{ "ok": true, "cik": "97745", "ticker": "TMO", "name": "THERMO FISHER SCIENTIFIC INC.", "filings": [ { "form": "10-Q", "filed": "2026-07-31", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/97745/000009774526000144/0000097745-26-000144-index.htm" }, { "form": "8-K", "filed": "2026-07-23", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/97745/000009774526000138/0000097745-26-000138-index.htm" }, { "form": "8-K", "filed": "2026-05-26", "items": [ "5.07 Submission of Matters to a Vote of Security Holders" ], "url": "https://www.sec.gov/Archives/edgar/data/97745/000009774526000117/0000097745-26-000117-index.htm" }, { "form": "10-Q", "filed": "2026-05-01", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/97745/000009774526000092/0000097745-26-000092-index.htm" }, { "form": "8-K", "filed": "2026-04-23", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/97745/000009774526000086/0000097745-26-000086-index.htm" }, { "form": "DEF 14A", "filed": "2026-04-07", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/97745/000119312526144585/0001193125-26-144585-index.htm" } ], "events12m": 11, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 1, "latest": { "filed": "2026-01-12", "url": "https://www.sec.gov/Archives/edgar/data/97745/000114036126000871/0001140361-26-000871-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000097745.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=97745" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up THERMO FISHER SCIENTIFIC INC. ($TMO). Last filing: 10-Q, 2026-07-31. 11 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 44556000000, "revenueGrowth1y": 0.039110053872525086, "revenueGrowthPerYear": 0.0324631718706303, "yearsOfData": 5, "operatingMargin": 0.17384863991381633, "operatingMarginPrior": 0.17110940087222185, "netMargin": 0.15084388185654007, "operatingCashFlow": 7818000000, "capitalSpending": 1525000000, "freeCashFlow": 6293000000, "researchAndDevelopment": 1397000000, "researchShareOfRevenue": 0.03135380195708771, "cash": 9852000000, "longTermDebt": 39172000000, "longTermDebtChange": 0.2606848609680741, "revenueHistory": [ { "fiscalYearEnd": "2021-12-31", "revenue": 39211000000 }, { "fiscalYearEnd": "2022-12-31", "revenue": 44915000000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 42857000000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 42879000000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 44556000000 } ], "totalEquity": 53407000000, "totalAssets": 110343000000, "equityRatio": 0.48400895389829895, "returnOnEquity": 0.12584492669500252, "dividendsPaid": 636000000, "payoutRatio": 0.0946287754798393, "dividendPerShare": 1.72, "dividendYearsRising": 8, "dividendCut": false, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": 17.77, "sharesOutstanding": 378000000, "bookValuePerShare": 141.2883597883598, "revenuePerShare": 117.87301587301587, "range80": { "low": 39736420579.94462, "high": 48369440277.362595, "baseline": 45367779841.95146, "n": 1471, "band": "b10", "bandLabel": "$10B+", "method": "v4.1", "credibility": 0.5, "growthYears": 4, "ownVolatility": 0.07753498254176015, "classVolatility": 0.06659579566308972, "volatility": 0.07227265567886326 }, "ifPaceHeld": { "low": 39736420579.94462, "high": 48369440277.362595 } }, "edgarette": "🔖 Exposure: revenue $44.6B (FY2025), total debt $39.2B. Experience: revenue up 3.9% on the year, up 3.2% a year over 4 years; operating margin 17.4%, up from 17.1%. Soundness: equity 48.4% of assets, return on equity 12.6%, payout 9.5% of profit, dividend per share up 8 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $39.7B and $48.4B next year (method v4.1: its own 4-year record of growth weighed at 50% against $10B+ filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $36.4B to $52.3B. A statistical range, not company guidance. Against peers (8 filers, $50M+ revenue, measuring & controlling devices, nec): operating margin 17.4% against a 9.4% median; growth 3.9% against 2.9%.", "peers": { "sic": 3829, "sicDescription": "Measuring & Controlling Devices, NEC", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "3829", "growth": [ 0.0286, 8 ], "opMargin": [ 0.0939, 8 ], "equityRatio": [ 0.5735, 8 ], "returnOnEquity": [ 0.044, 8 ] }, "summary": "Thermo Fisher Scientific (TMO) grew revenue 3.9% in FY2025 to $44.6 billion, operating margin 17.4% against a 9.4% median for measuring & controlling devices, nec, equity 48.4% of assets, and dividend per share up 8 years running. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
THERMO FISHER SCIENTIFIC INC. against its own record and its peers
Operating marginPeer median 9.4%17.4%Revenue, on the yearPeer median 2.9%3.9%Equity of assetsPeer median 57.4%48.4%Return on equityPeer median 4.4%12.6%Payout of profit9.5%Gold tick: the median of 8–8 peers with $50M+ revenue in measuring & controlling devices, nec
", "chartHorizon": "
Handed back now, or kept to compound
Of each dollar of profit9.5% paid out90.5% keptHanded back per share$1.72up 8 years runningGrowth its own profit can fund11.4%retained x return on equityRevenue growth it managed3.9%last year, for comparison

Gold is paid out to shareholders; navy is kept in the business. Retained profit times return on equity is the pace a company can fund from itself. Facts from the filings, not a recommendation.

