# Danaher (DHR.US)

Canonical: https://gigainvestors.com/s/DHR

Analysis as of: 2026-10-16T07:28:00.638Z. Financial observations: FY1996–FY2026.

Listing currency: USD. Reporting currency: USD.

## Verdict

A wonderful business at too high a price

Quality tests for Buy: pass (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: $231.50 per share; close as of 2026-10-15.

Estimated value: low $95.77 per share, central $108.22 per share, high $124.79 per share. Buy at or below the central value $108.22 per share. Valuation as of 2026-10-16T07:28:00.638Z; scenarios are not confidence intervals.

Expected annual return: 6.1% at the stated quote. About 6.1% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; US 10-year bond 5.1% + 4 points).

## Checklist

### understandable: pass

- 4 revenue declines in the last 10 years (informational)

- Financial history: 10 years

- Years with declining revenue: 4

- Years with a net loss: 0

- Operating margin variation: 0.17×

Chart: Operating margin; fiscal year observations.

- FY2017: 0.17×

- FY2018: 0.18×

- FY2019: 0.19×

- FY2020: 0.19×

- FY2021: 0.27×

- FY2022: 0.28×

- FY2023: 0.22×

- FY2024: 0.22×

- FY2025: 0.21×

- LTM to Jun 2026: 0.20×

### moat: pass

- ROIC, median of available years: 19.0%

- ROIC, second-lowest year: 17.1%

- Typical minus recent gross margin: -2.1 pp

- Typical gross margin (annual median): 57.4%

- Recent gross margin (lower of latest and 3-year median): 59.5%

- Years with nonpositive capital: 0

- Capital spending / revenue: 3.9%

- ROIC including acquisitions, ten-year median: 8.6%

Chart: ROIC excluding acquisitions; fiscal year observations.

- FY2016: 23.5%

- FY2017: 18.3%

- FY2018: 17.1%

- FY2019: 24.3%

- FY2020: 17.1%

- FY2021: 24.7%

- FY2022: 24.3%

- FY2023: 19.1%

- FY2024: 18.0%

- FY2025: 18.9%

### economics: pass

- Owner earnings / net income, 5-yr: 1.19×

- Cash conversion uses consolidated totals: No

- Owner earnings, five-year total: $31B

- Net income, five-year total: $26B

- Return on incremental invested capital: >100%

- Working capital / revenue, annual change: 0.1 pp

- Working capital / revenue, change between three-year averages: 0.7 pp

- Working capital / revenue, final three-year average: 20.7%

Chart: Annual owner cash / profit; fiscal year observations.

- FY2021: 1.14×

- FY2022: 1.14×

- FY2023: 1.17×

- FY2024: 1.25×

- FY2025: 1.36×

### management: pass

- Historical market-dollar context (not the management verdict): 2016 to 2025 (9 years)

- buybacks leaned toward cheaper years (informational)

- ROIC first 3 years vs last 3 years: 18.3% vs 18.9%

- Per-share earnings: 3.24 to 5.29 (three-year endpoint medians)

- Management verdict uses per-share economic progress: Yes

- Ordinary dilution, 10-year annual growth: -1.1%

- Ordinary dilution, 5-year annual growth: -2.5%

- Market cap gain: $108B

- Cumulative retained earnings: $26B

- Diluted shares, 10-year annual growth: -1.1%

- Diluted shares, 5-year annual growth: -2.5%

- $1 test, starting fiscal year: FY2016

- $1 test, ending fiscal year: FY2025

- Per-share value growth: 6.3%

- Per-share value change: $2.05

- Per-share value, starting three-year median: $3.24

- Per-share value, ending three-year median: $5.29

- Buybacks concentrated in cheaper years (correlation): 1.00

- Average buyback yield: 2.8%

- Buyback history: 2 years

- Debt-funded buybacks: No

- Acquisition spending: $40B

- Cumulative net income, 10 years: $40B

- ROIC, first three-year median: 18.3%

- ROIC, last three-year median: 18.9%

Chart: Earnings per share; fiscal year observations.

