Stock Analysis on Net
Stock Analysis on Net

Danaher Corp. (NYSE:DHR)

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Beginner level

Long-term Activity Ratios (Summary)

Danaher Corp., long-term (investment) activity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Apr 2, 2021 Dec 31, 2020 Oct 2, 2020 Jul 3, 2020 Apr 3, 2020 Dec 31, 2019 Sep 27, 2019 Jun 28, 2019 Mar 29, 2019 Dec 31, 2018 Sep 28, 2018 Jun 29, 2018 Mar 30, 2018 Dec 31, 2017 Sep 29, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jul 1, 2016 Apr 1, 2016
Net fixed asset turnover 7.59 6.83 6.68 6.35 6.03 7.78 7.31 7.43 7.75 7.92 7.97 7.74 7.60 7.47 7.35 7.20 7.13 7.17
Total asset turnover 0.33 0.29 0.28 0.27 0.26 0.29 0.30 0.35 0.38 0.42 0.41 0.40 0.40 0.39 0.39 0.38 0.38 0.37
Equity turnover 0.61 0.56 0.54 0.52 0.58 0.59 0.57 0.59 0.62 0.71 0.71 0.71 0.69 0.70 0.70 0.71 0.72 0.73

Based on: 10-Q (filing date: 2021-04-22), 10-K (filing date: 2021-02-25), 10-Q (filing date: 2020-10-22), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-10-18), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-19), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-10-19), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-20), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-25), 10-Q (filing date: 2016-04-21).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Danaher Corp.’s net fixed asset turnover ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Danaher Corp.’s total asset turnover ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Danaher Corp.’s equity turnover ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.

Net Fixed Asset Turnover

Danaher Corp., net fixed asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Apr 2, 2021 Dec 31, 2020 Oct 2, 2020 Jul 3, 2020 Apr 3, 2020 Dec 31, 2019 Sep 27, 2019 Jun 28, 2019 Mar 29, 2019 Dec 31, 2018 Sep 28, 2018 Jun 29, 2018 Mar 30, 2018 Dec 31, 2017 Sep 29, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jul 1, 2016 Apr 1, 2016
Selected Financial Data (US$ in millions)
Sales 6,858  6,760  5,883  5,297  4,343  4,868  4,378  4,445  4,220  5,364  4,853  4,981  4,695  5,086  4,528  4,510  4,206  4,584  4,132  4,242  3,924 
Property, plant and equipment, net of accumulated depreciation 3,266  3,262  3,052  2,973  2,989  2,302  2,520  2,542  2,504  2,511  2,462  2,493  2,476  2,455  2,425  2,423  2,409  2,354  2,255  2,785  2,873 
Long-term Activity Ratio
Net fixed asset turnover1 7.59 6.83 6.68 6.35 6.03 7.78 7.31 7.43 7.75 7.92 7.97 7.74 7.60 7.47 7.35 7.20 7.13 7.17
Benchmarks
Net Fixed Asset Turnover, Competitors2
Abbott Laboratories 4.23 3.83 3.74 3.77 4.06 3.97 4.01 3.95 4.03 4.04 4.08 3.98 3.71 3.60 3.48 3.24 3.07 3.66
Becton, Dickinson & Co. 2.99 2.89 2.90 3.07 3.00 3.06 3.08 3.11 3.18 2.97 2.77 2.50 2.33 2.61 2.76 3.13 3.25 3.20 3.23 3.24 2.83
Boston Scientific Corp. 4.93 4.76 4.90 4.89 5.14 5.16 5.35 5.54 5.58 5.51 5.59 5.54 5.45 5.33 5.26 5.28 5.19 5.14
Bristol-Myers Squibb Co. 7.43 7.22 6.86 6.03 5.07 4.18 5.00 4.92 4.67 4.49 4.33 4.25 4.16 4.15 4.10 4.09 3.98 3.90
CVS Health Corp. 21.42 21.25 21.48 21.52 21.49 21.24 20.88 19.69 18.47 17.09 18.05 18.24 18.33 17.95 18.39 17.95 17.78 17.45
Edwards Lifesciences Corp. 3.16 3.14 3.42 3.61 4.07 4.10 4.26 4.26 4.28 4.29 4.40 4.61 4.84 5.05 5.10 5.15 5.35 5.11
Intuitive Surgical Inc. 2.86 2.76 2.85 3.00 3.36 3.52 3.74 3.91 4.12 4.59 4.78 5.02 4.99 5.10 5.12 5.31 5.60 5.90
Medtronic PLC 5.72 5.99 6.52 6.50 6.51 6.54 6.65 6.70 6.62 6.51 6.58 6.67 6.82 6.81 5.94 5.93 5.97 5.96 6.16 5.55 4.98
Stryker Corp. 5.43 5.21 5.62 5.57 5.74 5.80 5.91 5.95 6.04 5.94 6.10 6.21 6.20 6.30 6.55 6.80 7.12 7.22
UnitedHealth Group Inc. 30.76 29.64 30.80 30.30 29.91 27.60 27.98 26.97 27.93 26.59 27.18 26.87 25.36 28.54 29.82 30.31 29.73 31.18

