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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

228.41 2.07 +0.91%
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
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Danaher Corporation (DHR) Debt to equity

Alert me on Debt to equity

Danaher Corporation's debt to equity at the end of the quarter to 30 September 2026 was 0.5×, up 0.1× from fiscal 2025 (0.4×). Over the past ten years it has ranged from 0.3× (fiscal 2023) to 0.7× (fiscal 2019); the current reading is higher than 36% of that period. That is above the Diagnostics & Research industry median of 0.0× and above the Healthcare sector median of 0.0×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 0.4× 12.05%
FY2024 0.3× 0.16%
FY2023 0.3× (18.03%)
FY2022 0.4× (22.36%)
FY2021 0.5× (7.90%)
FY2020 0.5× (25.02%)
FY2019 0.7× 107.05%
FY2018 0.3× (12.38%)
FY2017 0.4× (6.56%)
FY2016 0.4× (17.15%)

Quarterly newest first

Period Debt to equity Change
Sep 2026 0.5× (4.91%)
Jun 2026 0.5× 44.21%
Mar 2026 0.3× (5.39%)
Dec 2025 0.4× 6.37%
43 more quarters

Against its own ten years

Low 0.3× High 0.7×
Ten-year median 0.4×
Current reading's percentile 36

Debt to equity against peers

Company Debt to equity
WAT Waters Corporation compare 0.0×
NTRA Natera, Inc. compare 0.0×
IDXX IDEXX Laboratories, Inc. compare 0.2×
DHR Danaher Corporation 0.5×
A Agilent Technologies, Inc. compare 0.5×
ILMN Illumina, Inc. compare 0.6×
TMO Thermo Fisher Scientific Inc. compare 0.7×
IQV IQVIA Holdings Inc. compare 2.4×
MTD Mettler-Toledo International, Inc. compare 165×
Diagnostics & Research industry median 0.0×
Healthcare sector median 0.0×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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