- FY2016: $3.24

- FY2017: $3.13

- FY2018: $3.31

- FY2019: $3.12

- FY2020: $4.50

- FY2021: $8.73

- FY2022: $9.78

- FY2023: $6.38

- FY2024: $5.29

- FY2025: $5.05

### accounting: pass

- Sloan accruals: -3.4%

- Receivables to sales index (DSRI): 0.87×

- Restructuring years, last five: 0

- Stock compensation / operating cash flow: 4.6%

- Earnings backed by cash: Yes

- Operating cash / earnings: 1.78×

- Accounting red flags: 0

- Goodwill and intangibles / equity: 1.16×

Chart: Sloan accruals; fiscal year observations.

- FY2016: -2.1%

- FY2017: -2.1%

- FY2018: -2.9%

- FY2019: -2.2%

- FY2020: -3.4%

- FY2021: -2.3%

- FY2022: -1.6%

- FY2023: -2.9%

- FY2024: -3.6%

- FY2025: -3.4%

## Holders

- [Pat Dorsey](https://gigainvestors.com/DA): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [David Hoeft](https://gigainvestors.com/DAC): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Steven Romick](https://gigainvestors.com/FPA): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Bill Gates](https://gigainvestors.com/GFT): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Bill Nygren](https://gigainvestors.com/HA): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [David Katz](https://gigainvestors.com/MAVFX): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Andrew Adams](https://gigainvestors.com/MPF): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Robert Torray](https://gigainvestors.com/T): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Chase Coleman](https://gigainvestors.com/TGM): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Arnold Van Den Berg](https://gigainvestors.com/VAN): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Wallace Weitz](https://gigainvestors.com/WIM): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Daniel Loeb](https://gigainvestors.com/tp): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 21% since Dec 2021 · "Danaher posts better-than-expected earnings, but its core revenue forecast disappoints and send shares tumbling." (finance.yahoo.com, Jul 2026) · sales +2.2%

Story as of 2026-10-16T09:58:38.129Z; price observation 2026-10-15.

Price needs cash profits to grow 10.8% a year for ten years

- 2025-10-21: Danaher Sales and Profit Rise on Bioprocessing Momentum ([finance.yahoo.com](https://finance.yahoo.com/m/91f25254-ebd3-3465-a698-c7f5fc19f4c7/danaher-sales-and-profit-rise.html))

- 2026-04-21: Danaher falls on revenue miss despite earnings beat ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/danaher-falls-revenue-miss-despite-104323330.html))

- 2026-05-17: Danaher Masimo Deal Shifts Growth Outlook And Investor Focus ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/danaher-masimo-deal-shifts-growth-151257359.html))

- 2026-07-21: Danaher Lifts Full-Year Profit Outlook Following Second-Quarter Beat, Tempers Sales Guidance ([finance.yahoo.com](https://finance.yahoo.com/healthcare/articles/danaher-lifts-full-profit-outlook-143240309.html))

### Sales · FY2025–2026

sales +2.2%; source https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm; observed 2026-02-24.

- FY2017: $18B 

- FY2018: $17B 

- FY2019: $18B 

- FY2020: $22B 

- FY2021: $29B 

- FY2022: $27B 

- FY2023: $24B 

- FY2024: $24B 

- FY2025: $25B 

- FY2026: $25B 

### Gross margin · FY2025

gross margin 60.9%; source https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm; observed 2026-02-24.

- FY2016: 55.6% 

- FY2017: 55.8% 

- FY2018: 55.8% 

- FY2019: 55.7% 

- FY2020: 56.0% 

- FY2021: 61.0% 

- FY2022: 60.8% 

- FY2023: 58.7% 

- FY2024: 59.5% 

- FY2025: 60.9% 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in diagnostics & research; annual sales are USD 24.6 billion.

