Profitability Analysis
Quarterly Data

Difficulty: Beginner


Ratios (Summary)

Danaher Corp., profitability ratios (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015 Dec 31, 2014 Sep 26, 2014 Jun 27, 2014 Mar 28, 2014 Dec 31, 2013 Sep 27, 2013 Jun 28, 2013 Mar 29, 2013
Return on Sales
Gross profit margin 55.80% 55.61% 55.27% 55.09% 55.36% 55.29% 54.16% 53.47% 52.86% 52.34% 52.51% 52.56% 52.43% 52.44% 52.37% 52.19% 52.16% 52.08% % % %
Operating profit margin 16.72% 16.48% 15.69% 15.65% 16.05% 16.29% 16.51% 16.27% 16.81% 16.87% 16.81% 17.26% 17.03% 17.23% 17.37% 17.27% 17.24% 17.13% % % %
Net profit margin 13.56% 13.60% 13.36% 12.63% 13.41% 15.13% 13.72% 18.39% 17.92% 16.33% 16.57% 13.08% 12.98% 13.05% 13.79% 13.51% 13.36% 14.10% % % %
Return on Investment
Return on equity (ROE) 9.39% 9.45% 9.39% 8.95% 9.68% 11.10% 10.76% 14.00% 14.47% 14.17% 14.41% 10.82% 11.10% 11.11% 11.48% 11.14% 11.25% 12.04% % % %
Return on assets (ROA) 5.41% 5.34% 5.20% 4.82% 5.09% 5.64% 6.04% 6.81% 7.33% 6.96% 6.70% 7.05% 7.18% 7.02% 7.67% 7.41% 7.37% 7.77% % % %
Source: Based on data from Danaher Corp. Quarterly and Annual Reports
Ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Danaher Corp.'s gross profit margin improved from Q3 2017 to Q4 2017 and from Q4 2017 to Q1 2018.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Danaher Corp.'s operating profit margin improved from Q3 2017 to Q4 2017 and from Q4 2017 to Q1 2018.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Danaher Corp.'s net profit margin improved from Q3 2017 to Q4 2017 but then slightly deteriorated from Q4 2017 to Q1 2018.
ROE A profitability ratio calculated as net income divided by shareholders' equity. Danaher Corp.'s ROE improved from Q3 2017 to Q4 2017 but then deteriorated significantly from Q4 2017 to Q1 2018.
ROA A profitability ratio calculated as net income divided by total assets. Danaher Corp.'s ROA improved from Q3 2017 to Q4 2017 and from Q4 2017 to Q1 2018.

Gross Profit Margin

Danaher Corp., gross profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015 Dec 31, 2014 Sep 26, 2014 Jun 27, 2014 Mar 28, 2014 Dec 31, 2013 Sep 27, 2013 Jun 28, 2013 Mar 29, 2013
Selected Financial Data (USD $ in thousands)
Gross profit 2,643,600  2,839,100  2,536,800  2,482,300  2,334,300  2,500,000  2,286,000  2,381,300  2,167,300  3,013,300  2,637,000  2,644,000  2,468,200  2,803,700  2,565,700  2,620,200  2,452,900  2,711,700  2,424,700  2,495,500  2,325,700 
Sales 4,695,400  5,085,700  4,528,200  4,510,100  4,205,700  4,584,300  4,132,100  4,241,900  3,924,100  5,884,800  5,023,400  4,960,200  4,694,700  5,417,200  4,870,300  4,963,600  4,662,700  5,266,700  4,669,100  4,737,500  4,444,700 
Ratio
Gross profit margin1 55.80% 55.61% 55.27% 55.09% 55.36% 55.29% 54.16% 53.47% 52.86% 52.34% 52.51% 52.56% 52.43% 52.44% 52.37% 52.19% 52.16% 52.08% % % %
Source: Based on data from Danaher Corp. Quarterly and Annual Reports

