Analysis of Inventory
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Aggregate Accruals
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Inventory Disclosure
Danaher Corp., balance sheet: inventory
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Finished goods | |||||||||||
| Work in process | |||||||||||
| Raw materials | |||||||||||
| Inventories |
Based on: 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), 10-K (reporting date: 2020-12-31).
- Finished Goods
- The value of finished goods inventory showed an upward trend from 1232 million USD in 2020 to a peak of 1504 million USD in 2022. Subsequently, there was a decline in 2023 and 2024, dropping to 1282 million USD and then to 1145 million USD respectively, indicating a reduction in finished goods stock after 2022.
- Work in Process
- Work in process inventory increased from 369 million USD in 2020 to 473 million USD in 2021, maintaining the same level in 2022. It then slightly decreased to 459 million USD in 2023 but rose marginally to 465 million USD in 2024. Overall, this component demonstrates a relatively stable trend after an initial increase.
- Raw Materials
- Raw materials inventory grew substantially from 691 million USD in 2020 to 1133 million USD in 2022. Following this peak, the value declined to 853 million USD in 2023 and further to 720 million USD in 2024, reflecting a significant drawdown in raw materials after 2022.
- Total Inventories
- Total inventories increased consistently from 2292 million USD in 2020 to a high of 3110 million USD in 2022. After this peak, a notable reduction occurred in 2023 and 2024 with totals of 2594 million USD and 2330 million USD respectively. This trend suggests a conscious inventory management effort to decrease overall stock levels after reaching the highest point in 2022.
- Overall Analysis
- The inventory data indicates a build-up in all categories—finished goods, work in process, and raw materials—peaking in 2022. The subsequent decrease across most inventory types in 2023 and 2024 suggests a strategic inventory drawdown possibly aimed at optimizing working capital or responding to changes in demand. The work in process inventory remains comparatively stable, pointing to consistent production activities.