What is Thermo Fisher Scientific's product revenues — cost of revenues?

Thermo Fisher Scientific (TMO) reported product revenues — cost of revenues of $3.26B in Q1 2026.

How has Thermo Fisher Scientific's product revenues — cost of revenues changed year-over-year?

Thermo Fisher Scientific's product revenues — cost of revenues increased by 4.4% year-over-year, from $3.13B to $3.26B.

What is the long-term trend for Thermo Fisher Scientific's product revenues — cost of revenues?

Over 4 years (2021 to 2025), Thermo Fisher Scientific's product revenues — cost of revenues has grown at a 6.9% compound annual growth rate (CAGR), from $10.26B to $13.41B.

What does product revenues — cost of revenues mean?

The total direct costs incurred to manufacture and deliver the physical products sold by the company.

Products & Services · Cost of revenues

Product revenues — Cost of revenues

Thermo Fisher Scientific Product revenues — Cost of revenues decreased by 12.4% to $3.26B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 4.4%, from $3.13B to $3.26B. Over 4 years (FY 2021 to FY 2025), Product revenues — Cost of revenues shows an upward trend with a 6.9% CAGR. This is a positive signal — lower values indicate better performance for this metric.

Analysis

StatementSegment

CategoryProfitability

SignalLower is better

VolatilityStable

First reportedQ1 2016

Last reportedQ1 2026May 1, 2026

Rolls up toTotal Cost of Revenue

How to read this metric

An increase relative to revenue suggests margin compression due to rising input costs or manufacturing inefficiencies, while a decrease relative to revenue suggests improved operational leverage or better supply chain management.

Detailed definition

This metric captures the direct costs associated with manufacturing, sourcing, and delivering the physical products sold...

Peer comparison

Comparable to Cost of Goods Sold (COGS) in manufacturing-heavy industries, this metric is standard for benchmarking production efficiency against other life science equipment manufacturers.

Metric ID: tmo_segment_product_revenues_cost_of_revenues

Historical Data

20 periods

	Q2 '21	Q3 '21	Q4 '21	Q1 '22	Q2 '22	Q3 '22	Q4 '22	Q1 '23	Q2 '23	Q3 '23	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Value	$3.35B	-$33M	$3.62B	$3.56B	$3.52B	$3.49B	$3.68B	$3.34B	$3.28B	$3.21B	$3.34B	$2.94B	$3.08B	$3.17B	$3.33B	$3.13B	$3.24B	$3.32B	$3.72B	$3.26B
QoQ Change	—	-101.0%	>999%	-1.7%	-1.1%	-0.6%	+5.4%	-9.4%	-1.8%	-2.0%	+3.9%	-12.0%	+4.8%	+2.9%	+5.2%	-6.3%	+3.6%	+2.5%	+12.1%	-12.4%
YoY Change	—	—	—	—	+4.9%	>999%	+1.8%	-6.1%	-6.8%	-8.0%	-9.3%	-11.9%	-6.0%	-1.4%	-0.1%	+6.3%	+5.2%	+4.7%	+11.6%	+4.4%

Range-$33M – $3.72B

CAGR-0.6%

Avg YoY Growth+667.3%

Median YoY Growth+0.8%

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Frequently Asked Questions

What is Thermo Fisher Scientific's product revenues — cost of revenues?: Thermo Fisher Scientific (TMO) reported product revenues — cost of revenues of $3.26B in Q1 2026.
How has Thermo Fisher Scientific's product revenues — cost of revenues changed year-over-year?: Thermo Fisher Scientific's product revenues — cost of revenues increased by 4.4% year-over-year, from $3.13B to $3.26B.
What is the long-term trend for Thermo Fisher Scientific's product revenues — cost of revenues?: Over 4 years (2021 to 2025), Thermo Fisher Scientific's product revenues — cost of revenues has grown at a 6.9% compound annual growth rate (CAGR), from $10.26B to $13.41B.
What does product revenues — cost of revenues mean?: The total direct costs incurred to manufacture and deliver the physical products sold by the company.