UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________ FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-08089 DANAHER CORPORATION (Exact name of registrant as specified in its charter) Delaware 59-19 ...

Group 1: Market Overview - In the fourth quarter of 2025, the S&P 500 returned 2.65%, leading to a full-year return of 17.9% for 2025, with annual growth of over 21% over the last three years [1] - Market leadership was characterized by High Beta and Momentum factors, with narrow participation, although sectors like Healthcare, Financials, and Consumer Discretionary showed slight improvements [1] - Mega-cap technology companies remained the primary drivers of the S&P 500's overall return, indicating high stock concentration [1] Group 2: Madison Large Cap Fund Performance - The Madison Large Cap Fund (Class I) appreciated 3.43% in the fourth quarter, outperforming the S&P 500 Index's return of 2.65% [1] - The fund's top five contributors for the quarter included Alphabet Inc. (NASDAQ:GOOG), Parker-Hannifin, Keysight Technologies, Danaher, and PACCAR [3] Group 3: Alphabet Inc. (NASDAQ:GOOG) Insights - Alphabet Inc. (NASDAQ:GOOG) is a significant contributor to the Madison Large Cap Fund's performance, with its stock closing at $311.69 per share and a market capitalization of $3.771 trillion on February 23, 2026 [2] - The company achieved its first-ever $400 billion annual revenue in 2025, and its shares gained 75.73% of their value over the last 52 weeks, despite a one-month return of -6.96% [5] - Alphabet's main businesses, including Search, YouTube, and Cloud, continued to accelerate, and the release of new AI models has bolstered investor confidence in its growth potential [3]

Danaher's $9.9B Masimo Deal Marks One of 2026's Largest Medtech Buyouts - 24/7 Wall St.[S&P 5006,861.20 +0.14%][Dow Jones49,577.50 +0.02%][Nasdaq 10024,777.60 +0.23%][Russell 20002,646.82 -0.04%][FTSE 10010,665.40 +0.86%][Nikkei 22557,180.50 +0.22%][Investing]# Danaher's $9.9B Masimo Deal Marks One of 2026's Largest Medtech Buyouts### Quick ReadDanaher (DHR) is acquiring Masimo for $9.9B at $180 per share. This represents a 40% premium.Masimo shares jumped 30.27% toward the deal price. Danaher stock fell 6. ...

And right now we are 2 minutes away from the end of the trading day. Romaine Bostick here alongside Katie Greifeld, taking you through to that closing bell with a global simulcast. Carol Massar Tim Stenovec Join us now as we welcome our audiences across all of our Bloomberg platforms, Television, radio, our partnership with you to the past, the most crucial moments here in the trading day.Carol Massar ten. Senator, great to see you once again here on this Tuesday afternoon. Did you bring us back any Olympic ...

Market Overview - The S&P 500 and other major indices experienced a mixed trading day, with the S&P 500 and Dow finishing up about 0.1% each, while the Nasdaq composite also rose by 0.1%, but the Nasdaq 100 closed down by 0.1% [6][7] - Overall, the market showed indecisiveness, fluctuating between gains and losses throughout the day, indicating a "wait and see" approach among investors [5][6] Sector Performance - Real estate was the biggest gainer among sectors, increasing by 1%, while financials also performed well, and tech rose by approximately 0.5% [9] - Consumer staples were the largest losers, declining by 1.5%, followed closely by energy, which fell by 1.4% [10] Earnings Reports - Caesars Entertainment reported a fourth-quarter loss of $1.23 per share, with net revenue of $2.92 billion, slightly above the street estimate of $2.89 billion [11] - Norwegian Cruise Line was the top gainer in the S&P 500, rising by about 12% after Elliott Investment Management acquired a more than 10% stake and urged changes to unlock significant shareholder value [13] - Masimo saw a 34% increase in its stock price after Danaher announced its acquisition for $80 per share, representing a 40% premium over the previous close, with a total enterprise value of approximately $9.9 billion [14] - TripAdvisor's stock rose by about 9% following a letter from Starboard Value highlighting underperformance and plans to nominate a majority slate of directors [14] - Genuine Parts Company, the owner of Napa Auto Parts, fell by over 14.5% after reporting fourth-quarter earnings that missed expectations and announcing plans to split into two public companies [18] - General Mills' stock dropped by 7% after the company lowered its fiscal 2026 outlook due to a challenging consumer environment [24] Guidance and Future Outlook - Cadence Design reported adjusted EPS of $0.99, beating expectations, and provided full-year revenue guidance of $5.9 billion to $6 billion, aligning with street estimates [16] - Palo Alto Networks projected full-year adjusted EPS between $3.65 and $3.70, below the estimate of $3.87, with revenue guidance of $1.28 billion to $1.31 billion [21]

Core Viewpoint - Masimo Corporation (MASI) has agreed to be acquired, which is a significant development for the company and its investors [1] Group 1: Acquisition Details - The acquisition of Masimo Corporation is expected to create synergies that could benefit the company in the long term [1] Group 2: Investor Perspective - Investors are encouraged to consider the implications of the acquisition on their investment strategies, particularly in terms of growth, value, and dividend-paying stocks [1]

Market Overview - The U.S. markets closed with a narrow majority of stocks declining, with 51.7% (2,868 issues) down, while major indexes saw modest gains: Nasdaq (+0.14%), S&P 500 (+0.10%), and Dow (+0.07%) [2] - The Russell 2000 experienced a slight decline of about a tenth of a point [2] Sector Performance - Only three S&P 500 sectors finished in the green: real estate (+1%), financials (+0.99%), and industrials (+0.45%) [3] Earnings Reports - A number of companies reported earnings, with many showing declines in stock prices despite the market being balanced between advancers and decliners. Notable companies and their performance include: - Palo Alto Networks Inc. (PANW): Market Cap $131.61 billion, P/E 103.30, Price $162.87, Change -2.44% [4] - Cadence Design Systems, Inc (CDNS): Market Cap $77.53 billion, P/E 73.49, Price $284.81, Change -4.89% [4] - Republic Services, Inc. (RSG): Market Cap $68.98 billion, P/E 33.12, Price $222.84, Change -0.15% [4] - EQT Corp (EQT): Market Cap $36.07 billion, P/E 19.72, Price $57.80, Change -1.53% [4] - Kenvue Inc. (KAUE): Market Cap $35.52 billion, P/E 24.92, Price $18.54, Change -0.86% [4] Notable Movers - Masimo Corp was the top performer, increasing by 34.5% after Danaher announced an acquisition for $9.9 billion, or $180 per share [6] - IPG Photonics Corp saw a decline of 14.7% following a strong earnings report, indicating a pullback from recent highs [7]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Danaher agrees to buy US medical tech firm Masimo, in a deal with an enterprise value of about $9.9 billion https://t.co/jGRR4NSga7 ...

Core Viewpoint - Danaher is set to acquire Masimo, a pulse oximeter manufacturer, for $9.9 billion, aiming to enhance its diagnostics portfolio [1] Company Summary - The acquisition reflects Danaher's strategy to expand its capabilities in the diagnostics sector [1] - Masimo specializes in non-invasive monitoring technologies, particularly pulse oximetry, which is critical for patient care [1] Industry Summary - The deal signifies a trend in the healthcare industry where companies are consolidating to strengthen their product offerings in diagnostics [1] - The acquisition is expected to position Danaher more competitively in the growing market for medical devices and monitoring solutions [1]