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

Danaher Corp. (NYSE:DHR)

Enterprise Value (EV)

Intermediate level


Current Enterprise Value (EV)

Danaher Corp., current enterprise value calculation

Microsoft Excel LibreOffice Calc
Current share price (P) $177.16
No. shares of common stock outstanding 697,511,185
US$ in thousands
Common equity (market value)1 123,571,082 
Add: Preferred stock, without par value; 4.75% Mandatory Convertible Preferred Stock, Series A (per books) 1,599,600 
Add: Noncontrolling interests (per books) 11,300 
Total equity 125,181,982 
Add: Notes payable and current portion of long-term debt (per books) 212,400 
Add: Long-term debt, excluding current portion (per books) 21,516,700 
Total equity and debt 146,911,082 
Less: Cash and equivalents 19,912,300 
Enterprise value (EV) 126,998,782 

Based on: 10-K (filing date: 2020-02-21).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 177.16 × 697,511,185


Historical Enterprise Value (EV)

Danaher Corp., EV calculation

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Share price1, 2 $161.88 $112.43 $97.35 $84.80 $87.20
No. shares of common stock outstanding1 696,237,113 701,875,340 697,569,470 693,280,277 687,154,521
US$ in thousands
Common equity (market value)3 112,706,864  78,911,844  67,908,388  58,790,167  59,919,874 
Add: Preferred stock, without par value; 4.75% Mandatory Convertible Preferred Stock, Series A (book value) 1,599,600  —  —  —  — 
Add: Noncontrolling interests (book value) 11,300  12,300  9,600  74,000  73,700 
Total equity 114,317,764  78,924,144  67,917,988  58,864,167  59,993,574 
Add: Notes payable and current portion of long-term debt (book value) 212,400  51,800  194,700  2,594,800  845,200 
Add: Long-term debt, excluding current portion (book value) 21,516,700  9,688,500  10,327,400  9,674,200  12,025,200 
Total equity and debt 136,046,864  88,664,444  78,440,088  71,133,167  72,863,974 
Less: Cash and equivalents 19,912,300  787,800  630,300  963,700  790,800 
Enterprise value (EV) 116,134,564  87,876,644  77,809,788  70,169,467  72,073,174 

Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-22), 10-K (filing date: 2016-02-24).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of Danaher Corp.’s Annual Report.

3 2019 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 161.88 × 696,237,113

Item Description The company
EV Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments. Danaher Corp.’s EV increased from 2017 to 2018 and from 2018 to 2019.