Thermo Fisher Scientific (TMO) Financial Statements & Analysis

Thermo Fisher Scientific (TMO) Income Statement

Thermo Fisher Scientific reported revenue of $44.56B in fiscal 2025 (fiscal year ended Dec 31, 2025), up 3.9% from $42.88B a year earlier. Net income was $6.74B, up 6.3% year over year, a net margin of 15.1%. Gross margin was 40.9% and operating margin 18.2%. In the most recent quarter, Q3 fiscal 2026 (ended Sep 26, 2026), revenue was $12.14B, up 9.1% from the same quarter a year earlier.

Thermo Fisher Scientific Income Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Thermo Fisher Scientific Inc. income statement - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	44.56	42.88	42.86	44.92	39.21	32.22	25.54	24.36	20.92
Cost of Revenue	26.32	25.18	25.66	25.90	19.57	16.19	14.20	13.37	11.24
Gross Profit	18.24	17.70	17.19	19.01	19.64	16.03	11.34	10.99	9.68
Operating Expenses
Research & Development	1.40	1.39	1.34	1.47	1.41	1.18	1.00	0.97	0.89
Selling, General & Administrative	8.73	8.60	8.41	9.02	7.86	6.95	6.06	6.03	5.41
Operating Expenses	10.13	9.99	9.75	10.49	9.61	8.13	7.09	7.12	6.41
Operating Income	8.11	7.72	7.45	8.53	10.03	7.90	4.26	3.87	3.27
Other Income/Expense
Interest Income	0.99	1.08	0.88	0.27	0.04	0.07	0.22	0.14	0.08
Interest Expense	1.42	1.39	1.49	0.73	-0.54	0.55	0.68	0.67	0.59
Other Income/Expense	-0.84	-0.37	-1.21	-0.86	-1.19	-0.67	-0.19	-0.61	-0.84
Income
Income Before Tax	7.27	7.04	6.24	7.66	8.84	7.23	4.07	3.26	2.43
Income Tax Expense	0.55	0.66	0.28	0.70	1.11	0.85	0.37	0.32	0.20
Net Income	6.74	6.34	6.00	6.95	7.73	6.38	3.70	2.94	2.23
Net Income - Continuous Operations	6.74	6.34	6.00	6.95	7.73	6.38	3.70	2.94	2.23
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	11.47	11.54	11.20	11.94	12.96	10.11	7.02	6.20	5.05
EBIT	8.73	8.43	7.67	8.56	10.37	-	-	-	-
Depreciation & Amortization	2.78	3.11	3.41	3.38	2.59	2.33	2.28	2.27	2.03
Earnings Per Share
Basic EPS	18.00	17.00	16.00	18.00	20.00	16.00	9.00	7.00	6.00
Diluted EPS	18.00	17.00	15.00	18.00	19.00	16.00	9.00	7.00	6.00
Basic Shares Outstanding	0.38	0.38	0.39	0.39	0.39	0.40	0.40	0.40	0.40
Diluted Shares Outstanding	0.38	0.38	0.39	0.39	0.40	0.40	0.40	0.41	0.40

Source: Company financial statements from annual and quarterly filings. Data as of Sep 26, 2026. Data sources and methodology

Frequently Asked Questions About Thermo Fisher Scientific Financial Statements

What was Thermo Fisher Scientific's revenue in fiscal 2025?

Thermo Fisher Scientific reported revenue of $44.56B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 3.9% from $42.88B a year earlier.

Is Thermo Fisher Scientific profitable?

Yes. Thermo Fisher Scientific earned net income of $6.74B in fiscal 2025, a net margin of 15.1%. In fiscal 2024 it earned $6.33B.

What is Thermo Fisher Scientific's operating margin?

Thermo Fisher Scientific's operating income was $8.11B on revenue of $44.56B in fiscal 2025, an operating margin of 18.2%, compared with 18.0% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition