TMO

Updated: Jun 24, 2026 12:45 AM

Thermo Fisher Scientific Inc

Market Cap: $172.44B P/S: 16x Ownership — Insider: 0.2% | Institutional: 94.2% | Retail: 5.6% HEALTHCARE DIAGNOSTICS & RESEARCH

Thermo Fisher Scientific is an American provisioner of scientific instrumentation, reagents and consumables, and software and services to healthcare, life science, and other laboratories in academia, government, and industry (including in the biotechnology and pharmaceutical sectors). Based in Waltham, Massachusetts, Thermo Fisher was created in 2006 by the merger of Thermo Electron and Fisher Scientific, to form a company with US$ 9 billion in combined revenues.

Revenue

Revenue, Profit & Income — explained by Jerry the Goat Farmer
Total RevenueEvery single dollar that wanders onto Jerry's farm. Cheese sales, milk money, goat yoga memberships, and that one weird guy who pays $50 to just watch the goats. Jerry doesn't ask questions.
Gross ProfitThe money left after feeding the goats but before reality sets in. Jerry feels rich for exactly 11 minutes.
Net IncomeWhat Jerry actually gets to keep after the Jerrynment, cousin Larry, the feed store, and his ex-wife's lawyer all take their cut. This number is often... humbling.
Using alias: revenuea -> totalRevenue [annual] [income]
Using alias: profita -> grossProfit [annual] [income]
Using alias: incomea -> netIncome [annual] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        20/20 dates (100%)
  ✅ grossProfit                         20/20 dates (100%)
  ✅ netIncome                           20/20 dates (100%)

Plot for TMO (in B)
  reports: annualReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               0.00B           11.23B           22.46B           33.69B            44.91B
               |                |                |                |                 |

  2006-12-31 |  3.79B
  2007-12-31 |  9.75B
  2008-12-31 |  10.50B
  2009-12-31 |  10.11B
  2010-12-31 |  10.79B
  2011-12-31 |  11.73B
  2012-12-31 |  12.51B
  2013-12-31 |  13.09B
  2014-12-31 |  16.89B
  2015-12-31 |  16.97B
  2016-12-31 |  18.27B
  2017-12-31 |  20.92B
  2018-12-31 |  24.36B
  2019-12-31 |  25.54B
  2020-12-31 |  32.22B
  2021-12-31 |  39.21B
  2022-12-31 |  44.91B
  2023-12-31 |  42.86B
  2024-12-31 |  42.88B
  2025-12-31 |  44.56B

               |                |                |                |                 |
               0.00B           11.23B           22.46B           33.69B            44.91B

Costs

Operating Costs — explained by Jerry the Goat Farmer
Cost of Goods & Services SoldThe unglamorous stuff: hay, feed, vet bills for when Sergio the goat eats another iPhone. These goats don't feed themselves, and they definitely don't apologize.
Selling, General & AdministrativeThe "CHEESE HAPPENS" billboard on the highway, the accountant (cousin Larry, who definitely cheated in Monopoly as a kid), office supplies, and the therapy Jerry needs after dealing with cousin Larry.
Research & DevelopmentJerry's experimental ghost pepper goat cheese that made three customers cry. Also the goat treadmill. The goats refuse to use the goat treadmill.
Using alias: rnda -> researchAndDevelopment [annual] [income]
Using alias: sgaa -> sellingGeneralAndAdministrative [annual] [income]
Using alias: cogsa -> costofGoodsAndServicesSold [annual] [income]


Data Completeness:
------------------------------------------------------------
  ✅ researchAndDevelopment              20/20 dates (100%)
  ✅ sellingGeneralAndAdministrative     20/20 dates (100%)
  ✅ costofGoodsAndServicesSold          20/20 dates (100%)

Plot for TMO (in B)
  reports: annualReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00B            6.94B           13.89B           20.83B            27.78B
               |                |                |                |                 |

