A Business at a Glance
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Forward-looking Statements This Annual Report on Form 10-K (this Annual Report) and our 2025 Annual Report to Shareholders contain “forward-looking statements”, within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties, and are often identified by words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “will,” “should,” or similar expressions or words with similar meanings. Any statements contained herein that are not statements of historical fact should be considered forward-looking statements.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 44.6B | 44.6B | 42.9B | 42.9B | 44.9B | 39.2B |
| Net Income | 6.7B | 6.7B | 6.3B | 6.0B | 7.0B | 7.7B |
| EPS | $17.74 | $17.74 | $16.53 | $15.45 | $17.63 | $19.46 |
| Free Cash Flow | 6.3B | 6.3B | 7.3B | 6.9B | 6.9B | 6.8B |
| ROIC | 8.3% | 8.8% | 8.6% | 8.5% | 11.4% | 12.7% |
| Gross Margin | 69.9% | 69.9% | 70.5% | 69.3% | 68.3% | 65.3% |
| Debt/Equity | 0.80 | 0.80 | 0.68 | 0.82 | 0.91 | 0.92 |
| Dividends/Share | $1.68 | $1.72 | $1.56 | $1.40 | $1.20 | $1.04 |
| Operating Income | 7.7B | 7.7B | 7.3B | 6.9B | 8.4B | 10.0B |
| Operating Margin | 17.4% | 17.4% | 17.1% | 16.0% | 18.7% | 25.6% |
| ROE | 12.6% | 13.0% | 12.8% | 12.8% | 15.8% | 18.9% |
| Shares Outstanding | 378M | 378M | 383M | 388M | 394M | 397M |
THERMO FISHER SCIENTIFIC INC. passes 3 of 9 quality checks, indicating weak fundamentals.
THERMO FISHER SCIENTIFIC INC. trades at 29.0x trailing earnings, compared to its 15-year median P/E of 32.2x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 30.4x vs a median of 28.7x. The company's 5-year average ROIC is 10.0% with a gross margin of 68.7%. Total shareholder yield (dividends + buybacks) is 1.9%. At current prices, the estimated annualized return to fair value is +10.2%.
THERMO FISHER SCIENTIFIC INC. (TMO) has a current P/E ratio of 29.0, compared to its historical median P/E of 32.2. The stock is currently considered Cheap based on its historical valuation range.
THERMO FISHER SCIENTIFIC INC. (TMO) has a 5-year average return on invested capital (ROIC) of 10.0%. This is below average and may indicate limited pricing power.
THERMO FISHER SCIENTIFIC INC. (TMO) has a market capitalization of $194.3B. It is classified as a large-cap stock.
Yes, THERMO FISHER SCIENTIFIC INC. (TMO) pays a dividend with a trailing twelve-month yield of 0.33%. The company also returns capital through share buybacks, with a buyback yield of 1.54%.
Based on historical P/E analysis, THERMO FISHER SCIENTIFIC INC. (TMO) appears cheap. The current P/E of 29.0 is 10% below its historical median of 32.2. The estimated fair value CAGR (P/E method) is 12.1%.
THERMO FISHER SCIENTIFIC INC. (TMO) operates in the Measuring & Controlling Devices, Nec industry, within the Technology sector.
THERMO FISHER SCIENTIFIC INC. (TMO) reported annual revenue of $44.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
THERMO FISHER SCIENTIFIC INC. (TMO) has a net profit margin of 15.0%. This is a healthy margin.
THERMO FISHER SCIENTIFIC INC. (TMO) generated $6.3 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
THERMO FISHER SCIENTIFIC INC. (TMO) has a debt-to-equity ratio of 0.80. This indicates moderate leverage.
THERMO FISHER SCIENTIFIC INC. (TMO) reported earnings per share (EPS) of $17.74 in its most recent fiscal year.
THERMO FISHER SCIENTIFIC INC. (TMO) has a return on equity (ROE) of 13.0%. This indicates moderate shareholder returns.
THERMO FISHER SCIENTIFIC INC. (TMO) has a 5-year average gross margin of 68.7%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 19 years of financial data for THERMO FISHER SCIENTIFIC INC. (TMO), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
THERMO FISHER SCIENTIFIC INC. (TMO) has a book value per share of $141.32, based on its most recent annual SEC filing.