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Thermo Fisher Scientific
TMOHealthcareGenerated Sep 5, 2026, 02:30 PM UTC
TMO (Thermo Fisher Scientific) analytical snapshot. Revenue grew +3.9% YoY to $44.56B. 5-year revenue CAGR +2.6%; 10y CAGR +10.4%. Net margin at 15.05% (expanding ▲). Market cap $226.94B at $613.78 per share. Trailing P/E 34.60, P/S 5.09, P/B 4.31. EV/Operating income ≈ 34.23 (EV $265.16B). Risk: Moderate. Macro: Risk-on · Supportive. Composite analytical score 3 (data confidence 83%). Descriptive analytics from public filings — not investment advice.
Free SEC analysis
— computed from SEC filings, free to readFilings & Ownership
Latest annual report (10-K) filed Feb 26, 2026. Latest quarterly report (10-Q) filed Jul 31, 2026. 7 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 26, 2026.
- Latest quarterly report (10-Q) filed Jul 31, 2026.
- 7 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference Thermo Fisher Scientific; broad institutional reporting.
- Recent filers include Oxler Private Wealth LLC, Axiom Investment Management LLC, Trivant Custom Portfolio Group, LLC.
- 4 recent 13D activist/beneficial-ownership filings — potential catalyst.
- 16 recent 13G passive institutional ownership notices.
| Filer | Form | Filed |
|---|---|---|
| Oxler Private Wealth LLC | 13F-HR | Nov 15, 2022 |
| Axiom Investment Management LLC | 13F-HR | Feb 14, 2023 |
| Trivant Custom Portfolio Group, LLC | 13F-HR | Apr 21, 2025 |
| SILVER CAPITAL MANAGEMENT LLC | 13F-HR | Nov 15, 2010 |
| Axiom Investment Management LLC | 13F-HR | Aug 15, 2022 |
| Date | Form | Description |
|---|---|---|
| Jul 23, 2026 | 8-K | 8-K |
| May 26, 2026 | 8-K | 8-K |
| Apr 23, 2026 | 8-K | 8-K |
| Mar 24, 2026 | 8-K | 8-K |
| Feb 12, 2026 | 8-K | 8-K |
| Jan 29, 2026 | 8-K | 8-K |
| Jan 12, 2026 | 8-K | 8-K |
SEC Filing Deep-Analysis
1 risk signal(s), 2 watch item(s) detected from XBRL filing diff analysis. 1 risk signal(s) detected versus 0 positive signal(s). The balance of evidence suggests elevated filing-specific risk that warrants monitoring in subsequent filings.
- Restatement of financial statements: The term "restatement of" "previously issued" appears in 5 recent filing(s) (vs 2 in the prior period). This risk language is ongoing.
- Goodwill is 48% of total assets: Goodwill of $54.83B represents a large share of the balance sheet. If acquired businesses underperform, a non-cash impairment charge could materially impact earnings. Monitor segment performance and acquisition integration metrics.
- NEW: Restructuring: Restructuring appears in recent filings but not in the prior 24-month period. Monitor for materiality.
- Endogenous analysis: 1 risk signal(s) detected versus 0 positive signal(s). The balance of evidence suggests elevated filing-specific risk that warrants monitoring in subsequent filings.
- 8 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 1 new risk-language term(s) detected in filing text: Restructuring.
- Ongoing high-severity risk language: Restatement of financial statements.
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $42.88B | $44.56B | $1.68B | +3.9% |
| Gross profit | $2.76B | $3.04B | $272.0M | +9.8% |
| Operating income | $7.34B | $7.75B | $409.0M | +5.6% |
| Net income | $6.33B | $6.70B | $369.0M | +5.8% |
| Operating cash flow | $8.67B | $7.82B | $-849.0M | -9.8% |
| Capex | $1.40B | $1.52B | $125.0M | +8.9% |
| Total assets | $97.32B | $110.34B | $13.02B | +13.4% |
| Long-term debt | $31.07B | $39.17B | $8.10B | +26.1% |
| Cash & equivalents | $4.01B | $9.85B | $5.84B | +145.7% |
| Stockholders equity | $49.58B | $53.41B | $3.82B | +7.7% |
| Inventory | $4.98B | $5.42B | $447.0M | +9.0% |
| Accounts receivable | $8.19B | $8.90B | $709.0M | +8.7% |
| R&D expense | $1.39B | $1.40B | $7.0M | +0.5% |
| SG&A expense | $8.60B | $8.73B | $137.0M | +1.6% |
| Interest expense | $726.0M | $1.38B | $649.0M | +89.4% |
| Type | Concepts |
|---|---|
| Added | BusinessCombinationContingentConsiderationLiability, DerivativeAssets, DerivativeLiabilities, EffectiveIncomeTaxRateReconciliationCrossBorderTaxEffectAmount, EffectiveIncomeTaxRateReconciliationCrossBorderTaxEffectPercent, EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential, EffectiveIncomeTaxRateReconciliationOtherAdjustments, EffectiveIncomeTaxRateReconciliationTaxCredits |
| Removed | AccrualForEnvironmentalLossContingencies, AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment, AlternativeInvestment, CommonStockCapitalSharesReservedForFutureIssuance, CurrentFederalTaxExpenseBenefit, CurrentForeignTaxExpenseBenefit, CurrentIncomeTaxExpenseBenefit, CurrentStateAndLocalTaxExpenseBenefit, DeferredFederalIncomeTaxExpenseBenefit, DeferredForeignIncomeTaxExpenseBenefit |
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Restatement of financial statements | high | 5 | 2 | Ongoing |
| Impairment charge | medium | 5 | 2 | Ongoing |
| Restructuring | medium | 5 | 0 | NEW |
| Off-balance sheet arrangements | medium | 5 | 2 | Ongoing |
| Related party transactions | low | 2 | 0 | NEW |
Fundamentals
Revenue grew +3.9% YoY to $44.56B. 5-year revenue CAGR +2.6%; 10y CAGR +10.4%. Net margin at 15.05% (expanding ▲).
