Thermo Fisher Scientific (TMO) Financials

$424.02 -2.64 (-0.62%)

Closing price 03:59 PM Eastern

Extended Trading

$426.29 +2.27 (+0.54%)

As of 07:47 PM Eastern

Annual Income Statements for Thermo Fisher Scientific

This table shows Thermo Fisher Scientific's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	1,975	2,022	2,225	2,938	3,696	6,375	7,725	6,950	5,995	6,335
Consolidated Net Income / (Loss)	1,975	2,022	2,225	2,938	3,698	6,377	7,728	6,960	5,955	6,338
Net Income / (Loss) Continuing Operations	1,980	2,025	2,228	2,938	3,698	6,377	7,728	6,960	5,955	6,338
Total Pre-Tax Income	1,936	2,024	2,429	3,262	4,072	7,230	8,841	7,835	6,298	7,037
Total Operating Income	2,336	2,458	2,960	3,783	4,594	7,794	10,028	8,393	6,859	7,337
Total Gross Profit	7,756	8,372	9,448	10,857	11,328	16,004	19,638	18,971	17,100	17,702
Total Revenue	16,965	18,274	20,918	24,358	25,542	32,218	39,211	44,915	42,857	42,879
Operating Revenue	16,965	18,274	20,918	24,358	25,542	32,218	39,211	44,915	42,857	42,879
Total Cost of Revenue	9,209	9,902	11,470	13,501	14,214	16,214	19,573	25,944	25,757	25,177
Operating Cost of Revenue	9,209	9,902	11,470	13,501	14,214	16,214	19,573	25,944	25,757	25,177
Total Operating Expenses	5,420	5,914	6,488	7,074	6,734	8,210	9,610	10,578	10,241	10,364
Selling, General & Admin Expense	4,612	4,971	5,504	6,057	6,144	6,930	8,007	8,993	8,445	8,595
Research & Development Expense	692	754	887	967	1,003	1,181	1,406	1,471	1,337	1,390
Restructuring Charge	116	189	97	50	-413	99	197	114	459	379
Total Other Income / (Expense), net	-400	-434	-531	-521	-522	-564	-1,187	-558	-561	-300
Interest Expense	-	-	592	667	676	553	536	726	1,375	1,390
Interest & Investment Income	-	-	81	137	224	65	43	272	879	1,078
Other Income / (Expense), net	-400	-434	-20	9.00	-70	-76	-694	-104	-65	12
Income Tax Expense	-44	-1.00	201	324	374	850	1,109	703	284	657
Other Gains / (Losses), net	-	-	-	-	0.00	-3.00	-4.00	-172	-59	-42
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	2.00	2.00	3.00	10	-40	3.00
Basic Earnings per Share	$4.96	$5.12	$5.64	$7.31	$9.24	$16.09	$19.62	$17.75	$15.52	$16.58
Weighted Average Basic Shares Outstanding	399M	395M	395M	402M	400M	396M	394M	392M	386M	382M
Diluted Earnings per Share	$4.92	$5.09	$5.59	$7.24	$9.17	$15.96	$19.46	$17.63	$15.45	$16.53
Weighted Average Diluted Shares Outstanding	402M	397M	398M	406M	403M	399M	397M	394M	388M	383M
Weighted Average Basic & Diluted Shares Outstanding	398.30M	394.90M	394.50M	401.90M	398.83M	393.79M	391.19M	385.43M	381.31M	377.26M
Cash Dividends to Common per Share	$0.60	$0.60	$0.60	$0.68	$0.76	$0.88	$1.04	$1.20	$1.40	$1.56

This table shows Thermo Fisher Scientific's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	1,495	1,576	1,289	1,361	1,715	1,630	1,328	1,548	1,630	1,829
Consolidated Net Income / (Loss)	1,498	1,574	1,292	1,362	1,695	1,606	1,331	1,553	1,629	1,825
Net Income / (Loss) Continuing Operations	1,498	1,574	1,292	1,362	1,695	1,606	1,331	1,553	1,629	1,825
Total Pre-Tax Income	1,601	1,777	1,363	1,430	1,765	1,740	1,589	1,765	1,742	1,941
Total Operating Income	1,710	1,861	1,563	1,578	1,864	1,854	1,663	1,820	1,838	2,016
Total Gross Profit	4,302	4,606	4,140	4,251	4,316	4,393	4,205	4,347	4,328	4,822
Total Revenue	10,677	11,450	10,710	10,687	10,574	10,886	10,345	10,541	10,598	11,395
Operating Revenue	10,677	11,450	10,710	10,687	10,574	10,886	10,345	10,541	10,598	11,395
Total Cost of Revenue	6,375	6,844	6,570	6,436	6,258	6,493	6,140	6,194	6,270	6,573
Operating Cost of Revenue	6,375	6,844	6,570	6,436	6,258	6,493	6,140	6,194	6,270	6,573
Total Operating Expenses	2,592	2,745	2,577	2,673	2,452	2,539	2,543	2,527	2,489	2,805
Selling, General & Admin Expense	2,208	2,299	2,119	2,145	2,049	2,132	2,183	2,111	2,098	2,203
Research & Development Expense	351	391	346	345	319	327	331	339	346	374
Restructuring Charge	33	55	112	183	84	80	29	77	45	228
Total Other Income / (Expense), net	-109	-84	-200	-148	-99	-114	-74	-54	-95	-77
Interest Expense	173	269	300	326	359	390	363	354	356	317
Interest & Investment Income	68	150	146	178	246	309	279	295	277	227
Other Income / (Expense), net	-4.00	35	-46	0.00	14	-33	10	5.00	-16	13
Income Tax Expense	31	173	46	52	53	133	281	128	99	149
Other Gains / (Losses), net	-72	-30	-25	-16	-17	-1.00	23	-84	-14	33
Net Income / (Loss) Attributable to Noncontrolling Interest	3.00	-2.00	3.00	1.00	-20	-24	4.00	6.00	0.00	-7.00
Basic Earnings per Share	$3.82	$4.02	$3.34	$3.53	$4.44	$4.21	$3.47	$4.05	$4.26	$4.80
Weighted Average Basic Shares Outstanding	392M	392M	386M	386M	386M	386M	382M	382M	382M	382M
Diluted Earnings per Share	$3.79	$4.01	$3.32	$3.51	$4.42	$4.20	$3.46	$4.04	$4.25	$4.78
Weighted Average Diluted Shares Outstanding	395M	394M	388M	388M	388M	388M	384M	383M	384M	383M
Weighted Average Basic & Diluted Shares Outstanding	392.20M	385.43M	385.72M	385.95M	386.37M	381.31M	381.72M	382.00M	382.50M	377.26M

