TMO · Thermo Fisher Scientific Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.01B | - | $11.12B | $10.86B | $10.36B | - | $10.60B | $10.54B | $10.35B | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | $336.00M | - | $346.00M | $352.00M | $342.00M | - | $346.00M | $339.00M | $331.00M | - |
| SG&A | $2.18B | - | $2.16B | $2.14B | $2.08B | - | $2.10B | $2.11B | $2.18B | - |
| Total Operating Expenses | $9.14B | - | $9.18B | $9.02B | $8.65B | - | $8.76B | $8.72B | $8.68B | - |
| D&A | $306.00M | - | $227.00M | $276.00M | $276.00M | - | - | - | $285.00M | - |
| Operating Income | $1.86B | - | $1.94B | $1.83B | $1.72B | - | $1.84B | $1.82B | $1.66B | - |
| Interest Expense | $354.00M | - | $347.00M | $404.00M | $363.00M | - | $356.00M | $326.00M | $363.00M | - |
| Income Tax | $70.00M | - | $207.00M | $92.00M | $95.00M | - | $99.00M | $128.00M | $281.00M | - |
| Net Income | $1.51B | - | $1.62B | $1.62B | $1.51B | - | $1.63B | $1.55B | $1.33B | - |
| EPS - Basic | $4.44 | - | $4.28 | $4.28 | $3.99 | - | $4.26 | $4.05 | $3.47 | - |
| EPS - Diluted | $4.43 | - | $4.27 | $4.28 | $3.98 | - | $4.25 | $4.04 | $3.46 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $3.25B | $9.85B | $1.98B | $4.58B | $4.13B | $4.01B | $4.64B | $7.07B | $5.50B | $8.08B |
| Accounts Receivable | $9.20B | $8.90B | $8.91B | $8.59B | $8.46B | $8.19B | $8.26B | $7.94B | $7.93B | $8.22B |
| Inventory | $5.50B | $5.42B | $5.75B | $5.56B | $5.22B | $4.98B | $5.43B | $5.20B | $5.13B | $5.09B |
| Accounts Payable | $3.34B | $3.62B | $3.12B | $2.98B | $3.05B | $3.08B | $2.61B | $2.55B | $2.56B | $2.87B |
| Current Assets | $22.32B | $28.71B | $22.30B | $24.58B | $23.38B | $22.14B | $23.78B | $25.48B | $23.64B | $24.59B |
| Total Assets | $113.28B | $110.34B | $103.02B | $101.23B | $99.04B | $97.32B | $100.36B | $98.50B | $97.09B | $98.73B |
| Current Liabilities | $14.62B | $15.19B | $14.89B | $12.72B | $13.17B | $13.33B | $14.60B | $14.77B | $13.94B | $14.01B |
| Long-term Debt | $42.95B | $39.17B | $35.48B | $35.03B | $33.99B | $31.07B | $35.11B | $35.20B | $35.39B | $34.73B |
| Total Liabilities | - | - | - | - | - | - | - | - | - | - |
| Stockholders' Equity | $51.93B | $53.41B | $51.02B | $50.51B | $49.39B | $49.58B | $48.99B | $47.43B | $45.52B | $46.73B |
| Retained Earnings | $60.63B | $59.16B | $57.35B | $55.90B | $54.45B | $53.10B | $51.42B | $49.94B | $48.54B | $47.36B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.19B | - | - | - | $723.00M | - | - | - | $1.25B | - |
| Investing Cash Flow | ($8.96B) | - | - | - | ($527.00M) | - | - | - | ($2.03B) | - |
| Financing Cash Flow | $1.09B | - | - | - | ($102.00M) | - | - | - | ($1.82B) | - |
| CapEx | $376.00M | - | - | - | $362.00M | - | - | - | $347.00M | - |
| Free Cash Flow | $816.00M | - | - | - | $361.00M | - | - | - | $904.00M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 16.9% | - | 17.5% | 16.9% | 16.6% | - | 17.3% | 17.3% | 16.1% | - |
| EBITDA margin | 19.7% | - | 19.5% | 19.4% | 19.2% | - | - | - | 18.8% | - |
| Net margin | 13.7% | - | 14.5% | 14.9% | 14.5% | - | 15.4% | 14.7% | 12.8% | - |
| Free cash flow margin | 7.4% | - | - | - | 3.5% | - | - | - | 8.7% | - |
| FCF / Net income | 0.54 | - | - | - | 0.24 | - | - | - | 0.68 | - |
| R&D / Revenue | 3.1% | - | 3.1% | 3.2% | 3.3% | - | 3.3% | 3.2% | 3.2% | - |
| SG&A / Revenue | 19.8% | - | 19.4% | 19.7% | 20.1% | - | 19.8% | 20.0% | 21.1% | - |
| Effective tax rate | 4.4% | - | 11.4% | 5.4% | 5.9% | - | 5.7% | 7.6% | 17.5% | - |
| Return on assets | 1.3% | - | 1.6% | 1.6% | 1.5% | - | 1.6% | 1.6% | 1.4% | - |
| Return on equity | 2.9% | - | 3.2% | 3.2% | 3.1% | - | 3.3% | 3.3% | 2.9% | - |
| Return on invested capital | 1.9% | - | 2.0% | 2.0% | 1.9% | - | 2.1% | 2.0% | 1.7% | - |
