Danaher Corporation (NYSE: DHR) has released its fourth-quarter and full-year 2025 results, showcasing notable performance improvements. In the fourth quarter of 2025, the company reported net earnings of $1.2 billion, or $1.66 per diluted common share. Non-GAAP adjusted diluted net earnings per common share grew by 4.0% to $2.23. Additionally, revenues increased by 4.5% year-over-year to $6.8 billion, with non-GAAP core revenue also increasing by 2.5% year-over-year. Operating cash flow for the quarter was $2.1 billion, and non-GAAP free cash flow was $1.8 billion.
For the full year 2025, Danaher reported net earnings of $3.6 billion, or $5.03 per diluted common share. Non-GAAP adjusted diluted net earnings per common share grew 4.5% to $7.80. Revenues increased by 3.0% year-over-year to $24.6 billion, with non-GAAP core revenue increasing by 2.0% year-over-year. Operating cash flow for the year was $6.4 billion, and non-GAAP free cash flow was $5.3 billion.
Danaher also highlighted significant innovation achievements in 2025, including the launch of new products and solutions that strengthened its position as a trusted leader in life sciences and diagnostics. The company's various business segments, such as Cytiva, Sciex, and Beckman Coulter Diagnostics, introduced innovative offerings aimed at advancing biologic manufacturing, accelerating drug development timelines, and expanding diagnostic capabilities.
Rainer M. Blair, President and CEO of Danaher, expressed satisfaction with the company's performance, citing better-than-expected results across the portfolio. He particularly noted the continued strength in the bioprocessing business and improved momentum in diagnostics and life sciences.
Looking ahead to 2026, Danaher expects the gradual improvement in its end markets to continue, driven by its differentiated portfolio, the Danaher Business System, and the strength of its balance sheet. The company anticipates non-GAAP core revenue to increase in the low-single digit percent range year-over-year for the first quarter of 2026, and in the 3% to 6% range year-over-year for the full year 2026. Danaher is also initiating full-year adjusted diluted net earnings per common share guidance in the range of $8.35 to $8.50.
In conclusion, Danaher's 2025 results demonstrate its commitment to innovation and financial growth, setting the stage for continued value creation in the years to come.
As a result of these announcements, the company's shares have moved -1.63% on the market, and are now trading at a price of $235.99. For the full picture, make sure to review DANAHER CORP /DE/'s 8-K report.
