Danaher
Supplies bioprocessing, life-science, and diagnostic tools with recurring consumables and service.
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Profile
Sells bioprocessing tools, life-science instruments and consumables, and diagnostic systems to drugmakers, researchers, laboratories, and hospitals. Recurring demand for filters, chromatography resins, reagents, sensors, software, and service follows its installed equipment base, while acquisitions are integrated through the Danaher Business System.
Supplies bioprocessing equipment and consumables, life-science instruments and reagents, and clinical diagnostic systems through Biotechnology, Life Sciences, and Diagnostics. Cytiva and Pall serve biologic-drug development and manufacturing; SCIEX, Leica Microsystems, IDT, Abcam, and Aldevron support research and genomic medicine; Beckman Coulter, Cepheid, Radiometer, Leica Biosystems, and Masimo cover laboratory testing, molecular diagnostics, pathology, pulse oximetry, and patient monitoring.
Applies the Danaher Business System across a decentralized portfolio, using continuous-improvement tools and acquisitions to extend operating-company capabilities. Installed equipment drives recurring sales of filters, chromatography resins, reagents, sensors, software, and services. Most sales come from outside the United States.
Demand depends on biopharma production and capital spending, research funding, hospital testing volumes, and respiratory seasons. Medical-device clearances, reimbursement and procurement policies, and qualified-component supply affect pricing and product launches.
Company facts
Categories
Key statistics
Year to date −6.2% · Average volume (30d) 5.4M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 22, 2026 | Deutsche Bank | Reiterate | Buy | $270 | $240 | |
| Jul 22, 2026 | RBC Capital | Reiterate | Outperform | $200 | $215 | |
| Jul 22, 2026 | Stifel Nicolaus | Target | $260 | $220 | ||
| Jul 22, 2026 | Guggenheim | Reiterate | Buy | $275 | $200 | |
| Jul 22, 2026 | Wells Fargo | Reiterate | Equal Weight | $240 | $195 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 21, 2026Q2 FY26 | $1.85 | $1.94 | +4.9% | $6.12B | $6.27B | +2.4% | +0.07% |
| Apr 21, 2026Q1 FY26 | $1.94 | $2.06 | +6.2% | $5.98B | $5.95B | −0.5% | −5.40% |
| Jan 28, 2026Q4 FY25 | $2.16 | $2.23 | +3.2% | $6.81B | $6.84B | +0.4% | −2.19% |
| Oct 21, 2025Q3 FY25 | $1.72 | $1.89 | +9.9% | $6.00B | $6.05B | +0.9% | −1.21% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $5.74B | $5.94B | $6.05B | $6.84B | $5.95B | $6.27B | |
| Gross profit | $3.51B | $3.96B | $3.52B | $3.97B | $3.59B | $3.61B | |
| Operating income | $1.27B | $1.19B | $1.15B | $1.50B | $1.34B | $1.13B | |
| Net income | $954.0M | $555.0M | $908.0M | $1.20B | $1.03B | $870.0M | |
| Diluted EPS | $1.32 | $0.77 | $1.27 | $1.68 | $1.45 | $1.23 | |
| Gross margin | 61.2% | 66.6% | 58.2% | 58.0% | 60.3% | 57.6% | |
| Operating margin | 22.2% | 20.1% | 19.1% | 22.0% | 22.6% | 18.0% |
Fiscal years (4-quarter sums)FY21 $29.45B · FY22 $30.24B · FY23 $25.14B · FY24 $23.88B · FY25 $24.57B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 26, 2026Cash & short-term investments $4.35B · Total debt $26.56B · Total assets $92.37B · Shareholders' equity $52.58B
Dividends
Raised for 32 straight years — most recently to $0.40 from $0.32 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 26, 2026 | Jun 26 | Jul 31 | $0.40 | |
| Mar 27, 2026 | Mar 27 | Apr 24 | $0.40 | raised from $0.32 |
| Dec 26, 2025 | Dec 26 | Jan 30 | $0.32 | |
| Sep 26, 2025 | Sep 26 | Oct 31 | $0.32 | |
| Jun 27, 2025 | Jun 27 | Jul 25 | $0.32 | |
| Mar 28, 2025 | Mar 28 | Apr 25 | $0.32 | raised from $0.27 |
| Dec 27, 2024 | Dec 27 | Jan 31 | $0.27 | |
| Sep 27, 2024 | Sep 27 | Oct 25 | $0.27 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 702.99M · Float 625.84M · 89.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 55.08M | 7.84% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 41.38M | 5.89% | 13F | Aug 13, 2026 |
| FMR LLC | 29.54M | 4.20% | 13F | Aug 13, 2026 |
| State Street Corp | 28.46M | 4.05% | 13F | Aug 7, 2026 |
| Wellington Management Group LLP | 16.32M | 2.32% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 21, 2026 | Rainer Blair | director, officer: President & CEO | −58,255 | $218.63 |
| May 1, 2026 | Alan G. Spoon | director | −1,358 | $174.67 |
| Feb 19, 2026 | Gregory M. Milosevich | officer: Executive Vice President | −1,320 | $208.01 |
| Nov 25, 2025 | Mitchell P. Rales | director, officer: Chairman of Exec. Committee | −40,625 | $230.38 |
| Nov 18, 2025 | Teri List | director | −3,298 | $226.50 |
Peers
- Thermo Fisher Scientific
Full-stack rival across bioprocessing, life-science tools, and diagnostics.
- Agilent Technologies
Head-to-head in analytical instruments, mass spec, genomics, and diagnostics.
- Waters
Dominant HPLC/UPLC and mass spec rival; contests every pharma analytical lab.
- Bio-Rad Laboratories
Overlaps in clinical diagnostics QC, digital PCR, and biopharma process tools.
- Bruker
NMR, mass spec, and microscopy rival; expanding into molecular diagnostics.
- Revvity
Overlaps in genomic screening, immunodiagnostics, and drug-discovery reagents.
- QIAGEN
Molecular dx and sample-prep rival to Cepheid; competes for PCR workflow spend.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Danaher | $215.50 | −0.25% | $151.89B | 38.4 | 24.3 | 6.0 | +5.5% |
| Thermo Fisher Scientific | $620.01 | −0.32% | $231.22B | 33.5 | 23.7 | 5.0 | +10.5% |
| Agilent Technologies | $153.84 | +0.02% | $43.45B | 30.3 | 23.8 | 5.9 | +8.1% |
| Waters | $414.33 | −0.03% | $31.02B | 103.4 | 26.5 | 6.7 | +113.3% |
| Bio-Rad Laboratories | $387.70 | +0.02% | $10.44B | 47.0 | 37.6 | 4.0 | −0.1% |
| Bruker | $57.08 | +0.04% | $8.69B | — | 25.2 | 2.5 | +5.2% |
| Revvity | $127.20 | −1.25% | $14.37B | 61.3 | 22.9 | 4.9 | −1.3% |
| QIAGEN | $43.00 | −0.28% | $8.89B | 22.1 | 17.3 | 4.2 | +0.3% |
| Median | 40.2 | 23.8 | 4.9 | +5.2% |