vs
Side-by-side financial comparison of Danaher Corporation (DHR) and Smurfit Westrock (SW). Click either name above to swap in a different company.
Smurfit Westrock is the larger business by last-quarter revenue ($7.6B vs $6.0B, roughly 1.3× Danaher Corporation). Danaher Corporation runs the higher net margin — 17.3% vs 1.3%, a 16.0% gap on every dollar of revenue. On growth, Danaher Corporation posted the faster year-over-year revenue change (3.7% vs 0.5%). Danaher Corporation produced more free cash flow last quarter ($1.1B vs $612.0M). Over the past eight quarters, Smurfit Westrock's revenue compounded faster (60.8% 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,...
Smurfit Westrock plc is an Irish company based in Dublin, Ireland that manufactures corrugated and paper-based packaging. Its stock is listed on the New York Stock Exchange and the London Stock Exchange.
DHR vs SW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.0B | $7.6B |
| Net Profit | $1.0B | $97.0M |
| Gross Margin | 60.3% | 18.2% |
| Operating Margin | 22.6% | 5.1% |
| Net Margin | 17.3% | 1.3% |
| Revenue YoY | 3.7% | 0.5% |
| Net Profit YoY | 7.9% | -33.6% |
| EPS (diluted) | $1.45 | $0.18 |
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 | $7.6B | ||
| Q3 25 | $6.1B | $8.0B | ||
| Q2 25 | $5.9B | $7.9B | ||
| Q1 25 | $5.7B | $7.7B | ||
| Q4 24 | $6.5B | $7.5B | ||
| Q3 24 | $5.8B | $7.7B | ||
| Q2 24 | $5.7B | $3.0B |
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.2B | $97.0M | ||
| Q3 25 | $908.0M | $246.0M | ||
| Q2 25 | $555.0M | $-28.0M | ||
| Q1 25 | $954.0M | $384.0M | ||
| Q4 24 | $1.1B | $146.0M | ||
| Q3 24 | $818.0M | $-150.0M | ||
| Q2 24 | $907.0M | $132.0M |
| Q1 26 | 60.3% | — | ||
| Q4 25 | 58.0% | 18.2% | ||
| Q3 25 | 58.2% | 19.6% | ||
| Q2 25 | 59.3% | 19.1% | ||
| Q1 25 | 61.2% | 20.6% | ||
| Q4 24 | 59.5% | 19.1% | ||
| Q3 24 | 58.7% | 17.6% | ||
| Q2 24 | 59.7% | 23.3% |
| Q1 26 | 22.6% | — | ||
| Q4 25 | 22.0% | 5.1% | ||
| Q3 25 | 19.1% | 6.6% | ||
| Q2 25 | 12.8% | 3.2% | ||
| Q1 25 | 22.2% | 7.2% | ||
| Q4 24 | 21.8% | 5.3% | ||
| Q3 24 | 16.5% | 0.7% | ||
| Q2 24 | 20.3% | 8.2% |
| Q1 26 | 17.3% | — | ||
| Q4 25 | 17.5% | 1.3% | ||
| Q3 25 | 15.0% | 3.1% | ||
| Q2 25 | 9.3% | -0.4% | ||
| Q1 25 | 16.6% | 5.0% | ||
| Q4 24 | 16.6% | 1.9% | ||
| Q3 24 | 14.1% | -2.0% | ||
| Q2 24 | 15.8% | 4.4% |
| Q1 26 | $1.45 | — | ||
| Q4 25 | $1.69 | $0.18 | ||
| Q3 25 | $1.27 | $0.47 | ||
| Q2 25 | $0.77 | $-0.05 | ||
| Q1 25 | $1.32 | $0.73 | ||
| Q4 24 | $1.50 | $-0.12 | ||
| Q3 24 | $1.12 | $-0.30 | ||
| Q2 24 | $1.22 | $0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $892.0M |
| Total DebtLower is stronger | — | $13.4B |
| Stockholders' EquityBook value | — | $18.3B |
| Total Assets | — | $45.2B |
