Danaher (DHR) FY2023 results: revenue $23.9 billion, down 10.3% on the year
Danaher Corp. (DHR) reported revenue of $23.9 billion for fiscal 2023, the year ended 31 December 2023, down 10.3% on the year before. Net income was $4.8 billion, down 33.9%, and diluted earnings per share $6.38. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2024.
Revenue
$23.9 billion
-10.3% on the year
FY2016FY2023
Operating margin
21.8%
28.3% a year earlier
FY2016FY2023
Net income
$4.8 billion
-33.9% on the year
FY2016FY2023
Diluted EPS
$6.38
-34.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
7,164
8,519
8,358
-15.9%
Capital expenditure
1,383
1,118
1,240
+23.7%
Free cash flow
5,781
7,401
7,118
-21.9%
Free cash flow margin
24.2%
27.8%
28.7%
Cash from investing
-7,081
-2,234
-12,987
Cash from financing
-273
-2,570
1,295
Depreciation and amortisation
2,166
2,132
2,062
+1.6%
Share-based compensation
306
295
184
+3.7%
Buybacks
0.0
0.0
n/a
Dividends paid
821
818
742
+0.4%
Diluted shares, weighted
743m
737m
737m
+0.8%
Shares outstanding at period end
739m
728m
715m
+1.5%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
53,486
50,082
45,167
+6.8%
Non-controlling interest
4.0
8.0
10.0
-50.0%
Debt
18,402
19,677
22,176
-6.5%
Operating lease liabilities
954
772
889
+23.6%
Other liabilities
11,642
13,811
14,942
-15.7%
Total liabilities and equity
84,488
84,350
83,184
+0.2%
Fixed assets
4,553
3,709
3,530
+22.8%
Goodwill
41,608
37,276
38,682
+11.6%
Intangible assets
20,746
19,821
22,843
+4.7%
Securities held for sale or to maturity
5.0
11.0
20.0
-54.5%
Cash and equivalents
5,864
5,995
2,586
-2.2%
Receivables
3,922
4,102
4,631
-4.4%
Inventory
2,594
2,765
2,767
-6.2%
Other assets
5,196
10,671
8,125
-51.3%
Total assets
84,488
84,350
83,184
+0.2%
10-K for the year ended 31 December 2023, filed 21 February 2024: the filing.