DANAHER CORPORATION

EDGAR

Annual consolidated revenue for 2025: about USD 24.57B, using the latest reported figures. The previous period, 2024, was about USD 23.88B.

Watchlist

Latest quarter

Revenue

6.55 billion USD

2026-09-25 · USD

Exact inputs and evidence
  • Revenue: 6554000000 USD Source

Operating margin

19%

2026-09-25 · %

Exact inputs and evidence
  • Operating Income: 1245000000 USD Source
  • Revenue: 6554000000 USD Source

Operating cash flow

1.89 billion USD

2026-09-25 · USD

Exact inputs and evidence
  • Operating Cash Flow: 4742000000 USD Source
  • Operating Cash Flow: 2856000000 USD Source

Free cash flow

1.63 billion USD

2026-09-25 · USD

Exact inputs and evidence
  • Operating Cash Flow: 4742000000 USD Source
  • Operating Cash Flow: 2856000000 USD Source
  • Capital Expenditure: 761000000 USD Source
  • Capital Expenditure: 506000000 USD Source
Cash and cash equivalents
5.69 billion USD Source
Exact value

5687700000 USD

Long-term debt including current maturities
26.5 billion USD Source
Exact value

26482000000 USD

Shares outstanding
703 million shares Source
Exact value

703400000 shares

Reported share-count change

-0.41% · -2.9 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 706300000 shares · 2025-09-26· Source
  • 703400000 shares · 2026-09-25· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

25.6 billion USD

2025-09-27 – 2026-09-25

Exact inputs and evidence
  • Revenue: 24568000000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 17730000000 USD · 2025-01-01 – 2025-09-26 Source
  • Revenue: 5951000000 USD · 2026-01-01 – 2026-03-27 Source
  • Revenue: 6265000000 USD · 2026-03-28 – 2026-06-26 Source
  • Revenue: 6554000000 USD · 2026-06-27 – 2026-09-25 Source

Net income

4.33 billion USD

2025-09-27 – 2026-09-25

Exact inputs and evidence
  • Net income: 3614000000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: 2417000000 USD · 2025-01-01 – 2025-09-26 Source
  • Net income: 1029000000 USD · 2026-01-01 – 2026-03-27 Source
  • Net income: 870000000 USD · 2026-03-28 – 2026-06-26 Source
  • Net income: 1235000000 USD · 2026-06-27 – 2026-09-25 Source

Operating cash flow

6.86 billion USD

2025-09-27 – 2026-09-25

Exact inputs and evidence
  • Operating cash flow: 6416000000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 4299000000 USD · 2025-01-01 – 2025-09-26 Source
  • Operating cash flow: 1322000000 USD · 2026-01-01 – 2026-03-27 Source
  • Operating cash flow: 2856000000 USD · 2026-01-01 – 2026-06-26 Source
  • Operating cash flow: 1322000000 USD · 2026-01-01 – 2026-03-27 Source
  • Operating cash flow: 4742000000 USD · 2026-01-01 – 2026-09-25 Source
  • Operating cash flow: 2856000000 USD · 2026-01-01 – 2026-06-26 Source

Capital expenditure

1.13 billion USD

2025-09-27 – 2026-09-25

Exact inputs and evidence
  • Capital expenditure: 1156000000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 785000000 USD · 2025-01-01 – 2025-09-26 Source
  • Capital expenditure: 237000000 USD · 2026-01-01 – 2026-03-27 Source
  • Capital expenditure: 506000000 USD · 2026-01-01 – 2026-06-26 Source
  • Capital expenditure: 237000000 USD · 2026-01-01 – 2026-03-27 Source
  • Capital expenditure: 761000000 USD · 2026-01-01 – 2026-09-25 Source
  • Capital expenditure: 506000000 USD · 2026-01-01 – 2026-06-26 Source

