NOW vs. DHR

Last updated Jun 13, 2026

NOW (ServiceNow, Inc) and DHR (Danaher Corporation) are both stocks. NOW operates in Software - Application (Technology), while DHR operates in Diagnostics & Research (Healthcare). Over the past 10 years, NOW returned 21.48%/yr vs 11.06%/yr for DHR. At a 0.39 correlation, their price movements are largely independent.

Performance

NOW vs. DHR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ServiceNow, Inc (NOW) and Danaher Corporation (DHR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NOW achieves a -33.32% return, which is significantly lower than DHR's -21.16% return. Over the past 10 years, NOW has outperformed DHR with an annualized return of 21.48%, while DHR has yielded a comparatively lower 11.06% annualized return.

NOW

• 1D: -0.90%
• 1M: 17.35%
• YTD: -33.32%
• 6M: -40.96%
• 1Y: -49.30%
• 3Y*: -2.72%
• 5Y*: 0.51%
• 10Y*: 21.48%

DHR

• 1D: -0.38%
• 1M: 8.50%
• YTD: -21.16%
• 6M: -20.15%
• 1Y: -11.58%
• 3Y*: -5.06%
• 5Y*: -3.39%
• 10Y*: 11.06%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NOW vs. DHR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NOW ServiceNow, Inc	-33.32%	-27.75%	50.05%	81.96%	-40.18%	17.93%	94.97%	58.56%	36.55%	75.40%
DHR Danaher Corporation	-21.16%	0.35%	-0.35%	-1.22%	-19.02%	48.57%	45.34%	49.55%	11.80%	20.01%

Correlation

The correlation between NOW and DHR is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jun 29, 2012	0.39

Over the past year, the correlation between NOW and DHR has dropped to 0.09 - well below their long-term average of 0.39, suggesting their price drivers have been diverging.

Fundamentals

Market Cap NOW : $106.24B DHR : $128.09B
EPS NOW : $1.68 DHR : $5.17
PE Ratio NOW : 60.81 DHR : 34.85
PS Ratio NOW : 7.65 DHR : 5.19
PB Ratio NOW : 7.83 DHR : 2.42
Total Revenue (TTM) NOW : $13.96B DHR : $24.78B
Gross Profit (TTM) NOW : $10.69B DHR : $15.04B
EBITDA (TTM) NOW : $2.80B DHR : $6.69B

Return for Risk

NOW vs. DHR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NOW

NOW Risk / Return Rank: 8
NOW Sharpe Ratio Rank: 5
NOW Sortino Ratio Rank: 7
NOW Omega Ratio Rank: 7
NOW Calmar Ratio Rank: 11
NOW Martin Ratio Rank: 8

DHR

DHR Risk / Return Rank: 26
DHR Sharpe Ratio Rank: 25
DHR Sortino Ratio Rank: 22
DHR Omega Ratio Rank: 23
DHR Calmar Ratio Rank: 32
DHR Martin Ratio Rank: 27

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NOW vs. DHR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ServiceNow, Inc (NOW) and Danaher Corporation (DHR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	NOW	DHR	Difference
Sharpe ratio: Return per unit of total volatility	-0.99	-0.41	-0.57
Sortino ratio: Return per unit of downside risk	-1.44	-0.44	-1.01
Omega ratio: Gain probability vs. loss probability	0.82	0.95	-0.13
Calmar ratio: Return relative to maximum drawdown	-0.82	-0.35	-0.47
Martin ratio: Return relative to average drawdown	-1.45	-0.84	-0.61

NOW vs. DHR - Sharpe Ratio Comparison

The current NOW Sharpe Ratio is -0.99, which is lower than the DHR Sharpe Ratio of -0.41. The chart below compares the historical Sharpe Ratios of NOW and DHR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NOW vs. DHR - Drawdown Comparison

The maximum NOW drawdown since its inception was -64.54%, which is greater than DHR's maximum drawdown of -45.80%. Use the drawdown chart below to compare losses from any high point for NOW and DHR.

Drawdown Indicators

	NOW	DHR	Difference
Max Drawdown Largest peak-to-trough decline	-64.54%	-45.80%	-18.74%
Max Drawdown (1Y) Largest decline over 1 year	-60.28%	-32.97%	-27.31%
Max Drawdown (3Y) Largest decline over 3 years	-64.54%	-41.72%	-22.82%
Max Drawdown (5Y) Largest decline over 5 years	-64.54%	-43.81%	-20.73%
Max Drawdown (10Y) Largest decline over 10 years	-64.54%	-43.81%	-20.73%
Current Drawdown Current decline from peak	-56.36%	-37.50%	-18.86%
Average Drawdown Average peak-to-trough decline	-13.78%	-10.22%	-3.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.02%	13.85%	+20.17%

Volatility

NOW vs. DHR - Volatility Comparison

ServiceNow, Inc (NOW) has a higher volatility of 25.56% compared to Danaher Corporation (DHR) at 9.21%. This indicates that NOW's price experiences larger fluctuations and is considered to be riskier than DHR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOW	DHR	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.56%	9.21%	+16.35%
Volatility (6M) Calculated over the trailing 6-month period	47.01%	19.52%	+27.49%
Volatility (1Y) Calculated over the trailing 1-year period	50.12%	28.18%	+21.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.44%	28.03%	+15.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.86%	25.55%	+15.31%

Dividends

NOW vs. DHR - Dividend Comparison

NOW has not paid dividends to shareholders, while DHR's dividend yield for the trailing twelve months is around 0.76%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHR Danaher Corporation	0.76%	0.56%	0.47%	12.64%	0.38%	0.26%	0.32%	0.44%	0.62%	0.60%	32.55%	0.58%
NOW ServiceNow, Inc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

NOW vs. DHR - Profitability Comparison

The chart below illustrates the profitability comparison between ServiceNow, Inc and Danaher Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

NOW - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, ServiceNow, Inc reported a gross profit of 2.83B and revenue of 3.77B. Therefore, the gross margin over that period was 75.1%.

DHR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Danaher Corporation reported a gross profit of 3.59B and revenue of 5.95B. Therefore, the gross margin over that period was 60.3%.

NOW - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, ServiceNow, Inc reported an operating income of 503.00M and revenue of 3.77B, resulting in an operating margin of 13.3%.

DHR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Danaher Corporation reported an operating income of 1.34B and revenue of 5.95B, resulting in an operating margin of 22.6%.

NOW - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, ServiceNow, Inc reported a net income of 469.00M and revenue of 3.77B, resulting in a net margin of 12.4%.

DHR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Danaher Corporation reported a net income of 1.03B and revenue of 5.95B, resulting in a net margin of 17.3%.

Frequently Asked Questions

Can I hold both NOW and DHR in my portfolio?

NOW and DHR have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NOW or DHR?

NOW has higher volatility (25.56%) compared to DHR (9.21%). In terms of maximum drawdown, NOW dropped -64.54% vs DHR's -45.80%.

Which has better risk-adjusted returns?

DHR currently has the higher Sharpe Ratio (-0.41 vs -0.99), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.