DanaherFRA:DAP +3.45%77 Return-on-Tangible-Asset is 17.96% as of Mar. 2026, which is 7% below its 10-year median of 19.35. GuruFocus rates FRA:DAP with a GF Score™ of 77/100 and a GF Value™ of €207.23 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 213 Medical Diagnostics & Research companies, Danaher ranks better than 90.61% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Danaher's annualizedNet Income for the quarter that ended in Mar. 2026 was €3,560 Mil. Danaher's average total tangible assets for the quarter that ended in Mar. 2026 was €19,818 Mil. Therefore, Danaher's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 17.96%.
The historical rank and industry rank for Danaher's Return-on-Tangible-Asset or its related term are showing as below:
FRA:DAP'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 13.49 Med: 19.35 Max: 33.32
Current: 17.82
During the past 13 years, Danaher's highest Return-on-Tangible-Asset was 33.32%. The lowest was 13.49%. And the median was 19.35%.
FRA:DAP's Return-on-Tangible-Asset is ranked better than 90.61% of 213
companies
in the Medical Diagnostics & Research industry
Industry Median: -2.25
vs FRA:DAP: 17.82
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Danaher Return-on-Tangible-Asset Related Terms
Danaher Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Danaher's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:DAP vs TMO, IDXX, A: Return-on-Tangible-Asset Comparison
For the Diagnostics & Research subindustry, Danaher's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Danaher Return-on-Tangible-Asset vs Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, Danaher's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Danaher's Return-on-Tangible-Asset falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 17.96% mean?
Danaher (FRA:DAP) has a Return-on-Tangible-Asset of 17.96% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Danaher and its competitors. This is near median its historical median of 19.35. Over the past decade, Danaher's Return-on-Tangible-Asset has ranged from 13.49 to 33.32. According to the industry distribution chart, Danaher ranks #20 out of 213 companies in the Medical Diagnostics & Research industry, placing it in the top 9.4%.
Is Danaher's Return-on-Tangible-Asset too high?
Danaher's current Return-on-Tangible-Asset of 17.96% is near median its 10-year median of 19.35. Over the past 10 years, this metric has ranged from a low of 13.49 to a high of 33.32. Based on the distribution chart, Danaher ranks #20 out of 213 companies in the Medical Diagnostics & Research industry, which is in the top quartile — a strong position relative to peers. Overall, Danaher has a GF Score™ of 77/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Danaher's Return-on-Tangible-Asset compare to TMO and IDXX?
According to the Medical Diagnostics & Research industry distribution chart, Danaher ranks #20 out of 213 companies for Return-on-Tangible-Asset. This places Danaher in the top 9% of its industry — outperforming the majority of peers. Historically, Danaher's own Return-on-Tangible-Asset has ranged from 13.49 to 33.32 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Medical Diagnostics & Research company?
A good Return-on-Tangible-Asset depends on the Medical Diagnostics & Research industry context. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Danaher and its competitors. Danaher's current Return-on-Tangible-Asset is 17.96%, which is near median its own 10-year median of 19.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Danaher stock overvalued right now?
Based on GuruFocus' analysis, Danaher (FRA:DAP) is currently considered Modestly Undervalued. The stock's GF Value™ is €207.23, compared to a current price of €173.70 — trading 16.2% below its estimated fair value. The current Return-on-Tangible-Asset is 17.96%, which is near median its 10-year median of 19.35. Danaher's overall GF Score™ is 77/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Danaher (FRA:DAP), the current Return-on-Tangible-Asset is 17.96% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Danaher (FRA:DAP) Overvalued in 2026?
Based on GuruFocus' analysis, Danaher stock appears to be undervalued.
The current stock price of €173.70 is trading 16.2% below its estimated GF Value™ of €207.23.
GuruFocus considers Danaher to be Modestly Undervalued.
Key valuation signals for FRA:DAP:
Return-on-Tangible-Asset: 17.96% (near median its 10-year median of 19.35)
GF Value™: €207.23 vs. price of €173.70 (16.2% below fair value)
No single metric tells the full story. See the FRA:DAP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
In 1984, Danaher's founders transformed a real estate organization into an industrial-focused manufacturing company. Then, through a series of mergers, acquisitions, and divestitures, Danaher now focuses primarily on manufacturing scientific instruments and consumables in the life sciences and diagnostic industries after the late 2023 divestiture of its environmental and applied solutions group, Veralto.
77GF Score
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