DHR vs TDY: How Danaher Corporation and Teledyne Technologies Compare (2026)

Same yardstick, side by side (as of July 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. DHR and TDY share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined DHR and TDY exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Danaher Corporation is a global science and technology company built around three segments: Biotechnology (bioprocessing tools and consumables used to make biologic drugs, led by Cytiva and Pall), Life Sciences (instruments and reagents for research, including brands like Beckman Coulter Life Sciences, SCIEX, and Leica Microsystems), and Diagnostics (clinical and molecular testing through Beckman Coulter Diagnostics, Radiometer, Leica Biosystems, and Cepheid). A large share of revenue is recurring consumables and service tied to installed instruments and ongoing drug manufacturing, which is the core of the investment appeal. Danaher runs the well-known Danaher Business System, a continuous-improvement operating model it uses to drive margins and integrate acquisitions.

Full DHR guide

Teledyne Technologies is a diversified industrial-technology company that makes sophisticated sensing, imaging, instrumentation, and electronics products. Its portfolio spans digital imaging (including high-end industrial and scientific cameras, infrared and thermal sensors, and space and defense imaging, expanded by its acquisition of FLIR), aerospace and defense electronics, environmental and analytical instruments, and engineered systems. Teledyne makes money selling specialized hardware and instruments to demanding customers in defense, aerospace, industrial, scientific, medical, and environmental markets, where performance and reliability matter more than price. The company favors niche, high-barrier markets and grows both organically and through a steady stream of acquisitions, integrating them under a disciplined operating model. Its products often serve mission-critical applications, from machine vision on factory lines to sensors on spacecraft and military platforms. Headquartered in Thousand Oaks, California, Teledyne serves a global customer base across many specialized end markets.

Full TDY guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• DHR drivers: Bioprocessing recovery; Recurring consumables and razor-and-blade mix.
• TDY drivers: Digital imaging and FLIR; Diversification across resilient niches.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Valuation is the most cited risk, since DHR often trades at a premium multiple (trailing P/E has ranged roughly from the mid-30s to mid-40s), leaving little room for disappointment. For TDY, teledyne's industrial and instrumentation segments are exposed to manufacturing and capital-spending cycles, so a slowdown in global industrial activity can pressure orders.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick DHR if you believe its drivers more; TDY if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the DHR and TDY guides.

DHR. Danaher grew 2025 revenue about 2.9% to ~$24.6B with ~2% core growth, while adjusted EPS grew faster on margins and buybacks. The stock has typically carried a premium valuation, with a trailing P/E in the mid-30s to mid-40s and a forward P/E closer to the low 20s as estimates rise. Figures are approximate and as of JULY 2026.

TDY. Teledyne trades at a premium to average industrials, reflecting its diversified portfolio of high-barrier niche technologies, steady margins, and a long acquisition track record. The qualitative profile is a disciplined industrial-technology compounder with defense and imaging exposure. The premium multiple leaves it sensitive to industrial cycles and to the pace and pricing of future acquisitions.

Headline figures (approximate, JULY 2026): DHR shows revenue (fy2025) ~$24.6B, adj. diluted eps (fy2025) ~$7.80, free cash flow (fy2025) ~$5.3B, 2026 adj. eps guidance ~$8.35 to $8.55; TDY shows revenue (ttm) ~$5.5 to 6 billion, revenue growth low-to-mid single digit organically, more with acquisitions, operating margin ~20% on an adjusted basis, largest segment digital imaging (including FLIR).

DHR and TDY are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined DHR and TDY exposure against your real portfolio. It is not an investment adviser.