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Companies / Health Care / Thermo Fisher Scientific
TMO

Thermo Fisher Scientific

Health CareMedical InstrumentsS&P 500
Ticker TMOWALTHAM, MAFiscal year ends DecemberBook value per share $141.61Diluted shares 372.0M

Thermo Fisher Scientific Inc. (NYSE: TMO) provides products and services for pharmaceutical and biotechnology companies, hospitals, clinical diagnostic laboratories, universities, research institutions, government agencies, and environmental, industrial, research and quality-control settings. Its offerings include… From the company’s description.

In fiscal 2025, Thermo Fisher Scientific reported revenue of $44.56B, up 3.9% from fiscal 2024, and net income of $6.72B. Its operating margin was 17.4%, and operations generated $7.82B in cash. Over the twelve months to Jun 27, 2026, revenue was $46.34B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-27
Sales & profitability
$44.56BFY2025
+3.9% year over year
Last 12 mo $46.34B
17.38%FY2025
+0.3 percentage points
Last 12 mo 17.58%
$6.72BFY2025
+6.0% year over year
Last 12 mo $6.99B
13.18%FY2025
−0.3 percentage points
Last 12 mo 13.23%
Cash & financing
$7.82BFY2025
−9.8% year over year
Last 12 mo $9.01B
$6.29BFY2025
−13.4% year over year
Last 12 mo $7.32B
0.74FY2025
Was 0.63× a year earlier
Last 12 mo 0.81
378.0MFY2025
−1.3% year over year
Last 12 mo 372.0M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Thermo Fisher Scientific does

In the company’s own words

Thermo Fisher Scientific Inc. (NYSE: TMO) provides products and services for pharmaceutical and biotechnology companies, hospitals, clinical diagnostic laboratories, universities, research institutions, government agencies, and environmental, industrial, research and quality-control settings. Its offerings include laboratory and analytical instruments, reagents, consumables, diagnostic tests, software and support, along with drug development, clinical research, clinical trial and commercial manufacturing services. The company reports four segments: Life Sciences Solutions, which supplies research, genetic science and bioproduction tools; Analytical Instruments, covering chromatography and mass spectrometry, chemical analysis and electron microscopy; Specialty Diagnostics, providing diagnostic tests, reagents and laboratory products; and Laboratory Products and Biopharma Services, spanning laboratory supplies, distribution, pharmaceutical services and clinical research. Major brands include Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. Thermo Fisher employed approximately 125,000 people worldwide as of December 31, 2025. Its website is http://www.thermofisher.com.

Company details
Sector
Health Care
Industry (SIC)
Medical Instruments
Headquarters
WALTHAM, MA
Fiscal year end
December
CIK
97745
SIC
3829

Financial performance, year by year

Fiscal 2013–2025 · USD
$-4.63B$9.27B$23.17B$37.07B$50.97B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Thermo Fisher Scientific — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

1.2K
funds hold it
4 of 35
superinvestors hold it
$59.15B
held by funds, at market
32.2%
of shares held by funds
36
bond issues held by funds

Superinvestors in Thermo Fisher Scientific · what they did last quarter

Wallace WeitzDECREASED -4.8%
Weitz Investment Management
4.0%of 13F portfolio
Tom GaynerINCREASED +8.9%
Markel Group (Markel-Gayner)
0.3%of 13F portfolio
Stanley DruckenmillerNEW
Duquesne Family Office
0.2%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · Thermo Fisher Scientific’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.26%of fund net assets
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.29%of fund net assets
iShares Core S&P 500 ETF
IVV · iShares Trust
0.29%of fund net assets
Fidelity 500 Index Fund
FXAIX · Fidelity Concord Street Trust
0.28%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Thermo Fisher Scientific’s bonds, as funds hold them

Funds report holding 36 issues of Thermo Fisher Scientific’s debt, $2.39B at market value — what funds hold, not the company’s total debt. Weighted-average coupon 4.17%, maturing 2026 to 2049.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Thermo Fisher Scientific and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Thermo Fisher Scientific's earnings go — cash, debt, buybacks, reinvestment?”
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