Analysis of Inventory
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Debt to Equity since 2005
- Price to Sales (P/S) since 2005
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Inventory Disclosure
Danaher Corp., balance sheet: inventory
US$ in millions
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Finished goods | |||||||||||
| Work in process | |||||||||||
| Raw materials | |||||||||||
| Inventories |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
Inventory levels exhibited fluctuating behavior over the five-year period. Overall, a decline in total inventories is observed from 2022 to 2024, followed by a modest increase in 2025. Analysis of the individual components reveals differing trends.
- Finished Goods
- The value of finished goods increased from US$1,343 million in 2021 to US$1,504 million in 2022. Subsequently, a decrease is noted, falling to US$1,145 million in 2024 before recovering slightly to US$1,287 million in 2025. This suggests potential adjustments in production output or sales strategies impacting final product holdings.
- Work in Process
- Work in process inventory remained remarkably stable between 2021 and 2023, consistently around US$473 million. A slight increase was observed in 2024 (US$465 million) and 2025 (US$469 million), indicating a consistent level of ongoing production activity with minor fluctuations.
- Raw Materials
- Raw materials inventory increased significantly from US$951 million in 2021 to US$1,133 million in 2022. Following this peak, a consistent decline is apparent, reaching US$720 million in 2024. A small increase to US$733 million is seen in 2025. This pattern could reflect changes in supply chain management, material costs, or production planning.
- Total Inventories
- Total inventories grew from US$2,767 million in 2021 to US$3,110 million in 2022, representing the highest value in the observed period. A subsequent downward trend is evident, with total inventories decreasing to US$2,330 million in 2024. The final year shows a modest recovery to US$2,489 million. The decrease from 2022 to 2024 suggests potential inventory reduction initiatives or decreased demand.
The combined trends indicate a shift in inventory composition. While work in process remained relatively constant, changes in finished goods and raw materials significantly influenced overall inventory levels. The decline in raw materials and finished goods from 2022 to 2024 may warrant further investigation to determine the underlying causes and potential impacts on operational efficiency and sales fulfillment.