Stocktoria

DANAHER CORP /DE/ DHR

NYSE · stock · Industrial Instruments For Measurement, Display, and Control · website · IPO 1969-12-10

DANAHER CORP /DE/ statistics & valuation

Market cap$138.9B
P / E38.4×
P / S5.7×
P / B2.6×
P / FCF26.4×
Dividend yield0.63%
Net margin14.7%
Return on equity6.9%
FCF margin21.4%
Net debt$18.4B
Net debt / EBITDA3.4×
Enterprise value USD$157.3B
EV / EBITDA28.9×
Earnings yield EBIT/EV3%
Return on capital6.1%
Graham number -55.2%$91.31

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($91.31); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
15.10% 13.60% 13.30% 16.80% 16.40% 25.90% 27.10% 19.90% 16.30% 14.70% 2016201720182019202020212022202320242025
Gross margin (%)
55.30% 46.80% 47.80% 55.70% 56.00% 61.40% 60.80% 58.70% 59.50% 59.10% 2016201720182019202020212022202320242025
Operating margin (%)
16.20% 14.00% 15.40% 18.30% 19.00% 25.70% 28.30% 21.80% 20.40% 19.10% 2016201720182019202020212022202320242025
Return on equity (%)
11.10% 9.50% 9.40% 9.90% 9.20% 14.20% 14.40% 8.90% 7.90% 6.90% 2016201720182019202020212022202320242025
Shares outstanding
699.8M 706.1M 710.2M 725.5M 718.7M 736.8M 737.1M 743.1M 737.2M 716.1M 2016201720182019202020212022202320242025
Net debt ($)
$11.31B $9.89B $8.95B $1.82B $21.20B $22.18B $19.68B $18.40B $16.00B $18.42B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
5.60% 5.30% 5.50% 4.80% 4.80% 7.70% 8.50% 5.60% 5.00% 4.30% 2016201720182019202020212022202320242025
Free cash flow margin (%)
17.40% 15.90% 17.30% 18.50% 24.30% 28.70% 27.80% 24.20% 22.20% 21.40% 2016201720182019202020212022202320242025
Debt / equity (×)
0.53× 0.40× 0.35× 0.72× 0.53× 0.49× 0.39× 0.34× 0.32× 0.35× 2016201720182019202020212022202320242025
EPS ($)
$3.65 $3.53 $3.74 $4.05 $4.89 $8.61 $9.66 $6.38 $5.29 $5.05 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

DANAHER CORP /DE/ trades at about 40.4× earnings — above its 10-year norm (10-year range 20.4×–43.3×, median 35.2×).

20.4× 43.3×

Shaded band = 10-year range (20.4×–43.3×); dot = today's 40.4×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin59.1%59.5%58.7%60.8%61.4%56.0%55.7%47.8%46.8%55.3%
Operating margin19.1%20.4%21.8%28.3%25.7%19.0%18.3%15.4%14.0%16.2%
Net margin14.7%16.3%19.9%27.1%25.9%16.4%16.8%13.3%13.6%15.1%
FCF margin21.4%22.2%24.2%27.8%28.7%24.3%18.5%17.3%15.9%17.4%
Return on assets4.3%5.0%5.6%8.5%7.7%4.8%4.8%5.5%5.3%5.6%
Return on equity6.9%7.9%8.9%14.4%14.2%9.2%9.9%9.4%9.5%11.1%
Debt / equity0.35×0.32×0.34×0.39×0.49×0.53×0.72×0.35×0.40×0.53×
Current ratio1.871.401.681.891.431.865.191.471.430.97

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.