Common-Size Balance Sheet: Assets
Quarterly Data
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- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Current Ratio since 2005
- Price to Operating Profit (P/OP) since 2005
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Danaher Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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), 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
- There is notable volatility in the proportion of cash and equivalents over the periods, with values fluctuating between a low of approximately 2.5% and a high close to 14%. Peaks are observed around September 2023 and June 2023, while troughs occur in late 2024 and mid-2025. This suggests periodic liquidity adjustments or cash management strategies responding to operational or investment needs.
- Trade accounts receivable, less allowance for doubtful accounts
- The accounts receivable ratio remains relatively stable across the timeline, fluctuating mildly around 4.0% to 5.8% of total assets. There is a slight declining trend towards the later periods, indicating potentially improved receivables collection efficiency or reduced credit sales relative to asset size.
- Finished goods
- This item consistently represents between 1.5% and just under 2.0% of total assets, with minor variation and a subtle downward trend noticeable starting from early 2023. The stability suggests controlled inventory management, with slight reductions possibly reflecting inventory optimization efforts.
- Work in process
- The work-in-process inventory remains fairly constant around 0.5% to 0.65% of total assets, displaying only minor fluctuations. This stability points to steady production activities and consistent inventory turnover rates during the periods analyzed.
- Raw materials
- The proportion of raw materials as a percentage of total assets exhibits a gradual increase from just below 1.0% in 2020 to peaks above 1.3% by mid-2022, followed by a moderate decline near 1.0% towards mid-2025. This suggests adjustments in procurement or supply chain practices, possibly increasing material holdings in earlier periods and then optimizing inventory levels thereafter.
- Inventories
- Aggregate inventory levels show a similar pattern to raw materials, initially declining slightly until late 2020, then rising to nearly 4.0% by mid-2022 before trending downward towards about 3.2% in mid-2025. The trend reflects shifts in inventory management, with periods of accumulation followed by reduction, potentially to support sales or mitigate supply risks.
- Prepaid expenses and other current assets
- Prepaid expenses and other current assets fluctuate moderately around a 1.5% to 2.2% range. While relatively stable, some periods show spikes, notably toward the end of 2022 and in mid-2025, indicating variable prepayments or accrued charges that may be influenced by timing differences in expenses.
- Current assets
- Current assets as a proportion of total assets experience marked fluctuations, with a sharp drop observed around late 2021 followed by a significant increase peaking near 24% in September 2023. After this peak, current assets sharply decrease again, settling around 12%-13% in later periods. These swings may reflect changing liquidity positions, working capital requirements, or seasonal operational factors.
- Property, plant and equipment, net
- This category steadily increases from approximately 4.3% to about 6.5% of total assets over the five-year span. The upward trajectory indicates ongoing investment in fixed assets or slower depreciation relative to asset growth, suggesting capital expenditure and capacity expansion.
- Other long-term assets
- The ratio of other long-term assets shows moderate variation, initially climbing from about 3.7% to peaks near 6.0% in early 2022, then declining and oscillating around 4.5%-5.0% through mid-2025. This variability may result from reclassifications or fluctuations in non-core investments or deferred charges.
- Goodwill
- Goodwill consistently comprises the largest single portion of total assets, ranging from roughly 44.6% to 52.7%. After some decline in 2023, it rebounds and maintains a high level above 48%, indicating significant acquisitions and relative stability in intangible asset valuation.
- Other intangible assets, net
- This component shows a gradual decline from nearly 29% to around 22.8% of total assets over the evaluation period. The decreasing trend suggests amortization or impairment effects outweigh new additions, reducing the net book value of these intangible assets.
- Long-term assets
- The proportion of long-term assets remains dominant, generally above 80% and peaking near 88% in late 2024. The trend shows some volatility, especially in the middle periods, but overall underscores the company's asset composition heavily weighted towards long-term investments.
- Total assets
- By definition, total assets remain constant at 100% across all periods, serving as the basis for the relative ratios analyzed.