What is Thermo Fisher Scientific's acquisitions?

Thermo Fisher Scientific (TMO) reported acquisitions of $8.87B in Q1 2026.

What is the long-term trend for Thermo Fisher Scientific's acquisitions?

Over 2 years (2021 to 2024), Thermo Fisher Scientific's acquisitions has grown at a -59.8% compound annual growth rate (CAGR), from $19.4B to $3.13B.

What does acquisitions mean?

Cash paid for business acquisitions net of cash acquired in the target company — the primary M&A cash flow line.

Thermo Fisher Scientific TMO Acquisitions

Acquisitions at other companies

Becton, Dickinson and CompanyBDX

$0+100%

Kewaunee Scientific CorporationKEQU

$0-100%

WAT

Waters CorporationWAT

$144M—

Mettler-Toledo International, Inc.MTD

$2.24M—

Agilent TechnologiesA

$0—

BrukerBRKR

$16M+1,355%

Other financials

Income statement

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Revenue$11.0B+6.2%

Operating income$1.9B+8.6%

Net income$1.7B+9.6%

EPS (diluted)$4.43+11.3%

Balance sheet

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Cash & equivalents$3.3B-21.4%

Total debt$43.2B+16.6%

Total equity$51.9B+5.2%

Total assets$113.28B+14.4%

Cash flow

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Operating cash flow$1.2B+64.9%

CapEx$376.0M+3.9%

Free cash flow$816.0M+126%

Valuation

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Market cap$186.32B+19.8%

Enterprise value$226.2B+20.1%

P/E27.2×+3.6×

P/S4.3×-0.8×

Profitability

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Gross margin58.3%—

Operating margin17.2%+0.8pp

Net margin15.2%+1.0pp

FCF margin15.7%-2.1pp

Returns & leverage

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Return on equity13.5%-0.2pp

Debt / equity0.8×+0.1×

Current ratio1.5×-0.2×

Where this comes from

Reported directly by Thermo Fisher Scientific in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired.

The official record: Thermo Fisher Scientific’s 10-Q, filed May 1, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Thermo Fisher Scientific's acquisitions?: Thermo Fisher Scientific (TMO) reported acquisitions of $8.87B in Q1 2026.
What is the long-term trend for Thermo Fisher Scientific's acquisitions?: Over 2 years (2021 to 2024), Thermo Fisher Scientific's acquisitions has grown at a -59.8% compound annual growth rate (CAGR), from $19.4B to $3.13B.
What does acquisitions mean?: Cash paid for business acquisitions net of cash acquired in the target company — the primary M&A cash flow line.