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Side-by-side financial comparison of Danaher Corporation (DHR) and Stryker Corporation (SYK). Click either name above to swap in a different company.
Stryker Corporation is the larger business by last-quarter revenue ($7.2B vs $6.0B, roughly 1.2× Danaher Corporation). Danaher Corporation runs the higher net margin — 17.3% vs 11.8%, a 5.5% gap on every dollar of revenue. On growth, Stryker Corporation posted the faster year-over-year revenue change (11.4% vs 3.7%). Stryker Corporation produced more free cash flow last quarter ($1.9B vs $1.1B). Over the past eight quarters, Stryker Corporation's revenue compounded faster (16.9% 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,...
The Stryker is a family of eight-wheeled armored fighting vehicles derived from the Canadian LAV III, which in turn derived from the Swiss Mowag Piranha. Stryker vehicles are produced by General Dynamics Land Systems-Canada (GDLS-C) for the United States Army in a plant in London, Ontario. It has four-wheel drive (8×4) and can be switched to all-wheel drive (8×8).
DHR vs SYK — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.0B | $7.2B |
| Net Profit | $1.0B | $849.0M |
| Gross Margin | 60.3% | 64.5% |
| Operating Margin | 22.6% | 25.2% |
| Net Margin | 17.3% | 11.8% |
| Revenue YoY | 3.7% | 11.4% |
| Net Profit YoY | 7.9% | 55.5% |
| EPS (diluted) | $1.45 | $2.20 |
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 | $7.2B | ||
| Q3 25 | $6.1B | $6.1B | ||
| Q2 25 | $5.9B | $6.0B | ||
| Q1 25 | $5.7B | $5.9B | ||
| Q4 24 | $6.5B | $6.4B | ||
| Q3 24 | $5.8B | $5.5B | ||
| Q2 24 | $5.7B | $5.4B |
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.2B | $849.0M | ||
| Q3 25 | $908.0M | $859.0M | ||
| Q2 25 | $555.0M | $884.0M | ||
| Q1 25 | $954.0M | $654.0M | ||
| Q4 24 | $1.1B | $546.0M | ||
| Q3 24 | $818.0M | $834.0M | ||
| Q2 24 | $907.0M | $825.0M |
| Q1 26 | 60.3% | — | ||
| Q4 25 | 58.0% | 64.5% | ||
| Q3 25 | 58.2% | 63.6% | ||
| Q2 25 | 59.3% | 63.8% | ||
| Q1 25 | 61.2% | 63.8% | ||
| Q4 24 | 59.5% | 64.9% | ||
| Q3 24 | 58.7% | 64.0% | ||
| Q2 24 | 59.7% | 63.0% |
| Q1 26 | 22.6% | — | ||
| Q4 25 | 22.0% | 25.2% | ||
| Q3 25 | 19.1% | 18.7% | ||
| Q2 25 | 12.8% | 18.5% | ||
| Q1 25 | 22.2% | 14.3% | ||
| Q4 24 | 21.8% | 9.0% | ||
| Q3 24 | 16.5% | 19.7% | ||
| Q2 24 | 20.3% | 19.4% |
| Q1 26 | 17.3% | — | ||
| Q4 25 | 17.5% | 11.8% | ||
| Q3 25 | 15.0% | 14.2% | ||
| Q2 25 | 9.3% | 14.7% | ||
| Q1 25 | 16.6% | 11.1% | ||
| Q4 24 | 16.6% | 8.5% | ||
| Q3 24 | 14.1% | 15.2% | ||
| Q2 24 | 15.8% | 15.2% |
| Q1 26 | $1.45 | — | ||
| Q4 25 | $1.69 | $2.20 | ||
| Q3 25 | $1.27 | $2.22 | ||
| Q2 25 | $0.77 | $2.29 | ||
| Q1 25 | $1.32 | $1.69 | ||
| Q4 24 | $1.50 | $1.41 | ||
| Q3 24 | $1.12 | $2.16 | ||
