Gross margin
59.1% Fiscal year 2025
Rank 63 of 100: higher than 63% of 153 peers (All). medium.
Rank 33 of 100: higher than 33% of 20 peers (Sector). medium.
Median Health Care: 66.6%
Share of revenue left after the direct cost of the products sold.
About the company
Danaher is a life sciences and diagnostics company from Washington. It makes equipment and consumables for producing biologic drugs (Cytiva), lab technology and diagnostic systems (Beckman Coulter, Cepheid). Customers are pharmaceutical companies, hospitals and labs worldwide. As of Oct 11, 2026
Fact sheet (from the annual report) Industrial measurement and control instruments · Washington, USA
Danaher groups subsidiaries from biotechnology, life sciences and diagnostics into corresponding segments. The Biotechnology segment supplies equipment, consumables, software and services for developing and manufacturing biologic drugs such as antibodies and vaccines. The Life Sciences segment offers instruments and consumables for studying genetic material, proteins and cells as well as filters for liquids and gases. The Diagnostics segment supplies hospitals and labs with instruments and tests, including molecular genetic tests. Many products and services are sold to customers on a recurring basis, mostly through direct sales. Outside the United States, its main markets are in Europe and Asia.
Automatically summarized from SEC annual report (10-K, filed Feb 24, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 14, 2026
Price performance at a glance
Last 30 trading days
- Today −0.4%
- 7 days +3.5%
- 30 days +3.4%
- 1 year +5.0%
Day range (last trading day)
−1.2%Price at 57% of the range+0.9%
52-week range
−30.6%Price at 87% of the range+4.7%
- Distance from the all-time high
- −21.6%
Our own calculation from the exchange’s daily candles, as of Oct 27, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
52-week-high breakout · Analysis method
This method currently detects no pattern for DHR. The check runs daily after the close.
You see new patterns immediately from Watcher, on the free plan 2 days after they form. Plans and pricing
What does the pattern show?
What is this? The price closes above the highest high of the last 52 weeks for the first time, on clearly higher volume. New 52-week highs are seen as a sign of strength.
This is a calculated analysis, not a forecast and not a call to buy. Risk notice and investment advice
Fundamental analysis
SEC filing (10-K, 10-Q)Required reports of listed companies to the US Securities and Exchange Commission (SEC): 10-K is the annual report, 10-Q the quarterly report, 20-F the annual report of foreign companies. We show the figures of the first filing.Example: 10-K for the fiscal year ending Sep 27, 2025, filed on Oct 31, 2025.More in the Academy: Lesson revenue, profit and marginDanaher Corporation · Sector Health Care · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Feb 24, 2026.
Quality checks
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
Fiscal year to Dec 31, 2025
Quality
Profitability, consistency, balance sheet
7 of 8 criteria met
Growth
Revenue and earnings per share
1 of 7 criteria met
Dividend
Level, consistency, coverage · 6 without data
0 of 1 criteria met
Financial strength
Piotroski, debt, liquidity
6 of 6 criteria met
Quality 7 of 8 met
- met: Gross margin above 40% 59.1%
- met: Operating margin above 15% 19.1%
- met: Net margin above 10% 14.7%
- not met: Return on equity above 15% 6.9%
- met: Free cash flow margin above 10% 21.4%
- met: Profit in each of the last 5 fiscal years 5 of 5
- met: Free cash flow positive in each of the last 3 fiscal years 3 of 3
- met: Equity ratio above 30% 62.9%
Operating margin
19.1% Fiscal year 2025
Rank 57 of 100: higher than 57% of 192 peers (All). medium.
Rank 58 of 100: higher than 58% of 20 peers (Sector). medium.
Median Health Care: 18.0%
Operating income divided by revenue: what the core business earns before interest and taxes.
Net margin
14.7% Fiscal year 2025
Rank 54 of 100: higher than 54% of 237 peers (All). medium.
Rank 56 of 100: higher than 56% of 26 peers (Sector). medium.
Median Health Care: 13.9%
Profit after all costs, interest and taxes divided by revenue.
Return on equity
6.9% Fiscal year 2025
Rank 25 of 100: higher than 25% of 218 peers (All). weak.
