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Side-by-side financial comparison of Danaher Corporation (DHR) and McDonald's (MCD). Click either name above to swap in a different company.
McDonald's is the larger business by last-quarter revenue ($7.0B vs $6.0B, roughly 1.2× Danaher Corporation). McDonald's runs the higher net margin — 30.9% vs 17.3%, a 13.6% gap on every dollar of revenue. On growth, McDonald's posted the faster year-over-year revenue change (9.7% vs 3.7%). McDonald's produced more free cash flow last quarter ($1.6B vs $1.1B). Over the past eight quarters, McDonald's's revenue compounded faster (6.6% CAGR vs 1.8%).
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,...
McDonald's Corporation, doing business as McDonald's, is an American multinational fast food restaurant chain. As of 2024, it is the second-largest by number of locations in the world, behind the Chinese chain Mixue Ice Cream & Tea.
DHR vs MCD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.0B | $7.0B |
| Net Profit | $1.0B | $2.2B |
| Gross Margin | 60.3% | — |
| Operating Margin | 22.6% | 45.0% |
| Net Margin | 17.3% | 30.9% |
| Revenue YoY | 3.7% | 9.7% |
| Net Profit YoY | 7.9% | 7.3% |
| EPS (diluted) | $1.45 | $3.03 |
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 | — | ||
| Q4 25 | $6.8B | $7.0B | ||
| Q3 25 | $6.1B | $7.1B | ||
| Q2 25 | $5.9B | $6.8B | ||
| Q1 25 | $5.7B | $6.0B | ||
| Q4 24 | $6.5B | $6.4B | ||
| Q3 24 | $5.8B | $6.9B | ||
| Q2 24 | $5.7B | $6.5B |
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.2B | $2.2B | ||
| Q3 25 | $908.0M | $2.3B | ||
| Q2 25 | $555.0M | $2.3B | ||
| Q1 25 | $954.0M | $1.9B | ||
| Q4 24 | $1.1B | $2.0B | ||
| Q3 24 | $818.0M | $2.3B | ||
| Q2 24 | $907.0M | $2.0B |
| Q1 26 | 60.3% | — | ||
| Q4 25 | 58.0% | — | ||
| Q3 25 | 58.2% | 90.6% | ||
| Q2 25 | 59.3% | 90.4% | ||
| Q1 25 | 61.2% | 89.6% | ||
| Q4 24 | 59.5% | — | ||
| Q3 24 | 58.7% | 90.6% | ||
| Q2 24 | 59.7% | 90.3% |
| Q1 26 | 22.6% | — | ||
| Q4 25 | 22.0% | 45.0% | ||
| Q3 25 | 19.1% | 47.4% | ||
| Q2 25 | 12.8% | 47.2% | ||
| Q1 25 | 22.2% | 44.5% | ||
| Q4 24 | 21.8% | 44.9% | ||
| Q3 24 | 16.5% | 46.4% | ||
| Q2 24 | 20.3% | 45.0% |
| Q1 26 | 17.3% | — | ||
| Q4 25 | 17.5% | 30.9% | ||
| Q3 25 | 15.0% | 32.2% | ||
| Q2 25 | 9.3% | 32.9% | ||
| Q1 25 | 16.6% | 31.4% | ||
| Q4 24 | 16.6% | 31.6% | ||
| Q3 24 | 14.1% | 32.8% | ||
| Q2 24 | 15.8% | 31.2% |
| Q1 26 | $1.45 | — | ||
| Q4 25 | $1.69 | $3.03 | ||
| Q3 25 | $1.27 | $3.18 | ||
| Q2 25 | $0.77 | $3.14 | ||
| Q1 25 | $1.32 | $2.60 | ||
| Q4 24 | $1.50 | $2.80 | ||
| Q3 24 | $1.12 | $3.13 | ||
| Q2 24 | $1.22 | $2.80 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $774.0M |
| Total DebtLower is stronger | — | $40.0B |
| Stockholders' EquityBook value | — | $-1.8B |
