Thermo Fisher Scientific Inc. (TMO) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 11.01B | 12.21B | 11.12B | 10.86B | 10.36B | 11.39B | 10.6B | 10.54B | 10.35B | 10.89B | 10.57B | 10.69B | 10.71B | 11.45B | 10.68B | 10.97B | 11.82B | 10.7B | 9.33B | 9.27B |
| Revenue Growth % | 6.18% | 7.2% | 4.94% | 2.98% | 0.18% | 4.68% | 0.23% | -1.37% | -3.41% | -4.93% | -0.96% | -2.58% | -9.38% | 6.99% | 14.44% | 18.3% | 19.3% | 1.44% | 9.49% | 34.06% |
| Cost of Goods Sold | 6.53B | 7.58B | 6.47B | 6.81B | 6.12B | 6.93B | 6.25B | 6.2B | 6.13B | 6.93B | 6.24B | 6.42B | 6.53B | 7.29B | 6.36B | 6.38B | 6.33B | 5.77B | 4.69B | 4.74B |
| COGS % of Revenue | 59.33% | 62.05% | 58.17% | 62.71% | 59.04% | 60.8% | 59.02% | 58.79% | 59.24% | 63.69% | 59.03% | 60.05% | 60.93% | 63.69% | 59.53% | 58.2% | 53.6% | 53.93% | 50.23% | 51.09% |
| Gross Profit | 4.48B | 4.64B | 4.65B | 4.05B | 4.25B | 4.47B | 4.34B | 4.34B | 4.22B | 3.95B | 4.33B | 4.27B | 4.18B | 4.16B | 4.32B | 4.59B | 5.48B | 4.93B | 4.64B | 4.54B |
| Gross Margin % | 40.67% | 37.95% | 41.83% | 37.29% | 40.96% | 39.2% | 40.98% | 41.21% | 40.76% | 36.31% | 40.97% | 39.95% | 39.07% | 36.31% | 40.47% | 41.8% | 46.4% | 46.07% | 49.77% | 48.91% |
| Gross Profit Growth % | 5.44% | 3.78% | 7.11% | -6.81% | 0.66% | 13% | 0.25% | 1.76% | 0.79% | -4.91% | 0.25% | -6.91% | -23.71% | -15.68% | -6.96% | 1.12% | 5.36% | -6.77% | 7.15% | 34.21% |
| Operating Expenses | 2.61B | 2.33B | 2.71B | 2.13B | 2.4B | 2.2B | 2.43B | 2.59B | 2.5B | 1.96B | 2.36B | 2.49B | 2.48B | 2.17B | 2.56B | 2.65B | 2.64B | 2.25B | 2.3B | 2.28B |
| OpEx % of Revenue | 23.74% | 19.11% | 24.38% | 19.63% | 23.21% | 19.3% | 22.9% | 24.53% | 24.14% | 18.02% | 22.3% | 23.28% | 23.16% | 18.97% | 24.01% | 24.11% | 22.36% | 21.03% | 24.61% | 24.63% |
| Selling, General & Admin | 1.8B | 1.98B | 2.37B | 1.78B | 2.06B | 1.82B | 2.08B | 2.25B | 2.17B | 1.64B | 2.04B | 2.14B | 2.13B | 1.78B | 2.21B | 2.28B | 2.28B | 1.86B | 1.95B | 1.94B |
| SG&A % of Revenue | 16.34% | 16.18% | 21.26% | 16.39% | 19.91% | 16.02% | 19.64% | 21.32% | 20.94% | 15.02% | 19.28% | 20.05% | 19.93% | 15.55% | 20.73% | 20.78% | 19.28% | 17.37% | 20.85% | 20.93% |
| Research & Development | 336M | 357M | 347M | 352M | 342M | 374M | 346M | 339M | 331M | 327M | 319M | 345M | 346M | 391M | 351M | 365M | 364M | 392M | 351M | 343M |
| R&D % of Revenue | 3.05% | 2.92% | 3.12% | 3.24% | 3.3% | 3.28% | 3.26% | 3.22% | 3.2% | 3% | 3.02% | 3.23% | 3.23% | 3.41% | 3.29% | 3.33% | 3.08% | 3.66% | 3.76% | 3.7% |
| Other Operating Expenses | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 1.86B | 2.3B | 1.94B | 1.92B | 1.84B | 2.27B | 1.92B | 1.76B | 1.72B | 1.99B | 1.97B | 1.78B | 1.7B | 1.99B | 1.76B | 1.94B | 2.84B | 2.68B | 2.35B | 2.25B |
| Operating Margin % | 16.93% | 18.85% | 17.47% | 17.66% | 17.75% | 19.9% | 18.08% | 16.68% | 16.63% | 18.29% | 18.67% | 16.67% | 15.91% | 17.34% | 16.46% | 17.69% | 24.05% | 25.03% | 25.17% | 24.27% |
| Operating Income Growth % | 1.25% | 1.5% | 1.41% | 9.04% | 6.98% | 13.91% | -2.94% | -1.29% | 0.94% | 0.3% | 12.35% | -8.24% | -40.04% | -25.91% | -25.17% | -13.77% | -7.58% | -14.57% | -1.8% | 55.56% |
| EBITDA | 2.29B | 3.03B | 2.61B | 2.6B | 2.54B | 3.01B | 2.66B | 2.55B | 2.56B | 2.83B | 2.83B | 2.64B | 2.56B | 2.83B | 2.6B | 2.78B | 3.7B | 3.36B | 2.98B | 2.91B |
| EBITDA Margin % | 20.84% | 24.8% | 23.43% | 23.97% | 24.56% | 26.42% | 25.06% | 24.17% | 24.71% | 26% | 26.74% | 24.67% | 23.93% | 24.74% | 24.3% | 25.31% | 31.32% | 31.41% | 31.9% | 31.39% |
| EBITDA Growth % | -9.9% | 0.63% | -1.88% | 2.12% | -0.43% | 6.36% | -6.05% | -3.34% | -0.27% | -0.11% | 8.94% | -5.08% | -30.75% | -15.73% | -12.8% | -4.6% | 0.14% | -10.06% | 0.34% | 44.04% |
| D&A (Non-Cash Add-back) | 430M | 727M | 663M | 685M | 705M | 742M | 740M | 790M | 836M | 839M | 853M | 855M | 859M | 848M | 838M | 836M | 859M | 683M | 628M | 660M |
| EBIT | 1.88B | 2.49B | 2.17B | 2.11B | 1.92B | 2.33B | 2.17B | 2.19B | 1.95B | 2.18B | 2.16B | 1.76B | 1.66B | 2.05B | 1.77B | 2.06B | 2.68B | 2.02B | 2.3B | 2.17B |
| Net Interest Income | -121M | -107M | -113M | -107M | -100M | -157M | -147M | -126M | -84M | -135M | -147M | -148M | -154M | -119M | -105M | -112M | -118M | -150M | -119M | -111M |
| Interest Income | 233M | 258M | 234M | 297M | 203M | 227M | 277M | 295M | 279M | 309M | 246M | 178M | 146M | 150M | 68M | 36M | 18M | 11M | 9M | 11M |
| Interest Expense | 354M | 365M | 347M | 404M | 303M | 384M | 424M | 421M | 363M | 444M | 393M | 326M | 300M | 269M | 173M | 148M | 136M | 161M | 128M | 122M |
| Other Income/Expense | -129M | -179M | -115M | -206M | -234M | -294M | -188M | -77M | -108M | -252M | -226M | -367M | -366M | -238M | -228M | -75M | -321M | -818M | -175M | -204M |
| Pretax Income | 1.73B | 2.12B | 1.83B | 1.71B | 1.61B | 1.97B | 1.73B | 1.68B | 1.61B | 1.74B | 1.75B | 1.41B | 1.34B | 1.75B | 1.53B | 1.87B | 2.52B | 1.86B | 2.17B | 2.05B |
