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Side-by-side financial comparison of Danaher Corporation (DHR) and Honeywell (HON). Click either name above to swap in a different company.
Honeywell is the larger business by last-quarter revenue ($9.1B vs $6.0B, roughly 1.5× Danaher Corporation). Danaher Corporation runs the higher net margin — 17.3% vs 8.7%, a 8.6% gap on every dollar of revenue. On growth, Danaher Corporation posted the faster year-over-year revenue change (3.7% vs 2.0%). Over the past eight quarters, Danaher Corporation's revenue compounded faster (1.8% CAGR vs -2.3%).
Danaher CorporationDHREarnings & Financial Report
Danaher Corporation is an American healthcare company headquartered in Washington, D.C.. It develops products used for advances in biotechnology, life sciences, and diagnostics. The company operates three divisions: biotechnology, which develops products for the development of therapeutics; life sciences, which develops products to identify causes of disease, new therapies, and to test and manufacture new drugs, vaccines and gene editing technologies; and diagnostics, which develops instruments,...
Honeywell International Inc. is an American publicly traded, multinational conglomerate corporation headquartered in Charlotte, North Carolina. It primarily operates in four areas of business: aerospace, building automation, industrial automation, and energy and sustainability solutions (ESS). Honeywell also owns and operates Sandia National Laboratories under contract with the U.S. Department of Energy. Honeywell is a Fortune 500 company, ranked 115th in 2023.
DHR vs HON — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $6.0B | $9.1B |
| Net Profit | $1.0B | $795.0M |
| Gross Margin | 60.3% | — |
| Operating Margin | 22.6% | 16.1% |
| Net Margin | 17.3% | 8.7% |
| Revenue YoY | 3.7% | 2.0% |
| Net Profit YoY | 7.9% | -43.3% |
| EPS (diluted) | $1.45 | $1.29 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $6.0B | $9.1B | ||
| Q4 25 | $6.8B | $6.9B | ||
| Q3 25 | $6.1B | $10.4B | ||
| Q2 25 | $5.9B | $10.4B | ||
| Q1 25 | $5.7B | $9.8B | ||
| Q4 24 | $6.5B | $10.1B | ||
| Q3 24 | $5.8B | $9.7B | ||
| Q2 24 | $5.7B | $9.6B |
| Q1 26 | $1.0B | $795.0M | ||
| Q4 25 | $1.2B | $-115.0M | ||
| Q3 25 | $908.0M | $1.8B | ||
| Q2 25 | $555.0M | $1.6B | ||
| Q1 25 | $954.0M | $1.4B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $818.0M | $1.4B | ||
| Q2 24 | $907.0M | $1.5B |
| Q1 26 | 60.3% | — | ||
| Q4 25 | 58.0% | 36.1% | ||
| Q3 25 | 58.2% | 31.1% | ||
| Q2 25 | 59.3% | 35.4% | ||
| Q1 25 | 61.2% | 35.2% | ||
| Q4 24 | 59.5% | 36.4% | ||
| Q3 24 | 58.7% | 35.1% | ||
| Q2 24 | 59.7% | 35.0% |
| Q1 26 | 22.6% | 16.1% | ||
| Q4 25 | 22.0% | 16.0% | ||
| Q3 25 | 19.1% | 23.1% | ||
| Q2 25 | 12.8% | 22.9% | ||
| Q1 25 | 22.2% | 23.0% | ||
| Q4 24 | 21.8% | 21.6% | ||
| Q3 24 | 16.5% | 23.6% | ||
| Q2 24 | 20.3% | 23.0% |
| Q1 26 | 17.3% | 8.7% | ||
| Q4 25 | 17.5% | -1.7% | ||
| Q3 25 | 15.0% | 17.5% | ||
| Q2 25 | 9.3% | 15.2% | ||
| Q1 25 | 16.6% | 14.8% | ||
| Q4 24 | 16.6% | 12.7% | ||
| Q3 24 | 14.1% | 14.5% | ||
| Q2 24 | 15.8% | 16.1% |
| Q1 26 | $1.45 | $1.29 | ||
| Q4 25 | $1.69 | $-0.17 | ||
| Q3 25 | $1.27 | $2.86 | ||