Free cash flow

5.73 billion USD

2025-09-27 – 2026-09-25

Exact inputs and evidence
  • Operating cash flow: 6416000000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 4299000000 USD · 2025-01-01 – 2025-09-26 Source
  • Operating cash flow: 1322000000 USD · 2026-01-01 – 2026-03-27 Source
  • Operating cash flow: 2856000000 USD · 2026-01-01 – 2026-06-26 Source
  • Operating cash flow: 1322000000 USD · 2026-01-01 – 2026-03-27 Source
  • Operating cash flow: 4742000000 USD · 2026-01-01 – 2026-09-25 Source
  • Operating cash flow: 2856000000 USD · 2026-01-01 – 2026-06-26 Source
  • Capital expenditure: 1156000000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 785000000 USD · 2025-01-01 – 2025-09-26 Source
  • Capital expenditure: 237000000 USD · 2026-01-01 – 2026-03-27 Source
  • Capital expenditure: 506000000 USD · 2026-01-01 – 2026-06-26 Source
  • Capital expenditure: 237000000 USD · 2026-01-01 – 2026-03-27 Source
  • Capital expenditure: 761000000 USD · 2026-01-01 – 2026-09-25 Source
  • Capital expenditure: 506000000 USD · 2026-01-01 – 2026-06-26 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-21.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 11 of 11 periods available· newest 2025-12-31
  • Operating income: 11 of 11 periods available· newest 2025-12-31
  • Net income: 11 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 11 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 11 of 11 periods available· newest 2025-12-31
  • Total assets: 11 of 11 periods available· newest 2025-12-31
  • liabilities: No compatible figures in this window
  • Current assets: 11 of 11 periods available· newest 2025-12-31
  • Current liabilities: 11 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 5 of 11 periods available· newest 2019-12-31
  • Long-term debt including current maturities: 11 of 11 periods available· newest 2025-12-31
  • Shares outstanding: 11 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +2.9%

    Prior period

    USD 23.88 billion

    –

    Current period

    USD 24.57 billion

    –

    Exact inputs and evidence

    24568000000 − 23875000000 = 693000000 USD

    23875000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    24568000000 USD · 2025-01-01 – 2025-12-31

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  • Net income

    -7.3%

    Prior period

    USD 3.9 billion

    –

    Current period

    USD 3.61 billion

    –

    Exact inputs and evidence

    3614000000 − 3899000000 = -285000000 USD

    3899000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    3614000000 USD · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    -4.1%

    Prior period

    USD 6.69 billion

    –

    Current period

    USD 6.42 billion

    –

    Exact inputs and evidence

    6416000000 − 6688000000 = -272000000 USD

    6688000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    6416000000 USD · 2025-01-01 – 2025-12-31

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  • Capital expenditure

    -17%

    Prior period

    USD 1.39 billion

    –

    Current period

    USD 1.16 billion

    –

    Exact inputs and evidence

    1156000000 − 1392000000 = -236000000 USD

    1392000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    1156000000 USD · 2025-01-01 – 2025-12-31

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Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 24.57 billion 100% of revenue
  • Cost of revenue USD 10.05 billion 41% of revenue
  • Operating expenses USD 9.83 billion 40% of revenue
  • Operating income USD 4.69 billion 19% of revenue
  • Tax, interest and other Derived USD 1.08 billion 4.4% of revenue
  • Net income USD 3.61 billion 15% of revenue

