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4644000000 } } }, "trailing_twelve_months": { "label": "Trailing twelve months ended June 27, 2026", "period_start": "2025-06-29", "period_end": "2026-06-27", "period_type": "trailing twelve months", "source_accession": "0000097745-26-000018; 0000097745-26-000144", "derivation": "fiscal year 2025 plus the six months ended June 27, 2026 less the six months ended June 28, 2025. Diluted and basic earnings per share are the same roll-forward of the per-share figures each statement prints; no weighted-average share count is stated for this view because a weighted average is not additive across periods.", "income_statement": { "product_revenues": 26836000000, "service_revenues": 19501000000, "total_revenues": 46336000000, "cost_of_product_revenues": 13764000000, "cost_of_service_revenues": 13665000000, "total_cost_of_revenues": 27429000000, "gross_profit": 18907000000, "selling_general_and_administrative_expenses": 9028000000, "research_and_development_expenses": 1402000000, "restructuring_and_other_costs": 329000000, "total_costs_and_operating_expenses": 38191000000, "operating_income": 8145000000, "interest_income": 932000000, "interest_expense": -1467000000, "other_income_expense": 26000000, "income_before_income_taxes": 7637000000, "provision_for_income_taxes": -598000000, "equity_in_losses_of_unconsolidated_entities": -52000000, "net_income": 6988000000, "net_income_attributable_to_noncontrolling_interests": 21000000, "net_income_attributable_to_shareholders": 6967000000, "diluted_eps": 18.58, "basic_eps": 18.61 }, "cash_flow": { "net_income": 6988000000, "depreciation_of_property_plant_and_equipment": 1156000000, "amortization_of_acquisition_related_intangible_assets": 1786000000, "change_in_deferred_income_taxes": -504000000, "stock_based_compensation": 319000000, "operating_cash_flow": 9013000000, "capex": 1695000000, "acquisitions_net_of_cash_acquired": 12909000000, "investing_cash_flow": -12029000000, "net_proceeds_from_issuance_of_debt": 10157000000, "repayment_of_debt": 2199000000, "share_repurchases": 5000000000, "dividends_paid": 662000000, "financing_cash_flow": 2416000000, "free_cash_flow": 7318000000 } }, "notes": [ "Sources: the fiscal 2025 Form 10-K (accession 0000097745-26-000018), which prints income statements and cash flow statements for 2025, 2024 and 2023 and balance sheets for 2025 and 2024; and the Form 10-Q for the quarter ended June 27, 2026 (accession 0000097745-26-000144), which prints the three months ended June 27, 2026 and June 28, 2025, the six months ended each of those dates, and balance sheets at June 27, 2026 and December 31, 2025. Those are the periods this record holds. Fiscal 2023 carries no balance sheet because the 10-K does not print one for that year.", "Thermo Fisher's fiscal year ends December 31, but its interim quarters do not end on calendar quarter-ends. The second quarter of 2026 ran from March 29, 2026 through June 27, 2026, and the year-ago quarter from March 30, 2025 through June 28, 2025; each start date is the day after the closing balance date the statements of equity show for the preceding quarter (March 28, 2026 and March 29, 2025).", "Thermo Fisher does not print a gross profit line. 'total_cost_of_revenues' is the cost of product revenues plus the cost of service revenues as the income statement prints them, and 'gross_profit' is total revenues less that sum. For fiscal 2025 that is $44,556 million less $26,318 million, or $18,238 million.", "The balance sheet does not print a total liabilities line. 'total_liabilities' is the sum of total current liabilities, deferred income taxes, other long-term liabilities and long-term obligations. Redeemable noncontrolling interest is presented between liabilities and equity, so total assets equals total liabilities plus that item plus total equity; at December 31, 2025 the printed, rounded components leave a $1 million difference against the printed total assets of $110,343 million.", "'total_debt' is short-term obligations and current maturities of long-term obligations plus long-term obligations. 'net_debt' subtracts cash and cash equivalents and short-term investments from that figure.", "Cash outflows \u2014 capital expenditure, dividends paid, share repurchases, acquisitions net of cash acquired and repayment of debt \u2014 are stated here as positive magnitudes; the statement of cash flows prints them in parentheses. The investing and financing subtotals keep the statement's own signs. Free cash flow is operating cash flow less capital expenditure.", "The 10-Q presents cash flows for the six-month periods only, so the two discrete quarters in this record carry no operating cash flow or free cash flow. Capital expenditure for each quarter is available and is taken from the total column of the segment note's 'purchases of property, plant and equipment' ($450 million for the June 2026 quarter, $294 million for the June 2025 quarter).", "The trailing-twelve-months view is derived: fiscal 2025 plus the six months ended June 27, 2026 less the six months ended June 28, 2025. Trailing revenue of $46,336 million and trailing free cash flow of $7,318 million follow from that roll-forward. Trailing earnings per share is the same roll-forward applied to the per-share amounts each statement prints ($17.74 + $9.10 - $8.26 = $18.58); no weighted-average share count is stated for the trailing view, because a weighted average is not additive across periods.", "Segment figures are revenues from external customers and segment income exactly as the segment note reports them for the four reportable segments \u2014 Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Biopharma