Danaher Corporation (DHR) quarterly cash flow statement — complete operating, investing & financing history
Danaher Corporation (DHR) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|
| Cash from Operations | 1.89B | 1.53B | 1.32B | 2.12B | 1.66B | 1.34B | 1.3B | 2.02B | 1.51B | 1.42B | 1.74B | 1.62B | 1.67B | 1.93B | 1.95B | 2.54B | 2.01B | 2B | 1.97B | 2.33B |
| Operating CF Margin % | 28.78% | 24.49% | 22.21% | 30.96% | 27.46% | 22.54% | 22.63% | 30.88% | 26.1% | 24.67% | 30% | 25.28% | 29.73% | 26.91% | 32.73% | 35.62% | 26.23% | 25.8% | 25.6% | 28.63% |
| Operating CF Growth % | 13.48% | 14.65% | 1.77% | 4.85% | 9.85% | -5.58% | -25.3% | 24.71% | -9.51% | -26.43% | -10.68% | -36.28% | -16.82% | -3.7% | -1.07% | 8.92% | -1.18% | -5.66% | 5.18% | 5.03% |
| Net Income | 1.24B | 870M | 1.03B | 1.2B | 908M | 555M | 954M | 1.09B | 818M | 907M | 1.09B | 536M | 940M | 1.11B | 1.45B | 2.23B | 1.57B | 1.68B | 1.73B | 1.79B |
| Depreciation & Amortization | 0 | 659M | 627M | 522M | 622M | 611M | 591M | 595M | 591M | 580M | 586M | 493M | 533M | 540M | 557M | 565M | 540M | 552M | 565M | 587M |
| Stock-Based Compensation | 0 | 93M | 58M | 146M | 83M | 91M | 61M | 57M | 84M | 87M | 60M | 26M | 79M | 96M | 70M | 66M | 89M | 101M | 80M | 59M |
| Deferred Taxes | 0 | 0 | 0 | -440M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.2B | 0 | 0 | 0 | -559M | 0 | 0 | 0 | -229M |
| Other Non-Cash Items | 957M | -157M | -245M | 537M | 116M | 476M | 96M | 107M | 119M | 59M | 62M | 2.01B | 271M | 67M | -22M | 644M | 64M | 98M | 24M | 267M |
| Working Capital Changes | -306M | 69M | -147M | 155M | -67M | -395M | -403M | 174M | -99M | -216M | -57M | -242M | -151M | 117M | -117M | -407M | -255M | -431M | -426M | -139M |
| Change in Receivables | -160M | 71M | 66M | -151M | -199M | 45M | 89M | -151M | -108M | 74M | 516M | -387M | -56M | 134M | 631M | -343M | 11M | -225M | 80M | -459M |
| Change in Inventory | -51M | -46M | -132M | 184M | 6M | -82M | -166M | 264M | 35M | -34M | -118M | 210M | 103M | 129M | -257M | 243M | -61M | -237M | -431M | -64M |
| Change in Payables | -81M | -38M | -41M | 143M | -23M | -50M | -61M | 205M | -82M | -30M | -74M | 250M | -36M | -135M | -228M | 185M | -169M | 120M | -131M | 449M |
| Cash from Investing | -300M | -10.15B | -249M | -384M | -312M | -258M | -242M | -694M | -606M | -360M | -321M | -6.02B | -329M | -431M | -304M | -816M | -515M | -400M | -503M | -879M |
| Capital Expenditures | -255M | -269M | -237M | -371M | -292M | -248M | -245M | -516M | -298M | -287M | -291M | -402M | -365M | -341M | -275M | -329M | -277M | -296M | -250M | -420M |
| CapEx % of Revenue | 3.89% | 4.29% | 3.98% | 5.43% | 4.82% | 4.18% | 4.27% | 7.89% | 5.14% | 5% | 5.02% | 6.28% | 6.49% | 4.76% | 4.62% | 4.61% | 3.61% | 3.82% | 3.25% | 5.15% |
