Danaher Files 2025 Annual Report to Security Holders

Ticker: DHR · Form: ARS · Filed: Mar 25, 2026 · CIK: 0000313616

Danaher Corp /De/ ARS Filing Summary
FieldDetail
CompanyDanaher Corp /De/ (DHR)
Form TypeARS
Filed DateMar 25, 2026
Risk Levellow
Pages14
Reading Time17 min
Key Dollar Amounts$18,416, $15,500, $2, $505, $7.3B
Sentimentneutral

Complexity: moderate

Sentiment: neutral

Topics: annual-report, financial-disclosure, corporate-governance

TL;DR

**Danaher just dropped its 2025 annual report, giving investors the full financial picture.**

AI Summary

Danaher Corp. filed its Annual Report to Security Holders (ARS) on March 25, 2026, for the fiscal period ending December 31, 2025. This filing, identified by SEC Accession No. 0000313616-26-000105, provides shareholders with a comprehensive overview of the company's performance and financial health for the past year. For investors, this matters because it's the primary source of detailed, audited financial information, allowing them to assess Danaher's operational efficiency, profitability, and future prospects, which can directly influence stock valuation and investment decisions.

Why It Matters

This ARS filing is crucial for investors as it contains the official, audited financial statements and management's discussion and analysis for the 2025 fiscal year, providing transparency into Danaher's performance and strategic direction.

Risk Assessment

Risk Level: low — An ARS filing is a standard, mandatory disclosure and does not inherently carry significant risk; rather, it provides information to assess company-specific risks.

Analyst Insight

A smart investor would download and thoroughly review the 'danaher2025annualreport.htm' document to understand Danaher's financial performance, management's outlook, and any significant changes from previous years, using this information to inform their investment thesis.

Key Numbers

  • 145 — Number of Documents (Indicates the comprehensive nature of the annual report filing.)
  • 576756 — Size of main ARS document (bytes) (Represents the digital size of the primary annual report HTML file, 'danaher2025annualreport.htm'.)
  • 2025-12-31 — Period of Report (The fiscal year-end covered by this annual report, providing a clear timeframe for the financial data.)
  • 2026-03-25 — Filing Date (The date the annual report was officially submitted to the SEC, indicating its timeliness.)

Key Players & Entities

  • DANAHER CORP /DE/ (company) — Filer of the Annual Report to Security Holders
  • 0000313616 (company) — Central Index Key (CIK) for Danaher Corp.
  • 2026-03-25 (date) — Filing Date and Effectiveness Date of the ARS
  • 2025-12-31 (date) — Period of Report end date for the ARS
  • 08:20:46 (time) — Accepted time of the filing on 2026-03-25

Forward-Looking Statements

  • Investors will analyze the detailed financial statements within the 'danaher2025annualreport.htm' to assess Danaher's profitability and growth for 2025. (DANAHER CORP /DE/) — high confidence, target: 2026-04-25
  • Analysts will issue updated price targets and ratings for Danaher based on the information disclosed in this ARS filing. (DANAHER CORP /DE/) — medium confidence, target: 2026-05-25

FAQ

What is the purpose of an ARS filing for Danaher Corp.?

The ARS (Annual Report to Security Holders) filing for Danaher Corp. serves as the company's primary communication to its shareholders, providing a comprehensive overview of its financial performance, operations, and strategic initiatives for the fiscal year ending December 31, 2025, as indicated by the 'Period of Report 2025-12-31' in the filing details.

When was Danaher Corp.'s 2025 Annual Report officially filed with the SEC?

Danaher Corp.'s 2025 Annual Report was officially filed with the SEC on March 25, 2026, at 08:20:46, as stated by the 'Filing Date 2026-03-25' and 'Accepted 2026-03-25 08:20:46' in the filing details.

What is the SEC Accession Number for this specific Danaher Corp. ARS filing?

The SEC Accession Number for this specific Danaher Corp. ARS filing is 0000313616-26-000105, as clearly stated in the filing details.

How many individual documents are included in this ARS filing by Danaher Corp.?

This ARS filing by Danaher Corp. includes 145 individual documents, as indicated by 'Documents 145' in the filing details. This suggests a detailed and extensive report.

What is the file name and type of the main annual report document within this filing?

The main annual report document within this filing is named 'danaher2025annualreport.htm' and is of document type 'ARS', as listed under 'Seq 1 Description Document Type Size'.

Filing Stats: 4,304 words · 17 min read · ~14 pages · Grade level 16.3 · Accepted 2026-03-25 08:20:46

Key Financial Figures

  • $18,416 — ty) $ 70,959 $ 65,555 * Long-Term Debt ($18,416 for 2025 and $15,500 for 2024) plus Not
  • $15,500 — * Long-Term Debt ($18,416 for 2025 and $15,500 for 2024) plus Notes Payable and Curren
  • $2 — and Current Portion of Long-Term Debt ($2 for 2025 and $505 for 2024) All financi
  • $505 — tion of Long-Term Debt ($2 for 2025 and $505 for 2024) All financial data set forth
  • $7.3B — . 2025 Segment Revenues Life Sciences $7.3B 66% Recurring 34% Nonrecurring 41% Nort
  • $10.0B — Other Developed Markets Geo Diagnostics $10.0B 89% Recurring 11% Nonrecurring 50% Nort
  • $24.6 billion — lid financial performance. We generated $24.6 billion in revenue, representing 2% core revenu
  • $5.3 billion — perating environment. We also generated $5.3 billion of free cash flow and converted free ca
  • $24.6B — us to return 2025 Highlights Revenue of $24.6B Gross profit margin of 59.1% Adjusted o
  • $5.3 b — rofit margin of 28.2% Free cash flow of $5.3 billion, marking the 34th consecutive yea
  • $4 billion — low exceeded net income approximately $4 billion to shareholders through dividends and s
  • $2 billion — veral years, we have deployed more than $2 billion to expand capacity for bioprocessing pr
  • $0.01 — hange on which registered Common stock, $0.01 par value DHR New York Stock Exchange 0
  • $125.9 b — of the Registrant on June 30, 2025 was $125.9 billion, based upon the closing price of