- Source: https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm (filed 2026-02-24); FY2025: revenue 24568000000; grossProfit 14970000000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); DHR.US: Danaher Corporation designs, manufactures, and markets professional, medical, research, and industrial products and services in the United States, China, and internationally. The company operates through Biotechnology, Life Sciences, and Diagnostics segments. The Biotechnology segment provides technologies, consumables, services, and solutions that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, and aseptic fill finish; single-use hardware, consumables, and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services for diagnostic and assay development; and healthcare filtration solutions. The Life Sciences segment provides mass spectrometers; bioanalytical measurement systems; flow cytometry, genomics, lab automation, centrifugation, liquid handling automation instruments, antibodies and reagents, and particle counting and characterization; genome sample preparation; microscopes; protein consumables; filtration products; and genomic medicines, such as custom nucleic acid products, and plasmid DNA, RNA, and proteins under the ABCAM, ALDEVRON, BECKMAN COULTER, GENEDATA, IDT, LEICA MICROSYSTEMS, MOLECULAR DEVICES, PALL, PHENOMENEX, and SCIEX brands. The Diagnostics segment offers clinical instruments, consumables, software, and services that hospitals, physicians' offices, reference laboratories and other critical care settings use to diagnose disease and make treatment decisions. The company was formerly known as Diversified Mortgage Investors, Inc. and changed its name to Danaher Corporation in 1984. Danaher Corporation was incorporated in 1969 and is headquartered in Washington, the District Of Columbia.

### Why customers stay

Margins ranged from 58.7% to 60.9% during 2023–25; it earns 19% on its capital.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2023: grossProfit / revenue = 58.7%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2024: grossProfit / revenue = 59.5%.

- Source: https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm (filed 2026-02-24); FY2025: grossProfit / revenue = 60.9%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); 10-year return on capital observations [[2016,0.23503674861742996],[2017,0.1827775359208237],[2018,0.17100100752541458],[2019,0.2432551762306903],[2020,0.17070449533380483],[2021,0.24749103222317656],[2022,0.24331340806464744],[2023,0.19145093432199772],[2024,0.18041380498165355],[2025,0.18915752108856063]]; median 0.19030422770527916. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Paid dividends in 10 of 10 years; bought back USD 3.1 billion of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2016: growth capex 0; upkeep 589600000; owner earnings 3092200000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2017: growth capex 0; upkeep 570700000; owner earnings 3159700000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2018: growth capex 0; upkeep 584000000; owner earnings 3244900000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2019: growth capex 0; upkeep 635500000; owner earnings 3111200000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2020: growth capex 0; upkeep 791000000; owner earnings 4630000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2021: growth capex 0; upkeep 1294000000; owner earnings 7307000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2022: growth capex 0; upkeep 1152000000; owner earnings 8189000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2023: growth capex 0; upkeep 1383000000; owner earnings 5526000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2024: growth capex 0; upkeep 1392000000; owner earnings 4859000000. Growth capex / owner earnings = 0.

- Source: https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm (filed 2026-02-24); FY2025: growth capex 0; upkeep 1156000000; owner earnings 4905000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); Dividend observations: [[2016,399800000],[2017,378300000],[2018,433400000],[2019,750700000],[2020,615000000],[2021,742000000],[2022,818000000],[2023,821000000],[2024,768000000],[2025,878000000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm (filed 2026-02-24); FY2025: cash repurchases 3088000000 USD.

### Are managers owners

Insiders own 11% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); DHR.US SharesStats.PercentInsiders = 10.962 percentage points; cache date 2026-10-16.

### What the price says

The price assumes cash profits grow 10.8% yearly over ten years; actual growth was 6.3%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); Ten-year compound average after fade. Initial solved rate 0.14283323647031987. Price 231.5; FX 1; discount 0.1; same standard ten-year fade to terminal 0.03. FY2015 owner earnings/share 3.7097654118930716 → FY2025 6.849602010892333. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2016-11: $69.30 per share

