InsiderClue
Stocks · Technology · Measuring & Controlling Devices, NEC

Thermo Fisher Scientific

TMO Clue Score39
United States Fiscal year ends December CIK 0000097745
$658.02 +0.93% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $658.02 +13.71% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue18.27Operating income2.46EPS, diluted5.09Fiscal year 2017Revenue20.92 +14.5%Operating income2.96EPS, diluted5.59 +9.8%Fiscal year 2018Revenue24.36 +16.4%Operating income3.78EPS, diluted7.24 +29.5%Fiscal year 2019Revenue25.54 +4.9%Operating income4.59Net income3.70EPS, diluted9.17 +26.7%Fiscal year 2020Revenue32.22 +26.1%Operating income7.79Net income6.38 +72.4%EPS, diluted15.96 +74.0%Fiscal year 2021Revenue39.21 +21.7%Operating income10.03EPS, diluted19.46 +21.9%Fiscal year 2022Revenue44.92 +14.5%Operating income8.39EPS, diluted17.63 −9.4%Fiscal year 2023Revenue42.86 −4.6%Operating income6.86Net income6.00EPS, diluted15.45 −12.4%Fiscal year 2024Revenue42.88 +0.1%Operating income7.34Net income6.34 +5.7%EPS, diluted16.53 +7.0%Fiscal year 2025Revenue44.56 +3.9%Operating income7.75Net income6.70 +5.8%EPS, diluted17.74 +7.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 18.27 20.92 24.36 25.54 32.22 39.21 44.92 42.86 42.88 44.56
Growth +14.5% +16.4% +4.9% +26.1% +21.7% +14.5% −4.6% +0.1% +3.9%
Operating income 2.46 2.96 3.78 4.59 7.79 10.03 8.39 6.86 7.34 7.75
Net income n/a n/a n/a 3.70 6.38 n/a n/a 6.00 6.34 6.70
Growth +72.4% +5.7% +5.8%
EPS, diluted 5.09 5.59 7.24 9.17 15.96 19.46 17.63 15.45 16.53 17.74
Growth +9.8% +29.5% +26.7% +74.0% +21.9% −9.4% −12.4% +7.0% +7.3%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin13.5%Free cash flow margin15.4%Fiscal year 2017Operating margin14.2%Free cash flow margin16.7%Fiscal year 2018Operating margin15.5%Free cash flow margin15.5%Fiscal year 2019Operating margin18.0%Net margin14.5%Free cash flow margin15.8%Fiscal year 2020Operating margin24.2%Net margin19.8%Free cash flow margin21.2%Fiscal year 2021Operating margin25.6%Free cash flow margin17.3%Fiscal year 2022Operating margin18.7%Free cash flow margin15.4%Fiscal year 2023Operating margin16.0%Net margin14.0%Free cash flow margin16.2%Fiscal year 2024Operating margin17.1%Net margin14.8%Free cash flow margin16.9%Fiscal year 2025Operating margin17.4%Net margin15.0%Free cash flow margin14.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 13.5% 14.2% 15.5% 18.0% 24.2% 25.6% 18.7% 16.0% 17.1% 17.4%
Net margin n/a n/a n/a 14.5% 19.8% n/a n/a 14.0% 14.8% 15.0%
Free cash flow margin 15.4% 16.7% 15.5% 15.8% 21.2% 17.3% 15.4% 16.2% 16.9% 14.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow3.26Capital expenditure−0.44Free cash flow2.81Buybacks−1.25Dividends paid−0.24Fiscal year 2017Operating cash flow4.01Capital expenditure−0.51Free cash flow3.50 +24.3%Buybacks−0.75Dividends paid−0.24Fiscal year 2018Operating cash flow4.54Capital expenditure−0.76Free cash flow3.79 +8.2%Buybacks−0.50Dividends paid−0.27Fiscal year 2019Operating cash flow4.97Capital expenditure−0.93Free cash flow4.05 +6.9%Buybacks−1.50Dividends paid−0.30Fiscal year 2020Operating cash flow8.29Capital expenditure−1.47Free cash flow6.82 +68.4%Buybacks−1.50Dividends paid−0.34Fiscal year 2021Operating cash flow9.31Capital expenditure−2.52Free cash flow6.79 −0.4%Buybacks−2.00Dividends paid−0.40Fiscal year 2022Operating cash flow9.15Capital expenditure−2.24Free cash flow6.91 +1.8%Buybacks−3.00Dividends paid−0.46Fiscal year 2023Operating cash flow8.41Capital expenditure−1.48Free cash flow6.93 +0.2%Buybacks−3.00Dividends paid−0.52Fiscal year 2024Operating cash flow8.67Capital expenditure−1.40Free cash flow7.27 +4.9%Buybacks−4.00Dividends paid−0.58Fiscal year 2025Operating cash flow7.82Capital expenditure−1.53Free cash flow6.29 −13.4%Buybacks−3.00Dividends paid−0.64
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 3.26 4.01 4.54 4.97 8.29 9.31 9.15 8.41 8.67 7.82
Capital expenditure −0.44 −0.51 −0.76 −0.93 −1.47 −2.52 −2.24 −1.48 −1.40 −1.53
Free cash flow 2.81 3.50 3.79 4.05 6.82 6.79 6.91 6.93 7.27 6.29
Growth +24.3% +8.2% +6.9% +68.4% −0.4% +1.8% +0.2% +4.9% −13.4%
Buybacks −1.25 −0.75 −0.50 −1.50 −1.50 −2.00 −3.00 −3.00 −4.00 −3.00
Dividends paid −0.24 −0.24 −0.27 −0.30 −0.34 −0.40 −0.46 −0.52 −0.58 −0.64