This table details how cash moves in and out of Thermo Fisher Scientific's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-898	345	130	1,053	305	7,914	-5,845	4,046	-440	-4,057
Net Cash From Operating Activities	2,942	3,258	4,005	4,543	4,973	8,289	9,312	9,154	8,406	8,667
Net Cash From Continuing Operating Activities	2,951	3,260	4,006	4,543	4,973	8,289	9,312	9,154	8,406	8,667
Net Income / (Loss) Continuing Operations	1,980	2,025	2,228	2,938	3,698	6,377	7,728	6,960	5,955	6,338
Consolidated Net Income / (Loss)	1,975	2,022	2,225	2,938	3,698	6,377	7,728	6,960	5,955	6,338
Depreciation Expense	1,688	1,758	439	526	564	658	831	986	1,068	1,156
Amortization Expense	-	-	1,594	1,741	1,713	1,667	1,761	2,395	2,338	1,952
Non-Cash Adjustments To Reconcile Net Income	155	232	149	194	-85	438	1,374	462	1,092	602
Changes in Operating Assets and Liabilities, net	-872	-755	-404	-856	-917	-851	-2,382	-1,649	-2,047	-1,381
Net Cash From Investing Activities	-1,093	-5,520	-7,729	-1,253	-1,487	-1,510	-21,932	-2,159	-5,142	-5,841
Net Cash From Continuing Investing Activities	-1,093	-5,520	-7,729	-1,253	-1,487	-1,510	-21,932	-2,159	-5,142	-5,841
Purchase of Property, Plant & Equipment	-423	-444	-508	-758	-926	-1,474	-2,523	-2,243	-1,479	-1,400
Acquisitions	-695	-5,178	-7,226	-536	-1,843	-38	-19,395	-39	-3,660	-3,132
Purchase of Investments	-	-	-	-	-	-	-	-52	-208	-3,396
Sale of Property, Plant & Equipment	18	26	7.00	50	36	8.00	20	24	87	57
Sale and/or Maturity of Investments	12	-	-	-	-	-	-	116	15	1,770
Other Investing Activities, net	-5.00	76	-2.00	-9.00	118	-6.00	-34	35	103	260
Net Cash From Financing Activities	-2,617	2,759	3,854	-2,237	-3,118	959	6,581	-2,810	-3,622	-6,792
Net Cash From Continuing Financing Activities	-2,617	2,759	3,854	-2,237	-3,118	959	6,581	-2,810	-3,622	-6,791
Repayment of Debt	-11,680	-12,626	-11,816	-7,357	-9,893	-1,051	-11,673	-4,074	-7,661	-3,412
Repurchase of Common Equity	-500	-1,250	-750	-500	-1,500	-1,500	-2,000	-3,000	-3,000	-4,000
Payment of Dividends	-241	-238	-237	-266	-297	-337	-395	-455	-523	-583
Issuance of Debt	9,732	16,786	14,839	5,750	8,419	3,847	20,649	4,719	7,562	1,204
Effect of Exchange Rate Changes	-130	-152	-	-	-63	176	194	-139	-82	-91

This table details how cash moves in and out of Thermo Fisher Scientific's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	1,029	5,603	-5,037	-347	3,015	1,929	-2,578	1,578	-2,427	-630
Net Cash From Operating Activities	1,937	3,487	729	1,540	2,414	3,723	1,251	1,960	2,166	3,290
Net Cash From Continuing Operating Activities	1,937	3,487	729	1,540	2,414	3,723	1,250	1,963	2,163	3,291
Net Income / (Loss) Continuing Operations	1,498	1,574	1,292	1,362	1,695	1,606	1,331	1,554	1,629	1,824
Consolidated Net Income / (Loss)	1,498	1,574	1,292	1,362	1,695	1,606	1,331	1,554	1,629	1,824
Depreciation Expense	244	256	253	270	269	276	285	277	290	304
Amortization Expense	594	592	606	585	584	563	551	514	449	438
Non-Cash Adjustments To Reconcile Net Income	229	-239	257	223	178	434	123	188	165	126
Changes in Operating Assets and Liabilities, net	-628	1,304	-1,679	-900	-312	844	-1,040	-570	-370	599
Net Cash From Investing Activities	-545	-525	-3,142	-443	-1,181	-376	-2,030	-253	-3,578	20
Net Cash From Continuing Investing Activities	-545	-525	-3,142	-443	-1,181	-376	-2,030	-253	-3,577	19
Purchase of Property, Plant & Equipment	-547	-550	-458	-284	-332	-405	-347	-301	-272	-480
Purchase of Investments	-	-	-2.00	-186	-12	-8.00	-1,758	-20	-287	-1,331
Sale of Property, Plant & Equipment	4.00	6.00	6.00	4.00	66	11	4.00	16	20	17
Other Investing Activities, net	-3.00	-45	16	70	6.00	11	71	52	94	43
Net Cash From Financing Activities	-151	2,391	-2,593	-1,456	1,855	-1,428	-1,821	-115	-1,190	-3,666
Net Cash From Continuing Financing Activities	-151	2,391	-2,593	-1,456	1,855	-1,428	-1,820	-115	-1,190	-3,666
Repayment of Debt	-232	20	-503	-1,914	-1,476	-3,768	110	35	-1,040	-2,517
Repurchase of Common Equity	-	-1,000	-3,000	-	-	-	-3,000	-	-	-1,000
Payment of Dividends	-118	-117	-117	-135	-135	-136	-135	-149	-150	-149
Effect of Exchange Rate Changes	-212	250	-31	12	-73	10	22	-15	175	-273

This table presents Thermo Fisher Scientific's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	40,834	45,908	56,669	56,232	58,381	69,052	95,123	97,154	98,726	97,321
Total Current Assets	5,741	7,021	9,421	10,625	11,893	21,957	20,113	25,229	24,589	22,137
Cash & Equivalents	452	786	1,335	2,103	2,399	10,325	4,477	8,524	8,077	4,009
Short-Term Investments	-	-	-	-	-	-	-	-	3.00	1,561
Accounts Receivable	2,545	3,049	3,879	4,136	4,349	5,741	7,977	8,115	8,221	8,191
Inventories, net	1,992	2,213	2,971	3,005	3,370	4,029	5,051	5,634	5,088	4,978
Other Current Assets	534	595	1,236	1,381	1,775	1,862	2,608	2,956	3,200	3,399
Plant, Property, & Equipment, net	2,449	2,578	4,047	4,165	4,749	5,912	8,333	9,280	9,448	9,306
Total Noncurrent Assets	32,644	36,309	43,201	41,442	41,739	41,183	66,677	62,645	64,689	65,878
Goodwill	18,828	21,328	25,290	25,347	25,714	26,041	41,924	41,196	44,020	45,853
Intangible Assets	12,758	13,969	16,684	14,978	14,014	12,685	20,113	17,442	16,670	15,533
Other Noncurrent Operating Assets	1,058	1,012	1,227	1,117	2,011	2,457	4,640	4,007	3,999	4,492
Total Liabilities & Shareholders' Equity	40,834	45,908	56,669	56,232	58,381	69,052	95,123	97,154	98,726	97,321
Total Liabilities	19,484	24,368	31,256	28,646	28,706	34,535	54,146	53,006	51,884	47,650
Total Current Liabilities	4,146	4,866	7,048	6,147	6,197	10,304	13,436	17,010	14,012	13,332
Short-Term Debt	1,052	1,255	2,135	1,271	676	2,628	2,537	5,579	3,609	2,214
Accounts Payable	822	926	1,428	1,615	1,920	2,175	2,867	3,381	2,872	3,079
Current Deferred Revenue	318	486	719	-	-	-	2,655	2,601	2,689	2,852
Current Employee Benefit Liabilities	598	709	918	982	1,010	1,916	2,427	2,095	1,596	1,988
Other Current Liabilities	1,144	1,490	1,848	2,279	2,591	3,585	2,950	3,354	3,246	3,199
Total Noncurrent Liabilities	15,338	19,502	24,208	22,499	22,509	24,231	40,710	35,996	37,872	34,318
Long-Term Debt	11,420	15,372	18,873	17,719	17,076	19,107	32,333	28,909	31,308	29,061
Noncurrent Deferred & Payable Income Tax Liabilities	2,623	2,557	2,766	2,265	2,192	1,794	3,837	2,849	1,922	1,268
Other Noncurrent Operating Liabilities	1,295	1,573	2,569	2,515	3,241	3,330	4,540	4,238	4,642	3,989
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	-	-	122	116	118	120
Total Equity & Noncontrolling Interests	21,350	21,540	25,413	27,586	29,675	34,517	40,855	44,032	46,724	49,551
Total Preferred & Common Equity	21,350	21,540	25,413	27,586	29,675	34,507	40,793	43,978	46,735	49,584
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	21,350	21,540	25,413	27,586	29,675	34,507	40,793	43,978	46,735	49,585
Common Stock	12,213	12,555	14,605	15,053	15,498	16,016	16,613	17,184	17,728	18,406
Retained Earnings	12,142	13,927	15,914	18,696	22,092	28,116	35,431	41,910	47,364	53,102
Treasury Stock	-1,008	-2,306	-3,103	-3,665	-5,236	-6,818	-8,922	-12,017	-15,133	-19,226
Accumulated Other Comprehensive Income / (Loss)	-1,997	-2,636	-2,003	-2,498	-2,679	-2,807	-2,329	-3,099	-3,224	-2,697
Noncontrolling Interest	-	-	-	-	-	10	62	54	-11	-33