Cash

  • Operating cash flow USD 6.42 billion 26% of revenue
  • Capital expenditure USD 1.16 billion 4.7% of revenue
  • Free cash flow Derived USD 5.26 billion 21% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2016 15%84%
  • 2017 16%83%
  • 2018 16%82%
  • 2019 17%82%
  • 2020 16%81%
  • 2021 Net income was higher than operating income, so the split is not drawn.
  • 2022 27%72%
  • 2023 20%78%
  • 2024 16%80%
  • 2025 15%81%
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2016 2016-01-01 – 2016-12-3116882400000 14147200000 Derived 2735200000 181500000 Derived 2553700000 2932200000 Derived
Source
2017 2017-01-01 – 2017-12-3115518800000 12946500000 Derived 2572300000 80200000 Derived 2492100000 2907100000 Derived
Source
2018 2018-01-01 – 2018-12-3117049000000 13994000000 Derived 3055000000 404000000 Derived 2651000000 3438000000 Derived
Source
2019 2019-01-01 – 2019-12-3117911000000 14642000000 Derived 3269000000 261000000 Derived 3008000000 3316000000 Derived
Source
2020 2020-01-01 – 2020-12-3122284000000 18053000000 Derived 4231000000 585000000 Derived 3646000000 5417000000 Derived
Source
2021 2021-01-01 – 2021-12-3124802000000 18425000000 Derived 6377000000 -56000000 Derived 6433000000 7118000000 Derived
Source
2022 2022-01-01 – 2022-12-3126643000000 19107000000 Derived 7536000000 327000000 Derived 7209000000 7401000000 Derived
Source
2023 2023-01-01 – 2023-12-3123890000000 18688000000 Derived 5202000000 438000000 Derived 4764000000 5781000000 Derived
Source
2024 2024-01-01 – 2024-12-3123875000000 19012000000 Derived 4863000000 964000000 Derived 3899000000 5296000000 Derived
Source
2025 2025-01-01 – 2025-12-3124568000000 19878000000 Derived 4690000000 1076000000 Derived 3614000000 5260000000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 24.6B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.28.8B21.6B14.4B7.2B0.0201620212025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Revenue16882400000
2017Revenue15518800000
2018Revenue17049000000
2019Revenue17911000000
2020Revenue22284000000
2021Revenue24802000000
2022Revenue26643000000
2023Revenue23890000000
2024Revenue23875000000
2025Revenue24568000000

Revenue growth

Change in revenue from the same financial period one year earlier.

2.9% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.27%17%7%-3%-13%201620212025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2016Year over year17%
2017Year over year-8.1%
2018Year over year9.9%
2019Year over year5.1%
2020Year over year24.4%
2021Year over year11.3%
2022Year over year7.4%
2023Year over year-10.3%
2024Year over year-0.1%
2025Year over year2.9%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 19.1% 2025
Net margin 14.7% 2025
Free cash flow margin 21.4% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.31.0%23.2%15.5%7.7%0.0%201620212025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2016Operating margin16.2%
2017Operating margin16.6%
2018Operating margin17.9%
2019Operating margin18.3%
2020Operating margin19%
2021Operating margin25.7%
2022Operating margin28.3%
2023Operating margin21.8%
2024Operating margin20.4%
2025Operating margin19.1%
2016Net margin15.1%
2017Net margin16.1%
2018Net margin15.5%
2019Net margin16.8%
2020Net margin16.4%
2021Net margin25.9%
2022Net margin27.1%
2023Net margin19.9%
2024Net margin16.3%
2025Net margin14.7%
2016Free cash flow margin17.4%
2017Free cash flow margin18.7%
2018Free cash flow margin20.2%
2019Free cash flow margin18.5%
2020Free cash flow margin24.3%
2021Free cash flow margin28.7%
2022Free cash flow margin27.8%
2023Free cash flow margin24.2%
2024Free cash flow margin22.2%
2025Free cash flow margin21.4%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 6.4B 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.9.2B6.9B4.6B2.3B0.0201620212025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Operating cash flow3521800000
2017Operating cash flow3477800000
2018Operating cash flow4022000000
2019Operating cash flow3952000000
2020Operating cash flow6208000000
2021Operating cash flow8358000000
2022Operating cash flow8519000000
2023Operating cash flow7164000000
2024Operating cash flow6688000000
2025Operating cash flow6416000000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 5.3B 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.8.0B6.0B4.0B2.0B0.0201620212025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Free cash flow2932200000
2017Free cash flow2907100000
2018Free cash flow3438000000
2019Free cash flow3316000000
2020Free cash flow5417000000
2021Free cash flow7118000000
2022Free cash flow7401000000
2023Free cash flow5781000000
2024Free cash flow5296000000
2025Free cash flow5260000000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

Not enough comparable data to show this history.
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2016-12-31Liabilities / assetsNot reported
2017-12-31Liabilities / assetsNot reported
2018-12-31Liabilities / assetsNot reported
2019-12-31Liabilities / assetsNot reported
2020-12-31Liabilities / assetsNot reported
2021-12-31Liabilities / assetsNot reported
2022-12-31Liabilities / assetsNot reported
2023-12-31Liabilities / assetsNot reported
2024-12-31Liabilities / assetsNot reported
2025-12-31Liabilities / assetsNot reported

Current assets to current liabilities

Current assets divided by current liabilities.

