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Danaher Corporation

DHR

Healthcare · 201.69 -1.7% today

Isolated · not yet confirmedMarket checked 10 Sept, 11:15 GMT-4

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.

What changed
  • Revenue increased 3.7% versus the comparable filing period.
  • Gross margin fell 0.8 percentage points.
Company-1.7% todayVolume comparison unavailable
Market group0 of 30 activeMixed Multi-Sector · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
  • 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.

Watch this read

Research brief

The story so far

Healthcare · Diagnostics & Research

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.

Evidence that supports
  • Revenue increased 3.7% versus the comparable filing period.
Evidence that challenges
  • Gross margin fell 0.8 percentage points.
What would clarify the read
  • DHR's market-adjusted activity becomes unusual and at least one connected name confirms.

Company research

Understand the business, not just the ticker

As of Sep 10, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations600
Usable filing statements205
Verified relationships10
Evidence supporting the case
  • Operating cash flow covered net income at 1.78x in the latest annual period.
  • Foreign exchange has repeated favorable evidence across 5 filings.
Evidence challenging the case
  • 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.
Questions before a position
  • EV/sales is 31% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 9, 2026

204.94
6m+5.0%12m+3.2%24m-22.5%
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$24.8B+11.3%+2.5%
2022-12-31$26.6B+7.4%+0.0%
2023-12-31$23.9B-10.3%+0.8%
2024-12-31$23.9B-0.1%-0.8%
2025-12-31$24.6B+2.9%-2.9%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesmixed · 5 filings
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
Demand and volumemixed · 5 filings
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
Foreign exchangemixed · 5 filings
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
Restructuring and cost reductionsmixed · 5 filings
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.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

201.69-1.7% today

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.

mixed
OperationsmixedEvidence score +1
liquidityneutralEvidence score 0
valuationmixed

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.