Based on: 10-Q (filing date: 2021-04-22), 10-K (filing date: 2021-02-25), 10-Q (filing date: 2020-10-22), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-10-18), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-19), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-10-19), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-20), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-25), 10-Q (filing date: 2016-04-21).

1 Q1 2021 Calculation
Net fixed asset turnover = (SalesQ1 2021 + SalesQ4 2020 + SalesQ3 2020 + SalesQ2 2020) ÷ Property, plant and equipment, net of accumulated depreciation
= (6,858 + 6,760 + 5,883 + 5,297) ÷ 3,266 = 7.59

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Danaher Corp.’s net fixed asset turnover ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.

Total Asset Turnover

Danaher Corp., total asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Apr 2, 2021 Dec 31, 2020 Oct 2, 2020 Jul 3, 2020 Apr 3, 2020 Dec 31, 2019 Sep 27, 2019 Jun 28, 2019 Mar 29, 2019 Dec 31, 2018 Sep 28, 2018 Jun 29, 2018 Mar 30, 2018 Dec 31, 2017 Sep 29, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jul 1, 2016 Apr 1, 2016
Selected Financial Data (US$ in millions)
Sales 6,858  6,760  5,883  5,297  4,343  4,868  4,378  4,445  4,220  5,364  4,853  4,981  4,695  5,086  4,528  4,510  4,206  4,584  4,132  4,242  3,924 
Total assets 75,426  76,161  72,891  71,268  68,930  62,082  61,531  53,322  51,774  47,833  47,720  48,056  47,145  46,649  45,851  45,647  45,245  45,295  41,298  51,504  48,386 
Long-term Activity Ratio
Total asset turnover1 0.33 0.29 0.28 0.27 0.26 0.29 0.30 0.35 0.38 0.42 0.41 0.40 0.40 0.39 0.39 0.38 0.38 0.37
Benchmarks
Total Asset Turnover, Competitors2
Abbott Laboratories 0.51 0.48 0.47 0.46 0.48 0.47 0.46 0.45 0.45 0.46 0.42 0.43 0.40 0.36 0.35 0.33 0.31 0.40
Becton, Dickinson & Co. 0.33 0.32 0.31 0.33 0.33 0.33 0.33 0.32 0.32 0.30 0.27 0.25 0.22 0.32 0.33 0.51 0.51 0.49 0.47 0.47 0.43
Boston Scientific Corp. 0.33 0.32 0.33 0.33 0.36 0.35 0.39 0.41 0.42 0.47 0.47 0.48 0.48 0.48 0.47 0.47 0.48 0.46
Bristol-Myers Squibb Co. 0.38 0.36 0.31 0.27 0.24 0.20 0.42 0.43 0.67 0.64 0.65 0.66 0.64 0.62 0.61 0.61 0.61 0.58
CVS Health Corp. 1.18 1.16 1.14 1.12 1.13 1.15 1.11 1.03 0.95 0.99 1.43 1.40 1.38 1.94 1.96 1.95 1.93 1.88
Edwards Lifesciences Corp. 0.62 0.61 0.64 0.67 0.74 0.67 0.70 0.71 0.70 0.70 0.61 0.62 0.59 0.60 0.60 0.63 0.66 0.66
Intuitive Surgical Inc. 0.39 0.39 0.41 0.43 0.47 0.46 0.47 0.47 0.47 0.47 0.49 0.50 0.51 0.54 0.53 0.55 0.58 0.42
Medtronic PLC 0.30 0.32 0.33 0.34 0.34 0.34 0.34 0.34 0.33 0.33 0.31 0.31 0.30 0.30 0.30 0.29 0.29 0.29 0.28 0.25 0.22
Stryker Corp. 0.44 0.42 0.44 0.45 0.51 0.49 0.55 0.54 0.53 0.50 0.60 0.60 0.58 0.56 0.56 0.56 0.57 0.55
UnitedHealth Group Inc. 1.27 1.30 1.31 1.28 1.29 1.38 1.37 1.40 1.43 1.48 1.45 1.37 1.33 1.44 1.39 1.39 1.37 1.50

Based on: 10-Q (filing date: 2021-04-22), 10-K (filing date: 2021-02-25), 10-Q (filing date: 2020-10-22), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-10-18), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-19), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-10-19), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-20), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-25), 10-Q (filing date: 2016-04-21).

