DHR
DANAHER CORP /DE/Evidence as of 2026-09-10The desk's Snapshot
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Overview · DANAHER CORP /DE/
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes and services; and healthcare filtration solutions. The Life Sciences segment…
Management team
- Ms. Georgeann F. Couchara · Senior Vice President of Human ResourcesFind on LinkedIn
- Mr. Brian W. Ellis J.D. · Senior VP, General Counsel & Chief Compliance OfficerFind on LinkedIn
- Dr. Jose-Carlos Gutierrez-Ramos Ph.D. · Senior VP & Chief Science OfficerFind on LinkedIn
- Mr. Matthew R. McGrew · CFO & Executive VPFind on LinkedIn
Start free to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it, not a rating or a recommendation.
−0.6 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled. The rest of the page is the evidence behind it.
The evidence balance is Cautious ( -0.6 ) with high confidence. Revenue has been roughly stable across the most recent fiscal quarters: Q2 2026 (fiscal quarter ended 2026-07-16) $6,265,000,000, Q1 2026 (fiscal quarter ended 2026-04-16) $5,951,000,000, Q3 2025 (fiscal quarter ended 2025-10-16) $6,053,000,000 and Q2 2025 (fiscal quarter ended 2025-07-17) $5,936,000,000. Gross profit and margins show high absolute levels but some quarter-to-quarter movement (gross profit $3,611,000,000, implied margin ~ 57.6% in Q2 2026; $3,591,000,000, ~ 60.4% in Q1 2026).
Operating and net income figures also vary across quarters with operating income of $1,127,000,000 (implied operating margin ~ 18.0%) in Q2 2026 versus $1,344,000,000 (~ 22.6%) in Q1 2026, and net income of $870,000,000 (implied net margin ~ 13.9%) in Q2 2026 versus $1,029,000,000 (~ 17.3%) in Q1 2026. Long-term debt increased materially to $26,558,000,000 as of 2026-06-26 from prior balances around $17–18 billion earlier in the sequence. Valuation and cash-flow metrics at the 2026-09-09 price show trailing twelve-month FCF $5,268,000,000, FCF per share $7.4449, price-to-FCF 27.52, trailing EPS $4.72 and P/E 43.4, implying an implied FCF growth input of 16.93% in the model.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else (no outside knowledge, no browsing), so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC (revenue, margins, income, debt and share count, quarter by quarter) and reports which way the trend is running.
Revenue in the most recent quarters: fiscal Q2 2026 (2026-03-28 to 2026-06-26) was $6,265,000,000; fiscal Q1 2026 (2026-01-01 to 2026-03-27) was $5,951,000,000; fiscal Q3 2025 (2025-06-28 to 2025-09-26) was $6,053,000,000; fiscal Q2 2025 (2025-03-29 to 2025-06-27) was $5,936,000,000.
XBRL companyfacts · 0000313616-26-000161Gross profit and implied gross margins: fiscal Q2 2026 gross profit $3,611,000,000 (implied gross margin ~57.6% = 3,611 / 6,265); fiscal Q1 2026 gross profit $3,591,000,000 (implied gross margin ~60.4% = 3,591 / 5,951); fiscal Q3 2025 gross profit $3,523,000,000 (implied gross margin ~58.2% = 3,523 / 6,053); fiscal Q2 2025 gross profit $3,523,000,000 (implied gross margin ~59.4% = 3,523 / 5,936).
XBRL companyfacts · 0000313616-26-000161Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full: its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet; its risk analysis fills in once that lands.
The Annual Report filed on February 24, 2026 adds risk language saying the company is in the early stages of incorporating AI into its business and that ineffective or premature AI development or deployment practices could result in unintended consequences such as competitive harm, regulatory penalties, legal liability or reputational harm.
Item 1A risk-factor diff · 0000313616-26-000062 vs 0000313616-25-000043The Annual Report filed on February 24, 2026 states that in 2025 approximately 59% of sales from continuing operations were derived from customers outside the U.S., and that approximately 11% of 2025 sales from continuing operations were derived from China.
Item 1A risk-factor diff · 0000313616-26-000062 vs 0000313616-25-000043Reads the signal panel above (momentum, volatility, drawdown, relative strength and beta) and ranks each against the whole research universe rather than judging it in isolation.