Rank 17 of 100: higher than 17% of 21 peers (Sector). weak.
Median Health Care: 14.3%
Net income divided by equity at fiscal year end.
Return on assets
4.3% Fiscal year 2025 (total assets at year end)
Rank 40 of 100: higher than 40% of 238 peers (All). medium.
Rank 33 of 100: higher than 33% of 26 peers (Sector). medium.
Median Health Care: 6.4%
Net income divided by total assets at fiscal year end.
Equity ratio
62.9% Fiscal year 2025
Rank 84 of 100: higher than 84% of 239 peers (All). strong.
Rank 79 of 100: higher than 79% of 26 peers (Sector). strong.
Median Health Care: 38.5%
Equity as a share of total assets. Usually low for banks.
Free cash flow margin
21.4% Fiscal year 2025
Rank 73 of 100: higher than 73% of 213 peers (All). strong.
Rank 70 of 100: higher than 70% of 25 peers (Sector). strong.
Median Health Care: 14.9%
Free cash flow divided by revenue.
Free cash flow
5.3B USD Fiscal year 2025
Operating cash flow minus capital expenditure on property and equipment.
Growth 1 of 7 met
- not met: Over 3 years, revenue grew by more than 5% per year −7.9%
- not met: Over 5 years, revenue grew by more than 5% per year +2.0%
- not met: Over 10 years, revenue grew by more than 5% per year +1.8%
- not met: Over 3 years, EPS grew by more than 5% per year −19.4%
- not met: Over 5 years, EPS grew by more than 5% per year +0.6%
- not met: Revenue rose in at least 4 of the last 5 fiscal years 3 of 5
- met: Revenue rose in the last fiscal year +2.9%
Revenue growth 3 years
−7.9% per year
Rank 8 of 100: higher than 8% of 230 peers (All). weak.
Rank 14 of 100: higher than 14% of 25 peers (Sector). weak.
Median Health Care: +5.6%
Average growth per year over 3 fiscal years.
Revenue growth 5 years
+2.0% per year
Rank 9 of 100: higher than 9% of 217 peers (All). weak.
Rank 2 of 100: higher than 2% of 25 peers (Sector). weak.
Median Health Care: +8.5%
Average growth per year over 5 fiscal years.
Revenue growth 10 years
+1.8% per year
Rank 16 of 100: higher than 16% of 157 peers (All). weak.
Rank 8 of 100: higher than 8% of 19 peers (Sector). weak.
Median Health Care: +10.1%
Average growth per year over 10 fiscal years.
EPS growth 3 years
−19.4% per year
Rank 11 of 100: higher than 11% of 157 peers (All). weak.
Rank 16 of 100: higher than 16% of 22 peers (Sector). weak.
Median Health Care: +5.5%
Growth of earnings per share per year, adjusted for stock splits.
EPS growth 5 years
+0.6% per year
Rank 14 of 100: higher than 14% of 146 peers (All). weak.
Rank 28 of 100: higher than 28% of 20 peers (Sector). weak.
Median Health Care: +7.0%
Growth of earnings per share per year, adjusted for stock splits.
EPS growth 10 years
+0.6% per year
Rank 14 of 100: higher than 14% of 140 peers (All). weak.
Rank 18 of 100: higher than 18% of 20 peers (Sector). weak.
Median Health Care: +8.3%
Growth of earnings per share per year, adjusted for stock splits.
Dividend 0 of 1 met · 6 without data
- not met: Pays a dividend no dividend per share reported for the last fiscal year
- no data: Payout ratio at most 60% of earnings pays no dividend
- no data: Dividend paid in each of the last 5 fiscal years pays no dividend
- no data: Dividend per share never lowered in the last 5 fiscal years pays no dividend
- no data: Dividend per share higher than 5 years ago pays no dividend
- no data: Free cash flow per share covers the dividend pays no dividend
- no data: Dividends paid over the last 5 years covered by free cash flow pays no dividend
Financial strength 6 of 6 met
- met: Piotroski F-Score at least 7 of 9 7 of 9
- met: Long-term debt no higher than equity 0.35
- met: Current assets cover current liabilities 1.87
- met: Positive equity 52.5B USD
- met: In 5 years, share count up by at most 5% −0.4%
- met: Free cash flow positive in the last fiscal year 5.3B USD
Piotroski F-Score
7 of 9 Fiscal year 2025
Rank 72 of 100: higher than 72% of 134 peers (All). strong.
