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Saturday 17 October 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. 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.

690.00 6.49 −0.93%
Market cap
$257.5B
P/E
37.1×
Fwd P/E
23.7×
Dividend yield
0.27%
F-score
5/9
Altman Z
3.84
Beneish M
−2.46
Dividend safety
88/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Thermo Fisher Scientific Inc. (TMO) Net margin

Alert me on Net margin

Thermo Fisher Scientific Inc.'s net margin over the twelve months to 30 June 2026 was 15.0%, down 0.0 percentage points from fiscal 2025 (15.1%). Over the past ten years it has ranged from 10.6% (fiscal 2017) to 19.8% (fiscal 2020); the current reading is higher than 73% of that period. That is above the Diagnostics & Research industry median of −6.37% and above the Healthcare sector median of 0.00%.

Net margin, annual

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Annual newest first

Period Net margin Change (points)
FY2025 15.1% 0.28
FY2024 14.8% 0.78
FY2023 14.0% (1.48)
FY2022 15.5% (4.23)
FY2021 19.7% (0.09)
FY2020 19.8% 5.32
FY2019 14.5% 2.41
FY2018 12.1% 1.42
FY2017 10.6% (0.42)
FY2016 11.1% (0.58)

Quarterly newest first

Period Net margin Change (points)
Jun 2026 14.5% (0.53)
Mar 2026 15.0% (1.08)
Dec 2025 16.1% 1.55
Sep 2025 14.5% (0.37)
42 more quarters

Against its own ten years

Low 10.6% High 19.8%
Ten-year median 14.5%
Current reading's percentile 67

Net margin against peers

Company Net margin
IDXX IDEXX Laboratories, Inc. compare 25.0%
MTD Mettler-Toledo International, Inc. compare 21.9%
A Agilent Technologies, Inc. compare 19.5%
ILMN Illumina, Inc. compare 18.4%
DHR Danaher Corporation compare 16.0%
TMO Thermo Fisher Scientific Inc. 15.0%
IQV IQVIA Holdings Inc. compare 8.10%
WAT Waters Corporation compare 3.59%
NTRA Natera, Inc. compare −7.11%
Diagnostics & Research industry median −6.37%
Healthcare sector median 0.00%
Market median 0.45%

What Net margin is

Net Profit Margin tells an investor how much of each unit of revenue ends up as profit for shareholders after all costs, interest and taxes.

Net Income Allotted to Shareholders ÷ Revenue

The full definition of Net margin →

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