Danaher Corporation (DHR) stock analysis
Company overview and business model
Source fact: Danaher Corporation designs, manufactures, and markets professional, medical, research, and industrial products and services in the United States, China, and internationally. The company operates through Biotechnology, Life Sciences, and Diagnostics segments. The Biotechnology segment provides technologies, consumables, services, and solutions that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, and aseptic fill finish; single-use hardware, consumables, and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services for diagnostic and assay development; and healthcare filtration solutions. The Life Sciences segment provides mass spectrometers; bioanalytical measurement systems; flow cytometry, genomics, lab automation, centrifugation, liquid handling automation instruments, antibodies and reagents, and particle counting and characterization; genome sample preparation; microscopes; protein consumables; filtration products; and genomic medicines, such as custom nucleic acid products, and plasmid DNA, RNA, and proteins under the ABCAM, ALDEVRON, BECKMAN COULTER, GENEDATA, IDT, LEICA MICROSYSTEMS, MOLECULAR DEVICES, PALL, PHENOMENEX, and SCIEX brands. The Diagnostics segment offers clinical instruments, consumables, software, and services that hospitals, physicians' offices, reference laboratories and other critical care settings use to diagnose disease and make treatment decisions. The company was formerly known as Diversified Mortgage Investors, Inc. and changed its name to Danaher Corporation in 1984. Danaher Corporation was incorporated in 1969 and is headquartered in Washington, the District Of Columbia.
Classification: NYSE · Healthcare · Diagnostics & Research
Revenue and growth
Source fact: Revenue was USD 24.57 billion for the period ending 2025-12-31.
Caverian calculation: Revenue changed +2.9% (FY2025 vs FY2024).
Profitability
Source fact: Net income was USD 3.61 billion in the latest reported period.
Source metric: Reported net margin was 14.7%.
Balance sheet and liquidity
Source fact: Cash and equivalents were USD 4.62 billion.
Source fact: Total debt was USD 19.70 billion.
Source metric: Current ratio was 1.87x.
Cash-flow analysis
Source fact: Operating cash flow was USD 6.42 billion.
Source fact: Free cash flow was USD 5.26 billion.
Valuation
Source metrics: Trailing P/E 35.61x; Forward P/E 22.74x; Price to book 2.83x; Price to sales 5.92x; EV/EBITDA 21.45x.
Caverian model output: Value score was 47/100.
Competitive position
Classification: Peer context: Diagnostics & Research within Healthcare.
Caverian model output: Quality score was 69/100.
Caverian model output: Growth score was 47/100.
Material risks
Caverian calculation: Altman Z-score was 4.23 (safe zone).
Caverian calculation: Piotroski F-score was 4/9.
Data sources and freshness
Freshness: This report uses a stored upstream snapshot; statement periods are shown alongside the figures.
Methodology and limitations
Facts reproduce stored upstream fields. Calculations derive only from the displayed stored statements. Model outputs are Caverian interpretations, not investment advice or a buy/sell recommendation.
How Caverian approaches valuation · Sources and product principles