“The year-over-year increase in cash provided by financing activities was primarily due to higher proceeds from borrowings in 2026 compared to 2025, partially offset by the 2026 repayments of long-term borrowings and lower cash used to repurchase the Company’s…”10-Q · Jul 21, 2026 ↗
Danaher Corporation
DHR
Market read
Danaher Corporation's current read is isolated; its market group is not confirming.
The latest filing is mixed. 0 of 30 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 13 directly disclosed connections are confirming.
- Revenue increased 3.7% versus the comparable filing period.
- Gross margin fell 0.8 percentage points.
- DHR's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if DHR's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing is mixed. 0 of 30 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 13 directly disclosed connections are confirming.
- Revenue increased 3.7% versus the comparable filing period.
- Gross margin fell 0.8 percentage points.
- DHR's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Operating cash flow covered net income at 1.78x in the latest annual period.
- Foreign exchange has repeated favorable evidence across 5 filings.
- Operating margin changed -1.3 percentage points in the latest annual period.
- Net margin changed -1.6 percentage points in the latest annual period.
- Credit and interest rates has repeated adverse evidence across 5 filings.
- Restructuring and cost reductions has repeated adverse evidence across 5 filings.
- Capital investment and capacity has repeated adverse evidence across 3 filings.
- EV/sales is 31% below the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 9, 2026
204.94Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“The decrease in segment core sales in the six-month period ended June 26, 2026 was primarily driven by decreased year-over-year demand for respiratory tests in the molecular diagnostics business, partially offset by increased demand in the clinical diagnostic…”10-Q · Jul 21, 2026 ↗
“The foreign currency translation losses in both the three and six-month periods ended June 26, 2026 were primarily driven by the change in the exchange rates between the U.S.”10-Q · Jul 21, 2026 ↗
“For the six-month period ended June 27, 2025, the effective tax rate was reduced by the tax effect from an intangible asset impairment in a jurisdiction with a higher statutory tax rate than the Company’s effective tax rate and the release of reserves for unc…”10-Q · Jul 21, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 6.0× · EV/sales 6.7×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 11:15 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for DHR. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
The latest filing presents a mixed picture
10-Q filed 2026-04-21 against the comparable filing from 2025-04-22.
What improved
- Revenue increased 3.7% versus the comparable filing period.
What weakened
- Gross margin fell 0.8 percentage points.
Filing receipts
“Year-over-year gross profit margin decreased during the three-month period ended March 27, 2026 as compared to the comparable period in 2025 primarily due to product mix, the impact of currency exchange rates and tariff costs, partially offset by the impact of continued productivity improvement initiatives and higher year-over-year sales volumes.”
“The increase in net earnings and diluted net earnings per common share for the three-month period ended March 27, 2026 compared to the three-month period ended March 28, 2025 was primarily driven by increased core sales and lower net interest expense.”
“In the life sciences consumables businesses the year-over-year core sales increase was primarily driven by increased demand for plasmids products, partially offset by lower demand for gene reading and gene writing and editing products.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind DHR
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
MASIFiling-linked namepartnerApr 21, 2026 ▾
“Our acquisition of businesses (including our pending acquisition of Masimo Corporation), investments, joint ventures and other strategic relationships can also negatively impact our business and financial statements and our indemnification rights may not full…”
Depended on by
VLTOVeralto CorporationpartnerApr 29, 2026 ▾
“In connection with the Separation, the Company entered into certain agreements with Danaher, including a tax matters agreement.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 11 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
DHR is currently a Participant in the organic co-movement group Mixed Multi-Sector. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for DHR; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.