Common-Size Balance Sheet: Assets
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- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Revenues
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Danaher Corp., common-size consolidated balance sheet: assets
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).
The asset composition of the entity demonstrates significant shifts over the five-year period. A notable trend is the fluctuation in current assets as a percentage of total assets, alongside a consistent dominance of long-term assets. Within long-term assets, goodwill and intangible assets represent a substantial portion, with some changes observed over time.
- Liquidity and Current Assets
- Current assets as a percentage of total assets increased from 14.00% in 2021 to a peak of 18.83% in 2022, before declining to 12.25% in 2024. A subsequent increase to 15.28% is observed in 2025. This suggests a period of increased short-term asset investment followed by a strategic shift, potentially towards longer-term investments or asset reduction, and then a partial recovery. Within current assets, cash and equivalents experienced a substantial rise from 3.11% to 7.11% between 2021 and 2022, followed by a decrease to 2.68% in 2024 and a recovery to 5.53% in 2025. Trade accounts receivable remained relatively stable, fluctuating between 4.56% and 5.83% of total assets. Inventories exhibited a slight downward trend, decreasing from 3.33% to 2.98% over the period.
- Long-Term Investments
- Long-term assets consistently represent the majority of the entity’s asset base, ranging from 81.17% to 87.75% of total assets. Property, plant, and equipment, net, showed a steady increase from 4.56% in 2021 to 6.63% in 2025, indicating ongoing investment in fixed assets. Other long-term assets also increased, though with more fluctuation, from 4.47% to 5.15% before settling at 5.04% in 2025.
- Goodwill and Intangible Assets
- Goodwill constitutes a significant portion of total assets, consistently above 47%. It decreased from 49.51% in 2021 to 47.13% in 2022, then increased to 52.23% in 2024 before decreasing slightly to 51.70% in 2025. Other intangible assets, net, experienced a more pronounced decline, decreasing from 27.46% in 2021 to 21.35% in 2025. This suggests a potential shift in the company’s strategy regarding acquisitions or a write-down of intangible asset values. The combined percentage of goodwill and other intangible assets decreased from 76.97% in 2021 to 73.05% in 2025.
Overall, the entity’s asset allocation demonstrates a strategic focus on long-term assets, particularly goodwill and intangible assets. The fluctuations in current assets suggest active management of short-term liquidity and investment. The observed trends warrant further investigation into the underlying business decisions driving these changes.