This table presents Thermo Fisher Scientific's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	90,536	97,154	94,658	94,105	97,057	98,726	97,095	98,496	100,364	97,321
Total Current Assets	19,299	25,229	20,209	19,995	23,092	24,589	23,640	25,476	23,783	22,137
Cash & Equivalents	2,919	8,524	3,482	3,133	6,151	8,077	5,499	7,073	4,645	4,009
Short-Term Investments	-	-	-	-	-	3.00	1,751	1,750	2,000	1,561
Accounts Receivable	7,671	8,115	7,922	8,019	8,370	8,221	7,931	7,943	8,255	8,191
Inventories, net	5,722	5,634	5,664	5,655	5,404	5,088	5,133	5,198	5,430	4,978
Other Current Assets	2,987	2,956	3,141	3,188	3,167	3,200	3,326	3,512	3,452	3,399
Plant, Property, & Equipment, net	8,628	9,280	9,354	9,292	9,167	9,448	9,324	9,282	9,412	9,306
Total Noncurrent Assets	62,609	62,645	65,095	64,818	64,798	64,689	64,132	63,739	67,168	65,878
Goodwill	40,488	41,196	43,140	43,273	43,583	44,020	43,843	43,843	46,726	45,853
Intangible Assets	17,813	17,442	17,972	17,437	17,091	16,670	16,048	15,519	16,262	15,533
Other Noncurrent Operating Assets	4,308	4,007	3,983	4,108	4,124	3,999	4,241	4,377	4,180	4,492
Total Liabilities & Shareholders' Equity	90,536	97,154	94,658	94,105	97,057	98,726	97,095	98,496	100,364	97,321
Total Liabilities	46,809	53,006	52,225	50,190	51,593	51,884	51,472	50,963	51,264	47,650
Total Current Liabilities	11,118	17,010	15,884	14,112	14,158	14,012	13,937	14,772	14,601	13,332
Short-Term Debt	1,010	5,579	6,122	4,814	4,795	3,609	4,451	5,121	4,116	2,214
Accounts Payable	2,471	3,381	2,798	2,423	2,508	2,872	2,555	2,547	2,606	3,079
Current Deferred Revenue	2,567	2,601	2,662	2,590	2,547	2,689	2,632	2,591	2,663	2,852
Current Employee Benefit Liabilities	1,864	2,095	1,307	1,310	1,460	1,596	1,314	1,495	1,823	1,988
Other Current Liabilities	3,206	3,354	2,995	2,975	2,848	3,246	2,985	3,019	3,393	3,199
Total Noncurrent Liabilities	35,691	35,996	36,341	36,078	37,435	37,872	37,535	36,191	36,663	34,318
Long-Term Debt	28,150	28,909	29,135	29,194	30,489	31,308	31,157	30,284	31,197	29,061
Noncurrent Deferred & Payable Income Tax Liabilities	3,140	2,849	2,976	2,842	2,620	1,922	1,811	1,516	1,123	1,268
Other Noncurrent Operating Liabilities	4,401	4,238	4,230	4,042	4,326	4,642	4,567	4,391	4,343	3,989
Commitments & Contingencies	-	0.00	-	-	-	0.00	-	-	-	0.00
Redeemable Noncontrolling Interest	119	116	123	113	118	118	119	115	127	120
Total Equity & Noncontrolling Interests	43,608	44,032	42,310	43,802	45,346	46,724	45,504	47,419	48,972	49,551
Total Preferred & Common Equity	43,549	43,978	42,257	43,752	45,328	46,735	45,516	47,432	48,992	49,584
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	43,549	43,978	42,257	43,752	45,328	46,735	45,517	47,432	48,992	49,585
Common Stock	17,036	17,184	17,330	17,471	17,607	17,728	17,925	18,092	18,275	18,406
Retained Earnings	40,452	41,910	43,064	44,289	45,869	47,364	48,542	49,940	51,421	53,102
Treasury Stock	-11,011	-12,017	-15,083	-15,084	-15,121	-15,133	-18,186	-18,187	-18,227	-19,226
Accumulated Other Comprehensive Income / (Loss)	-2,928	-3,099	-3,054	-2,924	-3,027	-3,224	-2,764	-2,413	-2,477	-2,697
Noncontrolling Interest	59	54	53	50	18	-11	-12	-12	-20	-33

This table displays calculated financial ratios and metrics derived from Thermo Fisher Scientific's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.45%	7.72%	14.47%	16.45%	4.86%	26.14%	21.71%	14.55%	-4.58%	0.05%
EBITDA Growth	-3.92%	4.36%	31.49%	21.84%	12.25%	47.67%	18.75%	-2.15%	-12.60%	2.52%
EBIT Growth	-7.24%	4.55%	45.26%	28.98%	19.30%	70.60%	20.94%	-11.20%	-18.04%	8.17%
NOPAT Growth	5.10%	2.94%	10.40%	25.49%	22.45%	64.85%	27.52%	-12.89%	-14.27%	1.56%
Net Income Growth	4.25%	2.38%	10.04%	32.04%	25.87%	72.44%	21.19%	-9.94%	-14.44%	6.43%
EPS Growth	4.46%	3.46%	9.82%	29.52%	26.66%	74.05%	21.93%	-9.40%	-12.37%	6.99%
Operating Cash Flow Growth	12.31%	10.74%	22.93%	13.43%	9.47%	66.68%	12.34%	-1.70%	-8.17%	3.10%
Free Cash Flow Firm Growth	127.92%	-155.66%	-221.58%	180.57%	-10.03%	65.29%	-378.87%	153.37%	-66.48%	66.09%
Invested Capital Growth	-1.18%	12.02%	20.61%	-1.36%	1.25%	2.00%	55.40%	-1.76%	5.09%	2.30%
Revenue Q/Q Growth	0.95%	1.67%	5.52%	1.92%	1.28%	13.06%	0.39%	1.69%	-1.30%	1.20%
EBITDA Q/Q Growth	1.14%	3.25%	18.58%	105.11%	-5.38%	23.64%	-7.29%	0.42%	-0.82%	1.07%
EBIT Q/Q Growth	2.39%	3.57%	30.03%	5.89%	-8.22%	32.52%	-9.84%	-1.38%	-1.09%	2.91%
NOPAT Q/Q Growth	-0.06%	0.76%	-4.71%	13.31%	4.15%	27.14%	-4.37%	-7.18%	0.54%	2.30%
Net Income Q/Q Growth	0.05%	1.38%	-4.37%	14.41%	2.95%	30.65%	-9.81%	-1.21%	0.54%	3.58%
EPS Q/Q Growth	0.41%	1.60%	-5.09%	14.56%	3.27%	30.71%	-9.61%	-0.96%	1.25%	3.64%
Operating Cash Flow Q/Q Growth	15.71%	-4.34%	19.76%	-1.41%	2.30%	20.78%	-8.65%	12.68%	2.89%	-4.76%
Free Cash Flow Firm Q/Q Growth	-12.23%	37.97%	-10.81%	-8.51%	5.24%	15.69%	-370.76%	166.66%	58.16%	48.63%
Invested Capital Q/Q Growth	-0.86%	-3.16%	-1.89%	-0.21%	-0.24%	1.21%	47.49%	0.21%	-1.23%	-3.07%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	45.72%	45.81%	45.17%	44.57%	44.35%	49.67%	50.08%	42.24%	39.90%	41.28%
EBITDA Margin	21.36%	20.70%	23.77%	24.87%	26.63%	31.17%	30.41%	25.98%	23.80%	24.39%
Operating Margin	13.77%	13.45%	14.15%	15.53%	17.99%	24.19%	25.57%	18.69%	16.00%	17.11%
EBIT Margin	11.41%	11.08%	14.05%	15.57%	17.71%	23.96%	23.80%	18.45%	15.85%	17.14%
Profit (Net Income) Margin	11.64%	11.06%	10.64%	12.06%	14.48%	19.79%	19.71%	15.50%	13.90%	14.78%
Tax Burden Percent	102.01%	99.90%	91.60%	90.07%	90.82%	88.20%	87.41%	88.83%	94.55%	90.07%
Interest Burden Percent	100.00%	100.00%	82.62%	86.02%	90.01%	93.68%	94.72%	94.52%	92.70%	95.75%
Effective Tax Rate	-2.27%	-0.05%	8.28%	9.93%	9.18%	11.76%	12.54%	8.97%	4.51%	9.34%
Return on Invested Capital (ROIC)	7.12%	6.95%	6.58%	7.61%	9.32%	15.12%	14.95%	10.80%	9.11%	8.93%
ROIC Less NNEP Spread (ROIC-NNEP)	3.84%	3.81%	3.82%	5.04%	6.38%	11.38%	9.97%	8.39%	6.86%	7.73%
Return on Net Nonoperating Assets (RNNOA)	2.31%	2.48%	2.89%	3.48%	3.59%	4.75%	5.52%	5.55%	3.98%	4.21%
Return on Equity (ROE)	9.43%	9.43%	9.48%	11.09%	12.92%	19.87%	20.47%	16.35%	13.09%	13.13%
Cash Return on Invested Capital (CROIC)	8.30%	-4.39%	-12.10%	8.98%	8.08%	13.15%	-28.43%	12.58%	4.15%	6.65%
Operating Return on Assets (OROA)	4.63%	4.67%	5.73%	6.72%	7.89%	12.11%	11.37%	8.62%	6.94%	7.50%
Return on Assets (ROA)	4.72%	4.66%	4.34%	5.20%	6.45%	10.01%	9.41%	7.24%	6.08%	6.47%
Return on Common Equity (ROCE)	9.43%	9.43%	9.48%	11.09%	12.92%	19.87%	20.42%	16.28%	13.05%	13.11%
Return on Equity Simple (ROE_SIMPLE)	9.25%	9.39%	8.76%	10.65%	12.46%	18.48%	18.94%	15.83%	12.74%	12.78%
Net Operating Profit after Tax (NOPAT)	2,389	2,459	2,715	3,407	4,172	6,878	8,770	7,640	6,550	6,652
NOPAT Margin	14.08%	13.46%	12.98%	13.99%	16.33%	21.35%	22.37%	17.01%	15.28%	15.51%
Net Nonoperating Expense Percent (NNEP)	3.28%	3.14%	2.76%	2.57%	2.94%	3.74%	4.99%	2.41%	2.25%	1.20%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	9.73%	8.02%	8.23%
Cost of Revenue to Revenue	54.28%	54.19%	54.83%	55.43%	55.65%	50.33%	49.92%	57.76%	60.10%	58.72%
SG&A Expenses to Revenue	27.19%	27.20%	26.31%	24.87%	24.05%	21.51%	20.42%	20.02%	19.71%	20.04%
R&D to Revenue	4.08%	4.13%	4.24%	3.97%	3.93%	3.67%	3.59%	3.28%	3.12%	3.24%
Operating Expenses to Revenue	31.95%	32.36%	31.02%	29.04%	26.36%	25.48%	24.51%	23.55%	23.90%	24.17%
Earnings before Interest and Taxes (EBIT)	1,936	2,024	2,940	3,792	4,524	7,718	9,334	8,289	6,794	7,349
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,624	3,782	4,973	6,059	6,801	10,043	11,926	11,670	10,200	10,457
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	2.54	2.95	3.22	4.34	5.31	6.41	4.88	4.38	4.01
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	2.99	3.58	3.65	5.05	5.68	6.66	4.78	4.77	4.64
Price to Earnings (P/E)	0.00	27.03	33.67	30.26	34.87	28.72	33.82	30.91	34.12	31.41
Dividend Yield	0.43%	0.43%	0.32%	0.31%	0.24%	0.19%	0.16%	0.22%	0.26%	0.30%
Earnings Yield	0.00%	3.70%	2.97%	3.30%	2.87%	3.48%	2.96%	3.24%	2.93%	3.18%
Enterprise Value to Invested Capital (EV/IC)	0.00	1.89	2.10	2.38	3.20	4.24	4.09	3.44	3.14	2.98
Enterprise Value to Revenue (EV/Rev)	0.00	3.86	4.52	4.34	5.65	6.04	7.44	5.36	5.40	5.24
Enterprise Value to EBITDA (EV/EBITDA)	0.00	18.64	19.02	17.46	21.21	19.37	24.47	20.65	22.69	21.50
Enterprise Value to EBIT (EV/EBIT)	0.00	34.83	32.17	27.90	31.88	25.20	31.27	29.07	34.07	30.59
Enterprise Value to NOPAT (EV/NOPAT)	0.00	28.67	34.84	31.05	34.57	28.28	33.28	31.54	35.34	33.79
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	21.64	23.62	23.29	29.01	23.47	31.34	26.32	27.54	25.94
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	26.32	39.88	32.53	0.00	27.08	77.60	45.37
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.58	0.77	0.83	0.69	0.60	0.63	0.85	0.78	0.75	0.63
Long-Term Debt to Equity	0.53	0.71	0.74	0.64	0.58	0.55	0.79	0.65	0.67	0.59
Financial Leverage	0.60	0.65	0.76	0.69	0.56	0.42	0.55	0.66	0.58	0.54
Leverage Ratio	2.00	2.02	2.18	2.13	2.00	1.99	2.17	2.26	2.15	2.03
Compound Leverage Factor	2.00	2.02	1.81	1.83	1.80	1.86	2.06	2.14	2.00	1.95
Debt to Total Capital	36.88%	43.56%	45.26%	40.77%	37.43%	38.64%	45.97%	43.86%	42.71%	38.64%
Short-Term Debt to Total Capital	3.11%	3.29%	4.60%	2.73%	1.43%	4.67%	3.34%	7.09%	4.41%	2.74%
Long-Term Debt to Total Capital	33.77%	40.28%	40.66%	38.04%	36.00%	33.97%	42.63%	36.76%	38.29%	35.90%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.24%	0.22%	0.13%	0.11%
Common Equity to Total Capital	63.12%	56.44%	54.74%	59.23%	62.57%	61.34%	53.78%	55.93%	57.16%	61.26%
Debt to EBITDA	3.44	4.40	4.22	3.13	2.61	2.16	2.92	2.96	3.42	2.99
Net Debt to EBITDA	3.32	4.19	3.96	2.79	2.26	1.14	2.55	2.22	2.63	2.46
Long-Term Debt to EBITDA	3.15	4.06	3.80	2.92	2.51	1.90	2.71	2.48	3.07	2.78
Debt to NOPAT	5.22	6.76	7.74	5.57	4.26	3.16	3.98	4.51	5.33	4.70
Net Debt to NOPAT	5.03	6.44	7.25	4.96	3.68	1.66	3.47	3.40	4.10	3.86
Long-Term Debt to NOPAT	4.78	6.25	6.95	5.20	4.09	2.78	3.69	3.78	4.78	4.37
Altman Z-Score	0.00	2.37	2.42	3.08	4.03	4.79	4.24	3.88	3.83	4.07
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.26%	0.42%	0.30%	0.20%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.38	1.44	1.34	1.73	1.92	2.13	1.50	1.48	1.75	1.66
Quick Ratio	0.72	0.79	0.74	1.02	1.09	1.56	0.93	0.98	1.16	1.03
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,788	-1,552	-4,990	4,020	3,617	5,979	-16,673	8,898	2,983	4,954
Operating Cash Flow to CapEx	726.42%	779.43%	799.40%	641.67%	558.76%	565.42%	372.03%	412.53%	603.88%	645.35%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-8.43	6.03	5.35	10.81	-31.11	12.26	2.17	3.56
Operating Cash Flow to Interest Expense	0.00	0.00	6.77	6.81	7.36	14.99	17.37	12.61	6.11	6.24
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	5.92	5.75	6.04	12.34	12.70	9.55	5.10	5.27
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.41	0.42	0.41	0.43	0.45	0.51	0.48	0.47	0.44	0.44
Accounts Receivable Turnover	6.76	6.53	6.04	6.08	6.02	6.39	5.72	5.58	5.25	5.23
Inventory Turnover	4.78	4.71	4.43	4.52	4.46	4.38	4.31	4.86	4.80	5.00
Fixed Asset Turnover	6.96	7.27	6.31	5.93	5.73	6.04	5.51	5.10	4.58	4.57
Accounts Payable Turnover	11.21	11.33	9.75	8.87	8.04	7.92	7.76	8.30	8.24	8.46
Days Sales Outstanding (DSO)	53.99	55.87	60.44	60.05	60.63	57.16	63.85	65.39	69.56	69.85
Days Inventory Outstanding (DIO)	76.32	77.50	82.48	80.78	81.85	83.28	84.66	75.16	75.97	72.97
Days Payable Outstanding (DPO)	32.56	32.22	37.45	41.13	45.39	46.09	47.01	43.95	44.31	43.14
Cash Conversion Cycle (CCC)	97.75	101.14	105.47	99.70	97.09	94.34	101.50	96.60	101.23	99.68
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	33,370	37,381	45,086	44,473	45,028	45,927	71,370	70,112	73,679	75,377
Invested Capital Turnover	0.51	0.52	0.51	0.54	0.57	0.71	0.67	0.63	0.60	0.58
Increase / (Decrease) in Invested Capital	-399	4,011	7,705	-613	555	899	25,443	-1,258	3,567	1,698
Enterprise Value (EV)	0.00	70,497	94,588	105,793	144,246	194,513	291,872	240,951	231,470	224,780
Market Capitalization	0.00	54,656	74,915	88,906	128,893	183,093	261,295	214,817	204,526	198,988
Book Value per Share	$53.51	$54.53	$63.37	$68.52	$74.00	$87.07	$103.52	$112.13	$120.96	$129.63
Tangible Book Value per Share	($25.65)	($34.83)	($41.30)	($31.64)	($25.07)	($10.65)	($53.91)	($37.38)	($36.12)	($30.85)
Total Capital	33,822	38,167	46,421	46,576	47,427	56,252	75,847	78,636	81,759	80,946
Total Debt	12,472	16,627	21,008	18,990	17,752	21,735	34,870	34,488	34,917	31,275
Total Long-Term Debt	11,420	15,372	18,873	17,719	17,076	19,107	32,333	28,909	31,308	29,061
Net Debt	12,020	15,841	19,673	16,887	15,353	11,410	30,393	25,964	26,837	25,705
Capital Expenditures (CapEx)	405	418	501	708	890	1,466	2,503	2,219	1,392	1,343
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,195	2,624	3,173	3,646	3,973	3,956	4,737	5,274	6,106	5,449
Debt-free Net Working Capital (DFNWC)	2,647	3,410	4,508	5,749	6,372	14,281	9,214	13,798	14,186	11,019
Net Working Capital (NWC)	1,595	2,155	2,373	4,478	5,696	11,653	6,677	8,219	10,577	8,805
Net Nonoperating Expense (NNE)	414	437	490	469	474	501	1,042	680	595	314
Net Nonoperating Obligations (NNO)	12,020	15,841	19,673	16,887	15,353	11,410	30,393	25,964	26,837	25,706
Total Depreciation and Amortization (D&A)	1,688	1,758	2,033	2,267	2,277	2,325	2,592	3,381	3,406	3,108
Debt-free, Cash-free Net Working Capital to Revenue	12.94%	14.36%	15.17%	14.97%	15.55%	12.28%	12.08%	11.74%	14.25%	12.71%
Debt-free Net Working Capital to Revenue	15.60%	18.66%	21.55%	23.60%	24.95%	44.33%	23.50%	30.72%	33.10%	25.70%
Net Working Capital to Revenue	9.40%	11.79%	11.34%	18.38%	22.30%	36.17%	17.03%	18.30%	24.68%	20.53%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.96	$5.12	$5.64	$7.31	$9.24	$16.09	$19.62	$17.75	$15.52	$16.58
Adjusted Weighted Average Basic Shares Outstanding	398.70M	394.80M	395M	402M	400M	396M	394M	392M	386M	382M
Adjusted Diluted Earnings per Share	$4.92	$5.09	$5.59	$7.24	$9.17	$15.96	$19.46	$17.63	$15.45	$16.53
Adjusted Weighted Average Diluted Shares Outstanding	401.90M	397.40M	398M	406M	403M	399M	397M	394M	388M	383M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$9.24	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	396.26M	390.39M	401.78M	399.00M	398.83M	393.79M	391.19M	385.43M	381.31M	377.26M
Normalized Net Operating Profit after Tax (NOPAT)	1,716	1,853	2,804	3,452	3,797	6,965	8,942	7,744	6,988	6,996
Normalized NOPAT Margin	10.12%	10.14%	13.40%	14.17%	14.87%	21.62%	22.81%	17.24%	16.31%	16.31%
Pre Tax Income Margin	11.41%	11.08%	11.61%	13.39%	15.94%	22.44%	22.55%	17.44%	14.70%	16.41%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	4.97	5.69	6.69	13.96	17.41	11.42	4.94	5.29
NOPAT to Interest Expense	0.00	0.00	4.59	5.11	6.17	12.44	16.36	10.52	4.76	4.79
EBIT Less CapEx to Interest Expense	0.00	0.00	4.12	4.62	5.38	11.31	12.74	8.36	3.93	4.32
NOPAT Less CapEx to Interest Expense	0.00	0.00	3.74	4.05	4.86	9.79	11.69	7.47	3.75	3.82
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	12.20%	11.77%	10.65%	9.05%	8.03%	5.28%	5.11%	6.54%	8.78%	9.20%
Augmented Payout Ratio	37.52%	73.59%	44.36%	26.07%	48.59%	28.81%	30.99%	49.64%	59.16%	72.31%

