D

Danaher Corporation

DHR · CIK 0000313616

19 fiscal years · 71 SEC filings · every number carries its receipt

Revenue (FY)
$24.57B2.9%
FY2025
Net income (FY)
$3.61B7.3%
FY2025
Free cash flow (FY)
$5.26B0.7%
FY2025
Diluted EPS (FY)
$5.054.5%
FY2025
The story, charted

The shape of the business

FY2007–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$10B$20BFY2007 · Revenue $11.03B · Net income $1.37B · 0001193125-10-038977 · filed 2010-02-24FY07Revenue $11.03BNet income $1.37B0001193125-10-038977 · filed 2010-02-24FY2008 · Revenue $12.70B · Net income $1.32B · 0001193125-11-044412 · filed 2011-02-24FY08Revenue $12.70BNet income $1.32B0001193125-11-044412 · filed 2011-02-24FY2009 · Revenue $10.52B · Net income $1.15B · 0001193125-12-076756 · filed 2012-02-24FY09Revenue $10.52BNet income $1.15B0001193125-12-076756 · filed 2012-02-24FY2010 · Revenue $12.55B · Net income $1.79B · 0000313616-13-000026 · filed 2013-02-22FY10Revenue $12.55BNet income $1.79B0000313616-13-000026 · filed 2013-02-22FY2011 · Revenue $16.09B · Net income $2.17B · 0000313616-14-000023 · filed 2014-02-21FY11Revenue $16.09BNet income $2.17B0000313616-14-000023 · filed 2014-02-21FY2012 · Revenue $18.26B · Net income $2.39B · 0000313616-15-000038 · filed 2015-02-25FY12Revenue $18.26BNet income $2.39B0000313616-15-000038 · filed 2015-02-25FY2013 · Revenue $18.28B · Net income $2.69B · 0000313616-16-000145 · filed 2016-02-24FY13Revenue $18.28BNet income $2.69B0000313616-16-000145 · filed 2016-02-24FY2014 · Revenue $12.87B · Net income $2.60B · 0000313616-17-000066 · filed 2017-02-22FY14Revenue $12.87BNet income $2.60B0000313616-17-000066 · filed 2017-02-22FY2015 · Revenue $14.43B · Net income $3.36B · 0000313616-18-000038 · filed 2018-02-21FY15Revenue $14.43BNet income $3.36B0000313616-18-000038 · filed 2018-02-21FY2016 · Revenue $16.88B · Net income $2.55B · 0000313616-19-000035 · filed 2019-02-21FY16Revenue $16.88BNet income $2.55B0000313616-19-000035 · filed 2019-02-21FY2017 · Revenue $15.52B · Net income $2.49B · 0000313616-20-000041 · filed 2020-02-21FY17Revenue $15.52BNet income $2.49B0000313616-20-000041 · filed 2020-02-21FY2018 · Revenue $17.05B · Net income $2.65B · 0000313616-21-000045 · filed 2021-02-25FY18Revenue $17.05BNet income $2.65B0000313616-21-000045 · filed 2021-02-25FY2019 · Revenue $17.91B · Net income $3.01B · 0000313616-22-000061 · filed 2022-02-23FY19Revenue $17.91BNet income $3.01B0000313616-22-000061 · filed 2022-02-23FY2020 · Revenue $22.28B · Net income $3.65B · 0000313616-23-000087 · filed 2023-02-22FY20Revenue $22.28BNet income $3.65B0000313616-23-000087 · filed 2023-02-22FY2021 · Revenue $24.80B · Net income $6.43B · 0000313616-24-000052 · filed 2024-02-21FY21Revenue $24.80BNet income $6.43B0000313616-24-000052 · filed 2024-02-21FY2022 · Revenue $26.64B · Net income $7.21B · 0000313616-25-000043 · filed 2025-02-20FY22Revenue $26.64BNet income $7.21B0000313616-25-000043 · filed 2025-02-20FY2023 · Revenue $23.89B · Net income $4.76B · 0000313616-26-000062 · filed 2026-02-24FY23Revenue $23.89BNet income $4.76B0000313616-26-000062 · filed 2026-02-24FY2024 · Revenue $23.88B · Net income $3.90B · 0000313616-26-000062 · filed 2026-02-24FY24Revenue $23.88BNet income $3.90B0000313616-26-000062 · filed 2026-02-24FY2025 · Revenue $24.57B · Net income $3.61B · 0000313616-26-000062 · filed 2026-02-24FY25Revenue $24.57BNet income $3.61B0000313616-26-000062 · filed 2026-02-24FY25Revenue $24.57BNet income $3.61B0000313616-26-000062 · filed 2026-02-24FY07FY10FY13FY16FY19FY22FY25

