Financials Danaher Corporation

Equities

DHR

US2358511028

Advanced Medical Equipment & Technology

Market Closed - Nyse Other stock markets 04:00:03 2025-06-20 pm EDT			5-day change	1st Jan Change
196.39 ^USD	+1.00%		-2.13%	-14.45%

Jun. 09	Some of the biggest splits in Corporate America	RE
Jun. 09	Some of the biggest splits in Corporate America	RE

Projected Income Statement: Danaher Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	22,284	29,453	31,471	23,890	23,875	24,480	26,082	28,038
Change	-	32.17%	6.85%	-24.09%	-0.06%	2.53%	6.54%	7.5%
EBITDA ¹	6,006	9,633	10,910	7,530	7,215	7,643	8,355	9,147
Change	-	60.39%	13.26%	-30.98%	-4.18%	5.93%	9.32%	9.48%
EBIT ¹	4,231	7,465	8,688	6,855	6,897	6,926	7,612	8,352
Change	-	76.44%	16.38%	-21.1%	0.62%	0.42%	9.9%	9.71%
Interest Paid ¹	-275	-238	-211	-286	-278	-264	-225.4	-195.5
Earnings before Tax (EBT) ¹	4,495	7,598	8,292	5,044	4,646	4,949	5,944	6,719
Change	-	69.03%	9.13%	-39.17%	-7.89%	6.53%	20.1%	13.04%
Net income ¹	3,510	6,269	7,103	4,743	3,899	4,111	5,073	5,482
Change	-	78.6%	13.3%	-33.23%	-17.79%	5.44%	23.4%	8.06%
Announcement Date	1/28/21	1/27/22	1/24/23	1/30/24	1/29/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1
Net sales ¹	5,297	5,883	6,760	6,858	7,218	7,229	8,148	7,688	7,751	7,663	8,369	7,167	7,157	6,873	6,405	5,796	5,743	5,798	6,538	5,741	5,829	5,990	6,901	6,105	6,226	6,343	7,345	6,470
Change	-	11.06%	14.9%	1.45%	5.25%	0.15%	12.71%	-5.65%	0.82%	-1.14%	9.21%	-14.36%	-0.14%	-3.97%	-6.81%	-9.51%	-0.91%	0.96%	12.76%	-12.19%	1.53%	2.76%	15.22%	-11.54%	1.98%	1.88%	15.79%	-11.91%
EBITDA ¹	1,322	1,579	2,110	2,528	2,530	1,863	2,741	2,737	2,757	2,555	2,861	2,351	1,991	2,034	2,015	1,923	1,748	1,549	2,020	2,371	1,671	1,815	2,310	2,007	1,874	1,992	2,473	2,158
Change	-	19.47%	33.62%	19.81%	0.08%	-26.36%	47.13%	-0.15%	0.73%	-7.33%	11.98%	-17.83%	-15.31%	2.16%	-0.93%	-4.57%	-9.1%	-11.38%	30.41%	17.38%	-29.52%	8.62%	27.25%	-13.13%	-6.6%	6.31%	24.1%	-12.71%
EBIT ¹	844.6	1,088	1,601	1,997	2,005	1,309	2,154	2,172	2,205	2,015	2,296	2,206	1,898	1,859	1,837	1,781	1,629	1,491	1,999	1,780	1,482	1,619	2,116	1,807	1,673	1,785	2,273	1,953
Change	-	28.77%	47.2%	24.73%	0.4%	-34.71%	64.55%	0.84%	1.52%	-8.62%	13.95%	-3.92%	-13.96%	-2.05%	-1.18%	-3.05%	-8.53%	-8.47%	34.07%	-10.95%	-16.76%	9.27%	30.67%	-14.61%	-7.37%	6.67%	27.35%	-14.07%
Charge d'intérêts ¹	-78.6	-76.7	-72	-58	-62	-62	-56	-54	-51	-42	-64	-68	-67	-73	-85	-65	-65	-87	-61	-72	-65	-63.2	-63.6	-63	-61	-58.67	-56.33	-68
Earnings before Tax (EBT) ¹	1,221	1,022	1,542	2,083	2,043	1,387	2,085	2,099	2,069	1,931	2,193	1,798	1,392	1,397	1,232	1,271	1,083	977	1,315	1,129	1,005	1,145	1,667	1,374	1,188	1,328	1,893	1,502
Change	-	-16.33%	50.95%	35.08%	-1.92%	-32.11%	50.32%	0.67%	-1.43%	-6.67%	13.57%	-18.01%	-22.58%	0.36%	-11.81%	3.17%	-14.79%	-9.79%	34.6%	-14.14%	-10.99%	13.98%	45.54%	-17.58%	-13.5%	11.74%	42.55%	-20.66%
