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Thermo Fisher Scientific
TMOHealthcareGenerated Jul 5, 2026, 08:53 PM UTC
TMO (Thermo Fisher Scientific) analytical snapshot. Return on equity 12.09%, ROA 6.07%, ROIC 8.50%. Debt/equity 0.83, current ratio 1.53, net debt $39.69B. Market cap $194.52B at $523.44 per share. Trailing P/E 33.88, P/S 11.47, P/B 3.75. EV/Operating income ≈ 34.15 (EV $234.21B). Risk: Moderate. Macro: Risk-on · Supportive. Composite analytical score -18 (data confidence 83%). Descriptive analytics from public filings — not investment advice.
Market cap
$194.52B
371.62M shares
Price
$523.44
NYQ
P/E (ttm)
33.88
Revenue (FY)
—
Net margin
—
Free cash flow
$6.93B
Risk level
Moderate
Free SEC analysis
— computed from SEC filings, free to readFree previewFundamentals Analyst
Fundamentals
Fundamentals Analyst
score 0Stable
80% conf
Return on equity 12.09%, ROA 6.07%, ROIC 8.50%. Debt/equity 0.83, current ratio 1.53, net debt $39.69B.
- Return on equity 12.09%, ROA 6.07%, ROIC 8.50%.
- Debt/equity 0.83, current ratio 1.53, net debt $39.69B.
Revenue (FY)
—
Net margin
—
ROE
12.09%
ROA 6.07%
ROIC
8.50%
EPS (diluted)
$15.45
FY2025
Free cash flow
$6.93B
Debt / equity
0.83
Cash $3.25B
Current ratio
1.53
Equity $51.93B
Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2016 | $16.89B | — | 10.79 | 14.82 | 0.00 | $2.30B | 0.00 |
| 2017 | $16.96B | +0.4% | 11.54 | 13.77 | 0.00 | $2.52B | 0.00 |
| 2018 | — | — | — | — | — | $2.81B | 0.00 |
| 2019 | — | — | — | — | — | $3.50B | 0.00 |
| 2020 | — | — | — | — | — | $3.79B | 0.00 |
| 2021 | — | — | — | — | — | $4.05B | 0.00 |
| 2022 | — | — | — | — | — | $6.82B | 0.00 |
| 2023 | — | — | — | — | — | $6.79B | 0.00 |
| 2024 | — | — | — | — | — | $6.91B | 0.00 |
| 2025 | — | — | — | — | — | $6.93B | 12.09 |
Quarterly revenue trend (last 6 quarters, SEC 10-Q)
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Apr 1, 2017 | $4.76B | — | — | — |
| Jul 1, 2017 | $9.76B | — | +104.7% | — |
| Jul 1, 2017 | $4.99B | — | -48.8% | — |
| Sep 30, 2017 | $14.87B | — | +198.0% | — |
| Sep 30, 2017 | $5.12B | — | -65.6% | — |
| Mar 31, 2018 | $5.85B | — | +14.4% | — |
Revenue (annual, SEC 10-K)
2016: 16,890
2017: 16,965
2018: 0
2019: 0
2020: 0
2021: 0
2022: 0
2023: 0
2024: 0
2025: 0
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Profitability trends (%)
GrossOperatingNet
Free cash flow (annual)
2016: 2,301
2017: 2,519
2018: 2,814
2019: 3,497
2020: 3,785
2021: 4,047
2022: 6,815
2023: 6,789
2024: 6,911
2025: 6,927
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Sources:SEC EDGAR — Company Facts (XBRL)
Free previewRegulatory Analyst
Filings & Ownership
Regulatory Analyst
score 30Improving
80% conf
Latest annual report (10-K) filed Feb 26, 2026. Latest quarterly report (10-Q) filed May 1, 2026. 10 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 26, 2026.
- Latest quarterly report (10-Q) filed May 1, 2026.
- 10 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference Thermo Fisher Scientific; broad institutional reporting.
- Recent filers include Oxler Private Wealth LLC, Axiom Investment Management LLC, Trivant Custom Portfolio Group, LLC.
- 4 recent 13D activist/beneficial-ownership filings — potential catalyst.
- 16 recent 13G passive institutional ownership notices.
