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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. In the quarter to June 2026, revenue grew 5.54%, EPS grew 59.7%, free cash flow grew 15.6% and total debt rose 49.2%, each against the same quarter a year earlier. Member of the S&P 500.

228.97 2.53 −1.09%
Market cap
$162.7B
P/E
40.5×
Fwd P/E
29.2×
Dividend yield
0.66%
F-score
6/9
Altman Z
4.52
Beneish M
−2.57
Dividend safety
69/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Danaher Corporation (DHR) P/B ratio

Alert me on P/B ratio

As of 16 October 2026, Danaher Corporation (DHR) trades at a P/B ratio of 3.1×. Over the past ten years it has ranged from 1.6× (September 2015) to 5.3× (September 2021); the current reading is higher than 57% of that period. That is in line with the Diagnostics & Research industry median of 3.1× and above the Healthcare sector median of 2.3×.

P/B ratio, daily

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Annual newest first

Period P/B ratio Change
FY2025 3.1× (8.31%)
FY2024 3.4× 4.75%
FY2023 3.2× (7.15%)
FY2022 3.5× (29.99%)
FY2021 5.0× 30.56%
FY2020 3.8× 12.31%
FY2019 3.4× 49.48%
FY2018 2.3× 4.93%
FY2017 2.2× 3.37%
FY2016 2.1× 14.06%

Quarterly newest first

Period P/B ratio Change
Jun 2026 2.6× 0.79%
Mar 2026 2.5× (18.38%)
Dec 2025 3.1× 12.57%
Sep 2025 2.8× 2.01%
42 more quarters

Against its own ten years

Low 1.6× High 5.3×
Ten-year median 2.9×
Current reading's percentile 53

P/B ratio against peers

Company P/B ratio
WAT Waters Corporation compare 2.8×
DHR Danaher Corporation 3.1×
TMO Thermo Fisher Scientific Inc. compare 4.9×
A Agilent Technologies, Inc. compare 6.6×
IQV IQVIA Holdings Inc. compare 7.0×
ILMN Illumina, Inc. compare 13.9×
IDXX IDEXX Laboratories, Inc. compare 27.4×
NTRA Natera, Inc. compare 30.8×
MTD Mettler-Toledo International, Inc. compare 2,546×
Diagnostics & Research industry median 3.1×
Healthcare sector median 2.3×
Market median 1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

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