1 Q1 2021 Calculation
Total asset turnover = (SalesQ1 2021 + SalesQ4 2020 + SalesQ3 2020 + SalesQ2 2020) ÷ Total assets
= (6,858 + 6,760 + 5,883 + 5,297) ÷ 75,426 = 0.33

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Danaher Corp.’s total asset turnover ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.

Equity Turnover

Danaher Corp., equity turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Apr 2, 2021 Dec 31, 2020 Oct 2, 2020 Jul 3, 2020 Apr 3, 2020 Dec 31, 2019 Sep 27, 2019 Jun 28, 2019 Mar 29, 2019 Dec 31, 2018 Sep 28, 2018 Jun 29, 2018 Mar 30, 2018 Dec 31, 2017 Sep 29, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jul 1, 2016 Apr 1, 2016
Selected Financial Data (US$ in millions)
Sales 6,858  6,760  5,883  5,297  4,343  4,868  4,378  4,445  4,220  5,364  4,853  4,981  4,695  5,086  4,528  4,510  4,206  4,584  4,132  4,242  3,924 
Total Danaher stockholders’ equity 40,419  39,766  37,961  36,262  31,055  30,271  32,502  32,201  31,557  28,214  27,673  27,212  27,190  26,358  25,375  24,590  23,786  23,003  23,192  25,045  24,505 
Long-term Activity Ratio
Equity turnover1 0.61 0.56 0.54 0.52 0.58 0.59 0.57 0.59 0.62 0.71 0.71 0.71 0.69 0.70 0.70 0.71 0.72 0.73
Benchmarks
Equity Turnover, Competitors2
Abbott Laboratories 1.11 1.06 1.03 1.03 1.06 1.03 0.99 0.98 0.99 1.00 0.99 0.97 0.91 0.89 0.78 0.75 0.71 1.02
Becton, Dickinson & Co. 0.74 0.72 0.70 0.83 0.82 0.82 0.80 0.80 0.80 0.76 0.69 0.64 0.58 0.93 0.97 1.55 1.64 1.64 1.53 1.60 1.55
Boston Scientific Corp. 0.64 0.65 0.65 0.65 0.78 0.77 1.07 1.07 1.08 1.13 1.17 1.23 1.32 1.29 1.16 1.20 1.22 1.25
Bristol-Myers Squibb Co. 1.14 1.12 0.79 0.71 0.62 0.51 1.37 1.49 1.53 1.61 1.62 1.75 1.64 1.77 1.39 1.38 1.38 1.20
CVS Health Corp. 3.81 3.86 3.86 3.87 4.01 4.00 3.89 3.69 3.51 3.33 5.14 5.25 4.81 4.90 5.23 5.30 5.28 4.82
Edwards Lifesciences Corp. 0.96 0.96 1.04 1.13 1.15 1.05 1.09 1.13 1.11 1.19 1.08 1.12 1.06 1.16 1.05 1.10 1.15 1.13
Intuitive Surgical Inc. 0.45 0.45 0.47 0.50 0.54 0.54 0.55 0.56 0.55 0.56 0.57 0.59 0.60 0.66 0.60 0.63 0.67 0.47
Medtronic PLC 0.56 0.57 0.60 0.61 0.61 0.61 0.61 0.61 0.60 0.59 0.59 0.58 0.59 0.59 0.59 0.58 0.57 0.55 0.56 0.50 0.44
Stryker Corp. 1.09 1.10 1.10 1.10 1.14 1.16 1.18 1.19 1.19 1.16 1.35 1.38 1.38 1.25 1.16 1.19 1.21 1.19
UnitedHealth Group Inc. 3.94 3.90 3.85 3.87 4.29 4.17 4.33 4.41 4.44 4.35 4.37 4.40 4.34 4.19 4.32 4.44 4.49 4.81

Based on: 10-Q (filing date: 2021-04-22), 10-K (filing date: 2021-02-25), 10-Q (filing date: 2020-10-22), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-21), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-10-18), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-19), 10-K (filing date: 2018-02-21), 10-Q (filing date: 2017-10-19), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-20), 10-K (filing date: 2017-02-22), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-25), 10-Q (filing date: 2016-04-21).

1 Q1 2021 Calculation
Equity turnover = (SalesQ1 2021 + SalesQ4 2020 + SalesQ3 2020 + SalesQ2 2020) ÷ Total Danaher stockholders’ equity
= (6,858 + 6,760 + 5,883 + 5,297) ÷ 40,419 = 0.61

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Danaher Corp.’s equity turnover ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.