Sign in

    Danaher Corp (DHR)

    You might also like

    Business Description

    Danaher Corporation is a global conglomerate that operates in the fields of biotechnology, life sciences, and diagnostics. The company provides a wide range of products and services, including equipment, consumables, and software, primarily sold on a recurring basis . Danaher emphasizes innovation and strategic acquisitions to enhance its portfolio and maintain competitive advantages in its served markets .

    1. Biotechnology - Focuses on bioprocessing and discovery, offering equipment, consumables, and services used in the development and manufacture of biological medicines, including therapies like insulin, vaccines, and novel cell and gene therapies .
    2. Life Sciences - Provides instruments, consumables, and software for genomics and disease research, as well as products for filtering contaminants from liquids and gases .
    3. Diagnostics - Offers clinical instruments and services used in disease diagnosis and treatment decisions .

    Key Metrics

    View all financials →
    Revenue by Segment - in Millions of USDFY 2013Q1 2014Q2 2014Q3 2014Q4 2014FY 2014Q1 2015Q2 2015Q3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Biotechnology1,7597,1721,5241,7131,6531,8696,7591,612
    Life Sciences1,937,1411,7451,7701,7822,0327,3291,680
    Diagnostics2,7169,5772,5272,2602,3632,6379,7872,449
    - Recurring Revenue--4,795----4,816
    - Nonrecurring Revenue--1,001----925
    Environmental & Applied Solutions--------
    Dental--------
    Test & Measurement--------
    Environmental--------
    Life Sciences & Diagnostics--------
    Industrial Technologies--------
    Total Revenue2,69323,8905,7965,7435,7986,53823,8755,741
    Revenue by Geography - in Millions of USDFY 2013Q1 2014Q2 2014Q3 2014Q4 2014FY 2014Q1 2015Q2 2015Q3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    North America1,0389,9612,6322,4342,4562,77310,2952,582
    Western Europe5855,4681,3241,3211,3201,4925,4571,344
    Other Developed Markets261,2703032922993591,253278
    High-Growth Markets817,1911,5371,6961,7231,9146,8701,537
    - United States-9,579----9,927-
    - China-3,143----2,805-
    - Germany--------
    - Japan--------
    - All Other Countries-11,168----11,143-
    Total Revenue2,69323,8905,7965,7435,7986,53823,8755,741
    KPIs - Metric (Unit, Scale)FY 2013Q1 2014Q2 2014Q3 2014Q4 2014FY 2014Q1 2015Q2 2015Q3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018 (6M)Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Core sales growth (decline) for entire company (percentage)--10.0-4.0-7.00.5---
    Core sales growth (decline) for Biotechnology segment (percentage)--18.0%-4.0%-7.0%0.5%---
    Core sales growth (decline) for Life Sciences segment (percentage)--------
    Core sales growth for Diagnostics segment (percentage)--7.5-----
    Price increases for the Biotechnology segment (percentage)-4.5%2.0%2.5%3.0%---
    Price increases for the Life Sciences segment (percentage)-4.0%1.5%1.0%1.0%---

    Leadership

    NamePositionExternal RolesShort Bio

    Brian W. Ellis

    Executive

    Senior Vice President - General Counsel

    None

    General Counsel since January 2016; no additional details on prior roles or external affiliations provided.

    Christopher P. Riley

    Executive

    Executive Vice President

    None

    Joined DHR in 2017; held leadership roles in Life Sciences and Diagnostics subsidiaries; became EVP in January 2024.

    Daniel A. Raskas

    Executive

    Senior Vice President - Corporate Development

    None

    Joined DHR in 2010; no additional details on prior roles or external affiliations provided.

    Georgeann F. Couchara

    Executive

    Senior Vice President - Human Resources

    None

    Joined DHR in 2019; focuses on talent development, DE+I, and organizational development; instrumental in Veralto spin-off.

    Jose-Carlos Gutierrez-Ramos

    Executive

    Senior Vice President and Chief Science Officer

    None

    Joined DHR in December 2020; previously held leadership roles at AbbVie and Repertoire Immune Medicines; advancing DHR's AI and data strategy.

    Matthew R. McGrew

    Executive

    Executive Vice President and CFO

    None

    CFO since January 2019; no additional details on prior roles or external affiliations provided.

