Filing Flows › Danaher (DHR) › Q3 2025
Danaher (DHR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 21, 2025
Danaher (DHR) reported revenue of $6.1B for the third quarter 2025 (Q3 2025), +4% from a year earlier and +2% from the quarter before. Operating margin was 19.1%, net earnings $908M (15.0% of revenue).
Danaher, Q3 2025: revenue $6.1B (+4% year over year), operating margin 19.1%, net earnings $908M, operating cash flow $1.7B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.1B | +2% | +4% |
| Gross profit | $3.5B | 0% | +4% |
| Operating profit | $1.2B | +52% | +20% |
| Net earnings | $908M | +64% | +11% |
| Operating cash flow | $1.7B | +24% | +10% |
| Free cash flow | $1.4B | +26% | +13% |
What changed
Revenue was $6.1B in Q3 2025, up 4% year over year and up 2% from the previous quarter. Recurring revenue was the largest line at 83% of revenue. Recurring revenue added $0.24B year over year (up 5%), 94% of the total change.
Gross margin was 58.2%, down 0.5 points from a year earlier. Operating profit was $1.2B, a 19.1% margin (up 2.5 points year over year). Of the extra revenue versus a year earlier, 77% reached operating profit, above the 17% margin then. Operating expenses fell 3% while revenue rose 4%. Net earnings were $0.91B, up 11% year over year. The effective tax rate was 15.6%.
Operating cash flow was $1.7B (up 10% year over year), 183% of net earnings. Non-cash charges added back $0.62B of depreciation and amortization and $0.08B of share-based compensation. Capital expenditures of $0.29B left free cash flow of $1.4B.
Questions
What was Danaher's revenue in the third quarter 2025?
Danaher (DHR) reported revenue of $6.1B for the third quarter 2025 (Q3 2025), +4% from a year earlier and +2% from the quarter before.
Was Danaher profitable in the third quarter 2025?
Operating profit was $1.2B (19.1% of revenue) and net earnings $908M.
Source: Danaher 10-Q on SEC EDGAR.