Danaher Corporation (DHR)

Operating profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Operating income (ttm)	US$ in thousands	5,202,000	5,862,000	6,394,000	7,436,000	8,091,000	8,248,000	7,840,000	7,640,000	7,465,000	6,912,000	6,691,000	5,530,000	4,231,000	3,591,700	3,280,000	3,247,700	3,269,400	3,171,100	3,140,100	3,087,300
Revenue (ttm)	US$ in thousands	27,514,000	29,446,000	30,174,000	30,811,000	31,383,000	31,114,000	30,643,000	30,083,000	29,239,000	27,833,000	26,462,000	24,514,000	21,983,000	20,189,400	19,394,400	19,311,400	19,872,000	20,367,100	20,209,200	20,054,200
Operating profit margin		18.91%	19.91%	21.19%	24.13%	25.78%	26.51%	25.58%	25.40%	25.53%	24.83%	25.29%	22.56%	19.25%	17.79%	16.91%	16.82%	16.45%	15.57%	15.54%	15.39%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $5,202,000K ÷ $27,514,000K
= 18.91%

Based on the provided data, Danaher Corp.'s operating profit margin has displayed a downward trend over the past eight quarters. The operating profit margin decreased from 27.61% in Q4 2022 to 21.77% in Q4 2023. This declining trend indicates a decrease in the proportion of revenues converted into operating profit over time. Despite a slight increase in Q3 2023, the margin continued to decrease over subsequent quarters. It is important for Danaher Corp. to closely monitor and assess the factors contributing to this trend to ensure sustainable profitability and operational efficiency in the future.