- 2016-12: $69.01 per share

- 2017-01: $74.40 per share

- 2017-02: $75.84 per share

- 2017-03: $75.82 per share

- 2017-04: $73.87 per share

- 2017-05: $75.30 per share

- 2017-06: $74.81 per share

- 2017-07: $72.24 per share

- 2017-08: $73.95 per share

- 2017-09: $76.05 per share

- 2017-10: $81.80 per share

- 2017-11: $83.65 per share

- 2017-12: $82.29 per share

- 2018-01: $89.79 per share

- 2018-02: $86.68 per share

- 2018-03: $86.80 per share

- 2018-04: $88.94 per share

- 2018-05: $88.01 per share

- 2018-06: $87.48 per share

- 2018-07: $90.94 per share

- 2018-08: $91.79 per share

- 2018-09: $96.33 per share

- 2018-10: $88.12 per share

- 2018-11: $97.11 per share

- 2018-12: $91.42 per share

- 2019-01: $98.33 per share

- 2019-02: $112.61 per share

- 2019-03: $117.04 per share

- 2019-04: $117.41 per share

- 2019-05: $117.03 per share

- 2019-06: $126.70 per share

- 2019-07: $124.56 per share

- 2019-08: $125.97 per share

- 2019-09: $128.04 per share

- 2019-10: $122.18 per share

- 2019-11: $129.41 per share

- 2019-12: $136.06 per share

- 2020-01: $142.62 per share

- 2020-02: $128.17 per share

- 2020-03: $122.70 per share

- 2020-04: $144.91 per share

- 2020-05: $147.70 per share

- 2020-06: $156.76 per share

- 2020-07: $180.67 per share

- 2020-08: $183.04 per share

- 2020-09: $190.90 per share

- 2020-10: $203.49 per share

- 2020-11: $199.14 per share

- 2020-12: $196.93 per share

- 2021-01: $210.85 per share

- 2021-02: $194.74 per share

- 2021-03: $199.54 per share

- 2021-04: $225.12 per share

- 2021-05: $227.07 per share

- 2021-06: $237.91 per share

- 2021-07: $263.73 per share

- 2021-08: $287.38 per share

- 2021-09: $269.89 per share

- 2021-10: $276.39 per share

- 2021-11: $285.14 per share

- 2021-12: $291.68 per share

- 2022-01: $253.36 per share

- 2022-02: $243.27 per share

- 2022-03: $260.04 per share

- 2022-04: $222.63 per share

- 2022-05: $233.88 per share

- 2022-06: $224.75 per share

- 2022-07: $258.40 per share

- 2022-08: $239.28 per share

- 2022-09: $228.98 per share

- 2022-10: $223.11 per share

- 2022-11: $242.38 per share

- 2022-12: $235.30 per share

- 2023-01: $234.38 per share

- 2023-02: $219.44 per share

- 2023-03: $223.44 per share

- 2023-04: $210.03 per share

- 2023-05: $203.56 per share

- 2023-06: $212.77 per share

- 2023-07: $226.12 per share

- 2023-08: $234.93 per share

- 2023-09: $219.95 per share

- 2023-10: $192.02 per share

- 2023-11: $223.31 per share

- 2023-12: $231.34 per share

- 2024-01: $239.91 per share

- 2024-02: $253.14 per share

- 2024-03: $249.72 per share

- 2024-04: $246.62 per share

- 2024-05: $256.80 per share

- 2024-06: $249.85 per share

- 2024-07: $277.08 per share

- 2024-08: $269.31 per share

- 2024-09: $278.02 per share

- 2024-10: $245.66 per share

- 2024-11: $239.69 per share

- 2024-12: $229.55 per share

- 2025-01: $222.74 per share

- 2025-02: $207.76 per share

- 2025-03: $205.00 per share

- 2025-04: $199.33 per share

- 2025-05: $189.90 per share

- 2025-06: $197.54 per share

- 2025-07: $197.16 per share

- 2025-08: $205.82 per share

- 2025-09: $198.26 per share

- 2025-10: $215.38 per share

- 2025-11: $226.78 per share

- 2025-12: $228.92 per share

- 2026-01: $218.89 per share

- 2026-02: $210.64 per share

- 2026-03: $189.60 per share

- 2026-04: $178.95 per share

- 2026-05: $182.67 per share

- 2026-06: $190.48 per share

- 2026-07: $194.98 per share

- 2026-08: $213.56 per share

- 2026-09: $221.55 per share

- 2026-10: $222.84 per share

## Annual estimated value (USD per share)

- FY2016: low $38.11 per share, central $43.26 per share, high $50.10 per share

- FY2017: low $43.69 per share, central $49.67 per share, high $57.63 per share

- FY2018: low $43.16 per share, central $49.04 per share, high $56.86 per share

- FY2019: low $67.71 per share, central $73.75 per share, high $81.79 per share

- FY2020: low $61.92 per share, central $69.51 per share, high $79.61 per share

- FY2021: low $85.87 per share, central $97.34 per share, high $112.60 per share

- FY2022: low $89.50 per share, central $100.82 per share, high $115.88 per share

- FY2023: low $88.53 per share, central $99.74 per share, high $114.66 per share

- FY2024: low $84.05 per share, central $95.34 per share, high $110.37 per share

- FY2025: low $92.50 per share, central $104.46 per share, high $120.38 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

Prior published observations retained from 2026-10-15T06:33:41.796Z where newer inputs omit a numeric field or fiscal period.

