Common-Size Balance Sheet: Assets
Quarterly Data
Danaher Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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 composition of assets at the company exhibits several notable trends over the observed period from April 2021 to December 2025. Current assets as a percentage of total assets demonstrate considerable fluctuation, while long-term assets maintain a relatively stable, high proportion. Within current assets, cash and equivalents, and prepaid expenses show the most volatility. A significant portion of the asset base is consistently allocated to goodwill and other intangible assets.
- Current Assets
- Current assets initially increased from 18.58% in April 2021 to a peak of 24.17% in September 2023, before declining to 15.28% by December 2025. This suggests a dynamic management of short-term liquidity, potentially influenced by operational cycles or strategic investments. The substantial increase in current assets in 2023 is particularly noteworthy. The decline in the most recent periods may indicate a deployment of these assets into long-term investments or debt reduction.
- Cash and Equivalents
- Cash and equivalents experienced significant swings, ranging from a low of 2.68% in December 2022 to a high of 13.99% in September 2023. This volatility could be attributed to acquisitions, divestitures, or seasonal cash flow patterns. The recent trend from September 2024 through December 2025 shows a decrease, stabilizing around 5.53%.
- Trade Accounts Receivable
- Trade accounts receivable remained relatively stable, fluctuating between approximately 4.64% and 5.83% of total assets throughout the period. This consistency suggests effective credit and collection policies. A slight downward trend is observable in the later periods, potentially reflecting improved collection efficiency or a change in sales terms.
- Inventory
- Inventory as a percentage of total assets generally decreased over the period, moving from 3.21% in April 2021 to 2.98% in December 2025. This could indicate improved inventory management practices, leading to reduced holding costs and increased efficiency. There were some fluctuations, peaking at 3.98% in July 2022, but the overall trend is downward.
- Long-Term Assets
- Long-term assets consistently comprised the majority of the company’s asset base, ranging from approximately 80.27% to 87.77%. Within long-term assets, goodwill and other intangible assets represent a substantial portion. Goodwill fluctuated between 44.63% and 53.75%, while other intangible assets ranged from 21.35% to 28.33%. The combined weight of these two items suggests a significant reliance on acquired intangible value. Property, plant, and equipment, net, showed a gradual increase over the period, rising from 4.33% to 6.63%.
In summary, the company’s asset allocation demonstrates a strategic focus on long-term investments, particularly in goodwill and intangible assets. Current asset management appears dynamic, with notable fluctuations in cash and equivalents. Inventory levels are generally decreasing, potentially indicating improved operational efficiency. The overall asset structure suggests a mature company with a substantial base of acquired assets.
AI Ask an analyst for more