Thermo Fisher Scientific (TMO)

NYSE Health Care Life Sciences Tools & Services S&P 500

$694.76

+17.82 (+2.63%)

Close of Nov 06, 2026 · end-of-day data

Source: Thermo Fisher Scientific's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 02, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$18.27B	$20.92B	$24.36B	$25.54B	$32.22B	$39.21B	$44.91B	$42.86B	$42.88B	$44.56B
Cost of revenue	$8.21B	$8.98B	—	—	—	—	—	—	—	—
Gross profit	$10.06B	$11.94B	—	—	—	—	—	—	—	—
Research & development	$754.00M	$887.00M	$967.00M	$1.00B	$1.18B	$1.41B	$1.47B	$1.34B	$1.39B	$1.40B
Selling, general & admin	$4.97B	$5.50B	$6.06B	$6.14B	$6.93B	$8.01B	$8.99B	$8.45B	$8.60B	$8.73B
Operating income	$2.46B	$2.96B	$3.78B	$4.59B	$7.79B	$10.03B	$8.39B	$6.86B	$7.34B	$7.75B
Interest expense	$469.00M	$592.00M	$667.00M	$676.00M	$553.00M	$536.00M	$726.00M	$1.38B	$1.39B	$1.42B
Pre-tax income	$2.02B	$2.43B	$3.26B	$4.07B	$7.22B	$8.84B	$7.83B	$6.30B	$7.04B	$7.31B
Income tax	-$1.00M	$201.00M	$324.00M	$374.00M	$850.00M	$1.11B	$703.00M	$284.00M	$657.00M	$547.00M
Net income	$2.02B	$2.23B	$2.94B	$3.70B	$6.38B	$7.72B	$6.95B	$6.00B	$6.33B	$6.70B
EBITDA	$4.22B	$4.99B	$6.05B	$5.16B	$8.45B	$10.86B	$9.38B	$7.93B	$8.49B	$8.80B
EPS (basic)	$5.12	$5.64	$7.31	$9.24	$16.09	$19.62	$17.75	$15.52	$16.58	$17.77
EPS (diluted)	$5.09	$5.59	$7.24	$9.17	$15.96	$19.46	$17.63	$15.45	$16.53	$17.74
Diluted shares	397.00M	398.00M	406.00M	403.00M	399.00M	397.00M	394.00M	388.00M	383.00M	378.00M
Gross margin	55.1%	57.1%	—	—	—	—	—	—	—	—
Operating margin	13.5%	14.2%	15.5%	18.0%	24.2%	25.6%	18.7%	16.0%	17.1%	17.4%
Net margin	11.1%	10.6%	12.1%	14.5%	19.8%	19.7%	15.5%	14.0%	14.8%	15.0%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$786.00M	$1.33B	$2.10B	$2.40B	$10.32B	$4.48B	$8.52B	$8.08B	$4.01B	$9.85B
Short-term investments	—	—	—	—	—	—	—	$3.00M	$1.56B	$253.00M
Receivables	$3.05B	$3.88B	$4.14B	$4.35B	$5.74B	$7.98B	$8.12B	$8.22B	$8.19B	$8.90B
Inventory	$2.21B	$2.97B	$3.00B	$3.37B	$4.03B	$5.05B	$5.63B	$5.09B	$4.98B	$5.42B
Total current assets	$7.02B	$9.42B	$10.62B	$11.89B	$21.96B	$20.11B	$25.23B	$24.59B	$22.14B	$28.71B
Goodwill	$21.33B	$25.29B	$25.35B	$25.71B	$26.04B	$41.92B	$41.20B	$44.02B	$45.85B	$49.36B
Total assets	$45.91B	$56.67B	$56.23B	$58.38B	$69.05B	$95.12B	$97.15B	$98.73B	$97.32B	$110.34B
Total current liabilities	$4.87B	$7.05B	$6.15B	$6.20B	$10.30B	$13.44B	$17.01B	$14.01B	$13.33B	$15.19B
Short-term debt	$1.25B	$2.13B	$1.27B	$676.00M	$2.63B	$2.54B	$5.58B	$3.61B	$2.21B	$3.53B
Long-term debt	$15.37B	$18.87B	$17.72B	$17.08B	$19.11B	$34.67B	$34.28B	$34.73B	$31.07B	$39.17B
Total debt	$16.63B	$21.01B	$18.99B	$17.75B	$21.73B	$37.21B	$39.86B	$38.34B	$33.29B	$42.70B
Total liabilities	$24.37B	$31.26B	$28.65B	$28.71B	$34.55B	$54.33B	$53.18B	$51.99B	$47.74B	$56.94B
Shareholders' equity	$21.54B	$25.41B	$27.59B	$29.68B	$34.51B	$40.79B	$43.98B	$46.73B	$49.58B	$53.41B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$3.26B	$4.00B	$4.54B	$4.97B	$8.29B	$9.31B	$9.15B	$8.41B	$8.67B	$7.82B
Capital expenditures	$444.00M	$508.00M	$758.00M	$926.00M	$1.47B	$2.52B	$2.24B	$1.48B	$1.40B	$1.52B
Free cash flow	$2.81B	$3.50B	$3.79B	$4.05B	$6.82B	$6.79B	$6.91B	$6.93B	$7.27B	$6.29B
Investing cash flow	-$5.52B	-$7.73B	-$1.25B	-$1.49B	-$1.51B	-$21.93B	-$2.16B	-$5.14B	-$5.84B	-$4.05B
Financing cash flow	$2.76B	$3.85B	-$2.24B	-$3.12B	$959.00M	$6.58B	-$2.81B	-$3.62B	-$6.79B	$1.80B
Dividends paid	$238.00M	$237.00M	$266.00M	$297.00M	$337.00M	$395.00M	$455.00M	$523.00M	$583.00M	$636.00M
Share buybacks	$1.25B	$750.00M	$500.00M	$1.50B	$1.50B	$2.00B	$3.00B	$3.00B	$4.00B	$3.00B
Stock-based compensation	$133.00M	$159.00M	$181.00M	$181.00M	$196.00M	$230.00M	$307.00M	$278.00M	$301.00M	$310.00M
Depreciation & amortization	$1.76B	$2.03B	$2.27B	$564.00M	$658.00M	$831.00M	$986.00M	$1.07B	$1.16B	$1.05B

