Thermo Fisher Scientific revenue and financials

TMO · NYSE · USD

$656.58−2.98%−$20.18

Close · October 6, 2026

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%.

Annual revenue · 2025: $44.56B

$18.27B2016
$20.92B2017
$24.36B2018
$25.54B2019
$32.22B2020
$39.21B2021
$44.92B2022
$42.86B2023
$42.88B2024
$44.56B2025

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.

Balance sheet · Quarterly
Item	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023
Total assets	113,174	113,281	110,343	103,020	101,230	99,041	97,321	100,364	98,496	97,095	98,726	97,057
Current assets	23,365	22,316	28,707	22,295	24,584	23,378	22,137	23,783	25,476	23,640	24,589	23,092
Cash and equivalents	4,064	3,254	9,852	1,982	4,576	4,134	4,009	4,645	7,073	5,499	8,077	6,151
Short-term investments	—	2.0	253	1,564	1,814	1,813	1,561	2,000	1,750	1,751	3.0	—
Receivables	11,139	10,888	10,566	10,531	10,035	9,821	9,626	9,796	9,430	9,353	9,664	9,835
Inventory	5,627	5,496	5,425	5,745	5,559	5,224	4,978	5,430	5,198	5,133	5,088	5,404
Net property, plant and equipment	10,755	10,658	12,012	10,177	9,635	9,331	10,795	9,412	9,282	9,324	11,004	9,167
Goodwill	54,832	55,187	49,362	49,287	47,249	46,493	45,853	46,726	43,843	43,843	44,020	43,583
Other intangible assets	18,606	19,146	15,838	16,242	15,148	15,323	15,533	16,262	15,519	16,048	16,670	17,091
Long-term investments	—	—	438	—	174	352	438	91.0	478	219	534	87.0
Current liabilities	15,069	14,621	15,189	14,888	12,718	13,174	13,332	14,601	14,772	13,937	14,012	14,158
Accounts payable	3,268	3,344	3,622	3,120	2,980	3,049	3,079	2,606	2,547	2,555	2,872	2,508
Long-term debt	38,917	39,858	35,648	31,661	32,819	31,240	28,859	31,197	30,099	30,998	31,405	30,441
Total debt	42,549	43,161	40,855	35,180	35,229	34,259	30,561	35,513	35,427	35,664	—	—
Total liabilities	60,367	61,219	56,807	51,866	50,627	49,556	47,650	51,265	50,961	51,472	51,884	51,593
Total equity (incl. minority)	52,807	52,062	53,536	51,154	50,603	49,485	49,671	49,099	47,535	45,623	46,842	45,464
Retained earnings	62,194	60,632	59,156	57,354	55,901	54,447	53,102	51,421	49,940	48,542	47,364	45,869
Minority interest	128	128	129	136	91.0	95.0	87.0	107	103	107	107	136