DHR · 10-Q · 2026Q2 · Full report
Liquidity and Cash Position
DANAHER CORP /DE/ · 2026-07-21 · Importance 83 · Surprise 82 · Contradicted
Danaher generated approximately $2.9 billion of operating cash flow in the first six months of 2026 and held approximately $4.3 billion of cash and cash equivalents as of June 26, 2026. Financing activities provided $7.3 billion, including $6.555 billion of borrowings with maturities longer than 90 days and $3.673 billion of net borrowings with maturities of 90 days or less, partly offset by $1.434 billion of long-term debt repayments. The company used debt financing to fund part of the Masimo Acquisition and expects to repay maturities over the next 12 months using cash, new commercial paper, credit facilities or other debt issuance; it was compliant with all debt covenants at June 26, 2026.
Key facts
- Total cash provided by (used in) financing activities was $7,319 million for the six-month period ended June 26, 2026 and $(1,502) million for the six-month period ended June 27, 2025. source
- Total cash used in investing activities was $(10,396) million for the six-month period ended June 26, 2026 and $(500) million for the six-month period ended June 27, 2025. source
- Financing activities provided cash of approximately $7.3 billion during the six-month period ended June 26, 2026 compared to approximately $1.5 billion of cash used in the comparable period of 2025. source
- With respect to the commercial paper and any other notes scheduled to mature during the next twelve months, the Company expects to repay the principal amounts when due using available cash, proceeds from new issuances of commercial paper (if available), drawing on its credit facilities and/or proceeds from other debt issuances. source
- During the six-month periods ended June 26, 2026 and June 27, 2025 the Company invested $67 million and $50 million, respectively, in non-marketable equity securities and partnerships. source
- The Company has relied primarily on borrowings under its commercial paper program to address liquidity requirements that exceed the capacity provided by its operating cash flows and cash on hand and anticipates following the same approach in the future, subject to market disruptions. source
- Comprehensive income decreased by $930 million for the three-month period ended June 26, 2026 as compared to the comparable period of 2025. source
- As of June 26, 2026, the Company held approximately $4.3 billion of cash and cash equivalents. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | negative | realized | -14.8% | Comprehensive income decreased by $930 million for the three-month period ended June 26, 2026 as compared to the comparable period of 2025. |
| cash | negative | realized | -11.3% | Total cash used in investing activities was $(10,396) million for the six-month period ended June 26, 2026 and $(500) million for the… |
| cash | positive | realized | +7.9% | Total cash provided by (used in) financing activities was $7,319 million for the six-month period ended June 26, 2026 and $(1,502) million… |
| cash | negative | realized | -0.0% | During the six-month periods ended June 26, 2026 and June 27, 2025 the Company invested $67 million and $50 million, respectively, in… |
| assets | positive | realized | +0.0% | During the six-month periods ended June 26, 2026 and June 27, 2025 the Company invested $67 million and $50 million, respectively, in… |
| liability | positive | probable | — | With respect to the commercial paper and any other notes scheduled to mature during the next twelve months, the Company expects to repay… |
| cash | unclear | realized | — | As of June 26, 2026, the Company held approximately $4.3 billion of cash and cash equivalents. |