Danaher Corporation, founded in 1969, is a global science and technology innovator specializing in life sciences, diagnostics, and environmental solutions. The company employs a strategic model centered on acquisitions and continuous operational improvement via the Danaher Business System. Its flagship offerings, such as Beckman Coulter diagnostic instruments and Leica Microsystems imaging systems, highlight its commitment to technological precision. Led by CEO Thomas P. Joyce since 2000 and reporting approximately $32 billion in revenue in fiscal 2022, Danaher is well-positioned for continued growth through advanced technology investments.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
24,568,000
23,875,000
23,890,000
26,643,000
Cost of Sales
10,045,000
9,669,000
9,856,000
10,455,000
Gross Profit
14,523,000
14,206,000
14,034,000
16,188,000
Selling, General & Administrative Expenses
8,235,000
7,759,000
7,329,000
7,124,000
Research & Development Expenses
1,598,000
1,584,000
1,503,000
1,528,000
Operating Profit
4,690,000
4,863,000
5,202,000
7,536,000
Interest and Investment Income
30,000
117,000
303,000
41,000
Interest Expense
(265,000)
(278,000)
(286,000)
(204,000)
Non-Operating Income
(222,000)
(56,000)
(175,000)
(227,000)
Total Non-Operating Income
(457,000)
(217,000)
(158,000)
(390,000)
Income Before Provision for Income Taxes
4,233,000
4,646,000
5,044,000
7,146,000
Provision for Income Taxes
633,000
747,000
823,000
818,000
Consolidated Net Income
3,600,000
3,899,000
4,221,000
6,328,000
Net Income Attributable to Preferred Dividends
—
—
21,000
106,000
Net Income Attributable to Discontinued Operations
14,000
—
543,000
881,000
Net Income Attributable to Common Shareholders
3,614,000
3,899,000
4,743,000
7,103,000
Basic EPS
5.07
5.33
6.44
8.58
Diluted EPS
5.05
5.29
6.38
8.47
Basic Weighted Average Shares Outstanding
712,700
731,000
736,500
725,100
Diluted Weighted Average Shares Outstanding
716,100
737,200
743,100
737,100
Shares Outstanding
706,900
719,100
739,200
728,300
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
4,615,000
2,078,000
5,864,000
5,995,000
Total Cash and Cash Equivalents
4,615,000
2,078,000
5,864,000
5,995,000
Accounts Receivable
3,913,000
3,537,000
3,922,000
4,102,000
Total Trade Receivables
3,913,000
3,537,000
3,922,000
4,102,000
Inventories
2,489,000
2,330,000
2,594,000
2,765,000
Other Current Assets
1,739,000
1,552,000
1,557,000
3,021,000
Total Current Assets
12,756,000
9,497,000
13,937,000
15,883,000
Net Property, Plant & Equipment
5,531,000
4,990,000
4,553,000
3,709,000
Net Intangible Assets
17,817,000
18,568,000
20,746,000
19,821,000
Goodwill
43,151,000
40,497,000
41,608,000
37,276,000
Other Long-Term Assets
4,209,000
3,990,000
3,644,000
7,661,000
Total Assets
83,464,000
77,542,000
84,488,000
84,350,000
Accounts Payable
1,844,000
1,753,000
1,766,000
1,856,000
Accrued Expenses
4,961,000
4,540,000
4,813,000
4,815,000
Short-Term Debt
2,000
505,000
1,695,000
591,000
Other Current Liabilities
—
—
—
1,127,000
Total Current Liabilities
6,807,000
6,798,000
8,274,000
8,389,000
Long-Term Debt
18,416,000
15,500,000
16,707,000
19,086,000
Other Long-Term Liabilities
5,700,000
5,694,000
6,017,000
6,785,000
Total Long-Term Liabilities
24,116,000
21,194,000
22,724,000
25,871,000
Total Liabilities
30,923,000
27,992,000
30,998,000
34,260,000
Preferred Stock
—
—
—
1,668,000
Common Stock
9,000
9,000
9,000
9,000
Treasury Stock
(11,353,000)
(8,163,000)
(2,019,000)
—
Additional Paid-in Capital
17,194,000
16,727,000
16,170,000
12,072,000
Accumulated Other Comprehensive Income
(207,000)
(3,218,000)
(1,748,000)
(2,872,000)
Retained Earnings
46,891,000
44,188,000
41,074,000
39,205,000
Total Common Shareholders' Equity
52,534,000
49,543,000
53,486,000
50,082,000
Minority Interests and Other
7,000
7,000
4,000
8,000
Total Shareholders' Equity
52,541,000
49,550,000
53,490,000
50,090,000
Total Liabilities and Shareholders' Equity
83,464,000
77,542,000
84,488,000
84,350,000
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
3,600,000
3,899,000
4,221,000
6,328,000
Depreciation & Amortization
2,447,000
2,352,000
2,166,000
2,132,000
Share-Based Compensation Expense
298,000
288,000
306,000
295,000
Other Adjustments
350,000
(136,000)
(937,000)
(311,000)
Changes in Trade Receivables
(216,000)
331,000
322,000
(389,000)
Changes in Inventories
(58,000)
147,000
185,000
(448,000)
Changes in Accounts Payable
9,000
19,000
(149,000)
(18,000)
Changes in Accrued Expenses
41,000
(486,000)
(43,000)
97,000
Changes in Other Operating Activities
(55,000)
274,000
1,093,000
833,000
Cash from Operating Activities
6,416,000
6,688,000
7,164,000
8,519,000
Capital Expenditure
(1,156,000)
(1,392,000)
(1,383,000)
(1,118,000)
Proceeds from Sale of Property, Plant & Equipment
33,000
13,000
12,000
9,000
Purchases of Investments
(127,000)
(331,000)
(172,000)
(523,000)
Proceeds from Sale of Investments
12,000
253,000
61,000
18,000
Payments for Business Acquisitions
—
(558,000)
(5,610,000)
(582,000)
Proceeds from Business Divestments
—
9,000
—
—
Other Investing Activities
33,000
34,000
11,000
(38,000)
Cash from Investing Activities
(1,196,000)
(1,981,000)
(7,081,000)
(2,234,000)
Issuance of Long-Term Debt
1,556,000
—
—
—
Repayments of Long-Term Debt
(500,000)
(1,674,000)
(620,000)
(965,000)
Net Issuance / (Repayments) of Long-Term Debt
1,056,000
(1,674,000)
(620,000)
(965,000)
Issuance of Common Shares
85,000
162,000
68,000
31,000
Repurchases of Common Shares
(3,088,000)
(5,979,000)
—
—
Net Issuance / (Repurchases) of Common Shares
(3,003,000)
(5,817,000)
68,000
31,000
Common Share Dividends Paid
(878,000)
(768,000)
(821,000)
(818,000)
Other Financing Activities
(136,000)
(126,000)
1,100,000
(818,000)
Cash from Financing Activities
(2,961,000)
(8,385,000)
(273,000)
(2,570,000)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
278,000
(108,000)
59,000
(306,000)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash