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 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 2,125 | 1,192 | 3,457 | 2,239 | 1,399 | 723 | 3,290 | 2,166 | 1,960 | 1,251 | 3,723 | 2,414 |
| Depreciation and amortization | 819 | 734 | 728 | 671 | 686 | 705 | 742 | 750 | 780 | 836 | 839 | 853 |
| Capital expenditure | -450 | -376 | -465 | -404 | -294 | -362 | -480 | -272 | -301 | -347 | -405 | -332 |
| Investing cash flow | 164 | -8,961 | 891 | -4,123 | -288 | -527 | 20.0 | -3,578 | -253 | -2,030 | -376 | -1,181 |
| Financing cash flow | -1,571 | 1,093 | 3,526 | -632 | -991 | -102 | -3,666 | -1,190 | -115 | -1,821 | -1,428 | 1,855 |
| Dividends paid | -175 | -162 | -162 | -163 | -162 | -149 | -149 | -150 | -149 | -135 | -136 | -135 |
| Share repurchases | -1,000 | -3,000 | -37.0 | -963 | 0.0 | -2,000 | -1,000 | 0.0 | 0.0 | -3,000 | — | — |
| Debt issued | 0.0 | 5,627 | 4,919 | 1,095 | 0.0 | 2,840 | 0.0 | 0.0 | -1.0 | 1,205 | 2,476 | 3,466 |
| Debt repaid | -389 | -1,412 | -1,285 | -597 | -787 | -838 | -2,500 | -1,107 | — | — | -3,782 | -1,494 |
| Effect of exchange rates | 98.0 | 78.0 | -6.0 | -75.0 | 311 | 37.0 | -273 | 175 | -15.0 | 22.0 | 10.0 | -73.0 |
| Net change in cash | 816 | -6,599 | 7,868 | -2,592 | 431 | 132 | -630 | -2,427 | 1,578 | -2,578 | 1,929 | 3,015 |
| Free cash flow | 1,675 | 816 | 2,992 | 1,835 | 1,105 | 361 | 2,810 | 1,894 | 1,659 | 904 | 3,318 | 2,082 |
| Levered free cash flow | 1,453 | 1,142 | 2,198 | 1,466 | 742 | 12.6 | 2,500 | 1,868 | 1,305 | 875 | 2,705 | 1,585 |