Beta versus SPY is 0.43, indicating historically lower sensitivity to SPY moves on the as-of date.
Moneyta signal set · 2026-09-09Correlation with SPY is 0.18 on the as-of date, showing low contemporaneous co-movement with the S&P 500 proxy.
Moneyta signal set · 2026-09-09Reads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
As of the 13F reporting period ended 31 March 2026, reported institutional holdings totaled $103.35B across 2,154 holders, with quarter-over-quarter reported value down 19.3% and 314 exited positions noted.
13F holdings · 2154 filers · as of 2026-03-31The top reported institutional holders in that 13F period included BlackRock, Inc. at $9.79B, VANGUARD CAPITAL MANAGEMENT LLC at $7.80B (listed as a new position), STATE STREET CORP at $5.30B, FMR LLC at $4.27B, and JPMORGAN CHASE & CO at $3.11B.
13F holdings · 2154 filers · as of 2026-03-31Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
A 13F filing reported that Governors Lane LP acquired 43,534 shares of Danaher Corporation in the second quarter.
News · thelincolnianonline.com · 2026-09-09One outlet’s coverage frames Danaher’s price action as influential for institutional rotational strategy timing.
News · news.stocktradersdaily.com · 2026-09-08weakened in debateReads parsed Forms 3/4/5: who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
Blair Rainer (President & CEO) reported selling 11,307 shares for $2.5M on 2026-08-21.
Form 4 · Blair Rainer (President & CEO) · $2.5M sold · 2026-08-21Blair Rainer (President & CEO) reported selling 39,193 shares for $8.6M on 2026-08-21.
Form 4 · Blair Rainer (President & CEO) · $2.5M sold · 2026-08-21Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
At the price 204.85 on 2026-09-09, the model derives an implied free-cash-flow (FCF) growth rate of 16.93% (0.1693).
Valuation inputs · SEC XBRL + stored EOD closeTrailing twelve-month free cash flow (FCF) is $5,268,000,000 and FCF per share is $7.4449, with price-to-FCF equal to 27.52.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score. The argument is shown, not hidden, so you can judge the reasoning yourself.
The evidence set contains multiple factual items that jointly support a favorable read: recent sequential revenue increases across fiscal quarters, consistently strong gross margins (~58–60%), recovering operating and net margins versus year-ago periods, a declining diluted share count (supporting per-share metrics), large trailing free cash flow ($5.27B) and broad sell-side Buy coverage. Market-profile items — low beta (0.43) and low correlation (0.18) with the S&P 500 — strengthen the case that company-specific fundamentals are driving performance rather than broad market swings. These points are direct disclosures or quantifiable model outputs and are therefore relatively strong evidence; weaker bear points (large increase in reported long-term debt and elevated valuation multiples) are factual but require context (debt timing and stated cash/EV figures, and the FCF-based valuation assumption) to assess materiality.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.34
38 surviving claims rest on 17 distinct sources; the heaviest analyst carries 16% of them, and 93% of what the desk raised survived the debate.
The evidence base is moderately robust: 38 surviving claims draw on 17 distinct sources, which gives breadth, but a single analyst contributes a noticeable share (16%) of the claims so analyst-specific interpretation could sway some conclusions. The fact that 93% of raised points survived desk debate suggests these claims were resilient to initial challenge, though source concentration and analyst influence mean the read should be weighted with caution.
Peer context · computed, not argued
12-1 momentum ranks 6th of 7 in Diagnostics & Research (as of 2026-09-09).
6-month relative strength ranks 5th of 7 in Diagnostics & Research (as of 2026-09-09).
90-day volatility ranks 4th of 7 in Diagnostics & Research (as of 2026-09-09).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment. When the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here (no outside knowledge, no browsing), and each card shows who read it and what it contributed to the score.
11 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data, not retyped or estimated.
Read by Mercer+0.0 to the score
12 documents· 2 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes−1.0 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash+0.0 to the score
3 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.3 to the score
6 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
16 filings· 1 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state, with stated and inferred flags kept apart.
Read by Talbot−0.7 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only; it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal; the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
The full terminal on DHR Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
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