Q1 2018 Calculations

1 Gross profit margin = 100 × (Gross profitQ1 2018 + Gross profitQ4 2017 + Gross profitQ3 2017 + Gross profitQ2 2017) ÷ (SalesQ1 2018 + SalesQ4 2017 + SalesQ3 2017 + SalesQ2 2017)
= 100 × (2,643,600 + 2,839,100 + 2,536,800 + 2,482,300) ÷ (4,695,400 + 5,085,700 + 4,528,200 + 4,510,100) = 55.80%

Ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Danaher Corp.'s gross profit margin improved from Q3 2017 to Q4 2017 and from Q4 2017 to Q1 2018.

Operating Profit Margin

Danaher Corp., operating profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015 Dec 31, 2014 Sep 26, 2014 Jun 27, 2014 Mar 28, 2014 Dec 31, 2013 Sep 27, 2013 Jun 28, 2013 Mar 29, 2013
Selected Financial Data (USD $ in thousands)
Operating profit 743,000  953,000  767,500  683,700  617,000  728,600  699,100  710,100  613,100  978,800  800,800  934,400  755,100  887,300  865,800  889,300  788,900  888,000  812,400  843,600  730,900 
Sales 4,695,400  5,085,700  4,528,200  4,510,100  4,205,700  4,584,300  4,132,100  4,241,900  3,924,100  5,884,800  5,023,400  4,960,200  4,694,700  5,417,200  4,870,300  4,963,600  4,662,700  5,266,700  4,669,100  4,737,500  4,444,700 
Ratio
Operating profit margin1 16.72% 16.48% 15.69% 15.65% 16.05% 16.29% 16.51% 16.27% 16.81% 16.87% 16.81% 17.26% 17.03% 17.23% 17.37% 17.27% 17.24% 17.13% % % %
Source: Based on data from Danaher Corp. Quarterly and Annual Reports

Q1 2018 Calculations

1 Operating profit margin = 100 × (Operating profitQ1 2018 + Operating profitQ4 2017 + Operating profitQ3 2017 + Operating profitQ2 2017) ÷ (SalesQ1 2018 + SalesQ4 2017 + SalesQ3 2017 + SalesQ2 2017)
= 100 × (743,000 + 953,000 + 767,500 + 683,700) ÷ (4,695,400 + 5,085,700 + 4,528,200 + 4,510,100) = 16.72%

Ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Danaher Corp.'s operating profit margin improved from Q3 2017 to Q4 2017 and from Q4 2017 to Q1 2018.

Net Profit Margin

Danaher Corp., net profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015 Dec 31, 2014 Sep 26, 2014 Jun 27, 2014 Mar 28, 2014 Dec 31, 2013 Sep 27, 2013 Jun 28, 2013 Mar 29, 2013
Selected Financial Data (USD $ in thousands)
Net earnings 566,600  856,600  572,100  557,300  506,100  747,000  391,600  656,700  758,400  688,600  1,403,300  695,700  569,800  661,700  680,600  676,400  579,700  789,300  597,000  616,800  691,900 
Sales 4,695,400  5,085,700  4,528,200  4,510,100  4,205,700  4,584,300  4,132,100  4,241,900  3,924,100  5,884,800  5,023,400  4,960,200  4,694,700  5,417,200  4,870,300  4,963,600  4,662,700  5,266,700  4,669,100  4,737,500  4,444,700 
Ratio
Net profit margin1 13.56% 13.60% 13.36% 12.63% 13.41% 15.13% 13.72% 18.39% 17.92% 16.33% 16.57% 13.08% 12.98% 13.05% 13.79% 13.51% 13.36% 14.10% % % %
Source: Based on data from Danaher Corp. Quarterly and Annual Reports

Q1 2018 Calculations

1 Net profit margin = 100 × (Net earningsQ1 2018 + Net earningsQ4 2017 + Net earningsQ3 2017 + Net earningsQ2 2017) ÷ (SalesQ1 2018 + SalesQ4 2017 + SalesQ3 2017 + SalesQ2 2017)
= 100 × (566,600 + 856,600 + 572,100 + 557,300) ÷ (4,695,400 + 5,085,700 + 4,528,200 + 4,510,100) = 13.56%

Ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Danaher Corp.'s net profit margin improved from Q3 2017 to Q4 2017 but then slightly deteriorated from Q4 2017 to Q1 2018.

