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Thermo Fisher Scientific Inc (TMO) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

HEALTHCARE · Life Sciences Tools & Services · DATA UPDATED 2026-08-14

Thermo Fisher Scientific Inc (TMO) operates in the Life Sciences Tools & Services industry and is headquartered in Waltham, United States with about 125,000 employees. Its market capitalization is roughly $241 billion. In the fiscal year ended 2025-12-31, TMO reported $44.6B in revenue and $6.7B in net income.

Thermo Fisher Scientific Inc. provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services internationally.

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TMO Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$46.3B	$44.6B	$42.9B	$42.9B	$44.9B	$39.2B	$32.2B	$25.5B	$24.4B	$20.9B	$18.3B	$17.0B	$16.9B	$13.1B	$12.5B	$11.7B	$10.8B	$10.1B	$10.5B	$9.7B	$3.8B
Gross Profit	$18.7B	$16.8B	$17.7B	$17.6B	$19.0B	$19.6B	$16.0B	$11.3B	$11.0B	$9.7B	$8.6B	$7.8B	$7.9B	$5.6B	$5.4B	$4.9B	$4.3B	$4.1B	$4.2B	$3.9B	$1.7B
Gross Margin %	40.4%	37.7%	41.3%	41.0%	42.3%	50.1%	49.8%	44.4%	45.1%	46.3%	47.0%	46.2%	46.7%	43.0%	43.3%	41.5%	39.6%	40.3%	40.4%	40.0%	44.5%
Operating Income (EBIT)	$8.2B	$8.1B	$7.7B	$6.9B	$8.5B	$10.3B	$7.9B	$4.3B	$3.9B	$3.3B	$2.9B	$2.5B	$2.3B	$1.8B	$1.6B	$1.5B	$1.3B	$1.1B	$1.3B	$1.1B	$365M
Operating Margin %	17.7%	18.2%	17.9%	16.0%	19.0%	26.3%	24.5%	16.7%	15.9%	15.6%	15.6%	14.7%	13.9%	13.7%	13.0%	12.6%	11.7%	11.1%	12.1%	10.9%	9.6%
Net Income	$7.0B	$6.7B	$6.3B	$6.0B	$7.0B	$7.7B	$6.4B	$3.7B	$2.9B	$2.2B	$2.0B	$2.0B	$1.9B	$1.3B	$1.2B	$1.3B	$1.0B	$850M	$994M	$761M	$169M
Net Margin %	15.1%	15.1%	14.8%	14.0%	15.5%	19.7%	19.8%	14.5%	12.1%	10.6%	11.1%	11.6%	11.2%	9.7%	9.4%	11.3%	9.6%	8.4%	9.5%	7.8%	4.5%
EBITDA	$10.9B	$11.5B	$11.8B	$6.9B	$11.9B	$12.0B	$10.1B	$7.0B	$6.2B	$5.1B	$4.3B	$4.0B	$4.3B	$2.6B	$2.5B	$2.2B	$1.9B	$1.8B	$2.1B	$1.8B	$502M
Earnings Per Share (EPS)	$18.62	$17.87	$16.54	$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	$2.29	$1.72	$0.83
Shares Outstanding (M)	371M	377M	383M	388M	394M	397M	399M	403M	406M	398M	397M	402M	402M	366M	367M	385M	409M	423M	435M	444M	204M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

TMO Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$12.0B	$11.0B	$12.2B	$11.1B	$10.9B	$10.4B	$11.4B	$10.6B
Gross Profit	$4.9B	$4.5B	$4.6B	$4.7B	$4.0B	$4.2B	$4.5B	$4.3B
Gross Margin %	41.2%	40.7%	38.0%	41.8%	37.3%	41.0%	39.2%	41.0%
Operating Income (EBIT)	$2.1B	$1.9B	$2.3B	$1.9B	$1.9B	$1.8B	$2.3B	$1.9B
Operating Margin %	17.4%	16.9%	18.9%	17.5%	17.7%	17.8%	19.9%	18.1%
Net Income	$1.7B	$1.7B	$2.0B	$1.6B	$1.6B	$1.5B	$1.8B	$1.6B
Net Margin %	14.5%	15.0%	16.2%	14.5%	14.9%	14.5%	16.1%	15.4%
EBITDA	$2.6B	$2.3B	$3.2B	$2.8B	$2.8B	$2.6B	$3.1B	$2.9B
Earnings Per Share (EPS)	$4.68	$4.43	$5.24	$4.28	$4.28	$3.98	$4.78	$4.24
Shares Outstanding (M)	371M	373M	377M	378M	378M	379M	383M	384M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

