What is Thermo Fisher Scientific's R&D?

Thermo Fisher Scientific (TMO) reported R&D of $336M in Q1 2026.

How has Thermo Fisher Scientific's R&D changed year-over-year?

Thermo Fisher Scientific's R&D decreased by 1.8% year-over-year, from $342M to $336M.

What is the long-term trend for Thermo Fisher Scientific's R&D?

Over 3 years (2021 to 2024), Thermo Fisher Scientific's R&D has grown at a -0.4% compound annual growth rate (CAGR), from $1.41B to $1.39B.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Thermo Fisher Scientific TMO R&D

R&D at other companies

Becton, Dickinson and CompanyBDX

$249M+7.3%

Bio-Rad LaboratoriesBIO

$62.9M-14.4%

RevvityRVTY

$57.89M+8.0%

DanaherDHR

$387M+2.1%

BioLife SolutionsBLFS

$2.65M+84.2%

TEC

Bio-TechneTECH

$23.46M-4.6%

Segments

By segment

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Analytical Instruments$139M+1.5%

Life Sciences Solutions$131M-5.8%

Specialty Diagnostics$44M-2.2%

Laboratory Products and Biopharma Services$15M+15.4%

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$190.65B+24.9%

Enterprise value$230.53B+24.3%

P/E27.8×+4.7×

P/S4.4×-0.9×

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

See full

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:ResearchAndDevelopmentExpense.

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 R&D?: Thermo Fisher Scientific (TMO) reported R&D of $336M in Q1 2026.
How has Thermo Fisher Scientific's R&D changed year-over-year?: Thermo Fisher Scientific's R&D decreased by 1.8% year-over-year, from $342M to $336M.
What is the long-term trend for Thermo Fisher Scientific's R&D?: Over 3 years (2021 to 2024), Thermo Fisher Scientific's R&D has grown at a -0.4% compound annual growth rate (CAGR), from $1.41B to $1.39B.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.