Filing Flows › Danaher (DHR) › Q4 2025
Danaher (DHR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 24, 2026
Danaher (DHR) reported revenue of $6.8B for the fourth quarter 2025 (Q4 2025), +5% from a year earlier and +13% from the quarter before. Operating margin was 22.0%, net earnings $1.2B (17.5% of revenue).
Danaher, Q4 2025: revenue $6.8B (+5% year over year), operating margin 22.0%, net earnings $1.2B, operating cash flow $2.1B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.8B | +13% | +5% |
| Gross profit | $4.0B | +13% | +2% |
| Operating profit | $1.5B | +30% | +5% |
| Net earnings | $1.2B | +32% | +10% |
| Operating cash flow | $2.1B | +27% | +5% |
| Free cash flow | $1.7B | +27% | +16% |
What changed
Revenue was $6.8B in Q4 2025, up 5% year over year and up 13% from the previous quarter. Recurring was the largest line at 78% of revenue.
Gross margin was 58.0%, down 1.5 points from a year earlier. Operating profit was $1.5B, a 22.0% margin (up 0.2 points year over year). Of the extra revenue versus a year earlier, 26% reached operating profit, above the 22% margin then. Operating expenses fell 0% while revenue rose 5%. Net earnings were $1.2B, up 10% year over year. The effective tax rate was 13.7%.
Operating cash flow was $2.1B (up 5% year over year), 177% of net earnings. Non-cash charges added back $0.62B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items added $0.23B. Capital expenditures of $0.37B left free cash flow of $1.7B.
Questions
What was Danaher's revenue in the fourth quarter 2025?
Danaher (DHR) reported revenue of $6.8B for the fourth quarter 2025 (Q4 2025), +5% from a year earlier and +13% from the quarter before.
Was Danaher profitable in the fourth quarter 2025?
Operating profit was $1.5B (22.0% of revenue) and net earnings $1.2B.
Source: Danaher 10-K on SEC EDGAR.