Rank 63 of 100: higher than 63% of 19 peers (Sector). medium.
Median Health Care: 7.0 of 9
Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.
Debt / equity
0.35 at fiscal year end
Rank 67 of 100: lower than 67% of 199 peers (All). strong.
Rank 81 of 100: lower than 81% of 18 peers (Sector). strong.
Median Health Care: 0.72
Long-term financial debt divided by equity.
Liquidity (current ratio)
1.87 at fiscal year end
Rank 65 of 100: higher than 65% of 215 peers (All). medium.
Rank 60 of 100: higher than 60% of 26 peers (Sector). medium.
Median Health Care: 1.56
Current assets divided by current liabilities.
Change in share count
−0.4% in 5 years
Rank 46 of 100: lower than 46% of 199 peers (All). medium.
Rank 27 of 100: lower than 27% of 24 peers (Sector). weak.
Median Health Care: −2.7%
Change in diluted share count. Negative = share buybacks, positive = new shares.
The 9 criteria of the Piotroski F-Score
- met: Profit in the last fiscal year (positive return on assets)
- met: Positive operating cash flow
- met: Return on assets higher than the prior year
- met: Operating cash flow higher than net income
- not met: Long-term debt relative to total assets fell
- met: Liquidity (current assets / current liabilities) rose
- met: No additional shares (diluted share count did not rise)
- not met: Gross margin higher than the prior year
- met: Revenue relative to total assets higher than the prior year
Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.
In short
- Light yellow: Revenue grew over 5 years (+2.0% per year), more slowly than the sector median.
- Light red: Net income (total) shrank over 5 years (−0.2% per year); per share +0.6% per year.
- Light green: Net margin 14.7%, above the sector median (12.9%).
- Light green: Debt not higher than usual in the sector.
- Light green: Profit in each of the last 10 fiscal years.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
- Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Revenue 16.9B USD · Net income 2.6B USD · Net margin 15.1%
- Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Revenue 18.3B USD · Net income 2.5B USD · Net margin 13.6%
- Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Revenue 19.9B USD · Net income 2.7B USD · Net margin 13.3%
- Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Revenue 17.9B USD · Net income 3.0B USD · Net margin 16.8%
- Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Revenue 22.3B USD · Net income 3.6B USD · Net margin 16.4%
- Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Revenue 29.5B USD · Net income 6.4B USD · Net margin 21.8%
- Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Revenue 31.5B USD · Net income 7.2B USD · Net margin 22.9%
- Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Revenue 23.9B USD · Net income 4.8B USD · Net margin 19.9%
- Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Revenue 23.9B USD · Net income 3.9B USD · Net margin 16.3%
- Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 24.6B USD · Net income 3.6B USD · Net margin 14.7%
- Quarter Q4/23 (Sep 30, 2023 – Dec 31, 2023): Revenue 6.4B USD · Net income 1.1B USD · Net margin 16.8% · Q4 derived (year minus 9 months), may be distorted by restatements
- Quarter Q1/24 (Jan 1, 2024 – Mar 29, 2024): Revenue 5.8B USD · Net income 1.1B USD · Net margin 18.8%
- Quarter Q2/24 (Mar 30, 2024 – Jun 28, 2024): Revenue 5.7B USD · Net income 907.0M USD · Net margin 15.8%
- Quarter Q3/24 (Jun 29, 2024 – Sep 27, 2024): Revenue 5.8B USD · Net income 818.0M USD · Net margin 14.1%
- Quarter Q4/24 (Sep 28, 2024 – Dec 31, 2024): Revenue 6.5B USD · Net income 1.1B USD · Net margin 16.6% · Q4 derived (year minus 9 months), may be distorted by restatements
- Quarter Q1/25 (Jan 1, 2025 – Mar 28, 2025): Revenue 5.7B USD · Net income 954.0M USD · Net margin 16.6%
- Quarter Q2/25 (Mar 29, 2025 – Jun 27, 2025): Revenue 5.9B USD · Net income 555.0M USD · Net margin 9.3%
- Quarter Q3/25 (Jun 28, 2025 – Sep 26, 2025): Revenue 6.1B USD · Net income 908.0M USD · Net margin 15.0%
- Quarter Q4/25 (Sep 27, 2025 – Dec 31, 2025): Revenue 6.8B USD · Net income 1.2B USD · Net margin 17.5% · Q4 derived (year minus 9 months), may be distorted by restatements
- Quarter Q1/26 (Jan 1, 2026 – Mar 27, 2026): Revenue 6.0B USD · Net income 1.0B USD · Net margin 17.3%
- Quarter Q2/26 (Mar 28, 2026 – Jun 26, 2026): Revenue 6.3B USD · Net income 870.0M USD · Net margin 13.9%
- Quarter Q3/26 (Jun 27, 2026 – Sep 25, 2026): Revenue 6.6B USD · Net income 1.2B USD · Net margin 18.8%
- Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Earnings per share 3.65 USD
- Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Earnings per share 3.53 USD
- Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Earnings per share 3.74 USD
- Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Earnings per share 4.05 USD
- Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Earnings per share 4.89 USD
- Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Earnings per share 8.61 USD
- Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Earnings per share 9.66 USD
- Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Earnings per share 6.38 USD
- Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Earnings per share 5.29 USD
- Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Earnings per share 5.05 USD
- Quarter Q4/23 (Sep 30, 2023 – Dec 31, 2023): Earnings per share 1.45 USD
- Quarter Q1/24 (Jan 1, 2024 – Mar 29, 2024): Earnings per share 1.45 USD
- Quarter Q2/24 (Mar 30, 2024 – Jun 28, 2024): Earnings per share 1.22 USD
- Quarter Q3/24 (Jun 29, 2024 – Sep 27, 2024): Earnings per share 1.12 USD
- Quarter Q4/24 (Sep 28, 2024 – Dec 31, 2024): Earnings per share not reported separately for Q4
- Quarter Q1/25 (Jan 1, 2025 – Mar 28, 2025): Earnings per share 1.32 USD
- Quarter Q2/25 (Mar 29, 2025 – Jun 27, 2025): Earnings per share 0.77 USD
- Quarter Q3/25 (Jun 28, 2025 – Sep 26, 2025): Earnings per share 1.27 USD
- Quarter Q4/25 (Sep 27, 2025 – Dec 31, 2025): Earnings per share not reported separately for Q4
- Quarter Q1/26 (Jan 1, 2026 – Mar 27, 2026): Earnings per share 1.45 USD
- Quarter Q2/26 (Mar 28, 2026 – Jun 26, 2026): Earnings per share 1.23 USD
- Quarter Q3/26 (Jun 27, 2026 – Sep 25, 2026): Earnings per share 1.75 USD
No reported values for “Dividend per share” in this interval.
No reported values for “Dividend per share” in this interval.
Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 24.6B USD · Net income 3.6B USD · Net margin 14.7%
Figures over time
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Money flow in fiscal year 2025
Of 100 USD of revenue, 59.1 USD gross profit, 19.1 USD operating income and 14.7 USD net income remained.
Money flow as a table
| Item | Amount | of revenue |
|---|---|---|
| Revenue | 24.6B USD | 100.0% |
| Gross profit | 14.5B USD | 59.1% |
| Cost of revenue | 10.0B USD | 40.9% |
| Operating income | 4.7B USD | 19.1% |
| Research & development | 1.6B USD | 6.5% |
| Other operating expenses | 8.2B USD | 33.5% |
| Net income | 3.6B USD | 14.7% |
| Interest expense | 265.0M USD | 1.1% |
| Taxes | 633.0M USD | 2.6% |
| Other | 178.0M USD | 0.7% |
Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.
Margins
The operating margin stayed roughly the same in 5 years (19.1%).
Gross marginOperating marginNet margin- Fiscal year 2016: Gross margin 55.3% · Operating margin 16.3% · Net margin 15.1%
- Fiscal year 2017: Gross margin 55.6% · Operating margin 16.5% · Net margin 13.6%
- Fiscal year 2018: Gross margin 55.8% · Operating margin 17.1% · Net margin 13.3%
- Fiscal year 2019: Gross margin 55.7% · Operating margin 18.3% · Net margin 16.8%
- Fiscal year 2020: Gross margin 56.0% · Operating margin 19.0% · Net margin 16.4%
- Fiscal year 2021: Gross margin 61.0% · Operating margin 25.3% · Net margin 21.8%
- Fiscal year 2022: Gross margin 60.2% · Operating margin 27.6% · Net margin 22.9%
- Fiscal year 2023: Gross margin 58.7% · Operating margin 21.8% · Net margin 19.9%
- Fiscal year 2024: Gross margin 59.5% · Operating margin 20.4% · Net margin 16.3%
- Fiscal year 2025: Gross margin 59.1% · Operating margin 19.1% · Net margin 14.7%
Returns
Return on equity fell in 5 years from 9.2% to 6.9%.
Return on equityReturn on assets- Fiscal year 2016: Return on equity 11.1% · Return on assets 5.6%
- Fiscal year 2017: Return on equity 9.5% · Return on assets 5.3%
- Fiscal year 2018: Return on equity 9.4% · Return on assets 5.5%
- Fiscal year 2019: Return on equity 9.9% · Return on assets 4.8%
- Fiscal year 2020: Return on equity 9.2% · Return on assets 4.8%
- Fiscal year 2021: Return on equity 14.2% · Return on assets 7.7%
- Fiscal year 2022: Return on equity 14.4% · Return on assets 8.5%
- Fiscal year 2023: Return on equity 8.9% · Return on assets 5.6%
- Fiscal year 2024: Return on equity 7.9% · Return on assets 5.0%
- Fiscal year 2025: Return on equity 6.9% · Return on assets 4.3%
Equity and long-term debt
The equity ratio rose in 5 years from 52.2% to 62.9%.
EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases.- Fiscal year 2016: Equity 23.0B USD · Long-term debt 12.3B USD
- Fiscal year 2017: Equity 26.4B USD · Long-term debt 10.5B USD
- Fiscal year 2018: Equity 28.2B USD · Long-term debt 9.7B USD
- Fiscal year 2019: Equity 30.3B USD · Long-term debt 21.7B USD
- Fiscal year 2020: Equity 39.8B USD · Long-term debt 21.2B USD
- Fiscal year 2021: Equity 45.2B USD · Long-term debt 22.2B USD
- Fiscal year 2022: Equity 50.1B USD · Long-term debt 19.7B USD
- Fiscal year 2023: Equity 53.5B USD · Long-term debt 18.4B USD
- Fiscal year 2024: Equity 49.5B USD · Long-term debt 16.0B USD
- Fiscal year 2025: Equity 52.5B USD · Long-term debt 18.4B USD
Liquidity (current ratio)
The current ratio stayed roughly the same in 5 years (1.87).
Current ratio- Fiscal year 2016: Current ratio 0.97
- Fiscal year 2017: Current ratio 1.43
- Fiscal year 2018: Current ratio 1.47
- Fiscal year 2019: Current ratio 5.19
- Fiscal year 2020: Current ratio 1.86
- Fiscal year 2021: Current ratio 1.43
- Fiscal year 2022: Current ratio 1.89
- Fiscal year 2023: Current ratio 1.68
- Fiscal year 2024: Current ratio 1.40
- Fiscal year 2025: Current ratio 1.87
Cash flow
Free cash flow stayed roughly the same in 5 years (5.3B USD).
