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Profile & Fundamentals
Danaher (DHR.NYSE) Profile & Fundamentals
Review Danaher reported earnings, valuation, balance sheet and ownership, with source tables and separate AI assessments.
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Company and Market Context
Danaher: Company Profile & Ownership
Danaher Corporation designs, manufactures, and markets professional, medical, research, and industrial products and services in the United States, China, and internationally. The company operates through Biotechnology, Life Sciences, and Diagnostics segments. The Biotechnology segment provides technologies, consumables, services, and solutions that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, and aseptic fill finish; single-use hardware, consumables, and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services for diagnostic and assay development; and healthcare filtration solutions. The Life Sciences segment provides mass spectrometers; bioanalytical measurement systems; flow cytometry, genomics, lab automation, centrifugation, liquid handling automation instruments, antibodies and reagents, and particle counting and characterization; genome sample preparation; microscopes; protein consumables; filtration products; and genomic medicines, such as custom nucleic acid products, and plasmid DNA, RNA, and proteins under the ABCAM, ALDEVRON, BECKMAN COULTER, GENEDATA, IDT, LEICA MICROSYSTEMS, MOLECULAR DEVICES, PALL, PHENOMENEX, and SCIEX brands. The Diagnostics segment offers clinical instruments, consumables, software, and services that hospitals, physicians' offices, reference laboratories and other critical care settings use to diagnose disease and make treatment decisions. The company was formerly known as Diversified Mortgage Investors, Inc. and changed its name to Danaher Corporation in 1984. Danaher Corporation was incorporated in 1969 and is headquartered in Washington, the District Of Columbia.
Company profile record
Danaher Corporation
Common Stock · Health Care · Health Care Equipment
Company
- Company / asset
- Danaher Corporation
- Security type
- Common Stock
- Sector
- Health Care
- Industry
- Health Care Equipment
- HQ
- 🇺🇸 United States
- Head office
- 2200 Pennsylvania Avenue N.W., Washington, DC, United States, 20037-1701
Leadership & scale
- Chief executive
- Ms. Julie Sawyer Montgomery
- CEO year born
- 1972
- Full-time employees
- 58K
- Fiscal year end
- December
- IPO date
- 1979-01-05
Fundamentals snapshot
- Market Cap
- USD 162.7B
- P/E
- 37.6x
- Revenue (Q3 26)
- USD 6.6B
- Profit (Q3 26)
- USD 1.2B
- Dividend Yield
- 0.5%
- Revenue (FY 25)
- USD 24.6B
- Shares in public float
- 626.3M
- Insider ownership
- 10.81%
Reporting & identifiers
- Symbol
- DHR.NYSE
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- US2358511028
- Asset ID
- equity_e33a8f41-3166-50cb-a503-35881a40f87b
Danaher: Ownership
Shares Outstanding
Latest: 706.8M | Max: 746.1M | Min: 706.8M
Latest reported ownership snapshot
Float Shares
88.62%
626.3M latest reported shares
Insider Ownership
10.81%
Latest reported insider stake
Short Float
0.01%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 707,600,000 |
| 2018-01-01 | 711,200,000 |
| 2019-01-01 | 726,300,000 |
| 2020-01-01 | 724,500,000 |
| 2021-01-01 | 738,400,000 |
| 2022-01-01 | 745,700,000 |
| 2023-01-01 | 746,100,000 |
| 2024-01-01 | 737,200,000 |
| 2025-01-01 | 711,000,000 |
| 2026-01-01 | 706,800,000 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| BlackRock Inc | 55,084,630 | 7.84% | 2026-06-30 |
| Vanguard Capital Management, LLC | 41,377,076 | 5.89% | 2026-06-30 |
| FMR Inc | 29,540,895 | 4.2% | 2026-06-30 |
| State Street Corp | 28,456,019 | 4.05% | 2026-06-30 |
| Vanguard MStar Total Stk Mkt Idx Invest | 20,082,344 | 2.86% | 2026-09-30 |
| Vanguard 500 Index Investor | 16,429,531 | 2.34% | 2026-09-30 |
| Wellington Management Company LLP | 16,316,834 | 2.32% | 2026-06-30 |
| Capital Research & Mgmt Co - Division 3 | 15,504,420 | 2.21% | 2026-06-30 |
| Geode Capital Management, LLC | 14,280,335 | 2.03% | 2026-06-30 |
| Vanguard Portfolio Management, LLC | 14,205,213 | 2.02% | 2026-06-30 |
| JPMorgan Chase & Co | 12,185,400 | 1.73% | 2026-06-30 |
| T. Rowe Price Associates, Inc. | 11,450,715 | 1.63% | 2026-06-30 |
| Morgan Stanley - Brokerage Accounts | 11,348,958 | 1.61% | 2026-06-30 |
| Capital Research Global Investors | 10,818,030 | 1.54% | 2026-06-30 |
| NORGES BANK | 9,537,906 | 1.36% | 2026-06-30 |
Danaher: Earnings, Profitability & Valuation
Latest Financials Filed On
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
Danaher's financial story is one of steady stabilization after two difficult years of customer destocking. In fiscal 2025, revenue reached $24.6 billion, and the business generated $5.47 billion in free cash flow, demonstrating that cash generation remained exceptionally strong even when equipment sales were soft. Recent results confirm that customer order books have turned positive, with adjusted earnings growing steadily. While second-quarter 2026 revenue of $6.26 billion was temporarily held back by customer project shipment delays, underlying demand for bioprocessing consumables expanded at a mid-teens rate. As these delayed deliveries ship and recurring consumable purchases compound, operating leverage will drive durable, high-quality earnings growth.