| Q2 25 | $0.77 | $2.45 | ||
| Q1 25 | $1.32 | $2.22 | ||
| Q4 24 | $1.50 | $1.96 | ||
| Q3 24 | $1.12 | $2.16 | ||
| Q2 24 | $1.22 | $2.36 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $12.4B |
| Total DebtLower is stronger | — | $32.1B |
| Stockholders' EquityBook value | — | — |
| Total Assets | — | $74.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $12.4B | ||
| Q4 25 | — | $12.9B | ||
| Q3 25 | — | $13.4B | ||
| Q2 25 | — | $10.7B | ||
| Q1 25 | — | $10.1B | ||
| Q4 24 | — | $11.0B | ||
| Q3 24 | — | $10.9B | ||
| Q2 24 | — | $9.8B |
| Q1 26 | — | $32.1B | ||
| Q4 25 | $18.4B | $27.1B | ||
| Q3 25 | $16.9B | $30.1B | ||
| Q2 25 | $17.4B | $30.2B | ||
| Q1 25 | $16.5B | $25.7B | ||
| Q4 24 | $16.0B | $25.5B | ||
| Q3 24 | $17.5B | $25.9B | ||
| Q2 24 | $17.0B | $20.9B |
| Q1 26 | — | — | ||
| Q4 25 | $52.5B | $13.9B | ||
| Q3 25 | $51.1B | $16.8B | ||
| Q2 25 | $52.3B | $16.1B | ||
| Q1 25 | $50.8B | $17.5B | ||
| Q4 24 | $49.5B | $18.6B | ||
| Q3 24 | $51.3B | $17.4B | ||
| Q2 24 | $49.9B | $16.9B |
| Q1 26 | — | $74.0B | ||
| Q4 25 | $83.5B | $73.7B | ||
| Q3 25 | $79.9B | $80.9B | ||
| Q2 25 | $81.6B | $78.4B | ||
| Q1 25 | $79.1B | $75.2B | ||
| Q4 24 | $77.5B | $75.2B | ||
| Q3 24 | $80.6B | $73.5B | ||
| Q2 24 | $78.6B | $69.3B |
| Q1 26 | — | — | ||
| Q4 25 | 0.35× | 1.95× | ||
| Q3 25 | 0.33× | 1.79× | ||
| Q2 25 | 0.33× | 1.87× | ||
| Q1 25 | 0.32× | 1.47× | ||
| Q4 24 | 0.32× | 1.37× | ||
| Q3 24 | 0.34× | 1.49× | ||
| Q2 24 | 0.34× | 1.23× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.3B | $0 |
| Free Cash FlowOCF − Capex | — | $56.0M |
| FCF MarginFCF / Revenue | — | 0.6% |
| Capex IntensityCapex / Revenue | 4.0% | 2.4% |
| Cash ConversionOCF / Net Profit | 1.28× | 0.00× |
| TTM Free Cash FlowTrailing 4 quarters | — | $5.1B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.3B | $0 | ||
| Q4 25 | $2.1B | $1.2B | ||
| Q3 25 | $1.7B | $3.3B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.3B | $597.0M | ||
| Q4 24 | $2.0B | $2.3B | ||
| Q3 24 | $1.5B | $2.0B | ||
| Q2 24 | $1.4B | $1.4B |
| Q1 26 | — | $56.0M | ||
| Q4 25 | $1.7B | $1.1B | ||
| Q3 25 | $1.4B | $2.9B | ||
| Q2 25 | $1.1B | $1.0B | ||
| Q1 25 | $1.1B | $346.0M | ||
| Q4 24 | $1.5B | $1.9B | ||
| Q3 24 | $1.2B | $1.7B | ||
| Q2 24 | $1.1B | $1.1B |
| Q1 26 | — | 0.6% | ||
| Q4 25 | 25.5% | 16.7% | ||
| Q3 25 | 22.6% | 28.0% | ||
| Q2 25 | 18.4% | 9.8% | ||
| Q1 25 | 18.4% | 3.5% | ||
| Q4 24 | 23.0% | 18.7% | ||
| Q3 24 | 21.0% | 17.7% | ||
| Q2 24 | 19.7% | 11.6% |
| Q1 26 | 4.0% | 2.4% | ||
| Q4 25 | 5.4% | 0.8% | ||
| Q3 25 | 4.8% | 3.6% | ||
| Q2 25 | 4.2% | 2.9% | ||
| Q1 25 | 4.3% | 2.6% | ||
| Q4 24 | 7.9% | 3.9% | ||
| Q3 24 | 5.1% | 2.9% | ||
| Q2 24 | 5.0% | 2.7% |
| Q1 26 | 1.28× | 0.00× | ||
| Q4 25 | 1.77× | — | ||
| Q3 25 | 1.83× | 1.80× | ||
| Q2 25 | 2.41× | 0.84× | ||
| Q1 25 | 1.36× | 0.41× | ||
| Q4 24 | 1.86× | 1.78× | ||
| Q3 24 | 1.85× | 1.41× | ||
| Q2 24 | 1.56× | 0.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DHR
Segment breakdown not available.
HON
| Aerospace Technologies | $4.3B | 47% |
| Building Automation | $1.9B | 21% |
| Process Automation and Technology | $1.5B | 17% |
| Industrial Automation | $1.4B | 16% |
| Corporate and All Other | $5.0M | 0% |
