Company: DHR
Filing Date: 2025-03-26
Form Type: ARS
Source: 0000313616-25-000085
Chunk: 2

Company: DANAHER CORP /DE/
Filing Date: 2025-03-26
Form: ARS
Chunk 2
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 Sefia cell therapy manufacturing platform is addressing critical cost and capacity constraints in CAR T cell therapy manufacturing—helping expand patient access to these life-saving treatments. In our Life Sciences segment, Beckman Coulter Life Sciences introduced the Cydem VT cell culture system, which simplifies and accelerates cell line development, helping pharmaceutical researchers to bring new therapies to market faster. In our Diagnostics segment, Beckman Coulter Diagnostics expanded the immunoassay testing capabilities of their DxI 9000 next-generation immunoassay analyzer. With industry-leading sensitivity, the DxI 9000 is paving the way for precision medicine, offering the potential to help address unmet needs relating to Alzheimer’s and other diseases. 20191 2024 Long Term Core Revenue Growth (anticipated) Mid-single digit High-single digit Gross Profit Margin 55.7% 59.5% Adjusted Operating Profit Margin 22.3% 28.6% Free Cash Flow $3.0 billion $5.3 billion Portfolio Transformation 1 Items above reflect continuing operations as reported in 2019, which include Veralto.

We are also expanding our capabilities in Artificial Intelligence (AI), appointing Dr. Martin Stumpe as Danaher’s first Chief Data & Artificial Intelligence Officer. With AI playing an increasing role in scientific discovery and healthcare innovation, we are committed to leading the way—harnessing its potential to drive innovation, accelerate growth, and transform patient care. Martin’s expertise in applying AI to scientific and operational challenges will be instrumental in advancing these efforts. Strategic Capital Deployment Strong free cash flow generation is a hallmark of Danaher, and 2024 marks the 33rd consecutive year our free cash flow to net income conversion ratio exceeded 100%— a testament to the differentiated quality of our earnings and business models. Our disciplined approach to deploying our cash flow is focused on compounding returns over time to maximize long term value. In 2024 and into the start of 2025, we deployed approximately $7 billion of capital towards the repurchase of Danaher common stock. We believe these repurchases will provide an attractive return given our long-term revenue growth, earnings and cash flow outlook. M&A remains our bias for capital deployment and we remained active during the year, completing several strategic acquisitions. These acquisitions brought innovative technologies and solutions that further strengthen our competitive advantages and help position us for sustained long-term performance. Looking ahead, our significant free cash flow, strong balance sheet, and deep M&A expertise position