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THERMO FISHER SCIENTIFIC INC.TMO

Sector
Other
Industry
Measuring & Controlling Devices, NEC
Exchange
NYSE

Stock Price $TMO

Latest filings

You are here#6 of 40 in Healthcare by market cap

Filing record · 2016–202610-K1110-Q328-K151

TMO filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 151 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Jul ’17Jul ’17
  2. Leadership change8-K · Sep ’19Sep ’19
  3. Material agreement8-K · Nov ’21Nov ’21
  4. Material agreement8-K · Oct ’25Oct ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $44.56B
YoY changeLargest recent move+26.1%in FY20Latest +3.9%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All TMO Financial Metrics62 metrics

Income Statement16

Balance Sheet26

Cash Flow15

Per Share5

02—Overview

THERMO FISHER SCIENTIFIC INC. Financial Overview 2021–2025

Updated Jul 10, 2026

Thermo Fisher Scientific successfully replaced a staggering $7.26 billiona pandemic revenue cliff by executing one of the most aggressive acquisition rollups in the life sciences sector. The core investment thesis is clear: the company engineered a massive operational pivot, completely offsetting the collapse of its COVID-19 testing business by buying its way into higher-margin clinical research and bioproduction markets.

This inorganic growth strategy reshaped the top line, as total revenue grew from $39.21 billion in FY2021 to $44.56 billionb in FY2025. Management deployed immense capital to execute this shift, highlighted by the $15.99 billion purchase of PPD, the $3.21 billion takeover of Olink, and a $4.1 billion carve-out of Solventum's filtration unit. Despite absorbing these integrations and navigating macroeconomic softness in academic end-markets, severe cost discipline pushed the adjusted operating income margin to 22.7% by the end of FY2025. The underlying operations remain a powerful cash engine, generating $6.34 billion in free cash flow in FY2025 to fund aggressive capital returns, including $3.0 billion in share repurchases in Q1 2026 alone.

The market has rewarded this margin resilience and steady capital deployment. At the close of FY2025, the stock traded at $579.45c, reflecting institutional confidence in an optimized portfolio that now relies entirely on structural biopharma demand rather than transient health crises.

Recent Developments (Q4 2025 and Q1 2026)

Thermo Fisher accelerated its portfolio transformation in Q1 2026 by acquiring clinical trial data provider Clario Holdings for $9.099 billiond, partially funded by issuing $3.76 billion in senior notes. Management concurrently announced the divestiture of its microbiology unit for $1.075 billion. Operations remained strong, with Q1 2026 revenue rising 6% year-over-year to $11.0 billion and operating income growing 9% to $1.9 billion. Free cash flow doubled to $825 million.

A leadership restructuring took effect in March 2026, elevating Gianluca Pettiti to President and Chief Operating Officer. Bull case: The Clario integration provides immediate scale in clinical data solutions, complementing robust biopharma demand. Bear case: Ongoing declines across academic and government end-markets threaten to drag down overall momentum. The stock traded at 28.4x earnings as of May 1, 2026, commanding a premium valuation despite legacy segment softness.

What to watch: microbiology unit divestiture progress; academic end-market demand

03—Filings

Recent SEC Filings

  1. 8-KTHERMO FISHER SCIENTIFIC INC. 8-K Report, Financial Results (Jul 23, 2026)Thermo Fisher Scientific Inc. (TMO) filed an 8-K on July 23, 2026, to announce its financial results for the fiscal quarter ended June 27, 2026. The filing incorporates by reference the full text of the press release detailing these results, which is provided as Exhibit 99.1. Investors should refer to this press release for comprehensive information regarding the company's performance during the reported quarter. While the 8-K itself is a notification of the earnings release, the actual financial performance, key metrics, and management commentary will be found within the accompanying press release. This filing serves as the official notification of TMO's second-quarter 2026 financial outcomes and is a crucial document for understanding the company's current operational and financial standing.
  2. 8-KTHERMO FISHER SCIENTIFIC INC. 8-K Report, Shareholder Vote Results (May 26, 2026)Thermo Fisher Scientific Inc. (TMO) filed an 8-K on May 26, 2026, detailing the outcomes of its Annual Meeting of Shareholders held on May 20, 2026. The primary focus of the filing is the voting results on key corporate matters. Notably, all incumbent nominees for the Board of Directors were overwhelmingly re-elected for one-year terms, indicating strong shareholder confidence in the current leadership and governance structure. However, a significant development from the meeting is the shareholder rejection of the non-binding, advisory proposal on the compensation of the Company's named executive officers. This outcome suggests a divergence of opinion between shareholders and the board regarding executive pay practices. Despite this advisory vote, the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026, was ratified by a substantial majority of shareholders, ensuring continued auditor oversight.
  3. 8-KTHERMO FISHER SCIENTIFIC INC. 8-K Report, Financial Results (Apr 23, 2026)Thermo Fisher Scientific Inc. (TMO) has filed an 8-K report on April 23, 2026, to announce its financial results for the fiscal quarter ended March 28, 2026. The press release detailing these results is furnished as an exhibit to this filing. Investors should refer to the attached Exhibit 99.1 for the complete financial performance and operational details of the company during this period. While this 8-K primarily serves to furnish the earnings release, it's crucial for investors to review the information provided in Exhibit 99.1 to understand TMO's recent performance, any forward-looking statements made, and management's commentary on key business drivers and financial condition. The filing itself does not contain extensive new information beyond referencing the earnings announcement.
  4. 8-KTHERMO FISHER SCIENTIFIC INC. 8-K Report, Corporate Update (Mar 24, 2026)Thermo Fisher Scientific Inc. (TMO) announced the successful completion of its acquisition of Clario Holdings, Inc. on March 24, 2026. This strategic move is expected to bolster Thermo Fisher's capabilities and market position within its industry. While the filing itself is brief and primarily serves to announce the closing of this transaction, investors should anticipate future updates regarding the integration of Clario's operations and its impact on Thermo Fisher's financial performance and strategic direction. The acquisition of Clario Holdings, Inc. represents a significant development for Thermo Fisher. Investors will be keen to understand the financial terms of the deal, the expected synergies, and how Clario's business will be integrated into Thermo Fisher's existing portfolio. This 8-K filing serves as a formal notification of the transaction's closure, and further details concerning the financial implications and operational integration are likely to be disclosed in subsequent filings or investor communications.
  5. 8-KTHERMO FISHER SCIENTIFIC INC. 8-K Report, Material Agreement (Feb 12, 2026)Thermo Fisher Scientific Inc. (TMO) has announced the successful completion of a significant public offering of senior notes, raising approximately $3.76 billion in net proceeds. This capital infusion comprises four tranches of notes with varying interest rates and maturity dates, ranging from 2031 to 2046. The primary stated purpose of this offering is to fund a portion of the cash consideration for the previously announced acquisition of Clario Holdings, Inc., underscoring the company's strategic growth initiatives. While the acquisition of Clario is subject to customary closing conditions and regulatory approvals, TMO has outlined plans for the proceeds. Pending the acquisition's completion, a portion of the funds may be allocated to general corporate purposes, including potential future acquisitions, debt repayment, working capital, capital expenditures, or share repurchases. The notes are unsecured general obligations of the company and rank equally with existing unsecured and unsubordinated debt. The filing also details provisions related to early redemption, change of control scenarios, and standard covenants limiting certain secured debt and major asset dispositions.
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04—See also

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