Thermo Fisher Scientific revenue and financials
$656.58Change from previous close: −2.98%Absolute change: −$20.18
In the fiscal year ended December 2025, Thermo Fisher Scientific reported revenue of $44.56B (+3.91% year over year). Net income was $6.7B, a net margin of 15.0%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +3.91%
- 2025 vs 2024
- Net income growth
- +5.82%
- 2025 vs 2024
- Net margin
- 15.0%
- 2024: 14.8%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 7,818 | 8,667 | 8,406 | 9,154 | 9,312 | 8,289 | 4,973 | 4,543 | 4,005 | 3,258 |
| Depreciation and amortization | 1,050 | 1,156 | 1,068 | 986 | 831 | 658 | 564 | 2,267 | 2,033 | 1,758 |
| Capital expenditure | -1,525 | -1,400 | -1,479 | -2,243 | -2,523 | -1,474 | -926 | -758 | -508 | -444 |
| Investing cash flow | -4,047 | -5,841 | -5,142 | -2,159 | -21,932 | -1,510 | -1,487 | -1,253 | -7,729 | -5,520 |
| Financing cash flow | 1,801 | -6,792 | -3,622 | -2,810 | 6,581 | 959 | -3,118 | -2,237 | 3,854 | 2,759 |
| Dividends paid | -636 | -583 | -523 | -455 | -395 | -337 | -297 | -266 | -237 | -238 |
| Share repurchases | -3,000 | -4,000 | -3,000 | -3,000 | -2,000 | -1,500 | -1,500 | -500 | -750 | -1,250 |
| Debt issued | 8,854 | 1,204 | 7,562 | 4,719 | 20,649 | 3,847 | 8,419 | 5,750 | 14,839 | 16,786 |
| Debt repaid | -3,507 | -3,607 | -7,717 | -4,065 | -11,738 | -1,097 | -9,819 | -7,306 | -11,813 | -12,612 |
| Effect of exchange rates | 267 | -91.0 | -82.0 | -139 | 194 | 176 | -63.0 | -297 | 420 | -152 |
| Net change in cash | 5,839 | -4,057 | -440 | 4,046 | -5,845 | 7,914 | 305 | 756 | 550 | 345 |
| Free cash flow | 6,293 | 7,267 | 6,927 | 6,911 | 6,789 | — | — | — | — | — |
| Levered free cash flow | 4,391 | 6,629 | 5,099 | 5,798 | 5,584 | 5,618 | 3,232 | 3,225 | 2,778 | 2,468 |