| Pretax Margin % | 15.76% | 17.38% | 16.44% | 15.76% | 15.5% | 17.32% | 16.3% | 15.95% | 15.58% | 15.97% | 16.53% | 13.23% | 12.49% | 15.26% | 14.32% | 17.01% | 21.33% | 17.39% | 23.29% | 22.07% |
| Income Tax | 70M | 153M | 207M | 92M | 95M | 150M | 99M | 128M | 281M | 133M | 53M | 52M | 46M | 173M | 31M | 198M | 301M | 202M | 271M | 219M |
| Effective Tax Rate % | 4.04% | 7.21% | 11.32% | 5.38% | 5.92% | 7.6% | 5.73% | 7.61% | 17.43% | 7.65% | 3.03% | 3.68% | 3.44% | 9.9% | 2.03% | 10.61% | 11.94% | 10.85% | 12.47% | 10.7% |
| Net Income | 1.65B | 1.98B | 1.62B | 1.62B | 1.51B | 1.83B | 1.63B | 1.55B | 1.33B | 1.63B | 1.72B | 1.36B | 1.29B | 1.58B | 1.5B | 1.66B | 2.21B | 1.66B | 1.9B | 1.83B |
| Net Margin % | 15% | 16.17% | 14.53% | 14.9% | 14.54% | 16.06% | 15.38% | 14.69% | 12.84% | 14.97% | 16.22% | 12.74% | 12.04% | 13.76% | 14% | 15.17% | 18.74% | 15.49% | 20.39% | 19.71% |
| Net Income Growth % | 9.56% | 7.92% | -0.86% | 4.46% | 13.48% | 12.27% | -4.96% | 13.74% | 3.03% | 3.43% | 14.72% | -18.21% | -41.81% | -4.95% | -21.4% | -8.97% | -5.22% | -33.63% | -1.6% | 58.13% |
| Net Income (Continuing) | 1.66B | 1.97B | 1.62B | 1.62B | 1.51B | 1.82B | 1.63B | 1.55B | 1.33B | 1.61B | 1.7B | 1.36B | 1.29B | 1.57B | 1.5B | 1.67B | 2.22B | 1.66B | 1.9B | 1.83B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 121M | 129M | 129M | 91M | 95M | 87M | 107M | 103M | 107M | 107M | 136M | 163M | 176M | 170M | 178M | 178M | 175M | 184M | 0 | 0 |
| EPS (Diluted) | 4.43 | 5.21 | 4.27 | 4.28 | 3.98 | 4.78 | 4.24 | 4.04 | 3.46 | 4.20 | 4.42 | 3.51 | 3.32 | 4.01 | 3.78 | 4.22 | 5.61 | 4.17 | 4.79 | 4.61 |
| EPS Growth % | 11.31% | 9% | 0.71% | 5.94% | 15.03% | 13.81% | -4.07% | 15.1% | 4.22% | 4.74% | 16.93% | -16.82% | -40.82% | -3.84% | -21.09% | -8.46% | -4.59% | -33.17% | -1.03% | 58.97% |
| EPS (Basic) | 4.44 | 5.22 | 4.28 | 4.28 | 3.99 | 4.79 | 4.27 | 4.05 | 3.48 | 4.21 | 4.44 | 3.53 | 3.34 | 4.03 | 3.81 | 4.24 | 5.65 | 4.20 | 4.83 | 4.65 |
| Diluted Shares Outstanding | 373M | 377M | 378M | 378M | 379M | 383M | 384M | 383M | 384M | 388M | 388M | 388M | 388M | 393M | 395M | 394M | 395M | 398M | 397M | 396M |
| Basic Shares Outstanding | 372M | 376M | 378M | 378M | 378M | 382.85M | 382M | 382M | 382M | 387M | 386M | 386M | 386M | 391M | 392M | 392M | 392M | 394M | 394M | 393M |
| Dividend Payout Ratio | 9.81% | 8.2% | 10.09% | 10.02% | 9.89% | 8.14% | 9.2% | 9.63% | 10.17% | 8.34% | 7.87% | 9.92% | 9.08% | 7.42% | 7.89% | 7.03% | 4.65% | 6.21% | 5.36% | 5.63% |