    Rainer M. Blair

    Executive

    President and Chief Executive Officer

    None

    Joined DHR in 2010; became CEO in September 2020; instrumental in implementing the Danaher Business System and leading portfolio transformation.

    		View Report →

    William H. King

    Executive

    Senior Vice President - Strategic Development

    Board Member at Veralto Corporation

    Joined DHR in 2005; oversees strategic development; designated as a Class I Director for Veralto Corporation.

    Alan G. Spoon

    Board

    Director

    Board Member at Fortive, IAC/InterActiveCorp, and Match Group

    Director since 1999; expertise in business strategy, technology trends, and executive compensation; serves on multiple public company boards.

    Elias A. Zerhouni, M.D.

    Board

    Director

    President and Vice Chairman of OPKO Health

    Director since 2009; former NIH Director and Sanofi R&D President; expertise in medical technologies and global healthcare.

    Feroz Dewan

    Board

    Director

    CEO of Arena Holdings Management LLC

    Director since 2022; CEO of Arena Holdings; previously served on boards of Kraft Heinz and Fortive Corporation.

    Jessica L. Mega, M.D.

    Board

    Director

    None

    Director since 2019; co-founder and former Chief Medical and Scientific Officer at Verily Life Sciences; expertise in clinical trials and healthcare innovation.

    John T. Schwieters

    Board

    Director

    Board Member at Veralto Corporation

    Director since 2003; chaired DHR's Audit Committee; extensive experience in public accounting, tax, and finance.

    Linda Filler

    Board

    Director

    Board Member at The Carlyle Group

    Director since 2005; retired from executive roles at Walgreens and Claire's; extensive experience in retail and consumer goods.

    Raymond C. Stevens, Ph.D.

    Board

    Director

    CEO of Structure Therapeutics

    Director since 2017; world-renowned biomedical scientist; expertise in molecular research and drug development; CEO of Structure Therapeutics.

    Steven M. Rales

    Board

    Chairman of the Board

    None

    Co-founded DHR in 1983; Chairman since 1984; pivotal in creating the Danaher Business System and driving the company's growth.

    Teri List

    Board

    Director

    Board Member at Microsoft, Visa, and lululemon

    Director since 2011; former CFO at Gap Inc., Dick's Sporting Goods, and Kraft Foods; extensive experience in finance and accounting.

    Questions to Ask Management

    1. Given the persistent challenges in the China market, including volume-based procurement and increasing local competition in bioprocessing and diagnostics, how do you plan to achieve your growth targets and mitigate these headwinds in the coming year?

    2. With uncertainties around the China stimulus, ongoing constraints in capital equipment spending, and the gradual recovery in bioprocessing orders, is the expectation of 8% core growth in 2025 realistic, or should investors anticipate a more conservative outlook?

    3. Considering that smaller bioprocessing customers, representing 25% of revenues, are still facing funding challenges and slower recovery, how significant is this segment's impact on your overall bioprocessing business, and what strategies are you implementing to support growth here?

    4. In light of the low single-digit growth in genomics and continued softness in gene reading among smaller customers, what specific actions are you taking to drive growth and gain market share, especially with the introduction of products like Rapid Genes?

    5. Regarding the integration of Abcam, can you provide more detail on its current performance and whether it is meeting your expectations for growth acceleration and cost improvements, given previous concerns about underperformance?

    Share Repurchase Program

    Program DetailsProgram 1Program 2
    Approval DateJuly 16, 2013 July 22, 2024
    End Date/DurationCompleted by Sept 27, 2024 No expiration date
    Total additional amount20 million shares 20 million shares
    Remaining authorization0 shares 20 million shares
    DetailsUsed for equity compensation plans and other corporate purposes Used for equity compensation plans and other corporate purposes

