Common-Size Balance Sheet: Assets
Quarterly Data
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Danaher Corp. pages available for free this week:
- Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Return on Equity (ROE) since 2005
- Analysis of Debt
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Danaher Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2026-06-26), 10-Q (reporting date: 2026-03-27), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-26), 10-Q (reporting date: 2025-06-27), 10-Q (reporting date: 2025-03-28), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-27), 10-Q (reporting date: 2024-06-28), 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02).
The asset structure is characterized by a heavy concentration in long-term intangible assets, with current assets representing a relatively small and volatile portion of the total balance sheet. Over the analyzed period, long-term assets consistently comprise between 75% and 88% of the total asset mix, indicating a capital structure heavily weighted toward acquired intellectual property and brand value rather than liquid or physical assets.
- Liquidity and Current Asset Trends
- Current assets show significant fluctuation, ranging from a low of 12.02% to a peak of 24.17%. This volatility is primarily driven by cash and equivalents, which peaked at 13.99% in September 2023 before declining sharply to 1.91% by September 2025. Trade accounts receivable have remained relatively stable, though a gradual downward trend is observed, moving from 5.24% in early 2021 to 4.29% by mid-2026. Inventories have maintained a consistent range between 3.0% and 4.0% of total assets, suggesting a stable management of raw materials, work in process, and finished goods relative to the overall growth of the balance sheet.
- Fixed and Long-Term Asset Evolution
- Property, plant, and equipment (PP&E) exhibit a steady upward trajectory, increasing from 4.33% in April 2021 to a peak of 6.73% in September 2025, before settling at 6.31% in June 2026. This indicates a gradual increase in the company's investment in physical infrastructure. Other long-term assets have remained relatively flat, fluctuating between 3.8% and 6.0%.
- Intangible Asset Concentration
- Goodwill and other intangible assets dominate the balance sheet. Goodwill has generally trended upward, increasing from 46.24% in April 2021 to a high of 53.75% in September 2025. Conversely, other intangible assets, net, have shown a general decline, decreasing from 27.04% at the start of the period to approximately 23.12% by June 2026. The combined weight of these two items frequently exceeds 70% of total assets, reflecting a corporate strategy heavily reliant on acquisitions.
Overall, the balance sheet reveals a shift toward a higher concentration of goodwill and a modest expansion of physical assets, contrasted by an increasingly volatile cash position. The stability of receivables and inventories suggests that operational working capital is being managed efficiently even as the total asset base evolves through strategic acquisitions and capital investments.