Thermo Fisher Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	44,556	42,879	42,857	44,915	39,211
Revenue Growth (YoY)	3.91%	0.05%	-4.58%	14.55%	21.70%
Cost of Revenue	26,318	25,177	25,757	25,944	19,573
Gross Profit	18,238	17,702	17,100	18,971	19,638
Selling, General & Admin	8,732	8,595	8,445	8,993	8,007
Research & Development	1,397	1,390	1,337	1,471	1,406
Other Operating Expenses	362	379	459	114	197
Total Operating Expenses	10,491	10,364	10,241	10,578	9,610
Operating Income	7,746	7,337	6,859	8,393	10,028
Interest Income	952	1,036	820	100	39
Interest Expense	-1,419	-1,390	-1,375	-726	-536
Other Non-Operating Income (Expense)	-12	12	-65	-104	-694
Total Non-Operating Income (Expense)	-479	-342	-620	-730	-1,191
Pretax Income	7,267	6,995	6,239	7,663	8,837
Provision for Income Taxes	547	657	284	703	1,109
Net Income	6,704	6,335	5,995	6,950	7,725
Minority Interest in Earnings	17	3	-40	10	3
Net Income to Common	6,704	6,335	5,995	6,950	7,725
Net Income Growth	5.83%	5.67%	-13.74%	-10.03%	21.18%
Shares Outstanding (Basic)	377	382	386	392	394
Shares Outstanding (Diluted)	378	383	388	394	397
Shares Change (YoY)	-1.31%	-1.29%	-1.52%	-0.76%	-0.50%
EPS (Basic)	17.77	16.58	15.52	17.75	19.62
EPS (Diluted)	17.74	16.53	15.45	17.63	19.46
EPS Growth	7.32%	6.99%	-12.37%	-9.40%	21.93%
Free Cash Flow	6,293	7,267	6,927	6,911	6,789
Free Cash Flow Growth	-13.40%	4.91%	0.23%	1.80%	-0.38%
Free Cash Flow Per Share	16.65	18.97	17.85	17.54	17.10
Dividends Per Share	1.720	1.560	1.400	1.200	1.040
Dividend Growth	10.26%	11.43%	16.67%	15.38%	18.18%
Gross Margin	40.93%	41.28%	39.90%	42.24%	50.08%
Operating Margin	17.38%	17.11%	16.00%	18.69%	25.57%
Profit Margin	15.08%	14.78%	13.90%	15.50%	19.71%
FCF Margin	14.12%	16.95%	16.16%	15.39%	17.31%
EBITDA	10,526	10,445	10,265	11,774	12,620
EBITDA Margin	23.62%	24.36%	23.95%	26.21%	32.18%
EBIT	7,746	7,337	6,859	8,393	10,028
EBIT Margin	17.38%	17.11%	16.00%	18.69%	25.57%
Effective Tax Rate	7.53%	9.39%	4.55%	9.17%	12.55%

Updated Jan 29, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

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