  2006-12-31 |  2.10B
  2007-12-31 |  5.85B
  2008-12-31 |  6.26B
  2009-12-31 |  6.04B
  2010-12-31 |  6.12B
  2011-12-31 |  6.69B
  2012-12-31 |  7.10B
  2013-12-31 |  7.46B
  2014-12-31 |  9.00B
  2015-12-31 |  9.13B
  2016-12-31 |  9.69B
  2017-12-31 |  11.24B
  2018-12-31 |  13.37B
  2019-12-31 |  14.20B
  2020-12-31 |  16.19B
  2021-12-31 |  19.58B
  2022-12-31 |  25.90B
  2023-12-31 |  25.30B
  2024-12-31 |  25.15B
  2025-12-31 |  27.78B

               |                |                |                |                 |
               0.00B            6.94B           13.89B           20.83B            27.78B

Cash

Cash, Debt & Cash Flow — explained by Jerry the Goat Farmer
Cash & Short-Term InvestmentsThe coffee can buried behind the barn, $47 in a savings account, and some cryptocurrency Jerry bought drunk in 2021. He's afraid to check on it.
Short/Long-Term DebtThe barn loan that'll follow Jerry to the grave (long-term) and the $200 he owes the feed store guy who's starting to give him looks (short-term).
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Using alias: casha -> cashAndShortTermInvestments [annual] [balance]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: paychecka -> operatingCashflow [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ cashAndShortTermInvestments         20/20 dates (100%)
  ✅ shortLongTermDebtTotal              20/20 dates (100%)
  ✅ operatingCashflow                   20/20 dates (100%)

Plot for TMO (in B)
  reports: annualReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               0.00B           10.21B           20.43B           30.64B            40.85B
               |                |                |                |                 |

  2006-12-31 |  2.66B
  2007-12-31 |  2.20B
  2008-12-31 |  2.06B
  2009-12-31 |  2.18B
  2010-12-31 |  2.14B
  2011-12-31 |  7.03B
  2012-12-31 |  7.12B
  2013-12-31 |  10.49B
  2014-12-31 |  14.56B
  2015-12-31 |  12.47B
  2016-12-31 |  16.63B
  2017-12-31 |  21.01B
  2018-12-31 |  18.99B
  2019-12-31 |  18.49B
  2020-12-31 |  22.55B
  2021-12-31 |  36.34B
  2022-12-31 |  36.07B
  2023-12-31 |  36.42B
  2024-12-31 |  32.77B
  2025-12-31 |  40.85B

               |                |                |                |                 |
               0.00B           10.21B           20.43B           30.64B            40.85B

FCF

Free Cash Flow — explained by Jerry the Goat Farmer
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Capital ExpendituresBig, expensive purchases Jerry justifies at 2am: the industrial milking machine, new fencing, and a hot tub "for the goats" that somehow only Jerry uses.
Using alias: paychecka -> operatingCashflow [annual] [cashflow]
Using alias: capexa -> capitalExpenditures [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   20/20 dates (100%)
  ✅ capitalExpenditures                 20/20 dates (100%)

Plot for TMO (in B)
  reports: annualReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               0.00B            2.39B            4.77B            7.16B             9.54B
               |                |                |                |                 |

  2006-12-31 |  0.41B
  2007-12-31 |  1.48B
  2008-12-31 |  1.42B
  2009-12-31 |  1.66B
  2010-12-31 |  1.50B
  2011-12-31 |  1.69B
  2012-12-31 |  2.04B
  2013-12-31 |  2.01B
  2014-12-31 |  2.62B
  2015-12-31 |  2.82B
  2016-12-31 |  3.16B
  2017-12-31 |  4.00B
  2018-12-31 |  4.54B
  2019-12-31 |  4.97B
  2020-12-31 |  8.29B
  2021-12-31 |  9.54B
  2022-12-31 |  9.15B
  2023-12-31 |  8.41B
  2024-12-31 |  8.67B
  2025-12-31 |  7.82B

               |                |                |                |                 |
               0.00B            2.39B            4.77B            7.16B             9.54B

Assets

Assets, Liabilities & Equity — explained by Jerry the Goat Farmer
🐐 Assets = Liabilities + Equity

