Danaher Corporation

Danaher’s capital allocation has compounded value for decades: high‑impact, domain‑centric acquisitions, disciplined integration via DBS, and periodic portfolio pruning. Notable transactions include Pall (2015), GE Biopharma rebranded as Cytiva (2020), Aldevron (2021), and Abcam (closed Dec 2023).

In 2024-2025, management complemented reinvestment with material buybacks under the 2024 repurchase program, retiring roughly 14.5 million shares in the first nine months of 2025 and more thereafter, while maintaining balance sheet flexibility. Dividends are modest and consistent with a reinvestment‑first playbook.

Track record and incentives are aligned with long‑term value creation.