Stock Analysis on Net
Stock Analysis on Net

Danaher Corp. (NYSE:DHR)

Common-Size Balance Sheet: Assets 

Danaher Corp., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Cash and equivalents 2.68 6.94 7.11 3.11 7.92
Trade accounts receivable, less allowance for doubtful accounts 4.56 4.64 5.83 5.57 5.31
Inventories 3.00 3.07 3.69 3.33 3.01
Prepaid expenses and other current assets 2.00 1.84 2.21 2.00 1.88
Current assets 12.25% 16.50% 18.83% 14.00% 18.12%
Property, plant and equipment, net 6.44 5.39 4.69 4.56 4.28
Other long-term assets 5.15 4.31 5.29 4.47 3.14
Goodwill 52.23 49.25 47.13 49.51 46.51
Other intangible assets, net 23.95 24.55 24.07 27.46 27.94
Long-term assets 87.75% 83.50% 81.17% 86.00% 81.88%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

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).

Cash and equivalents
The proportion of cash and equivalents relative to total assets exhibits a fluctuating trend, declining significantly from 7.92% in 2020 to 2.68% in 2024, with a notable dip between 2023 and 2024. This indicates a decreasing liquidity position or a strategic reduction in cash holdings over the years.
Trade accounts receivable, less allowance for doubtful accounts
This ratio shows a mild increase from 5.31% in 2020 to a peak of 5.83% in 2022, followed by a decrease to 4.56% by 2024. This suggests some variability in credit sales or collections but overall a slight reduction in receivables relative to total assets in recent years.
Inventories
Inventories as a percentage of total assets have remained relatively stable, fluctuating modestly between 3.01% and 3.69%. By 2024, inventory levels slightly decreased to 3%, indicating consistent inventory management with marginal changes over the period.
Prepaid expenses and other current assets
The share of prepaid expenses and other current assets remains relatively steady, ranging between 1.84% and 2.21%. This stability suggests consistent advance payments and current asset composition without significant volatility.
Current assets
Current assets showed a decrease from 18.12% in 2020 to 12.25% in 2024, with some fluctuation within the period. The decline indicates a shift towards a lower proportion of current assets, implying either an increase in non-current assets or asset restructuring.
Property, plant and equipment, net
There is a notable upward trend in property, plant, and equipment, net as a percentage of total assets, increasing from 4.28% in 2020 to 6.44% in 2024. This suggests increased investment in fixed assets or capital expenditures over the period.
Other long-term assets
The percentage of other long-term assets shows variability, rising from 3.14% in 2020 to 5.15% in 2024, peaking at 5.29% in 2022. This increase may reflect acquisitions, deferred charges, or other investments categorized within long-term assets.
Goodwill
Goodwill constitutes the largest portion of total assets, exhibiting growth from 46.51% in 2020 to 52.23% in 2024. The increase indicates ongoing acquisitions or recognition of intangible assets, underscoring the company's expansion strategy through business combinations.
Other intangible assets, net
Other intangible assets, net as a percentage of total assets, show a declining trend from 27.94% in 2020 to 23.95% in 2024. This decrease may result from amortization, impairment, or a slower pace of intangible asset acquisitions relative to total asset growth.
Long-term assets
The overall long-term assets percentage increased from 81.88% in 2020 to 87.75% in 2024, indicating a strategic emphasis on long-term investments and a decreasing relative weight of current assets within the asset base.
Total assets
Total assets are normalized to 100% for each period, serving as the base for all proportional measurements and confirming that the changes observed across line items are relative to the total asset base.