Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Danaher Corp. (NYSE:DHR)

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Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Beginner level

Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Short-term Activity Ratios (Summary)

Danaher Corp., short-term (operating) activity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Turnover Ratios
Inventory turnover
Receivables turnover
Payables turnover
Working capital turnover
Average No. Days
Average inventory processing period
Add: Average receivable collection period
Operating cycle
Less: Average payables payment period
Cash conversion cycle

Based on: 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), 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).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Danaher Corp.’s inventory turnover ratio improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Receivables turnover An activity ratio equal to revenue divided by receivables. Danaher Corp.’s receivables turnover ratio improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Danaher Corp.’s payables turnover ratio increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Danaher Corp.’s working capital turnover ratio deteriorated from Q1 2020 to Q2 2020 but then slightly improved from Q2 2020 to Q3 2020.
Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Danaher Corp.’s number of days of inventory outstanding improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Danaher Corp.’s number of days of receivables outstanding improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Danaher Corp.’s operating cycle improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Danaher Corp.’s number of days of payables outstanding decreased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Danaher Corp.’s cash conversion cycle deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Inventory Turnover

Danaher Corp., inventory turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data (US$ in thousands)
Cost of sales
Inventories
Short-term Activity Ratio
Inventory turnover1
Benchmarks
Inventory Turnover, Competitors2
Becton, Dickinson & Co.
Boston Scientific Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.
Thermo Fisher Scientific Inc.

Based on: 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), 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 Q3 2020 Calculation
Inventory turnover = (Cost of salesQ3 2020 + Cost of salesQ2 2020 + Cost of salesQ1 2020 + Cost of salesQ4 2019) ÷ Inventories
= ( + + + ) ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Danaher Corp.’s inventory turnover ratio improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Receivables Turnover

Danaher Corp., receivables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data (US$ in thousands)
Sales
Trade accounts receivable, less allowance for doubtful accounts
Short-term Activity Ratio
Receivables turnover1
Benchmarks
Receivables Turnover, Competitors2
Becton, Dickinson & Co.
Boston Scientific Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.
Thermo Fisher Scientific Inc.
UnitedHealth Group Inc.

Based on: 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), 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 Q3 2020 Calculation
Receivables turnover = (SalesQ3 2020 + SalesQ2 2020 + SalesQ1 2020 + SalesQ4 2019) ÷ Trade accounts receivable, less allowance for doubtful accounts
= ( + + + ) ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Danaher Corp.’s receivables turnover ratio improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Payables Turnover

Danaher Corp., payables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data (US$ in thousands)
Cost of sales
Trade accounts payable
Short-term Activity Ratio
Payables turnover1
Benchmarks
Payables Turnover, Competitors2
Boston Scientific Corp.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.
Thermo Fisher Scientific Inc.
UnitedHealth Group Inc.

Based on: 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), 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 Q3 2020 Calculation
Payables turnover = (Cost of salesQ3 2020 + Cost of salesQ2 2020 + Cost of salesQ1 2020 + Cost of salesQ4 2019) ÷ Trade accounts payable
= ( + + + ) ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Danaher Corp.’s payables turnover ratio increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Working Capital Turnover

Danaher Corp., working capital turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data (US$ in thousands)
Current assets
Less: Current liabilities
Working capital
 
Sales
Short-term Activity Ratio
Working capital turnover1
Benchmarks
Working Capital Turnover, Competitors2
Becton, Dickinson & Co.
Boston Scientific Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.
Thermo Fisher Scientific Inc.
UnitedHealth Group Inc.

Based on: 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), 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 Q3 2020 Calculation
Working capital turnover = (SalesQ3 2020 + SalesQ2 2020 + SalesQ1 2020 + SalesQ4 2019) ÷ Working capital
= ( + + + ) ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Danaher Corp.’s working capital turnover ratio deteriorated from Q1 2020 to Q2 2020 but then slightly improved from Q2 2020 to Q3 2020.

Average Inventory Processing Period

Danaher Corp., average inventory processing period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data
Inventory turnover
Short-term Activity Ratio (no. days)
Average inventory processing period1
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Becton, Dickinson & Co.
Boston Scientific Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.
Thermo Fisher Scientific Inc.

Based on: 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), 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 Q3 2020 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Danaher Corp.’s number of days of inventory outstanding improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Average Receivable Collection Period

Danaher Corp., average receivable collection period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data
Receivables turnover
Short-term Activity Ratio (no. days)
Average receivable collection period1
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Becton, Dickinson & Co.
Boston Scientific Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.
Thermo Fisher Scientific Inc.
UnitedHealth Group Inc.

Based on: 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), 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 Q3 2020 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Danaher Corp.’s number of days of receivables outstanding improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Operating Cycle

Danaher Corp., operating cycle calculation (quarterly data)

No. days

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data
Average inventory processing period
Average receivable collection period
Short-term Activity Ratio
Operating cycle1
Benchmarks
Operating Cycle, Competitors2
Becton, Dickinson & Co.
Boston Scientific Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.
Thermo Fisher Scientific Inc.

Based on: 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), 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 Q3 2020 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= + =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Danaher Corp.’s operating cycle improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Average Payables Payment Period

Danaher Corp., average payables payment period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data
Payables turnover
Short-term Activity Ratio (no. days)
Average payables payment period1
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Boston Scientific Corp.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.
Thermo Fisher Scientific Inc.
UnitedHealth Group Inc.

Based on: 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), 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 Q3 2020 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Danaher Corp.’s number of days of payables outstanding decreased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Cash Conversion Cycle

Danaher Corp., cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data
Average inventory processing period
Average receivable collection period
Average payables payment period
Short-term Activity Ratio
Cash conversion cycle1
Benchmarks
Cash Conversion Cycle, Competitors2
Boston Scientific Corp.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.
Thermo Fisher Scientific Inc.

Based on: 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), 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 Q3 2020 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= + – =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Danaher Corp.’s cash conversion cycle deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.