Friday 6 November 2026 Export DHR’s income statement to Excel — free account

Danaher Corporation

DHR Healthcare Diagnostics & Research

Danaher Corporation’s revenue for fiscal 2025 (year ended December 2025) was $24.6 billion, up 2.90% from fiscal 2024.

Revenue: +8.28%
EPS: +36.7%
Free cash flow: +19.1%
Total debt: +44.9%

Quarter to September 2026, against a year earlier

S&P 500

229.63 3.29 +1.45%

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Market cap: $159.2B
P/E: 37.0×
Fwd P/E: 36.9×
Dividend yield: 0.67%
F-score: 6/9
Altman Z: 4.52
Beneish M: −2.57
Dividend safety: 69/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
P/E ratio Full definition →	18.80	22.80	24.08	33.05	39.46	33.12	23.65	36.40	43.07	45.15
Piotroski F-Score Full definition →	7	4	8	4	6	6	7	4	7	6
P/S ratio Full definition →	2.85	3.66	3.74	5.41	6.21	8.37	6.30	7.24	7.03	6.64
Altman Z-Score Full definition →	2.49	2.94	3.31	3.23	3.36	4.43	4.34	4.54	4.95	4.52
Altman Z″-Score (non-manufacturers) Full definition →	2.96	3.62	3.96	4.81	3.24	3.33	4.23	4.25	4.37	4.46
P/FCF ratio Full definition →	16.34	19.32	18.52	29.10	25.56	29.11	22.66	29.85	31.61	30.82
Beneish M-Score Full definition →	(2.57)	(2.45)	(2.74)	(2.80)	(2.22)	(2.50)	(2.68)	(2.63)	(2.73)	(2.57)
P/Operating CF Full definition →	74.07	68.03	51.53	87.15	62.35	88.97	66.07	106.81	83.11	77.07
Dividend Safety Score Full definition →	—	—	—	—	—	—	—	—	—	69
P/B ratio Full definition →	2.08	2.15	2.26	3.38	3.79	4.95	3.47	3.23	3.39	3.11
Price to Tangible BV Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EV/Sales Full definition →	3.36	4.28	4.26	5.50	6.89	9.16	6.79	7.69	7.59	7.20
EV/EBITDA Full definition →	14.70	18.02	17.17	22.09	23.77	26.73	18.72	24.91	25.03	24.79
EV/Operating CF Full definition →	16.12	19.12	18.07	24.92	24.75	27.18	21.24	25.65	27.10	27.58
EV/FCF Full definition →	19.30	22.62	21.10	29.58	28.35	31.85	24.42	31.72	34.14	33.43
Quick Ratio Full definition →	0.60	0.87	0.79	4.68	1.36	0.89	1.20	1.18	0.83	1.25
Current Ratio Full definition →	0.97	1.43	1.47	5.19	1.86	1.43	1.89	1.68	1.40	1.87
Net Debt/EBITDA Full definition →	2.25	2.63	2.10	0.36	2.35	2.30	1.35	1.47	1.85	1.93
Debt/Assets Full definition →	21.36%	22.14%	20.26%	34.66%	27.83%	26.65%	22.63%	19.77%	19.99%	22.06%
Debt/Equity Full definition →	0.42	0.39	0.34	0.71	0.53	0.49	0.38	0.31	0.31	0.35
Asset Turnover Full definition →	0.36	0.34	0.36	0.33	0.32	0.31	0.32	0.28	0.29	0.31
Operating CF/Net income Full definition →	1.38	1.40	1.52	1.34	1.77	1.33	1.20	1.51	1.72	1.78
Capex/Depreciation Full definition →	(0.51)	(0.48)	(0.49)	(0.52)	(0.35)	(0.58)	(0.52)	(0.63)	(0.58)	(0.46)
Interest Coverage Full definition →	14.83	18.36	22.30	30.27	15.39	27.61	36.94	18.19	17.49	17.70
ROE Full definition →	10.90%	10.08%	9.71%	10.33%	10.77%	15.99%	15.73%	9.31%	7.57%	7.08%
ROA Full definition →	5.46%	5.42%	5.61%	5.35%	5.08%	7.87%	8.48%	5.62%	4.81%	4.49%
ROIC Full definition →	5.38%	4.46%	5.14%	6.41%	4.81%	6.15%	7.45%	5.05%	4.83%	4.42%
Return on Tangible Assets Full definition →	119.05%	55.23%	58.89%	12.80%	36.33%	85.90%	63.40%	46.43%	50.71%	31.48%
Average Days of Receivables Full definition →	68.88	82.83	64.86	65.03	66.25	68.15	56.20	59.92	54.07	58.13
Research and Development Expense of Revenue Full definition →	5.78%	6.16%	6.21%	6.29%	6.05%	6.04%	5.74%	6.29%	6.63%	6.50%
Selling, General and Administrative Expense of Revenue Full definition →	33.31%	32.49%	31.62%	31.20%	30.95%	27.49%	26.74%	30.68%	32.50%	33.52%
Intangible Assets out of Total Assets Full definition →	0.79	0.79	0.69	0.52	0.74	0.77	0.68	0.74	0.76	0.73