revenue 2.2× since FY2007 · net margin 12.4% → 14.7%

MarginsNet marginFCF margin
0%10%20%30%FY2007 · Net margin 12.4% · FCF margin 13.5%FY07Net margin 12.4%FCF margin 13.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2008 · Net margin 10.4% · FCF margin 13.1%FY08Net margin 10.4%FCF margin 13.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin 11.0% · FCF margin 15.5%FY09Net margin 11.0%FCF margin 15.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin 14.3% · FCF margin 15.1%FY10Net margin 14.3%FCF margin 15.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 13.5% · FCF margin 14.2%FY11Net margin 13.5%FCF margin 14.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 13.1% · FCF margin 16.2%FY12Net margin 13.1%FCF margin 16.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 14.7% · FCF margin 16.7%FY13Net margin 14.7%FCF margin 16.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 20.2% · FCF margin 25.6%FY14Net margin 20.2%FCF margin 25.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 23.3% · FCF margin 22.8%FY15Net margin 23.3%FCF margin 22.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 15.1% · FCF margin 17.4%FY16Net margin 15.1%FCF margin 17.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 16.1% · FCF margin 18.7%FY17Net margin 16.1%FCF margin 18.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 15.5% · FCF margin 20.2%FY18Net margin 15.5%FCF margin 20.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 16.8% · FCF margin 18.5%FY19Net margin 16.8%FCF margin 18.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 16.4% · FCF margin 24.3%FY20Net margin 16.4%FCF margin 24.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 25.9% · FCF margin 28.7%FY21Net margin 25.9%FCF margin 28.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 27.1% · FCF margin 27.8%FY22Net margin 27.1%FCF margin 27.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 19.9% · FCF margin 24.2%FY23Net margin 19.9%FCF margin 24.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 16.3% · FCF margin 22.2%FY24Net margin 16.3%FCF margin 22.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 14.7% · FCF margin 21.4%FY25Net margin 14.7%FCF margin 21.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 14.7%FCF margin 21.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’09’13’17’21’25

FY2025: net 14.7% · free cash flow 21.4% of revenue

Cash engineOperating cash flowFree cash flow
$0$5BFY2007 · OCF $1.65B · FCF $1.48B · 0001193125-10-038977 · filed 2010-02-24FY07OCF $1.65BFCF $1.48B0001193125-10-038977 · filed 2010-02-24FY2008 · OCF $1.86B · FCF $1.67B · 0001193125-11-044412 · filed 2011-02-24FY08OCF $1.86BFCF $1.67B0001193125-11-044412 · filed 2011-02-24FY2009 · OCF $1.80B · FCF $1.63B · 0001193125-12-076756 · filed 2012-02-24FY09OCF $1.80BFCF $1.63B0001193125-12-076756 · filed 2012-02-24FY2010 · OCF $2.08B · FCF $1.89B · 0000313616-13-000026 · filed 2013-02-22FY10OCF $2.08BFCF $1.89B0000313616-13-000026 · filed 2013-02-22FY2011 · OCF $2.63B · FCF $2.29B · 0000313616-14-000023 · filed 2014-02-21FY11OCF $2.63BFCF $2.29B0000313616-14-000023 · filed 2014-02-21FY2012 · OCF $3.42B · FCF $2.96B · 0000313616-15-000038 · filed 2015-02-25FY12OCF $3.42BFCF $2.96B0000313616-15-000038 · filed 2015-02-25FY2013 · OCF $3.59B · FCF $3.05B · 0000313616-16-000145 · filed 2016-02-24FY13OCF $3.59BFCF $3.05B0000313616-16-000145 · filed 2016-02-24FY2014 · OCF $3.76B · FCF $3.29B · 0000313616-17-000066 · filed 2017-02-22FY14OCF $3.76BFCF $3.29B0000313616-17-000066 · filed 2017-02-22FY2015 · OCF $3.80B · FCF $3.29B · 0000313616-18-000038 · filed 2018-02-21FY15OCF $3.80BFCF $3.29B0000313616-18-000038 · filed 2018-02-21FY2016 · OCF $3.52B · FCF $2.93B · 0000313616-19-000035 · filed 2019-02-21FY16OCF $3.52BFCF $2.93B0000313616-19-000035 · filed 2019-02-21FY2017 · OCF $3.48B · FCF $2.91B · 0000313616-20-000041 · filed 2020-02-21FY17OCF $3.48BFCF $2.91B0000313616-20-000041 · filed 2020-02-21FY2018 · OCF $4.02B · FCF $3.44B · 0000313616-21-000045 · filed 2021-02-25FY18OCF $4.02BFCF $3.44B0000313616-21-000045 · filed 2021-02-25FY2019 · OCF $3.95B · FCF $3.32B · 0000313616-22-000061 · filed 2022-02-23FY19OCF $3.95BFCF $3.32B0000313616-22-000061 · filed 2022-02-23FY2020 · OCF $6.21B · FCF $5.42B · 0000313616-23-000087 · filed 2023-02-22FY20OCF $6.21BFCF $5.42B0000313616-23-000087 · filed 2023-02-22FY2021 · OCF $8.36B · FCF $7.12B · 0000313616-24-000052 · filed 2024-02-21FY21OCF $8.36BFCF $7.12B0000313616-24-000052 · filed 2024-02-21FY2022 · OCF $8.52B · FCF $7.40B · 0000313616-25-000043 · filed 2025-02-20FY22OCF $8.52BFCF $7.40B0000313616-25-000043 · filed 2025-02-20FY2023 · OCF $7.16B · FCF $5.78B · 0000313616-26-000062 · filed 2026-02-24FY23OCF $7.16BFCF $5.78B0000313616-26-000062 · filed 2026-02-24FY2024 · OCF $6.69B · FCF $5.30B · 0000313616-26-000062 · filed 2026-02-24FY24OCF $6.69BFCF $5.30B0000313616-26-000062 · filed 2026-02-24FY2025 · OCF $6.42B · FCF $5.26B · 0000313616-26-000062 · filed 2026-02-24FY25OCF $6.42BFCF $5.26B0000313616-26-000062 · filed 2026-02-24FY25OCF $6.42BFCF $5.26B0000313616-26-000062 · filed 2026-02-24’09’13’17’21’25

