analyzeportfolio
NYSE · Healthcare

THERMO FISHER SCIENTIFIC INC. (TMO)

As-reported financials and SEC filings for THERMO FISHER SCIENTIFIC INC. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About THERMO FISHER SCIENTIFIC INC.

Thermo Fisher Scientific Inc. provides a wide range of products and services to support scientific research, healthcare, and industrial applications. The company operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Biopharma Services, offering instruments, reagents, consumables, diagnostic kits, and outsourced pharmaceutical services. It serves customers including pharmaceutical and biotech companies, hospitals, clinical labs, universities, research institutions, and government agencies worldwide.

Snapshot

Revenue
$44.56B
Revenue growth (YoY)
3.9%
Net income
$6.70B
Diluted EPS
$17.74
Gross margin
Operating margin
17.4%
Net margin
15.0%
FCF margin
14.1%
ROE
12.6%
net income / fiscal-year-end equity
P/E
32.6×
trailing when available, otherwise FY EPS
Market cap
$223.95B
Long-term debt / equity
0.67×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Thermo Fisher Scientific

  • Revenue grew 3.9% to $44.6B in FY2025, faster than the 0.1% the year before.
  • Operating margin is 17.4% in FY2025, -8.2 pp against 25.6% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $12.0B, up 10.5% from Q2 FY2025.
  • Free cash flow was $6.3B in FY2025, 14.1% of revenue.
  • Net income rose 5.8% to $6.7B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Thermo Fisher Scientific’s fundamentals sit among the 558 Healthcare companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin17.4%
82nd percentile of 399
Net margin15.0%
83rd percentile of 418
FCF margin14.1%
76th percentile of 373
Revenue growth (YoY)+3.9%
35th percentile of 538
ROE12.6%
78th percentile of 473
P/E32.6×
69th percentile of 201
Long-term debt / equity0.67×
60th percentile of 243
Short interest2.86d
31st percentile of 557

No reported insider purchases (code P) in the last 90 days; 93 insider sales totaling $61.6M. For context, about 14% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 6 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
6
+6 quant / multi-strat
Initiated / added
8
1 new, 7 added
Reduced / exited
5
4 trimmed, 1 exited
Combined position
$3.60B
reported long value
InvestorAs ofPosition valueSharesChange
Dodge & CoxQ2 2026$1.53B3.1MAdded
Viking Global InvestorsQ2 2026$971.3M1.9MAdded
D. E. ShawquantQ2 2026$321.7M641.6KAdded
Citadel AdvisorsquantQ2 2026$288.3M575.0KReduced
Point72 Asset ManagementquantQ2 2026$139.2M277.7KReduced
AQR Capital ManagementquantQ2 2026$129.0M257.9KAdded
Millennium ManagementquantQ2 2026$83.0M165.5KAdded
Gotham Asset ManagementQ2 2026$69.9M139.5KAdded
Markel GroupQ2 2026$36.6M73.1KAdded
Duquesne Family OfficeQ2 2026$9.6M19.2KNew
Two Sigma InvestmentsquantQ2 2026$8.5M17.0KReduced
Bridgewater AssociatesQ2 2026$6.5M12.9KReduced

No longer held by: Renaissance Technologies (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
93
$61.6M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-31
filed 2026-09-01
Pettiti GianlucaPresident & COOSell3.7K$614.38$2.3M
2026-08-31
filed 2026-09-01
Pettiti GianlucaPresident & COOSell400$614.38$246K
2026-08-24
filed 2026-08-26
CASPER MARC NChairman & CEOSell101$625.41$63K
2026-08-24
filed 2026-08-26
CASPER MARC NChairman & CEOSell79$628.01$50K
2026-08-24
filed 2026-08-26
CASPER MARC NChairman & CEOSell62$628.74$39K
2026-08-24
filed 2026-08-26
CASPER MARC NChairman & CEOSell33$626.59$21K
2026-08-21
filed 2026-08-24
CASPER MARC NChairman & CEOSell3.0K$626.51$1.9M
2026-08-21
filed 2026-08-24
CASPER MARC NChairman & CEOSell2.7K$625.46$1.7M
2026-08-21
filed 2026-08-24
CASPER MARC NChairman & CEOSell2.1K$628.61$1.3M
2026-08-21
filed 2026-08-24
CASPER MARC NChairman & CEOSell1.8K$627.39$1.1M
2026-08-21
filed 2026-08-24
CASPER MARC NChairman & CEOSell321$629.10$202K
2026-08-20
filed 2026-08-24
CASPER MARC NChairman & CEOSell2.6K$628.82$1.6M

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
4.7M
settled 2026-08-14
Change vs prior
-4.8%
vs previous settlement
Days to cover
2.86
at avg daily volume
Avg daily volume
1.7M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-144.7M-4.8%2.86
2026-07-315.0M-5.9%1.90
2026-07-155.3M-1.0%2.98
2026-06-305.4M+21.1%2.19
2026-06-154.4M-5.9%2.05
2026-05-294.7M-1.7%1.67
2026-05-154.8M-1.9%1.91
2026-04-304.9M+7.2%2.12

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$44.56B$42.88B$42.86B$44.91B$39.21B
Gross profit
Operating income$7.75B$7.34B$6.86B$8.39B$10.03B
Net income$6.70B$6.33B$6.00B$6.96B$7.73B
Diluted EPS$17.74$16.53$15.45$17.63$19.46

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$9.85B$4.01B$8.08B$8.52B$4.48B
Current assets$28.71B$22.14B$24.59B$25.23B$20.11B
Total assets$110.34B$97.32B$98.73B$97.15B$95.12B
Current liabilities$15.19B$13.33B$14.01B$17.01B$13.44B
Long-term debt$35.85B$29.06B$31.31B$28.91B$32.33B
Total liabilities$56.93B$47.77B$52.00B$53.12B$54.27B
Total equity$53.41B$49.55B$46.72B$44.03B$40.85B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$7.82B$8.67B$8.41B$9.15B$9.31B
Capital expenditure$1.52B$1.40B$1.48B$2.24B$2.52B
Free cash flow$6.29B$7.27B$6.93B$6.91B$6.79B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$11.99B10.5%$1.74B$4.68
Q1 FY2026$11.01B6.2%$1.65B$4.43
Q4 FY2025$12.21B7.2%$1.96B$5.20
Q3 FY2025$11.12B4.9%$1.62B$4.27
Q2 FY2025$10.86B3.0%$1.62B$4.28
Q1 FY2025$10.36B0.2%$1.51B$3.98
Q4 FY2024$11.39B4.7%$1.83B$4.78
Q3 FY2024$10.60B0.2%$1.63B$4.25

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorHealthcare
SIC industryMeasuring & Controlling Devices, NEC
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 27, 2026)
Oldest indexed filing2019
SEC CIK97745

Selected SEC filings

10-K2026-02-26
View on EDGAR →
10-K2025-02-20
View on EDGAR →
10-Q2026-07-31
View on EDGAR →
10-Q2026-05-01
View on EDGAR →
10-Q2025-10-31
View on EDGAR →
10-Q2025-08-01
View on EDGAR →
8-K2026-07-23
View on EDGAR →
8-K2026-05-26
View on EDGAR →

Largest Healthcare peers

All Healthcare companies →

Monitor TMO

Get an alert when Thermo Fisher Scientific files something material, see which superinvestors own it, and ask its filings a question with cited answers.

Monitor TMO free

Includes one free filing-grounded research answer. Or check your whole portfolio, no account needed.

Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.