Stock Analysis on Net
Stock Analysis on Net

Danaher Corp. (NYSE:DHR)

$24.99

Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Paying user area

Try for free

Danaher Corp. pages available for free this week:

The data is hidden behind: . Unhide it.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Danaher Corp., consolidated income statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Research and development expenses
Other operating expenses
Operating costs
Operating profit
Other income (expense), net
Loss on early extinguishment of borrowings
Interest expense
Interest income
Nonoperating income (expense)
Earnings from continuing operations before income taxes
Income taxes
Net earnings from continuing operations
Earnings from discontinued operations, net of income taxes
Net earnings
Mandatory convertible preferred stock dividends
Net earnings attributable to common stockholders

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

The financial data reveals notable fluctuations in the company's performance over the five-year period from 2020 to 2024.

Sales
Sales show a significant increase from 22,284 million US$ in 2020 to a peak of 31,471 million US$ in 2022, followed by a sharp decline to 23,890 million US$ in 2023 and stabilization around 23,875 million US$ in 2024.
Cost of Sales
The cost of sales trends similarly, rising from 9,809 million US$ in 2020 to 12,522 million US$ in 2022, then falling to 9,856 million US$ in 2023 and slightly decreasing again to 9,669 million US$ in 2024, indicating some alignment with sales trends.
Gross Profit
Gross profit increased notably from 12,475 million US$ in 2020 to 18,949 million US$ in 2022, before decreasing substantially to 14,034 million US$ in 2023 and a slight increase to 14,206 million US$ in 2024. This pattern reflects the underlying sales performance and cost control dynamics.
Operating Expenses
Selling, general, and administrative expenses rose steadily from 6,896 million US$ in 2020 to 8,516 million US$ in 2022, then decreased to 7,329 million US$ in 2023 but increased slightly to 7,759 million US$ in 2024. Research and development expenses followed a similar trajectory, increasing from 1,348 million US$ in 2020 to 1,745 million US$ in 2022, then decreasing and rising slightly again in 2024.
Other Operating Expenses and Operating Costs
Data on other operating expenses is sparse, recorded only as 547 million US$ in 2021. Operating costs increased between 2020 and 2022, from 8,244 million US$ to 10,261 million US$, followed by a reduction to 8,832 million US$ in 2023 and a minor increase to 9,343 million US$ in 2024.
Operating Profit
Operating profit grew substantially from 4,231 million US$ in 2020 to a high of 8,688 million US$ in 2022, then decreased sharply to 5,202 million US$ in 2023 and further to 4,863 million US$ in 2024, suggesting some operational challenges or market conditions affecting profitability.
Nonoperating Items
Other income (expense), net, shows a shift from positive levels of 494 million US$ in 2020 to negative values in subsequent years, reaching a loss of 56 million US$ in 2024. Interest expense remained relatively stable, fluctuating slightly around the 275 million US$ level, whereas interest income varied significantly, peaking at 303 million US$ in 2023 before falling to 117 million US$ in 2024. Nonoperating income (expense) overall deteriorated from a positive 264 million US$ in 2020 to a negative 217 million US$ in 2024.
Profit Before Taxes and Net Earnings
Earnings from continuing operations before income taxes surged from 4,495 million US$ in 2020 to 8,292 million US$ in 2022, then decreased to 5,044 million US$ in 2023 and 4,646 million US$ in 2024. Correspondingly, net earnings from continuing operations rose to 7,209 million US$ in 2022 before declining to 3,899 million US$ in 2024. Net earnings overall followed this pattern, peaking in 2022 with 7,209 million US$, dipping to 4,764 million US$ in 2023, and further down to 3,899 million US$ in 2024.
Net Earnings Attributable to Common Stockholders
There was a growth trend from 3,510 million US$ in 2020 to 7,103 million US$ in 2022, followed by a decline to 4,743 million US$ in 2023 and 3,899 million US$ in 2024, reflecting the fluctuations in net earnings and preferred stock dividend impacts.
Dividends and Special Items
Mandatory convertible preferred stock dividends decreased consistently from 136 million US$ in 2020 to near elimination at 21 million US$ by 2023, ceasing to be recorded in 2024, which positively impacts earnings attributable to common stockholders. Earnings from discontinued operations appeared only in 2021 and 2023, with a notable gain of 543 million US$ in 2023.

In summary, the company exhibited strong growth in sales and profitability through 2022, followed by a marked contraction in 2023 and 2024. Operating efficiencies and cost management showed some improvement after 2022 but were not sufficient to maintain prior profit levels. Nonoperating results deteriorated somewhat over time, and income tax expenses decreased in line with lower earnings. The decline in net earnings after 2022 invites further monitoring of market conditions and operational strategies.