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Thermo Fisher Scientific TMO Instruments — Consolidated revenues

Other product segments

Service revenues
$4.73B+7.8%
Consumables
$4.72B+8.5%

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Other financials

Income statement

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Revenue$12.0B
Operating income$2.1B
Net income$1.7B+7.4%
EPS (diluted)$4.68+9.3%

Balance sheet

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Cash & equivalents$4.1B-11.7%
Total debt$39.2B+4.6%
Total equity$52.7B+4.3%
Total assets$113.17B+11.8%

Cash flow

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Operating cash flow$2.1B+51.9%
CapEx-$1.2B-509%
Free cash flow$923.0M-16.5%

Valuation

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Market cap$213.42B+21.1%
Enterprise value$248.54B+18.9%
P/E30.6×+3.9×
P/S4.8×-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

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Return on equity13.5%+0.1pp
Debt / equity0.7×0.0×
Current ratio1.6×-0.4×

Where this comes from

Reported directly by Thermo Fisher Scientific in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Thermo Fisher Scientific’s 10-Q, filed May 1, 2026.

Filed
May 1, 2026, 11:00 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000097745-26-000092
(In millions)Three months ended / March 28, 2026March 29, 2025
Revenues
Consumables$4,722$4,354
Instruments1,5551,626
Services4,7284,384
Consolidated revenues$11,005$10,364

Item 1. Financial Statements (Unaudited)

FAQ

What is Thermo Fisher Scientific's instruments — consolidated revenues?
Thermo Fisher Scientific (TMO) reported instruments — consolidated revenues of $1.56B in Q1 2026.
How has Thermo Fisher Scientific's instruments — consolidated revenues changed year-over-year?
Thermo Fisher Scientific's instruments — consolidated revenues decreased by 4.4% year-over-year, from $1.63B to $1.56B.
What is the long-term trend for Thermo Fisher Scientific's instruments — consolidated revenues?
Over 4 years (2021 to 2025), Thermo Fisher Scientific's instruments — consolidated revenues has grown at a -1.5% compound annual growth rate (CAGR), from $7.75B to $7.3B.
What does instruments — consolidated revenues mean?
This metric represents the total net sales generated by the business unit focused on scientific instruments and analytical hardware. It captures the revenue stream derived from the sale of long-lived capital equipment used in laboratory, research, and diagnostic settings. This segment serves as a primary indicator of the company's ability to capture market share in high-value hardware deployments.

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