Stock Analysis on Net
Stock Analysis on Net

Danaher Corp. (NYSE:DHR)

Analysis of Profitability Ratios
Quarterly Data

Beginner level


Profitability Ratios (Summary)

Danaher Corp., profitability ratios (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Return on Sales
Gross profit margin 55.28% 55.85% 55.74% 55.61% 55.53% 55.71% 55.83% 56.03% 56.18% 55.80% 55.61% 55.27% 55.09% 55.36% 55.29% 54.16% 53.47% 52.86% 52.34%
Operating profit margin 17.37% 18.01% 18.25% 17.46% 17.61% 17.41% 17.11% 17.27% 17.23% 16.69% 16.48% 15.73% 15.69% 16.09% 16.29% 16.51% 16.27% 16.81% 16.87%
Net profit margin 18.35% 18.13% 16.80% 13.01% 13.11% 12.45% 13.33% 14.07% 13.84% 13.56% 13.60% 13.36% 12.63% 13.41% 15.13% 13.72% 18.39% 17.92% 16.33%
Return on Investment
Return on equity (ROE) 9.56% 10.53% 9.94% 7.63% 7.69% 7.66% 9.40% 9.98% 9.81% 9.39% 9.45% 9.39% 8.95% 9.68% 11.10% 10.76% 14.00% 14.47% 14.17%
Return on assets (ROA) 4.86% 4.74% 4.85% 4.03% 4.64% 4.67% 5.54% 5.79% 5.55% 5.41% 5.34% 5.20% 4.82% 5.09% 5.64% 6.04% 6.81% 7.33% 6.96%

Based on: 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), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

Profitability 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 ratio improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Danaher Corp.’s operating profit margin ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Danaher Corp.’s net profit margin ratio improved from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Danaher Corp.’s ROE improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.
ROA A profitability ratio calculated as net income divided by total assets. Danaher Corp.’s ROA deteriorated from Q4 2019 to Q1 2020 but then improved from Q1 2020 to Q2 2020 exceeding Q4 2019 level.

Gross Profit Margin

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

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data (US$ in thousands)
Gross profit 2,852,600  2,442,800  2,336,600  2,808,400  2,483,800  2,354,900  2,955,900  2,690,500  2,817,100  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 
Sales 5,297,400  4,343,100  4,209,100  5,037,300  4,444,500  4,220,200  5,363,500  4,853,100  4,981,000  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 
Profitability Ratio
Gross profit margin1 55.28% 55.85% 55.74% 55.61% 55.53% 55.71% 55.83% 56.03% 56.18% 55.80% 55.61% 55.27% 55.09% 55.36% 55.29% 54.16% 53.47% 52.86% 52.34%
Benchmarks
Gross Profit Margin, Competitors2
Becton, Dickinson & Co. 46.24% 47.78% 47.94% 47.42% 47.28% 45.04% 45.44% 45.60% 46.00% 49.30% 49.14% 48.86% 48.57% 48.59% 47.99% 47.66% 44.92% 45.09% 45.66% 46.34% 50.87% 50.83%
Boston Scientific Corp. 68.26% 70.41% 70.98% 71.20% 71.33% 71.12% 71.37% 71.48% 71.35% 71.78% 71.34% 71.27% 71.38% 70.86% 71.09% 70.88% 70.78% 70.99% 70.94%
Intuitive Surgical Inc. 67.07% 69.04% 69.45% 69.45% 69.47% 69.60% 69.92% 70.07% 70.22% 70.31% 70.12% 69.75% 69.97% 70.08% 69.89% 69.42% 68.38% 67.28% 66.18%
Medtronic PLC 69.22% 69.62% 70.04% 70.33% 70.40% 70.25% 69.77% 69.40% 69.05% 68.67% 68.73% 68.60% 68.66% 68.85% 68.29% 66.00% 66.48% 67.07% 68.86%
Stryker Corp. 63.34% 65.15% 65.14% 64.95% 65.29% 65.47% 65.72% 65.69% 65.55% 65.58% 65.68% 66.12% 66.16% 65.87% 66.18% 66.42% 66.67% 67.01% 66.38%
Thermo Fisher Scientific Inc. 45.39% 44.30% 44.35% 44.48% 44.51% 44.60% 44.57% 44.36% 44.55% 44.68% 45.15% 45.67% 45.88% 45.90% 45.80% 45.62% 45.60% 45.51% 45.72%
UnitedHealth Group Inc. 25.95% 23.52% 23.19% 22.92% 22.89% 23.15% 23.33% 23.36% 23.33% 23.28% 22.98% 23.09% 23.12% 22.99% 23.13% 22.35% 22.20% 22.73% 23.22%

Based on: 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), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

1 Q2 2020 Calculation
Gross profit margin = 100 × (Gross profitQ2 2020 + Gross profitQ1 2020 + Gross profitQ4 2019 + Gross profitQ3 2019) ÷ (SalesQ2 2020 + SalesQ1 2020 + SalesQ4 2019 + SalesQ3 2019)
= 100 × (2,852,600 + 2,442,800 + 2,336,600 + 2,808,400) ÷ (5,297,400 + 4,343,100 + 4,209,100 + 5,037,300) = 55.28%

2 Click competitor name to see calculations.

Profitability 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 ratio improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.

