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Side-by-side financial comparison of Danaher Corporation (DHR) and Vistra Corp. (VST). Click either name above to swap in a different company.
Danaher Corporation is the larger business by last-quarter revenue ($6.0B vs $4.8B, roughly 1.2× Vistra Corp.). Danaher Corporation runs the higher net margin — 17.3% vs 4.8%, a 12.4% gap on every dollar of revenue. On growth, Vistra Corp. posted the faster year-over-year revenue change (31.2% vs 3.7%). Danaher Corporation produced more free cash flow last quarter ($1.1B vs $596.0M). Over the past eight quarters, Vistra Corp.'s revenue compounded faster (23.3% 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,...
Vistra may refer to either of two companies:Vistra, a corporate services company based in Hong Kong Vistra Corp, an energy company based in Texas
DHR vs VST — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.0B | $4.8B |
| Net Profit | $1.0B | $233.0M |
| Gross Margin | 60.3% | — |
| Operating Margin | 22.6% | 9.9% |
| Net Margin | 17.3% | 4.8% |
| Revenue YoY | 3.7% | 31.2% |
| Net Profit YoY | 7.9% | -47.2% |
| EPS (diluted) | $1.45 | $0.55 |
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 | $4.8B | ||
| Q3 25 | $6.1B | $4.8B | ||
| Q2 25 | $5.9B | $3.8B | ||
| Q1 25 | $5.7B | $4.3B | ||
| Q4 24 | $6.5B | $3.7B | ||
| Q3 24 | $5.8B | $4.3B | ||
| Q2 24 | $5.7B | $3.6B |
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.2B | $233.0M | ||
| Q3 25 | $908.0M | $652.0M | ||
| Q2 25 | $555.0M | $327.0M | ||
| Q1 25 | $954.0M | $-268.0M | ||
| Q4 24 | $1.1B | $441.0M | ||
| Q3 24 | $818.0M | $1.9B | ||
| Q2 24 | $907.0M | $365.0M |
| Q1 26 | 60.3% | — | ||
| Q4 25 | 58.0% | — | ||
| Q3 25 | 58.2% | — | ||
| Q2 25 | 59.3% | — | ||
| Q1 25 | 61.2% | — | ||
| Q4 24 | 59.5% | — | ||
| Q3 24 | 58.7% | — | ||
| Q2 24 | 59.7% | — |
| Q1 26 | 22.6% | — | ||
| Q4 25 | 22.0% | 9.9% | ||
| Q3 25 | 19.1% | 21.7% | ||
| Q2 25 | 12.8% | 13.7% | ||
| Q1 25 | 22.2% | -2.8% | ||
| Q4 24 | 21.8% | 16.4% | ||
| Q3 24 | 16.5% | 59.6% | ||
| Q2 24 | 20.3% | 22.5% |
| Q1 26 | 17.3% | — | ||
| Q4 25 | 17.5% | 4.8% | ||
| Q3 25 | 15.0% | 13.6% | ||
| Q2 25 | 9.3% | 8.7% | ||
| Q1 25 | 16.6% | -6.3% | ||
| Q4 24 | 16.6% | 12.0% | ||
| Q3 24 | 14.1% | 43.5% | ||
| Q2 24 | 15.8% | 10.1% |
| Q1 26 | $1.45 | — | ||
| Q4 25 | $1.69 | $0.55 | ||
| Q3 25 | $1.27 | $1.75 | ||
| Q2 25 | $0.77 | $0.81 | ||
| Q1 25 | $1.32 | $-0.93 | ||
| Q4 24 | $1.50 | $1.09 | ||
| Q3 24 | $1.12 | $5.25 | ||
| Q2 24 | $1.22 | $0.90 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $785.0M |
| Total DebtLower is stronger | — | $15.8B |
| Stockholders' EquityBook value | — | $5.1B |
| Total Assets | — | $41.5B |
| Debt / EquityLower = less leverage | — | 3.11× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $785.0M | ||