1.87× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.5.60×4.20×2.80×1.40×0.00×201620212025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2016Current assets / current liabilities0.97×
2017Current assets / current liabilities1.43×
2018Current assets / current liabilities1.47×
2019Current assets / current liabilities5.19×
2020Current assets / current liabilities1.86×
2021Current assets / current liabilities1.43×
2022Current assets / current liabilities1.89×
2023Current assets / current liabilities1.68×
2024Current assets / current liabilities1.4×
2025Current assets / current liabilities1.87×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2016 2016-01-01 – 2016-12-31
USD 2.55 billion
Exact value

Exact value: 2553700000 USD

2016-01-01 – 2016-12-31: 2553700000 USD Inspect Net Income Open source
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USD 3.52 billion
Exact value

Exact value: 3521800000 USD

2016-01-01 – 2016-12-31: 3521800000 USD Inspect Operating Cash Flow Open source
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USD 589.6 million
Exact value

Exact value: 589600000 USD

2016-01-01 – 2016-12-31: 589600000 USD Inspect Capital Expenditure Open source
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USD 2.93 billion
Calculation and evidence

3521800000 − 589600000 USD

Exact free cash flow: 2932200000 USD

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2017 2017-01-01 – 2017-12-31
USD 2.49 billion
Exact value

Exact value: 2492100000 USD

2017-01-01 – 2017-12-31: 2492100000 USD Inspect Net Income Open source
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USD 3.48 billion
Exact value

Exact value: 3477800000 USD

2017-01-01 – 2017-12-31: 3477800000 USD Inspect Operating Cash Flow Open source
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USD 570.7 million
Exact value

Exact value: 570700000 USD

2017-01-01 – 2017-12-31: 570700000 USD Inspect Capital Expenditure Open source
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USD 2.91 billion
Calculation and evidence

3477800000 − 570700000 USD

Exact free cash flow: 2907100000 USD

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2018 2018-01-01 – 2018-12-31
USD 2.65 billion
Exact value

Exact value: 2651000000 USD

2018-01-01 – 2018-12-31: 2651000000 USD Inspect Net Income Open source
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USD 4.02 billion
Exact value

Exact value: 4022000000 USD

2018-01-01 – 2018-12-31: 4022000000 USD Inspect Operating Cash Flow Open source
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USD 584 million
Exact value

Exact value: 584000000 USD

2018-01-01 – 2018-12-31: 584000000 USD Inspect Capital Expenditure Open source
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USD 3.44 billion
Calculation and evidence

4022000000 − 584000000 USD

Exact free cash flow: 3438000000 USD

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2019 2019-01-01 – 2019-12-31
USD 3.01 billion
Exact value

Exact value: 3008000000 USD

2019-01-01 – 2019-12-31: 3008000000 USD Inspect Net Income Open source
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USD 3.95 billion
Exact value

Exact value: 3952000000 USD

2019-01-01 – 2019-12-31: 3952000000 USD Inspect Operating Cash Flow Open source
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USD 636 million
Exact value

Exact value: 636000000 USD

2019-01-01 – 2019-12-31: 636000000 USD Inspect Capital Expenditure Open source
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USD 3.32 billion
Calculation and evidence

3952000000 − 636000000 USD

Exact free cash flow: 3316000000 USD

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2020 2020-01-01 – 2020-12-31
USD 3.65 billion
Exact value

Exact value: 3646000000 USD

2020-01-01 – 2020-12-31: 3646000000 USD Inspect Net Income Open source
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USD 6.21 billion
Exact value

