DHR
Danaher Corporation
DHR has slightly lower modeled downside risk, despite its lower overall score.
LLY
Eli Lilly and Company
LLY has the edge over DHR overall, supported by stronger fundamentals and stronger valuation.
DHR Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Stable |
DHR's profitability and cash flow are currently strong, and its revenue and balance sheet are stable.
LLY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
LLY's revenue, profitability, cash flow and balance sheet are all currently healthy.
DHR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 26x | $232 | — |
| Cheap | 29x | $180 | -22% |
| Current | 38x | $232 | — |
| Fair | 39x | $239 | +2.8% |
| Expensive | 45x | $276 | +19% |
Historical ranges are pointers, not guarantees.
DHR has the edge over LLY in the historical PE scenario, which offers more potential upside but is not a forecast.
LLY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 27x | $845 | -41% |
| Forward | 30x | $1,427 | — |
| Current | 46x | $1,427 | — |
| Fair | 48x | $1,466 | +2.7% |
| Expensive | 85x | $2,612 | +83% |
Historical ranges are pointers, not guarantees.
LLY's PE is in its fair range at 46x. If earnings grow as analysts expect, today's price would be 30x next year's earnings, in its cheap range.
DHR Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Moderate | |
| High |
Analysts expect earnings and revenue growth for DHR, with profitability improving.
LLY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for LLY, with profitability improving.
DHR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.09 | +49% |
| Q3 2026 | $6.12 | +26% |
| Q2 2026 | $5.64 | +20% |
| Q1 2026 | $5.18 | +0.4% |
| Q4 2025 | $5.05 | -4.5% |
| Q3 2025 | $4.86 | -7.3% |
| Q2 2025 | $4.71 | -16% |
| Q1 2025 | $5.16 | -13% |
| Q4 2024 | $5.29 | -17% |
DHR's earnings per share have fallen from their peak: $6.12 over the past year, against $9.66 in late 2022.
LLY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $46.82 | +52% |
| Q3 2026 | $30.81 | +51% |
| Q2 2026 | $29.80 | +95% |
| Q1 2026 | $28.15 | +129% |
| Q4 2025 | $22.95 | +96% |
| Q3 2025 | $20.44 | +121% |
| Q2 2025 | $15.30 | +88% |
| Q1 2025 | $12.29 | +81% |
| Q4 2024 | $11.71 | +102% |
LLY has the edge over DHR on earnings, with more consistent year-over-year improvement.
DHR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $6.6B | +8.3% |
| Q2 2026 | $6.3B | +5.5% |
| Q1 2026 | $6B | +3.7% |
| Q4 2025 | $6.8B | +4.6% |
| Q3 2025 | $6.1B | +4.4% |
| Q2 2025 | $5.9B | +3.4% |
| Q1 2025 | $5.7B | -0.9% |
| Q4 2024 | $6.5B | +2.1% |
DHR's revenue is recovering but still below its 2022 peak: $6.6B last quarter, up 8.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | -0.1 points |
| Q2 2026 | 18% | +5.2 points |
| Q1 2026 | 23% | +0.4 points |
| Q4 2025 | 22% | +0.2 points |
| Q3 2025 | 19% | +2.5 points |
| Q2 2025 | 13% | -7.5 points |
| Q1 2025 | 22% | -0.4 points |
| Q4 2024 | 22% | +0.9 points |
DHR's operating margin was 19% last quarter, about level with the same quarter a year ago.
LLY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $24.4B | +39% |
| Q2 2026 | $23B | +48% |
| Q1 2026 | $19.8B | +56% |
| Q4 2025 | $19.3B | +43% |
| Q3 2025 | $17.6B | +54% |
| Q2 2025 | $15.6B | +38% |
| Q1 2025 | $12.7B | +45% |
| Q4 2024 | $13.5B | +45% |
LLY has the edge over DHR on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 34% | -6.6 points |
| Q2 2026 | 40% | -3.3 points |
| Q1 2026 | 45% | +18 points |
| Q4 2025 | 43% | +5.6 points |
| Q3 2025 | 41% | +27 points |
| Q2 2025 | 44% | +12 points |
| Q1 2025 | 27% | -1.8 points |
| Q4 2024 | 37% | +10 points |
LLY has the edge over DHR on profitability, with a higher operating margin.
DHR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.6B | +19% |
| Q2 2026 | $1.3B | +16% |
| Q1 2026 | $1.1B | +2.9% |
| Q4 2025 | $1.7B | +16% |
| Q3 2025 | $1.4B | +13% |
| Q2 2025 | $1.1B | -3.5% |
| Q1 2025 | $1.1B | -27% |
| Q4 2024 | $1.5B | +24% |
DHR's free cash flow has been positive every quarter for seven years: $5.7B over the past year, up 14% from the year before.
LLY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $8.2B | +22% |
| Q2 2026 | $7.8B | +458% |
| Q1 2026 | $3B | +1826% |
| Q4 2025 | $677.9M | -31% |
| Q3 2025 | $6.7B | +186% |
| Q2 2025 | $1.4B | +476% |
| Q1 2025 | $156.1M | -13% |
| Q4 2024 | $977.8M | +$2.4B |
LLY generated $19.7B in free cash flow over the past year, up 112% from the year before.
DHR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -800K shares |
| 1 year | -1% | -6.9M shares |
| 3 years | -5.2% | -39.1M shares |
| 5 years | -2.8% | -20.2M shares |
| Available history | -2.6% | -18.7M shares |
DHR has the edge over LLY on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $894M |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | $2B |
| Q2 2025 | — |
| Q1 2025 | $1.1B |
| Q4 2024 | $809M |
DHR spent $894M buying back its own shares over the past year, down 77% from the year before.
LLY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -300K shares |
| 1 year | -0.6% | -5.4M shares |
| 3 years | -0.7% | -6.4M shares |
| 5 years | -1.9% | -17.4M shares |
| Available history | -4.5% | -42.3M shares |
LLY has 893M diluted shares, down 0.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $377M |
| Q2 2026 | $1.6B |
| Q1 2026 | $2.4B |
| Q4 2025 | $1.5B |
| Q3 2025 | $708.1M |
| Q2 2025 | $692.2M |
| Q1 2025 | $1.2B |
| Q4 2024 | $2.1B |
LLY spent $5.8B buying back its own shares over the past year, up 26% from the year before.
DHR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.7x | Moderate |
| Q2 2026 | 2.9x | Moderate |
| Q1 2026 | 1.8x | Healthy |
| Q4 2025 | 1.9x | Healthy |
| Q3 2025 | 2.2x | Moderate |
| Q2 2025 | 2.1x | Moderate |
| Q1 2025 | 2.0x | Moderate |
| Q4 2024 | 1.9x | Healthy |
DHR's net debt is about 2.6 years of its operating earnings (EBITDA), up from 2.2 years a year ago.
LLY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.2x | Healthy |
| Q2 2026 | 1.3x | Healthy |
| Q1 2026 | 1.2x | Healthy |
| Q4 2025 | 1.3x | Healthy |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 2.0x | Healthy |
| Q1 2025 | 2.3x | Moderate |
| Q4 2024 | 2.1x | Moderate |
LLY has the edge over DHR on leverage, with a lower net debt burden relative to earnings.
DHR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 62.3 | Neutral |
| Stochastic | 84.4 | Overbought |
DHR's weekly RSI is 62 (neutral) and its Stochastic is 84 (overbought).
LLY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.3 | Neutral |
| Stochastic | 84.1 | Overbought |
LLY's weekly RSI is 68 (neutral) and its Stochastic is 84 (overbought).
DHR PE vs Healthcare Sector
| Metric | DHR | Sector median | Relative |
|---|---|---|---|
| PE | 38x | 26x | 47% above |
| PE % | 42 | 29 | 13 pts above |
DHR has the edge over LLY on valuation relative to its sector.
LLY PE vs Healthcare Sector
| Metric | LLY | Sector median | Relative |
|---|---|---|---|
| PE | 46x | 26x | 79% above |
| PE % | 48 | 29 | 19 pts above |
LLY is trading at 46x earnings, a 79% premium to the Healthcare sector's median of 26x.
DHR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $226.6 | 2.5% above |
| 20 week MA | $213.1 | 9% above |
| 50 week MA | $205.7 | 13% above |
| 100 week MA | $206.5 | 12% above |
| 200 week MA | $221.0 | 5.1% above |
DHR has climbed back above all five of its weekly moving averages, and it's now 5.1% above its 200-week average.
LLY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,279.4 | 12% above |
| 20 week MA | $1,218.8 | 17% above |
| 50 week MA | $1,102.2 | 29% above |
| 100 week MA | $954.1 | 50% above |
| 200 week MA | $797.5 | 79% above |
LLY is in an uptrend: it's above all five of its weekly moving averages, and 79% above its 200-week average.
DHR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $135.5 | $196.3 | +45% |
| 2021 | $196.3 | $284.4 | +45% |
| 2022 | $284.4 | $230.3 | -19% |
| 2023 | $230.3 | $231.3 | +0.4% |
| 2024 | $231.3 | $231.1 | -0.1% |
| 2025 | $231.1 | $230.3 | -0.3% |
| 2026 YTD | $230.3 | $232.2 | +0.8% |
DHR has finished lower in three of the last six years. It's up 0.8% so far in 2026.
LLY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $131.5 | $166.7 | +27% |
| 2021 | $166.7 | $273.1 | +64% |
| 2022 | $273.1 | $367.9 | +35% |
| 2023 | $367.9 | $582.9 | +58% |
| 2024 | $582.9 | $783.2 | +34% |
| 2025 | $783.2 | $1,077.8 | +38% |
| 2026 YTD | $1,077.8 | $1,427.3 | +32% |
LLY has the edge over DHR on returns for 2026, with the stronger performance.