Income StatementBalance SheetCash FlowSegments
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Thermo Fisher Scientific Income Statement

Revenue, expenses, and profitability over time

Thermo Fisher Scientific generated $43.4B in trailing twelve-month revenue, up 0.0% year-over-year. Net income was $6.8B with a 15.79% net margin. Diluted EPS is $18.19, which grew 0.1% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$42.9BOperating Income (TTM)$7.4BNet Income (TTM)$6.8BEps Diluted (TTM)$18.19
Latest FilingQ1 2026
Report Date2026-05-01
Market Cap$164.26B
P/E Ratio23.99
ROE13.52%

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Unrecognized Tax Benefits Current Period Increases—————$1.0M
Effective Tax Rate, Continuing Operations—0.06———0.04
Income Tax at U.S. Statutory Rate—$340.0M———$364.0M
State and Local Income Taxes, Net—$14.0M———$21.0M
Tax Reconciliation: Other Adjustments—-0.08———-0.10
Tax Reconciliation, Enacted Tax Rate Change—0.00———0.00
Tax Reconciliation, Tax Credits—0.03———0.03
Income tax expense$341.0M$95.0M———$70.0M
Foreign Rate Differential—-$43.0M———-$150.0M
Tax Reconciliation: Enacted Rate Change—$2.0M———$0.0
Tax Reconciliation: Nondeductible Expenses—-$8.0M———$0.0
Tax Reconciliation: Tax Credits—$45.0M———$46.0M
Change in Tax Valuation Allowance—-$28.0M———$0.0

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Common Stock Issued for Business Acquisition—$65.0M———$62.0M
OCI Foreign Currency Gain (Loss) Arising During Period, Net of Tax—$360.0M———-$58.0M
OCI Foreign Currency Translation Gain (Loss), Tax—-$207.0M———$27.0M
OCI Pension and Postretirement Adjustment Before Reclassification, Net of Tax—$3.0M———-$2.0M
OCI Pension and Postretirement Before Reclassification, Tax—$1.0M———-$1.0M
OCI Reclassification Adjustment, Pension and Postretirement, Net of Tax—$1.0M———$1.0M
OCI Reclassification Adjustment, Pension and Postretirement, Tax—$0.0———$0.0
Tax effect of unrealized gain (loss) on cash flow hedges—$0.0———$0.0
Share-based compensation expense related to employee stock plans—$75.0M———$83.0M
Stock options excluded as their inclusion would be anti-dilutive (in shares)—3M———3M
Capital investments accrued but not yet paid—$173.0M———$206.0M
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation—$132.0M———-$6.6B
Comprehensive Income (Loss), Net of Tax, Attributable to Parent—$1.9B———$1.6B
Less: comprehensive income attributable to noncontrolling interest—$8.0M———-$1.0M
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest—$1.9B———$1.6B
Deferred taxes—-$279.0M———-$258.0M
Depreciation—$276.0M———$306.0M
Dividends, Common Stock, Cash—$163.0M———$175.0M
Effect of currency exchange rate changes on cash, cash equivalents, and restricted cash—$37.0M———$78.0M
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent—-0.02———0.00
Effect of cross-border tax laws—$19.0M———$59.0M
Effect of cross-border tax laws—0.01———0.03
Foreign operations—-0.03———-0.09
Nontaxable or nondeductible items—-0.01———0.00
Changes in unrecognized tax benefits—-0.02———0.00
Impairment Of Long Lived Assets Held For Use—————$14.0M
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount—-$128.0M———-$179.0M
Changes in unrecognized tax benefits—-$28.0M———$1.0M
Increase Decrease In Operating Capital Excluding Deferred Taxes—$1.4B———$1.1B
Add - Incremental shares under stock-based compensation plans (in shares)—1M———1M
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders—$1.0M———$1.0M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation—-$102.0M———$1.1B
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation—-$527.0M———-$9.0B
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation—$723.0M———$1.2B
Net Income Loss Attributable To Redeemable Noncontrolling Interest—$5.0M———$4.0M
Net loss—$1.5B———$1.7B
Number of reportable segments—————4.00
Other comprehensive items—$355.0M———-$49.0M
Other Comprehensive Income (Loss), Net of Tax Including Portion Attributable to Redeemable and NonRedeemable Noncontrolling Interest—$358.0M———-$55.0M
Other income, net (Note 6)—$3.0M———-$9.0M
Payment for (Proceeds from) Other Investing Activity—$1.0M———$55.0M
Payments for Repurchase of Common Stock—$2.0B———$3.0B
Payments for Restructuring—————$37.0M
Payments of Ordinary Dividends, Common Stock—$149.0M———$162.0M
Payments to Acquire Businesses, Net of Cash Acquired—$0.0———$8.9B
Payments to Acquire Investments—$264.0M———$14.0M
Payments to Acquire Property, Plant, and Equipment—$362.0M———$376.0M
Proceeds from Issuance of Commercial Paper—$0.0———$389.0M
Debt issued (Note 13)—$2.8B———$5.2B
Proceeds from cross-currency interest rate swap interest settlements—$87.0M———$96.0M
Financing — other—$45.0M———$39.0M
Proceeds from disposition of marketable securities and other investments—$2.0M———$250.0M
Dispositions of property, plant, and equipment—$12.0M———$9.0M
Repayments of Long-Term Debt—$838.0M———$1.4B
Foreign exchange and other—————-$2.0M
Share Repurchase Program, Excise Tax—$18.0M———$28.0M
Other – net—$3.0M———-$6.0M
Treasury stock, value, acquired—$2.0B———$3.0B
Cash Flow Hedge Reclassification, After Tax—-$1.0M———-$1.0M

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Revenue Recognized from Contract Liability—$1.4B———$1.3B
Total revenue$11.4B$10.4B———$11.0B

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Amortization expense—$429.0M———$430.0M
Stock-based compensation expense—$50.0M———$44.0M
Stock-based compensation expense—$75.0M———$83.0M
Research and development$374.0M$342.0M———$336.0M
Restructuring charges—————$34.0M
Selling, general and administrative$2.2B$2.1B———$2.2B
Restructuring and Other Costs$253.0M$90.5M$90.5M$90.5M$90.5M$15.0M
Workforce Reduction Charges—————0.01
Total operating expenses$9.4B$8.6B———$9.1B

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other non-cash income (expense)—-$135.0M———-$88.0M
Income from equity method investments—-$14.0M———-$8.0M
Gains (losses) on equity investments—$2.0M———-$1.0M
Interest expense$317.0M$303.0M———$354.0M
Interest income$227.0M$203.0M———$233.0M

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$4.80$3.99$4.28$4.28$5.22$4.44
Diluted earnings per share$4.78$3.98$4.28$4.27$5.21$4.43
Dividends Per Share Declared—$0.43———$0.47
Weighted-average shares, basic—378M378M378M—372M
Weighted-average shares, diluted379M379M378M378M—373M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$1.9B$1.6B———$1.7B

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income attributable to noncontrolling interests—$4.0M———$5.0M
Net income$1.8B$1.5B$1.6B$1.6B$2.0B$1.7B

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Operating income$2.0B$1.7B———$1.9B