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Thermo Fisher Scientific TMO Free cash flow margin

Free cash flow margin at other companies

Becton, Dickinson and Company logo
Becton, Dickinson and CompanyBDX
16.4%
GLW
CorningGLW
9.2%+1.3pp
Danaher logo
DanaherDHR
21.4%+0.8pp
Idexx Laboratories logo
Idexx LaboratoriesIDXX
24.4%+2.8pp
WAT
Waters CorporationWAT
7%-13.8pp
Mettler-Toledo International, Inc. logo
Mettler-Toledo International, Inc.MTD
19.4%-3.3pp

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+5.1%
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$171.57B-2.7%
Enterprise value$211.45B+0.9%
P/E25.1×-2.0×
P/S-0.8×

Profitability

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Gross margin58.3%
Operating margin17.2%+0.8pp
Net margin15.2%+1.0pp

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

Calculated from Thermo Fisher Scientific’s reported figures.

Based on trailing twelve months.

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 free cash flow margin?
Thermo Fisher Scientific (TMO) reported free cash flow margin of 15.7% in Q1 2025.
How has Thermo Fisher Scientific's free cash flow margin changed year-over-year?
Thermo Fisher Scientific's free cash flow margin decreased by 11.9% year-over-year, from 17.8% to 15.7%.
What is the long-term trend for Thermo Fisher Scientific's free cash flow margin?
Over 3 years (2021 to 2024), Thermo Fisher Scientific's free cash flow margin has grown at a -4.0% compound annual growth rate (CAGR), from 81.3% to 71.9%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.