Fundamental analysis · SEC EDGAR · TTM through 27/06/2026
TMO · NYSE · Healthcare
Fundamental quality
61
out of 100
Thermo Fisher Scientific Inc. runs like a cash machine: it converts about 15.8% of revenue into free cash flow and holds a 15% net margin, though it grows at a measured pace. On fundamental quality it scores 61 out of 100, profiling it as a company of reasonable quality. Its weakest area is its growth (revenue +6.8%/yr). Whether it's cheap or expensive depends on the current price, which you can compute in the tool.
Thermo Fisher is a key supplier to science: it makes and sells lab instruments, reagents and supplies for pharmaceutical companies, hospitals and research centers. It's the classic 'picks and shovels' business of healthcare and biotech.
EPS growth: 2.8% · Revenue growth: 6.8%
Net margin: 15% · ROE: 13.2% · ROIC: 8%
Net debt/EBITDA: 4.47x · FCF: 15.8%
Source: SEC EDGAR · TTM through 27/06/2026
The score includes +2 for dividend strength: 8 consecutive years of increases. Keeping that streak demands growing cash generation and balance-sheet discipline.
The score combines growth, profitability and financial strength. Here its profitability weighs in its favor, while its growth drags it down the most.
Percentile against the other 57 Healthcare companies in our coverage: how far it beats them on each metric (100 = best in sector).
Computed from the daily dataset scores. A high percentile places the company among the best in its sector on that metric; it is not a buy recommendation.
Key concepts
What do these metrics mean? Fundamental analysis · What is the P/E · What is EPS · What is ROE · Net & gross margin · Free cash flow
| Year | Revenue | Net income | Free cash flow | Net debt |
|---|---|---|---|---|
| 2020 | 32,218 | 6,377 | 6,815 | 11,410 |
| 2021 | 39,211 | 7,728 | 6,789 | 32,730 |
| 2022 | 44,915 | 6,960 | 6,911 | 31,333 |
| 2023 | 42,857 | 5,995 | 6,927 | 30,259 |
| 2024 | 42,879 | 6,335 | 7,267 | 29,277 |
| 2025 | 44,556 | 6,704 | 6,293 | 32,853 |
Between 2020 and 2025, revenue went from $32,218M to $44,556M (+38%) and net income went from $6,377M to $6,704M (+5%). Meanwhile, its margins have narrowed (from 20% to 15%).
Annual figures in millions of U.S. dollars ($M) per SEC filings. Net debt is total debt minus cash.
Latest results
Figures for the half-year ended June 27, 2026, versus the half-year ended June 28, 2025 (SEC filings):
Compared with the previous close (March 28, 2026), this is what moved in its accounts:
Automatic comparison between the two most recent periods filed with the SEC. One quarter doesn't make a trend: read it alongside the historical evolution above.
$1.72
per share, yearly
9.5% of earnings
Payout
8 straight years raising it
Growth
The dividend yield depends on today's price. Compute it in the analyzer → · See all dividend-paying stocks →
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Is Thermo Fisher Scientific Inc. cheap or expensive?
That depends on the current price. Look it up, enter it in the tool and get the full valuation verdict (P/E against its sector).
Compute the valuation →Is Thermo Fisher Scientific Inc. a good company to invest in?
In terms of business quality, Thermo Fisher Scientific Inc. scores 61 out of 100 in our analysis, placing it as a company of reasonable quality. That said, this isn't a recommendation: whether it's a good investment also depends on its current price and your goals.
Is Thermo Fisher Scientific Inc. a profitable company?
Yes. Thermo Fisher Scientific Inc. shows a net margin of 15% and an ROE of 13.2%, a sign of a profitable business.
Does Thermo Fisher Scientific Inc. have a lot of debt?
Yes, its leverage is high: net debt is 4.47 times its EBITDA, and it has been rising.
Is Thermo Fisher Scientific Inc. growing?
Its revenue has grown 6.8% annualized in recent years and its earnings per share 2.8%.
Does Thermo Fisher Scientific Inc. generate cash?
Yes. It converts about 15.8% of its revenue into free cash flow, and has done so positively year after year.
The thresholds are general and the system doesn't judge qualitative factors. See the full methodology and use this analysis as a first filter, never as a final decision.
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Who's behind the methodology and model · how the score is computed
Data: see Thermo Fisher Scientific Inc.'s filings on EDGAR
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