Danaher (DHR) Balance Sheet: Assets & Liabilities

Danaher (DHR) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Danaher reported total assets of $83.46B and total liabilities of $30.93B. Shareholders' equity was $52.53B, up 6.0% from $49.54B a year earlier. Total debt stood at $18.42B against $4.62B in cash and short-term investments, a net debt position of $13.80B. That puts debt-to-equity at 0.35, compared with 0.32 a year earlier.

Danaher Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Danaher Corporation (DHR) - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	4.62	2.08	5.86	6.00	2.59	6.04	19.91	0.79	0.63
Cash & Short-Term Investments	4.62	2.08	5.86	6.00	2.59	6.04	19.91	0.79	0.63
Accounts Receivable	3.91	3.54	4.64	4.10	5.44	4.81	3.27	3.11	3.52
Inventory	2.49	2.33	2.59	2.77	2.77	2.29	1.63	1.63	1.84
Other Current Assets	1.74	1.55	0.84	3.02	0.85	0.67	0.79	1.56	0.86
Total Current Assets	12.76	9.50	13.94	15.88	11.65	13.80	25.60	7.09	6.85
Non-Current Assets
Property, Plant & Equipment (Net)	6.75	4.99	5.61	3.71	4.83	4.20	3.07	2.25	2.45
Long-Term Investments	1.55	1.82	1.70	0.01	1.32	0.03	0.03	0.04	0.05
Goodwill	43.15	40.50	41.61	37.28	41.18	35.42	22.71	22.58	25.14
Intangible Assets	17.82	18.57	20.75	19.82	22.84	21.28	9.75	10.28	11.67
Other Non-Current Assets	1.45	3.99	0.90	7.66	1.36	1.43	0.92	5.59	0.49
Total Non-Current Assets	70.71	68.05	70.55	68.47	71.54	62.36	36.49	40.74	39.80
Total Assets	83.46	77.54	84.49	84.35	83.18	76.16	62.08	47.83	46.65
Current Liabilities
Accounts Payable	1.84	1.75	1.77	1.86	2.57	2.05	1.51	1.50	1.51
Short-Term Debt	0.00	0.51	1.88	0.59	0.22	0.20	0.37	0.05	0.19
Current Portion of Long-Term Debt	0.00	0.51	1.70	0.59	0.01	-	-	-	-
Accrued Liabilities	4.96	4.54	4.81	4.82	5.56	-	-	-	-
Deferred Revenue	0.00	1.30	1.47	1.46	1.61	1.21	0.69	0.63	0.67
Other Current Liabilities	4.96	1.08	2.59	1.13	3.04	3.39	2.00	2.38	2.04
Total Current Liabilities	6.81	6.80	8.27	8.39	8.14	7.40	4.93	4.84	4.79
Non-Current Liabilities
Long-Term Debt	18.42	15.50	17.66	19.09	23.06	21.98	22.17	9.69	10.33
Other Non-Current Liabilities	5.71	0.21	4.81	6.79	6.60	6.80	4.59	4.97	5.06
Total Non-Current Liabilities	24.12	21.19	22.72	25.87	29.87	28.98	26.87	14.76	15.49
Total Liabilities	30.93	27.99	31.00	34.26	38.01	36.38	31.80	19.61	20.28
Stockholders' Equity
Common Stock	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Retained Earnings	46.89	44.19	41.07	39.21	32.83	27.16	24.17	25.16	22.81
Accumulated Other Comprehensive Income	-0.21	-3.22	-1.75	-2.87	-1.03	-0.37	-3.07	-2.79	-1.99
Treasury Stock	11.35	8.16	2.02	-	-	-	-	-	-
Additional Paid-in Capital	5.84	16.73	14.15	12.07	10.09	9.70	7.56	5.83	5.54
Minority Interest	0.01	0.01	0.00	0.01	0.01	0.01	0.01	0.01	0.01
Shares Outstanding	0.71	0.72	0.74	0.73	0.72	-	-	-	-
Total Stockholders' Equity	52.53	49.54	53.49	50.09	45.17	39.77	30.27	28.21	26.36
Total Liabilities & Equity	83.46	77.54	84.49	84.35	83.18	76.16	62.08	47.83	46.65

Source: Company financial statements from annual and quarterly filings. Data as of Sep 25, 2026. Data sources and methodology

Frequently Asked Questions About Danaher Balance Sheet

How much debt does Danaher have?

Danaher had total debt of $18.42B as of Dec 31, 2025, against $4.62B in cash and short-term investments. Its debt-to-equity ratio was 0.35. Total debt was $16.00B a year earlier.

What are Danaher's total assets?

Danaher reported total assets of $83.46B as of Dec 31, 2025, up 7.6% from $77.54B a year earlier. Total liabilities were $30.93B.

What is Danaher's shareholders' equity?

Danaher's shareholders' equity was $52.53B as of Dec 31, 2025, or about $74.32 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition