Thermo Fisher Scientific Inc. logo TMO - Thermo Fisher Scientific Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY 0
BUY 38
HOLD 4
SELL 0
STRONG
SELL 0
| PRICE TARGET: $638.20 DETAILS
HIGH: $750.00
LOW: $490.00
MEDIAN: $644.50
CONSENSUS: $638.20
UPSIDE: 42.40%
Annual Quarterly
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Revenue
Revenue 44,556 42,879 42,857 44,915 39,211 32,218 25,542 24,358 20,918 18,274.1 16,965.4 16,889.6 13,090.3 12,509.9 11,725.9 10,788.7 10,109.7 10,498 9,746.4 3,791.6 2,633.0 2,206.0 2,097.1 2,086.4 2,188.2 2,280.5 2,471.2 3,867.6 3,558.3 2,932.6 2,207.4 1,585.3 1,249.7
Cost of Revenue 27,778 25,151 25,663 25,904 19,577 16,191 14,198 13,370 11,239 9,692.2 9,127.4 9,004.1 7,464.6 7,095.6 6,692.2 6,118.4 6,039.4 6,255.6 5,852.3 2,104.7 1,395.6 1,190.4 1,149.1 1,159.0 1,229.6 1,258.7 1,264.9 2,024.6 1,837.6 1,542.5 1,124.7 866.3 713.1
Gross Profit 16,778 17,728 17,194 19,011 19,634 16,027 11,344 10,988 9,679 8,581.9 7,838 7,885.5 5,625.7 5,414.3 4,866.6 4,274.7 4,070.3 4,242.4 3,894.1 1,686.9 1,237.5 1,015.6 948.0 927.4 958.6 1,021.8 1,206.3 1,843 1,720.7 1,390.1 1,082.7 719 536.6
Operating Expenses
R&D Expenses 1,397 1,390 1,337 1,471 1,406 1,181 1,003 967 888 754.8 692.3 691.1 395.5 376.4 340.2 284.4 246.1 249.1 238.7 170.2 152.8 134.7 146.4 155.1 171.6 176.8 171.1 367.3 337.3 0 269.6 103.7 0
SG&A Expenses 7,272 8,676 8,411 9,015 7,910 6,949 6,062 6,028 5,414 4,872 4,565.8 4,765.4 3,360.8 3,342.4 3,045 2,725.8 2,667.4 2,692.3 2,549.1 1,110.2 761.8 626.5 568.1 564.7 620.1 646.9 673 937.6 840.7 990.7 480.8 373.2 370.6
Other Expenses 0 0 0 0 0 0 20 121 110 96.2 85.4 80.6 70.7 66.2 0 0 38.9 34.7 40.5 41.3 29.1 0 0 0 0 0 113.6 162.3 135.7 115.2 85 62.3 42.4
Operating Expenses 8,669 10,066 9,748 10,486 9,316 8,130 7,085 7,116 6,412 5,723 5,343.5 5,537.1 3,827 3,785 3,385.2 3,010.2 2,952.4 2,976.1 2,828.3 1,321.7 943.7 761.1 714.5 719.8 791.7 823.7 957.7 1,467.2 1,313.7 1,105.9 835.4 539.2 413
Operating Income
Operating Income 8,109 7,662 7,446 8,525 10,318 7,897 4,259 3,872 3,267 2,858.9 2,494.5 2,348.4 1,798.7 1,629.3 1,481.4 1,264.5 1,117.9 1,266.3 1,065.8 365.3 293.8 254.4 184.8 155.5 34.2 198.2 248.6 375.8 407 284.2 247.3 179.8 123.6
Interest Expense 1,419 1,654 1,491 726 536 553 676 667 592 469.6 414.9 479.9 262.3 241.6 191.8 84.7 118.1 129.9 139.8 51.9 26.7 11.0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 993 1,078 879 272 43 65 224 137 81 48.4 30.6 47.7 28 25.2 26.8 12.4 16.1 51.7 46.5 16.4 11.6 9.0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 11,466 11,800 11,195 11,942 11,969 10,108 7,023 6,195 5,054 4,251.5 4,039.5 4,251.9 2,581.7 2,494.7 2,184.2 1,912.1 1,832.5 2,072.2 1,777.9 502.1 435.9 336.3 279.3 193.1 265.4 295.6 362.2 353.4 371.6 399.4 332.3 242.1 166
