DHR Financials Danaher Corporation

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 29 h ago Overview →

Growth & profitability

Revenue has grown 2.0% per year over the past 5 years.
Net income has grown slower than revenue (-0.2% vs 2.0% per year).
Operating margin has been roughly flat, at 19.1% in the latest year.
Free cash flow has declined 0.6% per year over the past 5 years.

Financial health

Total debt ($18.4B) exceeds cash ($4.6B); net debt is $13.8B.
Total debt has grown slower than revenue (-2.8% vs 2.0% per year).
Operating income covered interest expense 18× in the latest year.
Total debt is 3.9× EBITDA.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 24.3% of earnings and 16.7% of free cash flow.
The dividend has grown 7.4% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
2025	$24.6B	$3.6B	59.1%	19.1%	$5.3B	$18.4B	$4.6B
2024	$23.9B	$3.9B	59.5%	20.4%	$5.3B	$16.0B	$2.1B
2023	$23.9B	$4.8B	58.7%	21.8%	$5.8B	$18.4B	$5.9B
2022	$26.6B	$7.2B	60.8%	28.3%	$7.4B	$19.7B	$6.0B
2021	$24.8B	$6.4B	61.4%	25.7%	$7.1B	$22.2B	$2.6B
2020	$22.3B	$3.6B	56.0%	19.0%	$5.4B	$21.2B	$6.0B
2019	$17.9B	$3.0B	55.7%	18.3%	$3.3B	$21.7B	$19.9B
2018	$17.0B	$2.7B	55.8%	17.9%	$3.4B	$9.7B	$788M
2017	$15.5B	$2.5B	55.2%	16.6%	$2.9B	$10.5B	$630M
2016	—	$2.6B	—	—	$2.9B	$12.3B	—
2015	—	$3.4B	—	—	$3.3B	$12.9B	—
2014	—	$2.6B	—	—	$3.3B	$3.5B	—
2013	—	$2.7B	—	—	$3.0B	$3.9B	—
2012	—	$2.4B	—	—	$3.0B	$6.6B	—
2011	—	$2.2B	—	—	$2.3B	$6.3B	—

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
Mar '26	$6.0B	$1.0B	60.3%	22.6%	$1.1B	$18.5B	$5.7B
Dec '25	$6.8B	$1.2B	58.0%	22.0%	$1.7B	$18.4B	$4.6B
Sep '25	$6.1B	$908M	58.2%	19.1%	$1.4B	$16.9B	$1.5B
Jun '25	$5.9B	$555M	59.3%	12.8%	$1.1B	$17.4B	$3.0B
Mar '25	$5.7B	$954M	61.2%	22.2%	$1.1B	$16.5B	$2.0B
Dec '24	$6.5B	$1.1B	59.5%	21.8%	$1.5B	$16.0B	$2.1B
Sep '24	$5.8B	$818M	58.7%	16.5%	$1.2B	$17.5B	$2.6B
Jun '24	$5.7B	$907M	59.7%	20.3%	$1.1B	$17.0B	$2.4B
Mar '24	$5.8B	$1.1B	60.2%	22.6%	$1.4B	$18.2B	$7.0B
Dec '23	$6.4B	$1.1B	59.0%	20.9%	$1.2B	$18.4B	$5.9B
Sep '23	$5.6B	$1.1B	58.2%	21.1%	$1.3B	$22.1B	$12.3B
Jun '23	$5.9B	$1.1B	56.1%	19.7%	$1.6B	$19.9B	$8.6B
Mar '23	$5.9B	$1.4B	61.6%	25.5%	$1.7B	$19.8B	$7.4B
Dec '22	$7.1B	$2.2B	59.2%	28.0%	$2.2B	$19.7B	$6.0B
Sep '22	$6.5B	$1.6B	60.3%	26.6%	$1.7B	$19.2B	$5.2B
Jul '22	$6.5B	$1.7B	61.5%	29.0%	$1.7B	$20.1B	$4.0B
Apr '22	$7.7B	$1.7B	61.2%	28.3%	$1.7B	$21.8B	$3.7B
Dec '21	$8.1B	$1.8B	60.7%	26.4%	$1.9B	$22.2B	$2.6B
Oct '21	$7.2B	$1.2B	60.3%	18.1%	$1.7B	$23.6B	$2.6B
Jul '21	$7.2B	$1.8B	60.9%	27.8%	$1.8B	$20.4B	$7.3B

Valuation over time

How the market has priced DHR against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 24.7× (Mar '23) to 37.9× (Jun '26).
The price-to-sales ratio has fallen from 6.7× (Mar '23) to 5.6× (Jun '26).
The dividend yield has risen from 0.5% (Mar '23) to 0.6% (Jun '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is DHR growing its revenue and profit?

Over the past 5 years, Danaher Corporation's revenue has grown 2.0% per year, and net income declined 0.2% per year. These are computed facts, not advice.

How much debt does DHR have?

As of FY2025, Danaher Corporation reported $18.4B of total debt against $4.6B of cash; operating income covered interest expense 18×.

What is DHR's profit margin?

In FY2025, gross margin was 59.1%, operating margin 19.1%, and net margin 14.7%.

What is DHR's P/E ratio?

As of Jun '26, Danaher Corporation traded at a price-to-earnings ratio of about 37.9× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.