Danaher Corporation (DHR)

Debt-to-capital ratio

		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
Long-term debt	US$ in thousands	16,707,000	19,513,000	18,285,000	18,261,000	19,086,000	18,542,000	20,052,000	21,768,000	22,168,000	23,591,000	20,400,000	20,267,000	21,193,000	21,806,100	22,370,000	22,737,200	21,517,000	16,536,200	10,144,400	9,458,200
Total stockholders’ equity	US$ in thousands	53,486,000	52,407,000	51,716,000	51,478,000	50,082,000	46,985,000	46,594,000	46,356,000	45,167,000	43,451,000	42,756,000	40,419,000	39,766,000	37,961,000	36,261,700	31,055,100	30,271,000	32,502,300	32,201,200	31,556,600
Debt-to-capital ratio		0.24	0.27	0.26	0.26	0.28	0.28	0.30	0.32	0.33	0.35	0.32	0.33	0.35	0.36	0.38	0.42	0.42	0.34	0.24	0.23

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $16,707,000K ÷ ($16,707,000K + $53,486,000K)
= 0.24

The debt-to-capital ratio of Danaher Corp. has ranged from 0.26 to 0.32 over the past eight quarters. This ratio measures the proportion of the company's capital structure funded by debt compared to total capital.

The trend shows some fluctuation but remains relatively stable, indicating Danaher's consistent approach to managing its capital structure. A decreasing ratio could suggest a reduction in debt levels relative to capital, potentially signaling improved financial health and lower financial risk. Conversely, an increasing ratio might point to higher reliance on debt financing.

Overall, with the debt-to-capital ratio hovering around 0.28 to 0.30 in recent quarters, Danaher appears to maintain a balanced capital structure with a manageable level of debt, which could indicate prudent financial management and sustainable growth prospects.