This table displays calculated financial ratios and metrics derived from Thermo Fisher Scientific's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	14.44%	6.99%	-9.38%	-2.58%	-0.96%	-4.93%	-3.41%	-1.37%	0.23%	4.68%
EBITDA Growth	-13.00%	1.82%	-32.44%	-15.08%	7.35%	-3.06%	5.60%	7.52%	-6.22%	4.17%
EBIT Growth	-25.70%	-5.77%	-42.93%	-22.23%	10.08%	-3.96%	10.28%	15.65%	-2.98%	11.42%
NOPAT Growth	-15.92%	-25.71%	-39.27%	-15.25%	7.82%	1.93%	-9.36%	11.01%	-4.12%	8.70%
Net Income Growth	-21.28%	-5.12%	-41.80%	-18.35%	13.15%	2.03%	3.02%	14.02%	-3.89%	13.64%
EPS Growth	-20.88%	-4.07%	-40.82%	-16.82%	16.62%	4.74%	4.22%	15.10%	-3.85%	13.81%
Operating Cash Flow Growth	-26.91%	41.92%	-66.89%	0.79%	24.63%	6.77%	71.60%	27.27%	-10.27%	-11.63%
Free Cash Flow Firm Growth	-1,853.82%	112.67%	94.94%	88.13%	85.83%	-163.13%	249.93%	197.39%	49.11%	108.80%
Invested Capital Growth	44.59%	-1.76%	3.59%	5.57%	6.62%	5.09%	-0.30%	-0.90%	4.25%	2.30%
Revenue Q/Q Growth	-2.67%	7.24%	-6.46%	-0.21%	-1.06%	2.95%	-4.97%	1.89%	0.54%	7.52%
EBITDA Q/Q Growth	-11.20%	7.86%	-13.41%	2.40%	12.25%	-2.60%	-5.68%	4.26%	-2.10%	8.20%
EBIT Q/Q Growth	-15.92%	11.14%	-19.99%	4.02%	19.01%	-3.04%	-8.13%	9.09%	-0.16%	11.36%
NOPAT Q/Q Growth	-6.54%	0.17%	-10.09%	0.69%	18.90%	-5.30%	-20.05%	23.31%	2.70%	7.37%
Net Income Q/Q Growth	-10.19%	5.07%	-17.92%	5.42%	24.45%	-5.25%	-17.12%	16.68%	4.89%	12.03%
EPS Q/Q Growth	-10.19%	5.80%	-17.21%	5.72%	25.93%	-4.98%	-17.62%	16.76%	5.20%	12.47%
Operating Cash Flow Q/Q Growth	26.77%	80.02%	-79.09%	111.25%	56.75%	54.23%	-66.40%	56.67%	10.51%	51.89%
Free Cash Flow Firm Q/Q Growth	2.64%	114.76%	-136.21%	-128.10%	-16.26%	34.25%	185.99%	48.16%	-160.75%	111.37%
Invested Capital Q/Q Growth	-1.24%	0.21%	5.84%	0.78%	-0.26%	-1.23%	0.41%	0.18%	4.93%	-3.07%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	40.29%	40.23%	38.66%	39.78%	40.82%	40.35%	40.65%	41.24%	40.84%	42.32%
EBITDA Margin	23.83%	23.97%	22.18%	22.77%	25.83%	24.44%	24.25%	24.82%	24.16%	24.32%
Operating Margin	16.02%	16.25%	14.59%	14.77%	17.63%	17.03%	16.08%	17.27%	17.34%	17.69%
EBIT Margin	15.98%	16.56%	14.16%	14.77%	17.76%	16.73%	16.17%	17.31%	17.19%	17.81%
Profit (Net Income) Margin	14.03%	13.75%	12.06%	12.74%	16.03%	14.75%	12.87%	14.73%	15.37%	16.02%
Tax Burden Percent	93.57%	88.58%	94.79%	95.24%	96.03%	92.30%	83.76%	87.99%	93.51%	94.02%
Interest Burden Percent	93.85%	93.72%	89.85%	90.62%	93.98%	95.55%	94.98%	96.71%	95.61%	95.66%
Effective Tax Rate	1.94%	9.74%	3.37%	3.64%	3.00%	7.64%	17.68%	7.25%	5.68%	7.68%
Return on Invested Capital (ROIC)	11.72%	9.31%	8.47%	8.50%	10.27%	9.38%	7.59%	9.11%	9.10%	9.40%
ROIC Less NNEP Spread (ROIC-NNEP)	10.73%	8.94%	7.77%	7.97%	9.86%	8.97%	7.46%	8.64%	8.74%	9.26%
Return on Net Nonoperating Assets (RNNOA)	4.67%	5.92%	5.79%	5.47%	6.12%	5.21%	5.10%	5.43%	5.34%	5.04%
Return on Equity (ROE)	16.40%	15.23%	14.26%	13.97%	16.40%	14.58%	12.68%	14.54%	14.44%	14.44%
Cash Return on Invested Capital (CROIC)	-22.55%	12.58%	5.60%	3.35%	2.61%	4.15%	8.95%	9.74%	4.38%	6.65%
Operating Return on Assets (OROA)	8.60%	7.74%	6.62%	6.96%	8.22%	7.32%	7.17%	7.61%	7.38%	7.79%
Return on Assets (ROA)	7.55%	6.42%	5.64%	6.01%	7.42%	6.46%	5.70%	6.48%	6.60%	7.01%
Return on Common Equity (ROCE)	16.36%	15.17%	14.20%	13.92%	16.34%	14.54%	12.64%	14.49%	14.40%	14.41%
Return on Equity Simple (ROE_SIMPLE)	16.18%	0.00%	14.27%	13.09%	13.07%	0.00%	13.17%	13.04%	12.49%	0.00%
Net Operating Profit after Tax (NOPAT)	1,677	1,680	1,510	1,521	1,808	1,712	1,369	1,688	1,734	1,861
NOPAT Margin	15.71%	14.67%	14.10%	14.23%	17.10%	15.73%	13.23%	16.01%	16.36%	16.33%
Net Nonoperating Expense Percent (NNEP)	1.00%	0.38%	0.70%	0.54%	0.41%	0.40%	0.13%	0.47%	0.36%	0.14%
Return On Investment Capital (ROIC_SIMPLE)	-	2.14%	-	-	-	2.10%	-	-	-	2.30%
Cost of Revenue to Revenue	59.71%	59.77%	61.34%	60.22%	59.18%	59.65%	59.35%	58.76%	59.16%	57.68%
SG&A Expenses to Revenue	20.68%	20.08%	19.79%	20.07%	19.38%	19.58%	21.10%	20.03%	19.80%	19.33%
R&D to Revenue	3.29%	3.41%	3.23%	3.23%	3.02%	3.00%	3.20%	3.22%	3.26%	3.28%
Operating Expenses to Revenue	24.28%	23.97%	24.06%	25.01%	23.19%	23.32%	24.58%	23.97%	23.49%	24.62%
Earnings before Interest and Taxes (EBIT)	1,706	1,896	1,517	1,578	1,878	1,821	1,673	1,825	1,822	2,029
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,544	2,744	2,376	2,433	2,731	2,660	2,509	2,616	2,561	2,771
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.54	4.88	5.24	4.59	4.30	4.38	4.93	4.45	4.79	4.01
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.48	4.78	5.05	4.61	4.49	4.77	5.28	4.98	5.54	4.64
Price to Earnings (P/E)	28.13	30.91	36.75	35.08	32.80	34.12	37.19	33.93	38.25	31.41
Dividend Yield	0.23%	0.22%	0.22%	0.25%	0.27%	0.26%	0.25%	0.27%	0.25%	0.30%
Earnings Yield	3.55%	3.24%	2.72%	2.85%	3.05%	2.93%	2.69%	2.95%	2.61%	3.18%
Enterprise Value to Invested Capital (EV/IC)	3.20	3.44	3.41	3.10	3.00	3.14	3.42	3.21	3.39	2.98
Enterprise Value to Revenue (EV/Rev)	5.08	5.36	5.78	5.32	5.16	5.40	5.95	5.62	6.22	5.24
Enterprise Value to EBITDA (EV/EBITDA)	19.30	20.65	24.06	22.95	21.79	22.69	24.47	22.61	25.47	21.50
Enterprise Value to EBIT (EV/EBIT)	26.68	29.07	35.44	34.60	32.63	34.07	36.39	33.04	36.90	30.59
Enterprise Value to NOPAT (EV/NOPAT)	27.24	31.54	38.07	36.30	34.40	35.34	39.48	36.16	40.52	33.79
Enterprise Value to Operating Cash Flow (EV/OCF)	27.60	26.32	32.98	30.12	27.43	27.54	28.32	25.44	28.95	25.94
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	27.08	62.08	95.11	118.84	77.60	38.13	32.79	79.05	45.37
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.67	0.78	0.83	0.77	0.78	0.75	0.78	0.74	0.72	0.63
Long-Term Debt to Equity	0.64	0.65	0.69	0.66	0.67	0.67	0.68	0.64	0.64	0.59
Financial Leverage	0.44	0.66	0.75	0.69	0.62	0.58	0.68	0.63	0.61	0.54
Leverage Ratio	1.99	2.26	2.24	2.14	2.10	2.15	2.18	2.11	2.09	2.03
Compound Leverage Factor	1.87	2.12	2.02	1.94	1.98	2.06	2.07	2.04	2.00	1.94
Debt to Total Capital	40.01%	43.86%	45.38%	43.64%	43.70%	42.71%	43.84%	42.69%	41.83%	38.64%
