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Danaher DHR Return on invested capital

Return on invested capital at other companies

Becton, Dickinson and Company logo
Becton, Dickinson and CompanyBDX
4.8%+0.3pp
GLW
CorningGLW
15.4%+9.7pp
Dover logo
DoverDOV
15.9%+0.7pp
Thermo Fisher Scientific logo
Thermo Fisher ScientificTMO
8.5%+0.5pp
IDEX logo
IDEXIEX
10.5%-0.3pp
WAT
Waters CorporationWAT
4.5%-19.0pp

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
Operating margin19.2%-1.0pp
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 return on invested capital?
Danaher (DHR) reported return on invested capital of 6% in Q1 2026.
How has Danaher's return on invested capital changed year-over-year?
Danaher's return on invested capital decreased by 1.0% year-over-year, from 6.1% to 6%.
What is the long-term trend for Danaher's return on invested capital?
Over 4 years (2021 to 2025), Danaher's return on invested capital has grown at a -10.5% compound annual growth rate (CAGR), from 36.4% to 23.4%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.