Danaher Corporation (DHR)

Debt-to-equity 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-equity ratio		0.31	0.37	0.35	0.35	0.38	0.39	0.43	0.47	0.49	0.54	0.48	0.50	0.53	0.57	0.62	0.73	0.71	0.51	0.32	0.30

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $16,707,000K ÷ $53,486,000K
= 0.31

The debt-to-equity ratio of Danaher Corp. has shown a fluctuating trend over the past eight quarters. In Q4 2023, the ratio stood at 0.34, indicating that the company had a lower level of debt compared to shareholder equity. This was a decrease from the previous quarter where the ratio was 0.42.

Throughout the quarters, Danaher Corp. has generally maintained a moderate level of leverage, with the ratio ranging between 0.34 to 0.47. This suggests that the company has been effectively managing its debt levels relative to its equity position.

The decrease in the debt-to-equity ratio in Q4 2023 may indicate a reduction in the company's reliance on debt financing or an increase in shareholder equity. Investors and creditors typically view a lower debt-to-equity ratio positively as it signifies a lower financial risk and better financial health.

Overall, Danaher Corp.'s debt-to-equity ratio analysis reflects a prudent approach to capital structure management, balancing debt and equity to support sustainable growth and financial stability.