Short-Term Debt to Total Capital	1.39%	7.09%	7.88%	6.18%	5.94%	4.41%	5.48%	6.17%	4.88%	2.74%
Long-Term Debt to Total Capital	38.62%	36.76%	37.50%	37.47%	37.76%	38.29%	38.36%	36.51%	36.96%	35.90%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.24%	0.22%	0.23%	0.21%	0.17%	0.13%	0.13%	0.12%	0.13%	0.11%
Common Equity to Total Capital	59.75%	55.93%	54.39%	56.15%	56.14%	57.16%	56.03%	57.19%	58.04%	61.26%
Debt to EBITDA	2.51	2.96	3.35	3.37	3.43	3.42	3.45	3.37	3.41	2.99
Net Debt to EBITDA	2.26	2.22	3.02	3.06	2.83	2.63	2.74	2.53	2.77	2.46
Long-Term Debt to EBITDA	2.42	2.48	2.77	2.89	2.96	3.07	3.02	2.88	3.02	2.78
Debt to NOPAT	3.54	4.51	5.30	5.33	5.42	5.33	5.56	5.38	5.43	4.70
Net Debt to NOPAT	3.19	3.40	4.77	4.84	4.47	4.10	4.43	4.04	4.41	3.86
Long-Term Debt to NOPAT	3.42	3.78	4.38	4.57	4.68	4.78	4.86	4.61	4.80	4.37
Altman Z-Score	3.82	3.66	3.75	3.65	3.55	3.66	3.93	3.82	4.06	3.89
Noncontrolling Interest Sharing Ratio	0.22%	0.42%	0.42%	0.39%	0.35%	0.30%	0.32%	0.29%	0.26%	0.20%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.74	1.48	1.27	1.42	1.63	1.75	1.70	1.72	1.63	1.66
Quick Ratio	0.95	0.98	0.72	0.79	1.03	1.16	1.09	1.14	1.02	1.03
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-19,901	2,938	-1,064	-2,426	-2,821	-1,855	1,595	2,363	-1,435	163
Operating Cash Flow to CapEx	356.72%	640.99%	161.28%	550.00%	907.52%	944.92%	364.72%	687.72%	859.52%	710.58%
Free Cash Flow to Firm to Interest Expense	-115.04	10.92	-3.55	-7.44	-7.86	-4.76	4.39	6.68	-4.03	0.52
Operating Cash Flow to Interest Expense	11.20	12.96	2.43	4.72	6.72	9.55	3.45	5.54	6.08	10.38
Operating Cash Flow Less CapEx to Interest Expense	8.06	10.94	0.92	3.87	5.98	8.54	2.50	4.73	5.38	8.92
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.54	0.47	0.47	0.47	0.46	0.44	0.44	0.44	0.43	0.44
Accounts Receivable Turnover	6.68	5.58	5.54	5.52	5.41	5.25	5.36	5.31	5.10	5.23
Inventory Turnover	4.62	4.86	4.69	4.63	4.69	4.80	4.69	4.62	4.63	5.00
Fixed Asset Turnover	5.63	5.10	4.92	4.88	4.88	4.58	4.55	4.56	4.56	4.57
Accounts Payable Turnover	10.29	8.30	9.57	10.47	10.49	8.24	9.46	10.09	9.82	8.46
Days Sales Outstanding (DSO)	54.66	65.39	65.87	66.10	67.42	69.56	68.09	68.79	71.61	69.85
Days Inventory Outstanding (DIO)	79.01	75.16	77.76	78.80	77.77	75.97	77.80	78.96	78.78	72.97
Days Payable Outstanding (DPO)	35.48	43.95	38.13	34.86	34.80	44.31	38.57	36.16	37.19	43.14
Cash Conversion Cycle (CCC)	98.19	96.60	105.51	110.04	110.39	101.23	107.32	111.59	113.20	99.68
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	69,968	70,112	74,208	74,790	74,597	73,679	73,982	74,115	77,766	75,377
Invested Capital Turnover	0.75	0.63	0.60	0.60	0.60	0.60	0.57	0.57	0.56	0.58
Increase / (Decrease) in Invested Capital	21,578	-1,258	2,574	3,947	4,629	3,567	-226	-675	3,169	1,698
Enterprise Value (EV)	224,231	240,951	253,355	231,746	224,108	231,470	252,876	237,774	263,481	224,780
Market Capitalization	197,812	214,817	221,404	200,708	194,839	204,526	224,411	211,089	234,706	198,988
Book Value per Share	$111.15	$112.13	$109.64	$113.43	$117.45	$120.96	$119.15	$124.26	$128.25	$129.63
Tangible Book Value per Share	($37.65)	($37.38)	($48.92)	($43.96)	($39.76)	($36.12)	($37.63)	($31.25)	($36.64)	($30.85)
Total Capital	72,887	78,636	77,690	77,923	80,748	81,759	81,231	82,939	84,412	80,946
Total Debt	29,160	34,488	35,257	34,008	35,284	34,917	35,608	35,405	35,313	31,275
Total Long-Term Debt	28,150	28,909	29,135	29,194	30,489	31,308	31,157	30,284	31,197	29,061
Net Debt	26,241	25,964	31,775	30,875	29,133	26,837	28,358	26,582	28,668	25,705
Capital Expenditures (CapEx)	543	544	452	280	266	394	343	285	252	463
Debt-free, Cash-free Net Working Capital (DFCFNWC)	6,272	5,274	6,965	7,564	7,578	6,106	6,904	7,002	6,653	5,449
Debt-free Net Working Capital (DFNWC)	9,191	13,798	10,447	10,697	13,729	14,186	14,154	15,825	13,298	11,019
Net Working Capital (NWC)	8,181	8,219	4,325	5,883	8,934	10,577	9,703	10,704	9,182	8,805
Net Nonoperating Expense (NNE)	179	106	218	159	113	106	38	135	105	36
Net Nonoperating Obligations (NNO)	26,241	25,964	31,775	30,875	29,133	26,837	28,359	26,581	28,667	25,706
Total Depreciation and Amortization (D&A)	838	848	859	855	853	839	836	791	739	742
Debt-free, Cash-free Net Working Capital to Revenue	14.20%	11.74%	15.90%	17.38%	17.45%	14.25%	16.25%	16.54%	15.70%	12.71%
Debt-free Net Working Capital to Revenue	20.81%	30.72%	23.85%	24.58%	31.62%	33.10%	33.31%	37.37%	31.39%	25.70%
Net Working Capital to Revenue	18.52%	18.30%	9.87%	13.52%	20.58%	24.68%	22.83%	25.28%	21.67%	20.53%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.82	$4.02	$3.34	$3.53	$4.44	$4.21	$3.47	$4.05	$4.26	$4.80
Adjusted Weighted Average Basic Shares Outstanding	392M	392M	386M	386M	386M	386M	382M	382M	382M	382M
Adjusted Diluted Earnings per Share	$3.79	$4.01	$3.32	$3.51	$4.42	$4.20	$3.46	$4.04	$4.25	$4.78
Adjusted Weighted Average Diluted Shares Outstanding	395M	394M	388M	388M	388M	388M	384M	383M	384M	383M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	392.20M	385.43M	385.72M	385.95M	386.37M	381.31M	381.72M	382.00M	382.50M	377.26M
Normalized Net Operating Profit after Tax (NOPAT)	1,709	1,729	1,618	1,697	1,890	1,786	1,393	1,759	1,776	2,072
Normalized NOPAT Margin	16.01%	15.10%	15.11%	15.88%	17.87%	16.41%	13.46%	16.69%	16.76%	18.18%
Pre Tax Income Margin	14.99%	15.52%	12.73%	13.38%	16.69%	15.98%	15.36%	16.74%	16.44%	17.03%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.86	7.05	5.06	4.84	5.23	4.67	4.61	5.16	5.12	6.40
NOPAT to Interest Expense	9.69	6.24	5.03	4.66	5.04	4.39	3.77	4.77	4.87	5.87
EBIT Less CapEx to Interest Expense	6.72	5.03	3.55	3.98	4.49	3.66	3.66	4.35	4.41	4.94
NOPAT Less CapEx to Interest Expense	6.55	4.22	3.53	3.81	4.30	3.38	2.83	3.96	4.16	4.41
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	6.26%	6.54%	7.78%	8.51%	8.51%	8.78%	9.03%	8.97%	9.32%	9.20%
Augmented Payout Ratio	34.65%	49.64%	74.09%	78.36%	76.04%	59.16%	59.08%	57.48%	58.34%	72.31%

