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DHR trades against a final fair-value range of $122.72-$203.68, with the midpoint set by the accepted valuation synthesis rather than earlier draft model outputs. Fair value range: low $123, high $204, with mid-point at $163.
Stock analysis

DHR Danaher Corporation fair value $163–$204

DHR
By StockMarketAgent.AI team· supervised by
Analizado: 2026-05-10Próxima actualización: 2026-08-10Methodology v2.4Archetype: Mature compounderNYSE · Health Care
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Precio
$171.16
▼ -8.06 (-4.71%)
Valor razonable
$163
$163–$204
Calificación
Mantener
confidence 87/100
Potencial alcista
-4.7%
upside to fair value
Margen de seguridad
$138.63
buy below · 15%
Capitalización bursátil
$121.1B
P/E fwd 18.8
Respaldo en inglésES
Mostrando la fuente en inglés mientras traducimos
Este informe aún no se ha traducido. Actualice en unos minutos una vez que la cola de traducción se ponga al día.

§1 Resumen ejecutivo

  • Composite fair value $163 with high case $204.
  • Implied downside of 4.7% to fair value.
  • Moat 9/10 · confidence 87/100 · Mature compounder.
  • Trades close to fair value, so the margin of safety is limited either way.
Fair value
$163
Margin of safety
-4.9%
Confidence
87/100
Moat
9/10

Educational analysis only — not financial advice. Always do your own due diligence.

$171.16Price
FV $163.1
High $203.68

DHR trades against a final fair-value range of $122.72-$203.68, with the midpoint set by the accepted valuation synthesis rather than earlier draft model outputs.

  • Intangible Assets
    Intangible Assets
  • Switching Costs
    Switching Costs
  • Bull thesis
    Intrinsic valuation suggests downside risk.

§2 Caso bajista

Under severe bioprocessing market contraction and failed M&A execution, our pure intrinsic models force valuation toward the $114-$122 range. Margins revert below 19% as DBS efficiencies fail to offset volume deleverage, and the terminal multipleTerminal multipleThe exit P/E or EV/EBITDA we apply to the final year of an explicit forecast. Anchored to the business's long-run quality and the prevailing risk-free rate. contracts toward 15x as the compounding narrative breaks.

Cómo puede fallar esta tesis

Prolonged Bioprocessing Slump

· High

Extended pharma funding constraints and destocking cap revenue growth in low single-digits.

FV impact
-25%

M&A Integration Failure

· Medium

A major acquisition fails to realize DBS synergies, destroying ROIC and stalling margin expansion.

FV impact
-15%

China Market Deterioration

· Medium

Deepening macro weakness and localized competition in China structurally erode regional market share and profitability.

FV impact
-10%
Señales de alerta temprana a vigilar
MétricaActualUmbral de activación
Consumables growth turning negativeMonitorDeterioration versus the report thesis
Operating margin contracting below 19%MonitorDeterioration versus the report thesis
Unexplained delays in M&A integration milestonesMonitorDeterioration versus the report thesis
Rising days sales outstanding in emerging marketsMonitorDeterioration versus the report thesis
CapEx to depreciation ratio falling below 0.75MonitorDeterioration versus the report thesis

§3 Historial financiero

Cuenta de resultados — últimos seis períodos
ConceptoT−0T−1T−2T−3T−4CAGR
Período2021-12-312022-12-312023-12-312024-12-312025-12-31Trend
Ingresos$24.80B$26.64B$23.89B$23.88B$24.57B-0.2%
Beneficio bruto$15.24B$16.19B$14.03B$14.21B$14.52B-1.2%
Beneficio operativo$6.39B$7.54B$5.20B$4.86B$4.69B-7.4%
Beneficio neto$6.43B$7.21B$4.76B$3.90B$3.61B-13.4%
BPA (diluido)$9.66$6.38$5.29$5.05-15.0%
EBITDA$8.80B$9.48B$7.50B$7.28B$6.95B-5.8%
I+D$1.50B$1.53B$1.50B$1.58B$1.60B+1.6%
SG&A$6.81B$7.12B$7.33B$7.76B$8.24B+4.9%

Puntuaciones de calidad

Piotroski F-score
5 / 9
Compuesto de calidad 0–9
Altman Z-score
3.69
Riesgo de quiebra (>3 seguro)
Beneish M-score
-2.57
Riesgo de manipulación de beneficios
OCF / Beneficio neto
1.78×
>1 indica alta calidad de los beneficios
Umbral de calidad contable
Pass
Umbral ajustado por sector
ROIC
4.9%
Rentabilidad del capital invertido
Sección 3

Numbers analysis

Asignación de capital

Capital allocation should be evaluated against reinvestment needs, balance-sheet strength, and shareholder returns.

Suscriptores individuales — desde §411 secciones más

Leer el análisis completo — 11 secciones más.

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FAQ

DHR — frequently asked questions

  1. Based on our latest analysis, DHR trades close to fair value. The current price is $171 versus a composite fair-value midpoint of $163 (range $123–$204), which implies roughly 4.7% downside to the midpoint.
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