", "backtest": { "tests": 15, "hits": 10, "rate": 0.6666666666666666, "method": "v4", "byYear": { "2011": [ 0, 1 ], "2012": [ 1, 1 ], "2013": [ 1, 1 ], "2014": [ 0, 1 ], "2015": [ 0, 1 ], "2016": [ 1, 1 ], "2017": [ 1, 1 ], "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2020": [ 0, 1 ], "2021": [ 1, 1 ], "2022": [ 1, 1 ], "2023": [ 0, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:33:40.604Z", "hash": "9ba1c401976349ea", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Thermo Fisher Scientific (TMO) grew revenue 3.9% in FY2025 to $44.6 billion, operating margin 17.4% against a 9.4% median for measuring & controlling devices, nec, equity 48.4% of assets, and dividend per share up 8 years running. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 44556000000, "totalDebt": 39172000000, "cash": 9852000000 }, "experience": { "revenueGrowth1y": 0.039110053872525086, "revenueGrowthPerYear": 0.0324631718706303, "operatingMargin": 0.17384863991381633, "operatingMarginPrior": 0.17110940087222185, "netMargin": 0.15084388185654007, "freeCashFlow": 6293000000 }, "soundness": { "equityRatio": 0.48400895389829895, "returnOnEquity": 0.12584492669500252, "payoutRatio": 0.0946287754798393, "dividendPerShare": 1.72, "dividendYearsRising": 8, "dividendCut": false, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 3829, "sicDescription": "Measuring & Controlling Devices, NEC", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "3829", "growth": [ 0.0286, 8 ], "opMargin": [ 0.0939, 8 ], "equityRatio": [ 0.5735, 8 ], "returnOnEquity": [ 0.044, 8 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 1, "latest": { "filed": "2026-01-12", "url": "https://www.sec.gov/Archives/edgar/data/97745/000114036126000871/0001140361-26-000871-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 39736420579.94462, "high": 48369440277.362595, "baseline": 45367779841.95146, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 1471, "sizeBand": "$10B+", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.5, "growthYears": 4, "ownVolatility": 0.07753498254176015, "classVolatility": 0.06659579566308972, "pricedVolatility": 0.07227265567886326, "k": 3 }, "stress": { "low": 36448649447.233086, "high": 52334117625.254135, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 15, "hits": 10, "rate": 0.6666666666666666, "method": "v4", "byYear": { "2011": [ 0, 1 ], "2012": [ 1, 1 ], "2013": [ 1, 1 ], "2014": [ 0, 1 ], "2015": [ 0, 1 ], "2016": [ 1, 1 ], "2017": [ 1, 1 ], "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2020": [ 0, 1 ], "2021": [ 1, 1 ], "2022": [ 1, 1 ], "2023": [ 0, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:33:40.604Z", "hash": "9ba1c401976349ea", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000097745.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=97745" }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.1755, "growth3y": -0.0027, "volatility": 0.0775, "paysDividend": true, "raisedDividend": true, "equityRatio": 0.484, "quadrant": { "code": "sj", "label": "Slow and jumpy", "plain": "growing slower than its size class, with revenue that swings more" }, "compass": { "code": "between", "inside": "Turns 17.5% of revenue into operating cash; revenue shrinking 0.3% a year over three years; pays and raised its dividend.", "outside": "Among $10B+ companies: 61st percentile for cash, 25th for growth.", "emoji": "🌊", "label": "In between", "plain": "no clear cash pattern yet" }, "band": "$10B+", "cashPctInClass": 61, "growthPctInClass": 25, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "slowjumpy", "text": "slow and jumpy: growing slower than its size class, with revenue that swings more" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 7818000000, "investing": -4047000000, "financing": 1801000000, "capitalSpending": 1525000000, "free": 6293000000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 9312000000, "free": 6789000000 }, { "fiscalYearEnd": "2022-12-31", "operating": 9154000000, "free": 6911000000 }, { "fiscalYearEnd": "2023-12-31", "operating": 8406000000, "free": 6927000000 }, { "fiscalYearEnd": "2024-12-31", "operating": 8667000000, "free": 7267000000 }, { "fiscalYearEnd": "2025-12-31", "operating": 7818000000, "free": 6293000000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 9852000000, "shortTerm": 253000000, "longTerm": null, "equityHoldings": null, "totalAssets": 110343000000, "ladder": null, "currentRatio": 1.89, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.1755, "growth3y": -0.0027, "volatility": 0.0775, "paysDividend": true, "raisedDividend": true, "equityRatio": 0.484, "quadrant": { "code": "sj", "label": "Slow and jumpy", "plain": "growing slower than its size class, with revenue that swings more" }, "compass": { "code": "between", "inside": "Turns 17.5% of revenue into operating cash; revenue shrinking 0.3% a year over three years; pays and raised its dividend.", "outside": "Among $10B+ companies: 61st percentile for cash, 25th for growth.", "emoji": "🌊", "label": "In between", "plain": "no clear cash pattern yet" }, "band": "$10B+", "cashPctInClass": 61, "growthPctInClass": 25, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "slowjumpy", "text": "slow and jumpy: growing slower than its size class, with revenue that swings more" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 7818000000, "investing": -4047000000, "financing": 1801000000, "capitalSpending": 1525000000, "free": 6293000000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 9312000000, "free": 6789000000 }, { "fiscalYearEnd": "2022-12-31", "operating": 9154000000, "free": 6911000000 }, { "fiscalYearEnd": "2023-12-31", "operating": 8406000000, "free": 6927000000 }, { "fiscalYearEnd": "2024-12-31", "operating": 8667000000, "free": 7267000000 }, { "fiscalYearEnd": "2025-12-31", "operating": 7818000000, "free": 6293000000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 9852000000, "shortTerm": 253000000, "longTerm": null, "equityHoldings": null, "totalAssets": 110343000000, "ladder": null, "currentRatio": 1.89, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }