Financials · DHR

Danaher Corporation (DHR) financials

For the twelve months ended Sep 25, 2026, Danaher Corporation reported $25.61B of revenue and $4.33B of net income.

Revenue, TTM
$25.61B
Revenue growth, YoY
+5.5%
Net income, TTM
$4.33B
Net income growth, YoY
+23.6%
Net margin
16.9%
Free cash flow, TTM
$5.73B
EPS, diluted, TTM
$6.12
EPS growth, YoY
+25.9%
Cash
$5.68B
Total debt
$26.48B
P/E
37.40
P/S
6.33
Market cap
$161.98B
Annual revenue$24.57B
FY2016FY2025
Annual net income$3.61B
FY2016FY2025
Annual free cash flow$5.26B
FY2016FY2025

DHR revenue and earnings growth

DHR revenueQ3 2026$6.55B

Quarter YoY
+8.3%
QoQ
+4.6%
FY YoY
+2.9%
5Y CAGR
+2.0%
10Y CAGR
+5.5%

DHR revenue was $6.55B in fiscal Q3 2026 (ended Sep 25, 2026), up 8.3% from a year earlier and up 4.6% from the prior quarter. For the full fiscal 2025 it was $24.57B, up 2.9% from fiscal 2024. Compound annual growth was +2.0% over 5 years and +5.5% over 10 years. It rose in 7 of the last 10 fiscal years.

DHR net incomeQ3 2026$1.24B

Quarter YoY
+36.0%
QoQ
+42.0%
FY YoY
-7.3%
5Y CAGR
-0.2%
10Y CAGR
+0.7%

DHR net income was $1.24B in fiscal Q3 2026 (ended Sep 25, 2026), up 36.0% from a year earlier and up 42.0% from the prior quarter. For the full fiscal 2025 it was $3.61B, down 7.3% from fiscal 2024. Compound annual growth was -0.2% over 5 years and +0.7% over 10 years. It rose in 5 of the last 10 fiscal years.

DHR EPSQ3 2026$1.75

Quarter YoY
+37.8%
QoQ
+42.3%
FY YoY
-4.5%
5Y CAGR
+0.6%
10Y CAGR
+0.6%

DHR diluted EPS was $1.75 in fiscal Q3 2026 (ended Sep 25, 2026), up 37.8% from a year earlier and up 42.3% from the prior quarter. For the full fiscal 2025 it was $5.05, down 4.5% from fiscal 2024. Compound annual growth was +0.6% over 5 years and +0.6% over 10 years.

DHR free cash flowQ3 2026$1.63B

Quarter YoY
+19.1%
QoQ
+28.9%
FY YoY
-0.7%
5Y CAGR
-0.6%
10Y CAGR
+4.8%

DHR free cash flow was $1.63B in fiscal Q3 2026 (ended Sep 25, 2026), up 19.1% from a year earlier and up 28.9% from the prior quarter. For the full fiscal 2025 it was $5.26B, down 0.7% from fiscal 2024. Compound annual growth was -0.6% over 5 years and +4.8% over 10 years. It rose in 4 of the last 10 fiscal years.

Export CSV

Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue$24.57B$23.88B$23.89B$26.64B$24.80B$22.28B$17.91B$17.05B$15.52B$16.88B
Cost of revenue$10.04B$9.67B$9.86B$10.46B$9.56B$9.81B$7.93B$7.54B$6.95B$7.55B
Gross profit$14.52B$14.21B$14.03B$16.19B$15.24B$12.47B$9.98B$9.51B$8.57B$9.33B
Research and development$1.60B$1.58B$1.50B$1.53B$1.50B$1.35B$1.13B$1.06B$956.40M$975.10M
Selling, general and admin$8.23B$7.76B$7.33B$7.12B$6.82B$6.90B$5.59B$5.39B$5.04B$5.62B
Operating income$4.69B$4.86B$5.20B$7.54B$6.38B$4.23B$3.27B$3.06B$2.57B$2.74B
Interest expense$265.00M$278.00M$286.00M$204.00M$231.00M$275.00M$108.00M$137.00M$140.10M$184.40M
Pre-tax income$4.23B$4.65B$5.04B$7.15B$6.51B$4.50B$3.31B$2.96B$2.54B$2.61B
Income tax$633.00M$747.00M$823.00M$818.00M$1.06B$849.00M$873.00M$556.00M$371.00M$457.90M
Net income$3.61B$3.90B$4.76B$7.21B$6.43B$3.65B$3.01B$2.65B$2.49B$2.55B
EPS, basic$5.07$5.33$6.44$9.80$8.77$4.97$4.11$3.78$3.58$3.69
EPS, diluted$5.05$5.29$6.38$9.66$8.61$4.89$4.05$3.74$3.53$3.65
Diluted shares716.1M737.2M743.1M737.1M736.8M718.7M725.5M710.2M706.1M699.8M

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$4.62B$2.08B$5.86B$6.00B$2.59B$6.04B$19.91B$788.00M$630.00M$963.70M
Receivables$3.91B$3.54B$3.92B$4.10B$4.63B$4.04B$3.19B$3.03B$3.52B$3.19B
Inventory$2.49B$2.33B$2.59B$2.77B$2.77B$2.29B$1.63B$1.63B$1.84B$1.71B
Current assets$12.76B$9.50B$13.94B$15.88B$11.65B$13.80B$25.60B$7.09B$6.85B$6.67B
Goodwill$43.15B$40.50B$41.61B$37.28B$38.68B$35.42B$22.71B$22.58B$21.77B$23.83B
Total assets$83.46B$77.54B$84.49B$84.35B$83.18B$76.16B$62.08B$47.83B$46.65B$45.30B
Current liabilities$6.81B$6.80B$8.27B$8.39B$8.14B$7.40B$4.93B$4.84B$4.79B$6.87B
Short-term debt$2.00M$505.00M$1.70B$591.00M$8.00M$11.00M$212.00M$51.80M$194.70M$2.59B
Long-term debt$18.42B$15.50B$16.71B$19.09B$22.17B$21.19B$21.52B$9.69B$10.33B$9.67B
Total debt$18.42B$16.00B$18.40B$19.68B$22.18B$21.20B$21.73B$9.74B$10.52B$12.27B
Total liabilities$30.92B$27.99B$31.00B$34.26B$38.01B$36.38B$31.80B$19.61B$20.28B$22.22B
Shareholders' equity$52.53B$49.54B$53.49B$50.09B$45.18B$39.78B$30.28B$28.23B$26.37B$23.00B

