Income StatementBalance SheetCash FlowSegments
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Thermo Fisher Scientific Cash Flow Statement

Operating, investing, and financing cash movements

Thermo Fisher Scientific generated $8.3B in operating cash flow over the trailing twelve months. After $1.5B in capital expenditures, free cash flow was $6.7B. Free cash flow increased 0.0% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$8.3BNet Cash From Investing (TTM)-$4.9BNet Cash From Financing (TTM)$3.0BCapital Expenditures (TTM)$1.5BDepreciation And Amortization Cf (TTM)$1.1BNet Change In Cash (TTM)-$892.0M
Latest FilingQ1 2026
Report Date2026-05-01
Market Cap$166.59B
P/E Ratio24.33
ROE13.52%

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other non-cash income (expense)-$254.0M-$135.0M-$63.0M-$117.0M-$140.0M-$88.0M
Deferred income taxes-$202.0M-$279.0M-$322.0M-$127.0M—-$258.0M
Other Non-Cash Income (Expense)-$254.0M-$135.0M-$63.0M-$117.0M-$140.0M-$88.0M
Other Non-cash Income (Expense)-$254.0M-$135.0M-$63.0M-$117.0M-$140.0M-$88.0M
Other Non-cash Income (Expense)-$254.0M-$135.0M-$63.0M-$117.0M-$140.0M-$88.0M
Net cash from operating activities$3.3B$723.0M$1.4B$2.2B$3.5B$1.2B
Net income$1.8B$1.5B$1.6B$1.6B$2.0B$1.7B
Other non-cash income (expense)-$254.0M-$135.0M-$63.0M-$117.0M-$140.0M-$88.0M
Amortization of capitalized software and acquired intangible assets$438.0M$429.0M$430.0M$435.0M$436.0M$430.0M
Increase Decrease In Operating Capital Excluding Deferred Taxes—$1.4B$726.0M$104.0M—$1.1B
Other Noncash Income (Expense)-$254.0M-$135.0M-$63.0M-$117.0M-$140.0M-$88.0M
Other Non-cash Income and Expense-$254.0M-$135.0M-$63.0M-$117.0M-$140.0M-$88.0M
Other Non-Cash Adjustments-$254.0M-$135.0M-$63.0M-$117.0M-$140.0M-$88.0M
Other Non-Cash Income and Expense-$254.0M-$135.0M-$63.0M-$117.0M-$140.0M-$88.0M
Stock-based compensation$79.0M$75.0M$81.0M$70.0M$84.0M$83.0M
Change in Contract Assets and Liabilities, Net$40.5M$93.8M$93.8M$93.8M$93.8M—

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$0.0$0.0———$8.9B
Capital expenditures$480.0M$362.0M$294.0M$404.0M$465.0M$376.0M
Payment for (Proceeds from) Other Investing Activity-$3.0M$1.0M-$7.0M-$14.0M-$1.0M$55.0M
Proceeds from disposition of marketable securities and other investments$1.8B$2.0M——$1.3B$250.0M
Proceeds from disposals of property, plant and equipment$17.0M$12.0M$1.0M$4.0M$27.0M$9.0M
Net cash from investing activities$0.0-$527.0M-$288.0M-$4.1B—-$9.0B
Purchases of investments$1.3B$264.0M$47.0M$40.0M$32.0M$14.0M
Proceeds from Cross-Currency Swap Interest Settlements$49.0M$87.0M$47.0M$84.0M$50.0M$96.0M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from commercial paper notes$0.0$0.0———$389.0M
Proceeds from Commercial Paper$0.0$0.0———$389.0M
Proceeds from issuance of debt—$2.8B——$4.9B$5.2B
Repayments of debt$2.5B$838.0M$787.0M$0.0$787.0M$1.4B
Dividends paid$149.0M$149.0M$162.0M$163.0M$162.0M$162.0M
Proceeds from Issuance of Commercial Paper$0.0$0.0———$389.0M
Other, net$0.0$45.0M—-$4.0M$91.0M$39.0M
Payment of Deferred Purchase Consideration$0.0$45.0M—-$4.0M$91.0M$39.0M
Noncontrolling interest transactions and other$0.0$45.0M—-$4.0M$91.0M$39.0M
Net cash from financing activities-$3.7B-$102.0M-$991.0M-$632.0M$3.5B$1.1B
Noncontrolling Interests Activity and Other$0.0$45.0M—-$4.0M$91.0M$39.0M
Repurchases of common stock$1.0B$2.0B$0.0$963.0M$37.0M$3.0B

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$2.8B$361.0M$1.1B$1.8B$3.0B$816.0M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$273.0M$37.0M$311.0M——$78.0M
Net increase (decrease) in cash-$630.0M$132.0M$431.0M-$2.6B$7.9B-$6.6B