| Q2 24 | $1.22 | $2.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $4.0B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $22.4B |
| Total Assets | — | $47.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $4.0B | ||
| Q3 25 | — | $3.3B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | — | $3.9B | ||
| Q2 24 | — | $1.9B |
| Q1 26 | — | — | ||
| Q4 25 | $18.4B | — | ||
| Q3 25 | $16.9B | — | ||
| Q2 25 | $17.4B | — | ||
| Q1 25 | $16.5B | — | ||
| Q4 24 | $16.0B | — | ||
| Q3 24 | $17.5B | — | ||
| Q2 24 | $17.0B | — |
| Q1 26 | — | — | ||
| Q4 25 | $52.5B | $22.4B | ||
| Q3 25 | $51.1B | $21.8B | ||
| Q2 25 | $52.3B | $21.2B | ||
| Q1 25 | $50.8B | $20.9B | ||
| Q4 24 | $49.5B | $20.6B | ||
| Q3 24 | $51.3B | $20.1B | ||
| Q2 24 | $49.9B | $19.8B |
| Q1 26 | — | — | ||
| Q4 25 | $83.5B | $47.8B | ||
| Q3 25 | $79.9B | $47.1B | ||
| Q2 25 | $81.6B | $46.3B | ||
| Q1 25 | $79.1B | $46.0B | ||
| Q4 24 | $77.5B | $43.0B | ||
| Q3 24 | $80.6B | $43.8B | ||
| Q2 24 | $78.6B | $39.1B |
| 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 | $2.1B |
| Free Cash FlowOCF − Capex | $1.1B | $1.9B |
| FCF MarginFCF / Revenue | 18.2% | 26.1% |
| Capex IntensityCapex / Revenue | 4.0% | 3.7% |
| Cash ConversionOCF / Net Profit | 1.28× | 2.52× |
| TTM Free Cash FlowTrailing 4 quarters | $5.3B | $4.3B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.3B | — | ||
| Q4 25 | $2.1B | $2.1B | ||
| Q3 25 | $1.7B | $1.5B | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $1.3B | $250.0M | ||
| Q4 24 | $2.0B | $1.9B | ||
| Q3 24 | $1.5B | $1.5B | ||
| Q2 24 | $1.4B | $633.0M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.7B | $1.9B | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | $1.1B | $928.0M | ||
| Q1 25 | $1.1B | $127.0M | ||
| Q4 24 | $1.5B | $1.7B | ||
| Q3 24 | $1.2B | $1.3B | ||
| Q2 24 | $1.1B | $481.0M |
| Q1 26 | 18.2% | — | ||
| Q4 25 | 25.5% | 26.1% | ||
| Q3 25 | 22.6% | 22.3% | ||
| Q2 25 | 18.4% | 15.4% | ||
| Q1 25 | 18.4% | 2.2% | ||
| Q4 24 | 23.0% | 25.9% | ||
| Q3 24 | 21.0% | 23.7% | ||
| Q2 24 | 19.7% | 8.9% |
| Q1 26 | 4.0% | — | ||
| Q4 25 | 5.4% | 3.7% | ||
| Q3 25 | 4.8% | 3.1% | ||
| Q2 25 | 4.2% | 3.0% | ||
| Q1 25 | 4.3% | 2.1% | ||
| Q4 24 | 7.9% | 4.1% | ||
| Q3 24 | 5.1% | 3.1% | ||
| Q2 24 | 5.0% | 2.8% |
| Q1 26 | 1.28× | — | ||
| Q4 25 | 1.77× | 2.52× | ||
| Q3 25 | 1.83× | 1.79× | ||
| Q2 25 | 2.41× | 1.26× | ||
| Q1 25 | 1.36× | 0.38× | ||
| Q4 24 | 1.86× | 3.54× | ||
| Q3 24 | 1.85× | 1.77× | ||
| Q2 24 | 1.56× | 0.77× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DHR
Segment breakdown not available.
SYK
| Medical | $1.3B | 18% |
| Endoscopy | $1.1B | 16% |
| Traumaand Extremities | $1.1B | 15% |
| Instruments | $925.0M | 13% |
| Knees | $749.0M | 10% |
| Neuro Cranial | $669.0M | 9% |
| Neurovascular | $539.0M | 8% |
| Hips | $499.0M | 7% |
| Other Orthopaedics | $267.0M | 4% |
| Spine | $8.0M | 0% |
