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. In the quarter to June 2026, revenue grew 10.5%, EPS grew 9.35%, free cash flow grew 51.8% and total debt rose 18.7%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years.
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Thermo Fisher Scientific Inc. (TMO) Free cash flow
Thermo Fisher Scientific Inc.'s free cash flow for fiscal 2025 was $6.3B, down 13.5% from $7.3B in fiscal 2024. Over the twelve months to 30 June 2026 it was $7.4B. Over the past ten years it has ranged from $2.5B (fiscal 2015) to $7.3B (fiscal 2024); the current reading is higher than 55% of that period. Thermo Fisher Scientific Inc. ranks 1st of 52 Diagnostics & Research companies by free cash flow.
Free cash flow, annual
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Annual newest first
| Period | Free cash flow | Change |
|---|---|---|
| FY2025 | $6.3B | (13.48%) |
| FY2024 | $7.3B | 4.42% |
| FY2023 | $7.0B | 1.14% |
| FY2022 | $6.9B | 1.85% |
| FY2021 | $6.8B | (0.21%) |
| FY2020 | $6.8B | 67.11% |
| FY2019 | $4.1B | 6.47% |
| FY2018 | $3.8B | 9.45% |
| FY2017 | $3.5B | 23.38% |
| FY2016 | $2.8B | 11.94% |
Quarterly newest first
| Period | Free cash flow | Change |
|---|---|---|
| Jun 2026 | $1.7B | 103.52% |
| Mar 2026 | $825.0M | (72.67%) |
| Dec 2025 | $3.0B | 64.17% |
| Sep 2025 | $1.8B | 66.27% |
| 42 more quarters | Free account |
Against its own ten years
Free cash flow against peers
| Company | Free cash flow |
|---|---|
| TMO Thermo Fisher Scientific Inc. | $7.4B |
| DHR Danaher Corporation compare | $5.5B |
| IQV IQVIA Holdings Inc. compare | $2.3B |
| A Agilent Technologies, Inc. compare | $1.3B |
| IDXX IDEXX Laboratories, Inc. compare | $1.2B |
| ILMN Illumina, Inc. compare | $931.0M |
| MTD Mettler-Toledo International, Inc. compare | $864.0M |
| WAT Waters Corporation compare | $366.6M |
| NTRA Natera, Inc. compare | $84.2M |
What Free cash flow is
Free Cash Flow tells an investor how much cash a company’s operations generate after paying for its investment in physical and intangible assets.
Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)
More on TMO
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement