Danaher reported $7.40B of remaining performance obligations at 25 Sep 2026, up 51% from a year earlier and down 1% from the previous quarter. That is 0.3 years of trailing revenue already under contract. Book-to-bill last quarter: 0.98.
Net new backlog added in the latest quarter: -$100M.
Over the last twelve months it turned about 460% of its opening backlog into revenue (12-month conversion).
41% of the backlog is due within the next twelve months.
Customer prepayments (contract liabilities) cover 23.0% of the backlog.
Twelve-month book-to-bill: 1.10, i.e. 1.10 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +46 points — orders are running ahead of revenue.
By backlog size it ranks 90th among US filers the cockpit tracks.
Danaher backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
25 Sep 2026
$7.40B
$25.6B
0.3 yrs
$1.70B
26 Jun 2026
$7.50B
$25.1B
0.3 yrs
$1.70B
27 Mar 2026
$5.30B
$24.8B
0.2 yrs
$1.70B
31 Dec 2025
$5.20B
$24.6B
0.2 yrs
$1.60B
26 Sep 2025
$4.90B
$24.3B
0.2 yrs
$1.60B
27 Jun 2025
$4.90B
$24.0B
0.2 yrs
$1.70B
28 Mar 2025
$4.50B
$23.8B
0.2 yrs
$1.70B
31 Dec 2024
$4.30B
$23.9B
0.2 yrs
$1.50B
27 Sep 2024
$4.40B
$23.7B
0.2 yrs
$1.60B
28 Jun 2024
$4.50B
$23.6B
0.2 yrs
$1.60B
29 Mar 2024
$4.60B
$23.7B
0.2 yrs
$1.80B
31 Dec 2023
$4.70B
$23.9B
0.2 yrs
$1.70B
Questions
What is Danaher's backlog?
Danaher reported $7.40B of remaining performance obligations at 25 Sep 2026, up 51% from a year earlier and down 1% from the previous quarter. That is 0.3 years of trailing revenue already under contract. Book-to-bill last quarter: 0.98.
How fast does Danaher's backlog turn into revenue?
Over the last twelve months Danaher recognised revenue equal to about 460% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.