DHR vs NOC
Danaher Corp. and Northrop Grumman Corp., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | DHR | NOC |
|---|---|---|
| Revenue | $24.6B | $42.0B |
| Net income | $3.6B | $4.2B |
| Gross margin | 59.1% | · |
| Net margin | 14.7% | 10.0% |
| Return on equity | 7.1% | 26.2% |
| Diluted EPS | $5.05 | $29.08 |
| Dividend / share | · | $8.99 |
| Payout ratio | 24.3% | 30.9% |
| Free cash flow | $5.3B | $3.3B |
| Equity | $52.5B | $16.7B |
| Net debt / equity | 0.26× | 0.68× |
| Current ratio | 1.87× | 1.10× |
| Revenue CAGR 5y | 2.0% | 2.7% |
| Profit CAGR 5y | −0.2% | 5.6% |
NOC bills 1.7× the revenue of DHR, and DHR keeps more of each dollar of revenue as profit (14.7% against 10.0%).
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 | NOC |
|---|---|---|
| FY2025 | $24.6B | $42.0B |
| FY2024 | $23.9B | $41.0B |
| FY2023 | $23.9B | $39.3B |
| FY2022 | $26.6B | $36.6B |
| FY2021 | $24.8B | $35.7B |
| FY2020 | $22.3B | $36.8B |
| FY2019 | $17.9B | $33.8B |
| FY2018 | $17.0B | $30.1B |
| FY2017 | $15.5B | $26.0B |
| FY2016 | $16.9B | $24.7B |
Bottom line
| Fiscal year | DHR | NOC |
|---|---|---|
| FY2025 | $3.6B | $4.2B |
| FY2024 | $3.9B | $4.2B |
| FY2023 | $4.8B | $2.1B |
| FY2022 | $7.2B | $4.9B |
| FY2021 | $6.4B | $7.0B |
| FY2020 | $3.6B | $3.2B |
| FY2019 | $3.0B | $2.2B |
| FY2018 | $2.7B | $3.2B |
| FY2017 | $2.5B | $2.9B |
| FY2016 | $2.6B | $2.0B |
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$17,386,000,000 | NOC |
| FY2024 | −$17,158,000,000 | NOC |
| FY2023 | −$15,400,000,000 | NOC |
| FY2022 | −$9,959,000,000 | NOC |
| FY2021 | −$10,865,000,000 | NOC |
| FY2020 | −$14,515,000,000 | NOC |
| FY2019 | −$15,930,000,000 | NOC |
| FY2018 | −$13,046,000,000 | NOC |
| FY2017 | −$10,485,200,000 | NOC |
| FY2016 | −$7,823,600,000 | NOC |
| FY2015 | −$9,092,300,000 | NOC |
| FY2014 | −$11,112,100,000 | NOC |
| FY2013 | −$6,377,900,000 | NOC |
| FY2012 | −$6,957,600,000 | NOC |
| FY2011 | −$10,321,500,000 | NOC |
| FY2010 | −$15,593,000,000 | NOC |
| FY2009 | −$17,133,319,000 | NOC |
| FY2008 | −$19,617,544,000 | NOC |
| FY2007 | −$19,315,083,000 | NOC |
NOC has reported the higher revenue in every one of these 19 fiscal years. 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 | +4.7 pp | DHR |
| FY2024 | +6.2 pp | DHR |
| FY2023 | +14.7 pp | DHR |
| FY2022 | +13.7 pp | DHR |
| FY2021 | +6.3 pp | DHR |
| FY2020 | +7.7 pp | DHR |
| FY2019 | +10.2 pp | DHR |
| FY2018 | +4.8 pp | DHR |
| FY2017 | +5.0 pp | DHR |
| FY2016 | +6.9 pp | DHR |
| FY2015 | +14.8 pp | DHR |
| FY2014 | +11.6 pp | DHR |
| FY2013 | +6.8 pp | DHR |
| FY2012 | +5.3 pp | DHR |
| FY2011 | +5.5 pp | DHR |
| FY2010 | +7.0 pp | DHR |
| FY2009 | +4.9 pp | DHR |
| FY2008 | +14.3 pp | DHR |
| FY2007 | +6.5 pp | DHR |
DHR has kept the higher net margin in every one of these 19 fiscal years.
19 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 NOC's over the 19 comparable fiscal years — 4.5 percentage points of standard deviation against 4.3.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
DHR led in net margin in every one of the 19 comparable fiscal years — a structural lead, not a recent swing.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
NOC's return on equity has been more volatile than DHR's over the 18 comparable fiscal years — 14.6 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 NOC over these 18 fiscal years — DHR led in 1 and NOC in 17.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.