What is Danaher Corp worth?
With the base-case assumptions below, a discounted cash flow model on Danaher Corp's reported free cash flow gives $82.33 per share. The share price was $224.49 on September 25, 2026, 173% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -3.0% | 10.0% | $39.45 | -82% |
| Base | 2.0% | 9.0% | $82.33 | -63% |
| Bull | 7.0% | 8.0% | $162.41 | -28% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $112.41 | $121.49 | $132.58 | $146.44 | $164.27 |
| 8.0% | $90.05 | $95.93 | $102.89 | $111.23 | $121.43 |
| 9.0% | $73.66 | $77.69 | $82.33 | $87.75 | $94.15 |
| 10.0% | $61.15 | $64.01 | $67.25 | $70.96 | $75.24 |
| 11.0% | $51.28 | $53.38 | $55.72 | $58.36 | $61.35 |
Where the presets come from
Base: years 1 to 5 grow at Danaher Corp's revenue growth rate over the last 5 fiscal years (2.0% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions