Stock Analysis on Net
Stock Analysis on Net

Danaher Corp. (NYSE:DHR)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Danaher Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Jun 26, 2026 Mar 27, 2026 Dec 31, 2025 Sep 26, 2025 Jun 27, 2025 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
Notes payable and current portion of long-term debt 1.53 1.10 0.00 0.03 0.62 0.63 0.65 1.49 0.89 2.09 2.01 2.90 1.87 1.85 0.70 0.87 0.01 0.01 0.01 0.01 0.03 0.01
Trade accounts payable 1.97 2.14 2.21 2.13 2.11 2.18 2.26 1.98 2.09 2.01 2.09 2.16 2.30 2.45 2.72 2.70 2.96 2.83 3.09 2.59 2.52 2.64
Accrued expenses and other liabilities 5.27 5.68 5.94 5.76 5.59 5.59 5.85 5.64 5.54 5.22 5.70 5.61 5.72 5.97 6.52 6.30 6.27 6.21 6.69 6.20 6.20 6.40
Current liabilities 8.77% 8.93% 8.16% 7.92% 8.32% 8.40% 8.77% 9.10% 8.53% 9.33% 9.79% 10.68% 9.90% 10.27% 9.95% 9.88% 9.24% 9.05% 9.79% 8.80% 8.75% 9.05%
Other long-term liabilities 7.06 6.66 6.83 7.08 6.90 7.13 7.34 7.00 7.18 6.91 7.12 7.34 7.64 7.72 8.04 9.25 9.29 9.25 9.26 9.93 10.30 10.48
Long-term debt, excluding current portion 27.23 21.02 22.06 21.07 20.65 20.19 19.99 20.25 20.76 19.68 19.77 22.24 21.54 21.47 22.63 22.88 24.51 26.10 26.65 28.60 26.14 26.87
Long-term liabilities 34.29% 27.68% 28.89% 28.15% 27.55% 27.32% 27.33% 27.25% 27.94% 26.59% 26.90% 29.58% 29.18% 29.19% 30.67% 32.13% 33.80% 35.35% 35.90% 38.52% 36.44% 37.35%
Total liabilities 43.06% 36.61% 37.05% 36.07% 35.87% 35.72% 36.10% 36.36% 36.48% 35.92% 36.69% 40.26% 39.08% 39.46% 40.62% 42.01% 43.03% 44.40% 45.69% 47.32% 45.19% 46.40%
Preferred stock, no par value 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.96 1.98 2.06 2.04 3.92 3.93 3.96 4.19 4.33
Common stock, $0.01 par value 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Additional paid-in capital 18.90 20.71 20.60 21.37 20.78 21.29 21.57 11.54 12.48 17.04 16.75 16.05 16.42 14.26 14.31 14.79 14.49 12.14 12.13 12.13 12.68 12.98
Treasury stock -13.34 -13.65 -13.60 -14.20 -11.40 -11.76 -10.53 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Retained earnings 52.21 57.02 56.18 57.47 55.43 56.77 56.99 53.71 54.32 50.31 48.62 48.18 48.70 47.55 46.48 45.88 43.77 41.17 39.46 37.86 38.79 38.01
Accumulated other comprehensive loss -0.86 -0.71 -0.25 -0.74 -0.70 -2.04 -4.15 -1.63 -3.30 -3.29 -2.07 -4.51 -4.21 -3.25 -3.40 -4.76 -3.36 -1.65 -1.23 -1.29 -0.87 -1.75
Total Danaher stockholders’ equity 56.93% 63.38% 62.94% 63.92% 64.12% 64.27% 63.89% 63.63% 63.52% 64.08% 63.31% 59.73% 60.91% 60.53% 59.37% 57.98% 56.96% 55.59% 54.30% 52.67% 54.80% 53.59%
Noncontrolling interests 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.00 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Total stockholders’ equity 56.94% 63.39% 62.95% 63.93% 64.13% 64.28% 63.90% 63.64% 63.52% 64.08% 63.31% 59.74% 60.92% 60.54% 59.38% 57.99% 56.97% 55.60% 54.31% 52.68% 54.81% 53.60%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

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 capital structure exhibits a general trend of deleveraging from 2021 through early 2025, followed by a marked increase in liabilities and a corresponding contraction in equity by mid-2026. Total liabilities decreased from a peak of 47.32% in October 2021 to a low of 35.72% in March 2025, before rising sharply to 43.06% by June 2026.

Liability Composition and Debt Management
Long-term debt, excluding the current portion, showed a sustained downward trend for several years, falling from 26.87% in April 2021 to approximately 20% by late 2024. However, a significant reversal occurred in the final period, with long-term debt surging to 27.23% by June 2026, suggesting a recent increase in long-term borrowing.
Current liabilities remained relatively stable throughout the observed period, generally fluctuating between 7.92% and 10.68%. Trade accounts payable and accrued expenses showed minor downward drifts, indicating consistent management of short-term operational obligations relative to the total balance sheet.
Notes payable and the current portion of long-term debt remained negligible for the first half of the period, peaking briefly at 2.90% in September 2023 before returning to lower levels, with a slight uptick to 1.53% by June 2026.
Equity Growth and Capital Allocation
Total stockholders' equity followed an inverse trajectory to total liabilities, growing from 53.60% in April 2021 to a peak of 64.28% in March 2025. This growth was primarily driven by a steady increase in retained earnings, which rose from 38.01% to a peak of 57.47% in September 2025, reflecting strong internal capital accumulation.
A significant shift in capital allocation is observed starting in December 2024 with the introduction of treasury stock, which reached a peak contra-equity balance of -14.20% in September 2025. This indicates an aggressive share repurchase program that offset some of the gains in retained earnings.
Additional paid-in capital experienced a period of growth, rising from approximately 12% to a peak of 21.57% in December 2024, before stabilizing around 18.90% by June 2026.
Other Balance Sheet Dynamics
Preferred stock, which represented 4.33% of the total structure in early 2021, was gradually reduced to approximately 2% by mid-2022 and was no longer present in the reported data after March 2023, indicating a complete redemption or conversion of preferred shares.
Accumulated other comprehensive loss remained a consistent but small drag on equity, fluctuating between -0.25% and -4.76%, with the most significant losses occurring between July 2022 and June 2023.

AI Ask an analyst for more

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.

How can I help you?