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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The biggest changes in the 10-K filed 2026-02-26, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.

Cash from operations

-9.8% FY to 2025-12-31 vs 2024-12-31

The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.

Net income

+5.8% FY to 2025-12-31 vs 2024-12-31

The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.

Revenue

+3.9% FY to 2025-12-31 vs 2024-12-31

“During 2025, revenues grew in the pharma and biotech market due to increased demand from customers, partially offset by reduced demand for COVID-19 vaccine and therapy related products and services.”
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“The increase in organic revenues in 2025 was driven by the bioproduction business.”
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Operating margin

17.1% → 17.4% (+0.3 pts) FY to 2025-12-31 vs 2024-12-31

“GAAP operating income margin and adjusted operating income margin increased in 2025 due primarily to very strong productivity improvements, partially offset by unfavorable business mix and strategic investments.”
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“GAAP operating income margin in 2025 also benefited from lower amortization expense when compared to 2024; however, this was partially offset by higher transaction-related costs.”
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Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗

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