Exact value: 6208000000 USD

2020-01-01 – 2020-12-31: 6208000000 USD Inspect Operating Cash Flow Open source
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USD 791 million
Exact value

Exact value: 791000000 USD

2020-01-01 – 2020-12-31: 791000000 USD Inspect Capital Expenditure Open source
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USD 5.42 billion
Calculation and evidence

6208000000 − 791000000 USD

Exact free cash flow: 5417000000 USD

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2021 2021-01-01 – 2021-12-31
USD 6.43 billion
Exact value

Exact value: 6433000000 USD

2021-01-01 – 2021-12-31: 6433000000 USD Inspect Net Income Open source
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USD 8.36 billion
Exact value

Exact value: 8358000000 USD

2021-01-01 – 2021-12-31: 8358000000 USD Inspect Operating Cash Flow Open source
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USD 1.24 billion
Exact value

Exact value: 1240000000 USD

2021-01-01 – 2021-12-31: 1240000000 USD Inspect Capital Expenditure Open source
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USD 7.12 billion
Calculation and evidence

8358000000 − 1240000000 USD

Exact free cash flow: 7118000000 USD

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2022 2022-01-01 – 2022-12-31
USD 7.21 billion
Exact value

Exact value: 7209000000 USD

2022-01-01 – 2022-12-31: 7209000000 USD Inspect Net Income Open source
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USD 8.52 billion
Exact value

Exact value: 8519000000 USD

2022-01-01 – 2022-12-31: 8519000000 USD Inspect Operating Cash Flow Open source
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USD 1.12 billion
Exact value

Exact value: 1118000000 USD

2022-01-01 – 2022-12-31: 1118000000 USD Inspect Capital Expenditure Open source
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USD 7.4 billion
Calculation and evidence

8519000000 − 1118000000 USD

Exact free cash flow: 7401000000 USD

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2023 2023-01-01 – 2023-12-31
USD 4.76 billion
Exact value

Exact value: 4764000000 USD

2023-01-01 – 2023-12-31: 4764000000 USD Inspect Net Income Open source
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USD 7.16 billion
Exact value

Exact value: 7164000000 USD

2023-01-01 – 2023-12-31: 7164000000 USD Inspect Operating Cash Flow Open source
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USD 1.38 billion
Exact value

Exact value: 1383000000 USD

2023-01-01 – 2023-12-31: 1383000000 USD Inspect Capital Expenditure Open source
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USD 5.78 billion
Calculation and evidence

7164000000 − 1383000000 USD

Exact free cash flow: 5781000000 USD

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2024 2024-01-01 – 2024-12-31
USD 3.9 billion
Exact value

Exact value: 3899000000 USD

2024-01-01 – 2024-12-31: 3899000000 USD Inspect Net Income Open source
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USD 6.69 billion
Exact value

Exact value: 6688000000 USD

2024-01-01 – 2024-12-31: 6688000000 USD Inspect Operating Cash Flow Open source
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USD 1.39 billion
Exact value

Exact value: 1392000000 USD

2024-01-01 – 2024-12-31: 1392000000 USD Inspect Capital Expenditure Open source
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USD 5.3 billion
Calculation and evidence

6688000000 − 1392000000 USD

Exact free cash flow: 5296000000 USD

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2025 2025-01-01 – 2025-12-31
USD 3.61 billion
Exact value

Exact value: 3614000000 USD

2025-01-01 – 2025-12-31: 3614000000 USD Inspect Net Income Open source
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USD 6.42 billion
Exact value

Exact value: 6416000000 USD

2025-01-01 – 2025-12-31: 6416000000 USD Inspect Operating Cash Flow Open source
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USD 1.16 billion
Exact value

Exact value: 1156000000 USD

2025-01-01 – 2025-12-31: 1156000000 USD Inspect Capital Expenditure Open source
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USD 5.26 billion
Calculation and evidence

6416000000 − 1156000000 USD

Exact free cash flow: 5260000000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

177 filings · 18,639 latest values · 18,639 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0000313616, 313616, DHR, dhr, edgar:313616

Also known as DANAHER CORP /DE/, DANAHER CORPORATION