| Acquisitions | 0 | -9.84B | 0 | 0 | 0 | 4M | 9M | -33M | -502M | -11M | 0 | -5.61B | 4M | 4M | 42M | -333M | -227M | -60M | -17M | -333M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -45M | 12M | 8M | -166M | 7M | 13M | 7M | -4M | 13M | 12M | 14M | -13M | 11M | 4M | -29M | -256M | 14M | -104M | 21M | 2M |
| Cash from Financing | -262M | 7.27B | 46M | 1.26B | -2.72B | -247M | -1.25B | -1.69B | -845M | -5.71B | -133M | -2.25B | 2.44B | -208M | -262M | -906M | -230M | -1.16B | -274M | -1.42B |
| Debt Issued (Net) | -7M | 8.48B | 309M | -478M | 475M | 2M | 1M | -696M | -14M | -1.03B | 68M | -4.22B | 2.6B | -3M | -4M | -704M | -50M | -944M | 10M | -1.15B |
| Equity Issued (Net) | 34M | -886M | -9M | -69M | -1.96B | 19M | -1.08B | -647M | -573M | -4.45B | -1M | 17M | 55M | 30M | -34M | 16M | 38M | -23M | -46M | 23M |
| Dividends Paid | -281M | -283M | -226M | -226M | -229M | -229M | -194M | -195M | -196M | -200M | -177M | -200M | -199M | -218M | -204M | -203M | -204M | -220M | -191M | -191M |
| Share Repurchases | 0 | -885M | -9M | -25M | -1.99B | 0 | -1.08B | -809M | -640M | -4.53B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -8M | -43M | -28M | 2.04B | -1.01B | -39M | 21M | -154M | -62M | -35M | -23M | 2.16B | -16M | -17M | -20M | -15M | -14M | 27M | -47M | -100M |
| Net Change in Cash | 1.33B | -1.35B | 1.09B | 3.1B | -782M | 964M | -85M | -549M | 253M | -4.66B | 1.17B | -6.41B | 3.7B | 1.2B | 1.38B | 845M | 1.17B | 267M | 1.13B | 34M |
| Free Cash Flow | 1.63B | 1.26B | 1.08B | 1.75B | 1.37B | 1.09B | 1.05B | 1.5B | 1.22B | 1.13B | 1.45B | 1.22B | 1.31B | 1.58B | 1.67B | 2.21B | 1.73B | 1.7B | 1.72B | 1.91B |
| FCF Margin % | 24.89% | 20.19% | 18.23% | 25.53% | 22.63% | 18.36% | 18.36% | 22.99% | 20.96% | 19.68% | 24.98% | 19% | 23.24% | 22.15% | 28.11% | 31.01% | 22.62% | 21.98% | 22.35% | 23.48% |
| FCF Growth % | 19.05% | 16.05% | 2.94% | 16.17% | 12.76% | -3.54% | -27.21% | 23.5% | -7.04% | -28.71% | -13.4% | -44.98% | -24.58% | -6.98% | -2.68% | 15.63% | 0.99% | -6.12% | 6.05% | 0.4% |
| FCF per Share | 2.31 | 1.79 | 1.53 | 2.46 | 1.92 | 1.52 | 1.46 | 2.04 | 1.67 | 1.52 | 1.93 | 1.63 | 1.75 | 2.13 | 2.27 | 2.97 | 2.35 | 2.32 | 2.33 | 2.59 |
| FCF Conversion (FCF/Net Income) | 1.53x | 1.76x | 1.28x | 1.77x | 1.83x | 2.41x | 1.36x | 1.86x | 1.85x | 1.56x | 1.60x | 1.50x | 1.48x | 1.74x | 1.34x | 1.14x | 1.28x | 1.19x | 1.14x | 1.30x |
| Interest Paid | 0 | 108M | 28M | -231M | 82M | 86M | 63M | -280M | 104M | 134M | 42M | 0 | 104M | 103M | 82M | 0 | 83M | 83M | 84M | 173M |
| Taxes Paid | 0 | 350M | 191M | -808M | 277M | 330M | 201M | -933M | 315M | 396M | 222M | 0 | 476M | 466M | 228M | 0 | 469M | 398M | 227M | 0 |