--- title: "Thermo Fisher Scientific: Metrics Guide" description: "Thermo Fisher Scientific revenue, margins, cash flow and balance sheet figures by fiscal year, taken from its SEC filings, with the ratios explained." canonical: https://www.getswoopr.com/stocks/companies/thermo-fisher-scientific/metrics/ source: "Swoopr Investment: https://www.getswoopr.com" --- # Thermo Fisher Scientific: Financial & Operating Metrics Guide ## Direct Answer Thermo Fisher Scientific reported revenue of $44.6 billion for the fiscal year ended December 31, 2025, with an operating margin of 17.4% and net income of $6.7 billion, according to its SEC filings. Revenue grew 3.9% from the prior year. ## What Are Thermo Fisher Scientific's Key Financial Figures? | Fiscal year | FY2025ended December 31, 2025 | FY2024ended December 31, 2024 | FY2023ended December 31, 2023 | FY2022ended December 31, 2022 | | --- | --- | --- | --- | --- | | Revenue | $44.6 billion | $42.9 billion | $42.9 billion | $44.9 billion | | Operating income | $7.7 billion | $7.3 billion | $6.9 billion | $8.4 billion | | Operating margin | 17.4% | 17.1% | 16.0% | 18.7% | | Net income | $6.7 billion | $6.3 billion | $6.0 billion | $7.0 billion | | Net margin | 15.1% | 14.8% | 13.9% | 15.5% | | Operating cash flow | $7.8 billion | $8.7 billion | $8.4 billion | $9.2 billion | | Capital expenditures | $1.5 billion | $1.4 billion | $1.5 billion | $2.2 billion | | Free cash flow | $6.3 billion | $7.3 billion | $6.9 billion | $6.9 billion | Operating margin held roughly steady between fiscal 2024 and 2025, which separates pricing and cost discipline from revenue growth alone. Free cash flow (operating cash flow minus capital expenditures) was $6.3 billion against net income of $6.7 billion; cash generation fell short of reported earnings, which is worth reconciling in the cash flow statement. ![Bar chart of Thermo Fisher Scientific revenue, operating income, net income for fiscal 2022 to 2025. In fiscal 2025, revenue was $44.6 billion, operating income $7.7 billion and net income $6.7 billion.](https://www.getswoopr.com/images/charts/thermo-fisher-scientific-metrics-revenue-profit.webp) *Thermo Fisher Scientific revenue, operating income and net income by fiscal year, from the figures in the table above. Select the chart to open it full size.* ![Line chart of Thermo Fisher Scientific operating margin and net margin for fiscal 2022 to 2025. In fiscal 2025, operating margin was 17.4% and net margin was 15.1%.](https://www.getswoopr.com/images/charts/thermo-fisher-scientific-metrics-margins.webp) *Thermo Fisher Scientific operating margin and net margin by fiscal year: operating income and net income as a share of revenue. Select the chart to open it full size.* ![Bar chart of Thermo Fisher Scientific operating cash flow, capital expenditures, free cash flow for fiscal 2022 to 2025. In fiscal 2025, operating cash flow was $7.8 billion, capital expenditures was $1.5 billion, free cash flow was $6.3 billion.](https://www.getswoopr.com/images/charts/thermo-fisher-scientific-metrics-cash-flow.webp) *Thermo Fisher Scientific operating cash flow, capital expenditures and free cash flow by fiscal year. Select the chart to open it full size.* ## What Does Thermo Fisher Scientific's Balance Sheet Show? | Cash and cash equivalents | $9.9 billion | | --- | --- | | Long-term debt | $39.2 billion | | Total assets | $110 billion | | Total liabilities | Not reported | | Shareholders' equity | $53.4 billion | | Current ratio | 1.9x | Balance sheet values are as of the end of fiscal 2025. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions. ## Where These Numbers Come From Every figure on this page is a value Thermo Fisher Scientific reported in its own SEC filings, read from the SEC's XBRL data (accession 0000097745-26-000018 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 7, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary. Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation. ## Frequently Asked Questions ### What was Thermo Fisher Scientific's revenue in fiscal 2025? Thermo Fisher Scientific reported revenue of $44.6 billion for the fiscal year ended December 31, 2025, according to its SEC filings. ### What is Thermo Fisher Scientific's operating margin? Thermo Fisher Scientific's operating margin was 17.4% in fiscal 2025: operating income of $7.7 billion on revenue of $44.6 billion. ### How much free cash flow did Thermo Fisher Scientific generate? Operating cash flow of $7.8 billion less capital expenditures of $1.5 billion gives free cash flow of $6.3 billion for fiscal 2025. ## References - [SEC EDGAR: THERMO FISHER SCIENTIFIC INC. Form 10-K filed February 26, 2026](https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm) - [SEC EDGAR: THERMO FISHER SCIENTIFIC INC. annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=97745&type=10-K) - [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces) ## Related Pages - [Thermo Fisher Scientific company dossier](https://www.getswoopr.com/stocks/companies/thermo-fisher-scientific/) - [Thermo Fisher Scientific financial metrics](https://www.getswoopr.com/stocks/companies/thermo-fisher-scientific/metrics/) - [Thermo Fisher Scientific financial risk indicators](https://www.getswoopr.com/stocks/companies/thermo-fisher-scientific/risks/) - [Thermo Fisher Scientific peer comparison](https://www.getswoopr.com/stocks/companies/thermo-fisher-scientific/competitors/) - [Thermo Fisher Scientific business model and revenue mix](https://www.getswoopr.com/stocks/companies/thermo-fisher-scientific/business-model/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. 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