Stock Analysis on Net
Stock Analysis on Net

Danaher Corp. (NYSE:DHR)

$24.99

Operating Profit Margin
since 2005

Microsoft Excel

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Calculation

Danaher Corp., operating profit margin, long-term trends, calculation

Microsoft Excel
Operating profit margin = 100 × Operating profit1 ÷ Sales1
Dec 31, 2025 = 100 × ÷
Dec 31, 2024 = 100 × ÷
Dec 31, 2023 = 100 × ÷
Dec 31, 2022 = 100 × ÷
Dec 31, 2021 = 100 × ÷
Dec 31, 2020 = 100 × ÷
Dec 31, 2019 = 100 × ÷
Dec 31, 2018 = 100 × ÷
Dec 31, 2017 = 100 × ÷
Dec 31, 2016 = 100 × ÷
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Dec 31, 2014 = 100 × ÷
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Dec 31, 2012 = 100 × ÷
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Dec 31, 2009 = 100 × ÷
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Dec 31, 2006 = 100 × ÷
Dec 31, 2005 = 100 × ÷

Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in millions

The operating profit margin exhibited a generally stable pattern from 2005 through 2009, followed by increased volatility and an overall upward trend through 2021. A significant decline occurred in 2022 and 2023, with a slight decrease continuing into 2024 and 2025.

Initial Stability (2005-2009)
From 2005 to 2009, the operating profit margin fluctuated within a relatively narrow range, between 13.79% and 15.84%. This suggests a consistent level of profitability relative to sales during this period. A slight downward trend is observable over these five years, decreasing from 15.84% in 2005 to 13.79% in 2009.
Growth and Volatility (2010-2015)
The period from 2010 to 2015 demonstrates increased variability. The operating profit margin rose to 16.41% in 2010, then increased to 17.33% in 2012, before leveling off around 16.87% to 17.23% for the next three years. This indicates periods of improved operational efficiency and profitability, interspersed with periods of stabilization.
Continued Improvement (2016-2021)
From 2016 through 2021, a clear upward trend in the operating profit margin is evident. It increased from 16.29% in 2016 to a peak of 27.61% in 2021. This substantial improvement suggests significant gains in operational efficiency, pricing power, or a favorable shift in the company’s product mix. The increase is particularly pronounced in 2020 and 2021.
Recent Decline (2022-2025)
Beginning in 2022, the operating profit margin experienced a considerable decline, falling to 21.77%. This downward trend continued in 2023 (20.37%) and 2024 (19.09%), with a further slight decrease to 19.09% in 2025. This recent performance suggests potential challenges related to cost pressures, decreased sales, or increased competition. The magnitude of the decline from the 2021 peak is substantial.

Overall, the operating profit margin demonstrates a long-term trend of improvement, punctuated by periods of stability and a recent, notable decline. Further investigation would be required to determine the underlying causes of the recent downturn.

Comparison to Competitors

Danaher Corp., operating profit margin, long-term trends, comparison to competitors

Microsoft Excel
Danaher Corp. AbbVie Inc. Amgen Inc. Gilead Sciences Inc. Regeneron Pharmaceuticals Inc. Thermo Fisher Scientific Inc. Vertex Pharmaceuticals Inc.
Dec 31, 2025
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Dec 31, 2021
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Dec 31, 2019
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Dec 31, 2012
Dec 31, 2011
Dec 31, 2010
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Dec 31, 2005

Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).