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Danaher vs Ralliant: revenue, profit, margins and growth compared

Danaher brought in $24.6B of revenue in fiscal 2025, Ralliant $2.1B in fiscal 2025. Revenue changed by +2.9% at Danaher and -4.0% at Ralliant on the year before, so Danaher grew faster. Danaher kept 14.7% of its revenue as net profit, Ralliant -59.1%. Free cash flow was $5.3B at Danaher and $358.4M at Ralliant.

Side by side, latest fiscal year

DHRRAL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$24.6B$2.1B
Revenue growth+2.9%-4.0%
Net income$3.6B-$1.2B
Net margin14.7%-59.1%
Free cash flow$5.3B$358.4M
Free cash flow margin21.4%17.3%
Earnings per share (diluted)$5.05-$10.84
Cash$4.6B$318.8M
Debt$18.4B$1.1B
Price to earnings44.5n/a
Market value$157.8B$7.7B
Dividend yieldn/a0.14%
Rank by revenue in sector#27 of 451 · Industrials#217 of 451 · Industrials

Over the years

Revenue
DHR FY2018: $19.9BDHR FY2019: $17.9BDHR FY2020: $22.3BDHR FY2021: $24.8BDHR FY2022: $26.6BDHR FY2023: $23.9BDHR FY2024: $23.9BDHR FY2025: $24.6BRAL FY2023: $2.2BRAL FY2025: $2.2BRAL FY2025: $2.1BFY18FY19FY20FY21FY22FY23FY24FY25
DHR $24.6BRAL $2.1B
Net income
DHR FY2018: $2.7BDHR FY2019: $3BDHR FY2020: $3.6BDHR FY2021: $6.4BDHR FY2022: $7.2BDHR FY2023: $4.8BDHR FY2024: $3.9BDHR FY2025: $3.6BRAL FY2023: $416.8MRAL FY2025: $354.6MRAL FY2025: -$1.2BFY18FY19FY20FY21FY22FY23FY24FY25
DHR $3.6BRAL -$1.2B
Net margin
DHR FY2018: 13.3%DHR FY2019: 16.8%DHR FY2020: 16.4%DHR FY2021: 25.9%DHR FY2022: 27.1%DHR FY2023: 19.9%DHR FY2024: 16.3%DHR FY2025: 14.7%RAL FY2023: 19.3%RAL FY2025: 16.5%RAL FY2025: -59.1%FY18FY19FY20FY21FY22FY23FY24FY25
DHR 14.7%RAL -59.1%
Revenue growth
DHR FY2019: -10.0%DHR FY2020: +24.4%DHR FY2021: +11.3%DHR FY2022: +7.4%DHR FY2023: -10.3%DHR FY2024: -0.1%DHR FY2025: +2.9%RAL FY2025: -0.0%RAL FY2025: -4.0%FY19FY20FY21FY22FY23FY24FY25
DHR +2.9%RAL -4.0%
Free cash flow
DHR FY2018: $3.4BDHR FY2019: $3.3BDHR FY2020: $5.4BDHR FY2021: $7.1BDHR FY2022: $7.4BDHR FY2023: $5.8BDHR FY2024: $5.3BDHR FY2025: $5.3BRAL FY2023: $432.6MRAL FY2025: $420.2MRAL FY2025: $358.4MFY18FY19FY20FY21FY22FY23FY24FY25
DHR $5.3BRAL $358.4M

Fiscal years as each company reports them; the two may end in different months.

Questions about Danaher and Ralliant

Which is bigger by revenue, Danaher or Ralliant?

Danaher is bigger by revenue: $24.6B in fiscal 2025, against $2.1B for Ralliant in fiscal 2025.

Which keeps more of its revenue as profit, Danaher or Ralliant?

Danaher had a net margin of 14.7% in fiscal 2025; Ralliant had -59.1% in fiscal 2025.

Which grew revenue faster, Danaher or Ralliant?

In their latest fiscal years revenue changed by +2.9% at Danaher and -4.0% at Ralliant.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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