| Q3 25 | — | $602.0M | ||
| Q2 25 | — | $458.0M | ||
| Q1 25 | — | $561.0M | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $905.0M | ||
| Q2 24 | — | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | $18.4B | $15.8B | ||
| Q3 25 | $16.9B | $15.8B | ||
| Q2 25 | $17.4B | $15.5B | ||
| Q1 25 | $16.5B | $15.4B | ||
| Q4 24 | $16.0B | $15.4B | ||
| Q3 24 | $17.5B | $13.9B | ||
| Q2 24 | $17.0B | $13.9B |
| Q1 26 | — | — | ||
| Q4 25 | $52.5B | $5.1B | ||
| Q3 25 | $51.1B | $5.2B | ||
| Q2 25 | $52.3B | $4.8B | ||
| Q1 25 | $50.8B | $4.8B | ||
| Q4 24 | $49.5B | $5.6B | ||
| Q3 24 | $51.3B | $5.4B | ||
| Q2 24 | $49.9B | $5.6B |
| Q1 26 | — | — | ||
| Q4 25 | $83.5B | $41.5B | ||
| Q3 25 | $79.9B | $38.0B | ||
| Q2 25 | $81.6B | $38.1B | ||
| Q1 25 | $79.1B | $38.2B | ||
| Q4 24 | $77.5B | $37.8B | ||
| Q3 24 | $80.6B | $37.9B | ||
| Q2 24 | $78.6B | $39.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.35× | 3.11× | ||
| Q3 25 | 0.33× | 3.02× | ||
| Q2 25 | 0.33× | 3.22× | ||
| Q1 25 | 0.32× | 3.20× | ||
| Q4 24 | 0.32× | 2.77× | ||
| Q3 24 | 0.34× | 2.56× | ||
| Q2 24 | 0.34× | 2.49× |
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 | $1.4B |
| Free Cash FlowOCF − Capex | $1.1B | $596.0M |
| FCF MarginFCF / Revenue | 18.2% | 12.4% |
| Capex IntensityCapex / Revenue | 4.0% | 17.4% |
| Cash ConversionOCF / Net Profit | 1.28× | 6.15× |
| TTM Free Cash FlowTrailing 4 quarters | $5.3B | $1.3B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.3B | — | ||
| Q4 25 | $2.1B | $1.4B | ||
| Q3 25 | $1.7B | $1.5B | ||
| Q2 25 | $1.3B | $572.0M | ||
| Q1 25 | $1.3B | $599.0M | ||
| Q4 24 | $2.0B | $1.4B | ||
| Q3 24 | $1.5B | $1.7B | ||
| Q2 24 | $1.4B | $1.2B |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.7B | $596.0M | ||
| Q3 25 | $1.4B | $1.0B | ||
| Q2 25 | $1.1B | $-118.0M | ||
| Q1 25 | $1.1B | $-169.0M | ||
| Q4 24 | $1.5B | $923.0M | ||
| Q3 24 | $1.2B | $1.0B | ||
| Q2 24 | $1.1B | $698.0M |
| Q1 26 | 18.2% | — | ||
| Q4 25 | 25.5% | 12.4% | ||
| Q3 25 | 22.6% | 21.1% | ||
| Q2 25 | 18.4% | -3.1% | ||
| Q1 25 | 18.4% | -4.0% | ||
| Q4 24 | 23.0% | 25.2% | ||
| Q3 24 | 21.0% | 23.4% | ||
| Q2 24 | 19.7% | 19.4% |
| Q1 26 | 4.0% | — | ||
| Q4 25 | 5.4% | 17.4% | ||
| Q3 25 | 4.8% | 9.6% | ||
| Q2 25 | 4.2% | 18.4% | ||
| Q1 25 | 4.3% | 18.1% | ||
| Q4 24 | 7.9% | 11.7% | ||
| Q3 24 | 5.1% | 15.8% | ||
| Q2 24 | 5.0% | 13.8% |
| Q1 26 | 1.28× | — | ||
| Q4 25 | 1.77× | 6.15× | ||
| Q3 25 | 1.83× | 2.25× | ||
| Q2 25 | 2.41× | 1.75× | ||
| Q1 25 | 1.36× | — | ||
| Q4 24 | 1.86× | 3.07× | ||
| Q3 24 | 1.85× | 0.90× | ||
| Q2 24 | 1.56× | 3.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DHR
Segment breakdown not available.
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
