Stock Analysis on Net

Danaher Corp. (NYSE:DHR)

$24.99

Common-Size Balance Sheet: Assets
Quarterly Data

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Danaher Corp., common-size consolidated balance sheet: assets (quarterly data)

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Mar 28, 2025 Dec 31, 2024 Sep 27, 2024 Jun 28, 2024 Mar 29, 2024 Dec 31, 2023 Sep 29, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jul 1, 2022 Apr 1, 2022 Dec 31, 2021 Oct 1, 2021 Jul 2, 2021 Apr 2, 2021 Dec 31, 2020 Oct 2, 2020 Jul 3, 2020 Apr 3, 2020
Cash and equivalents
Trade accounts receivable, less allowance for doubtful accounts
Finished goods
Work in process
Raw materials
Inventories
Prepaid expenses and other current assets
Current assets
Property, plant and equipment, net of accumulated depreciation
Other long-term assets
Goodwill
Other intangible assets, net
Long-term assets
Total assets

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03).


Cash and equivalents
The proportion of cash and equivalents relative to total assets exhibited considerable volatility over the examined period. Starting near 6.34%, it rose to peaks exceeding 13% in late 2023 before declining markedly below 3% by the end of 2024 and early 2025. This indicates fluctuating liquidity levels with intermittent periods of higher cash reserves followed by substantial reductions.
Trade accounts receivable, less allowance for doubtful accounts
This asset category remained relatively stable, consistently ranging between approximately 4% and 5.8% of total assets. A mild declining trend is observable from early 2023 through 2025, suggesting marginal improvement or more conservative recognition of receivables relative to overall asset size.
Finished goods
The share of finished goods in total assets stayed within a narrow band around 1.5% to nearly 2%, with periodic minor fluctuations but no clear directional trend. Slight decreases toward the latter periods may imply efforts to reduce inventory levels or improved inventory management efficiency.
Work in process
The representation of work-in-process assets maintained a stable level, generally between 0.5% and 0.65% of total assets, showing minimal variation. Slight declines towards the end of the analyzed period may indicate process optimization or inventory turnover improvements.
Raw materials
Raw materials as a percentage of total assets showed a moderate increase from under 1% in early periods to peaks near 1.4% in 2022, followed by gradual decreases to values just below 1% toward 2025. This pattern could reflect adjustments in supply inventory management in response to demand conditions.
Inventories (aggregate of finished goods, work in process, and raw materials)
Overall inventory levels fluctuated between approximately 3% and 4% of total assets, peaking around 2022 and 2023 before trending downward closer to 3% toward 2025. This suggests a cycle of inventory buildup followed by leaner inventory holdings.
Prepaid expenses and other current assets
These assets exhibited variability, generally ranging between 1.1% and 2% of total assets. The highest levels appeared near the end of 2020 and 2022 periods, indicating occasional increases in prepaid costs or other current asset categories relative to total asset size.
Current assets
Current assets as a percentage of total assets experienced notable fluctuations. From around 16% in early 2020, it increased to over 20% by late 2023. Significant dips appear in late 2021 and again from 2023 into 2025, where values declined to about 12%. These shifts reveal cycles of liquidity changes and timing differences in current asset accruals.
Property, plant and equipment, net of accumulated depreciation
This long-term asset category displayed a consistent upward trajectory, growing steadily from around 4.3% to over 6.4% of total assets by the end of 2024. This suggests ongoing capital investments and asset base expansion over the period.
Other long-term assets
There was a modest overall increase in other long-term assets, rising from approximately 3.2% early on to around 5% to 5.6% in mid-2022, with some volatility afterwards but maintaining higher levels than the initial periods. This could indicate accumulation of investments or other non-current asset classes.
Goodwill
Goodwill consistently represented a substantial portion of total assets, generally near or above the 45% to 52% range. Notably, it fluctuated with peaks over 52% near the end of 2024, highlighting the significance of acquired intangible value in the company's asset composition.
Other intangible assets, net
The net other intangible assets exhibited a gradual decline from about 28.7% in mid-2020 to roughly 23.8% by early 2025, suggesting amortization effects or disposals outweighing additions in this asset class.
Long-term assets
Long-term assets represented a dominant share of total assets throughout the reviewed periods, fluctuating between roughly 79% and 88%. The highest values occurred near the end of 2024, reinforcing the company's emphasis on long-term asset holdings.
Total assets
By definition, total assets remain constant at 100%, serving as the baseline for all proportional analyses.