| Liquidity | ||||||||||
| Current ratio | 1.53 | 1.89 | 1.50 | 1.93 | 1.77 | 1.66 | 1.63 | 1.72 | 1.70 | 1.75 |
| Quick ratio | 1.15 | 1.53 | 1.11 | 1.50 | 1.38 | 1.29 | 1.26 | 1.37 | 1.33 | 1.39 |
| Cash ratio | 0.22 | 0.65 | 0.13 | 0.36 | 0.31 | 0.30 | 0.32 | 0.48 | 0.39 | 0.58 |
| Leverage | ||||||||||
| Debt / Equity | 0.83 | 0.73 | 0.70 | 0.69 | 0.69 | 0.63 | 0.72 | 0.74 | 0.78 | 0.74 |
| Debt / Assets | 0.38 | 0.36 | 0.34 | 0.35 | 0.34 | 0.32 | 0.35 | 0.36 | 0.36 | 0.35 |
| Debt / EBITDA | 19.80 | - | 16.37 | 16.60 | 17.06 | - | - | - | 18.17 | - |
| Interest coverage | 5.3x | - | 5.6x | 4.5x | 4.7x | - | 5.2x | 5.6x | 4.6x | - |
| Equity multiplier | 2.18 | 2.07 | 2.02 | 2.00 | 2.01 | 1.96 | 2.05 | 2.08 | 2.13 | 2.11 |
| Liabilities / Assets | - | - | - | - | - | - | - | - | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.10 | - | 0.11 | 0.11 | 0.10 | - | 0.11 | 0.11 | 0.11 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 305d | - | 292d | 289d | 298d | - | 284d | 275d | 280d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 106.9x | - | 108.7x | 95.4x | 125.7x | - | 144.6x | 136.9x | 168.0x | - |
| P / B | 3.4x | - | 3.4x | 3.1x | 3.8x | - | 4.8x | 4.5x | 4.9x | - |
| P / S | 16.0x | - | 15.8x | 14.2x | 18.3x | - | 22.3x | 20.1x | 21.6x | - |
| EV / EBITDA | 99.7x | - | 96.4x | 87.6x | 110.1x | - | - | - | 129.9x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 6.2% | - | 4.9% | 3.0% | 0.2% | - | 0.2% | -1.4% | -3.4% | - |
| Revenue CAGR (3y) | 0.9% | - | 1.4% | -0.4% | -4.3% | - | 4.3% | 4.4% | 1.5% | - |
| Revenue CAGR (5y) | 2.1% | - | 5.5% | 9.4% | 10.7% | - | 11.1% | 10.8% | 11.1% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 8.6% | - | 5.6% | 0.8% | 3.2% | - | -1.4% | 15.3% | 6.4% | - |
| Net income growth (YoY) | 0.0% | - | -0.9% | 4.5% | 13.5% | - | -5.0% | 13.7% | 3.0% | - |
| EPS growth (YoY) | 11.3% | - | 0.5% | 5.9% | 15.0% | - | -3.8% | 15.1% | 4.2% | - |
| EPS CAGR (3y) | 10.1% | - | 4.1% | 0.5% | -10.8% | - | -3.9% | -4.3% | -16.2% | - |
| EPS CAGR (5y) | -5.5% | - | -2.5% | 8.1% | 15.1% | - | 17.7% | 7.8% | 11.4% | - |
| FCF growth (YoY) | 126.0% | - | - | - | -60.1% | - | - | - | 233.6% | - |
| FCF CAGR (5y) | -9.6% | - | - | - | 28.5% | - | - | - | 15.1% | - |
| Book value growth (YoY) | 5.2% | 7.7% | 4.1% | 6.5% | 8.5% | 6.1% | 8.1% | 8.4% | 7.7% | 6.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$11.05B totalLife Sciences Solutions$4.17B · 37.7%
Analytical Instruments$3.36B · 30.4%
Laboratory Products And Biopharma Services$2.41B · 21.8%
Specialty Diagnostics$1.11B · 10.1%
Product / service
$70.52B totalProduct$25.96B · 36.8%
Consumables$18.66B · 26.5%
Service$18.59B · 26.4%
Instruments$7.30B · 10.4%
Geographic
$89.11B totalNorth America$23.03B · 25.8%
Non Us$22.32B · 25.0%
US$22.24B · 25.0%
Europe$11.83B · 13.3%
Asia Pacific$8.10B · 9.1%
Other Regions$1.60B · 1.8%
Peer comparison
Same SIC group: Measuring & Controlling Devices, NEC
Comparing THERMO FISHER SCIENTIFIC INC. against the 5 most active filers in the same SIC group.
Dividends
$1.76/share trailing 12 months · +10.0% YoY
| Ex-date | Per share |
|---|---|
| Mar 13, 2026 | $0.4700 |
| Dec 15, 2025 | $0.4300 |
| Sep 15, 2025 | $0.4300 |
| Jun 13, 2025 | $0.4300 |
| Mar 14, 2025 | $0.4300 |
| Dec 13, 2024 | $0.3900 |
| Sep 13, 2024 | $0.3900 |
| Jun 14, 2024 | $0.3900 |
| Mar 14, 2024 | $0.3900 |
| Dec 14, 2023 | $0.3500 |
| Sep 14, 2023 | $0.3500 |
| Jun 14, 2023 | $0.3500 |
| Mar 14, 2023 | $0.3500 |
| Dec 14, 2022 | $0.3000 |
| Sep 14, 2022 | $0.3000 |
| Jun 14, 2022 | $0.3000 |
| Mar 15, 2022 | $0.3000 |
| Dec 14, 2021 | $0.2600 |
| Sep 14, 2021 | $0.2600 |
| Jun 14, 2021 | $0.2600 |
| Mar 15, 2021 | $0.2600 |
| Dec 14, 2020 | $0.2200 |
| Sep 14, 2020 | $0.2200 |
| Jun 12, 2020 | $0.2200 |