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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
Geanalyseerd: 2026-05-10Volgende update: 2026-08-10Methodology v2.4Archetype: Mature compounderNYSE · Health Care
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Koers
$171.16
▼ -8.06 (-4.71%)
Fair value
$163
$163–$204
Beoordeling
Aanhouden
confidence 87/100
Opwaarts potentieel
-4.7%
upside to fair value
Veiligheidsmarge
$138.63
buy below · 15%
Marktkapitalisatie
$121.1B
P/E fwd 18.8
Engelse bronNL
Engelse bron wordt weergegeven terwijl we vertalen
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§1 Samenvatting

  • 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 Berenscenario

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.

Hoe deze these kan breken

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%
Vroege waarschuwingssignalen om te volgen
MetriekHuidigTrigger-drempel
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 Financiële historie

Winst-en-verliesrekening — laatste zes perioden
PostT−0T−1T−2T−3T−4CAGR
Periode2021-12-312022-12-312023-12-312024-12-312025-12-31Trend
Omzet$24.80B$26.64B$23.89B$23.88B$24.57B-0.2%
Brutowinst$15.24B$16.19B$14.03B$14.21B$14.52B-1.2%
Bedrijfsresultaat$6.39B$7.54B$5.20B$4.86B$4.69B-7.4%
Nettowinst$6.43B$7.21B$4.76B$3.90B$3.61B-13.4%
WPA (verwaterd)$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%
VAA$6.81B$7.12B$7.33B$7.76B$8.24B+4.9%

Kwaliteitsscores

Piotroski F-score
5 / 9
0–9 kwaliteitscomposiet
Altman Z-score
3.69
Faillissementsrisico (>3 veilig)
Beneish M-score
-2.57
Risico op winstmanipulatie
OCF / Nettowinst
1.78×
>1 wijst op hoge winstkwaliteit
Drempel boekhoudkwaliteit
Pass
Sector-aangepaste drempel
ROIC
4.9%
Rendement op geïnvesteerd kapitaal
Sectie 3

Numbers analysis

Individuele abonnees — vanaf §411 extra secties

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

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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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