$70.4 B

DHR Mkt cap, 14-Dec-2018

$4.9 B

Danaher Revenue Q3, 2018
Danaher Gross profit (Q3, 2018)2.7 B
Danaher Gross profit margin (Q3, 2018), %55.4%
Danaher Net income (Q3, 2018)663.7 M
Danaher EBIT (Q3, 2018)830.7 M
Danaher Cash, 28-Sep-2018776.2 M
Danaher EV80.2 B

Danaher Revenue Breakdown

Embed Graph

Danaher revenue breakdown by business segment: 21.7% from Environmental & Applied Solutions, 15.3% from Dental, 31.9% from Diagnostics and 31.2% from Life Sciences

Danaher revenue breakdown by geographic segment: 40.6% from All Other, 11.0% from China, 37.3% from United States, 6.3% from Germany and 4.8% from Other

Danaher Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

19.1b12.9b14.4b16.9b18.3b

Revenue growth, %

4%12%17%9%

Cost of goods sold

6.0b6.7b7.5b8.1b

Gross profit

6.8b7.8b9.3b10.2b

Gross profit Margin, %

53%54%55%56%

R&D expense

769.4m861.4m975.1m1.1b

General and administrative expense

4.0b4.7b5.6b6.0b

Operating expense total

4.8b5.6b6.6b7.2b

EBIT

2.0b2.2b2.8b3.0b

EBIT margin, %

16%15%16%16%

Interest expense

94.7m139.8m184.4m162.7m

Interest income

13.3m4.6m200.0k7.5m

Pre tax profit

2.1b2.0b2.6b2.9b

Income tax expense

(871.0m)447.5m292.7m457.9m(469.0m)

