Is Danaher Corporation overvalued?

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.

What is DHR's fair value?

Our composite fair-value range for DHR is $123–$204, with a midpoint of $163. The range is triangulated across multiple valuation models (discounted earnings, forward earnings scenarios, peer multiples, and where applicable owner earnings or reverse DCF) and weighted by reliability for Danaher Corporation's archetype.

Should I buy DHR now?

Our current rating for DHR is Hold with a confidence score of 87/100. DHR is rated Hold at $171.16 versus the reconciled fair value midpoint of $163.10, implying -4.71% upside/downside. Confidence is separately disclosed at 87/100. This is research for educational purposes, not personalized investment advice.

What are the biggest risks for DHR?

The top risks our latest report flags for Danaher Corporation are: Prolonged Bioprocessing Slump; M&A Integration Failure; China Market Deterioration. The single biggest risk is Consensus is overly optimistic on perpetual growth.

What is DHR's rating?

Our current rating for DHR is Hold, issued with a confidence score of 87/100 and a moat score of 9/10. The rating reflects the composite fair-value range ($123–$204) versus the current price of $171.

What archetype is DHR?

Danaher Corporation is classified as a mature compounder stock. Archetype determines how every downstream parameter — discount rate, terminal growth, deceleration curve, terminal multiple, scenario probability weights, scorecard weights, and which valuation models are prioritized — is calibrated for DHR.

Direct answer

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 byPeyman GhaderKourehpaz2026-05-10

Analysé: 2026-05-10Prochaine mise à jour: 2026-08-10Methodology v2.4Archetype: Mature compounderNYSE · Health Care

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Cours

$171.16

▼ -8.06 (-4.71%)

Juste valeur

$163

$163–$204

Notation

Conserver

confidence 87/100

Potentiel de hausse

-4.7%

upside to fair value

Marge de sécurité

$138.63

buy below · 15%

Capitalisation boursière

$121.1B

P/E fwd 18.8

Repli en anglaisFR

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§1 Résumé

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 Cas baissier

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 multiple contracts toward 15x as the compounding narrative breaks.

Comment cette thèse peut échouer

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%

Signaux d'alerte précoce à surveiller
Métrique	Actuel	Seuil de déclenchement
Consumables growth turning negative	Monitor	Deterioration versus the report thesis
Operating margin contracting below 19%	Monitor	Deterioration versus the report thesis
Unexplained delays in M&A integration milestones	Monitor	Deterioration versus the report thesis
Rising days sales outstanding in emerging markets	Monitor	Deterioration versus the report thesis
CapEx to depreciation ratio falling below 0.75	Monitor	Deterioration versus the report thesis

§3 Historique financier

Compte de résultat — six derniers exercices
Poste	T−0	T−1	T−2	T−3	T−4	TCAC
Période	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Chiffre d'affaires	$24.80B	$26.64B	$23.89B	$23.88B	$24.57B	-0.2%
Marge brute	$15.24B	$16.19B	$14.03B	$14.21B	$14.52B	-1.2%
Résultat d'exploitation	$6.39B	$7.54B	$5.20B	$4.86B	$4.69B	-7.4%
Résultat net	$6.43B	$7.21B	$4.76B	$3.90B	$3.61B	-13.4%
BPA (dilué)	—	$9.66	$6.38	$5.29	$5.05	-15.0%
EBITDA	$8.80B	$9.48B	$7.50B	$7.28B	$6.95B	-5.8%
R&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%

Scores de qualité

Piotroski F-score

5 / 9

Composite qualité 0–9

Altman Z-score

3.69

Risque de faillite (>3 sûr)

Beneish M-score

-2.57

Risque de manipulation des résultats

OCF / Résultat net

1.78×

>1 indique une qualité élevée des résultats

Seuil de qualité comptable

Pass

Seuil ajusté au secteur

ROIC

4.9%

Rendement du capital investi

§3

Numbers analysis

Flux de trésorerie

Cash-flow quality is reflected in the OCF / net income, accounting-quality, and ROIC rows above.

Allocation du capital

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

Abonnés individuels — à partir de §411 sections supplémentaires

Lire l'analyse complète — 11 sections supplémentaires.

Competitive moat, industry cycle, peer comparison, intrinsic valuation, sensitivity, scenarios, earnings decision tree, position management, investor perspectives, scorecard, and final recommendation.

Rapport complet pour chaque action couverte

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FAQ

DHR — frequently asked questions

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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