TMOThermo Fisher Scientific

Health care · Measuring Instruments · NYSE

Thermo Fisher Scientific Inc. (also referred to in this document as “Thermo Fisher,” “we,” the “company,” or the “registrant”) is the world leader in serving science. 10-K, Item 1

Employees: 125,000
Headquarters: Waltham, MA
CEO: Marc N. Casper
Next results: around Jan 28, 2027

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What the 10-K filed 2026-02-26 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-02-20.

Big customers

Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).

No specific sentence about this in the 10-K.

Key suppliers

Parts or manufacturing that depend on one or a few suppliers.

No specific sentence about this in the 10-K.

Lawsuits and legal claims

Pending cases, settlements and what the company has set aside for them.

“Equity in earnings/losses of unconsolidated entities; impairments of long-lived assets; and certain other gains and losses that are either isolated or cannot be expected to occur again with any predictability, including gains/losses on investments, the sale of businesses, product lines, and real estate, significant litigation-related matters, curtailments/settlements of pension plans, and the early retirement of debt.”
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“Accruals are recorded for various contingencies, including legal proceedings, environmental, workers’ compensation, product, general and auto liabilities, self-insurance and other claims that arise in the normal course of business.”
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“The company has no material accruals for pending litigation or claims for which accrual amounts are not disclosed below, nor are material losses deemed probable for such matters.”
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“(b)Excludes $264 million of charges, principally $126 million of charges for impairment of long-lived assets in the Laboratory Products and Biopharma Services and Life Sciences Solutions segments, $26 million of contract termination costs associated with facility closures in the Laboratory Products and Biopharma Services segment, and $19 million of net charges for pre-acquisition litigation and other matters in the Laboratory Products and Biopharma Services segment.”
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Guarantees and indemnities

Promises to pay someone else's debts or losses if they cannot.

“Outstanding letters of credit and bank guarantees totaled $379 million at December 31, 2025.”
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“Outstanding surety bonds and other guarantees totaled $175 million at December 31, 2025.”
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“The amount of the guarantee at December 31, 2025 was $24 million.”
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“The aggregate maximum guarantee under these three lease arrangements is $147 million.”
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Debt covenants

Conditions in loan agreements that, if broken, can make debt due early.

“The agreement contains affirmative, negative and financial covenants, and events of default customary for facilities of this type.”
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“The covenants in the Facility include a Consolidated Net Interest Coverage Ratio (Consolidated EBITDA to Consolidated Net Interest Expense), as such terms are defined in the Facility.”
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“The company was in compliance with all covenants related to its senior notes at December 31, 2025.”
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“The company has agreed with the lessor to comply with certain financial covenants consistent with its other debt arrangements (Note 3).”
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Commitments off the balance sheet

Contracts the company must pay for later: purchase obligations, take-or-pay deals.

“The aggregate amount of the company’s unconditional purchase obligations totaled $1.98 billion at December 31, 2025, the majority of which are expected to be settled during 2026.”
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Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗

Work on TMO in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/TMO/export.csv") into a cell.