Filing Documents

From the Filing

danaher2025annualreport Financial Operating Highlights Danaher (dollars in millions except per share data and number of associates) 2025 2024 Sales $ 24,568 $ 23,875 Operating Profit $ 4,690 $ 4,863 Net Earnings from Continuing Operations $ 3,600 $ 3,899 Net Earnings Per Common Share (Diluted) from Continuing Operations $ 5.03 $ 5.29 Adjusted Diluted Net Earnings Per Common Share from Continuing Operations (Non-GAAP) $ 7.80 $ 7.48 Operating Cash Flow from Continuing Operations $ 6,416 $ 6,688 Investing Cash Flow from Continuing Operations $ (1,196) $ (1,981) Financing Cash Flow from Continuing Operations $ (2,961) $ (8,385) Capital Expenditures $ (1,156) $ (1,392) Capital Disposals $ 33 $ 13 Free Cash Flow from Continuing Operations (Operating Cash Flow less Capital Expenditures plus Capital Disposals) $ 5,293 $ 5,309 Number of Associates 60,000 63,000 Total Assets $ 83,464 $ 77,542 Total Debt* $ 18,418 $ 16,005 Stockholders' Equity $ 52,541 $ 49,550 Total Capitalization (Total Debt plus Stockholders' Equity) $ 70,959 $ 65,555 * Long-Term Debt ($18,416 for 2025 and $15,500 for 2024) plus Notes Payable and Current Portion of Long-Term Debt ($2 for 2025 and $505 for 2024) All financial data set forth in this annual report relates solely to continuing operations unless otherwise indicated. 2025 Segment Revenues Life Sciences $7.3B 66% Recurring 34% Nonrecurring 41% North America 23% Western Europe 29% High-Growth Markets 7% Other Developed Markets Geo Biotechnology $7.3B 88% Recurring 12% Nonrecurring 33% North America 35% Western Europe 27% High-Growth Markets 5% Other Developed Markets Geo Diagnostics $10.0B 89% Recurring 11% Nonrecurring 50% North America 17% Western Europe 29% High-Growth Markets 4% Other Developed Markets Geo Danaher Mix Mix Mix Rainer M. Blair President and Chief Executive Officer Dear Shareholders, In 2025, we were reminded—clearly and powerfully— of Danaher's mission: to use science and technology to improve human health. Across our portfolio, our teams brought together deep scientific expertise, operational excellence and an unwavering sense of urgency to help customers address some of the most complex challenges in medicine. In many cases, that work may improve outcomes for millions of patients. In others, it begins with a single life— and opens the door to what may be possible for many more. Earlier in the year, clinicians at Children's Hospital of Philadelphia and Penn Medicine confronted an extraordinary challenge: an infant diagnosed with an ultrarare genetic disorder that causes toxic levels of ammonia to accumulate in the blood, rapidly threatening brain function and survival. With no established treatment available, the medical team made a bold decision—to correct the underlying genetic error itself. Working closely with our operating companies Aldevron, Integrated DNA Technologies (IDT) and Cytiva, the team moved from concept to an in-vivo CRISPR baseediting therapy in roughly six months— about onethird of the typical development timeline. The treatment was designed specifically for this patient, but it represents something much larger: a new model for how genetic diseases may be addressed in the future. In the months that followed, the child—known as baby KJ—left the hospital and returned home. His case, now documented in The New England Journal of Medicine, is providing families and physicians with a new kind of hope, and offering a glimpse of what is possible when science, technology and collaboration converge at speed. This is one example of the realworld impact of Danaher's technologies, the strength of our teams and the trust our customers place in us. It also reflects what differentiates Danaher—and why I am so proud of what our associates accomplish every day as we deliver Innovation at the Speed of Life. Executing with Strength in a Dynamic Environment That same urgency, precision and collaboration defined how our teams executed across the enterprise in 2025. In a year marked by geopolitical shifts and policy change, our teams stayed close to customers, executed rigorously and finished stronger than we started. That rigorous execution, central to the Danaher Business System (DBS), enabled us to deliver solid financial performance. We generated $24.6 billion in revenue, representing 2% core revenue growth year over year, and delivered 4.5% adjusted EPS growth year over year— reflecting strong operating leverage in a dynamic operating environment. We also generated $5.3 billion of free cash flow and converted free cash flow at approximately 145% of net income, marking our 34th consecutive year of free cash flow exceeding net income. This strong cash generation enabled us to return 2025 Highlights Revenue of $24.6B Gross profit margin of 59.1% Adjusted operating profit margin of 28.2% Free cash flow of $5.3 billion, marking the 34th consecutive year in which our free cash flow exceeded net income approximately $4 billion to shareholders through dividends and s

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