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$6.42B$6.69B$7.16B$8.52B$8.36B$6.21B$3.95B$4.02B$3.48B$3.52B
Capital expenditures$1.16B$1.39B$1.38B$1.12B$1.24B$791.00M$636.00M$584.00M$570.70M$589.60M
Free cash flow$5.26B$5.30B$5.78B$7.40B$7.12B$5.42B$3.32B$3.44B$2.91B$2.93B
Investing cash flow-$1.20B-$1.98B-$7.08B-$2.23B-$12.99B-$21.24B-$1.24B-$2.95B-$843.40M-$5.24B
Financing cash flow-$2.96B-$8.38B-$273.00M-$2.57B$1.29B$1.01B$16.36B-$797.00M-$3.10B$2.04B
Dividends paid$878.00M$768.00M$821.00M$818.00M$742.00M$615.00M$527.00M$433.00M$378.30M$399.80M
Share repurchases$3.09B$5.98B$0$0------
Stock-based compensation$298.00M$288.00M$306.00M$295.00M$184.00M$187.00M$159.00M$138.00M$127.10M$129.80M
Depreciation and amortization--$2.17B$2.13B$2.06B$1.77B$1.19B$1.18B$1.12B$1.13B

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY2.9%-0.1%-10.3%7.4%11.3%24.4%5.1%9.9%-8.1%17.0%
Net income growth, YoY-7.3%-18.2%-33.9%12.1%76.4%21.2%13.5%6.4%-2.4%-23.9%
EPS growth, YoY-4.5%-17.1%-34.0%12.2%76.1%20.7%8.3%5.9%-3.3%-23.0%
Gross margin59.1%59.5%58.7%60.8%61.4%56.0%55.7%55.8%55.2%55.3%
Operating margin19.1%20.4%21.8%28.3%25.7%19.0%18.3%17.9%16.6%16.2%
Net margin14.7%16.3%19.9%27.1%25.9%16.4%16.8%15.5%16.1%15.1%
Free cash flow margin21.4%22.2%24.2%27.8%28.7%24.3%18.5%20.2%18.7%17.4%
Return on equity6.9%7.9%8.9%14.4%14.2%9.2%9.9%9.4%9.5%11.1%
Return on assets4.3%5.0%5.6%8.5%7.7%4.8%4.8%5.5%5.3%5.6%
Current ratio1.871.401.681.891.431.865.191.471.430.97
Debt to equity0.350.320.340.390.490.530.720.350.400.53

Source: XBRL data Danaher Corporation files with the SEC, latest filing dated Oct 21, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures and share counts are restated for stock splits the filings show: 2-for-1, first reported Aug 11, 2010.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

DHR peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
DHR$25.61B+5.5%$4.33B16.9%$161.98B
ASML€32.67B+15.6%€9.61B29.4%$549.12B
TMO$47.35B+8.3%$7.07B14.9%$257.42B
LRCX$26.13B+33.4%$8.45B32.3%$250.38B
DE$47.98B+8.0%$4.87B10.2%$181.09B
ETN$31.98B+20.1%$3.90B12.2%$132.76B
JCI$24.43B+5.1%$3.53B14.5%$81.79B
ITW$16.65B+4.8%$3.23B19.4%$79.84B
NOC$43.59B+6.5%$4.52B10.4%$74.58B

DHR FAQ

9 questions
  • What is DHR revenue?
    Danaher Corporation (DHR) reported $25.61B of revenue for the twelve months ended Sep 25, 2026. That is up 5.5% from the year before. Revenue for fiscal 2025 was $24.57B.
  • Is DHR profitable?
    Yes. Danaher Corporation earned $4.33B in net income for the twelve months ended Sep 25, 2026, a net margin of 16.9%.
  • How much cash and debt does DHR have?
    Danaher Corporation reported $5.68B in cash and cash equivalents and $26.48B of debt on its most recent balance sheet in SEC filings.
  • How fast is DHR revenue growing?
    Danaher Corporation's revenue changed +2.9% in fiscal 2025, to $24.57B. Its compound annual growth rate was +2.0% over 5 years and +5.5% over 10 years.
  • What is DHR gross margin?
    Danaher Corporation's gross profit was $15.01B on $25.61B of revenue for the twelve months ended Sep 25, 2026, a gross margin of 58.6%.
  • What is DHR free cash flow?
    Danaher Corporation generated $5.73B of free cash flow for the twelve months ended Sep 25, 2026, which is operating cash flow of $6.86B less capital expenditures.
  • What is DHR earnings per share?
    Diluted earnings per share were $6.12 for the twelve months ended Sep 25, 2026, from SEC filings, restated for any stock split those filings show.
  • When did DHR last report financial results?
    The latest statements here come from Danaher Corporation's 10-Q filed on Oct 21, 2026, covering the period ended Sep 25, 2026.
  • Where does this DHR financial data come from?
    Quantisnow builds these statements from the structured XBRL data Danaher Corporation files with the SEC. It is provided for information only and is not investment advice.