Danaher Corporation

DHRNYSEHealthcare● Active

$185.43

+$1.13(+0.61%)

Market Cap$131.2B

P/E Ratio—

52W High$242.8

52W Low$160.93

Avg Volume4.5M

Open$184.55

Beta0.83

Free Cash Flow Financials Revenue

Danaher Corporation (DHR) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

DHR · free cash flow · updated Jun 8, 2026

Core FCF metrics

DHR · FCF · TTM · margin & CAGR

Free cash flow was $5.26B for FY2025 (fiscal year ending 2025-12-31), down 0.7% year-over-year The FCF margin was 21.4%. Five-year CAGR stands at -0.6%.

FY2025 Free Cash Flow$5.26B▼ -0.7% YoY

Trailing 12M (TTM)$5.29Btrailing 4 quarters sum

FCF Margin21.4%$5.26B ÷ revenue

3-Year CAGR-10.6%FY2022 → FY2025

5-Year CAGR-0.6%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

DHR · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$6.42B(1.16B)$5.26B▼ 0.7%21.4%

FY2024$6.69B(1.39B)$5.30B▼ 8.4%22.2%

FY2023$7.16B(1.38B)$5.78B▼ 21.5%24.2%

FY2022$8.52B(1.15B)$7.37B▲ +4.3%27.6%

FY2021$8.36B(1.29B)$7.06B▲ +30.4%24.0%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

DHR · P/FCF · FCF yield · FCF per share

Danaher Corporation (DHR) trades at a FCF yield of 4.04% and a price-to-free-cash-flow ratio of 24.8x. FCF per share stands at $7.48, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

4.04%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$7.48

TTM FCF ÷ Shares Outstanding

Price / FCF

x24.8

Share Price ÷ FCF per Share

EV / FCF (TTM)

x27.1

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

DHR · cash flow statement · operating / investing / financing

For FY2025, Danaher Corporation generated $6.42B in operating cash flow and spent 1.16B in capital expenditures, yielding $5.26B in free cash flow.

Operating Activities

+$6.42B

Cash from core business operations

2025-12-31

Investing Activities

−$1.20B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$2.96B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($6.42B) − |CapEx| (1.16B) = FCF ($5.26B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Healthcare)

DHR vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Danaher CorporationYOU

DHR

$5.26B-0.7%21.4%

27%

UnitedHealth Group Incorporated

UNH

$16.07B-22.4%3.6%

82%

Eli Lilly and Company

LLY

$8.97B+2065.6%13.8%

46%

Healthcare · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Danaher Corporation (DHR) reported free cash flow of $5.26B for FY2025 (fiscal year ending 2025-12-31), down 0.7% year-over-year. The FCF margin was 21.4%.

Based on available data, Danaher Corporation has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $7.37B in FY2022. The 5-year CAGR stands at -0.6%.

Danaher Corporation's FCF yield is 4.04% and price-to-FCF ratio is 24.8x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

DHR free cash flow · 8 questions

Danaher Corporation free cash flow was $5.26B for FY2025, down 0.7% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $5.29B.

DHR free cash flowDHR FCFDHR FCF 2025DHR free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Danaher Corporation · Danaher Corporation SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026