EBIT 8,686 8,692 7,789 8,561 9,377 7,783 4,746 3,929 3,021 2,493.5 2,351.3 2,567.1 1,581.8 1,511 1,324.6 1,172.4 1,045.2 1,279.5 1,021.1 261.3 312.6 270.2 232.6 207.6 166.9 198.2 248.6 257.3 285.5 284.2 247.3 179.8 123.6
Income Before Tax 7,267 6,995 6,239 7,663 8,837 7,227 4,070 3,262 2,429 2,023.9 1,936.4 2,087.2 1,319.5 1,269.4 1,132.8 1,087.7 927.1 1,149.6 881.3 209.4 285.9 259.2 218.6 288.0 76.5 174.3 18.5 347.5 414 301.6 239 172.6 110
Income Tax Expense 547 657 284 703 1,109 850 374 324 201 (1.4) (43.9) 191.7 40.4 11 109.4 101.6 75.8 160.9 101.7 43.1 87.6 40.9 45.9 93.0 26.9 112.2 33.1 170.7 174.7 110.8 98.9 69.2 33.4
Net Income 6,737 6,335 5,995 6,950 7,725 6,375 3,696 2,938 2,225 2,021.8 1,975.4 1,894.4 1,273.3 1,177.9 1,329.9 1,035.6 850.3 994.2 761.1 168.9 223.2 361.8 200.0 309.7 (0.8) (36.1) (174.6) 181.9 239.3 190.8 140.1 103.4 76.6
Per Share Data
EPS (Basic) 17.77 16.58 15.53 17.73 19.61 16.10 9.24 7.31 5.64 5.12 4.96 4.76 3.53 3.24 3.49 2.57 2.06 2.34 1.81 0.86 1.38 2.22 1.23 1.84 -0.00 -0.22 -1.11 1.12 1.57 1.35 1.11 0.93 0.33
EPS (Diluted) 17.74 16.53 15.45 17.64 19.46 15.98 9.17 7.24 5.59 5.09 4.92 4.71 3.48 3.21 3.46 2.53 2.01 2.25 1.72 0.84 1.36 2.17 1.20 1.73 -0.00 -0.22 -1.10 1.08 1.41 1.22 0.99 0.82 0.29
Shares Outstanding 376 382 386 392 394 396 400 402 395 394.8 398.7 398.2 360.3 363.8 380.8 403.3 412.4 418.2 421.5 196.1 161.6 163.1 162.7 168.3 181.6 164.1 158.0 162.4 152.5 141.5 125.5 110.8 107.7
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Current Assets
Cash & Cash Equivalents 9,857 4,019 8,083 8,524 4,477 10,325 2,399 2,103 1,335 786 1,564.1 1,280.5 326.9 303.9 339.0 298 506 282 397 594 414 462 382.8 325.7
Short-Term Investments 253 1,561 0 0 0 0 0 0 0 0 7.1 7.5 185.4 114.3 536.4 744 521 556 1,151 929 1,432 594 0 0
Net Receivables 10,566 9,626 9,664 9,427 8,945 6,472 4,952 4,595 3,879 3,049 1,409.6 1,478.1 469.6 419.6 429.7 435.0 450.0 592.7 501.8 866.8 693.7 551.4 374.8 300
Inventory 5,425 4,978 5,088 5,634 5,051 4,029 3,370 3,005 2,971 2,213 1,131.4 1,171.4 336.7 343.8 332.8 337 394 373 600 544 433 318 233.4 192.8
Other Current Assets 2,606 1,953 1,760 1,644 1,640 1,131 1,172 922 1,236 973 418.7 408.4 151.1 213.6 133.5 151.3 594.5 714.1 766.7 1,090.2 1,590.7 689.6 691.7 426