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$10.89B	$10.35B	$10.54B	$10.60B	$11.39B	$10.36B	$10.86B	$11.12B	$12.21B	$11.01B	$11.99B	$12.14B
Research & development	$327.00M	$331.00M	$339.00M	$346.00M	$374.00M	$342.00M	$352.00M	$346.00M	$356.00M	$336.00M	$364.00M	$348.00M
Selling, general & admin	$2.13B	$2.18B	$2.11B	$2.10B	$2.20B	$2.08B	$2.14B	$2.16B	$2.35B	$2.18B	$2.33B	$2.32B
Operating income	$1.85B	$1.66B	$1.82B	$1.84B	$2.02B	$1.72B	$1.83B	$1.94B	$2.25B	$1.86B	$2.09B	$2.26B
Interest expense	$390.00M	$363.00M	$354.00M	$356.00M	$317.00M	$303.00M	$404.00M	$347.00M	$365.00M	$354.00M	$401.00M	$417.00M
Pre-tax income	$1.74B	$1.59B	$1.76B	$1.74B	$1.94B	$1.62B	$1.71B	$1.83B	$2.15B	$1.73B	$1.92B	$2.09B
Income tax	$133.00M	$281.00M	$128.00M	$99.00M	$150.00M	$95.00M	$92.00M	$207.00M	$153.00M	$70.00M	$167.00M	$352.00M
Net income	$1.63B	$1.33B	$1.55B	$1.63B	$1.83B	$1.51B	$1.62B	$1.62B	$1.96B	$1.65B	$1.74B	$1.72B
EBITDA	$2.13B	$1.95B	$2.10B	$2.13B	$2.32B	$1.99B	$2.09B	$2.17B	$2.55B	$2.17B	$2.42B	$2.57B
EPS (basic)	$4.21	$3.47	$4.05	$4.26	$4.79	$3.99	$4.28	$4.28	$5.22	$4.44	$4.68	$4.65
EPS (diluted)	$4.20	$3.46	$4.04	$4.25	$4.78	$3.98	$4.28	$4.27	$5.21	$4.43	$4.68	$4.64
Diluted shares	0	384.00M	383.00M	384.00M	0	379.00M	378.00M	378.00M	0	373.00M	371.00M	371.00M
Operating margin	17.0%	16.1%	17.3%	17.3%	17.7%	16.6%	16.9%	17.5%	18.5%	16.9%	17.4%	18.6%
Net margin	15.0%	12.8%	14.7%	15.4%	16.1%	14.5%	14.9%	14.5%	16.1%	15.0%	14.5%	14.2%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$8.08B	$5.50B	$7.07B	$4.64B	$4.01B	$4.13B	$4.58B	$1.98B	$9.85B	$3.25B	$4.06B	$5.46B
Short-term investments	$3.00M	$1.75B	$1.75B	$2.00B	$1.56B	$1.81B	$1.81B	$1.56B	$253.00M	$2.00M	$0	$600.00M
Receivables	$8.22B	$7.93B	$7.94B	$8.26B	$8.19B	$8.46B	$8.59B	$8.91B	$8.90B	$9.20B	$9.45B	$9.62B
Inventory	$5.09B	$5.13B	$5.20B	$5.43B	$4.98B	$5.22B	$5.56B	$5.75B	$5.42B	$5.50B	$5.63B	$5.64B
Total current assets	$24.59B	$23.64B	$25.48B	$23.78B	$22.14B	$23.38B	$24.58B	$22.30B	$28.71B	$22.32B	$23.36B	$25.61B
