THERMO FISHER SCIENTIFIC INC. TMO
Last close
613.78
2026-09-04
Market cap
$226.94B
2026-06-27 share count
52-week range
435.27 - 647.00
Valuation FY2025 figures against the last close
P/S5.1x
P/E34.6x
P/FCF36.1x
EV/EBITDA29.5x
Dividend yield0.3%
Diluted EPS17.74
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $44.56B | $42.88B | $42.86B | $44.91B | $39.21B | $32.22B | $25.54B | $24.36B | $20.92B | $18.27B |
| Cost of revenue | — | — | — | — | — | — | — | — | $2.50B | $1.69B |
| Gross profit | — | — | — | — | — | — | — | — | $18.42B | $16.58B |
| R&D | $1.40B | $1.39B | $1.34B | $1.47B | $1.41B | $1.18B | $1.00B | $967.0M | $887.0M | $754.0M |
| SG&A | $8.73B | $8.60B | $8.45B | $8.99B | $8.01B | $6.93B | $6.14B | $6.06B | $5.50B | $4.97B |
| Total operating expenses | $36.81B | $35.54B | $36.00B | $36.52B | $29.18B | $24.42B | $20.95B | $20.57B | $17.96B | $15.82B |
| Operating income | $7.75B | $7.34B | $6.86B | $8.39B | $10.03B | $7.79B | $4.59B | $3.78B | $2.96B | $2.46B |
| Interest expense | $1.42B | $1.39B | $1.38B | $726.0M | $536.0M | $553.0M | $676.0M | $667.0M | $592.0M | $469.0M |
| Pre-tax income | $7.31B | $7.04B | $6.30B | $7.83B | $8.84B | $7.23B | $4.07B | $3.26B | $2.43B | $2.02B |
| Income tax | $547.0M | $657.0M | $284.0M | $703.0M | $1.11B | $850.0M | $374.0M | $324.0M | $201.0M | $1.0M |
| Net income | $6.72B | $6.34B | $5.96B | $6.96B | $7.73B | $6.38B | $3.70B | — | — | — |
| EPS, basic | 17.77 | 16.58 | 15.52 | 17.75 | 19.62 | 16.09 | 9.24 | 7.31 | 5.64 | 5.12 |
| EPS, diluted | 17.74 | 16.53 | 15.45 | 17.63 | 19.46 | 15.96 | 9.17 | 7.24 | 5.59 | 5.09 |
| Shares, diluted (wtd. avg.) | $378.0M | $383.0M | $388.0M | $394.0M | $397.0M | $399.0M | $403.0M | $406.0M | $398.0M | $397.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $9.85B | $4.01B | $8.10B | $8.54B | $4.49B | $10.34B | $2.42B | $2.12B | $1.36B | $811.0M |
| Short-term investments | $253.0M | $1.56B | $3.0M | — | — | — | — | — | — | — |
| Receivables | $8.90B | $8.19B | $8.22B | $8.12B | $7.98B | $5.74B | $4.35B | $4.14B | $3.88B | $3.05B |
| Inventory | $5.42B | $4.98B | $5.09B | $5.63B | $5.05B | $4.03B | $3.37B | $3.00B | $2.97B | $2.21B |
| Total current assets | $28.71B | $22.14B | $24.59B | $25.23B | $20.11B | $21.96B | $11.89B | $10.62B | $9.42B | $7.02B |
| Property, plant and equipment | $10.56B | $9.31B | $9.45B | $9.28B | $8.33B | $5.91B | $4.75B | $4.17B | $4.05B | $2.58B |
| Goodwill | $49.36B | $45.85B | $44.02B | $41.20B | $41.92B | $26.04B | $25.71B | $25.35B | $25.29B | $21.33B |
| Other intangibles | $15.84B | $15.53B | $16.67B | $17.44B | $20.11B | $12.69B | $14.01B | $14.98B | $16.68B | $13.97B |
| Total assets | $110.34B | $97.32B | $98.73B | $97.15B | $95.12B | $69.05B | $58.38B | $56.23B | $56.67B | $45.91B |
| Accounts payable | $3.62B | $3.08B | $2.87B | $3.38B | $2.87B | $2.17B | $1.92B | $1.61B | $1.43B | $926.0M |
| Short-term debt | $3.53B | $2.21B | $3.61B | $5.58B | $2.54B | $2.63B | $676.0M | $1.27B | $2.13B | $1.25B |
| Total current liabilities | $15.19B | $13.33B | $14.01B | $17.01B | $13.44B | $10.30B | $6.20B | $6.15B | $7.05B | $4.87B |
| Long-term debt | $39.17B | $31.07B | $34.73B | $34.28B | $34.67B | $21.73B | $17.08B | $17.72B | — | — |
| Retained earnings | $59.16B | $53.10B | $47.36B | $41.91B | $35.43B | $28.12B | $22.09B | $18.70B | $15.91B | $13.93B |
| Total equity | $53.41B | $49.58B | $46.72B | $44.03B | $40.85B | $34.52B | $29.68B | $27.59B | $25.41B | $21.54B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $7.82B | $8.67B | $8.41B | $9.15B | $9.31B | $8.29B | $4.97B | $4.54B | $4.00B | $3.26B |
| Depreciation and amortisation | $1.05B | $1.16B | $1.07B | $986.0M | $831.0M | $658.0M | $564.0M | $526.0M | $439.0M | $1.76B |
| Stock-based compensation | $310.0M | $301.0M | $278.0M | $307.0M | $230.0M | $196.0M | $181.0M | $181.0M | $159.0M | $133.0M |
| Capital expenditure | $1.52B | $1.40B | $1.48B | $2.24B | $2.52B | $1.47B | $926.0M | $758.0M | $508.0M | $444.0M |
| Investing cash flow | -$4.05B | -$5.84B | -$5.14B | -$2.16B | -$21.93B | -$1.51B | -$1.49B | -$1.25B | -$7.73B | -$5.52B |
| Financing cash flow | $1.80B | -$6.79B | -$3.62B | -$2.81B | $6.58B | $959.0M | -$3.12B | -$2.24B | $3.85B | $2.76B |
| Dividends paid | $636.0M | $583.0M | $523.0M | $455.0M | $395.0M | $337.0M | $297.0M | $266.0M | $237.0M | $238.0M |
| Buybacks | $3.00B | $4.00B | $3.00B | $3.00B | $2.00B | $1.50B | $1.50B | $500.0M | $750.0M | $1.25B |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-144585.
Others in SIC 3829
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| OWLT | Owlet, Inc. | $145.5M | — | 35.4% |
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| BCHT | Birchtech Corp. | $31.3M | — | 1.3% |