Total Current Assets 28,707 22,137 24,589 25,229 20,113 21,957 11,893 10,625 9,421 7,021 4,530.9 4,345.9 1,469.7 1,395.3 1,771.6 1,965.2 2,465.5 2,517.2 3,301.3 3,094.2 3,131.8 2,021.2 1,682.7 1,244.5
Non-Current Assets
Property, Plant & Equipment 12,012 10,795 11,004 10,873 9,864 6,687 5,448 4,165 4,047 2,577.8 1,333.4 1,275.3 261.0 300.7 272.9 271 286 511 833 789 704 713 614 447.5
Goodwill 49,362 45,853 44,020 41,196 41,924 26,041 25,714 25,347 25,290 21,328 8,982.9 8,677.7 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 15,838 15,533 16,670 17,478 20,146 12,685 14,014 14,978 16,684 13,969 6,337 6,423.2 1,671.6 1,557.2 1,416.2 1,348.4 1,378.7 1,227.3 1,123.3 1,692.2 1,082.9 827.1 575.5 473.6
Long-Term Investments 541 560 59 155 73 65 35 53 34 37 10.4 10.4 0 0 0 9 17 40 96 63 94 86 0 0
Other Non-Current Assets 3,883 2,443 2,384 2,223 3,003 1,574 1,277 1,064 1,193 974.9 430.4 357.5 174.4 135.8 186.4 223.9 704.4 804.6 83.3 66.7 222.1 38.7 147.7 308.1
Total Non-Current Assets 81,636 75,184 74,137 71,925 75,010 47,095 46,488 45,607 47,248 38,886.5 17,094.1 16,744.1 2,107.1 1,993.7 1,875.5 1,859.9 2,397.4 2,664.6 3,030.3 2,701.7 2,009.4 1,723.7 1,337.2 1,229.2
Total Assets 110,343 97,321 98,726 97,154 95,123 69,052 58,381 56,232 56,669 45,908 21,600.8 21,090 3,576.7 3,389.0 3,647.1 3,825.1 4,863.0 5,181.8 6,331.6 5,795.9 5,141.2 3,744.9 3,019.9 2,473.7
Current Liabilities
Account Payables 3,622 3,079 2,872 3,381 2,867 2,175 1,920 1,615 1,428 926.2 533.6 539.5 131.2 114.2 112.0 112.0 139.7 156.6 124 251.7 203.6 164.6 112.2 85.3
Short-Term Debt 3,808 2,475 3,872 5,851 2,803 2,812 843 1,271 2,135 1,255.5 117.5 14.8 15.0 46.0 484.5 59 81 113 100.4 176.9 153.8 106 83 45.9
Deferred Revenue 2,710 2,852 2,689 2,601 2,655 1,271 916 809 719 485.9 139.8 135.3 77.8 65.2 51.3 48.2 22.0 189.6 (0.5) (0.3) (0.4) (0.2) 0 0
Other Current Liabilities 3,054 2,938 2,983 3,082 2,684 2,130 1,508 1,470 1,848 1,324.1 534 521.5 42.6 274.9 456.0 65.4 507.9 796.7 913.9 663.6 555.8 444.2 341.3 285
Total Current Liabilities 15,189 13,332 14,012 17,010 13,436 10,304 6,197 6,147 7,048 4,866 1,639.3 1,540.2 578.7 684.8 1,103.7 1,142.0 728.6 1,066.3 1,138.3 1,092.2 913.2 714.8 536.5 416.2
Non-Current Liabilities
Long-Term Debt 35,852 29,061 31,308 28,909 32,148 19,107 17,076 17,719 18,873 15,482 2,065.9 2,027.4 226.1 229.5 451.3 728 1,528 1,566 1,808.6 1,742.9 1,550 1,116 1,049.8 647.5
Deferred Tax Liabilities 1,493 1,268 1,922 2,849 3,837 1,794 2,192 2,265 2,766 2,557.4 1,933.8 1,978 15.2 11.6 10.1 7.9 10.7 81.8 102.4 90.8 81.7 59.2 57.9 48.4
