Enterprise Value to EBITDA (EV/EBITDA)
Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
Danaher Corp., EBITDA calculation
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
| Item | Description | The company |
|---|---|---|
| EBITDA | To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. | Danaher Corp. EBITDA decreased from 2022 to 2023 and from 2023 to 2024. |
Enterprise Value to EBITDA Ratio, Current
Danaher Corp., current EV/EBITDA calculation, comparison to benchmarks
| Selected Financial Data (US$ in millions) | |
| Enterprise value (EV) | 162,558) |
| Earnings before interest, tax, depreciation and amortization (EBITDA) | 7,276) |
| Valuation Ratio | |
| EV/EBITDA | 22.34 |
| Benchmarks | |
| EV/EBITDA, Competitors1 | |
| AbbVie Inc. | 27.92 |
| Amgen Inc. | 15.59 |
| Bristol-Myers Squibb Co. | 7.27 |
| Eli Lilly & Co. | 56.36 |
| Gilead Sciences Inc. | 14.75 |
| Johnson & Johnson | 16.00 |
| Merck & Co. Inc. | 36.17 |
| Pfizer Inc. | 21.58 |
| Regeneron Pharmaceuticals Inc. | 13.12 |
| Thermo Fisher Scientific Inc. | 19.89 |
| Vertex Pharmaceuticals Inc. | 24.52 |
| EV/EBITDA, Sector | |
| Pharmaceuticals, Biotechnology & Life Sciences | 23.04 |
| EV/EBITDA, Industry | |
| Health Care | 19.49 |
Based on: 10-K (reporting date: 2024-12-31).
1 Click competitor name to see calculations.
If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.
Enterprise Value to EBITDA Ratio, Historical
Danaher Corp., historical EV/EBITDA calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Enterprise value (EV)1 | 162,558) | 197,948) | 197,582) | 210,569) | 174,606) | |
| Earnings before interest, tax, depreciation and amortization (EBITDA)2 | 7,276) | 7,496) | 10,725) | 10,004) | 6,545) | |
| Valuation Ratio | ||||||
| EV/EBITDA3 | 22.34 | 26.41 | 18.42 | 21.05 | 26.68 | |
| Benchmarks | ||||||
| EV/EBITDA, Competitors4 | ||||||
| AbbVie Inc. | 26.97 | 20.79 | 13.31 | 13.44 | 21.34 | |
| Amgen Inc. | 15.31 | 14.13 | 12.97 | 13.22 | 12.24 | |
| Bristol-Myers Squibb Co. | — | 6.51 | 9.46 | 8.65 | 34.35 | |
| Eli Lilly & Co. | 55.98 | 85.33 | 37.74 | 29.85 | 23.67 | |
| Gilead Sciences Inc. | — | 10.41 | 13.89 | 8.57 | 24.90 | |
| Johnson & Johnson | 15.77 | 16.45 | 14.78 | 14.47 | 18.20 | |
| Merck & Co. Inc. | — | 51.30 | 13.91 | 12.18 | 16.05 | |
| Pfizer Inc. | — | 22.50 | 6.12 | 8.64 | 15.78 | |
| Regeneron Pharmaceuticals Inc. | 13.55 | 20.16 | 15.27 | 6.68 | 12.70 | |
| Thermo Fisher Scientific Inc. | 19.89 | 21.83 | 20.25 | 20.21 | 18.72 | |
| Vertex Pharmaceuticals Inc. | — | 21.57 | 14.91 | 18.92 | 14.81 | |
| EV/EBITDA, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | — | 22.59 | 13.58 | 13.16 | 18.90 | |
| EV/EBITDA, Industry | ||||||
| Health Care | — | 18.98 | 13.71 | 13.87 | 16.50 | |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
3 2024 Calculation
EV/EBITDA = EV ÷ EBITDA
= 162,558 ÷ 7,276 = 22.34
4 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| EV/EBITDA | Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. | Danaher Corp. EV/EBITDA ratio increased from 2022 to 2023 but then slightly decreased from 2023 to 2024 not reaching 2022 level. |