DHR vs MMM
Danaher Corp. and 3M Co., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | DHR | MMM |
|---|---|---|
| Revenue | $24.6B | $24.9B |
| Net income | $3.6B | $3.2B |
| Gross margin | 59.1% | 39.9% |
| Net margin | 14.7% | 13.1% |
| Return on equity | 7.1% | 76.1% |
| Diluted EPS | $5.05 | $6.00 |
| Dividend / share | · | $2.92 |
| Payout ratio | 24.3% | 48.1% |
| Free cash flow | $5.3B | $1.4B |
| Equity | $52.5B | $4.7B |
| Net debt / equity | 0.26× | 1.57× |
| Current ratio | 1.87× | 1.71× |
| Revenue CAGR 5y | 2.0% | −5.0% |
| Profit CAGR 5y | −0.2% | −9.8% |
DHR and MMM book revenue within 15% of each other, and keeps more of each dollar of revenue as profit (14.7% against 13.1%).
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 | MMM |
|---|---|---|
| FY2025 | $24.6B | $24.9B |
| FY2024 | $23.9B | $24.6B |
| FY2023 | $23.9B | $24.6B |
| FY2022 | $26.6B | $26.2B |
| FY2021 | $24.8B | $35.4B |
| FY2020 | $22.3B | $32.2B |
| FY2019 | $17.9B | $32.1B |
| FY2018 | $17.0B | $32.8B |
| FY2017 | $15.5B | $31.7B |
| FY2016 | $16.9B | $30.1B |
Bottom line
| Fiscal year | DHR | MMM |
|---|---|---|
| FY2025 | $3.6B | $3.2B |
| FY2024 | $3.9B | $4.2B |
| FY2023 | $4.8B | $-7.0B |
| FY2022 | $7.2B | $5.8B |
| FY2021 | $6.4B | $5.9B |
| FY2020 | $3.6B | $5.4B |
| FY2019 | $3.0B | $4.5B |
| FY2018 | $2.7B | $5.3B |
| FY2017 | $2.5B | $4.9B |
| FY2016 | $2.6B | $5.0B |
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$380,000,000 | MMM |
| FY2024 | −$700,000,000 | MMM |
| FY2023 | −$720,000,000 | MMM |
| FY2022 | +$482,000,000 | DHR |
| FY2021 | −$10,553,000,000 | MMM |
| FY2020 | −$9,900,000,000 | MMM |
| FY2019 | −$14,225,000,000 | MMM |
| FY2018 | −$15,716,000,000 | MMM |
| FY2017 | −$16,138,200,000 | MMM |
| FY2016 | −$13,226,600,000 | MMM |
| FY2015 | −$15,840,300,000 | MMM |
| FY2014 | −$18,954,100,000 | MMM |
| FY2013 | −$12,587,900,000 | MMM |
| FY2012 | −$11,643,600,000 | MMM |
| FY2011 | −$13,520,500,000 | MMM |
| FY2010 | −$14,112,000,000 | MMM |
| FY2009 | −$12,606,319,000 | MMM |
| FY2008 | −$12,571,544,000 | MMM |
| FY2007 | −$13,436,083,000 | MMM |
The higher-revenue side has changed between DHR and MMM over this period. The gap has narrowed since the earliest year compared.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +1.6 pp | DHR |
| FY2024 | −0.7 pp | MMM |
| FY2023 | +48.3 pp | DHR |
| FY2022 | +4.9 pp | DHR |
| FY2021 | +9.2 pp | DHR |
| FY2020 | −0.6 pp | MMM |
| FY2019 | +2.7 pp | DHR |
| FY2018 | −0.8 pp | MMM |
| FY2017 | +0.7 pp | DHR |
| FY2016 | −1.7 pp | MMM |
| FY2015 | +7.3 pp | DHR |
| FY2014 | +4.5 pp | DHR |
| FY2013 | −0.6 pp | MMM |
| FY2012 | −2.0 pp | MMM |
| FY2011 | −1.2 pp | MMM |
| FY2010 | −1.3 pp | MMM |
| FY2009 | −3.1 pp | MMM |
| FY2008 | −3.6 pp | MMM |
| FY2007 | −4.5 pp | MMM |
The higher net margin has changed hands between DHR and MMM over this period.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
MMM's net margin has been more volatile than DHR's over the 19 comparable fiscal years — 10.1 percentage points of standard deviation against 4.5.
19 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 MMM over these 19 fiscal years — DHR led in 8 and MMM in 11.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
MMM's return on equity has been more volatile than DHR's over the 18 comparable fiscal years — 31.5 percentage points of standard deviation against 2.4.
18 of 19 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 MMM over these 18 fiscal years — DHR led in 1 and MMM in 17.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.