Share Based Compensation of Revenue Full definition →	0.77%	0.82%	0.81%	0.89%	0.84%	0.74%	1.11%	1.28%	1.21%	1.21%
Graham Net Nets Full definition →	(0.32)	(0.24)	(0.20)	(0.06)	(0.16)	(0.13)	(0.11)	(0.10)	(0.11)	(0.11)
Graham Number Full definition →	52.72	55.25	58.54	60.83	76.03	107.58	121.28	102.66	90.16	91.70
Earnings Yield Full definition →	5.32%	4.39%	4.15%	3.03%	2.53%	3.02%	4.23%	2.75%	2.32%	2.21%
Free Cash Flow Yield Full definition →	6.12%	5.18%	5.40%	3.44%	3.91%	3.44%	4.41%	3.35%	3.16%	3.24%
Revenue per Share Full definition →	24.42	22.30	24.33	25.05	31.55	34.71	36.74	32.44	32.66	34.47
Operating CF per Share Full definition →	5.10	5.00	5.74	5.53	8.79	11.70	11.75	9.73	9.15	9.00
Capex per Share Full definition →	(0.84)	(0.77)	(0.82)	(0.87)	(1.12)	(1.72)	(1.53)	(1.86)	(1.89)	(1.58)
Free Cash Flow per Share Full definition →	4.26	4.22	4.92	4.66	7.67	9.98	10.22	7.87	7.26	7.43
Cash per Share Full definition →	1.39	0.91	1.12	27.85	8.55	3.62	8.27	7.96	2.84	6.48
Shareholders Equity per Share Full definition →	33.39	37.90	40.29	42.35	56.33	63.22	69.08	72.63	67.78	73.72
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	33.39	37.90	40.29	42.35	56.33	63.22	69.08	72.63	67.78	73.72
Free Cash Flow Full definition →	2,942.00	2,939.60	3,444.00	3,329.00	5,419.00	7,131.00	7,410.00	5,793.00	5,309.00	5,293.00
Working Capital Full definition →	(208.90)	2,057.70	2,252.30	20,664.00	6,400.00	3,508.00	7,494.00	5,663.00	2,699.00	5,949.00
Capital Expenditures Full definition →	(579.80)	(538.20)	(578.00)	(623.00)	(789.00)	(1,227.00)	(1,109.00)	(1,371.00)	(1,379.00)	(1,123.00)
Net Current Asset Value Full definition →	(15,553.40)	(13,430.80)	(12,512.00)	(6,204.00)	(22,582.00)	(26,359.00)	(18,377.00)	(17,061.00)	(18,495.00)	(18,167.00)
EV/EBIT Full definition →	20.76	25.85	23.79	30.13	36.31	35.62	24.01	35.33	37.27	37.73
Capex to Sales Full definition →	0.03	0.03	0.03	0.03	0.04	0.05	0.04	0.06	0.06	0.05
Price to Operating Income Full definition →	17.58	22.08	20.88	29.63	32.73	32.55	22.28	33.24	34.51	34.79
Other line items
Depreciation/Fixed assets Full definition →	0.48	0.46	0.52	0.52	0.68	0.56	0.57	0.48	0.48	0.44
Cash ROIC Full definition →	8.73%	7.88%	8.90%	4.64%	8.09%	10.20%	9.86%	7.62%	7.91%	7.00%
Accounts Receivable Turnover Full definition →	5.47	4.63	5.20	5.76	6.16	5.72	6.10	5.95	6.40	6.60
Accounts Payable Turnover Full definition →	5.25	4.64	5.02	5.27	5.50	4.14	4.73	5.44	5.50	5.59
Inventory Turnover Full definition →	4.60	3.91	4.35	4.86	5.00	3.78	3.78	3.68	3.93	4.17
Average Days of Payables Full definition →	71.81	79.33	72.35	69.76	76.24	98.05	64.80	65.40	66.17	67.00
Days of Inventory on Hand Full definition →	82.66	96.71	78.93	74.96	85.29	105.61	96.53	96.06	87.96	90.44
Average Receivables Full definition →	3,085.60	3,353.95	3,275.80	3,110.40	3,618.00	4,338.00	4,366.50	4,012.00	3,729.50	3,725.00
Average Payables Full definition →	1,438.45	1,497.45	1,502.65	1,505.20	1,782.00	2,309.00	2,212.50	1,811.00	1,759.50	1,798.50
Average Inventory Full definition →	1,641.25	1,775.10	1,736.10	1,629.70	1,960.00	2,529.50	2,766.00	2,679.50	2,462.00	2,409.50
Average Assets Full definition →	46,758.75	45,971.95	47,240.55	54,957.25	69,121.50	79,672.50	83,767.00	84,419.00	81,015.00	80,503.00
Average Common Equity Full definition →	23,420.40	24,722.30	27,297.25	28,454.35	32,595.50	39,209.00	45,165.50	50,956.00	51,520.00	51,045.50

Show all line items

Columns are period end dates · fundamentals updated 2 Nov 2026

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