Goodwill	$44.02B	$43.84B	$43.84B	$46.73B	$45.85B	$46.49B	$47.25B	$49.29B	$49.36B	$55.19B	$54.83B	$54.26B
Total assets	$98.73B	$97.09B	$98.50B	$100.36B	$97.32B	$99.04B	$101.23B	$103.02B	$110.34B	$113.28B	$113.17B	$114.23B
Total current liabilities	$14.01B	$13.94B	$14.77B	$14.60B	$13.33B	$13.17B	$12.72B	$14.89B	$15.19B	$14.62B	$15.07B	$14.17B
Short-term debt	$3.61B	$4.45B	$5.12B	$4.12B	$2.21B	$2.82B	$2.21B	$3.82B	$3.53B	$3.09B	$3.37B	$2.26B
Long-term debt	$34.73B	$35.39B	$35.20B	$35.11B	$31.07B	$33.99B	$35.03B	$35.48B	$39.17B	$42.95B	$42.28B	$41.11B
Total debt	$38.34B	$39.84B	$40.32B	$39.23B	$33.29B	$36.81B	$37.25B	$39.31B	$42.70B	$46.04B	$45.65B	$43.37B
Total liabilities	$51.99B	$51.58B	$51.06B	$51.37B	$47.74B	$49.65B	$50.72B	$52.00B	$56.94B	$61.35B	$60.49B	$59.47B
Shareholders' equity	$46.73B	$45.52B	$47.43B	$48.99B	$49.58B	$49.39B	$50.51B	$51.02B	$53.41B	$51.93B	$52.68B	$54.76B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$3.72B	$1.25B	$1.96B	$2.17B	$3.29B	$723.00M	$1.40B	$2.24B	$3.46B	$1.19B	$2.12B	$2.55B
Capital expenditures	$405.00M	$347.00M	$301.00M	$272.00M	$480.00M	$362.00M	$294.00M	$404.00M	$465.00M	$376.00M	$450.00M	$437.00M
Free cash flow	$3.32B	$904.00M	$1.66B	$1.89B	$2.81B	$361.00M	$1.10B	$1.83B	$2.99B	$816.00M	$1.68B	$2.11B
Investing cash flow	-$376.00M	-$2.03B	-$253.00M	-$3.58B	$20.00M	-$527.00M	-$288.00M	-$4.12B	$891.00M	-$8.96B	$164.00M	-$77.00M
Financing cash flow	-$1.43B	-$1.82B	-$115.00M	-$1.19B	-$3.67B	-$102.00M	-$991.00M	-$632.00M	$3.53B	$1.09B	-$1.57B	-$1.06B
Dividends paid	$136.00M	$135.00M	$149.00M	$150.00M	$149.00M	$149.00M	$162.00M	$163.00M	$162.00M	$162.00M	$175.00M	$174.00M
Share buybacks	$0	$3.00B	$0	$0	$1.00B	$2.00B	$0	$963.00M	$37.00M	$3.00B	$1.00B	$0
Stock-based compensation	$61.00M	$70.00M	$84.00M	$68.00M	$79.00M	$75.00M	$81.00M	$70.00M	$84.00M	$83.00M	$82.00M	$96.00M
Depreciation & amortization	$276.00M	$285.00M	$276.00M	$291.00M	$304.00M	$276.00M	$256.00M	$227.00M	$292.00M	$306.00M	$331.00M	$307.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.