Translation: What Jerry owns = What Jerry owes + What's actually Jerry's

Or as Jerry mutters every April during tax season:
"Everything I have equals everything I owe plus whatever scraps are left for me, a humble goat man just trying to make cheese in this cruel world."
Total AssetsEverything Jerry owns: 12 acres of land, a barn that's "rustic" (rotting), 47 goats, Sergio (appraised at $800, priceless to Jerry), the cheese cave, and a 2004 Ford F-150 held together by duct tape and prayer.
Total LiabilitiesEverything Jerry owes: bank loans, the feed store tab, back taxes, and a moral debt to his neighbor for "borrowing" that tractor in 2019. They both know he's not returning it.
Total Shareholder EquityIf Jerry sold absolutely everything, paid off every debt, and finally returned that tractor... this is what he'd have left. His actual net worth. Some days it's a retirement fund. Other days it's "enough for a bus ticket and a fresh start."
Using alias: assetsa -> totalAssets [annual] [balance]
Using alias: liabila -> totalLiabilities [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ totalAssets                         20/20 dates (100%)
  ✅ totalLiabilities                    20/20 dates (100%)
  ✅ totalShareholderEquity              20/20 dates (100%)

Plot for TMO (in B)
  reports: annualReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               0.00B           27.59B           55.17B           82.76B            110.34B
               |                |                |                |                 |

  2006-12-31 |  21.26B
  2007-12-31 |  21.21B
  2008-12-31 |  21.09B
  2009-12-31 |  21.60B
  2010-12-31 |  21.39B
  2011-12-31 |  26.83B
  2012-12-31 |  27.44B
  2013-12-31 |  31.86B
  2014-12-31 |  42.85B
  2015-12-31 |  40.83B
  2016-12-31 |  45.91B
  2017-12-31 |  56.67B
  2018-12-31 |  56.23B
  2019-12-31 |  58.38B
  2020-12-31 |  69.05B
  2021-12-31 |  95.12B
  2022-12-31 |  97.15B
  2023-12-31 |  98.73B
  2024-12-31 |  97.32B
  2025-12-31 |  110.34B

               |                |                |                |                 |
               0.00B           27.59B           55.17B           82.76B            110.34B

Buffet

Using alias: incomea -> netIncome [annual] [income]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           20/20 dates (100%)
  ✅ shortLongTermDebtTotal              20/20 dates (100%)
  ✅ totalShareholderEquity              20/20 dates (100%)

Plot for TMO (in B)
  reports: annualReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               0.00B           13.35B           26.70B           40.06B            53.41B
               |                |                |                |                 |

  2006-12-31 |  13.91B
  2007-12-31 |  14.49B
  2008-12-31 |  14.93B
  2009-12-31 |  15.43B
  2010-12-31 |  15.36B
  2011-12-31 |  15.04B
  2012-12-31 |  15.46B
  2013-12-31 |  16.86B
  2014-12-31 |  20.55B
  2015-12-31 |  21.35B
  2016-12-31 |  21.54B
  2017-12-31 |  25.41B
  2018-12-31 |  27.59B
  2019-12-31 |  29.68B
  2020-12-31 |  34.51B
  2021-12-31 |  40.79B
  2022-12-31 |  43.98B
  2023-12-31 |  46.73B
  2024-12-31 |  49.58B
  2025-12-31 |  53.41B

               |                |                |                |                 |
               0.00B           13.35B           26.70B           40.06B            53.41B

Revenue-q

Using alias: revenue -> totalRevenue [quarterly] [income]
Using alias: profit -> grossProfit [quarterly] [income]
Using alias: income -> netIncome [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        25/25 dates (100%)
  ✅ grossProfit                         25/25 dates (100%)
  ✅ netIncome                           25/25 dates (100%)

Plot for TMO (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               0.00B            3.05B            6.11B            9.16B            12.21B
               |                |                |                |                 |

