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Danaher DHR Operating margin

Operating margin at other companies

Becton, Dickinson and Company logo
Becton, Dickinson and CompanyBDX
10.4%+0.1pp
GLW
CorningGLW
15.2%+5.4pp
Dover logo
DoverDOV
16.7%+0.5pp
Thermo Fisher Scientific logo
Thermo Fisher ScientificTMO
17.2%+0.8pp
IDEX logo
IDEXIEX
20.7%+0.6pp
WAT
Waters CorporationWAT
16%-12.3pp

Other financials

Income statement

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Revenue$6.0B+3.7%
Gross profit$3.6B+2.3%
Operating income$1.3B+5.5%
Net income$1.0B+7.9%
EPS (diluted)$1.45+9.9%

Balance sheet

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Cash & equivalents$5.7B+186%
Total debt$19.7B+12.0%
Total equity$52.9B+4.1%
Total assets$83.5B+5.6%

Cash flow

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Operating cash flow$1.3B+1.8%
CapEx$237.0M-3.3%
Free cash flow$1.1B+2.9%

Valuation

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Market cap$125.81B-8.5%
Enterprise value$139.8B-8.7%
P/E34.1×-2.4×
P/S5.1×-0.7×

Profitability

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Gross margin58.9%-0.8pp
Net margin14.9%-0.9pp

Returns & leverage

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Return on equity7.1%-0.1pp
Debt / equity0.4×0.0×
Current ratio1.9×+0.4×

Where this comes from

Calculated from Danaher’s reported figures.

Based on trailing twelve months.

The official record: Danaher’s 10-Q, filed April 21, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Danaher's operating margin?
Danaher (DHR) reported operating margin of 19.2% in Q1 2026.
How has Danaher's operating margin changed year-over-year?
Danaher's operating margin decreased by 5.2% year-over-year, from 20.3% to 19.2%.
What is the long-term trend for Danaher's operating margin?
Over 4 years (2021 to 2025), Danaher's operating margin has grown at a -5.9% compound annual growth rate (CAGR), from 97.7% to 76.7%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.