Latest 10-K
Feb 26, 2026
Annual report
Latest 10-Q
May 1, 2026
8-K (recent)
10
Insider net
—
0B/0S
13F filers
10k+
Activist 13D
4
Recent 13F institutional filers (SEC EDGAR full-text)
| Filer | Form | Filed |
|---|---|---|
| Oxler Private Wealth LLC | 13F-HR | Nov 15, 2022 |
| Axiom Investment Management LLC | 13F-HR | Feb 14, 2023 |
| Trivant Custom Portfolio Group, LLC | 13F-HR | Apr 21, 2025 |
| Axiom Investment Management LLC | 13F-HR | Aug 15, 2022 |
| SILVER CAPITAL MANAGEMENT LLC | 13F-HR | Nov 15, 2010 |
Recent 8-K material events
| Date | Form | Description |
|---|---|---|
| May 26, 2026 | 8-K | 8-K |
| Apr 23, 2026 | 8-K | 8-K |
| Mar 24, 2026 | 8-K | 8-K |
| Feb 12, 2026 | 8-K | 8-K |
| Jan 29, 2026 | 8-K | 8-K |
| Jan 12, 2026 | 8-K | 8-K |
| Dec 1, 2025 | 8-K | 8-K |
| Oct 29, 2025 | 8-K | 8-K |
Free previewSEC Filing Analyst
SEC Filing Deep-Analysis
SEC Filing Analyst
score -58Deteriorating
70% conf
4 risk signal(s), 2 positive signal(s), 1 watch item(s) detected from XBRL filing diff analysis. "Material weakness in internal controls" combined with earnings-cash flow divergence is especially concerning — it suggests the reported earnings may not be reliable due to control deficiencies, and the cash flow shortfall may be masking underlying issues.
- Earnings-cash flow divergence: Net income grew +350.8% while operating cash flow declined -8.2%. This divergence may indicate accrual-based earnings inflation — non-cash gains, aggressive revenue recognition, or working capital absorption. The accrual ratio (NI − OCF) is deteriorating.
- NEW: Going concern doubt in latest filing: The term "going concern" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 5 filing(s).
- Material weakness in internal controls: The term "material weakness" appears in 25 recent filing(s) (vs 2 in the prior period). This risk language is ongoing.
- NEW: Restatement of financial statements in latest filing: The term "restate" "financial statements" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 18 filing(s).
- Operating cash flow exceeds net income: OCF is 1.40x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- Gross margin expansion: Gross margin expanded +2.2%pp (from 13.0% to 15.2%), indicating improved pricing power, cost efficiency, or favorable product mix.
- Endogenous analysis: "Material weakness in internal controls" combined with earnings-cash flow divergence is especially concerning — it suggests the reported earnings may not be reliable due to control deficiencies, and the cash flow shortfall may be masking underlying issues.
- 7 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 2 new risk-language term(s) detected in filing text: Going concern doubt, Restatement of financial statements.
- Ongoing high-severity risk language: Material weakness in internal controls.
Revenue
$16.96B
+0.4% YoY
Gross profit
$2.58B
+17.6% YoY
Operating income
$6.86B
-18.3% YoY
Net income
$6.00B
+350.8% YoY
Operating cash flow
$8.41B
-8.2% YoY
Capex
$1.48B
-34.1% YoY
Total assets
$98.73B
+1.6% YoY
Long-term debt
$31.07B
-10.5% YoY
Filing quality score
80/100
7 new disclosures
SEC XBRL metric changes (latest annual vs prior)
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $16.89B | $16.96B | $75.4M | +0.4% |
| Gross profit | $2.19B | $2.58B | $387.0M | +17.6% |
| Operating income | $8.39B | $6.86B | $-1.53B | -18.3% |
| Net income | $1.33B | $6.00B | $4.67B | +350.8% |
| Operating cash flow | $9.15B | $8.41B | $-748.0M | -8.2% |
| Capex | $2.24B | $1.48B | $-764.0M | -34.1% |
| Total assets | $97.15B | $98.73B | $1.57B | +1.6% |
| Long-term debt | $34.73B | $31.07B | $-3.65B | -10.5% |
| Cash & equivalents | $8.08B | $4.01B | $-4.07B | -50.4% |
| Stockholders equity | $46.73B | $49.58B | $2.85B | +6.1% |
| Inventory | $5.09B | $4.98B | $-110.0M | -2.2% |
| Accounts receivable | $8.22B | $8.19B | $-30.0M | -0.4% |