  2020-03-31 |  6.23B
  2020-06-30 |  6.92B
  2020-09-30 |  8.52B
  2020-12-31 |  10.55B
  2021-03-31 |  9.91B
  2021-06-30 |  9.27B
  2021-09-30 |  9.33B
  2021-12-31 |  10.70B
  2022-03-31 |  11.82B
  2022-06-30 |  10.97B
  2022-09-30 |  10.68B
  2022-12-31 |  11.45B
  2023-03-31 |  10.71B
  2023-06-30 |  10.69B
  2023-09-30 |  10.57B
  2023-12-31 |  10.89B
  2024-03-31 |  10.35B
  2024-06-30 |  10.54B
  2024-09-30 |  10.60B
  2024-12-31 |  11.39B
  2025-03-31 |  10.36B
  2025-06-30 |  10.86B
  2025-09-30 |  11.12B
  2025-12-31 |  12.21B
  2026-03-31 |  11.01B

               |                |                |                |                 |
               0.00B            3.05B            6.11B            9.16B            12.21B

Costs-q

Using alias: rnd -> researchAndDevelopment [quarterly] [income]
Using alias: sga -> sellingGeneralAndAdministrative [quarterly] [income]
Using alias: cogs -> costofGoodsAndServicesSold [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ✅ researchAndDevelopment              25/25 dates (100%)
  ✅ sellingGeneralAndAdministrative     25/25 dates (100%)
  ✅ costofGoodsAndServicesSold          25/25 dates (100%)

Plot for TMO (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00B            1.89B            3.79B            5.68B             7.58B
               |                |                |                |                 |

  2020-03-31 |  3.49B
  2020-06-30 |  3.54B
  2020-09-30 |  4.19B
  2020-12-31 |  5.26B
  2021-03-31 |  4.70B
  2021-06-30 |  4.74B
  2021-09-30 |  4.69B
  2021-12-31 |  5.77B
  2022-03-31 |  6.33B
  2022-06-30 |  6.38B
  2022-09-30 |  6.36B
  2022-12-31 |  7.29B
  2023-03-31 |  6.53B
  2023-06-30 |  6.42B
  2023-09-30 |  6.24B
  2023-12-31 |  6.93B
  2024-03-31 |  6.13B
  2024-06-30 |  6.20B
  2024-09-30 |  6.25B
  2024-12-31 |  6.93B
  2025-03-31 |  6.12B
  2025-06-30 |  6.81B
  2025-09-30 |  6.47B
  2025-12-31 |  7.58B
  2026-03-31 |  6.53B

               |                |                |                |                 |
               0.00B            1.89B            3.79B            5.68B             7.58B

Cash-q

Using alias: cash -> cashAndShortTermInvestments [quarterly] [balance]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ cashAndShortTermInvestments         25/25 dates (100%)
  ✅ shortLongTermDebtTotal              25/25 dates (100%)
  ✅ operatingCashflow                   25/25 dates (100%)

Plot for TMO (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               0.00B           10.79B           21.58B           32.37B            43.16B
               |                |                |                |                 |

  2020-03-31 |  19.97B
  2020-06-30 |  21.31B
  2020-09-30 |  21.09B
  2020-12-31 |  22.55B
  2021-03-31 |  18.64B
  2021-06-30 |  18.78B
  2021-09-30 |  21.71B
  2021-12-31 |  35.14B
  2022-03-31 |  33.26B
  2022-06-30 |  30.26B
  2022-09-30 |  29.16B
  2022-12-31 |  36.07B
  2023-03-31 |  35.26B
  2023-06-30 |  34.01B
  2023-09-30 |  35.28B
  2023-12-31 |  36.42B
  2024-03-31 |  35.61B
  2024-06-30 |  35.41B
  2024-09-30 |  35.31B
  2024-12-31 |  32.77B
  2025-03-31 |  34.19B
  2025-06-30 |  35.23B
  2025-09-30 |  35.68B
  2025-12-31 |  40.85B
  2026-03-31 |  43.16B

               |                |                |                |                 |
               0.00B           10.79B           21.58B           32.37B            43.16B

FCF-q

Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]
Using alias: capex -> capitalExpenditures [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   25/25 dates (100%)
  ✅ capitalExpenditures                 25/25 dates (100%)

