Financials

Danaher Corporation financials

DHR Life Sciences Tools and Services

Danaher Corporation, founded in 1969, is a global science and technology innovator specializing in life sciences, diagnostics, and environmental solutions. The company employs a strategic model centered on acquisitions and continuous operational improvement via the Danaher Business System. Its flagship offerings, such as Beckman Coulter diagnostic instruments and Leica Microsystems imaging systems, highlight its commitment to technological precision. Led by CEO Thomas P. Joyce since 2000 and reporting approximately $32 billion in revenue in fiscal 2022, Danaher is well-positioned for continued growth through advanced technology investments.

Snapshot

Danaher Corporation reported $24.57B in revenue in fiscal 2025, up 2.9% year over year, with an operating margin of 19.1%.

Revenue (FY2025): $24.57B
YoY growth: +2.9%
Operating margin: 19.1%
Direction: Expanding

Financial statements

In thousands, USD · annual

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Total Revenues	24,568,000	23,875,000	23,890,000	26,643,000
Cost of Sales	10,045,000	9,669,000	9,856,000	10,455,000
Gross Profit	14,523,000	14,206,000	14,034,000	16,188,000
Selling, General & Administrative Expenses	8,235,000	7,759,000	7,329,000	7,124,000
Research & Development Expenses	1,598,000	1,584,000	1,503,000	1,528,000
Operating Profit	4,690,000	4,863,000	5,202,000	7,536,000
Interest and Investment Income	30,000	117,000	303,000	41,000
Interest Expense	(265,000)	(278,000)	(286,000)	(204,000)
Non-Operating Income	(222,000)	(56,000)	(175,000)	(227,000)
Total Non-Operating Income	(457,000)	(217,000)	(158,000)	(390,000)
Income Before Provision for Income Taxes	4,233,000	4,646,000	5,044,000	7,146,000
Provision for Income Taxes	633,000	747,000	823,000	818,000
Consolidated Net Income	3,600,000	3,899,000	4,221,000	6,328,000
Net Income Attributable to Preferred Dividends	—	—	21,000	106,000
Net Income Attributable to Discontinued Operations	14,000	—	543,000	881,000
Net Income Attributable to Common Shareholders	3,614,000	3,899,000	4,743,000	7,103,000
Basic EPS	5.07	5.33	6.44	8.58
Diluted EPS	5.05	5.29	6.38	8.47
Basic Weighted Average Shares Outstanding	712,700	731,000	736,500	725,100
Diluted Weighted Average Shares Outstanding	716,100	737,200	743,100	737,100
Shares Outstanding	706,900	719,100	739,200	728,300

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Cash and Cash Equivalents	4,615,000	2,078,000	5,864,000	5,995,000
Total Cash and Cash Equivalents	4,615,000	2,078,000	5,864,000	5,995,000
Accounts Receivable	3,913,000	3,537,000	3,922,000	4,102,000
Total Trade Receivables	3,913,000	3,537,000	3,922,000	4,102,000
Inventories	2,489,000	2,330,000	2,594,000	2,765,000
Other Current Assets	1,739,000	1,552,000	1,557,000	3,021,000
Total Current Assets	12,756,000	9,497,000	13,937,000	15,883,000
Net Property, Plant & Equipment	5,531,000	4,990,000	4,553,000	3,709,000
Net Intangible Assets	17,817,000	18,568,000	20,746,000	19,821,000
Goodwill	43,151,000	40,497,000	41,608,000	37,276,000
Other Long-Term Assets	4,209,000	3,990,000	3,644,000	7,661,000
Total Assets	83,464,000	77,542,000	84,488,000	84,350,000
Accounts Payable	1,844,000	1,753,000	1,766,000	1,856,000
Accrued Expenses	4,961,000	4,540,000	4,813,000	4,815,000
Short-Term Debt	2,000	505,000	1,695,000	591,000
Other Current Liabilities	—	—	—	1,127,000
Total Current Liabilities	6,807,000	6,798,000	8,274,000	8,389,000
Long-Term Debt	18,416,000	15,500,000	16,707,000	19,086,000
Other Long-Term Liabilities	5,700,000	5,694,000	6,017,000	6,785,000
Total Long-Term Liabilities	24,116,000	21,194,000	22,724,000	25,871,000
Total Liabilities	30,923,000	27,992,000	30,998,000	34,260,000
Preferred Stock	—	—	—	1,668,000
Common Stock	9,000	9,000	9,000	9,000
Treasury Stock	(11,353,000)	(8,163,000)	(2,019,000)	—
Additional Paid-in Capital	17,194,000	16,727,000	16,170,000	12,072,000
Accumulated Other Comprehensive Income	(207,000)	(3,218,000)	(1,748,000)	(2,872,000)
Retained Earnings	46,891,000	44,188,000	41,074,000	39,205,000
Total Common Shareholders' Equity	52,534,000	49,543,000	53,486,000	50,082,000
Minority Interests and Other	7,000	7,000	4,000	8,000
Total Shareholders' Equity	52,541,000	49,550,000	53,490,000	50,090,000
Total Liabilities and Shareholders' Equity	83,464,000	77,542,000	84,488,000	84,350,000