Net Income

2.7b2.6b3.4b2.6b2.5b

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Revenue

4.7b5.0b3.5b3.9b4.2b4.1b4.2b4.5b4.5b4.7b5.0b4.9b

Cost of goods sold

2.2b2.3b1.6b1.8b1.9b1.8b1.9b2.0b2.0b2.1b2.2b2.2b

Gross profit

2.5b2.6b1.9b2.2b2.4b2.3b2.3b2.5b2.5b2.6b2.8b2.7b

Gross profit Margin, %

53%53%54%55%56%55%56%55%56%56%57%55%

R&D expense

299.4m304.6m212.2m226.1m239.9m241.1m267.4m283.3m279.2m298.7m311.7m301.2m

General and administrative expense

1.4b1.4b1.2b1.3b1.4b1.3b1.4b1.5b1.5b1.6b1.6b1.6b

Operating expense total

1.7b1.7b1.4b1.6b1.7b1.6b1.7b1.8b1.8b1.9b1.9b1.9b

EBIT

755.1m934.4m480.0m613.1m710.1m699.1m623.9m683.7m767.5m743.0m867.5m830.7m

EBIT margin, %

16%19%14%16%17%17%15%15%17%16%17%17%

Interest expense

29.3m29.0m39.1m52.9m55.5m43.7m40.3m40.7m39.9m3.9m43.2m41.3m

Interest income

2.3m2.3m600.0k100.0k1.6m1.8m2.2m1.4m2.5m2.8m

Pre tax profit

728.1m907.7m453.9m783.6m654.6m476.7m585.2m644.8m729.8m713.1m835.1m801.3m

Income tax expense

170.1m192.2m74.0m197.8m236.6m74.1m101.4m87.5m157.7m146.5m161.3m137.6m

Net Income

569.8m695.7m1.4b758.4m656.7m391.6m506.1m557.3m572.1m566.6m673.8m663.7m

Danaher Balance Sheet

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017

Cash

3.0b790.8m963.7m630.3m

Accounts Receivable

3.4b3.0b3.2b3.5b

Prepaid Expenses

952.7m889.5m805.9m857.1m

Inventories

1.8b1.6b1.7b1.8b

Current Assets

9.4b7.8b6.7b6.9b

PP&E

2.2b2.3b2.4b2.5b

Goodwill

15.7b21.0b23.8b25.1b

Total Assets

37.0b48.2b45.3b46.6b

Accounts Payable

1.9b1.4b1.5b1.5b

Short-term debt

71.9m845.2m2.6b194.7m

Current Liabilities

5.4b6.2b6.9b4.8b

Long-term debt

3.4b12.0b9.7b10.3b

Total Debt

3.5b12.9b12.3b10.5b

Common Stock

7.9m8.0m8.1m8.1m

Additional Paid-in Capital

4.5b5.0b5.3b5.5b

Retained Earnings

20.3b21.0b20.7b22.8b

Total Equity

23.4b23.8b23.1b26.4b

Debt to Equity Ratio

0.1 x0.5 x0.5 x0.4 x

Debt to Assets Ratio

0.1 x0.3 x0.3 x0.2 x

Financial Leverage

1.6 x2 x2 x1.8 x

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Cash

2.5b3.3b1.8b664.3m4.1b971.4m803.9m726.4m648.6m1.0b904.0m776.2m

Accounts Receivable

3.4b3.6b3.9b3.9b4.0b3.1b3.0b3.2b3.3b3.3b3.3b3.3b

Prepaid Expenses

919.3m835.1m851.6m974.0m898.4m727.8m715.2m523.7m464.7m809.6m732.0m701.8m

Inventories

1.9b1.9b1.9b2.3b2.2b2.2b1.7b1.8b1.8b1.9b1.9b2.0b2.0b

Current Assets

8.8b9.7b8.9b7.7b11.2b6.5b6.3b6.3b6.3b7.1b6.9b6.8b

PP&E

2.1b2.2b2.8b2.9b2.8b2.3b2.4b2.4b2.4b2.5b2.5b2.5b

Goodwill

16.7b16.9b25.1b25.5b25.4b21.6b24.0b24.5b24.8b25.4b25.9b26.0b

Total Assets

36.1b37.0b49.7b48.4b51.5b41.3b45.2b45.6b45.9b47.1b48.1b47.7b

Accounts Payable

1.7b1.7b1.7b1.8b1.9b2.0b1.4b1.4b1.4b1.5b1.6b1.6b1.6b

Short-term debt

123.7m110.1m3.5b197.0m2.6b809.1m2.2b169.5m182.2m98.7m175.1m59.8m

Current Liabilities

5.0b5.1b8.6b5.3b8.0b4.8b6.0b4.2b4.4b4.4b4.6b4.5b

Long-term debt

3.0b3.1b3.1b11.5b12.2b12.0b7.5b9.7b11.4b10.7b10.4b11.1b10.6b

Total Debt

3.0b3.2b3.2b15.0b12.4b14.7b8.3b12.0b11.6b10.9b10.5b11.3b10.6b

Common Stock

8.0m8.0m8.0m8.0m8.1m8.1m8.1m8.1m8.1m8.1m8.2m8.2m

Additional Paid-in Capital

4.6b4.7b4.9b5.1b5.2b5.3b5.4b5.4b5.5b5.6b5.7b5.8b

Retained Earnings

20.8b21.4b20.4b21.7b22.2b20.0b21.1b21.6b22.0b23.4b24.0b24.5b

Total Equity

23.4b24.2b23.2b24.6b25.1b23.3b23.8b24.6b25.4b27.2b27.2b27.7b

Debt to Equity Ratio

0.1 x0.1 x0.6 x0.5 x0.6 x0.4 x0.5 x0.5 x0.4 x0.4 x0.4 x0.4 x

Debt to Assets Ratio

0.1 x0.1 x0.3 x0.3 x0.3 x0.2 x0.3 x0.3 x0.2 x0.2 x0.2 x0.2 x

Financial Leverage

1.5 x1.5 x2.1 x2 x2.1 x1.8 x1.9 x1.9 x1.8 x1.7 x1.8 x1.7 x

Danaher Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

2.7b2.6b3.4b2.6b2.5b

Depreciation and Amortization

718.1m880.8m1.1b1.2b

Accounts Receivable

(42.7m)800.0k(183.1m)(161.4m)