Other Non-Current Liabilities 1,895 1,612 1,899 1,746 2,099 1,941 2,076 2,160 2,569 1,572.6 555.1 601.7 91.2 80.3 48.5 32.1 0 81.2 307 59.2 81 65.9 57.7 210.9
Total Non-Current Liabilities 41,618 34,318 37,872 35,996 40,710 24,231 22,509 22,499 24,208 19,502.4 4,554.8 4,623.2 332.4 321.4 510.0 768.0 1,575.7 1,729 2,201.5 1,892.9 1,713 1,241.1 1,165.4 906.8
Total Liabilities 56,807 47,650 51,884 53,006 54,146 34,535 28,706 28,646 31,256 24,368 6,169.9 6,163.4 911.2 1,006.2 1,613.7 1,910.0 2,304.3 2,795.3 3,339.8 2,985.1 2,626.2 1,955.9 1,701.9 1,323
Stockholders' Equity
Common Stock 445 444 442 441 439 437 434 432 428 415.1 423.9 421.8 179.8 175.5 170.0 200 196 167 167 159 150 88 0 0
Retained Earnings 59,156 53,102 47,364 41,910 35,431 28,116 22,092 18,696 15,914 13,926.9 4,350.8 3,528.7 1,381.3 1,019.4 819.4 510 1,006 1,042 1,217 1,035 795 612 465.5 362.1
Accumulated Other Comprehensive Income (2,448) (2,697) (3,224) (3,099) (2,329) (2,807) (2,679) (2,498) (2,003) (2,636.3) 92 (145.8) 158.8 81.5 (38.5) (204) (103) (116) (36) (72) 16 2 (179.2) 0
Total Stockholders' Equity 53,407 49,584 46,735 43,978 40,793 34,507 29,675 27,586 25,413 21,539.3 15,430.9 14,926.6 2,665.6 2,382.8 2,033.3 1,908 2,534 2,014 2,248 1,998 1,754 1,300 990.3 873
Total Liabilities & Equity 110,343 97,321 98,726 97,154 95,123 69,052 58,381 56,232 56,589 45,908 21,600.8 21,090 3,576.7 3,389.0 3,647.1 3,825.1 4,863.0 5,181.8 6,331.6 5,795.9 5,141.2 3,744.9 3,019.9 2,473.7
Debt Metrics
Total Debt 40,855 32,775 36,424 36,073 36,339 22,545 18,490 18,990 21,008 16,627.9 2,183.4 2,058.3 241.1 275.5 935.8 787 1,609 1,679 2,160 1,920 1,704 1,222 1,132.8 693.4
Net Debt 30,998 28,766 28,341 27,549 31,862 12,220 16,070 16,875 19,649 15,841.7 619.3 777.8 (85.8) (28.4) 596.8 489 1,103 1,397 1,763 1,326 1,290 760 750 367.7
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Operating Activities
Net Income 6,721 6,338 5,995 6,960 7,728 6,375 3,696 2,938 2,228 2,025.3 198.3 361.8 172.7 309.7 (0.8) (23.7) (176.1) 176.8 239.3 190.8 140.1 103.4 76.6
Depreciation & Amortization 2,780 3,108 3,406 3,381 2,592 2,325 2,277 2,267 2,033 1,758 123.3 66.1 58.5 56.4 98.5 97.5 113.6 162.3 135.7 115.2 85 62.3 42.4
Stock-Based Compensation 0 301 278 307 230 196 181 181 159 133.5 0 0 0 0 0 0 0 0 0 0 0 0 0
Change in Working Capital (1,808) (334) (537) (1,049) (1,558) (395) (619) (530) 485 (248.6) (30.8) (29.8) 24.8 (64.7) 7.0 (43.7) (8.1) (49.2) (115.9) (98.3) (48.2) 24.6 (24.5)
Other Non-Cash Items 764 463 564 550 957 340 (214) 106 189 86.3 (14.5) (136.7) (23.2) (222.3) 34.3 209.6 (0.1) 46.8 0.1 126.3 103.8 41.4 58