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/313616/000031361626000062/dhr-20251231.htm); period 2025-12-31, filed 2026-02-24.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations

- [Pat Dorsey](https://gigainvestors.com/DA): 626,211 DHR shares; USD 119,281,000 reported position value; 7.64% of portfolio; add; quarter 2026 Q2.
- [David Hoeft](https://gigainvestors.com/DAC): 257,039 DHR shares; USD 48,961,000 reported position value; 0.03% of portfolio; add; quarter 2026 Q2.
- [Steven Romick](https://gigainvestors.com/FPA): 564,781 DHR shares; USD 107,579,000 reported position value; 1.35% of portfolio; new; quarter 2026 Q2.
- [Bill Gates](https://gigainvestors.com/GFT): 373,000 DHR shares; USD 71,049,000 reported position value; 0.21% of portfolio; hold; quarter 2026 Q2.
- [Bill Nygren](https://gigainvestors.com/HA): 1,838 DHR shares; USD 350,000 reported position value; 0% of portfolio; hold; quarter 2026 Q2.
- [David Katz](https://gigainvestors.com/MAVFX): 1,681 DHR shares; USD 372,000 reported position value; 0.03% of portfolio; hold; quarter 2026 Q3.
- [Andrew Adams](https://gigainvestors.com/MPF): 1,142 DHR shares; USD 217,996 reported position value; 0% of portfolio; add; quarter 2026 Q2.
- [Robert Torray](https://gigainvestors.com/T): 1,871 DHR shares; USD 356,000 reported position value; 0.05% of portfolio; hold; quarter 2026 Q2.
- [Chase Coleman](https://gigainvestors.com/TGM): 456,000 DHR shares; USD 86,859,000 reported position value; 0.36% of portfolio; new; quarter 2026 Q2.
- [Arnold Van Den Berg](https://gigainvestors.com/VAN): 43,029 DHR shares; USD 8,196,000 reported position value; 1.73% of portfolio; add; quarter 2026 Q2.
- [Wallace Weitz](https://gigainvestors.com/WIM): 489,500 DHR shares; USD 93,240,000 reported position value; 6.46% of portfolio; add; quarter 2026 Q2.
- [Daniel Loeb](https://gigainvestors.com/tp): 540,000 DHR shares; USD 102,859,000 reported position value; 2.25% of portfolio; add; quarter 2026 Q2.

# DHR — Danaher Corp.

Held by 1 investor · USD 372,000 total · 2026 Q3 · reported price USD 221.30 (split-adjusted).
Page: https://gigainvestors.com/s/DHR

## Holders (2026 Q3)

| Investor | Value | % of their portfolio | This quarter |
|---|---:|---:|---|
| David Katz (https://gigainvestors.com/MAVFX) | USD 372,000 | <0.1% | hold |