Net income ¹	927.3	842.4	1,200	1,661	1,744	1,117	1,747	1,684	1,658	1,551	2,210	1,429	1,106	1,129	1,079	1,088	907	818	1,086	954	833.6	958.7	1,362	1,138	979	1,095	1,528	1,246
Change	-	-9.16%	42.45%	38.42%	5%	-35.95%	56.4%	-3.61%	-1.54%	-6.45%	42.49%	-35.34%	-22.6%	2.08%	-4.43%	0.83%	-16.64%	-9.81%	32.76%	-12.15%	-12.62%	15%	42.07%	-16.42%	-14%	11.88%	39.53%	-18.47%
Announcement Date	7/23/20	10/22/20	1/28/21	4/22/21	7/22/21	10/21/21	1/27/22	4/21/22	7/21/22	10/20/22	1/24/23	4/25/23	7/25/23	10/24/23	1/30/24	4/23/24	7/23/24	10/22/24	1/29/25	4/22/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Danaher Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	15,169	19,590	13,682	12,538	13,927	10,624	5,799	427
Change	-	29.14%	-30.16%	-8.36%	11.08%	-23.72%	-45.42%	-92.64%
Announcement Date	1/28/21	1/27/22	1/24/23	1/30/24	1/29/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Danaher Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	791	1,294	1,152	1,383	1,392	1,271	1,367	1,438
Change	-	63.59%	-10.97%	20.05%	0.65%	-8.69%	7.52%	5.21%
Free Cash Flow (FCF) ¹	5,424	7,064	7,376	5,781	5,296	5,215	6,062	6,695
Change	-	30.24%	4.42%	-21.62%	-8.39%	-1.52%	16.23%	10.45%
Announcement Date	1/28/21	1/27/22	1/24/23	1/30/24	1/29/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Danaher Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	26.95%	32.71%	34.67%	31.52%	30.22%	31.22%	32.04%	32.62%
EBIT Margin (%)	18.99%	25.35%	27.61%	28.69%	28.89%	28.29%	29.19%	29.79%
EBT Margin (%)	20.17%	25.8%	26.35%	21.11%	19.46%	20.22%	22.79%	23.96%
Net margin (%)	15.75%	21.28%	22.57%	19.85%	16.33%	16.79%	19.45%	19.55%
FCF margin (%)	24.34%	23.98%	23.44%	24.2%	22.18%	21.3%	23.24%	23.88%
FCF / Net Income (%)	154.53%	112.68%	103.84%	121.88%	135.83%	126.85%	119.49%	122.13%
Profitability
ROA	5.08%	9.29%	8.48%	5.62%	4.81%	5.99%	6.59%	7.14%
ROE	10.02%	17.44%	14.91%	9.16%	7.57%	10.88%	11.22%	11.18%
Financial Health
Leverage (Debt/EBITDA)	2.53x	2.03x	1.25x	1.67x	1.93x	1.39x	0.69x	0.05x
Debt / Free cash flow	2.8x	2.77x	1.85x	2.17x	2.63x	2.04x	0.96x	0.06x
Capital Intensity
CAPEX / Current Assets (%)	3.55%	4.39%	3.66%	5.79%	5.83%	5.19%	5.24%	5.13%
CAPEX / EBITDA (%)	13.17%	13.43%	10.56%	18.37%	19.29%	16.63%	16.36%	15.72%
CAPEX / FCF (%)	14.58%	18.32%	15.62%	23.92%	26.28%	24.37%	22.55%	21.48%
Items per share
Cash flow per share ¹	8.638	11.34	11.56	9.641	9.072	9.244	10.36	11.02
Change	-	31.33%	1.89%	-16.58%	-5.9%	1.89%	12.13%	6.32%
Dividend per Share ¹	0.72	0.84	1	1.05	1.08	1.204	1.315	1.394
Change	-	16.67%	19.05%	5%	2.86%	11.5%	9.24%	5.98%
Book Value Per Share ¹	55.93	63.17	68.78	72.36	68.9	74.65	80.17	88.27
Change	-	12.95%	8.87%	5.21%	-4.78%	8.35%	7.4%	10.11%
EPS ¹	4.89	8.61	9.66	6.38	5.29	5.789	7.08	7.825
Change	-	76.07%	12.2%	-33.95%	-17.08%	9.43%	22.3%	10.52%
Nbr of stocks (in thousands)	710,377	714,577	727,963	738,927	722,275	715,670	715,670	715,670
Announcement Date	1/28/21	1/27/22	1/24/23	1/30/24	1/29/25	-	-	-