Income Statement
Quarterly Data
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.
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Danaher Corp. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Aggregate Accruals
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Danaher Corp., consolidated income statement (quarterly data)
US$ in millions
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).
- Sales Trend
- Sales demonstrated a general upward trajectory from April 2020 through December 2021, rising from approximately $4.3 billion to about $8.1 billion. However, from April 2022 onwards, sales showed increased volatility, peaking in December 2022 at roughly $8.4 billion and subsequently declining and fluctuating around $5.7 to $6.5 billion through March 2025.
- Cost of Sales
- Cost of sales increased broadly in line with sales until December 2021, peaking around $3.2 billion, but showed more variable movements afterward with values mostly between $2.2 billion and $3.4 billion. The cost reduction trend in some recent quarters partially offset volatility in sales.
- Gross Profit
- Gross profit followed sales trends, increasing steadily from $2.4 billion in April 2020 to near $5 billion in December 2021. Later, it fluctuated but remained strong, oscillating around $3.3 billion to $4.9 billion, indicating maintained profitability despite sales volatility.
- Selling, General, and Administrative Expenses (SG&A)
- SG&A expenses rose consistently through December 2021, reaching about $2.3 billion. Afterward, these expenses became less predictable, roughly ranging from $1.8 billion to $2.0 billion, suggesting some cost control measures or adjustments aligned with fluctuating sales.
- Research and Development Expenses (R&D)
- R&D expenses increased gradually until December 2021, peaking near $500 million, then slightly decreased and stabilized around $360 million to $440 million in subsequent periods. This indicates a sustained commitment to development despite other cost fluctuations.
- Other Operating Expenses
- Other operating expenses were only reported in October 2021 at a notably high level of $547 million, without further values disclosed, which could represent a nonrecurring or isolated charge impacting that quarter's operating results.
- Operating Costs
- Operating costs grew from $1.7 billion in April 2020 to about $3.0 billion in October 2021, mainly driven by increasing SG&A and R&D expenses. After October 2021, these costs stabilized somewhat, fluctuating between $2.1 billion and $2.5 billion.
- Operating Profit
- Operating profit showed strong growth from $698 million in April 2020 to a peak of approximately $2.2 billion in December 2021. Following this peak, operating profit declined and stabilized around $1.0 billion to $1.5 billion, reflecting mixed impacts from cost and sales variations.
- Other Income and Expense Items
- Other income (expense), net, fluctuated widely over the periods, occasionally providing positive contributions but mostly showing modest negative impacts. Losses on early extinguishment of borrowings occurred in certain quarters, notably in December 2020 and April 2022. Interest expense remained relatively stable around $50 to $85 million, while interest income exhibited an increasing trend, reaching a high of $117 million in December 2023, improving net financing costs.
- Nonoperating Income (Expense)
- Nonoperating income and expenses were volatile, with large positive and negative swings affecting total earnings. Fluctuations suggest periodic gains and losses related to non-core activities or investments.
- Earnings Before Income Taxes
- EBIT showed an upward trend peaking at roughly $2.2 billion in December 2022, followed by some decline and variation, generally remaining above $900 million in recent quarters, aligned with operating profit trends and other income fluctuations.
- Income Taxes
- Tax expenses varied but typically represented a substantial proportion of earnings before tax, occasionally resulting in a positive tax amount indicating possible tax credits or adjustments, such as in December 2022.
- Net Earnings from Continuing Operations
- Net earnings from ongoing operations rose significantly through 2021, peaking above $2.2 billion in December 2022, then decreased and stabilized mostly between $818 million and $1.1 billion, indicating sustained profitability despite fluctuations.
- Earnings from Discontinued Operations
- Discontinued operations contributed income sporadically during mid-2021 and early 2023, with effects ranging from minor to material, including a negative impact in December 2023.
- Net Earnings and Attributable to Common Stockholders
- Net earnings broadly mirrored net earnings from continuing operations and included effects from discontinued operations. The values displayed strong growth until late 2022, followed by periods of decline and fluctuation. Earnings attributable to common stockholders showed a similar pattern, peaking above $2.2 billion and later stabilizing around $800 million to $1.4 billion.
- Mandatory Convertible Preferred Stock Dividends
- Dividends for mandatory convertible preferred stock were consistent until December 2022, after which no amounts were reported, suggesting a possible change in capital structure or instrument activity.