TMO Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$9.0B	$7.8B	$8.7B	$8.4B	$9.2B	$9.5B	$8.3B	$5.0B	$4.5B	$4.0B	$3.2B	$2.8B	$2.6B	$2.0B	$2.0B	$1.7B	$1.5B	$1.7B	$1.4B	$1.5B	$406M
Capital Expenditures (CapEx)	$1.7B	$1.5B	$1.4B	$1.5B	$2.2B	$2.5B	$1.5B	$926M	$758M	$508M	$444M	$423M	$428M	$282M	$315M	$266M	$266M	$208M	$264M	$176M	$77M
Free Cash Flow (FCF)	$7.3B	$6.3B	$7.3B	$6.9B	$6.9B	$7.0B	$6.8B	$4.0B	$3.8B	$3.5B	$2.7B	$2.4B	$2.2B	$1.7B	$1.7B	$1.4B	$1.2B	$1.5B	$1.2B	$1.3B	$329M
FCF Margin %	15.8%	14.1%	17.0%	16.2%	15.4%	17.9%	21.1%	15.8%	15.5%	16.7%	14.8%	14.1%	13.0%	13.2%	13.8%	12.2%	11.4%	14.4%	11.0%	13.4%	8.7%
Dividends Paid	$662M	$636M	$583M	$523M	$455M	$395M	$337M	$297M	$266M	$237M	$238M	$241M	$235M	$216M	$142M	$5.2B	$741M	$748M	—	—	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

TMO Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$2.1B	$1.2B	$3.5B	$2.2B	$1.4B	$723M	$3.3B	$2.2B
Capital Expenditures (CapEx)	$450M	$376M	$465M	$404M	$294M	$362M	$480M	$272M
Free Cash Flow (FCF)	$1.7B	$816M	$3.0B	$1.8B	$1.1B	$361M	$2.8B	$1.9B
FCF Margin %	14.0%	7.4%	24.5%	16.5%	10.2%	3.5%	24.7%	17.9%
Dividends Paid	$175M	$162M	$162M	$163M	$162M	$149M	$149M	$150M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

TMO Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$113.2B	$110.3B	$97.3B	$98.7B	$97.2B	$95.1B	$69.1B	$58.4B	$56.2B	$56.7B	$45.9B	$40.8B	$42.9B	$31.9B	$27.4B	$26.8B	$21.4B	$21.6B	$21.1B	$21.2B	$21.3B
Cash & Cash Equivalents	$4.1B	$9.9B	$4.0B	$8.1B	$8.5B	$4.5B	$10.3B	$2.4B	$2.1B	$1.3B	$786M	$452M	$1.3B	$5.8B	$806M	$1.0B	$917M	$1.6B	$1.3B	$625M	$667M
Total Liabilities	$60.5B	$56.8B	$47.6B	$51.9B	$53.0B	$54.1B	$34.5B	$28.7B	$28.6B	$31.3B	$24.4B	$19.5B	$22.3B	$15.0B	$12.0B	$11.8B	$6.0B	$6.2B	$6.2B	$6.7B	$7.3B
Total Debt (Short + Long-Term)	$42.5B	$39.4B	$31.5B	$35.2B	$34.8B	$35.1B	$21.9B	$17.9B	$19.0B	$21.0B	$17.5B	$12.5B	$14.6B	$10.5B	$7.1B	$7.0B	$2.1B	$2.3B	$2.1B	$2.2B	$2.0B
Total Shareholders' Equity	$52.7B	$53.4B	$49.6B	$46.7B	$44.0B	$40.8B	$34.5B	$29.7B	$27.6B	$25.4B	$21.5B	$21.4B	$20.5B	$16.9B	$15.5B	$15.0B	$15.4B	$15.4B	$14.9B	$14.5B	$13.9B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive TMO viewer.

TMO Metric Deep Dives

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