---
title: Danaher (DHR) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/dhr
ticker: DHR
as_of: 2026-10-17
sector: Healthcare
industry: Medical - Diagnostics & Research
---
# Danaher (DHR)

Danaher (DHR) closed at $229.04 on Oct 16, 2026, overvalued by 59% vs its model value of $143.75 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $229.04 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $143.75 |
| Price vs model | overvalued by 59% vs model |
| Range of that model | $88.59 – $346.91 |
| Market value | $161.0B |
| P/E (fiscal 2025) | 45.4 |
| Net margin (fiscal 2025) | 14.7% |
| Free cash flow (fiscal 2025) | $5.3B |
| Dividend yield (trailing twelve months) | 0.66% |
| Beta | 0.80 |
| Cost of capital (WACC) | 8.22% |
| Business classification | Mature & Stable (Low/slowing growth (~1% recent), Moderate margins (15% net margin), Highly cyclical earnings) |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 0.66% |
| Dividends per share, last 12 months | $1.52 |
| Dividends / free cash flow (fiscal 2025) | 16.7% |
| Raised | 12 years in a row |
| Growth over 5 years | 16.2% a year |
| Latest payment | $0.40, ex-date Sep 30, 2026, paid Oct 30, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Sep 29, 2021 | $0.72 |
| To Sep 29, 2022 | $0.85 |
| To Oct 11, 2023 | $0.97 |
| To Sep 27, 2024 | $1.05 |
| To Sep 26, 2025 | $1.23 |
| Trailing twelve months (to Sep 30, 2026) | $1.52 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $143.75 | $88.59 | $346.91 |
| DCF · Perpetuity growth · 10y | cross check | $154.12 | $98.11 | $357.10 |
| DCF · EBITDA exit · 5y | cross check | $231.14 | $175.03 | $296.84 |
| DCF · EBITDA exit · 10y | cross check | $227.00 | $164.05 | $309.80 |
| P/E · peers | cross check | $216.68 | $180.51 | $242.68 |
| P/E · own history | cross check | $249.09 | $179.49 | $271.68 |
| PEG | sanity check | $173.32 | $173.32 | $173.32 |
| EV/EBITDA · peers | cross check | $237.58 | $197.34 | $279.76 |
| EV/Revenue · peers | cross check | $202.79 | $158.85 | $262.41 |
| Earnings power value | cross check | $48.27 | $37.84 | $63.34 |
| Dividend discount | cross check | $34.78 | $23.44 | $59.19 |

## Insider activity (SEC Form 4)

Past 90 days: 0 open-market buys ($0) and 3 open-market sales ($12.7M); 10b5-1 plan sales included.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Oct 9, 2026 | RALES MITCHELL P | Chairman of Exec. Committee | Disposition to issuer | 500,000 | $0 |
| Oct 9, 2026 | RALES STEVEN M | Chairman | Disposition to issuer | 500,000 | $0 |
| Aug 21, 2026 | Blair Rainer | President & CEO | Open-market sell | 11,307 | $2.5M |
| Aug 21, 2026 | Blair Rainer | President & CEO | Open-market sell | 39,193 | $8.6M |
| Aug 21, 2026 | Blair Rainer | President & CEO | Open-market sell | 7,755 | $1.7M |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Oct 13, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers; 8.01 Other Events | https://www.sec.gov/Archives/edgar/data/313616/000031361626000193/dhr-20261009.htm |
| Aug 3, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers; 7.01 Regulation FD Disclosure; 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/313616/000119312526330652/d161342d8k.htm |
| Jul 21, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/313616/000031361626000163/dhr-20260721.htm |
| Jul 21, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/313616/000031361626000161/dhr-20260626.htm |
| Jun 9, 2026 | S-8 | Employee stock plan registration | https://www.sec.gov/Archives/edgar/data/313616/000119312526262719/d129292ds8.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Pat Dorsey | 2026-06-30 | 626,211 | $119.3M |
| First Pacific Advisors | 2026-06-30 | 564,781 | $107.6M |
| Loeb | 2026-06-30 | 540,000 | $102.9M |
| Wallace Weitz | 2026-06-30 | 489,500 | $93.2M |

14 tracked managers in all.

## About

Danaher Corporation is a diversified global technology and science company that specializes in developing, manufacturing, and distributing a wide array of professional, medical, industrial, and commercial products and services across the world. The organization is structured into three primary operating segments: Life Sciences, Diagnostics, and Environmental & Applied Solutions. Within the Life Sciences segment, Danaher provides advanced instrumentation and solutions crucial for scientific research and development. This encompasses equipment like mass spectrometers, flow cytometry, genomics, lab automation, centrifugation, particle counting and characterization tools, and microscopes, alongside genomics consumables and technologies vital for Gene and Cell Therapy. Additionally, it delivers bioprocess technologies, consumables, and related services, as well as sophisticated filtration, se…

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Source: https://sweetvaluelab.com/stocks/dhr (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.