Thermo Fisher Scientific Inc. income statement & cash flow
In the fiscal year ended Dec 31, 2025, Thermo Fisher Scientific Inc. reported net income of $6.70B on revenue of $44.56B. Operating cash flow was $7.82B and capital expenditures were $1.52B, leaving $6.29B of free cash flow (operating cash flow minus capital expenditures).
Income statement and cash flow summary
| Fiscal year ended | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $18.27B | $20.92B | $24.36B | $25.54B | $32.22B | $39.21B | $44.91B | $42.86B | $42.88B | $44.56B |
| Operating income | $2.46B | $2.96B | $3.78B | $4.59B | $7.79B | $10.03B | $8.39B | $6.86B | $7.34B | $7.75B |
| Net income | $2.02B | $2.23B | $2.94B | $3.70B | $6.38B | $7.73B | $6.96B | $6.00B | $6.33B | $6.70B |
| Diluted EPS | $5.09 | $5.59 | $7.24 | $9.17 | $15.96 | $19.46 | $17.63 | $15.45 | $16.53 | $17.74 |
| Operating cash flow | $3.26B | $4.00B | $4.54B | $4.97B | $8.29B | $9.31B | $9.15B | $8.41B | $8.67B | $7.82B |
| Capital expenditures | $444.00M | $508.00M | $758.00M | $926.00M | $1.47B | $2.52B | $2.24B | $1.48B | $1.40B | $1.52B |
| Reported in | 10-K 2019 | 10-K 2020 | 10-K 2021 | 10-K 2022 | 10-K 2023 | 10-K 2024 | 10-K 2025 | 10-K 2026 | 10-K 2026 | 10-K 2026 |
Margins
Each figure divided by revenue for the same fiscal year.
| Fiscal year ended | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| Dec 2025 | — | 17.4% | 15.0% |
| Dec 2024 | — | 17.1% | 14.8% |
| Dec 2023 | — | 16.0% | 14.0% |
| Dec 2022 | — | 18.7% | 15.5% |
| Dec 2021 | — | 25.6% | 19.7% |
Source: SEC EDGAR XBRL company facts for CIK 97745 (raw data). Most recent filing in this dataset: 10-Q filed Oct 30, 2026. SEC data file dated Nov 3, 2026; page built Nov 5, 2026. Figures are as most recently reported, including restatements. How we select figures.