DHR · 10-Q · 2026Q3 · Full report
Liquidity and Cash Position
DANAHER CORP /DE/ · 2026-10-21 · Importance 88 · Surprise 82 · From source text
Danaher held approximately $5.7 billion of cash and cash equivalents as of September 25, 2026, including $1.8 billion in the U.S. and $3.9 billion outside the U.S. Financing activities provided approximately $7.1 billion during the first nine months, compared with $4.3 billion used in the prior-year period, primarily because of higher borrowings and lower share repurchases. The company stated that operating cash flow, cash on hand and other liquidity sources were sufficient for acquisitions, debt service, dividends, restructuring and other requirements. Danaher was in compliance with all debt covenants at September 25, 2026.
Key facts
- Total cash used in investing activities for continuing operations: $(10,696) million for nine-month period ended September 25, 2026 versus $(812) million for nine-month period ended September 26, 2025. source
- Repayments of borrowings (maturities longer than 90 days): $(1,434) million for nine-month period ended September 25, 2026 and $(500) million for nine-month period ended September 26, 2025. source
- Total cash provided by (used in) financing activities for continuing operations: $7,057 million for nine-month period ended September 25, 2026 compared to $(4,283) million for nine-month period ended September 26, 2025. source
- Financing activities provided cash of approximately $7.1 billion during the nine-month period ended September 25, 2026 compared to approximately $4.3 billion of cash used in the comparable period of 2025. source
- Net proceeds from borrowings (maturities of 90 days or less): $3,666 million for nine-month period ended September 25, 2026. source
- Borrowings (maturities longer than 90 days): $6,555 million for nine-month period ended September 25, 2026. source
- As of September 25, 2026, the Company held approximately $5.7 billion of cash and cash equivalents. source
- Management believes operating cash flow, cash on hand and other sources of liquidity will be sufficient to allow continued investing in existing businesses, consummating strategic acquisitions and investments, paying interest and servicing debt, paying dividends and funding restructuring activities, as well as repurchasing common stock when deemed appropriate. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | realized | +12.2% | Total cash provided by (used in) financing activities for continuing operations: $7,057 million for nine-month period ended September 25,… |
| cash | negative | realized | -10.6% | Total cash used in investing activities for continuing operations: $(10,696) million for nine-month period ended September 25, 2026 versus… |
| cash | positive | realized | +7.0% | Borrowings (maturities longer than 90 days): $6,555 million for nine-month period ended September 25, 2026. |
| liability | negative | realized | -7.0% | Borrowings (maturities longer than 90 days): $6,555 million for nine-month period ended September 25, 2026. |
| cash | positive | realized | +3.9% | Net proceeds from borrowings (maturities of 90 days or less): $3,666 million for nine-month period ended September 25, 2026. |
| liability | negative | realized | -3.9% | Net proceeds from borrowings (maturities of 90 days or less): $3,666 million for nine-month period ended September 25, 2026. |
| liability | positive | realized | +1.0% | Repayments of borrowings (maturities longer than 90 days): $(1,434) million for nine-month period ended September 25, 2026 and $(500)… |
| cash | positive | realized | — | As of September 25, 2026, the Company held approximately $5.7 billion of cash and cash equivalents. |