Operating Cash Flow 7,818 8,667 8,406 9,154 9,543 8,289 4,973 4,543 4,005 3,156.3 270.9 264.5 216.7 102.9 188.4 199.9 337.1 328.5 269 224.5 194.6 204.2 126.7
Investing Activities
Capital Expenditure (1,525) (1,400) (1,479) (2,243) (2,523) (1,474) (926) (758) (508) (444.4) (43.5) (50.0) (46.1) (51.2) (84.8) (74.0) (488) (401.2) (960.7) (124.5) (62.9) (60.2) (56.6)
Acquisitions (4,037) (3,132) (3,660) (39) (19,395) (38) (715) (536) (7,226) (5,188.4) (933.2) (143.0) (134.9) (78.7) (83.7) (15.8) 22.5 28.4 15.6 0 5.6 21.4 0
Purchases of Investments (383) (3,396) 0 (15) (8) 0 0 0 (15) (54.9) (231.9) (611.1) (0.2) (0.1) (969.3) (473.6) (551.4) (2,194.8) (973.7) (831) (570.1) (748.9) (214.5)
Sales/Maturities of Investments 1,565 1,770 70 15 8 0 0 0 22 81.2 369.8 664.8 467.8 339.1 830.6 516.4 1,075.8 1,936.6 1,543 0 617.1 495.4 16.7
Other Investing Activities 333 317 (73) 123 (14) 2 154 41 (2) 74.4 85.4 173.4 92.2 299.4 483.3 276.6 (132.5) (1.3) 56 (355.8) (371.7) (157.7) (144.9)
Investing Cash Flow (4,047) (5,841) (5,142) (2,159) (21,932) (1,510) (1,487) (1,253) (7,729) (5,532.1) (753.5) 34.2 378.8 508.5 176.2 229.6 (73.6) (632.3) (319.8) (1,311.3) (382) (450) (399.3)
Financing Activities
Net Debt Issuance 5,347 (2,403) (155) 654 8,911 2,750 (717) (1,556) 3,026 4,173.9 365.7 (9.2) (638.2) (286.9) (59.8) (209.6) (27.5) 326.1 192.3 876.2 186.6 341.5 90.5
Stock Repurchased (3,000) (4,000) (3,000) (3,000) (2,000) (1,500) (1,500) (500) (750) (1,250) 0 0 (88.9) (334.2) (511.4) 0 (190.4) (470.6) (121.6) (140.9) (97.8) (101.5) (57.2)
Dividends Paid (636) (583) (523) (455) (395) (337) (297) (266) (237) (238.4) 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities 90 194 56 (9) 65 46 (604) 85 (3) 39.8 (2.0) (231.6) (11.6) 2.7 (195.0) 13.5 (7.3) (23.3) 37.4 (1.3) 1.1 0.3 (1)
Financing Cash Flow 1,801 (6,792) (3,622) (2,810) 6,581 959 (3,118) (2,237) 3,854 2,860.6 390.9 (183.2) (665.6) (593.0) (696.3) (137.6) (286.9) 102.2 237.8 1,038 263.2 300.9 411.1
Cash Position
Net Change in Cash 5,839 (4,057) (440) 4,046 (5,845) 7,914 305 756 550 334.1 (112.6) 131.1 (35.2) 33.9 (331.1) 279.0 (39.5) (196.8) 179.2 (48.4) 79 57.1 135.1
Cash at Beginning 4,040 8,097 8,537 4,491 10,336 2,422 2,117 1,361 811 452.1 326.9 195.8 339.1 305.2 636.3 357.2 396.7 593.6 414.4 462.9 383 325.7 190.6
Cash at End 9,879 4,040 8,097 8,537 4,491 10,336 2,422 2,117 1,361 786.2 214.3 326.9 303.9 339.1 305.2 636.3 357.2 396.8 593.6 414.5 462 382.8 325.7
Free Cash Flow 6,293 7,267 6,927 6,911 7,020 6,815 4,047 3,785 3,497 2,711.9 227.4 214.5 170.6 51.7 103.6 125.9 (150.9) (72.7) (691.7) 100 131.7 144 70.1