Operating Profit Margin

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

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data (US$ in thousands)
Operating profit 844,600  697,500  903,200  834,800  811,700  719,700  962,600  830,700  867,500  743,000  946,100  767,500  683,700  623,900  728,600  699,100  710,100  613,100  978,800  800,800  934,400  755,100 
Sales 5,297,400  4,343,100  4,209,100  5,037,300  4,444,500  4,220,200  5,363,500  4,853,100  4,981,000  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 
Profitability Ratio
Operating profit margin1 17.37% 18.01% 18.25% 17.46% 17.61% 17.41% 17.11% 17.27% 17.23% 16.69% 16.48% 15.73% 15.69% 16.09% 16.29% 16.51% 16.27% 16.81% 16.87%
Benchmarks
Operating Profit Margin, Competitors2
Becton, Dickinson & Co. 9.23% 7.91% 10.18% 12.98% 12.37% 12.63% 9.37% 9.29% 4.69% 7.32% 12.22% 9.29% 15.17% 15.21% 11.46% 13.23% 10.22% 9.60% 10.45% 12.53% 17.60% 18.59%
Boston Scientific Corp. 6.58% 10.41% 14.14% 15.66% 16.19% 16.50% 15.33% 15.57% 15.74% 14.33% 14.20% 12.53% 12.36% 6.04% 5.33% 0.44% -7.68% -0.76% -4.37%
Intuitive Surgical Inc. 25.86% 30.52% 30.69% 30.82% 31.10% 30.51% 32.21% 33.46% 33.56% 34.52% 33.71% 33.14% 33.79% 34.40% 34.95% 35.32% 33.99% 32.23% 31.04%
Medtronic PLC 20.47% 21.25% 20.51% 20.48% 20.22% 21.70% 22.20% 21.35% 20.47% 18.55% 17.94% 17.72% 18.65% 18.54% 18.35% 14.56% 15.72% 16.37% 18.59%
Stryker Corp. 15.54% 18.86% 18.23% 16.96% 17.00% 17.83% 18.65% 19.22% 19.16% 18.28% 18.40% 18.46% 18.42% 18.68% 19.13% 19.78% 19.53% 19.62% 18.71%
Thermo Fisher Scientific Inc. 17.05% 17.86% 17.99% 17.88% 18.00% 15.90% 15.53% 15.03% 14.36% 14.23% 14.19% 13.94% 13.89% 13.62% 13.40% 13.28% 13.68% 13.65% 13.77%
UnitedHealth Group Inc. 9.89% 8.12% 8.19% 8.02% 7.97% 7.88% 7.71% 7.70% 7.68% 7.67% 7.60% 7.37% 7.26% 7.11% 7.03% 6.78% 6.64% 6.87% 7.05%

Based on: 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), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

1 Q2 2020 Calculation
Operating profit margin = 100 × (Operating profitQ2 2020 + Operating profitQ1 2020 + Operating profitQ4 2019 + Operating profitQ3 2019) ÷ (SalesQ2 2020 + SalesQ1 2020 + SalesQ4 2019 + SalesQ3 2019)
= 100 × (844,600 + 697,500 + 903,200 + 834,800) ÷ (5,297,400 + 4,343,100 + 4,209,100 + 5,037,300) = 17.37%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Danaher Corp.’s operating profit margin ratio deteriorated from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Net Profit Margin

