Aureus
AExcellent

Danaher Corporation(DHR)

A

Financial data as of Dec 31, 2025Improving · Healthcare

FCF Margin21.4%Free Cash Flow / Revenue
Cash Conversion177.5%Operating CF / Net Income
Free Cash Flow$5.3B
Revenue$24.6B
Net Cash-$15.1BNet debt position
Debt / FCF3.7xElevated debt burden
Current Ratio1.87Adequate short-term liquidity
YoY FCF Growth+16.2%5 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseA
→
+0.5Healthy FCF margin with manageable debt (21.4%, 3.7x)
→
+1Strong YoY FCF growth (16.2% YoY)
→
+0.5Highly consistent quarterly FCF
→
FinalA

Analysis Summary

Strengths

  • Exceptional FCF margin (21.4%)
  • Excellent cash conversion (178%)
  • Highly consistent quarterly FCF
  • FCF trend is improving

Concerns

  • Net debt position ($15.1B) — 3.7x FCF, manageable

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin21.4%
Net Margin14.7%
Operating CF Margin26.1%
CapEx Ratio4.7%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$15.1BNet debt position
Debt / FCF3.7xElevated debt burden
Current Ratio1.87Strong liquidity
Debt / Equity0.37Low leverage

Quarterly FCF Trend

+16.2% YoYImproving (+16.2%)

Free cash flow per quarter

Sector Comparison — Healthcare

FCF Margin ranked against sector peers

View all →

Detailed Metrics

Company NameDanaher Corporation
SectorHealthcare
Free Cash Flow$5.3B
Revenue$24.6B
Net Income$3.6B
Operating Cash Flow$6.4B
Capital Expenditure$1.2B
FCF Margin21.4%
Cash Conversion Rate177.5%
Net Margin14.7%
Total Debt$19.7B
Total Cash$4.6B
Net Cash-$15.1B
Current Ratio1.87
Debt / Equity0.37
Debt / FCF3.7x
YoY FCF Growth+16.2%
Positive Quarters5 of 5
Trend DirectionImproving
Report DateDec 31, 2025
GradeA
Data SourceYahoo Finance