Thermo Fisher Scientific Inc. (TMO) Financial Statements
Industry: Measuring & Controlling Devices (Other)
In fiscal 2025, Thermo Fisher Scientific reported revenue of $44.56B, up 3.9% from $42.88B the year before. Net income was $6.70B (a 15.0% net margin), or $17.74 per diluted share. Gross margin was 17.4% and operating margin was 17.4%. Operating activities generated $7.82B of cash, leaving $6.29B of free cash flow. At fiscal year end, Thermo Fisher Scientific held $110.34B in total assets against $56.94B in total liabilities, including $9.85B of cash and equivalents.
Open the full interactive Thermo Fisher Scientific financials → Quarterly statements, key ratios, valuation history and price charts.
Thermo Fisher Scientific Key Stats
| Share Price | $663.04 |
|---|---|
| Market Cap | $245.99B |
| P/E Ratio | 37.4 |
| Revenue YoY Growth | +3.9% |
| 52-Week Range | $437.57 – $679.61 |
| Shares Outstanding | 371.0 million (basic, 2026 Q2) |
Thermo Fisher Scientific Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $32.22B | $39.21B | $44.91B | $42.86B | $42.88B | $44.56B |
| Cost of Goods Sold | $24.42B | $29.18B | $36.52B | $36.00B | $35.54B | $36.81B |
| Gross Profit | $7.79B | $10.03B | $8.39B | $6.86B | $7.34B | $7.75B |
| Operating Income | $7.79B | $10.03B | $8.39B | $6.86B | $7.34B | $7.75B |
| Pre-Tax Income | $7.22B | $8.84B | $7.83B | $6.30B | $7.04B | $7.31B |
| Income Tax | $850.0M | $1.11B | $703.0M | $284.0M | $657.0M | $547.0M |
| Net Income | $6.38B | $7.72B | $6.95B | $6.00B | $6.33B | $6.70B |
| Diluted EPS | $15.96 | $19.46 | $17.63 | $15.45 | $16.53 | $17.74 |
Thermo Fisher Scientific Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $11.12B | $12.21B | $11.01B | $11.99B |
| Net Income | $1.62B | $1.96B | $1.65B | $1.74B |
| Diluted EPS | $4.27 | $5.20 | $4.43 | $4.68 |
Thermo Fisher Scientific Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $10.32B | $4.48B | $8.52B | $8.08B | $4.01B | $9.85B |
| Current Assets | $21.96B | $20.11B | $25.23B | $24.59B | $22.14B | $28.71B |
| Total Assets | $69.05B | $95.12B | $97.15B | $98.73B | $97.32B | $110.34B |
| Current Liabilities | $10.30B | $13.44B | $17.01B | $14.01B | $13.33B | $15.19B |
| Total Long-Term Debt | $21.73B | $32.33B | $28.91B | $31.31B | $29.06B | $35.85B |
| Total Liabilities | $34.55B | $54.33B | $53.18B | $51.99B | $47.74B | $56.94B |
| Shareholders' Equity | $34.51B | $40.79B | $43.98B | $46.73B | $49.58B | $53.41B |
Thermo Fisher Scientific Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $8.29B | $9.31B | $9.15B | $8.41B | $8.67B | $7.82B |
| Cash From Investing | -$1.51B | -$21.93B | -$2.16B | -$5.14B | -$5.84B | -$4.05B |
| Cash From Financing | $959.0M | $6.58B | -$2.81B | -$3.62B | -$6.79B | $1.80B |
| Free Cash Flow | $6.82B | $6.79B | $6.91B | $6.93B | $7.27B | $6.29B |
Figures from Thermo Fisher Scientific's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Thermo Fisher Scientific financials page for every line item.
Thermo Fisher Scientific Company Profile
| Ticker | TMO |
|---|---|
| Exchange | NYSE |
| Industry | Measuring & Controlling Devices (Other) |
| Headquarters | Waltham, Massachusetts |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000097745 |
Frequently Asked Questions
What was Thermo Fisher Scientific's revenue in fiscal 2025?
Thermo Fisher Scientific (TMO) reported revenue of $44.56B for fiscal 2025.
What is Thermo Fisher Scientific's annual revenue history?
Thermo Fisher Scientific's annual revenue by fiscal year: 2020: $32.22B; 2021: $39.21B; 2022: $44.91B; 2023: $42.86B; 2024: $42.88B; 2025: $44.56B.
What was Thermo Fisher Scientific's net income in fiscal 2025?
Thermo Fisher Scientific reported net income of $6.70B for fiscal 2025.
What was Thermo Fisher Scientific's earnings per share (EPS) in fiscal 2025?
Thermo Fisher Scientific's diluted EPS was $17.74 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Thermo Fisher Scientific generate in fiscal 2025?
Thermo Fisher Scientific generated $6.29B of free cash flow in fiscal 2025.
What was Thermo Fisher Scientific's revenue last quarter?
In its most recent reported quarter (2026 Q2), Thermo Fisher Scientific reported revenue of $11.99B.
How much debt does Thermo Fisher Scientific have?
Thermo Fisher Scientific reported $35.85B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Thermo Fisher Scientific are outstanding?
Thermo Fisher Scientific reported a weighted average of 371.0 million basic shares outstanding in 2026 Q2.
What is Thermo Fisher Scientific's market cap?
Based on its latest closing price, Thermo Fisher Scientific (TMO) has a market capitalization of about $245.99B.
When does Thermo Fisher Scientific's fiscal year end?
Thermo Fisher Scientific's fiscal year end, as registered with the SEC, is December 31.
Where is Thermo Fisher Scientific headquartered?
Thermo Fisher Scientific lists its business address in Waltham, Massachusetts in its SEC filings.