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

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data (US$ in thousands)
Net earnings attributable to Danaher stockholders 927,300  595,100  1,275,100  668,000  731,300  333,800  746,800  663,700  673,800  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 
Sales 5,297,400  4,343,100  4,209,100  5,037,300  4,444,500  4,220,200  5,363,500  4,853,100  4,981,000  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 
Profitability Ratio
Net profit margin1 18.35% 18.13% 16.80% 13.01% 13.11% 12.45% 13.33% 14.07% 13.84% 13.56% 13.60% 13.36% 12.63% 13.41% 15.13% 13.72% 18.39% 17.92% 16.33%
Benchmarks
Net Profit Margin, Competitors2
Becton, Dickinson & Co. 6.17% 5.25% 7.13% 5.47% 6.33% 6.13% 1.95% 5.23% 0.34% 3.28% 9.10% 6.52% 10.67% 10.54% 7.82% 9.24% 6.62% 6.13% 6.76% 8.65% 12.75% 13.56%
Boston Scientific Corp. 39.24% 39.75% 43.78% 10.49% 13.85% 18.08% 17.01% 6.93% 5.48% 1.21% 1.15% 9.55% 9.04% 5.07% 4.14% 0.99% -4.34% -0.47% -3.20%
Intuitive Surgical Inc. 26.07% 30.11% 30.80% 30.94% 29.95% 29.78% 30.29% 22.31% 23.20% 23.25% 21.09% 30.16% 28.44% 27.99% 27.21% 27.51% 26.80% 25.67% 24.69%
Medtronic PLC 15.11% 14.41% 15.16% 16.10% 7.44% 10.56% 10.36% 9.44% 16.93% 13.75% 13.56% 13.51% 14.62% 12.70% 12.27% 8.52% 8.92% 11.28% 13.20%
Stryker Corp. 11.38% 14.47% 13.99% 23.55% 24.99% 25.38% 26.12% 9.31% 8.28% 8.00% 8.20% 14.67% 14.22% 14.33% 14.54% 15.24% 15.33% 16.07% 14.47%
Thermo Fisher Scientific Inc. 14.12% 14.31% 14.47% 14.24% 14.24% 12.89% 12.06% 10.75% 10.36% 10.24% 10.64% 11.74% 11.80% 11.58% 11.06% 11.10% 11.35% 11.49% 11.64%
UnitedHealth Group Inc. 6.94% 5.63% 5.76% 5.61% 5.55% 5.49% 5.33% 5.75% 5.58% 5.43% 5.28% 4.41% 4.23% 4.03% 3.81% 3.64% 3.52% 3.64% 3.72%

Based on: 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), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

1 Q2 2020 Calculation
Net profit margin = 100 × (Net earnings attributable to Danaher stockholdersQ2 2020 + Net earnings attributable to Danaher stockholdersQ1 2020 + Net earnings attributable to Danaher stockholdersQ4 2019 + Net earnings attributable to Danaher stockholdersQ3 2019) ÷ (SalesQ2 2020 + SalesQ1 2020 + SalesQ4 2019 + SalesQ3 2019)
= 100 × (927,300 + 595,100 + 1,275,100 + 668,000) ÷ (5,297,400 + 4,343,100 + 4,209,100 + 5,037,300) = 18.35%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Danaher Corp.’s net profit margin ratio improved from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Return on Equity (ROE)

Danaher Corp., ROE calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data (US$ in thousands)
Net earnings attributable to Danaher stockholders 927,300  595,100  1,275,100  668,000  731,300  333,800  746,800  663,700  673,800  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 
Total Danaher stockholders’ equity 36,261,700  31,055,100  30,270,600  32,502,300  32,201,200  31,556,600  28,214,400  27,673,400  27,212,300  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 
Profitability Ratio
ROE1 9.56% 10.53% 9.94% 7.63% 7.69% 7.66% 9.40% 9.98% 9.81% 9.39% 9.45% 9.39% 8.95% 9.68% 11.10% 10.76% 14.00% 14.47% 14.17%
Benchmarks
ROE, Competitors2
Becton, Dickinson & Co. 5.13% 4.30% 5.85% 4.35% 5.06% 4.89% 1.48% 3.61% 0.22% 1.89% 8.50% 6.30% 16.51% 17.26% 12.79% 14.17% 10.57% 9.53% 9.70% 11.24% 15.07% 22.69%
Boston Scientific Corp. 25.53% 31.06% 33.87% 11.24% 14.81% 19.46% 19.15% 8.08% 6.73% 1.59% 1.48% 11.11% 10.89% 6.17% 5.15% 1.25% -5.55% -0.56% -3.78%
Intuitive Surgical Inc. 13.00% 16.30% 16.69% 16.93% 16.65% 16.33% 16.89% 12.68% 13.68% 13.97% 13.97% 18.21% 18.05% 18.88% 12.74% 13.03% 13.09% 13.22% 13.63%
Medtronic PLC 9.23% 8.78% 9.25% 9.87% 4.56% 6.30% 6.12% 5.59% 9.75% 8.12% 8.01% 8.03% 8.45% 7.18% 6.80% 4.79% 4.43% 4.97% 5.03%
Stryker Corp. 12.55% 16.50% 16.26% 27.82% 29.72% 30.12% 30.29% 12.54% 11.42% 11.06% 10.23% 17.06% 16.94% 17.41% 17.25% 17.78% 17.64% 18.36% 16.91%
Thermo Fisher Scientific Inc. 12.41% 12.85% 12.45% 12.24% 12.33% 11.46% 10.65% 9.55% 9.05% 8.62% 8.76% 9.42% 10.12% 9.96% 9.39% 9.21% 9.39% 9.52% 9.25%
UnitedHealth Group Inc. 26.87% 24.14% 24.02% 24.25% 24.46% 24.39% 23.19% 25.12% 24.56% 23.60% 22.10% 19.04% 18.79% 18.08% 18.33% 17.40% 16.98% 17.09% 17.18%

