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Friday 6 November 2026 Export TMO’s income statement to Excel — free account

Thermo Fisher Scientific Inc.

TMO Healthcare Diagnostics & Research

Thermo Fisher Scientific Inc.’s revenue for fiscal 2025 (year ended December 2025) was $44.6 billion, up 3.91% from fiscal 2024.

Revenue
+9.13%
EPS
+8.64%
Free cash flow
+15.0%
Total debt
+22.8%

Quarter to September 2026, against a year earlier

695.58 18.64 +2.75%
Market cap
$250.8B
P/E
35.8×
Fwd P/E
35.7×
Dividend yield
0.27%
F-score
5/9
Altman Z
3.84
Beneish M
−2.46
Dividend safety
88/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Thermo Fisher Scientific Inc. (TMO) EV/FCF

Alert me on EV/FCF

As of 5 November 2026, Thermo Fisher Scientific Inc. (TMO) trades at a EV/FCF of 37.2×. Over the past ten years it has ranged from 23.1× (June 2021) to 44.9× (April 2023); the current reading is higher than 83% of that period.

EV/FCF, daily

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Annual newest first

Period EV/FCF Change
FY2025 38.5× 27.01%
FY2024 30.3× (8.77%)
FY2023 33.3× (2.78%)
FY2022 34.2× (19.89%)
FY2021 42.7× 50.78%
FY2020 28.3× (20.05%)
FY2019 35.4× 28.66%
FY2018 27.5× 2.88%
FY2017 26.8× 6.53%
FY2016 25.1× (5.69%)

Quarterly newest first

Period EV/FCF Change
Sep 2026 37.0× 23.30%
Jun 2026 30.0× (7.17%)
Mar 2026 32.4× (16.04%)
Dec 2025 38.5× 11.88%
43 more quarters

Against its own ten years

Low 23.1× High 44.9×
Ten-year median 31.3×
Current reading's percentile 82

EV/FCF against peers

Company EV/FCF
IQV IQVIA Holdings Inc. compare 27.5×
DHR Danaher Corporation compare 30.9×
ILMN Illumina, Inc. compare 31.3×
TMO Thermo Fisher Scientific Inc. 37.2×
A Agilent Technologies, Inc. compare 39.7×
IDXX IDEXX Laboratories, Inc. compare 40.7×
MTD Mettler-Toledo International, Inc. compare 41.4×
WAT Waters Corporation compare 190×
NTRA Natera, Inc. compare 991×

What EV/FCF is

EV/Free CF shows how the value of a whole company, debt included, compares with the free cash its business produces.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ (Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM))

The full definition of EV/FCF →

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