Thermo Fisher Scientific is a major US provider for labs and pharmaceutical research. It supplies analytical instruments, lab supplies and reagents and, as a service provider, takes over parts of drug development and manufacturing. Customers are pharmaceutical companies, labs and hospitals worldwide. As of Oct 11, 2026
Thermo Fisher Scientific supplies pharmaceutical companies, hospitals, diagnostic labs, universities, research institutes, government agencies and industry. The life sciences segment supplies reagents, instruments and consumables for biological and medical research and bioproduction. The analytical instruments range from chromatography and mass spectrometry to electron microscopy, also for semiconductor customers. For diagnostics there are test kits, reagents, culture media and instruments for hospitals, labs and food testing. Another segment supplies lab products and takes over outsourced development, manufacturing and clinical trials for pharmaceutical companies. Sales run through its own field sales force, customer service, e-commerce and third-party distributors.
Automatically summarized from SEC annual report (10-K, filed Feb 26, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 14, 2026
Our own calculation from the exchange’s daily candles, as of Oct 27, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
This method currently detects no pattern for TMO. The check runs daily after the close.
You see new patterns immediately from Watcher, on the free plan 2 days after they form. Plans and pricing
What is this? After strong news, usually earnings, the price opened above the previous day’s high and closed much higher on heavy volume. Such moves often continue for a few more days.
This is a calculated analysis, not a forecast and not a call to buy. Risk notice and investment advice
Thermo Fisher Scientific · Sector Health Care · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Feb 26, 2026.
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
Fiscal year to Dec 31, 2025
17.4% Fiscal year 2025
Rank 52 of 100: higher than 52% of 192 peers (All). medium.
Rank 43 of 100: higher than 43% of 20 peers (Sector). medium.
Median Health Care: 18.0%
Operating income divided by revenue: what the core business earns before interest and taxes.
15.0% Fiscal year 2025
Rank 55 of 100: higher than 55% of 237 peers (All). medium.
Rank 63 of 100: higher than 63% of 26 peers (Sector). medium.
Median Health Care: 13.9%
Profit after all costs, interest and taxes divided by revenue.
12.6% Fiscal year 2025
Rank 41 of 100: higher than 41% of 218 peers (All). medium.
Rank 40 of 100: higher than 40% of 21 peers (Sector). medium.
Median Health Care: 14.3%
Net income divided by equity at fiscal year end.
6.1% Fiscal year 2025 (total assets at year end)
Rank 51 of 100: higher than 51% of 238 peers (All). medium.
Rank 48 of 100: higher than 48% of 26 peers (Sector). medium.
Median Health Care: 6.4%
Net income divided by total assets at fiscal year end.
48.4% Fiscal year 2025
Rank 68 of 100: higher than 68% of 239 peers (All). strong.
Rank 67 of 100: higher than 67% of 26 peers (Sector). strong.
Median Health Care: 38.5%
Equity as a share of total assets. Usually low for banks.
14.1% Fiscal year 2025
Rank 50 of 100: higher than 50% of 213 peers (All). medium.
Rank 42 of 100: higher than 42% of 25 peers (Sector). medium.
Median Health Care: 14.9%
Free cash flow divided by revenue.
6.3B USD Fiscal year 2025
Operating cash flow minus capital expenditure on property and equipment.
−0.3% per year
Rank 16 of 100: higher than 16% of 230 peers (All). weak.
Rank 18 of 100: higher than 18% of 25 peers (Sector). weak.
Median Health Care: +5.6%
Average growth per year over 3 fiscal years.
+6.7% per year
Rank 28 of 100: higher than 28% of 217 peers (All). weak.
Rank 34 of 100: higher than 34% of 25 peers (Sector). medium.
Median Health Care: +8.5%
Average growth per year over 5 fiscal years.
+10.1% per year
Rank 64 of 100: higher than 64% of 157 peers (All). medium.
Rank 50 of 100: higher than 50% of 19 peers (Sector). medium.
Median Health Care: +10.1%
Average growth per year over 10 fiscal years.
+0.2% per year
Rank 25 of 100: higher than 25% of 157 peers (All). weak.
Rank 30 of 100: higher than 30% of 22 peers (Sector). weak.
Median Health Care: +5.5%
Growth of earnings per share per year, adjusted for stock splits.
+2.1% per year
Rank 16 of 100: higher than 16% of 146 peers (All). weak.
Rank 33 of 100: higher than 33% of 20 peers (Sector). medium.
Median Health Care: +7.0%
Growth of earnings per share per year, adjusted for stock splits.
+13.7% per year
Rank 66 of 100: higher than 66% of 140 peers (All). medium.
Rank 63 of 100: higher than 63% of 20 peers (Sector). medium.
Median Health Care: +8.3%
Growth of earnings per share per year, adjusted for stock splits.
10% Fiscal year 2025
Dividend per share divided by earnings per share.