Danaher's financial story is one of steady stabilization after two difficult years of customer destocking. In fiscal 2025, revenue reached $24.6 billion, and the business generated $5.47 billion in free cash flow, demonstrating that cash generation remained exceptionally strong even when equipment sales were soft. Recent results confirm that customer order books have turned positive, with adjusted earnings growing steadily. While second-quarter 2026 revenue of $6.26 billion was temporarily held back by customer project shipment delays, underlying demand for bioprocessing consumables expanded at a mid-teens rate. As these delayed deliveries ship and recurring consumable purchases compound, operating leverage will drive durable, high-quality earnings growth.
Revenue, Net Income, and Free Cash Flow
Latest: USD 24.6B | Max: USD 29.5B | Min: USD 2.5B
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 45x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Gross profit margins demonstrated exceptional resilience by expanding to 60.9% in fiscal 2025, proving that proprietary bioprocessing consumables and diagnostic cartridges carry immense pricing power. Operating profit margins stabilized near 20.9%, weighed down primarily by acquisition-related non-cash accounting charges and normalizing pandemic testing volumes. On an adjusted operational basis, margins held firm near 27%. As high-margin biomanufacturing volumes rebound and the Danaher Business System wrings operating efficiencies out of Masimo, consolidated operating margins are well positioned to expand structurally toward the high-twenties percentage range.
Gross profit margins demonstrated exceptional resilience by expanding to 60.9% in fiscal 2025, proving that proprietary bioprocessing consumables and diagnostic cartridges carry immense pricing power. Operating profit margins stabilized near 20.9%, weighed down primarily by acquisition-related non-cash accounting charges and normalizing pandemic testing volumes. On an adjusted operational basis, margins held firm near 27%. As high-margin biomanufacturing volumes rebound and the Danaher Business System wrings operating efficiencies out of Masimo, consolidated operating margins are well positioned to expand structurally toward the high-twenties percentage range.
Profitability Margins
Latest: 60.9% | Max: 61.0% | Min: 13.6%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
60.9%
Gross profit / revenue
Operating Margin
20.9%
Operating income / revenue
Net Margin
14.7%
Net income / revenue
FCF Margin
21.4%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 16,882,400,000 | 2,553,700,000 | 2,932,200,000 |
| 2017-12-31 | 18,329,700,000 | 2,492,100,000 | 2,907,100,000 |
| 2018-12-31 | 17,048,500,000 | 2,650,900,000 | 3,438,000,000 |
| 2019-12-31 | 17,911,100,000 | 2,557,200,000 | 3,316,100,000 |
| 2020-12-31 | 22,284,000,000 | 3,646,000,000 | 5,417,000,000 |
| 2021-12-31 | 29,453,000,000 | 6,433,000,000 | 7,064,000,000 |
| 2022-12-31 | 26,643,000,000 | 7,209,000,000 | 7,367,000,000 |
| 2023-12-31 | 23,890,000,000 | 4,743,000,000 | 5,781,000,000 |
| 2024-12-31 | 23,875,000,000 | 3,899,000,000 | 5,296,000,000 |
| 2025-12-31 | 24,568,000,000 | 3,614,000,000 | 5,260,000,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
Scroll the table to see every column.
| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 45 | Trailing four quarters |
| 2024-12-31 | 43.4 | Trailing four quarters |
| 2023-12-31 | 36.2 | Trailing four quarters |
| 2022-12-31 | 27.5 | Annual net income |
| 2021-12-31 | 37.8 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 55.58 | 17.69 | 15.13 | 17.37 |
| 2017-12-31 | 55.81 | 17.18 | 13.6 | 15.86 |
| 2018-12-31 | 55.75 | 18.01 | 15.55 | 20.17 |
| 2019-12-31 | 55.74 | 18.77 | 14.28 | 18.51 |
| 2020-12-31 | 55.98 | 19.35 | 16.36 | 24.31 |
| 2021-12-31 | 60.95 | 27.33 | 21.84 | 23.98 |
| 2022-12-31 | 60.76 | 28.29 | 27.06 | 27.65 |
| 2023-12-31 | 58.74 | 21.77 | 19.85 | 24.2 |
| 2024-12-31 | 59.5 | 21.71 | 16.33 | 22.18 |
| 2025-12-31 | 60.93 | 20.91 | 14.71 | 21.41 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Snapshot retrieved 2026-11-05.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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