Frequently Asked Questions About Thermo Fisher Scientific's Financials

When does Thermo Fisher Scientific's financial year end?

According to the most recent income statement we have on file, Thermo Fisher Scientific's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Thermo Fisher Scientific's net income changed over the last 9 years?

Thermo Fisher Scientific's net income appears to be on an upward trend, with a most recent value of $6.34 billion in 2024, rising from $1.98 billion in 2015. The previous period was $5.96 billion in 2023.

What is Thermo Fisher Scientific's operating income?

Thermo Fisher Scientific's total operating income in 2024 was $7.34 billion, based on the following breakdown:

Total Gross Profit: $17.70 billion
Total Operating Expenses: $10.36 billion

How has Thermo Fisher Scientific revenue changed over the last 9 years?

Over the last 9 years, Thermo Fisher Scientific's total revenue changed from $16.97 billion in 2015 to $42.88 billion in 2024, a change of 152.7%.

How much debt does Thermo Fisher Scientific have?

Thermo Fisher Scientific's total liabilities were at $47.65 billion at the end of 2024, a 8.2% decrease from 2023, and a 144.6% increase since 2015.

How much cash does Thermo Fisher Scientific have?

In the past 9 years, Thermo Fisher Scientific's cash and equivalents has ranged from $452.10 million in 2015 to $10.33 billion in 2020, and is currently $4.01 billion as of their latest financial filing in 2024.

How has Thermo Fisher Scientific's book value per share changed over the last 9 years?

Over the last 9 years, Thermo Fisher Scientific's book value per share changed from 53.51 in 2015 to 129.63 in 2024, a change of 142.3%.

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This page (NYSE:TMO) was last updated on 4/25/2025 by MarketBeat.com Staff

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Thermo Fisher Scientific (TMO) Financials

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Thermo Fisher Scientific (TMO) Financials

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