Danaher (DHR) Operating Margin (2009 - 2026)
Danaher (DHR) recorded Operating Margin of 17.99% in Q2 2026, up 5.19 percentage points from 12.80% a year earlier but down 4.60 percentage points from the prior quarter.
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Analysis
Danaher (DHR) Operating Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Danaher's Operating Margin came in at 20.42% as of Jun 26, 2026, up 2.03 percentage points year-over-year; for FY2025, it was 19.09%, down 1.28 percentage points from FY2024.
- Annual Operating Margin has declined for three straight years, though with a five-year change of +0.10 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at 20.37% in FY2024 (-1.41 pp), 21.77% in FY2023 (-6.51 pp), 28.29% in FY2022 (+2.57 pp) and 25.71% in FY2021 (+6.72 pp).
- Quarterly Operating Margin has ranged from 12.80% in Q2 2025 to 30.48% in Q4 2021 over the past five years.
- On a year-over-year basis, Operating Margin has increased for four consecutive quarters, with an average year-over-year change of -0.41 percentage points over the last eight quarters.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 8.49 percentage points in Q3 2022, against a drop of 9.30 percentage points in Q2 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at 22.58% (Q1 2026), 21.97% (Q4 2025) and 19.06% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 258.21 Bn | 258.21 Bn | - | - |
| 2 | Abbott Laboratories | 184.72 Bn | 184.72 Bn | - | - |
| 3 | Danaher | 163.63 Bn | 147.44 Bn | 3.61 Bn | 17.99% |
| 4 | Intuitive Surgical | 150.86 Bn | 131.14 Bn | 2.08 Bn | 19.44% |
| 5 | Medtronic | 123.68 Bn | 88.93 Bn | 6.34 Bn | 18.08% |
| 6 | Stryker | 111.91 Bn | 111.91 Bn | - | - |
| 7 | Boston Scientific | 61.64 Bn | 61.64 Bn | 3.43 Bn | - |
| 8 | Becton Dickinson | 54.28 Bn | 51.43 Bn | 2.32 Bn | 13.31% |
| 9 | Edwards Lifesciences | 53.21 Bn | 37.22 Bn | 1.35 Bn | 29.48% |
| 10 | Agilent Technologies | 49.54 Bn | 42.43 Bn | 1.04 Bn | 23.64% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 26, 2026 | 17.99% |
| Mar 27, 2026 | 22.58% |
| Dec 31, 2025 | 21.97% |
| Sep 26, 2025 | 19.06% |
| Jun 27, 2025 | 12.80% |
| Mar 28, 2025 | 22.19% |
| Dec 31, 2024 | 21.80% |
| Sep 27, 2024 | 16.52% |
| Jun 28, 2024 | 20.34% |
| Mar 29, 2024 | 22.64% |
| Dec 31, 2023 | 20.87% |
| Sep 29, 2023 | 21.07% |
| Jun 30, 2023 | 19.67% |
| Mar 31, 2023 | 25.50% |
| Dec 31, 2022 | 27.99% |
| Sep 30, 2022 | 26.60% |
| Jul 1, 2022 | 28.97% |
| Apr 1, 2022 | 29.59% |
| Dec 31, 2021 | 30.48% |
| Oct 1, 2021 | 18.11% |
API Access
Danaher Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=DHR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "DHR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=DHR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();