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Forensic Analysis · Industrial & Scientific Instruments · as of Nov 9, 2026

Danaher Corp /De/ (DHR)

A forensic read on Danaher Corp /De/ built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable
Forensic grade
Safe
Financial health
4.5
Distress distance
Clean
Earnings quality
2
Forensic signals
7.1%
ROE
2.9%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Danaher Corp /De/ earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 4.5, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

5.6%
FY2025
Return on invested capital. Return on invested capital is 5.6% in the latest fiscal year and steady across FY2023–FY2025, inside a 0.4-point range. After-tax operating profit was $4.4B in FY2023 and $4.0B in FY2025, with operating income at 21.8% of revenue in FY2023, 20.4% in FY2024 and 19.1% in FY2025. The capital base behind it went from $72.0B in FY2023 to $70.6B in FY2025 (-2%), while the revenue it carried went from $23.9B to $24.6B.
-6%
FY2023→FY2024
Dividend — cut. The payout was CUT ~6% in FY2024 (from FY2023). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.

Key fundamentals

Latest Revenue$24.57B
Revenue Growth YoY+2.9%
Revenue CAGR (2yr)+1.4%
Net Margin14.7%
Free Cash Flow$5.26B
Return on Equity7.1%
Debt / Equity0.35x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.