DHR · 10-Q · 2026Q3

DANAHER CORP /DE/

Filed 2026-10-21 · Industrials · View original filing on EDGAR

Ranked Events

• Liquidity and Cash PositionImportance 88 · Surprise 82
  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…
• Capital AllocationImportance 75 · Surprise 64
  Danaher paid $790 million in common-stock dividends during the first nine months of 2026, up from $652 million in 2025. The company repurchased $894 million of common stock in 2026, compared with $3.088 billion in…
• AcquisitionsImportance 71 · Surprise 60
  On June 10, 2026, Danaher acquired all outstanding Masimo common stock for approximately $9.8 billion in cash, or $180 per share, net of cash acquired. Masimo generated approximately $1.5 billion of revenue in 2025 and…
• Income Tax Rate ChangesImportance 60 · Surprise 74
  Danaher’s effective tax rate was 9.8% for the first nine months of 2026, compared with 15.5% in the comparable 2025 period. Third-quarter and year-to-date 2026 effective tax rates benefited from discrete tax benefits…
• Interest Expense TrendsImportance 58 · Surprise 56
  Third-quarter interest expense increased $68 million year over year to $135 million, and nine-month interest expense increased $95 million to $305 million. The increases were primarily caused by higher average…
• Operating Cash Flow and CapexImportance 54 · Surprise 40
  Operating cash flow from continuing operations increased 10% to approximately $4.7 billion for the first nine months of 2026 from $4.299 billion. The increase reflected $689 million of higher continuing-operations net…
• Supply Chain Tariff ImpactImportance 47 · Surprise 60
  In February 2026, the U.S. Supreme Court ruled that the International Emergency Economic Powers Act (IEEPA) did not authorize certain tariffs imposed by the U.S. administration. On March 4, 2026, the U.S. Court of…
• Revenue Performance and MixImportance 43 · Surprise 32
  Third-quarter 2026 revenue increased 8.5% year over year to $6.554 billion, while core sales increased 3.0% and core sales excluding respiratory testing increased 5.5%. Nine-month revenue increased 6.0% to $18.770…
• Manufacturing and CapacityImportance 42 · Surprise 14
  Danaher said capital expenditures typically support increasing manufacturing capacity, producing instruments used in its OTL arrangements, replacing equipment, purchasing buildings, new product development, and…
• Guidance / OutlookImportance 40 · Surprise 42
  Danaher cautioned that demand for respiratory testing products may be affected by the severity of the upcoming respiratory season and by customer purchases made in preparation for that season. The Company said these…
• Operating Expense TrendsImportance 39 · Surprise 50
  Third-quarter SG&A increased to $2.159 billion from $1.991 billion, while SG&A remained 32.9% of sales because expense growth tracked sales growth. Third-quarter SG&A included $14 million of additional stock-based…
• Gross Margin DriversImportance 39 · Surprise 50
  Nine-month sales increased to $18.770 billion from $17.730 billion, while gross profit increased to $11.039 billion from $10.557 billion. Gross margin declined to 58.8% from 59.5% for the nine-month period, primarily…
• Operating Margin DriversImportance 39 · Surprise 50
  Consolidated operating margin declined 10 basis points to 19.0% in the third quarter of 2026, but increased 180 basis points to 19.8% for the first nine months. Third-quarter margin was reduced by 130 basis points from…
• China Healthcare Policy ChangesImportance 37 · Surprise 32
  Danaher reported that China’s volume-based procurement program, reimbursement changes and related healthcare policy changes reduced Diagnostics pricing by 1.0% in the third quarter and 1.5% for the first nine months of…
• Products and TechnologyImportance 31 · Surprise 42
  Research and development expenses as a percentage of sales increased during both the three- and nine-month periods ended September 25, 2026. Danaher attributed the increase primarily to spending growth related to new…
• Geographic Revenue PerformanceImportance 30 · Surprise 40
  Developed-market sales increased 5% in the third quarter, but core sales were flat because mid-single-digit growth in Western Europe was offset by a low-single-digit decline in North America and weakness in other…
• End-Market Demand TrendsImportance 25 · Surprise 32
  Danaher reported strengthened sequential demand across applied, clinical, pharmaceutical, biopharmaceutical and biotechnology customers in the third quarter of 2026, while academic and government demand improved but…
• FX / Currency HeadwindsImportance 18 · Surprise 14
  Foreign currency had no significant effect on reported sales in the third quarter of 2026 and increased reported sales by approximately 1.5% for the first nine months of 2026 versus the comparable 2025 period. The…
• Middle East Conflict ImpactImportance 17 · Surprise 24
  During the first nine months of 2026, the Middle East conflict did not materially interrupt Danaher’s supply chain or operations. However, the Company experienced delivery delays and higher logistics costs for goods…
• Regulatory RiskImportance 16 · Surprise 6
  The Internal Revenue Service had substantially completed examinations of Danaher’s U.S. federal income-tax returns through 2018 and was examining returns for 2019 through 2022 as of the third quarter of 2026.…

Revenue by Product (in millions)

Revenue by Geography (in millions)