Return on Equity (ROE)

Danaher Corp., ROE calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015 Dec 31, 2014 Sep 26, 2014 Jun 27, 2014 Mar 28, 2014 Dec 31, 2013 Sep 27, 2013 Jun 28, 2013 Mar 29, 2013
Selected Financial Data (USD $ in thousands)
Net earnings 566,600  856,600  572,100  557,300  506,100  747,000  391,600  656,700  758,400  688,600  1,403,300  695,700  569,800  661,700  680,600  676,400  579,700  789,300  597,000  616,800  691,900 
Total Danaher stockholders' equity 27,189,900  26,358,200  25,375,400  24,590,000  23,785,800  23,002,800  23,191,600  25,045,100  24,504,700  23,690,300  23,112,700  24,101,200  23,321,000  23,378,100  23,740,700  23,720,500  22,961,700  22,385,300  21,304,600  20,296,100  19,681,100 
Ratio
ROE1 9.39% 9.45% 9.39% 8.95% 9.68% 11.10% 10.76% 14.00% 14.47% 14.17% 14.41% 10.82% 11.10% 11.11% 11.48% 11.14% 11.25% 12.04% % % %
Source: Based on data from Danaher Corp. Quarterly and Annual Reports

Q1 2018 Calculations

1 ROE = 100 × (Net earningsQ1 2018 + Net earningsQ4 2017 + Net earningsQ3 2017 + Net earningsQ2 2017) ÷ Total Danaher stockholders' equity
= 100 × (566,600 + 856,600 + 572,100 + 557,300) ÷ 27,189,900 = 9.39%

Ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders' equity. Danaher Corp.'s ROE improved from Q3 2017 to Q4 2017 but then deteriorated significantly from Q4 2017 to Q1 2018.

Return on Assets (ROA)

Danaher Corp., ROA calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015 Dec 31, 2014 Sep 26, 2014 Jun 27, 2014 Mar 28, 2014 Dec 31, 2013 Sep 27, 2013 Jun 28, 2013 Mar 29, 2013
Selected Financial Data (USD $ in thousands)
Net earnings 566,600  856,600  572,100  557,300  506,100  747,000  391,600  656,700  758,400  688,600  1,403,300  695,700  569,800  661,700  680,600  676,400  579,700  789,300  597,000  616,800  691,900 
Total assets 47,145,200  46,648,600  45,851,300  45,646,800  45,245,100  45,295,300  41,297,500  51,503,700  48,385,600  48,222,200  49,707,900  36,986,800  36,072,300  36,991,700  35,535,900  35,652,100  35,042,600  34,672,200  33,721,200  33,109,000  32,469,300 
Ratio
ROA1 5.41% 5.34% 5.20% 4.82% 5.09% 5.64% 6.04% 6.81% 7.33% 6.96% 6.70% 7.05% 7.18% 7.02% 7.67% 7.41% 7.37% 7.77% % % %
Source: Based on data from Danaher Corp. Quarterly and Annual Reports

Q1 2018 Calculations

1 ROA = 100 × (Net earningsQ1 2018 + Net earningsQ4 2017 + Net earningsQ3 2017 + Net earningsQ2 2017) ÷ Total assets
= 100 × (566,600 + 856,600 + 572,100 + 557,300) ÷ 47,145,200 = 5.41%

Ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Danaher Corp.'s ROA improved from Q3 2017 to Q4 2017 and from Q4 2017 to Q1 2018.