Operating cash flowCapital expenditureFree cash flow in USD- Fiscal year 2016: Operating cash flow 3.5B USD · Capital expenditure 589.6M USD · Free cash flow 2.9B USD
- Fiscal year 2017: Operating cash flow 3.5B USD · Capital expenditure 619.6M USD · Free cash flow 2.9B USD
- Fiscal year 2018: Operating cash flow 4.0B USD · Capital expenditure 655.7M USD · Free cash flow 3.4B USD
- Fiscal year 2019: Operating cash flow 4.0B USD · Capital expenditure 635.5M USD · Free cash flow 3.3B USD
- Fiscal year 2020: Operating cash flow 6.2B USD · Capital expenditure 791.0M USD · Free cash flow 5.4B USD
- Fiscal year 2021: Operating cash flow 8.4B USD · Capital expenditure 1.3B USD · Free cash flow 7.1B USD
- Fiscal year 2022: Operating cash flow 8.5B USD · Capital expenditure 1.2B USD · Free cash flow 7.4B USD
- Fiscal year 2023: Operating cash flow 7.2B USD · Capital expenditure 1.4B USD · Free cash flow 5.8B USD
- Fiscal year 2024: Operating cash flow 6.7B USD · Capital expenditure 1.4B USD · Free cash flow 5.3B USD
- Fiscal year 2025: Operating cash flow 6.4B USD · Capital expenditure 1.2B USD · Free cash flow 5.3B USD
Share count
The share count stayed roughly the same in 5 years.
Diluted share count- Fiscal year 2016: Diluted share count 699.8M
- Fiscal year 2017: Diluted share count 706.1M
- Fiscal year 2018: Diluted share count 710.2M
- Fiscal year 2019: Diluted share count 725.5M
- Fiscal year 2020: Diluted share count 718.7M
- Fiscal year 2021: Diluted share count 736.8M
- Fiscal year 2022: Diluted share count 737.1M
- Fiscal year 2023: Diluted share count 743.1M
- Fiscal year 2024: Diluted share count 737.2M
- Fiscal year 2025: Diluted share count 716.1M
From annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
Dividends and share repurchases
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
- Dividend per share
- none pays no dividend
- To shareholders (4 years)
- 9.1B USD 100% through repurchases
- Share count over 5 years
- −0.4% roughly unchanged
What goes back to shareholders
Over 4 years, 9.1B USD went back to shareholders, 100% of it through share repurchases. That is 38% of the free cash flow of those years.
Dividends paidShare repurchasesNew shares issued (including employee plans)Free cash flow in USD- Fiscal year 2016: Dividends paid not available · Share repurchases not available · New shares issued (including employee plans) 164.5M USD · Free cash flow 2.9B USD
- Fiscal year 2017: Dividends paid not available · Share repurchases not available · New shares issued (including employee plans) 68.8M USD · Free cash flow 2.9B USD
- Fiscal year 2018: Dividends paid not available · Share repurchases not available · New shares issued (including employee plans) 96.0M USD · Free cash flow 3.4B USD
- Fiscal year 2019: Dividends paid not available · Share repurchases not available · New shares issued (including employee plans) 1.4B USD · Free cash flow 3.3B USD
- Fiscal year 2020: Dividends paid not available · Share repurchases not available · New shares issued (including employee plans) 1.7B USD · Free cash flow 5.4B USD
- Fiscal year 2021: Dividends paid not available · Share repurchases not available · New shares issued (including employee plans) 0.0 USD · Free cash flow 7.1B USD
- Fiscal year 2022: Dividends paid not available · Share repurchases 0.0 USD · New shares issued (including employee plans) 0.0 USD · Free cash flow 7.4B USD
- Fiscal year 2023: Dividends paid not available · Share repurchases 0.0 USD · New shares issued (including employee plans) not available · Free cash flow 5.8B USD
- Fiscal year 2024: Dividends paid not available · Share repurchases 6.0B USD · New shares issued (including employee plans) not available · Free cash flow 5.3B USD
- Fiscal year 2025: Dividends paid not available · Share repurchases 3.1B USD · New shares issued (including employee plans) not available · Free cash flow 5.3B USD
Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
Valuation over time
Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users. Log in
Sector comparison
Danaher Corporation next to 8 stocks of the sector Health Care we cover that are closest in revenue. Click a column header to sort the table.