    Debt Maturity Schedule

    YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt
    2024$1,038 Euro-denominated commercial paper3.7 5.9% = (1,038 / 17,524) * 100
    2024$700 2.2% senior unsecured notes2.2 4.0% = (700 / 17,524) * 100
    2025$500 3.35% senior unsecured notes3.35 2.9% = (500 / 17,524) * 100
    2026$1,393 0.2% senior unsecured notes0.2 7.9% = (1,393 / 17,524) * 100
    2026$892 2.1% senior unsecured notes2.1 5.1% = (892 / 17,524) * 100
    2027$216 0.3% senior unsecured notes0.3 1.2% = (216 / 17,524) * 100
    2027$668 1.2% senior unsecured notes1.2 3.8% = (668 / 17,524) * 100
    2028$1,390 0.45% senior unsecured notes0.45 7.9% = (1,390 / 17,524) * 100
    2028$252 1.125% senior unsecured bonds1.125 1.4% = (252 / 17,524) * 100
    2029$797 2.6% senior unsecured notes2.6 4.5% = (797 / 17,524) * 100
    2030$893 2.5% senior unsecured notes2.5 5.1% = (893 / 17,524) * 100
    2031$1,945 0.75% senior unsecured notes0.75 11.1% = (1,945 / 17,524) * 100
    2032$373 0.65% senior unsecured notes0.65 2.1% = (373 / 17,524) * 100
    2039$1,382 1.35% senior unsecured notes1.35 7.9% = (1,382 / 17,524) * 100
    2039$891 3.25% senior unsecured notes3.25 5.1% = (891 / 17,524) * 100
    2045$499 4.375% senior unsecured notes4.375 2.8% = (499 / 17,524) * 100
    2049$829 1.8% senior unsecured notes1.8 4.7% = (829 / 17,524) * 100
    2049$890 3.4% senior unsecured notes3.4 5.1% = (890 / 17,524) * 100
    2050$982 2.6% senior unsecured notes2.6 5.6% = (982 / 17,524) * 100
    2051$985 2.8% senior unsecured notes2.8 5.6% = (985 / 17,524) * 100

    Auditor

    NameStart DateEnd DateReason for Change
    Ernst & Young LLP2002 PresentCurrent auditor

    Recent Mergers & Acquisitions

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Multiple Life Sciences Businesses

    2024

    The company acquired multiple Life Sciences businesses, including two for a total of $525 million in cash (net of cash acquired) during the nine‐month period ended September 27, 2024, and one additional business for $12 million in cash (net of cash acquired) during the six‐month period ended June 28, 2024, to complement existing Life Sciences units.

    Abcam plc

    2023

    Danaher entered into a definitive agreement on August 28, 2023, to acquire Abcam plc for approximately $5.7 billion (including assumed indebtedness and net of acquired cash), integrating its protein consumables capabilities into the Life Sciences segment to advance drug discovery and diagnostics; the transaction is expected to close by mid‑2024.

    Multiple Companies Acquisition

    2022

    In 2022, Danaher completed several acquisitions across its segments, starting with a Q1 deal for $13 million in cash (annual sales of $7 million), followed by a first‑half acquisition totaling $77 million in cash and culminating with five acquisitions in the nine‑month period for $304 million in cash, all aimed at broadening capabilities in Life Sciences and Environmental & Applied Solutions.

    Latest news

    Recent press releases and 8-K filings for DHR.

    Danaher Corp Holds Annual Shareholder Meeting and Votes on Key Proposals
    •DHR
    Proxy Vote Outcomes
    Board Change
    Executive Compensation
    • Annual meeting held on May 6, 2025, where shareholders exercised their voting rights on several proposals.
    • Thirteen directors were elected with detailed vote counts, reflecting significant board-related decisions.
    • Shareholders approved the ratification of Ernst & Young LLP as the independent auditor and advised on executive officer compensation with clear vote outcomes.
    3 days ago
    8-K
    Danaher Corp Q1 2025 Earnings & Operational Highlights
    •DHR
    Earnings
    Guidance Update
    M&A
    • Danaher Corp delivered revenues of $5.7B in Q1 2025 (a 1.0% decline) and net earnings of $1.0B, driven by strong bioprocessing and respiratory demand .
    • Reported non‐GAAP adjusted EPS of $1.88 and diluted EPS of $1.32 for the quarter .
    • Generated operating cash flow of $1.3B and non‐GAAP free cash flow of $1.1B, highlighting robust liquidity performance .
    • Biotechnology revenue increased by 6.0% to $1,612M, while Life Sciences and Diagnostics declined by 3.5% and 3.0%, respectively .
    • Guidance: Full-year non‐GAAP EPS of $7.60–$7.75; Q2 2025 outlook projects low-single digit non‐GAAP core revenue growth with approx. 3% annual revenue growth .
    • Improved gross profit margin to 61.2%, alongside ongoing investments in long-term growth initiatives and potential M&A opportunities .
    Apr 22, 2025, 12:01 PM
    TranscriptPresentationPress Release8-K