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Net Income	3,600,000	3,899,000	4,221,000	6,328,000
Depreciation & Amortization	2,447,000	2,352,000	2,166,000	2,132,000
Share-Based Compensation Expense	298,000	288,000	306,000	295,000
Other Adjustments	350,000	(136,000)	(937,000)	(311,000)
Changes in Trade Receivables	(216,000)	331,000	322,000	(389,000)
Changes in Inventories	(58,000)	147,000	185,000	(448,000)
Changes in Accounts Payable	9,000	19,000	(149,000)	(18,000)
Changes in Accrued Expenses	41,000	(486,000)	(43,000)	97,000
Changes in Other Operating Activities	(55,000)	274,000	1,093,000	833,000
Cash from Operating Activities	6,416,000	6,688,000	7,164,000	8,519,000
Capital Expenditure	(1,156,000)	(1,392,000)	(1,383,000)	(1,118,000)
Proceeds from Sale of Property, Plant & Equipment	33,000	13,000	12,000	9,000
Purchases of Investments	(127,000)	(331,000)	(172,000)	(523,000)
Proceeds from Sale of Investments	12,000	253,000	61,000	18,000
Payments for Business Acquisitions	—	(558,000)	(5,610,000)	(582,000)
Proceeds from Business Divestments	—	9,000	—	—
Other Investing Activities	33,000	34,000	11,000	(38,000)
Cash from Investing Activities	(1,196,000)	(1,981,000)	(7,081,000)	(2,234,000)
Issuance of Long-Term Debt	1,556,000	—	—	—
Repayments of Long-Term Debt	(500,000)	(1,674,000)	(620,000)	(965,000)
Net Issuance / (Repayments) of Long-Term Debt	1,056,000	(1,674,000)	(620,000)	(965,000)
Issuance of Common Shares	85,000	162,000	68,000	31,000
Repurchases of Common Shares	(3,088,000)	(5,979,000)	—	—
Net Issuance / (Repurchases) of Common Shares	(3,003,000)	(5,817,000)	68,000	31,000
Common Share Dividends Paid	(878,000)	(768,000)	(821,000)	(818,000)
Other Financing Activities	(136,000)	(126,000)	1,100,000	(818,000)
Cash from Financing Activities	(2,961,000)	(8,385,000)	(273,000)	(2,570,000)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	278,000	(108,000)	59,000	(306,000)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash	2,537,000	(3,786,000)	(131,000)	3,409,000

Quarterly trend

last 8 quarters

Quarter	Revenue	YoY growth	Operating margin	Operating income
Q1 2026	$5.95B	+3.7%	22.6%	$1.34B
Q4 2025	$6.84B	+4.6%	22.0%	$1.50B
Q3 2025	$6.05B	+4.4%	19.1%	$1.15B
Q2 2025	$5.94B	+3.4%	12.8%	$760M
Q1 2025	$5.74B	—	22.2%	$1.27B
Q4 2024	$6.54B	—	21.8%	$1.43B
Q3 2024	$5.80B	—	16.5%	$958M
Q2 2024	$5.74B	—	20.3%	$1.17B

Revenue by quarter$M

$5.74B

Q2 '24

$5.80B

Q3 '24

$6.54B

Q4 '24

$5.74B

Q1 '25

$5.94B

Q2 '25

$6.05B

Q3 '25

$6.84B

Q4 '25

$5.95B

Q1 '26

59.1%

Gross margin

19.1%

Operating margin

14.7%

Net margin

SourceCompany financial filings (income statement, balance sheet, cash flow) Last updated2026-06-09

Snapshot

Financial statements

Quarterly trend

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