| Total Assets | — | $59.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $774.0M | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $1.9B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $792.0M |
| Q1 26 | — | — | ||
| Q4 25 | $18.4B | $40.0B | ||
| Q3 25 | $16.9B | — | ||
| Q2 25 | $17.4B | — | ||
| Q1 25 | $16.5B | — | ||
| Q4 24 | $16.0B | $38.4B | ||
| Q3 24 | $17.5B | — | ||
| Q2 24 | $17.0B | — |
| Q1 26 | — | — | ||
| Q4 25 | $52.5B | $-1.8B | ||
| Q3 25 | $51.1B | $-2.2B | ||
| Q2 25 | $52.3B | $-2.8B | ||
| Q1 25 | $50.8B | $-3.5B | ||
| Q4 24 | $49.5B | $-3.8B | ||
| Q3 24 | $51.3B | $-5.2B | ||
| Q2 24 | $49.9B | $-4.8B |
| Q1 26 | — | — | ||
| Q4 25 | $83.5B | $59.5B | ||
| Q3 25 | $79.9B | $60.6B | ||
| Q2 25 | $81.6B | $59.6B | ||
| Q1 25 | $79.1B | $56.3B | ||
| Q4 24 | $77.5B | $55.2B | ||
| Q3 24 | $80.6B | $56.2B | ||
| Q2 24 | $78.6B | $53.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.35× | — | ||
| Q3 25 | 0.33× | — | ||
| Q2 25 | 0.33× | — | ||
| Q1 25 | 0.32× | — | ||
| Q4 24 | 0.32× | — | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | 0.34× | — |
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 | $2.7B |
| Free Cash FlowOCF − Capex | $1.1B | $1.6B |
| FCF MarginFCF / Revenue | 18.2% | 23.4% |
| Capex IntensityCapex / Revenue | 4.0% | 15.1% |
| Cash ConversionOCF / Net Profit | 1.28× | 1.25× |
| TTM Free Cash FlowTrailing 4 quarters | $5.3B | $7.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.3B | — | ||
| Q4 25 | $2.1B | $2.7B | ||
| Q3 25 | $1.7B | $3.4B | ||
| Q2 25 | $1.3B | $2.0B | ||
| Q1 25 | $1.3B | $2.4B | ||
| Q4 24 | $2.0B | $2.6B | ||
| Q3 24 | $1.5B | $2.7B | ||
| Q2 24 | $1.4B | $1.7B |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.7B | $1.6B | ||
| Q3 25 | $1.4B | $2.4B | ||
| Q2 25 | $1.1B | $1.3B | ||
| Q1 25 | $1.1B | $1.9B | ||
| Q4 24 | $1.5B | $1.8B | ||
| Q3 24 | $1.2B | $1.9B | ||
| Q2 24 | $1.1B | $1.1B |
| Q1 26 | 18.2% | — | ||
| Q4 25 | 25.5% | 23.4% | ||
| Q3 25 | 22.6% | 34.1% | ||
| Q2 25 | 18.4% | 18.3% | ||
| Q1 25 | 18.4% | 31.5% | ||
| Q4 24 | 23.0% | 28.6% | ||
| Q3 24 | 21.0% | 28.3% | ||
| Q2 24 | 19.7% | 16.3% |
| Q1 26 | 4.0% | — | ||
| Q4 25 | 5.4% | 15.1% | ||
| Q3 25 | 4.8% | 14.3% | ||
| Q2 25 | 4.2% | 10.9% | ||
| Q1 25 | 4.3% | 9.3% | ||
| Q4 24 | 7.9% | 12.6% | ||
| Q3 24 | 5.1% | 11.6% | ||
| Q2 24 | 5.0% | 9.7% |
| Q1 26 | 1.28× | — | ||
| Q4 25 | 1.77× | 1.25× | ||
| Q3 25 | 1.83× | 1.50× | ||
| Q2 25 | 2.41× | 0.89× | ||
| Q1 25 | 1.36× | 1.30× | ||
| Q4 24 | 1.86× | 1.30× | ||
| Q3 24 | 1.85× | 1.21× | ||
| Q2 24 | 1.56× | 0.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DHR
Segment breakdown not available.
MCD
| International Operated Markets | $3.6B | 51% |
| Other | $2.8B | 40% |
| International Developmental Licensed Marketsand Corporate | $633.0M | 9% |