- Revenue grew +3.9% YoY to $44.56B.
- 5-year revenue CAGR +2.6%; 10y CAGR +10.4%.
- Net margin at 15.05% (expanding ▲).
- Return on equity 12.55%, ROA 6.08%, ROIC 8.37%.
- Gross margin 0.00%, operating margin 17.38%.
- Free cash flow margin 14.12% ($6.29B).
- Net income up ▲ +5.8% YoY.
- Debt/equity 0.80, current ratio 1.55, net debt $38.22B.
- Asset turnover 0.39 — capital efficiency.
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2024 | $42.88B | +0.1% | 0.00 | 17.11 | 14.77 | $7.27B | 12.78 |
| 2025 | $44.56B | +3.9% | 0.00 | 17.38 | 15.05 | $6.29B | 12.55 |
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Jul 2, 2016 | $4.54B | — | — | — |
| Oct 1, 2016 | $4.49B | — | -1.0% | — |
| Apr 1, 2017 | $4.76B | — | +6.1% | — |
| Jul 1, 2017 | $4.99B | — | +4.7% | — |
| Sep 30, 2017 | $5.12B | — | +2.5% | — |
| Mar 31, 2018 | $5.85B | — | +14.4% | — |
Pro analysis — preview
— score, signals & key metrics shown; full reasoning lockedValuation
Market cap $226.94B at $613.78 per share. Trailing P/E 34.60, P/S 5.09, P/B 4.31. EV/Operating income ≈ 34.23 (EV $265.16B).
- Market cap $226.94B at $613.78 per share.
Price & Technicals
Price $613.78 — uptrend (above 200-DMA); 1-month momentum positive. RSI(14) 63.31.
- Price $613.78 — uptrend (above 200-DMA); 1-month momentum positive.
Macro & Rates
Risk-on · Supportive. Real GDP growth 1.50% (quarterly, as of Apr 1, 2026). CPI inflation +3.3% YoY. Fed funds rate 3.63%, 10Y Treasury 4.77%.
- Market regime: Risk-on · Supportive.
Risk Scorecard
Composite risk Moderate. Leverage debt/equity 0.80 (moderate). Liquidity current ratio 1.55 (adequate).
- Composite risk: Moderate.
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Macro exposure
Defensive · Low sensitivityMacro regime: Risk-on · Supportive. Thermo Fisher Scientific is a defensive name (low macro sensitivity) — a supportive backdrop, though defensives lag risk-on tapes.
Analytical read
deterministic previewRevenue grew **+3.9%** YoY to $44.56B..
Peer comparison
Defensive groupHow TMO stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| DexCom Inc. DXCM | 21 | Neutral |
| Bristol-Myers Squibb BMY | 19 | Neutral |
| Gilead Sciences GILD | 10 | Neutral |
| Regeneron Pharmaceuticals REGN | 10 | Neutral |
| Johnson & Johnson JNJ | 10 | Neutral |
| Eli Lilly & Co. LLY | 9 | Neutral |
| Biogen Inc. BIIB | 7 | Neutral |
| Abbott Laboratories ABT | 7 | Neutral |
| Zoetis Inc. ZTS | 6 | Neutral |
| HCA Healthcare HCA | 6 | Neutral |
| Coca-Cola Co. KO | 3 | Neutral |
| Thermo Fisher Scientific TMO● you | 3 | Neutral |
| Intuitive Surgical Inc. ISRG | 2 | Neutral |
| Danaher Corp. DHR | 1 | Neutral |
| Illumina Inc. ILMN | 0 | Neutral |
| Merck & Co. MRK | 0 | Neutral |
| Cigna Group CI | 0 | Neutral |
| Vertex Pharmaceuticals VRTX | 0 | Neutral |
| AbbVie Inc. ABBV | -2 | Neutral |
| Colgate-Palmolive CL | -4 | Neutral |
| Pfizer Inc. PFE | -6 | Neutral |
| CVS Health Corp. CVS | -7 | Neutral |
| Kroger Co. KR | -8 | Neutral |
| Amgen Inc. AMGN | -10 | Neutral |
| Procter & Gamble PG | -10 | Neutral |
| Mondelez International MDLZ | -12 | Neutral |
| Sysco Corp. SYY | -15 | Neutral |
| Moderna Inc. MRNA | -19 | Neutral |
| Walmart Inc. WMT | -20 | Neutral |
| Costco Wholesale COST | -20 | Neutral |
| Hershey Co. HSY | -22 | Neutral |
| PepsiCo Inc. PEP | -22 | Neutral |
| Kimberly-Clark Corp. KMB | -24 | Neutral |
| UnitedHealth Group UNH | -24 | Neutral |