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1. Company Snapshot

1.a. Company Description

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide.The company operates through three segments: Life Sciences, Diagnostics, and Environmental & Applied Solutions.The Life Sciences segment provides mass spectrometers; flow cytometry, genomics, lab automation, centrifugation, particle counting and characterization; microscopes; genomics consumables; and Gene and Cell Therapy.


This segment also offers bioprocess technologies, consumables, and services; and filtration, separation, and purification technologies to the pharmaceutical and biopharmaceutical, food and beverage, medical, and life sciences companies, as well as universities, medical schools and research institutions, and various industrial manufacturers.The Diagnostics segment provides chemistry, immunoassay, microbiology, and automation systems, as well as hematology, molecular, acute care, and pathology diagnostics products.This segment offers clinical instruments, reagents, consumables, software, and services for hospitals, physicians' offices, reference laboratories, and other critical care settings.


The Environmental & Applied Solutions segment offers instrumentation, consumables, software, services, and disinfection systems to analyze, treat, and manage ultra-pure, potable, industrial, waste, ground, source, and ocean water in residential, commercial, industrial, and natural resource applications.This segment also provides instruments, software, services, and consumables for various color and appearance management, packaging design and quality management, packaging converting, printing, marking, coding, and traceability applications for consumer, pharmaceutical, and industrial products.The company was formerly known as Diversified Mortgage Investors, Inc.


and changed its name to Danaher Corporation in 1984.Danaher Corporation was founded in 1969 and is headquartered in Washington, the District of Columbia.

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1.b. Last Insights on DHR

Danaher Corporation's recent performance was driven by strong Q3 results, with revenues rising 4.5% to $6.1 billion and non-GAAP adjusted EPS of $1.89, surpassing Wall Street's consensus. The company's robust free cash flow of $1.37 billion underscores its operational strength. A positive 2026 guidance and robust performance in its Biotechnology segment also contributed to the momentum. Furthermore, Danaher’s management opted to reinvest Q3 outperformance and accelerate share buybacks, signaling confidence in future earnings expansion.

1.c. Company Highlights

2. Danaher Corporation's Q3 2025 Earnings: A Strong Performance

Danaher Corporation reported its third-quarter 2025 earnings, with sales of $6.1 billion and 3% core revenue growth. The company's gross profit margin was 58.2%, and its adjusted operating profit margin was 27.9%, up 40 basis points year-over-year. Adjusted diluted net earnings per common share were $1.89, up approximately 10% year-over-year, beating analyst estimates of $1.72. The company generated $1.4 billion of free cash flow in the quarter and $3.5 billion in the first three quarters of the year. During the quarter, Danaher deployed approximately $2 billion of capital towards the repurchase of 10 million shares of its common stock.

Publication Date: Oct -24

📋 Highlights
  • Strong Revenue Growth: Q3 sales reached $6.1 billion with 3% core revenue growth, reflecting stable performance across segments.
  • Margin Expansion: Adjusted operating profit margin increased 40 basis points to 27.9%, driven by productivity initiatives and cost actions.
  • Free Cash Flow Generation: Generated $1.4 billion in free cash flow for Q3 and $3.5 billion YTD, supporting capital deployment and shareholder returns.
  • Share Repurchases: $2 billion allocated to repurchase 10 million shares, reducing the share count and enhancing earnings per share (EPS).
  • 2026 Outlook: Expects 3-6% core revenue growth and over 100 basis points of adjusted operating margin expansion, targeting high single-digit EPS growth.

Segment Performance

The Biotechnology segment saw core revenue increase 6.5%, driven by high single-digit growth in bioprocessing, while the Life Sciences segment declined 1%, and Diagnostics increased 3.5%. The strong performance in bioprocessing was driven by the growing demand for biopharmaceuticals, with Cytiva having built up capacity and being ready for demand from onshoring. Orders growth or book-to-bill in the quarter was around 1, similar to previous quarters, with monoclonal antibodies growth being strong, driven by commercial volumes and new applications.

Outlook and Guidance

For the full year 2025, Danaher maintained its adjusted diluted net EPS guidance range of $7.70 to $7.80. Looking ahead to 2026, Danaher expects core revenue growth in the 3% to 6% range, assuming modest recovery across its end markets. The company anticipates high single-digit core growth in bioprocessing and a modest improvement in Life Sciences end markets. For 2026, Danaher expects operating leverage and productivity initiatives to drive more than 100 basis points of adjusted operating profit margin expansion, resulting in high single-digit adjusted earnings per share growth.

Valuation and Metrics

With a P/E Ratio of 45.24 and an EV/EBITDA of 25.51, Danaher's valuation multiples indicate a premium for its growth prospects. The company's ROE of 6.88% and ROIC of 6.13% suggest a relatively efficient use of capital. The market seems to have priced in a moderate growth rate, with analysts estimating next year's revenue growth at 4.2%. The actual EPS of $1.89, beating estimates, demonstrates the company's ability to execute on its growth plans.