Based on: 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), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

1 Q2 2020 Calculation
ROE = 100 × (Net earnings attributable to Danaher stockholdersQ2 2020 + Net earnings attributable to Danaher stockholdersQ1 2020 + Net earnings attributable to Danaher stockholdersQ4 2019 + Net earnings attributable to Danaher stockholdersQ3 2019) ÷ Total Danaher stockholders’ equity
= 100 × (927,300 + 595,100 + 1,275,100 + 668,000) ÷ 36,261,700 = 9.56%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Danaher Corp.’s ROE improved from Q4 2019 to Q1 2020 but then deteriorated significantly from Q1 2020 to Q2 2020.

Return on Assets (ROA)

Danaher Corp., ROA calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data (US$ in thousands)
Net earnings attributable to Danaher stockholders 927,300  595,100  1,275,100  668,000  731,300  333,800  746,800  663,700  673,800  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 
Total assets 71,268,400  68,930,300  62,081,600  61,531,100  53,322,000  51,774,400  47,832,500  47,719,500  48,055,800  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 
Profitability Ratio
ROA1 4.86% 4.74% 4.85% 4.03% 4.64% 4.67% 5.54% 5.79% 5.55% 5.41% 5.34% 5.20% 4.82% 5.09% 5.64% 6.04% 6.81% 7.33% 6.96%
Benchmarks
ROA, Competitors2
Becton, Dickinson & Co. 2.01% 1.76% 2.38% 1.79% 2.05% 1.98% 0.58% 1.43% 0.08% 0.73% 2.92% 2.13% 5.45% 5.38% 3.81% 4.37% 3.09% 2.64% 2.59% 3.01% 3.81% 6.22%
Boston Scientific Corp. 12.93% 14.24% 15.38% 4.07% 5.74% 7.55% 7.96% 3.29% 2.66% 0.58% 0.55% 4.52% 4.29% 2.42% 1.92% 0.46% -1.93% -0.20% -1.32%
Intuitive Surgical Inc. 11.24% 14.02% 14.17% 14.39% 14.18% 13.93% 14.37% 10.88% 11.70% 11.95% 11.46% 15.99% 15.55% 16.21% 11.34% 11.69% 11.73% 11.84% 12.00%
Medtronic PLC 5.13% 4.84% 5.16% 5.54% 2.56% 3.53% 3.40% 2.93% 5.31% 4.10% 4.04% 4.07% 4.31% 3.70% 3.55% 2.37% 2.21% 2.51% 2.51%
Stryker Corp. 5.09% 7.35% 6.90% 12.85% 13.47% 13.58% 13.05% 5.60% 5.01% 4.60% 4.60% 8.28% 7.98% 8.23% 8.06% 8.22% 7.82% 8.22% 8.86%
Thermo Fisher Scientific Inc. 6.02% 6.25% 6.33% 6.33% 6.11% 5.71% 5.22% 4.66% 4.32% 3.98% 3.93% 4.16% 4.87% 4.70% 4.40% 4.16% 4.73% 4.64% 4.83%
UnitedHealth Group Inc. 8.88% 7.27% 7.96% 7.68% 7.77% 7.83% 7.87% 8.32% 7.67% 7.21% 7.59% 6.14% 5.87% 5.53% 5.71% 5.30% 5.17% 5.10% 5.22%

Based on: 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), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-23).

1 Q2 2020 Calculation
ROA = 100 × (Net earnings attributable to Danaher stockholdersQ2 2020 + Net earnings attributable to Danaher stockholdersQ1 2020 + Net earnings attributable to Danaher stockholdersQ4 2019 + Net earnings attributable to Danaher stockholdersQ3 2019) ÷ Total assets
= 100 × (927,300 + 595,100 + 1,275,100 + 668,000) ÷ 71,268,400 = 4.86%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Danaher Corp.’s ROA deteriorated from Q4 2019 to Q1 2020 but then improved from Q1 2020 to Q2 2020 exceeding Q4 2019 level.