| R&D expense | $1.47B | $1.34B | $-134.0M | -9.1% |
| SG&A expense | $8.99B | $8.45B | $-548.0M | -6.1% |
| Interest expense | $553.0M | $536.0M | $-17.0M | -3.1% |
XBRL disclosure changes (new vs dropped concepts)
| Type | Concepts |
|---|---|
| Added | DerivativeAssets, DerivativeLiabilities, EffectiveIncomeTaxRateReconciliationCrossBorderTaxEffectAmount, EffectiveIncomeTaxRateReconciliationCrossBorderTaxEffectPercent, EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential, EffectiveIncomeTaxRateReconciliationOtherAdjustments, EffectiveIncomeTaxRateReconciliationTaxCredits |
| Removed | AccrualForEnvironmentalLossContingencies, AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment, AlternativeInvestment, CommonStockCapitalSharesReservedForFutureIssuance, CurrentFederalTaxExpenseBenefit, CurrentForeignTaxExpenseBenefit, CurrentIncomeTaxExpenseBenefit, CurrentStateAndLocalTaxExpenseBenefit, DeferredFederalIncomeTaxExpenseBenefit, DeferredForeignIncomeTaxExpenseBenefit |
Risk language in filing text (EDGAR full-text search)
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Going concern doubt | high | 5 | 0 | NEW |
| Material weakness in internal controls | high | 25 | 2 | Ongoing |
| Restatement of financial statements | high | 18 | 0 | NEW |
| Impairment charge | medium | 35 | 2 | Ongoing |
| Restructuring | medium | 155 | 9 | Ongoing |
| Off-balance sheet arrangements | medium | 41 | 2 | Ongoing |
| Related party transactions | low | 2 | 0 | NEW |
Filing signal breakdown
Red flags: 4
Positive: 2
Watch: 1
Red flags
Positive
Watch
Unlock the rest
- ProValuationMarket cap $194.52B at $523.44 per share.
- ProPrice & TechnicalsPrice $523.44 — downtrend (below 200-DMA); 1-month momentum positive.
- ProMacro & RatesMarket regime: Risk-on · Supportive.
- ProRisk ScorecardComposite risk: Moderate.
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3 sections free · 4 Pro sections locked · composite -18
Macro exposure
Defensive · Low sensitivityMacro regime: Risk-on · Supportive. Thermo Fisher Scientific is a defensive name (low macro sensitivity) — a supportive backdrop, though defensives lag risk-on tapes.
Macro regime
Risk-on · Supportive
Yield curve
Normal
VIX
16.59
Fed funds
3.63%
CPI YoY
+4.2%
Analytical read
deterministic previewLatest annual report (10-K) filed Feb 26, 2026..
Risk
Moderate
Macro regime
Risk-on · Supportive
Macro exposure
Neutral
Descriptive analytics from public filings and macro data — not investment advice.
Peer comparison
Defensive groupHow TMO stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| Bristol-Myers Squibb BMY | 12 | Neutral |
| Cigna Group CI | 9 | Neutral |
| Procter & Gamble PG | 9 | Neutral |
| UnitedHealth Group UNH | 6 | Neutral |
| CVS Health Corp. CVS | 6 | Neutral |
| Zoetis Inc. ZTS | 3 | Neutral |
| Eli Lilly & Co. LLY | 3 | Neutral |
| Colgate-Palmolive CL | 1 | Neutral |
| Coca-Cola Co. KO | 1 | Neutral |
| Gilead Sciences GILD | 1 | Neutral |
| Intuitive Surgical Inc. ISRG | -1 | Neutral |
| Moderna Inc. MRNA | -4 | Neutral |
| Regeneron Pharmaceuticals REGN | -4 | Neutral |
| DexCom Inc. DXCM | -7 | Neutral |
| AbbVie Inc. ABBV | -7 | Neutral |
| Johnson & Johnson JNJ | -7 | Neutral |
| Vertex Pharmaceuticals VRTX | -8 | Neutral |
| Kimberly-Clark Corp. KMB | -10 | Neutral |
| Sysco Corp. SYY | -10 | Neutral |
| Danaher Corp. DHR | -11 | Neutral |
| Mondelez International MDLZ | -11 | Neutral |
| Merck & Co. MRK | -11 | Neutral |
| Biogen Inc. BIIB | -11 | Neutral |
| Amgen Inc. AMGN | -14 | Neutral |
| HCA Healthcare HCA | -14 | Neutral |
| Illumina Inc. ILMN | -16 | Neutral |
| Kroger Co. KR | -16 | Neutral |
| Thermo Fisher Scientific TMO● you | -18 | Neutral |
| Costco Wholesale COST | -18 | Neutral |
| PepsiCo Inc. PEP | -21 | Neutral |
| Walmart Inc. WMT | -25 | Neutral |
| Hershey Co. HSY | -26 | Neutral |
| Abbott Laboratories ABT | -30 | Neutral |
| Pfizer Inc. PFE | -49 | Neutral |