Thermo Fisher Scientific Inc (TMO) Stock Analysis
Healthcare · Diagnostics & Research · NYSE
Thermo Fisher Scientific Inc (TMO) posted $44.56B in revenue for fiscal 2025 (up 3.9% year over year), at a 15.0% net margin, and has compounded revenue about 6.7%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Thermo Fisher Scientific Inc
Thermo Fisher Scientific Inc has grown revenue from $18.27B to $44.56B over the last 10 fiscal years, compounding about 6.7% a year. The most recent year was up 3.9%, so growth has cooled from its longer-run pace.
Net margin sits at 15%. It carries about $42.70B of total debt.
The one thing worth a second look in the filings is heavy debt load.
Synthesised from Thermo Fisher Scientific Inc's SEC filings — descriptive, not advice. Ask the analyst your own question →
Thermo Fisher Scientific Inc revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $18.27B | $20.92B | $24.36B | $25.54B | $32.22B | $39.21B | $44.91B | $42.86B | $42.88B | $44.56B |
| Gross profit | $10.06B | $11.94B | — | — | — | — | — | — | — | — |
| Net income | $0 | $0 | $0 | $3.70B | $6.38B | $7.73B | $6.95B | $6.00B | $6.33B | $6.70B |
| Net margin | 0.0% | 0.0% | 0.0% | 14.5% | 19.8% | 19.7% | 15.5% | 14.0% | 14.8% | 15.0% |
Source: Thermo Fisher Scientific Inc SEC filings (10-K). 19 years of history available in the interactive view.
Thermo Fisher Scientific Inc: 1 potential red flag in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Heavy debt loadTotal debt of $42705M is 5.5× last year's operating cash flow — it would take years of cash flow to clear.
Explore 19 years of Thermo Fisher Scientific Inc financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Thermo Fisher Scientific Inc financial history by metric
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About Thermo Fisher Scientific Inc
Thermo Fisher Scientific Inc. provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services internationally. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Biopharma Services. The Life Sciences Solutions segment includes reagents, instruments, and consumables for biological and medical research; discovery and production of drugs and vaccines; and diagnosis of infections and diseases. Its Analytical Instruments segment provides instruments, consumables, software, and services for pharmaceutical, biotechnology, academic, government, environmental, and other research and industrial markets, as well as clinical laboratories. The Specialty Diagnostics segment offers clinical diagnostics products, such as liquid ready-to-use and lyophilized immunodiagnostic reagent kits, calibrators, controls, protein detection assays, and instruments; immunodiagnostic offerings comprising developing, manufacturing, and marketing of complete blood-test systems for the clinical diagnosis and monitoring of allergy, asthma and autoimmune diseases; microbiology offerings, such as dehydrated and prepared culture media, collection and transport systems, instrumentation and consumables to detect pathogens in blood, diagnostic and rapid direct specimen tests, quality-control products, and associated products; transplant diagnostics products, including human leukocyte antigen typing and testing for the organ transplant market; and healthcare market channel offerings. Its Laboratory Products and Biopharma Services segment provides laboratory products, research and safety market channel, and pharma services and clinical research. Thermo Fisher Scientific Inc. was founded in 1956 and is headquartered in Waltham, Massachusetts.
Thermo Fisher Scientific Inc — frequently asked questions
What is Thermo Fisher Scientific Inc's revenue?
Thermo Fisher Scientific Inc (TMO) reported revenue of $44.56B for fiscal year 2025, up 3.9% from the prior year, according to its SEC filings.
Is Thermo Fisher Scientific Inc profitable?
Yes. TMO earned net income of $6.70B in fiscal 2025, a net margin of 15.0%.
What is TMO's P/E ratio?
Thermo Fisher Scientific Inc trades at a price-to-earnings ratio of about 30.9 based on the latest data in our nightly-refreshed cache.
How fast is Thermo Fisher Scientific Inc growing?
TMO's revenue grew at roughly 6.7% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Thermo Fisher Scientific Inc have?
As of fiscal year 2025, TMO carried roughly $42.70B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Thermo Fisher Scientific Inc's market cap?
Thermo Fisher Scientific Inc (TMO) has a market capitalization of about $0, based on the latest data in our nightly-refreshed cache.
When does Thermo Fisher Scientific Inc's fiscal year end?
TMO's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
Where does this data come from?
All figures are computed from Thermo Fisher Scientific Inc's official SEC filings (10-K and 10-Q), covering 19 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.