Filing Flows › Danaher (DHR) › Q2 2026 › vs Q2 2025
Danaher (DHR) Q2 2026 vs Q2 2025 (year over year)
Danaher's revenue rose $329M (+6%) from $5.9B in Q2 2025 to $6.3B in Q2 2026. The biggest changes: Recurring revenue +$230M (+5%); Nonrecurring revenue +$99.0M (+10%). Gross margin 57.6% against 59.3% (-1.7 pts).
Danaher, Q2 2026: revenue $6.3B (+6% year over year), operating margin 18.0%, net earnings $870M, operating cash flow $1.5B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 57.6% | 59.3% | -1.7 pts |
| Operating margin | 18.0% | 12.8% | +5.2 pts |
| Net margin | 13.9% | 9.3% | +4.5 pts |
| Free cash flow margin | 20.2% | 18.4% | +1.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Recurring revenue | $5.2B | $5.0B | $230M | +5% |
| Nonrecurring revenue | $1.1B | $966M | $99.0M | +10% |
| Revenue | $6.3B | $5.9B | $329M | +6% |
| Gross profit | $3.6B | $3.5B | $88.0M | +2% |
| Cost of revenue | $2.7B | $2.4B | $241M | +10% |
| Operating profit | $1.1B | $760M | $367M | +48% |
| Operating expenses | $2.5B | $2.8B | −$279M | -10% |
| Pre-tax earnings | $1.1B | $655M | $423M | +65% |
| Other expense, net | $49.0M | $105M | −$56.0M | -53% |
| Research & development | $412M | $403M | $9.0M | +2% |
| SG&A | $2.1B | $2.4B | −$288M | -12% |
| Net earnings | $870M | $555M | $315M | +57% |
| Income tax | $208M | $100M | $108M | +108% |
| Depreciation & amortization | $659M | $611M | $48.0M | +8% |
| Share-based compensation | $93.0M | $91.0M | $2.0M | +2% |
| Working capital & other | $88.0M | −$81.0M | $169M | — |
| Operating cash flow | $1.5B | $1.3B | $196M | +15% |
| Free cash flow (OCF − capex) | $1.3B | $1.1B | $175M | +16% |
| Capital expenditures | $269M | $248M | $21.0M | +8% |
Questions
How much did Danaher's revenue grow year over year in Q2 2026?
Danaher's revenue rose $329M (+6%) from $5.9B in Q2 2025 to $6.3B in Q2 2026.
What drove Danaher's revenue change in Q2 2026?
Recurring revenue +$230M (+5%); Nonrecurring revenue +$99.0M (+10%).