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Danaher Corp DHR

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Stock XNYS Rating as of
$273.91 +3.82 (1.41%)
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Company Report

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Danaher Earnings: Showing Signs of Life in Bioprocessing, but No Change to Our Fair Value Estimate

Julie Utterback

Narrow-moat Danaher turned in better-than-anticipated operating results, including signs of a turnaround in its bioprocessing business. Free cash flow is also roughly tracking toward our expectations and we are keeping our $255 fair value estimate intact. Shares have recently been trading near fair value, in our opinion, so while notable given its typical focus on acquisitions, its share repurchases of $5 billion in the quarter look merely value-neutral to us.

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Price vs Fair Value

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DHR is trading at a 779% premium.
Price
$273.91
Fair Value
$811.00
Uncertainty
Medium
1-Star Price
$952.64
5-Star Price
$316.90
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

The Danaher Business System focuses on continuous improvement, including the acceleration of core growth and margin expansion through marketing initiatives and innovation, which appears positive for Danaher's long-term prospects.

Bears

Danaher continues to hunt for acquisitions in the life sciences and diagnostics markets, which could constrain ROICs including goodwill if it makes acquisitions at unattractive prices and is not able to integrate them as successfully as in the past.

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Trading Information

Previous Close Price
$270.09
Day Range
$271.19–277.72
52-Week Range
$182.09–277.72
Bid/Ask
$248.84 / $275.48
Market Cap
$197.82 Bil
Volume/Avg
2.8 Mil / 3.1 Mil

Key Statistics

Price/Earnings (Normalized)
35.34
Price/Sales
9.68
Dividend Yield (Trailing)
0.38%
Dividend Yield (Forward)
0.39%
Total Yield
0.38%

Company Profile

In 1984, Danaher’s founders transformed a real estate organization into an industrial-focused manufacturing company. Through a series of mergers, acquisitions, and divestitures, Danaher now focuses primarily on manufacturing scientific instruments and consumables in the life science and diagnostic industries after the late 2023 divesititure of its environmental and applied solutions group, Veralto.
Sector
Healthcare
Industry
Diagnostics & Research
Stock Style Box
Large Core
Total Number of Employees
63,000
Website
https://www.danaher.com

Competitors

Valuation

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Metric
DHR
TMO
MRK
Price/Earnings (Normalized)
 35.3428.0821.60
Price/Book Value
 3.974.892.48
Price/Sales
 9.685.533.33
Price/Cash Flow
 31.7227.2315.89
Price/Earnings
DHR
TMO
MRK

Financial Strength

Metric
DHR
TMO
MRK
Quick Ratio
 0.851.190.72
Current Ratio
 1.431.701.29
Interest Coverage
 14.934.8310.23
Quick Ratio
DHR
TMO
MRK

Profitability

Metric
DHR
TMO
MRK
Return on Assets (Normalized)
 5.02%8.69%5.60%
Return on Equity (Normalized)
 8.07%18.71%10.13%
Return on Invested Capital (Normalized)
 5.87%10.97%7.63%
Return on Assets
DHR
TMO
MRK
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