DHR · DEEP VALUE BRIEFING
DANAHER CORPORATION (DHR)
published Nov 14, 2026 · price now $233.02 · market cap $167B
Information only, not investment advice. Written by AI research agents from SEC filings and market data, and it can be wrong. Check the model below before relying on any of it.
The briefing text is not available right now. The model below is.
The model
Every input behind the value range, so you can check the work or change an assumption and redo it yourself. Computed deterministically from SEC filings (fiscal 2025), updated Nov 13, 2026; the market price was $233.02. Values are estimates, not predictions.
Owner earnings (Buffett)
Discounts owner earnings: the cash the business generates for its owners after the spending needed to keep it running.
Value per share: $74.78 / $106.83 / $116.00 (conservative / base / optimistic)
| Starting Owner Earnings | $5.7B |
| Growth: conservative / base / optimistic (2015–2025) | 2.0% / 2.0% / 2.5% |
| Projection | 10 years |
| Discount rate | 8.4% |
| Terminal growth | 2.5% |
| Shares outstanding | 707M |
The history the growth rates come from (15 years)
| 2011 | $2.6B |
| 2012 | $3.0B |
| 2013 | $3.0B |
| 2014 | $2.0B |
| 2015 | $2.2B |
| 2016 | $2.9B |
| 2017 | $2.7B |
| 2018 | $3.2B |
| 2019 | $3.3B |
| 2020 | $4.6B |
| 2021 | $6.3B |
| 2022 | $7.4B |
| 2023 | $5.2B |
| 2024 | $5.1B |
| 2025 | $5.3B |
Free cash flow
Discounts reported free cash flow: operating cash flow minus capital expenditure.
Value per share: $70.09 / $114.43 / $124.37 (conservative / base / optimistic)
| Starting Free Cash Flow | $5.4B |
| Growth: conservative / base / optimistic (2020–2025) | -8.5% / 0.8% / 2.5% |
| Projection | 10 years |
| Discount rate | 9.3% |
| Terminal growth | 4.5% |
| Shares outstanding | 707M |
The history the growth rates come from (15 years)
| 2011 | $2.2B |
| 2012 | $2.9B |
| 2013 | $2.9B |
| 2014 | $3.2B |
| 2015 | $3.2B |
| 2016 | $2.8B |
| 2017 | $2.8B |
| 2018 | $3.3B |
| 2019 | $3.2B |
| 2020 | $5.2B |
| 2021 | $6.9B |
| 2022 | $7.1B |
| 2023 | $5.5B |
| 2024 | $5.0B |
| 2025 | $5.0B |
Two-stage FCFF (Damodaran)
Projects revenue, operating margin and reinvestment, then discounts free cash flow to the firm at the weighted cost of capital.
Value per share: $24.94 / $27.67 / $43.69 (conservative / base / optimistic)
| Starting Damodaran FCFF | $4.0B |
| Growth: conservative / base / optimistic (2011–2025) | 0.1% / 3.1% / 12.2% |
| Projection | 10 years |
| Risk-free rate | 5.29% |
| Equity risk premium | 4.20% |
| Beta | 1.00 |
| Cost of equity | 9.49% |
| After-tax cost of debt | 1.70% |
| Equity weight | 88% |
| WACC (discount rate) | 8.57% |
| Target operating margin (base) | 17.1% |
| High-growth stage | 5 years |
| Terminal growth | 2.5% |
| Shares outstanding | 707M |
This briefing is from Nov 14, 2026. A fresh one re-reads the latest filings and prices; running it takes a free account.
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