Danaher Corporation (DHR)

Working capital turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	23,693,000	31,383,000	29,239,000	21,983,000	17,796,000
Total current assets	US$ in thousands	13,937,000	15,883,000	11,648,000	13,802,000	25,596,000
Total current liabilities	US$ in thousands	8,274,000	8,389,000	8,140,000	7,402,000	4,932,000
Working capital turnover		4.18	4.19	8.33	3.43	0.86

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $23,693,000K ÷ ($13,937,000K – $8,274,000K)
= 4.18

Danaher Corp.'s working capital turnover has fluctuated over the past five years. In 2023, the working capital turnover was 4.22, showing a slight increase from the previous year. This indicates that the company generated $4.22 in revenue for every dollar of working capital invested. In 2021, the working capital turnover was notably higher at 8.40, suggesting more efficient utilization of working capital to generate revenue. However, in 2020 and 2019, the working capital turnover was lower at 3.48 and 0.87 respectively, indicating a less effective utilization of working capital during those years. Overall, the trend in working capital turnover suggests that Danaher Corp. has been able to generate sales efficiently in recent years, with some fluctuations in performance.