| Debt / EquityLower = less leverage | — | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $892.0M | ||
| Q3 25 | — | $851.0M | ||
| Q2 25 | — | $778.0M | ||
| Q1 25 | — | $797.0M | ||
| Q4 24 | — | $855.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $26.8K |
| Q1 26 | — | — | ||
| Q4 25 | $18.4B | $13.4B | ||
| Q3 25 | $16.9B | $13.3B | ||
| Q2 25 | $17.4B | $13.3B | ||
| Q1 25 | $16.5B | $12.9B | ||
| Q4 24 | $16.0B | $12.5B | ||
| Q3 24 | $17.5B | $13.2B | ||
| Q2 24 | $17.0B | — |
| Q1 26 | — | — | ||
| Q4 25 | $52.5B | $18.3B | ||
| Q3 25 | $51.1B | $18.4B | ||
| Q2 25 | $52.3B | $18.3B | ||
| Q1 25 | $50.8B | $17.9B | ||
| Q4 24 | $49.5B | $17.4B | ||
| Q3 24 | $51.3B | $18.0B | ||
| Q2 24 | $49.9B | $14.5K |
| Q1 26 | — | — | ||
| Q4 25 | $83.5B | $45.2B | ||
| Q3 25 | $79.9B | $45.6B | ||
| Q2 25 | $81.6B | $45.7B | ||
| Q1 25 | $79.1B | $44.6B | ||
| Q4 24 | $77.5B | $43.8B | ||
| Q3 24 | $80.6B | $45.0B | ||
| Q2 24 | $78.6B | $26.8K |
| Q1 26 | — | — | ||
| Q4 25 | 0.35× | 0.73× | ||
| Q3 25 | 0.33× | 0.72× | ||
| Q2 25 | 0.33× | 0.73× | ||
| Q1 25 | 0.32× | 0.72× | ||
| Q4 24 | 0.32× | 0.72× | ||
| Q3 24 | 0.34× | 0.73× | ||
| 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 | $1.2B |
| Free Cash FlowOCF − Capex | $1.1B | $612.0M |
| FCF MarginFCF / Revenue | 18.2% | 8.1% |
| Capex IntensityCapex / Revenue | 4.0% | 7.7% |
| Cash ConversionOCF / Net Profit | 1.28× | 12.32× |
| TTM Free Cash FlowTrailing 4 quarters | $5.3B | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.3B | — | ||
| Q4 25 | $2.1B | $1.2B | ||
| Q3 25 | $1.7B | $1.1B | ||
| Q2 25 | $1.3B | $829.0M | ||
| Q1 25 | $1.3B | $235.0M | ||
| Q4 24 | $2.0B | $781.0M | ||
| Q3 24 | $1.5B | $320.0M | ||
| Q2 24 | $1.4B | $340.0M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.7B | $612.0M | ||
| Q3 25 | $1.4B | $523.0M | ||
| Q2 25 | $1.1B | $307.0M | ||
| Q1 25 | $1.1B | $-242.0M | ||
| Q4 24 | $1.5B | $212.0M | ||
| Q3 24 | $1.2B | $-192.0M | ||
| Q2 24 | $1.1B | $163.0M |
| Q1 26 | 18.2% | — | ||
| Q4 25 | 25.5% | 8.1% | ||
| Q3 25 | 22.6% | 6.5% | ||
| Q2 25 | 18.4% | 3.9% | ||
| Q1 25 | 18.4% | -3.2% | ||
| Q4 24 | 23.0% | 2.8% | ||
| Q3 24 | 21.0% | -2.5% | ||
| Q2 24 | 19.7% | 5.5% |
| Q1 26 | 4.0% | — | ||
| Q4 25 | 5.4% | 7.7% | ||
| Q3 25 | 4.8% | 7.6% | ||
| Q2 25 | 4.2% | 6.6% | ||
| Q1 25 | 4.3% | 6.2% | ||
| Q4 24 | 7.9% | 7.5% | ||
| Q3 24 | 5.1% | 6.7% | ||
| Q2 24 | 5.0% | 6.0% |
| Q1 26 | 1.28× | — | ||
| Q4 25 | 1.77× | 12.32× | ||
| Q3 25 | 1.83× | 4.61× | ||
| Q2 25 | 2.41× | — | ||
| Q1 25 | 1.36× | 0.61× | ||
| Q4 24 | 1.86× | 5.35× | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 1.56× | 2.58× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DHR
Segment breakdown not available.
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
