Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.9B | $15.5B | $17.0B | $17.9B | $22.3B | $24.8B | $26.6B | $23.9B | $23.9B | $24.6B |
| Revenue growth | — | -8.1% | 9.9% | 5.1% | 24.4% | 11.3% | 7.4% | -10.3% | -0.1% | 2.9% |
| Gross profit | $9.33B | $8.57B | $9.51B | $9.98B | $12.5B | $15.2B | $16.2B | $14.0B | $14.2B | $14.5B |
| Gross margin | 55.3% | 55.2% | 55.8% | 55.7% | 56.0% | 61.4% | 60.8% | 58.7% | 59.5% | 59.1% |
| Operating income | $2.74B | $2.57B | $3.06B | $3.27B | $4.23B | $6.38B | $7.54B | $5.20B | $4.86B | $4.69B |
| Operating margin | 16.2% | 16.6% | 17.9% | 18.3% | 19.0% | 25.7% | 28.3% | 21.8% | 20.4% | 19.1% |
| Net income | $2.55B | $2.49B | $2.65B | $3.01B | $3.65B | $6.43B | $7.21B | $4.76B | $3.90B | $3.61B |
| Net margin | 15.1% | 16.1% | 15.5% | 16.8% | 16.4% | 25.9% | 27.1% | 19.9% | 16.3% | 14.7% |
| EPS (diluted) | $3.65 | $3.53 | $3.74 | $4.05 | $4.89 | $8.61 | $9.66 | $6.38 | $5.29 | $5.05 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.52B | $3.48B | $4.02B | $3.95B | $6.21B | $8.36B | $8.52B | $7.16B | $6.69B | $6.42B |
| Capital expenditures | $590M | $571M | $584M | $636M | $791M | $1.24B | $1.12B | $1.38B | $1.39B | $1.16B |
| Free cash flow | $2.93B | $2.91B | $3.44B | $3.32B | $5.42B | $7.12B | $7.40B | $5.78B | $5.30B | $5.26B |
| Share buybacks | — | — | — | — | — | — | $0.00 | $0.00 | $5.98B | $3.09B |
| Dividends paid | $400M | $378M | $433M | $527M | $615M | $742M | $818M | $821M | $768M | $878M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $964M | $630M | $788M | $19.9B | $6.04B | $2.59B | $6.00B | $5.86B | $2.08B | $4.62B |
| Total assets | $45.3B | $46.6B | $47.8B | $62.1B | $76.2B | $83.2B | $84.3B | $84.5B | $77.5B | $83.5B |
| Long-term debt | $9.67B | $10.3B | $9.69B | $21.5B | $21.2B | $22.2B | $19.1B | $16.7B | $15.5B | $18.4B |
| Shareholders' equity | $23.0B | $26.4B | $28.2B | $30.3B | $39.8B | $45.2B | $50.1B | $53.5B | $49.5B | $52.5B |
| Retained earnings | $20.7B | $22.8B | $25.2B | $24.2B | $27.2B | $32.8B | $39.2B | $41.1B | $44.2B | $46.9B |
| Shares (wtd avg diluted) | 700M | 706M | 710M | 726M | 719M | 737M | 737M | 743M | 737M | 716M |
Every figure is extracted from DANAHER CORP /DE/’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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