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 $84.30 per share. The share price was $236.11 on November 10, 2026, 180% 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% | $41.42 | -82% |
| Base | 2.0% | 9.0% | $84.30 | -64% |
| Bull | 7.0% | 8.0% | $164.38 | -30% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $114.38 | $123.46 | $134.55 | $148.41 | $166.24 |
| 8.0% | $92.02 | $97.90 | $104.86 | $113.20 | $123.40 |
| 9.0% | $75.63 | $79.66 | $84.30 | $89.72 | $96.12 |
| 10.0% | $63.12 | $65.98 | $69.22 | $72.93 | $77.21 |
| 11.0% | $53.25 | $55.35 | $57.69 | $60.33 | $63.32 |
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