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) Return on invested capital
Thermo Fisher Scientific Inc.'s return on invested capital over the twelve months to 30 June 2026 was 5.80%, down 0.3 percentage points from fiscal 2025 (6.12%). Over the past ten years it has ranged from 4.25% (fiscal 2016) to 11.3% (fiscal 2020); the current reading is higher than 45% of that period. That is above the Diagnostics & Research industry median of 0.00% and above the Healthcare sector median of 0.00%.
Return on invested capital, annual
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Annual newest first
| Period | Return on invested capital | Change (points) |
|---|---|---|
| FY2025 | 6.12% | (0.16) |
| FY2024 | 6.28% | 0.15 |
| FY2023 | 6.13% | (2.01) |
| FY2022 | 8.14% | (0.98) |
| FY2021 | 9.12% | (2.13) |
| FY2020 | 11.3% | 4.78 |
| FY2019 | 6.47% | 1.00 |
| FY2018 | 5.47% | 1.16 |
| FY2017 | 4.31% | 0.06 |
| FY2016 | 4.25% | (0.27) |
Against its own ten years
Return on invested capital against peers
| Company | Return on invested capital |
|---|---|
| IDXX IDEXX Laboratories, Inc. compare | 48.9% |
| MTD Mettler-Toledo International, Inc. compare | 35.4% |
| ILMN Illumina, Inc. compare | 17.5% |
| A Agilent Technologies, Inc. compare | 11.1% |
| IQV IQVIA Holdings Inc. compare | 6.80% |
| TMO Thermo Fisher Scientific Inc. | 5.80% |
| DHR Danaher Corporation compare | 4.37% |
| WAT Waters Corporation compare | 1.05% |
| NTRA Natera, Inc. compare | −22.3% |
| Diagnostics & Research industry median | 0.00% |
| Healthcare sector median | 0.00% |
| Market median | 0.00% |
What Return on invested capital is
Return on Invested Capital shows how much after-tax operating profit a company earns on the money its lenders and shareholders have put in.
TTM: (Operating Income × 0.625) ÷ (Shareholders Equity (Total) (latest quarter) + Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter) − Cash & Short Term Investments (latest quarter)); Annual: (Operating Income × 0.625) ÷ (Shareholders Equity (Total) + Long Term Debt (Total) + Current Part of Debt − Cash & Short Term Investments)
More on TMO
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- 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
- 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