DHR
Danaher Corporation (DHR)
Last Price$205.7(1.0%)
Market Cap$151.3B
DCF value
$144.5
Overvalued (DCF value)
(29.7%)
Discount Rate
7.4%
Long-Term Growth Rate
3.0%
Stock quality
6/10
Good

DHR DCF Model

Free Cash Flow to Firm Model
NOPAT Model
Free Cash Flow to Equity Model
Net Income Model
Millions
Billions
Dec'20 ActualDec'21 ActualDec'22 ActualDec'23 ActualDec'24 ActualDec'25 EstimateDec'26 EstimateDec'27 EstimateDec'28 EstimateDec'29 EstimateDec'30 EstimateDec'31 EstimateDec'32 EstimateDec'33 EstimateDec'34 EstimateDec'35 Terminal
% growth
22,284.0
24.4%
29,453.0
32.2%
31,471.0
6.9%
23,890.0
(24.1%)
23,875.0
(0.1%)
24,864.1
4.1%
26,669.3
7.3%
28,515.5
6.9%
30,204.2
5.9%
31,866.8
5.5%
33,488.0
5.1%
35,051.7
4.7%
36,542.2
4.3%
37,943.6
3.8%
39,240.3
3.4%
40,417.5
3.0%
4,231.0
19.0%
7,465.0
25.3%
8,688.0
27.6%
5,202.0
21.8%
4,863.0
20.4%
5,653.7
22.7%
6,064.2
22.7%
6,484.0
22.7%
6,867.9
22.7%
7,246.0
22.7%
7,614.6
22.7%
7,970.2
22.7%
8,309.1
22.7%
8,627.7
22.7%
8,922.6
22.7%
9,190.3
22.7%
NOPAT
% effective tax rate
3,431.9
15.4%
6,235.9
21.2%
7,553.3
24.0%
4,353.2
18.2%
4,081.1
17.1%
4,744.7
19.1%
5,089.1
19.1%
5,441.5
19.1%
5,763.7
19.1%
6,081.0
19.1%
6,390.3
19.1%
6,688.7
19.1%
6,973.1
19.1%
7,240.5
19.1%
7,488.0
19.1%
7,712.6
19.1%
% of revenue
1,775.0
8.0%
2,168.0
7.4%
2,132.0
6.8%
2,166.0
9.1%
0.0
0.0%
1,312.9
5.3%
1,408.2
5.3%
1,505.7
5.3%
1,594.9
5.3%
1,682.7
5.3%
1,768.3
5.3%
1,850.9
5.3%
1,929.6
5.3%
2,003.6
5.3%
2,072.0
5.3%
2,134.2
5.3%
% of revenue
(791.0)
(3.5%)
(1,294.0)
(4.4%)
(1,152.0)
(3.7%)
(1,383.0)
(5.8%)
(1,392.0)
(5.8%)
(1,266.4)
(5.1%)
(1,358.3)
(5.1%)
(1,452.4)
(5.1%)
(1,538.4)
(5.1%)
(1,623.1)
(5.1%)
(1,705.6)
(5.1%)
(1,785.3)
(5.1%)
(1,861.2)
(5.1%)
(1,932.6)
(5.1%)
(1,998.6)
(5.1%)
(2,058.6)
(5.1%)
605.0
2.7%
(658.0)
(2.2%)
(1,519.0)
(4.8%)
(393.0)
(1.6%)
266.0
1.1%
(444.0)
(1.8%)
(476.3)
(1.8%)
(509.2)
(1.8%)
(539.4)
(1.8%)
(569.1)
(1.8%)
(598.0)
(1.8%)
(626.0)
(1.8%)
(652.6)
(1.8%)
(677.6)
(1.8%)
(700.8)
(1.8%)
(721.8)
(1.8%)
Free Cash Flow to Firm (FCFF)
% of revenue
5,020.9
22.5%
6,451.9
21.9%
7,014.3
22.3%
4,743.2
19.9%
2,955.1
12.4%
4,347.1
17.5%
4,662.8
17.5%
4,985.5
17.5%
5,280.8
17.5%
5,571.5
17.5%
5,854.9
17.5%
6,128.3
17.5%
6,388.9
17.5%
6,633.9
17.5%
6,860.6
17.5%
7,066.4
17.5%
% of FCFF used in calculation
83.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
Discount period
0.50
1.50
2.50
3.50
4.50
5.50
6.50
7.50
8.50
9.50
Discount factor
0.96
0.90
0.84
0.78
0.73
0.68
0.63
0.59
0.55
0.51
Discounted FCFF (DFCFF)
3,482.2
4,189.4
4,170.9
4,113.6
4,041.2
3,954.2
3,853.8
3,741.0
3,616.9
3,482.9

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DHR DCF Value

DCF Value Calculation

as of Mar 03, 2025
Sum of DFCFF
% share of EV
38.6B
32.1%
Terminal Value (TV)
160.7B
Discounted TV
% share of EV
81.6B
67.9%
Total Debt
16.0B
Shares outstanding
735.7M
FX rate
1.0
29.7% overvalued

Equity Value Bridge

DHR DCF Financials

Revenue
$23.9B -> $39.2B 5.1% CAGR
Operating Income
$4,863.0M -> $8,922.6M 6.3% CAGR
FCFF
$2,955.1M -> $6,860.6M 8.8% CAGR

DHR DCF sensitivity

DCF value
Long-term Terminal growth rate
2.0%
2.5%
3.0%
3.5%
4.0%
WACC
6.0%
$168.0
$168.0
$168.0
$168.0
$168.0
6.5%
$153.0
$164.0
$164.0
$164.0
$164.0
7.4%
$124.0
$133.0
$144.0
$156.0
$156.0
7.5%
$121.0
$130.0
$141.0
$154.0
$155.0
8.0%
$109.0
$116.0
$125.0
$135.0
$148.0
DCF value, undervalued / overvalued
Long-term Terminal growth rate
2.0%
2.5%
3.0%
3.5%
4.0%
WACC
6.0%
(18.0%)
(18.0%)
(18.0%)
(18.0%)
(18.0%)
6.5%
(26.0%)
(20.0%)
(20.0%)
(20.0%)
(20.0%)
7.4%
(40.0%)
(35.0%)
(30.0%)
(24.0%)
(24.0%)
7.5%
(41.0%)
(37.0%)
(31.0%)
(25.0%)
(25.0%)
8.0%
(47.0%)
(44.0%)
(39.0%)
(34.0%)
(28.0%)

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FAQ

What is Danaher Corporation DCF (discounted cash flow) valuation?

As of Mar 03, 2025, Danaher Corporation's Discounted Cash Flow (DCF) valuation estimates its share price at $144.5. This suggests it may be overvalued by (29.7%) compared to its current price of around $205.7, using a WACC of 7.4% and growth rates of 3.0%.

What is Danaher Corporation WACC?

As of Mar 03, 2025, Danaher Corporation's Weighted Average Cost of Capital (WACC) is approximately 7.4%.

What is Danaher Corporation Enterprise Value?

As of Mar 03, 2025, Danaher Corporation's Enterprise Value (EV) is approximately $120.2B. This value reflects the company's total market capitalization plus debt, minus cash and cash equivalents, providing a comprehensive measure of its overall value in the market.