Inventories

68.8m146.5m9.4m(27.4m)

Accounts Payable

79.7m50.3m78.1m(54.4m)

Cash From Operating Activities

3.8b3.8b3.5b3.5b

Purchases of PP&E

(465.4m)(512.9m)(589.6m)(619.6m)

Cash From Investing Activities

(3.4b)(15.0b)(5.2b)(843.4m)

Short-term Borrowings

(3.8b)

Long-term Borrowings

(414.7m)(668.4m)

Dividends Paid

(227.7m)(354.1m)(399.8m)(378.3m)

Cash From Financing Activities

(218.2m)9.1b2.0b(3.1b)

Net Change in Cash

(109.6m)(2.2b)172.9m(333.4m)

Quarterly

USDQ1, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Net Income

569.8m1.3b2.7b758.4m1.4b1.8b506.1m1.1b1.6b566.6m1.2b1.9b

Depreciation and Amortization

415.0m235.5m472.5m608.0m267.7m545.3m822.5m305.6m608.8m427.3m320.8m655.4m976.9m

Accounts Receivable

104.2m1.3m85.1m83.5m(61.5m)(94.8m)168.3m72.1m74.6m219.0m159.6m128.6m

Inventories

(67.0m)(77.0m)(111.1m)(102.6m)(40.8m)(85.6m)(104.9m)(138.5m)(56.9m)(45.4m)(98.2m)(128.9m)(197.1m)(255.4m)

Accounts Payable

(84.8m)(74.8m)(142.2m)(116.0m)(42.7m)(38.1m)(90.9m)(104.1m)(48.5m)51.4m87.0m71.5m

Cash From Operating Activities

2.5b523.6m1.6b2.6b772.8m2.1b2.9b560.2m1.6b2.6b828.9m1.9b2.8b

Purchases of PP&E

(117.0m)(253.2m)(351.6m)(122.6m)(273.5m)(422.1m)(158.6m)(306.5m)(445.8m)(137.9m)(291.7m)(441.3m)

Cash From Investing Activities

(690.7m)(937.6m)(14.7b)8.3m(165.9m)(319.5m)(163.7m)(372.9m)(527.9m)(122.7m)(2.4b)(2.7b)

Short-term Borrowings

(247.5m)(259.9m)(1.1b)(1.2b)(2.3b)(434.9m)(2.4b)(3.9b)(236.6m)1.0b882.1m

Long-term Borrowings

(1.2m)(1.8m)(3.9m)503.9m

Dividends Paid

(70.4m)(165.9m)(261.6m)(92.7m)(202.8m)(313.3m)(86.6m)(183.9m)(281.0m)(97.5m)(209.3m)(321.2m)

Cash From Financing Activities

(260.8m)(299.4m)11.0b(890.6m)1.5b(2.3b)(590.7m)(1.5b)(2.5b)(321.7m)850.4m(16.6m)

Net Change in Cash

(494.6m)336.4m(1.2b)(126.5m)3.3b180.6m(159.8m)(237.3m)(315.1m)415.4m273.7m145.9m

Interest Paid

37.3m57.7m97.8m76.0m102.0m199.4m48.2m58.4m117.4m47.7m65.4m129.0m

Income Taxes Paid

101.0m225.1m325.4m86.9m233.1m330.8m142.3m266.3m378.3m133.5m310.4m502.0m

Danaher Ratios

USDY, 2018

EV/EBIT

96.6 x

EV/CFO

28.8 x

Debt/Equity

0.4 x

Debt/Assets

0.2 x

Financial Leverage

1.7 x
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Danaher Operating Metrics

Danaher's Backlog was reported to be $2.7b in FY, 2017.
FY, 2014FY, 2015FY, 2016FY, 2017

Backlog

$2.36 b$1.76 b$2.67 b$2.70 b

Facilities

273 336 242 248

Countries

50 50 60 60
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Danaher Employee Rating

3.4321 votes
Culture & Values
3.0
Work/Life Balance
2.5
Senior Management
2.9
Salary & Benefits
3.2
Career Opportunities
3.4
Source