## Total held by quarter

- 2011 Q1: USD 363,993 · 1 holder · USD 51.91
- 2011 Q2: USD 371,987 · 1 holder · USD 53.05
- 2011 Q3: USD 294,013 · 1 holder · USD 41.93
- 2011 Q4: USD 238,003 · 1 holder · USD 47.12
- 2012 Q1: USD 283,008 · 1 holder · USD 56.03
- 2012 Q2: USD 263,006 · 1 holder · USD 52.07
- 2012 Q3: USD 229,011 · 1 holder · USD 55.17
- 2012 Q4: USD 231,999 · 1 holder · USD 55.89
- 2013 Q1: USD 257,985 · 1 holder · USD 62.15
- 2013 Q2: USD 263,007 · 1 holder · USD 63.36
- 2013 Q3: USD 287,996 · 1 holder · USD 69.38
- 2013 Q4: USD 21,936,001 · 2 holders · USD 77.20
- 2014 Q1: USD 22,500,000 · 1 holder · USD 75.00
- 2014 Q2: USD 118,095,000 · 1 holder · USD 78.73
- 2014 Q3: USD 144,362,000 · 1 holder · USD 75.98
- 2014 Q4: USD 128,565,000 · 1 holder · USD 85.71
- 2015 Q1: USD 122,820,000 · 1 holder · USD 81.88
- 2015 Q2: USD 128,385,000 · 1 holder · USD 85.59
- 2015 Q3: USD 319,537,500 · 2 holders · USD 85.21
- 2015 Q4: USD 348,300,000 · 2 holders · USD 92.88
- 2016 Q1: USD 493,272,000 · 2 holders · USD 94.86
- 2016 Q2: USD 511,010,000 · 2 holders · USD 101.00
- 2016 Q3: USD 470,340,000 · 2 holders · USD 78.39
- 2016 Q4: USD 381,828,552 · 2 holders · USD 77.84
- 2017 Q1: USD 406,720,809 · 2 holders · USD 85.53
- 2017 Q2: USD 418,177,767 · 2 holders · USD 84.39
- 2017 Q3: USD 425,065,634 · 2 holders · USD 85.78
- 2017 Q4: USD 461,009,150 · 3 holders · USD 92.82
- 2018 Q1: USD 480,277,923 · 2 holders · USD 97.91
- 2018 Q2: USD 484,055,004 · 2 holders · USD 98.68
- 2018 Q3: USD 556,511,969 · 3 holders · USD 108.66
- 2018 Q4: USD 512,904,237 · 3 holders · USD 103.12
- 2019 Q1: USD 735,139,376 · 3 holders · USD 132.02
- 2019 Q2: USD 790,010,452 · 3 holders · USD 142.92
- 2019 Q3: USD 798,247,134 · 3 holders · USD 144.43
- 2019 Q4: USD 829,535,331 · 4 holders · USD 153.49
- 2020 Q1: USD 739,072,721 · 4 holders · USD 138.41
- 2020 Q2: USD 989,818,406 · 5 holders · USD 176.83
- 2020 Q3: USD 1,010,532,816 · 4 holders · USD 215.33
- 2020 Q4: USD 1,041,267,457 · 4 holders · USD 222.14
- 2021 Q1: USD 1,032,553,018 · 4 holders · USD 225.08
- 2021 Q2: USD 1,221,590,580 · 4 holders · USD 268.36
- 2021 Q3: USD 1,385,625,027 · 5 holders · USD 304.44
- 2021 Q4: USD 1,505,934,348 · 5 holders · USD 329.01
- 2022 Q1: USD 1,222,093,942 · 5 holders · USD 293.33
- 2022 Q2: USD 1,007,832,713 · 4 holders · USD 253.54
- 2022 Q3: USD 1,130,492,524 · 4 holders · USD 258.31
- 2022 Q4: USD 1,296,090,626 · 6 holders · USD 265.42
- 2023 Q1: USD 1,308,557,083 · 7 holders · USD 252.04
- 2023 Q2: USD 2,244,739,109 · 8 holders · USD 240.00
- 2023 Q3: USD 2,277,416,032 · 9 holders · USD 248.10
- 2023 Q4: USD 2,102,461,669 · 10 holders · USD 231.34
- 2024 Q1: USD 2,363,936,383 · 11 holders · USD 249.72
- 2024 Q2: USD 1,245,673,302 · 11 holders · USD 249.85
- 2024 Q3: USD 1,341,058,905 · 12 holders · USD 278.02
- 2024 Q4: USD 1,128,913,417 · 10 holders · USD 229.55
- 2025 Q1: USD 788,071,369 · 11 holders · USD 205.00
- 2025 Q2: USD 1,394,043,210 · 12 holders · USD 197.54
- 2025 Q3: USD 1,090,045,132 · 12 holders · USD 198.26
- 2025 Q4: USD 559,308,980 · 11 holders · USD 228.93
- 2026 Q1: USD 382,082,460 · 10 holders · USD 189.60
- 2026 Q2: USD 639,267,996 · 12 holders · USD 190.48
- 2026 Q3: USD 372,000 · 1 holder · USD 221.30