DHR · 10-Q · 2026Q2 · Full report

Operating Cash Flow Trends

DANAHER CORP /DE/ · 2026-07-21 · Importance 43 · Surprise 32 · From source text

Operating cash flow increased 8% year over year to approximately $2.9 billion for the first six months of 2026 from $2.637 billion in 2025. The increase included $390 million of higher net earnings. Noncash charges were $359 million lower year over year, primarily because of lower 2025 impairment-related effects and unrealized investment gains or losses, partly offset by higher amortization and depreciation. Receivables, inventories and payables used $120 million of cash in 2026, compared with $225 million used in 2025.

Key facts

• The aggregate of trade accounts receivable, inventories and trade accounts payable used $120 million in operating cash flows during the first six months of 2026, compared to $225 million of operating cash flows used in the comparable period of 2025. source
• Net cash provided by operating activities was $2,856 million for the six-month period ended June 26, 2026 and $2,637 million for the six-month period ended June 27, 2025. source
• Operating cash flows were approximately $2.9 billion for the first six months of 2026, an increase of $219 million, or 8%, as compared to the comparable period of 2025. source
• 2026 operating cash flows reflected an increase of $390 million in net earnings for the first six months of 2026 as compared to the comparable period in 2025. source
• Net earnings for the first six months of 2026 also included $359 million lower year-over-year noncash charges primarily for 2025 impairment charges and unrealized investment gains/losses, net of higher intangible asset amortization, depreciation and amortization of acquisition-related inventory fair-value step-up. source

Impact estimates