%	-3.1%	-1.9%
Operating Activities Other Non Cash Items	3.2%	1.3%	3.9%	4.4%	4.7%
Operating Activities net Cash From Operating Activities	26.1%	28.0%	30.0%	32.0%	33.7%
Investing Activities Capital Expenditures	-4.7%	-5.8%	-5.8%	-4.2%	-5.0%
Investing Activities Business Acquisitions	0.0%	-2.3%	-23.5%	-2.2%	-44.0%
Investing Activities Purchases of Investments	-0.5%	-1.4%	-0.7%	-2.0%	-3.7%
Investing Activities Proceeds From Sale of Investments	0.0%	1.1%	0.3%	0.1%	0.5%
Investing Activities Other Investing Activities	0.3%	0.2%	0.1%	-0.1%	-0.2%
Investing Activities net Cash From Investing Activities	-4.9%	-8.3%	-29.6%	-8.4%	-52.4%
Financing Activities Proceeds From Debt	6.3%	0.0%	0.0%	—	4.0%
Financing Activities Repayment of Debt	-2.0%	-7.0%	-2.6%	-3.6%	-5.2%
Financing Activities Repurchase of Common Stock	-12.6%	-25.0%	0.0%	0.0%	—
Financing Activities Dividends Paid	-3.6%	-3.2%	-3.4%	-3.1%	-3.0%
Financing Activities Proceeds From Stock Issuance	0.3%	0.7%	0.3%	0.1%	0.3%
Financing Activities Other Financing Activities	-0.6%	-0.5%	4.6%	-3.1%	9.1%
Financing Activities net Cash From Financing Activities	-12.1%	-35.1%	-1.1%	-9.6%	5.2%
Cash Reconciliation Effect of Exchange Rate On Cash	1.1%	-0.5%	0.2%	-1.1%	-0.5%
Cash Reconciliation net Change In Cash	10.3%	-15.9%	-0.5%	12.8%	-13.9%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+59.1%	+59.5%	+58.7%	+60.8%	+61.4%
Operating margin	+19.1%	+20.4%	+21.8%	+28.3%	+25.7%
Net margin	+14.7%	+16.3%	+19.9%	+27.1%	+25.9%
FCF margin	+21.4%	+22.2%	+24.2%	+27.8%	+28.7%
Growth
Revenue CAGR (3y)	-2.7%	-1.3%	+2.3%	+14.2%	+13.3%
Returns
ROE	+6.9%	+7.9%	+8.9%	+14.4%	+14.2%
ROA	+4.3%	+5.0%	+5.6%	+8.5%	+7.7%
ROIC	+6.0%	+6.4%	+6.6%	+10.5%	+8.2%
Liquidity
Current ratio	1.87x	1.40x	1.68x	1.89x	1.43x
Quick ratio	1.25x	0.83x	1.18x	1.20x	0.89x
Leverage
D/E	0.59x	0.57x	0.58x	0.68x	0.84x
Interest coverage	17.70x	17.49x	18.19x	36.94x	27.61x
Efficiency
Asset turnover	0.29x	0.31x	0.28x	0.32x	0.30x
Cash conversion cycle	+82d	+76d	+91d	+88d	+76d

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FY2025 fundamentals · no price

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Danaher Corporation

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