+14.3% per year
Rank 75 of 100: higher than 75% of 118 peers (All). strong.
Rank 78 of 100: higher than 78% of 16 peers (Sector). strong.
Median Health Care: +7.8%
Growth of the dividend per share per year.
9.7x Fiscal year 2025
Free cash flow per share divided by dividend per share. From 1x the dividend is covered.
7 of 8 Fiscal year 2025
No rank: not all 9 criteria have data.
Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.
0.67 at fiscal year end
Rank 47 of 100: lower than 47% of 199 peers (All). medium.
Rank 58 of 100: lower than 58% of 18 peers (Sector). medium.
Median Health Care: 0.72
Long-term financial debt divided by equity.
1.89 at fiscal year end
Rank 65 of 100: higher than 65% of 215 peers (All). medium.
Rank 63 of 100: higher than 63% of 26 peers (Sector). medium.
Median Health Care: 1.56
Current assets divided by current liabilities.
−5.3% in 5 years
Rank 64 of 100: lower than 64% of 199 peers (All). medium.
Rank 65 of 100: lower than 65% of 24 peers (Sector). medium.
Median Health Care: −2.7%
Change in diluted share count. Negative = share buybacks, positive = new shares.
Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 44.6B USD · Net income 6.7B USD · Net margin 15.0%
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Of 100 USD of revenue, 17.4 USD operating income and 15.0 USD net income remained.
| Item | Amount | of revenue |
|---|---|---|
| Revenue | 44.6B USD | 100.0% |
| Operating income | 7.7B USD | 17.4% |
| Research & development | 1.4B USD | 3.1% |
| Remaining cost of revenue and operating expenses | 35.4B USD | 79.5% |
| Net income | 6.7B USD | 15.0% |
| Taxes | 547.0M USD | 1.2% |
| Interest & other (net) | 495.0M USD | 1.1% |
Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.
The operating margin fell in 5 years from 24.2% to 17.4%.
Gross marginOperating marginNet marginReturn on equity fell in 5 years from 18.5% to 12.6%.
Return on equityReturn on assetsThe equity ratio fell in 5 years from 50.0% to 48.4%.
EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases. Definition changes: some years use a different debt tag.The current ratio fell in 5 years from 2.13 to 1.89.
Current ratioFree cash flow fell in 5 years from 6.8B USD to 6.3B USD.
Operating cash flowCapital expenditureFree cash flow in USDThe share count fell in 5 years by 5.3% (mostly through share repurchases).
Diluted share countFrom annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
The dividend per share rose in 5 years from 0.88 USD to 1.72 USD.
Dividend per share USD per share Per share as filed with the SEC, including special dividends; obvious filing errors are hidden.The payout ratio rose in 5 years from 5.5% to 9.7%.
Payout ratio (earnings)Payout ratio (free cash flow)Over 5 years, 17.6B USD went back to shareholders, 85% of it through share repurchases. That is 51% of the free cash flow of those years.
Dividends paidShare repurchasesNew shares issued (including employee plans)Free cash flow in USDDividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users. Log in
Thermo Fisher Scientific next to 8 stocks of the sector Health Care we cover that are closest in revenue. Click a column header to sort the table.
| Symbol | Revenue (FY) | Growth 5 yrs | Gross margin | Op. margin | Net margin | ROE | Equity ratio | FCF margin | Piotroski |
|---|---|---|---|---|---|---|---|---|---|
| LLY Lilly (Eli) | 65.2B USD | +21.6% | 83.0% | – | 31.7% | 77.8% | 23.6% | 13.8% | 7/9 |
| MRK Merck & Co. | 65.0B USD | +6.3% | 74.8% | – | 28.1% | 34.7% | 38.4% | 19.0% | 4/9 |
| PFE Pfizer | 62.6B USD | +8.5% | 74.3% | – | 12.4% | 9.0% | 41.5% | 14.5% | 6/9 |
| ABBV AbbVie | 61.2B USD | +6.0% | 70.2% | 24.6% | 6.9% | – | −2.4% | 29.1% | 8/9 |
| BMY Bristol Myers Squibb | 48.2B USD | +2.5% | 71.1% | – | 14.6% | 38.2% | 20.5% | 26.7% | 8/9 |
| TMO Thermo Fisher Scientific this stock | 44.6B USD | +6.7% | – | 17.4% | 15.0% | 12.6% | 48.4% | 14.1% | – |
| ABT Abbott Laboratories | 44.3B USD | +5.1% | 56.4% | 18.2% | 14.7% | 12.5% | 60.1% | 16.7% | 6/9 |
| AMGN Amgen | 36.8B USD | +7.6% | 67.2% | 24.7% | 21.0% | 89.1% | 9.6% | 22.0% | 7/9 |
| MDT Medtronic | 36.4B USD | +3.8% | 65.0% | 17.8% | 13.2% | 9.7% | 53.2% | 14.9% | 7/9 |
| Median of the sector 26 symbols | 44.4B USD | +8.5% | 66.6% | 18.0% | 13.9% | 14.3% | 38.5% | 14.9% | 7/9 |
Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).
Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 63 symbols in the Health Care sector on our list (current members of the S&P 500 and other lists).
+6.7% per year, last 5 years
Sector Health Care: median +7.8% (60 symbols)
What does this mean? Revenue: over 5 years it grew by 6.7% per year on average, but more slowly than the median company in the sector (+7.8%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
+1.0% per year, last 5 years
Sector Health Care: median +7.5% (46 symbols)
per share: +2.1% per year (5 years, split-adjusted)
What does this mean? Total net income: over 5 years it grew by 1.0% per year on average, but more slowly than the median company in the sector (+7.5%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
15.0% last fiscal year
Sector Health Care: median 12.9% (63 symbols)
What does this mean? Of every 100 USD in revenue, 15.05 USD remained as profit – at least as much as the median company in the sector (12.9%). Five years ago the margin was 19.8%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
0.80 latest balance sheet
Sector Health Care: median 0.66 (49 symbols)
What does this mean? For every 1 USD of equity there is 0.80 USD of financial debt – more than the median company in the sector (0.66). More debt amplifies good and bad years alike.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
10% Dividend / earnings per share
Sector Health Care: median 28% (31 symbols)
What does this mean? Of every 1 USD of earnings per share, 0.10 USD went to shareholders as a dividend. The rest stays in the company. Median company in the sector: 28%.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
7 of 7 fiscal years with a profit
What does this mean? In 7 of the last 7 fiscal years the bottom line showed a profit. There were no losses in this period.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
| Year | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| 2025 | Dec 31, 2025 | 44.6B | 6.7B | 15.0% | 17.74 | 1.72 | 10% |
| 2024 | Dec 31, 2024 | 42.9B | 6.3B | 14.8% | 16.53 | 1.56 | 9% |
| 2023 | Dec 31, 2023 | 42.9B | 6.0B | 14.0% | 15.45 | 1.40 | 9% |
| 2022 | Dec 31, 2022 | 44.9B | 7.0B | 15.5% | 17.63 | 1.20 | 7% |
| 2021 | Dec 31, 2021 | 39.2B | 7.7B | 19.7% | 19.46 | 1.04 | 5% |
| 2020 | Dec 31, 2020 | 32.2B | 6.4B | 19.8% | 15.96 | 0.88 | 6% |
| 2019 | Dec 31, 2019 | 25.5B | 3.7B | 14.5% | 9.17 | 0.76 | 8% |
| 2018 | Dec 31, 2018 | 24.4B | – | – | 7.24 | 0.68 | 9% |
| 2017 | Dec 31, 2017 | 20.9B | – | – | 5.59 | 0.60 | 11% |
| 2016 | Dec 31, 2016 | 18.3B | – | – | 5.09 | 0.60 | 12% |
| Quarter | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| Q2/26 | Jun 27, 2026 | 12.0B | 1.7B | 14.5% | 4.68 | 0.47 | 10% |
| Q1/26 | Mar 28, 2026 | 11.0B | 1.7B | 15.0% | 4.43 | 0.47 | 11% |
| Q4/25* | Dec 31, 2025 | 12.2B | 2.0B | 16.1% | – | 0.43 | – |
| Q3/25 | Sep 27, 2025 | 11.1B | 1.6B | 14.5% | 4.27 | 0.43 | 10% |
| Q2/25 | Jun 28, 2025 | 10.9B | 1.6B | 14.9% | 4.28 | 0.43 | 10% |
| Q1/25 | Mar 29, 2025 | 10.4B | 1.5B | 14.5% | 3.98 | 0.43 | 11% |
| Q4/24* | Dec 31, 2024 | 11.4B | 1.8B | 16.1% | – | 0.39 | – |
| Q3/24 | Sep 28, 2024 | 10.6B | 1.6B | 15.4% | 4.25 | 0.39 | 9% |
| Q2/24 | Jun 29, 2024 | 10.5B | 1.5B | 14.7% | 4.04 | 0.39 | 10% |
| Q1/24 | Mar 30, 2024 | 10.3B | 1.3B | 12.9% | 3.46 | 0.39 | 11% |
| Q4/23* | Dec 31, 2023 | 10.9B | – | – | – | 0.35 | – |
| Q3/23 | Sep 30, 2023 | 10.6B | 1.7B | 16.0% | 4.42 | 0.35 | 8% |
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
| Period | Purchases | Sales | Net |
|---|---|---|---|
| 3 months | $00 people | $61.3M5 people | −$61.3M |
| 6 months | $00 people | $61.6M5 people | −$61.6M |
| 12 months | $00 people | $144.0M7 people | −$144.0M |
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.
Latest news
No posts on TMO yet – log in to join the discussion.
Posts are opinions of users and only visible after logging in. Community rules