FY2025: $6.42B operating cash − $1.16B capex = $5.26B free cash flow

Returns on capitalReturn on equityReturn on assets
0%5%10%15%FY2008 · ROE 13.4% · ROA 7.5%FY08ROE 13.4%ROA 7.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2009 · ROE 9.9% · ROA 5.9%FY09ROE 9.9%ROA 5.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 13.1% · ROA 8.1%FY10ROE 13.1%ROA 8.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 12.9% · ROA 7.3%FY11ROE 12.9%ROA 7.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 12.6% · ROA 7.3%FY12ROE 12.6%ROA 7.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 12.0% · ROA 7.8%FY13ROE 12.0%ROA 7.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 11.1% · ROA 7.0%FY14ROE 11.1%ROA 7.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 14.2% · ROA 7.0%FY15ROE 14.2%ROA 7.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 11.1% · ROA 5.6%FY16ROE 11.1%ROA 5.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 9.5% · ROA 5.3%FY17ROE 9.5%ROA 5.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 9.4% · ROA 5.5%FY18ROE 9.4%ROA 5.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 9.9% · ROA 4.8%FY19ROE 9.9%ROA 4.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 9.2% · ROA 4.8%FY20ROE 9.2%ROA 4.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 14.2% · ROA 7.7%FY21ROE 14.2%ROA 7.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 14.4% · ROA 8.5%FY22ROE 14.4%ROA 8.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 8.9% · ROA 5.6%FY23ROE 8.9%ROA 5.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 7.9% · ROA 5.0%FY24ROE 7.9%ROA 5.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 6.9% · ROA 4.3%FY25ROE 6.9%ROA 4.3%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 6.9%ROA 4.3%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity 13% (FY2008) → 7% (FY2025) · on assets 4.3%

Balance sheetLiabilitiesEquity
$0$10B$20BFY2009 · Liabilities $7.97B · Equity $11.63BFY09Liabilities $7.97BEquity $11.63B0001193125-11-044412 · filed 2011-02-24FY2010 · Liabilities $8.44B · Equity $13.71BFY10Liabilities $8.44BEquity $13.71B0001193125-11-044412 · filed 2011-02-24 · 0001193125-12-076756 · filed 2012-02-24FY10Liabilities $8.44BEquity $13.71B0001193125-11-044412 · filed 2011-02-24 · 0001193125-12-076756 · filed 2012-02-24’09’10
The receipts

Financial statements

USD in millions except per-share and share counts. Every value links to the filing it came from — hover for the us-gaap tag, click for the 10-K/10-Q on sec.gov.

USD millionsQ1 2026Q3 2025Q2 2025Q1 2025Q3 2024Q2 2024Q1 2024Q3 2023Q2 2023Q1 2023Q3 2022Q2 2022
Revenue5,9516,0535,9365,7415,7985,7435,7965,6245,9125,9497,6637,751
Net income1,0299085559548189071,0881,1291,1061,4501,5721,680
Diluted EPS1.451.270.771.321.121.221.451.511.491.942.102.25
Diluted shares711714719721729742749746745737737736
Operating cash flow1,3221,2991,7391,947
Capital expenditures237245291266
Free cash flow1,0851,0541,4481,681
Cash & equivalents5,7011,5282,9571,9932,6272,3747,03112,2778,5757,3795,1503,984
Total assets83,54479,89781,62079,11680,61578,55583,40287,73484,90285,04081,03081,806
Shareholders' equity52,94951,07152,33450,84951,29949,89753,44252,40751,71651,47846,98546,594

Figures as reported in SEC filings, normalized by stonks with the tag mapping shown on hover; missing tags render as “—”, never as zero. Free cash flow is derived (operating cash flow − capex) with both parents recorded in its lineage. Quarterly view shows as-reported 10-Q periods; Q4 synthesis ships in Phase 1. See methodology.