3. NewsRoom

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6 Dividend Stocks Ready To Benefit From 2026's Rate-Shift Economy

Dec -04

Source: forbes.com

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Edgestream Partners L.P. Grows Position in Danaher Corporation $DHR

Dec -03

Source: defenseworld.net

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30% of the S&P 500 Is Mag 7 Tech Stocks, but This ETF Refuses to Own a Single One

Dec -02

Source: 247wallst.com

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Here Are Tuesday’s Top Wall Street Analyst Research Calls: Albemarle, Circle Internet, Cloudflare, Danaher, Inspire Medical, Six Flags, Workday and More

Dec -02

Source: 247wallst.com

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Boston Family Office LLC Has $7.95 Million Stock Position in Danaher Corporation $DHR

Dec -01

Source: defenseworld.net

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Channing Global Advisors LLC Sells 600 Shares of Danaher Corporation $DHR

Nov -30

Source: defenseworld.net

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HALPER SADEH LLC ENCOURAGES GLOBE LIFE INC. SHAREHOLDERS TO CONTACT THE FIRM TO DISCUSS THEIR RIGHTS

Nov -28

Source: prnewswire.com

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Choreo LLC Has $3.69 Million Stock Position in Danaher Corporation $DHR

Nov -28

Source: defenseworld.net

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (6.40%)

6. Segments

Diagnostics

Expected Growth: 7.0%

The diagnostics segment is expected to grow slightly above the global average due to the increasing demand for healthcare services, technological advancements in diagnostic equipment, and the rising prevalence of diseases. This makes it a relatively stable and growing segment.

Life Sciences Excl. Biotechnology

Expected Growth: 6.0%

Life Sciences Excl. Biotechnology is expected to grow at a rate slightly below the global average. This is due to its dependence on research funding and the cyclic nature of research investments. However, the long-term trend towards more research and development in life sciences supports a relatively stable growth.

Biotechnology

Expected Growth: 8.0%

The biotechnology segment is expected to grow significantly above the global average. This is driven by the rapid advancements in biotechnology, increasing investment in biotech research, and the potential for breakthroughs in therapeutic and diagnostic areas.

7. Detailed Products

Life Sciences

Provides bioprocessing, discovery, and analytical solutions to help develop and manufacture biologics, vaccines, and medicines.

Diagnostics

Offers diagnostic instruments, reagents, and software to help diagnose and monitor diseases, including COVID-19.

Dental

Provides dental consumables, equipment, and digital dentistry solutions to help dental professionals improve patient care.

Environmental & Applied Solutions

Offers instruments, software, and services to help monitor and improve environmental quality, as well as provide solutions for industrial and applied markets.

8. Danaher Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

Danaher Corporation operates in a industry with moderate threat of substitutes. The company's products and services are differentiated, but customers have some alternatives.

Bargaining Power Of Customers

Danaher Corporation's customers have low bargaining power due to the company's diversified product portfolio and strong brand recognition.

Bargaining Power Of Suppliers

Danaher Corporation's suppliers have moderate bargaining power due to the company's dependence on a few key suppliers for certain components.

Threat Of New Entrants

The threat of new entrants is low for Danaher Corporation due to the high barriers to entry in the industry, including significant capital requirements and regulatory hurdles.

Intensity Of Rivalry

The intensity of rivalry is high in Danaher Corporation's industry, with several established players competing for market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 26.75%
Debt Cost 3.95%
Equity Weight 73.25%
Equity Cost 8.22%
WACC 7.08%
Leverage 36.53%

11. Quality Control: Danaher Corporation passed 7 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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IDEXX Laboratories

A-Score: 4.6/10

Value: 0.0

Growth: 7.2

Quality: 7.6

Yield: 0.0

Momentum: 7.5

Volatility: 5.3

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Agilent Technologies

A-Score: 4.5/10

Value: 1.2

Growth: 5.8

Quality: 7.4

Yield: 1.0

Momentum: 4.0

Volatility: 7.3

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Mettler-Toledo

A-Score: 4.4/10

Value: 3.0

Growth: 6.3

Quality: 7.1

Yield: 0.0

Momentum: 3.5

Volatility: 6.7

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IQVIA

A-Score: 4.1/10

Value: 3.5

Growth: 6.9

Quality: 5.4

Yield: 0.0

Momentum: 3.0

Volatility: 6.0

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Thermo Fisher

A-Score: 4.0/10

Value: 1.6

Growth: 6.1

Quality: 6.1

Yield: 0.0

Momentum: 3.0

Volatility: 7.3

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Danaher

A-Score: 3.8/10

Value: 1.6

Growth: 4.0

Quality: 6.8

Yield: 1.0

Momentum: 1.5

Volatility: 7.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

226.25$

Current Price

226.25$

Potential

-0.00%

Expected Cash-Flows