| Symbol | Revenue (FY) | Growth 5 yrs | Gross margin | Op. margin | Net margin | ROE | Equity ratio | FCF margin | Piotroski |
|---|---|---|---|---|---|---|---|---|---|
| BMY Bristol Myers Squibb | 48.2B USD | +2.5% | 71.1% | – | 14.6% | 38.2% | 20.5% | 26.7% | 8/9 |
| TMO Thermo Fisher Scientific | 44.6B USD | +6.7% | – | 17.4% | 15.0% | 12.6% | 48.4% | 14.1% | – |
| ABT Abbott Laboratories | 44.3B USD | +5.1% | 56.4% | 18.2% | 14.7% | 12.5% | 60.1% | 16.7% | 6/9 |
| AMGN Amgen | 36.8B USD | +7.6% | 67.2% | 24.7% | 21.0% | 89.1% | 9.6% | 22.0% | 7/9 |
| MDT Medtronic | 36.4B USD | +3.8% | 65.0% | 17.8% | 13.2% | 9.7% | 53.2% | 14.9% | 7/9 |
| GILD Gilead Sciences | 29.4B USD | +3.6% | 78.8% | 34.0% | 28.9% | 37.5% | 38.5% | 32.1% | 8/9 |
| SYK Stryker Corporation | 25.1B USD | +11.8% | 64.0% | 19.5% | 12.9% | 14.5% | 46.9% | 17.1% | 6/9 |
| DHR Danaher Corporation this stock | 24.6B USD | +2.0% | 59.1% | 19.1% | 14.7% | 6.9% | 62.9% | 21.4% | 7/9 |
| REGN Regeneron Pharmaceuticals | 14.3B USD | +11.0% | – | 24.9% | 31.4% | 14.4% | 77.1% | 28.4% | – |
| Median of the sector 26 symbols | 44.4B USD | +8.5% | 66.6% | 18.0% | 13.9% | 14.3% | 38.5% | 14.9% | 7/9 |
Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).
Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.
Key figures with traffic lights
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 63 symbols in the Health Care sector on our list (current members of the S&P 500 and other lists).
Revenue growth
Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth+2.0% per year, last 5 years
Sector Health Care: median +7.8% (60 symbols)
What does this mean? Revenue: over 5 years it grew by 2.0% per year on average, but more slowly than the median company in the sector (+7.8%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
Net income (total)
Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth−0.2% per year, last 5 years
Sector Health Care: median +7.5% (46 symbols)
per share: +0.6% per year (5 years, split-adjusted)
What does this mean? Total net income: over 5 years it fell by 0.2% per year on average. The median company in the sector reached +7.5% per year.
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
Net margin
Profit marginThe share of revenue that is left as profit after all costs.Example: Profit €60m on €500m revenue → margin 12%.More in the Academy: Lesson revenue, profit and margin14.7% last fiscal year
Sector Health Care: median 12.9% (63 symbols)
What does this mean? Of every 100 USD in revenue, 14.71 USD remained as profit – at least as much as the median company in the sector (12.9%). Five years ago the margin was 16.4%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
Debt / equity
Debt-to-equity ratioFinancial debt (loans, bonds) divided by equity. A high value amplifies good and bad years alike. The key figures bar in the chart only uses long-term financial debt.Example: Financial debt €300m, equity €500m → 0.6.More in the Academy: Lesson debt, dividends and growth0.49 latest balance sheet
Sector Health Care: median 0.66 (49 symbols)
What does this mean? For every 1 USD of equity there is 0.49 USD of financial debt – no more than the median company in the sector (0.66). More debt amplifies good and bad years alike.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
Payout ratio
Payout ratioThe share of profit that a company pays out as a dividend. Above 100% it pays out more than it earns.Example: Dividend €1, earnings per share €2.50 → payout ratio 40%.More in the Academy: Lesson debt, dividends and growth– Dividend / earnings per share
Sector Health Care: median 28% (31 symbols)
What does this mean? The loaded SEC filings of the last two fiscal years contain no dividend per share. Either the company pays none, or it reports it under a different tag.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
