DHR vs MDT
Danaher Corp. and Medtronic PLC, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | DHR | MDT |
|---|---|---|
| Revenue | $24.6B | $36.4B |
| Net income | $3.6B | $4.8B |
| Gross margin | 59.1% | 65.0% |
| Net margin | 14.7% | 13.3% |
| Return on equity | 7.1% | 9.8% |
| Diluted EPS | $5.05 | $3.73 |
| Dividend / share | · | $2.84 |
| Payout ratio | 24.3% | 75.8% |
| Free cash flow | $5.3B | $5.4B |
| Equity | $52.5B | $49.5B |
| Net debt / equity | 0.26× | 0.53× |
| Current ratio | 1.87× | 2.13× |
| Revenue CAGR 5y | 2.0% | 3.8% |
| Profit CAGR 5y | −0.2% | 5.9% |
MDT bills 1.5× the revenue of DHR, and DHR keeps more of each dollar of revenue as profit (14.7% against 13.3%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | DHR | MDT |
|---|---|---|
| FY2025 | $24.6B | $36.4B |
| FY2024 | $23.9B | $33.5B |
| FY2023 | $23.9B | $32.4B |
| FY2022 | $26.6B | $31.2B |
| FY2021 | $24.8B | $31.7B |
| FY2020 | $22.3B | $30.1B |
| FY2019 | $17.9B | $28.9B |
| FY2018 | $17.0B | $30.6B |
| FY2017 | $15.5B | $30.0B |
| FY2016 | $16.9B | $29.7B |
Bottom line
| Fiscal year | DHR | MDT |
|---|---|---|
| FY2025 | $3.6B | $4.8B |
| FY2024 | $3.9B | $4.7B |
| FY2023 | $4.8B | $3.7B |
| FY2022 | $7.2B | $3.8B |
| FY2021 | $6.4B | $5.0B |
| FY2020 | $3.6B | $3.6B |
| FY2019 | $3.0B | $4.8B |
| FY2018 | $2.7B | $4.6B |
| FY2017 | $2.5B | $3.1B |
| FY2016 | $2.6B | $4.0B |
14 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$11,796,000,000 | MDT |
| FY2024 | −$9,662,000,000 | MDT |
| FY2023 | −$8,474,000,000 | MDT |
| FY2022 | −$4,584,000,000 | MDT |
| FY2021 | −$6,884,000,000 | MDT |
| FY2020 | −$7,833,000,000 | MDT |
| FY2019 | −$11,002,000,000 | MDT |
| FY2018 | −$13,508,000,000 | MDT |
| FY2017 | −$14,434,200,000 | MDT |
| FY2016 | −$12,827,600,000 | MDT |
| FY2015 | −$14,399,300,000 | MDT |
| FY2014 | −$7,394,100,000 | MDT |
| FY2013 | +$1,278,100,000 | DHR |
| FY2012 | +$1,670,400,000 | DHR |
The higher-revenue side has changed between DHR and MDT over this period. The gap has widened since the earliest year compared.
14 of 19 comparable fiscal years — a year missing data on either side is not counted.
14 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +1.4 pp | DHR |
| FY2024 | +2.3 pp | DHR |
| FY2023 | +8.5 pp | DHR |
| FY2022 | +14.9 pp | DHR |
| FY2021 | +10.0 pp | DHR |
| FY2020 | +4.3 pp | DHR |
| FY2019 | +0.2 pp | DHR |
| FY2018 | +0.3 pp | DHR |
| FY2017 | +5.7 pp | DHR |
| FY2016 | +1.6 pp | DHR |
| FY2015 | +11.0 pp | DHR |
| FY2014 | +7.0 pp | DHR |
| FY2013 | −3.3 pp | MDT |
| FY2012 | −7.8 pp | MDT |
The higher net margin has changed hands between DHR and MDT over this period.
14 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
DHR's net margin has been more volatile than MDT's over the 14 comparable fiscal years — 4.2 percentage points of standard deviation against 2.8.
14 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between DHR and MDT over these 14 fiscal years — DHR led in 12 and MDT in 2.
14 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
MDT's return on equity has been more volatile than DHR's over the 14 comparable fiscal years — 3.5 percentage points of standard deviation against 2.5.
14 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between DHR and MDT over these 14 fiscal years — DHR led in 10 and MDT in 4.
14 of 18 comparable fiscal years — a year missing data on either side is not counted.