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Income Statement
Revenue 44,556 42,879 42,857 44,915 39,211 32,218 25,542 24,358 20,918 18,274.1 16,965.4 16,889.6 13,090.3 12,509.9 11,725.9 10,788.7 10,109.7 10,498 9,746.4 3,791.6 2,633.0 2,206.0 2,097.1 2,086.4 2,188.2 2,280.5 2,471.2 3,867.6 3,558.3 2,932.6 2,207.4 1,585.3 1,249.7
Gross Profit 16,778 17,728 17,194 19,011 19,634 16,027 11,344 10,988 9,679 8,581.9 7,838 7,885.5 5,625.7 5,414.3 4,866.6 4,274.7 4,070.3 4,242.4 3,894.1 1,686.9 1,237.5 1,015.6 948.0 927.4 958.6 1,021.8 1,206.3 1,843 1,720.7 1,390.1 1,082.7 719 536.6
Operating Income 8,109 7,662 7,446 8,525 10,318 7,897 4,259 3,872 3,267 2,858.9 2,494.5 2,348.4 1,798.7 1,629.3 1,481.4 1,264.5 1,117.9 1,266.3 1,065.8 365.3 293.8 254.4 184.8 155.5 34.2 198.2 248.6 375.8 407 284.2 247.3 179.8 123.6
Net Income 6,737 6,335 5,995 6,950 7,725 6,375 3,696 2,938 2,225 2,021.8 1,975.4 1,894.4 1,273.3 1,177.9 1,329.9 1,035.6 850.3 994.2 761.1 168.9 223.2 361.8 200.0 309.7 (0.8) (36.1) (174.6) 181.9 239.3 190.8 140.1 103.4 76.6
EPS (Diluted) 17.74 16.53 15.45 17.64 19.46 15.98 9.17 7.24 5.59 5.09 4.92 4.71 3.48 3.21 3.46 2.53 2.01 2.25 1.72 0.84 1.36 2.17 1.20 1.73 -0.00 -0.22 -1.10 1.08 1.41 1.22 0.99 0.82 0.29
Balance Sheet
Cash & Equivalents 9,857 4,019 8,083 8,524 4,477 10,325 2,399 2,103 1,335 786 1,564.1 1,280.5 326.9 303.9 339.0 298 506 282 397 594 414 462 382.8 325.7
Total Assets 110,343 97,321 98,726 97,154 95,123 69,052 58,381 56,232 56,669 45,908 21,600.8 21,090 3,576.7 3,389.0 3,647.1 3,825.1 4,863.0 5,181.8 6,331.6 5,795.9 5,141.2 3,744.9 3,019.9 2,473.7
Total Debt 40,855 32,775 36,424 36,073 36,339 22,545 18,490 18,990 21,008 16,627.9 2,183.4 2,058.3 241.1 275.5 935.8 787 1,609 1,679 2,160 1,920 1,704 1,222 1,132.8 693.4
Stockholders' Equity 53,407 49,584 46,735 43,978 40,793 34,507 29,675 27,586 25,413 21,539.3 15,430.9 14,926.6 2,665.6 2,382.8 2,033.3 1,908 2,534 2,014 2,248 1,998 1,754 1,300 990.3 873
Cash Flow
Operating Cash Flow 7,818 8,667 8,406 9,154 9,543 8,289 4,973 4,543 4,005 3,156.3 270.9 264.5 216.7 102.9 188.4 199.9 337.1 328.5 269 224.5 194.6 204.2 126.7
Capital Expenditure (1,525) (1,400) (1,479) (2,243) (2,523) (1,474) (926) (758) (508) (444.4) (43.5) (50.0) (46.1) (51.2) (84.8) (74.0) (488) (401.2) (960.7) (124.5) (62.9) (60.2) (56.6)
Free Cash Flow 6,293 7,267 6,927 6,911 7,020 6,815 4,047 3,785 3,497 2,711.9 227.4 214.5 170.6 51.7 103.6 125.9 (150.9) (72.7) (691.7) 100 131.7 144 70.1