Profitable years
Profitable yearsHow many of the last fiscal years ended with a profit rather than a loss on the bottom line. The figure shows how consistently a company earns.Example: Profit in 9 of 10 years → one loss year.More in the Academy: Lesson revenue, profit and margin10 of 10 fiscal years with a profit
What does this mean? In 10 of the last 10 fiscal years the bottom line showed a profit. There were no losses in this period.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
All figures as a table
| Year | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| 2025 | Dec 31, 2025 | 24.6B | 3.6B | 14.7% | 5.05 | – | – |
| 2024 | Dec 31, 2024 | 23.9B | 3.9B | 16.3% | 5.29 | – | – |
| 2023 | Dec 31, 2023 | 23.9B | 4.8B | 19.9% | 6.38 | – | – |
| 2022 | Dec 31, 2022 | 31.5B | 7.2B | 22.9% | 9.66 | – | – |
| 2021 | Dec 31, 2021 | 29.5B | 6.4B | 21.8% | 8.61 | – | – |
| 2020 | Dec 31, 2020 | 22.3B | 3.6B | 16.4% | 4.89 | – | – |
| 2019 | Dec 31, 2019 | 17.9B | 3.0B | 16.8% | 4.05 | – | – |
| 2018 | Dec 31, 2018 | 19.9B | 2.7B | 13.3% | 3.74 | – | – |
| 2017 | Dec 31, 2017 | 18.3B | 2.5B | 13.6% | 3.53 | – | – |
| 2016 | Dec 31, 2016 | 16.9B | 2.6B | 15.1% | 3.65 | – | – |
| Quarter | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| Q3/26 | Sep 25, 2026 | 6.6B | 1.2B | 18.8% | 1.75 | – | – |
| Q2/26 | Jun 26, 2026 | 6.3B | 870.0M | 13.9% | 1.23 | – | – |
| Q1/26 | Mar 27, 2026 | 6.0B | 1.0B | 17.3% | 1.45 | – | – |
| Q4/25* | Dec 31, 2025 | 6.8B | 1.2B | 17.5% | – | – | – |
| Q3/25 | Sep 26, 2025 | 6.1B | 908.0M | 15.0% | 1.27 | – | – |
| Q2/25 | Jun 27, 2025 | 5.9B | 555.0M | 9.3% | 0.77 | – | – |
| Q1/25 | Mar 28, 2025 | 5.7B | 954.0M | 16.6% | 1.32 | – | – |
| Q4/24* | Dec 31, 2024 | 6.5B | 1.1B | 16.6% | – | – | – |
| Q3/24 | Sep 27, 2024 | 5.8B | 818.0M | 14.1% | 1.12 | – | – |
| Q2/24 | Jun 28, 2024 | 5.7B | 907.0M | 15.8% | 1.22 | – | – |
| Q1/24 | Mar 29, 2024 | 5.8B | 1.1B | 18.8% | 1.45 | – | – |
| Q4/23* | Dec 31, 2023 | 6.4B | 1.1B | 16.8% | 1.45 | – | – |
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
Insiders
Insider transactionsExecutives, directors and major shareholders (over 10%) of US companies report their own transactions in their company’s stock to the SEC within two business days (Form 4). Purchases in the market count as more meaningful than sales (often taxes, estate planning).Example: Three executives acquire stock worth a total of 2 million USD within two weeks → “purchases by several insiders”.More in the Academy: Glossary| Period | Purchases | Sales | Net |
|---|---|---|---|
| 3 months | $00 people | $12.7M1 person | −$12.7M |
| 6 months | $00 people | $13.0M2 people | −$13.0M |
| 12 months | $00 people | $257.9M8 people | −$257.9M |
Latest transactions
- Aug 21, 2026 Blair Rainer Chief executive (CEO), Director Open-market sale 7,755 shares · $1.7M · SEC
- Aug 21, 2026 Blair Rainer Chief executive (CEO), Director Open-market sale 39,193 shares · $8.6M · SEC
- Aug 21, 2026 Blair Rainer Chief executive (CEO), Director Open-market sale 11,307 shares · $2.5M · SEC
- May 1, 2026 Spoon Alan G Director Open-market sale 1,358 shares · $237.2K · SEC
- Feb 19, 2026 Milosevich Gregory M Officer Open-market sale 1,320 shares · $274.6K · SEC
- Nov 25, 2025 Rales Mitchell P Officer, Director Open-market sale 4,726 shares · $1.1M · SEC
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
Trend score +100
Price vs. EMA 50+15
Price vs. EMA 200+15
EMA 50 vs. EMA 200+20
ADX (trend strength)+15
Highs and lows+20
Relative strength+15
Volatility and trend strength
ADX 14 (trend strength)32.1
Rel. strength 60 d+16.3%
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.
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News
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