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Held by 2,083 of 5,944 reporting institutions (100th percentile) — extremely crowded.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $212.50 today, the market must believe free cash flow compounds 13.7%/yr for a decade (off $5.4B normalized FCF).
The market's 13.7% is more optimistic than its 9-yr track record.
2-stage DCF · 0.71B shares · net debt $18.4B
mean 9.1% · volatility σ 25% · implied rate exceeded in 3/9 yrs
Central path = implied 13.7%/yr growth; shaded band = ±1σ (25%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Insufficient balance-sheet detail (needs retained earnings, working capital, equity).
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest; leverage rising year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 17% of free cash flow, leaving room to grow it and fund buybacks. Last year: $878M dividends + $3.1B buybacks = $4.0B returned on $5.3B FCF.
1 consecutive years of dividend increases · 9%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Modest payoff on reinvested capital. Current ROIC on all capital: 5%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
$2.4B of principal comes due within a year. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~1.4% on $18.4B of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $24.57B 100.0% | $23.88B 100.0% | $23.89B 100.0% | $26.64B 100.0% | $24.80B 100.0% | $22.28B 100.0% | $17.91B 100.0% | $19.89B 100.0% | $18.33B 100.0% | $16.88B 100.0% |
| Cost of Revenue | $10.04B 40.9% | $9.67B 40.5% | $9.86B 41.3% | $10.46B 39.2% | $9.56B 38.6% | $9.81B 44.0% | $7.93B 44.3% | $7.54B 37.9% | $6.95B 37.9% | $7.55B 44.7% |
| Gross Profit | $14.52B 59.1% | $14.21B 59.5% | $14.03B 58.7% | $16.19B 60.8% | $15.24B 61.4% | $12.47B 56.0% | $9.98B 55.7% | $9.51B 47.8% | $8.57B 46.8% | $9.33B 55.3% |
| Research & Development | $1.60B 6.5% | $1.58B 6.6% | $1.50B 6.3% | $1.53B 5.7% | $1.50B 6.0% | $1.35B 6.0% | $1.13B 6.3% | $1.06B 5.3% | $956.4M 5.2% | $975.1M 5.8% |
| Selling, General & Admin | $8.23B 33.5% | $7.76B 32.5% | $7.33B 30.7% | $7.12B 26.7% | $6.82B 27.5% | $6.90B 30.9% | $5.59B 31.2% | $5.39B 27.1% | $5.04B 27.5% | $5.62B 33.3% |
| Operating Income | $4.69B 19.1% | $4.86B 20.4% | $5.20B 21.8% | $7.54B 28.3% | $6.38B 25.7% | $4.23B 19.0% | $3.27B 18.3% | $3.06B 15.4% | $2.57B 14.0% | $2.74B 16.2% |
| Interest Expense | $265.0M 1.1% | $278.0M 1.2% | $286.0M 1.2% | $204.0M 0.8% | $231.0M 0.9% | $275.0M 1.2% | $108.0M 0.6% | $137.0M 0.7% | $140.1M 0.8% | $184.4M 1.1% |
| Interest & Investment Income | $30.0M 0.1% | $117.0M 0.5% | $303.0M 1.3% | $41.0M 0.2% | $11.0M 0.0% | $71.0M 0.3% | $139.0M 0.8% | $9.0M 0.0% | $7.5M 0.0% | $200K 0.0% |
| Other Income (Expense), net | -$222.0M -0.9% | -$56.0M -0.2% | -$175.0M -0.7% | -$227.0M -0.9% | $450.0M 1.8% | $494.0M 2.2% | $12.0M 0.1% | $35.0M 0.2% | — | — |
| Pretax Income | $4.23B 17.2% | $4.65B 19.5% | $5.04B 21.1% | $7.15B 26.8% | $6.51B 26.3% | $4.50B 20.2% | $3.31B 18.5% | $2.96B 14.9% | $2.54B 13.9% | $2.61B 15.5% |
| Income Tax Expense | $633.0M 2.6% | $747.0M 3.1% | $823.0M 3.4% | $818.0M 3.1% | $1.06B 4.3% | $849.0M 3.8% | $873.0M 4.9% | $556.0M 2.8% | $371.0M 2.0% | $457.9M 2.7% |
| Net Income | $3.61B 14.7% | $3.90B 16.3% | $4.76B 19.9% | $7.21B 27.1% | $6.43B 25.9% | $3.65B 16.4% | $3.01B 16.8% | $2.65B 13.3% | $2.49B 13.6% | $2.55B 15.1% |
| Per Share | ||||||||||
| EPS (Basic) | $5.07 | $5.33 | $6.44 | $9.80 | $8.77 | $4.97 | $4.11 | $3.78 | $3.58 | $3.69 |
| EPS (Diluted) | $5.05 | $5.29 | $6.38 | $9.66 | $8.61 | $4.89 | $4.05 | $3.74 | $3.53 | $3.65 |
| Weighted Avg Shares (Basic) | 712.7M | 731.0M | 736.5M | 725.1M | 714.6M | 706.2M | 715.0M | 700.6M | 695.8M | 691.2M |
| Weighted Avg Shares (Diluted) | 716.1M | 737.2M | 743.1M | 737.1M | 736.8M | 718.7M | 725.5M | 710.2M | 706.1M | 699.8M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
EOD close · as of 2026-09-17
Where each multiple sits in its own 14-yr range · 70th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 37.9 | 44.3 | 44.0 | 38.6 | 39.2 | 41.3 | 40.5 | 40.9 |
| Gross Profit | 47.8 | 55.7 | 56.0 | 61.4 | 60.8 | 58.7 | 59.5 | 59.1 |
| R&D | 5.3 | 6.3 | 6.0 | 6.0 | 5.7 | 6.3 | 6.6 | 6.5 |
| SG&A | 27.1 | 31.2 | 30.9 | 27.5 | 26.7 | 30.7 | 32.5 | 33.5 |
| Operating Income | 15.4 | 18.3 | 19.0 | 25.7 | 28.3 | 21.8 | 20.4 | 19.1 |
| Income Tax | 2.8 | 4.9 | 3.8 | 4.3 | 3.1 | 3.4 | 3.1 | 2.6 |
| Net Income | 13.3 | 16.8 | 16.4 | 25.9 | 27.1 | 19.9 | 16.3 | 14.7 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on DHR: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 1085 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BCAX | $1.24T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.02T | 49.6× | — | 15.7× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $894.1B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $650.5B | 24.5× | — | 6.9× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $467.1B | 111.9× | 33.4× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $362.6B | 19.9× | — | 5.6× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $340.0B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $257.7B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $244.5B | 36.5× | 31.5× | 5.5× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $204.6B | 26.7× | 17.6× | 5.6× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $187.3B | 22.3× | 20.4× | 6.4× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.0B | 27.5× | 19.2× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $156.1B | 20.2× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $150.2B | 42.1× | 31.0× | 6.1× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $136.2B | 48.7× | 37.5× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $130.4B | 33.5× | 28.6× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $127.8B | 18.2× | — | 2.6× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.5B | 24.8× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| LGVN | $117.4B | — | — | 97924.4× | -49.9% | 67.0% | -1894% | -400% | -400% | — | 31 |
| CVS | $114.7B | 64.9× | 11.5× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $108.8B | 33.9× | 18.7× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $103.4B | 23.1× | 16.3× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.4B | 15.1× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.4B | 16.4× | 15.5× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $81.0B | 18.7× | 19.4× | 5.7× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
Peers = companies sharing DHR's sector (Healthcare) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.