Thermo Fisher Scientific Inc. (TMO)
NYSE: TMO · Real-Time Price · USD
697.00
-12.18 (-1.72%)
At close: Oct 30, 2026, 4:00 PM EDT
695.14
-1.86 (-0.27%)
After-hours: Oct 30, 2026, 7:46 PM EDT
Thermo Fisher Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 26, 2026 | 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 |
Net Income | 7,072 | 6,704 | 6,335 | 5,995 | 6,950 | 7,725 |
Depreciation & Amortization | 3,105 | 2,780 | 3,108 | 3,406 | 3,381 | 2,592 |
Stock-Based Compensation | 310 | 310 | 301 | 278 | 307 | 230 |
Other Operating Activities | -30 | -168 | -698 | -736 | -435 | 313 |
Change in Accounts Receivable | -801 | -801 | -333 | 209 | -784 | 17 |
Change in Inventory | -74 | -74 | -27 | 598 | -825 | -1,065 |
Change in Accounts Payable | 421 | 421 | 212 | -500 | 648 | 479 |
Change in Other Net Operating Assets | -679 | -1,354 | -231 | -844 | -88 | -979 |
Operating Cash Flow | 9,324 | 7,818 | 8,667 | 8,406 | 9,154 | 9,312 |
Operating Cash Flow Growth | 21.87% | -9.80% | 3.10% | -8.17% | -1.70% | 12.34% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 26, 2026 | 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 |
Capital Expenditures | -1,728 | -1,525 | -1,400 | -1,479 | -2,243 | -2,523 |
Sale of Property, Plant & Equipment | 41 | 44 | 57 | 87 | 24 | 20 |
Cash Acquisitions | -8,877 | -4,037 | -3,132 | -3,660 | -39 | -19,395 |
Divestitures | 1,021 | - | - | - | - | - |
Investment in Securities | 864 | 1,182 | -1,626 | -193 | 64 | - |
Other Investing Activities | 696 | 289 | 260 | 103 | 35 | -34 |
Investing Cash Flow | -7,983 | -4,047 | -5,841 | -5,142 | -2,159 | -21,932 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 26, 2026 | 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 |
Short-Term Debt Issued | - | 1,095 | - | 1,620 | 1,526 | 2,512 |
Long-Term Debt Issued | - | 7,759 | 1,204 | 5,942 | 3,193 | 18,137 |
Total Debt Issued | 10,546 | 8,854 | 1,204 | 7,562 | 4,719 | 20,649 |
Short-Term Debt Repaid | - | -1,095 | - | -1,935 | -3,690 | - |
Long-Term Debt Repaid | - | -2,412 | -3,607 | -5,782 | -375 | -11,738 |
Total Debt Repaid | -4,193 | -3,507 | -3,607 | -7,717 | -4,065 | -11,738 |
Net Debt Issued (Repaid) | 6,353 | 5,347 | -2,403 | -155 | 654 | 8,911 |
Repurchase of Common Stock | -4,037 | -3,000 | -4,000 | -3,000 | -3,000 | -2,000 |
Common Dividends Paid | -673 | -636 | -583 | -523 | -455 | -395 |
Other Financing Activities | 342 | 90 | 194 | 56 | -9 | 65 |
Financing Cash Flow | 1,985 | 1,801 | -6,792 | -3,622 | -2,810 | 6,581 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 26, 2026 | 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 |
Foreign Exchange Rate Adjustments | 158 | 267 | -91 | -82 | -139 | 194 |
Net Cash Flow | 3,484 | 5,839 | -4,057 | -440 | 4,046 | -5,845 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 26, 2026 | 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 |
Free Cash Flow | 7,596 | 6,293 | 7,267 | 6,927 | 6,911 | 6,789 |
Free Cash Flow Growth | 24.30% | -13.40% | 4.91% | 0.23% | 1.80% | -0.38% |
Free Cash Flow Margin | 16.04% | 14.12% | 16.95% | 16.16% | 15.39% | 17.31% |
Free Cash Flow Per Share | 20.34 | 16.65 | 18.97 | 17.85 | 17.54 | 17.10 |
Levered Free Cash Flow | 6,447 | 4,391 | 6,629 | 5,099 | 5,798 | 5,584 |
Unlevered Free Cash Flow | 7,408 | 5,278 | 7,497 | 5,958 | 6,252 | 5,919 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 26, 2026 | 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 |
Cash Interest Paid | 1,612 | 1,612 | 1,570 | 1,385 | 667 | 555 |
Cash Income Tax Paid | 1,776 | 1,776 | 1,834 | 1,482 | 1,234 | 2,182 |
Change in Working Capital | -1,133 | -1,808 | -379 | -537 | -1,049 | -1,548 |