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Thermo Fisher Scientific TMO Product revenues — Consolidated revenues

Other product segments

Service revenues
$4.73B+7.8%
Consumables
$4.72B+8.5%
Instruments
$1.56B-4.4%

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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 except per share amounts)Three months ended / March 28, 2026March 29, 2025
Revenues
Product revenues$6,277$5,980
Service revenues4,7284,384
Total revenues11,00510,364
Costs and operating expenses:
Cost of product revenues3,2613,125
Cost of service revenues3,3143,004
Selling, general and administrative expenses2,1812,078

Item 1. Financial Statements (Unaudited)

FAQ

What is Thermo Fisher Scientific's product revenues — consolidated revenues?
Thermo Fisher Scientific (TMO) reported product revenues — consolidated revenues of $6.28B in Q1 2026.
How has Thermo Fisher Scientific's product revenues — consolidated revenues changed year-over-year?
Thermo Fisher Scientific's product revenues — consolidated revenues increased by 5.0% year-over-year, from $5.98B to $6.28B.
What is the long-term trend for Thermo Fisher Scientific's product revenues — consolidated revenues?
Over 4 years (2021 to 2025), Thermo Fisher Scientific's product revenues — consolidated revenues has grown at a -3.8% compound annual growth rate (CAGR), from $30.36B to $25.97B.
What does product revenues — consolidated revenues mean?
This metric represents the total gross income generated from the sale of physical goods, including scientific instruments, laboratory equipment, and life science reagents. It serves as a primary indicator of market demand for the company's core product portfolio across its diverse scientific segments. By isolating product-based revenue from service-based income, it highlights the company's ability to drive volume in its manufacturing and distribution operations.

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