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.79Shareholders’ equity21.54Fiscal year 2017Cash1.34Shareholders’ equity25.41Fiscal year 2018Cash2.10Total debt17.72Net cash (debt)−15.62Shareholders’ equity27.59Debt to equity0.64Fiscal year 2019Cash2.40Total debt17.08Net cash (debt)−14.68Shareholders’ equity29.68Debt to equity0.58Fiscal year 2020Cash10.33Total debt19.11Net cash (debt)−8.78Shareholders’ equity34.51Debt to equity0.55Fiscal year 2021Cash4.48Total debt34.67Net cash (debt)−30.19Shareholders’ equity40.79Debt to equity0.85Fiscal year 2022Cash8.52Total debt34.28Net cash (debt)−25.75Shareholders’ equity43.98Debt to equity0.78Fiscal year 2023Cash8.08Total debt34.73Net cash (debt)−26.65Shareholders’ equity46.74Debt to equity0.74Fiscal year 2024Cash4.01Total debt31.07Net cash (debt)−27.06Shareholders’ equity49.58Debt to equity0.63Fiscal year 2025Cash9.85Total debt39.17Net cash (debt)−29.32Shareholders’ equity53.41Debt to equity0.73
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.79 1.34 2.10 2.40 10.33 4.48 8.52 8.08 4.01 9.85
Total debt n/a n/a 17.72 17.08 19.11 34.67 34.28 34.73 31.07 39.17
Net cash (debt) n/a n/a −15.62 −14.68 −8.78 −30.19 −25.75 −26.65 −27.06 −29.32
Shareholders’ equity 21.54 25.41 27.59 29.68 34.51 40.79 43.98 46.74 49.58 53.41
Debt to equity n/a n/a 0.64 0.58 0.55 0.85 0.78 0.74 0.63 0.73

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Balance sheet

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Assets
0.79 1.34 2.10 2.40 10.33 4.48 8.52 8.08 4.01 9.85
3.05 3.88 4.14 4.35 5.74 7.98 8.12 8.22 8.19 8.90
2.21 2.97 3.01 3.37 4.03 5.05 5.63 5.09 4.98 5.43
2.58 4.05 4.17 4.75 5.91 8.33 9.28 9.45 9.31 10.57
21.33 25.29 25.35 25.71 26.04 41.92 41.20 44.02 45.85 49.36
45.91 56.67 56.23 58.38 69.05 95.12 97.15 98.73 97.32 110.34
Growth +23.4% −0.8% +3.8% +18.3% +37.8% +2.1% +1.6% −1.4% +13.4%
Liabilities
n/a n/a 17.72 17.08 19.11 34.67 34.28 34.73 31.07 39.17
calc n/a n/a 17.72 17.08 19.11 34.67 34.28 34.73 31.07 39.17
Equity
13.93 15.91 18.70 22.09 28.12 35.43 41.91 47.36 53.10 59.16
21.54 25.41 27.59 29.68 34.51 40.79 43.98 46.74 49.58 53.41
Growth +18.0% +8.6% +7.6% +16.3% +18.2% +7.8% +6.3% +6.1% +7.7%
Per share and net cash
calc n/a n/a −15.62 −14.68 −8.78 −30.19 −25.75 −26.65 −27.06 −29.32
390.4 401.8 399.0 398.8 393.8 391.2 385.4 381.3 377.3 371.5
calc 55.18 63.25 69.14 74.41 87.63 104.28 114.10 122.56 131.43 143.77

Lines marked calc are worked out here from filed figures; point at one for how.