Danaher Corporation (DHR) Q3 2025 10-Q Quarterly Report
Filed: Oct 21, 2025Period ending Sep 26, 2025
Health Care
Industrial Instruments For Measurement, Display, and ControlSEC EDGAR Danaher Corporation (DHR) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 21, 2025 for the fiscal period ending Sep 26, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Danaher Corporation Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue $6.05B Q3 2025, up 4.5% YoY; Nine months $17.73B, up 2.5% YoY, driven by Biotechnology and Diagnostics growth
- • Operating margin 19.1% Q3 2025 vs 16.5% YoY (+260 bps); Nine months margin 18.0% vs 19.8% YoY (-180 bps) due to impairments
- • Best segment: Biotechnology sales $1.8B (+9.0% Q3), margin 19.6% vs 23.6% YoY; Worst: Life Sciences sales $1.79B (+0.5% Q3), margin 12.4% vs 2.0% YoY
- • Operating cash flow $4.3B nine months, down 8%; cash $1.5B; capital expenditures $785M; reduced stock repurchases $3.1B from $5.2B prior year
- • Tariff costs expected to rise by several hundred million in 2025; management expects to offset tariff impact but notes risks from supply chain and trade uncertainties
Risk Factors
- • New trade policy risk due to U.S. tariffs and retaliatory tariffs impacting supply costs and pricing competitiveness
- • Material update on tariffs includes August 2025 U.S. Court ruling against certain tariffs, pending U.S. Supreme Court review
- • Regulatory risk from reshoring policies, especially China promoting local medical device development affecting global supply chains
- • Operational risk from supply chain disruptions and product availability due to tariffs and export restrictions between U.S. and China
- • Financial risk from margin pressure when higher import costs are not fully or immediately recoverable through price increases
Danaher Corporation Q3 2025 Quarterly FinancialsXBRL
Revenue
$6.1B
▲ +4.4% YoY▲ +2.0% QoQ
Net Income
$908M
▲ +11.0% YoY▲ +63.6% QoQ
Gross Margin
58.2%
▼ -46bp YoY▼ -115bp QoQ
Operating Margin
19.1%
▲ +254bp YoY▲ +626bp QoQ
Net Margin
15.0%
▲ +89bp YoY▲ +565bp QoQ
ROE
1.8%
Total Assets
$79.9B
EPS (Diluted)
$1.27
▲ +13.4% YoY▲ +62.8% QoQ
Operating Cash Flow
$1.7B
▲ +9.8% YoY▲ +24.2% QoQ
Source: XBRL data from Danaher Corporation Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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