Plot for TMO (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               0.00B            0.93B            1.86B            2.79B             3.72B
               |                |                |                |                 |

  2020-03-31 |  0.36B
  2020-06-30 |  1.89B
  2020-09-30 |  2.71B
  2020-12-31 |  3.34B
  2021-03-31 |  1.98B
  2021-06-30 |  2.23B
  2021-09-30 |  2.65B
  2021-12-31 |  2.69B
  2022-03-31 |  2.20B
  2022-06-30 |  1.53B
  2022-09-30 |  1.94B
  2022-12-31 |  3.49B
  2023-03-31 |  0.73B
  2023-06-30 |  1.54B
  2023-09-30 |  2.41B
  2023-12-31 |  3.72B
  2024-03-31 |  1.25B
  2024-06-30 |  1.96B
  2024-09-30 |  2.17B
  2024-12-31 |  3.29B
  2025-03-31 |  0.72B
  2025-06-30 |  1.40B
  2025-09-30 |  2.24B
  2025-12-31 |  3.46B
  2026-03-31 |  1.19B

               |                |                |                |                 |
               0.00B            0.93B            1.86B            2.79B             3.72B

Assets-q

Using alias: assets -> totalAssets [quarterly] [balance]
Using alias: liabil -> totalLiabilities [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ totalAssets                         25/25 dates (100%)
  ✅ totalLiabilities                    25/25 dates (100%)
  ✅ totalShareholderEquity              25/25 dates (100%)

Plot for TMO (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               0.00B           28.32B           56.64B           84.96B            113.28B
               |                |                |                |                 |

  2020-03-31 |  58.69B
  2020-06-30 |  61.59B
  2020-09-30 |  64.06B
  2020-12-31 |  69.05B
  2021-03-31 |  65.93B
  2021-06-30 |  67.70B
  2021-09-30 |  73.60B
  2021-12-31 |  95.12B
  2022-03-31 |  92.75B
  2022-06-30 |  90.58B
  2022-09-30 |  90.54B
  2022-12-31 |  97.15B
  2023-03-31 |  94.66B
  2023-06-30 |  94.11B
  2023-09-30 |  97.06B
  2023-12-31 |  98.73B
  2024-03-31 |  97.09B
  2024-06-30 |  98.50B
  2024-09-30 |  100.36B
  2024-12-31 |  97.32B
  2025-03-31 |  99.04B
  2025-06-30 |  101.23B
  2025-09-30 |  103.02B
  2025-12-31 |  110.34B
  2026-03-31 |  113.28B

               |                |                |                |                 |
               0.00B           28.32B           56.64B           84.96B            113.28B

Buffet-q

Using alias: income -> netIncome [quarterly] [income]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           25/25 dates (100%)
  ✅ shortLongTermDebtTotal              25/25 dates (100%)
  ✅ totalShareholderEquity              25/25 dates (100%)

Plot for TMO (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               0.00B           13.35B           26.70B           40.06B            53.41B
               |                |                |                |                 |

  2020-03-31 |  28.56B
  2020-06-30 |  29.88B
  2020-09-30 |  31.82B
  2020-12-31 |  34.51B
  2021-03-31 |  35.06B
  2021-06-30 |  36.85B
  2021-09-30 |  38.71B
  2021-12-31 |  40.79B
  2022-03-31 |  40.96B
  2022-06-30 |  42.29B
  2022-09-30 |  43.55B
  2022-12-31 |  43.98B
  2023-03-31 |  42.26B
  2023-06-30 |  43.75B
  2023-09-30 |  45.33B
  2023-12-31 |  46.73B
  2024-03-31 |  45.52B
  2024-06-30 |  47.43B
  2024-09-30 |  48.99B
  2024-12-31 |  49.58B
  2025-03-31 |  49.39B
  2025-06-30 |  50.51B
  2025-09-30 |  51.02B
  2025-12-31 |  53.41B
  2026-03-31 |  51.94B

               |                |                |                |                 |
               0.00B           13.35B           26.70B           40.06B            53.41B

Price History

Volume

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