Company Valuation: Danaher Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 157,803 235,103 193,216 170,943 165,798 146,784 - -
Change - 48.98% -17.82% -11.53% -3.01% -11.47% - -
Enterprise Value (EV) 1 172,972 254,693 206,898 183,481 179,725 157,407 152,583 147,210
Change - 47.24% -18.77% -11.32% -2.05% -12.42% -3.06% -3.52%
P/E ratio 45.4x 38.2x 27.5x 36.3x 43.4x 35.4x 29x 26.2x
PBR 3.97x 5.21x 3.86x 3.2x 3.33x 2.75x 2.56x 2.32x
PEG - 0.5x 2.3x -1.1x -2.5x 3.75x 1.3x 2.5x
Capitalization / Revenue 7.08x 7.98x 6.14x 7.16x 6.94x 6x 5.63x 5.24x
EV / Revenue 7.76x 8.65x 6.57x 7.68x 7.53x 6.43x 5.85x 5.25x
EV / EBITDA 28.8x 26.4x 19x 24.4x 24.9x 20.6x 18.3x 16.1x
EV / EBIT 40.9x 34.1x 23.8x 26.8x 26.1x 22.7x 20x 17.6x
EV / FCF 31.9x 36.1x 28.1x 31.7x 33.9x 30.2x 25.9x 23x
FCF Yield 3.14% 2.77% 3.57% 3.15% 2.95% 3.31% 3.86% 4.34%
Dividend per Share 2 0.72 0.84 1 1.05 1.08 1.204 1.315 1.394
Rate of return 0.32% 0.26% 0.38% 0.45% 0.47% 0.59% 0.64% 0.68%
EPS 2 4.89 8.61 9.66 6.38 5.29 5.789 7.08 7.825
Distribution rate 14.7% 9.76% 10.4% 16.5% 20.4% 20.8% 18.6% 17.8%
Net sales 1 22,284 29,453 31,471 23,890 23,875 24,480 26,082 28,038
EBITDA 1 6,006 9,633 10,910 7,530 7,215 7,643 8,355 9,147
EBIT 1 4,231 7,465 8,688 6,855 6,897 6,926 7,612 8,352
Net income 1 3,510 6,269 7,103 4,743 3,899 4,111 5,073 5,482
Net Debt 1 15,169 19,590 13,682 12,538 13,927 10,624 5,799 426.5
Reference price 2 222.14 329.01 265.42 231.34 229.55 205.10 205.10 205.10
Nbr of stocks (in thousands) 710,377 714,577 727,963 738,927 722,275 715,670 - -
Announcement Date 1/28/21 1/27/22 1/24/23 1/30/24 1/29/25 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
35.43x6.43x20.6x0.59% 147B
73.04x18.39x45.64x-.--% 184B
23.44x4.12x16.6x0.4% 157B
51.65x7.87x26.42x-.--% 146B
22.42x2.67x13.07x2.3% 59.91B
31.36x6.99x23.51x-.--% 44.52B
22.81x6.64x17.75x2.86% 39.89B
27.15x7.13x19.6x0.86% 36.91B
26.03x5.23x17.69x0.83% 33.78B
17.72x1.9x11.3x0.18% 33.48B
Average 33.11x 6.74x 21.22x 0.8% 88.17B
Weighted average by Cap. 40.78x 8.35x 25.07x 0.53%
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Year-on-year evolution of the PER

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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