Revenue
$24.57B
Fiscal year ended 2025-12-31Operating income
$4.69B
Fiscal year ended 2025-12-31Free cash flow
$5.26B
Fiscal year ended 2025-12-31DANAHER CORP /DE/ (DHR) reported revenue of $24.57B and net income of $3.61B for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from DANAHER CORP /DE/’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Industrial Instruments For Measurement, Display, and Control.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $24.57B | $23.88B | $23.89B | $26.64B | $24.80B | $22.28B | $17.91B | $17.05B | $15.52B | $16.88B |
| Cost of revenue | $10.04B | $9.67B | $9.86B | $10.46B | $9.56B | $9.81B | $7.93B | $7.54B | $6.95B | $7.55B |
| Gross profit | $14.52B | $14.21B | $14.03B | $16.19B | $15.24B | $12.48B | $9.98B | $9.50B | $8.57B | $9.33B |
| Operating income | $4.69B | $4.86B | $5.20B | $7.54B | $6.38B | $4.23B | $3.27B | $3.06B | $2.57B | $2.74B |
| Net income | $3.61B | $3.90B | $4.76B | $7.21B | $6.43B | $3.65B | $3.01B | $2.65B | $2.49B | $2.55B |
| Research & development | $1.60B | $1.58B | $1.50B | $1.53B | $1.50B | $1.35B | $1.13B | $1.06B | $956.40M | $975.10M |
| Weighted-average diluted shares | shares 716.10M | shares 737.20M | shares 743.10M | shares 737.10M | shares 736.80M | shares 718.70M | shares 725.50M | shares 710.20M | shares 706.10M | shares 699.80M |
| Pretax income | $4.23B | $4.65B | $5.04B | $7.15B | $6.51B | $4.50B | $3.30B | $2.96B | $2.54B | $2.61B |
| Income tax expense | $633.00M | $747.00M | $823.00M | $818.00M | $1.06B | $849.00M | $873.00M | $556.00M | $371.00M | $457.90M |
| Diluted EPS | $5.05 | $5.29 | $6.38 | $9.66 | $8.61 | $4.89 | $4.05 | $3.74 | $3.53 | $3.65 |
| Selling, general & administrative | $8.24B | $7.76B | $7.33B | $7.12B | $6.82B | $6.90B | $5.59B | $5.39B | $5.04B | $5.62B |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $19.91B | $787.80M | $630.30M | $963.70M |
| Total assets | $83.46B | $77.54B | $84.49B | $84.35B | $83.18B | $76.16B | $62.08B | $47.83B | $46.65B | $45.30B |
| Current assets | $12.76B | $9.50B | $13.94B | $15.88B | $11.65B | $13.80B | $25.60B | $7.09B | $6.85B | $6.67B |
| Total liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Current liabilities | $6.81B | $6.80B | $8.27B | $8.39B | $8.14B | $7.40B | $4.93B | $4.84B | $4.79B | $6.87B |
| Total equity incl. NCI | $52.54B | $49.55B | $53.49B | $50.09B | $45.18B | $39.78B | $30.28B | $28.22B | $26.37B | $23.08B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | $2.49B | $2.33B | $2.59B | $2.76B | $2.77B | $2.29B | $1.63B | $1.63B | $1.84B | $1.71B |
| Accounts receivable | $3.91B | $3.54B | $3.92B | $4.10B | $4.63B | $4.04B | $3.19B | $3.03B | $3.52B | $3.19B |
| Goodwill | $43.15B | $40.50B | $41.61B | $37.28B | $38.68B | $35.42B | $22.71B | $22.58B | $21.77B | $23.83B |
| Long-term debt | $18.42B | $15.50B | $16.71B | $19.09B | $22.17B | $21.19B | $21.52B | $9.69B | $10.33B | $9.67B |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $6.42B | $6.69B | $7.16B | $8.52B | $8.36B | $6.21B | $3.95B | $4.02B | $3.48B | $3.52B |
| Capital expenditures | $1.16B | $1.39B | $1.38B | $1.12B | $1.24B | $791.00M | $636.00M | $584.00M | $570.70M | $589.60M |
| Investing cash flow | -$1.20B | -$1.98B | -$7.08B | -$2.23B | -$12.99B | -$21.24B | -$1.24B | -$2.95B | -$843.40M | -$5.24B |
| Financing cash flow | -$2.96B | -$8.38B | -$273.00M | -$2.57B | $1.30B | $1.01B | $16.36B | -$797.00M | -$3.10B | $2.04B |
| Net change in cash | $2.54B | -$3.79B | -$131.00M | $3.41B | -$3.45B | -$13.88B | $19.12B | $158.00M | -$333.40M | $172.90M |
| Stock-based compensation | $298.00M | $288.00M | $306.00M | $295.00M | $184.00M | $187.00M | $159.00M | $138.00M | $127.10M | $129.80M |
| Common dividends paid | $878.00M | $768.00M | $821.00M | $818.00M | $742.00M | $615.00M | $527.00M | $433.00M | $378.30M | $399.80M |
| Common share repurchases | $3.09B | $5.98B | $0 | $0 | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Depreciation & amortization | Unavailable | Unavailable | $2.17B | $2.13B | $2.06B | $1.78B | $1.19B | $1.18B | $1.12B | $1.13B |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | $5.26B | $5.30B | $5.78B | $7.40B | $7.12B | $5.42B | $3.32B | $3.44B | $2.91B | $2.93B |
| Gross margin | 59.1% | 59.5% | 58.7% | 60.8% | 61.4% | 56.0% | 55.7% | 55.8% | 55.2% | 55.3% |
| Operating margin | 19.1% | 20.4% | 21.8% | 28.3% | 25.7% | 19.0% | 18.3% | 17.9% | 16.6% | 16.2% |
| FCF margin | 21.4% | 22.2% | 24.2% | 27.8% | 28.7% | 24.3% | 18.5% | 20.2% | 18.7% | 17.4% |
| SBC / revenue | 1.2% | 1.2% | 1.3% | 1.1% | 0.7% | 0.8% | 0.9% | 0.8% | 0.8% | 0.8% |
| Current ratio | 1.87x | 1.40x | 1.68x | 1.89x | 1.43x | 1.86x | 5.19x | 1.47x | 1.43x | 0.97x |
| Revenue YoY growth | 2.9% | -0.1% | -10.3% | 7.4% | 11.3% | 24.4% | 5.1% | 9.9% | -8.1% | Unavailable |
| Net margin | 14.7% | 16.3% | 19.9% | 27.1% | 25.9% | 16.4% | 16.8% | 15.5% | 16.1% | 15.1% |
| R&D / revenue | 6.5% | 6.6% | 6.3% | 5.7% | 6.0% | 6.0% | 6.3% | 6.2% | 6.2% | 5.8% |
| CapEx / revenue | 4.7% | 5.8% | 5.8% | 4.2% | 5.0% | 3.5% | 3.6% | 3.4% | 3.7% | 3.5% |
| Long-term debt / equity | 0.35x | 0.31x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 0.42x |
| Effective tax rate | 15.0% | 16.1% | 16.3% | 11.4% | 16.3% | 18.9% | 26.4% | 18.8% | 14.6% | 17.5% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open DHR in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-07-21View SEC filing
10-Q · Filed 2026-04-21View SEC filing
10-K · Filed 2026-02-24View SEC filing
10-Q · Filed 2025-10-21View SEC filing
10-Q · Filed 2025-07-22View SEC filing
10-Q · Filed 2025-04-22View SEC filing
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.