Thermo Fisher Scientific

TMO · NYSE · USD

$654.80+0.35%+$2.29

Close · October 2, 2026

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.

Income statement · Annual
Item	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Total revenue	44,556	42,879	42,857	44,915	39,211	32,218	25,542	24,358	20,918	18,274
Cost of revenue	26,254	25,130	25,757	25,944	19,573	16,214	14,214	13,489	11,382	9,825
Gross profit	18,302	17,749	17,100	18,971	19,638	16,004	11,328	10,869	9,536	8,449
Selling, general and administrative	8,527	8,602	8,440	8,940	7,857	6,940	6,139	6,022	5,428	4,883
Research and development	1,397	1,390	1,337	1,471	1,406	1,181	1,003	967	887	754
Operating income	8,358	7,727	7,322	8,560	10,372	7,867	4,186	3,880	3,221	2,805
EBIT	8,358	7,727	7,322	8,560	10,372	7,867	4,186	3,880	3,221	2,805
EBITDA	11,138	10,835	10,728	11,941	12,964	10,192	6,463	6,147	5,254	4,553
Interest expense	1,419	1,390	1,375	726	536	553	676	667	592	469
Pre-tax income	7,268	6,995	6,239	7,663	8,837	7,227	4,072	3,262	2,429	2,024
Income tax	547	657	284	703	1,109	850	374	324	201	-1.0
Net income	6,704	6,335	5,995	6,950	7,725	6,375	3,696	2,938	2,225	2,022
Net income to common shareholders	6,704	6,335	5,995	6,950	7,725	6,375	3,696	2,938	2,228	2,025
Basic EPS	17.78	16.58	15.53	17.73	19.61	16.10	9.24	7.31	5.64	5.13
Diluted EPS	17.74	16.53	15.45	17.63	19.46	15.96	9.17	7.24	5.60	5.10
Average shares (basic)	377	382	386	392	394	396	400	402	395	395
Average shares (diluted)	378	383	388	394	397	399	403	406	398	397
Dividend per share	1.72	1.56	1.40	1.20	1.04	0.88	0.76	0.68	0.60	0.60