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Thermo Fisher Scientific TMO Product revenues — Cost of revenues

Other product segments

Service revenues
$3.31B+10.3%

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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

See full
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:CostOfGoodsAndServicesSold.

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
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
Research and development expenses336342
Restructuring and other costs4998

Item 1. Financial Statements (Unaudited)

FAQ

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?
This metric captures the direct costs associated with manufacturing, sourcing, and delivering the physical products sold by the company. It includes raw materials, direct labor, and overhead costs directly attributable to the production of scientific instruments and consumables. Monitoring this figure is essential for assessing the efficiency of the supply chain and the underlying production margins of the product portfolio.

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