Income StatementBalance SheetCash FlowSegments
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Thermo Fisher Scientific Business Segments

Business, geographic, and product segment breakdowns

Thermo Fisher Scientific generates $43.4B in annual revenue across 4 key segments: Analytical Instruments ($3.9B), Laboratory Products and Biopharma Services ($19.0B), Life Sciences Solutions ($4.1B), and Specialty Diagnostics ($2.7B). The company-wide operating margin is 17.14%. Based on the Q1 2026 filing.

Analytical Instruments (TTM)$3.9BLaboratory Products and Biopharma Services (TTM)$19.0BLife Sciences Solutions (TTM)$4.1BSpecialty Diagnostics (TTM)$2.7B
Latest FilingQ1 2026
Report Date2026-05-01
Market Cap$166.59B
P/E Ratio24.33
ROE13.52%

Products & Services

Consolidated revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Service revenues$4.6B$4.4B$4.6B$4.6B$5.0B$4.7B
Consumables$4.5B$4.4B$4.6B$4.7B$5.0B$4.7B
Instruments$2.3B$1.6B$1.6B$1.8B$2.2B$1.6B

Cost of revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Service revenues$3.2B$3.0B$3.2B$3.2B$3.5B$3.3B

Geographic

Consolidated revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
North America$5.9B$5.5B$5.7B$5.7B$6.1B$5.7B
Europe$2.9B$2.6B$2.8B$3.0B$3.4B$3.0B
Asia-Pacific$2.2B$1.9B$1.9B$2.0B$2.3B$2.0B
Other regions$439.0M$337.0M$383.0M$415.0M$462.0M$372.0M

Consolidated long-lived assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other$4.6B———$5.5B—

Business Segments

Acquisitions

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Analytical Instruments$0.0$0.0$0.0$0.0$0.0—
Laboratory Products and Biopharma Services$0.0$3.8M$3.8M$3.8M$3.8M—
Life Sciences Solutions$575.5M$525.3M$525.3M$525.3M$525.3M—
Specialty Diagnostics$0.0$0.0$0.0$0.0$0.0—

Consolidated revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Laboratory Products and Biopharma Services$5.9B$5.6B$6.0B$6.0B$6.4B$6.0B
Life Sciences Solutions$2.6B$2.3B$2.5B$2.6B$2.9B$2.6B
Analytical Instruments$2.2B$1.7B$1.7B$1.9B$2.2B$1.7B
Specialty Diagnostics$1.2B$1.1B$1.1B$1.2B$1.2B$1.1B

Cost of revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Laboratory Products and Biopharma Services$4.5B$4.4B$4.7B$4.6B$4.9B$4.8B
Life Sciences Solutions$973.0M$855.0M$926.0M$961.0M$1.2B$1.0B
Analytical Instruments$1.0B$835.0M$903.0M$975.0M$1.1B$876.0M
Specialty Diagnostics$686.0M$679.0M$640.0M$682.0M$717.0M$657.0M

Currency translation

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Analytical Instruments-$23.0M$46.0M$46.0M$46.0M$46.0M—
Laboratory Products and Biopharma Services-$30.5M$111.0M$111.0M$111.0M$111.0M—
Life Sciences Solutions-$29.3M$118.3M$118.3M$118.3M$118.3M—
Specialty Diagnostics-$34.8M$73.0M$73.0M$73.0M$73.0M—

Depreciation of property, plant and equipment

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Laboratory Products and Biopharma Services$187.0M$172.0M$152.0M$115.0M$165.0M$186.0M
Life Sciences Solutions$59.0M$59.0M$56.0M$62.0M$74.0M$70.0M
Analytical Instruments$27.0M$24.0M$26.0M$26.0M$28.0M$26.0M
Specialty Diagnostics$32.0M$22.0M$23.0M$23.0M$23.0M$24.0M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Analytical Instruments$5.0B———$5.1B—
Laboratory Products and Biopharma Services$23.8B———$24.2B—
Life Sciences Solutions$12.3B———$14.9B—
Specialty Diagnostics$4.8B———$5.1B—

Operating Income (Loss)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Life Sciences Solutions$952.0M$834.0M$920.0M$968.0M$1.0B$954.0M
Laboratory Products and Biopharma Services$828.0M$731.0M$826.0M$868.0M$925.0M$778.0M
Analytical Instruments$666.0M$399.0M$325.0M$429.0M$583.0M$355.0M
Specialty Diagnostics$273.0M$304.0M$307.0M$321.0M$324.0M$313.0M

Other segment items

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Laboratory Products and Biopharma Services-$23.0M-$103.0M-$143.0M-$116.0M-$60.0M-$110.0M
Life Sciences Solutions$68.0M$45.0M$52.0M$53.0M$63.0M$50.0M
Specialty Diagnostics-$29.0M-$51.0M-$43.0M-$46.0M-$43.0M-$49.0M
Analytical Instruments$53.0M$33.0M$36.0M$39.0M$43.0M$34.0M

Purchases of property, plant and equipment

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Laboratory Products and Biopharma Services$334.0M$205.0M$205.0M$297.0M$298.0M$259.0M
Analytical Instruments$31.0M$44.0M$13.0M$18.0M$49.0M$36.0M
Specialty Diagnostics$46.0M$33.0M$25.0M$34.0M$36.0M$35.0M
Life Sciences Solutions$45.0M$43.0M$26.0M$32.0M$51.0M$20.0M

Research and development expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Analytical Instruments$146.0M$137.0M$145.0M$144.0M$147.0M$139.0M
Life Sciences Solutions$148.0M$139.0M$133.0M$136.0M$145.0M$131.0M
Specialty Diagnostics$48.0M$45.0M$47.0M$42.0M$44.0M$44.0M
Laboratory Products and Biopharma Services$16.0M$13.0M$14.0M$14.0M$15.0M$15.0M

Restructuring and other costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Laboratory Products and Biopharma Services$70.0M——$39.0M$8.0M$33.0M
Life Sciences Solutions$43.0M——$78.0M$22.0M$9.0M
Analytical Instruments$2.0M——$54.0M$13.0M$4.0M

Segment assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Laboratory Products and Biopharma Services$6.1B$6.5B—$6.8B$6.5B$6.9B
Life Sciences Solutions$3.0B$3.0B—$3.6B$3.4B$3.5B
Analytical Instruments$2.9B$3.0B—$3.2B$3.2B$3.1B
Specialty Diagnostics$1.2B$1.3B—$1.3B$1.3B$1.3B

Selling, general and administrative expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Laboratory Products and Biopharma Services$588.0M$588.0M$603.0M$582.0M$619.0M$597.0M
Life Sciences Solutions$463.0M$468.0M$468.0M$470.0M$506.0M$496.0M
Analytical Instruments$317.0M$313.0M$319.0M$307.0M$305.0M$313.0M
Specialty Diagnostics$179.0M$171.0M$183.0M$175.0M$179.0M$177.0M