Services. Intersegment revenue is excluded, and segment income is stated before unallocated amounts (amortization of acquisition-related intangible assets, restructuring and other costs, certain cost-of-revenues and selling, general and administrative adjustments) and before interest and other income and expense, so segment income does not sum to consolidated operating income. Fiscal 2025 segment income totalled $10,109 million against consolidated operating income of $7,746 million. Both filings state that prior-period segment expense amounts have been recast to reflect the current period's method of allocating expenses to segments.", "Net income and net income attributable to Thermo Fisher Scientific Inc. differ by the results of noncontrolling and redeemable noncontrolling interests. Earnings per share is struck on the attributable figure. In fiscal 2023 the attributable figure ($5,995 million) exceeds consolidated net income ($5,955 million) because those interests recorded a loss.", "Common shares outstanding is shares issued less treasury shares, both read from the balance sheet captions: 445,673,899 issued less 75,926,613 in treasury at June 27, 2026; 445,160,301 less 68,938,831 at December 31, 2025; 443,841,240 less 63,066,906 at December 31, 2024.", "Dividends declared per share are taken from the statements of redeemable noncontrolling interest and equity: $1.72 for 2025, $1.56 for 2024 and $1.40 for 2023; $0.47 for the June 2026 quarter and $0.43 for the June 2025 quarter.", "The step-up in goodwill (from $49,362 million at December 31, 2025 to $54,832 million at June 27, 2026), in acquisition-related intangible assets, and the $8,872 million of acquisitions net of cash acquired in the first half of 2026 reflect the March 24, 2026 acquisition of Clario Holdings, Inc. into the Laboratory Products and Biopharma Services segment, as described in the 10-Q.", "No adjustments were required: Thermo Fisher reports in U.S. dollars, is not an American depositary receipt issuer, and has no stock splits on record over the periods presented, so per-share amounts are as the filings print them." ], "uncertainties": [ "Operating cash flow and free cash flow for the discrete three-month periods are not reported. The 10-Q presents cash flows on a six-month basis and the fiscal 2025 10-K on a full-year basis, and the first-quarter figures needed to difference them are not in either filing, so the quarters are left without those lines rather than estimated.", "Total liabilities is a sum of the printed liability captions rather than a line Thermo Fisher prints. At December 31, 2025 it reconciles to total assets within $1 million, which is rounding in the filing's own presentation (total equity is printed as $53,415 million while its printed components, $53,407 million and $7 million, sum to $53,414 million).", "Trailing-twelve-months earnings per share is derived by rolling the published per-share amounts forward rather than by dividing trailing net income by a weighted-average share count, which cannot be computed from the periods these filings print. Trailing net income attributable to Thermo Fisher of $6,967 million over roughly 375 million shares is consistent with the $18.58 figure, but it is a derivation, not a reported number.", "Fiscal 2023 carries income statement, cash flow and segment figures but no balance sheet, because the fiscal 2025 10-K's balance sheet presents only December 31, 2025 and December 31, 2024.", "Quarterly capital expenditure is taken from the segment note's total column rather than from a cash flow statement, since the 10-Q publishes no three-month cash flow statement. The segment note describes the same concept \u2014 purchases of property, plant and equipment \u2014 and its six-month total of $826 million agrees with the cash flow statement." ], "headline": { "period": "Q2 FY2026", "period_end_words": "June 27, 2026", "metrics": [ { "label": "Revenue", "format": "usd", "value": 11994000000, "text": "$11.99 billion", "exact": "$11,994,000,000", "compact": "$11.99B", "abs": "$11.99 billion", "prior_value": 10855000000, "prior": "$10.86 billion", "priorabs": "$10.86 billion", "yoy": "up 10.5%", "source": { "array": "quarterly", "field": "income_statement.total_revenues", "index": 0, "period_label": "Q2 FY2026", "period_end": "2026-06-27", "period_start": "2026-03-29", "span_days": 90, "source_accession": "0000097745-26-000144", "prior_index": 1, "prior_period_label": "Q2 FY2025", "prior_period_end": "2025-06-28", "prior_period_start": "2025-03-30", "prior_span_days": 90, "prior_source_accession": "0000097745-26-000144", "gap_days": 364 } }, { "label": "Net income", "format": "usd", "value": 1736000000, "text": "$1.74 billion", "exact": "$1,736,000,000", "compact": "$1.74B", "abs": "$1.74 billion", "prior_value": 1617000000, "prior": "$1.62 billion", "priorabs": "$1.62 billion", "yoy": "up 7.4%", "source": { "array": "quarterly", "field": "income_statement.net_income_attributable_to_shareholders", "index": 0, "period_label": "Q2 FY2026", "period_end": "2026-06-27", "period_start": "2026-03-29", "span_days": 90, "source_accession": "0000097745-26-000144", "prior_index": 1, "prior_period_label": "Q2 FY2025", "prior_period_end": "2025-06-28", "prior_period_start": "2025-03-30", "prior_span_days": 90, "prior_source_accession": "0000097745-26-000144", "gap_days": 364 } }, { "label": "Diluted EPS", "format": "eps", "value": 4.68, "text": "$4.68", "exact": "$4.68", "compact": "$4.68", "abs": "$4.68", "prior_value": 4.28, "prior": "$4.28", "priorabs": "$4.28", "yoy": "up 9.3%", "source": { "array": "quarterly", "field": "income_statement.diluted_eps", "index": 0, "period_label": "Q2 FY2026", "period_end": "2026-06-27", "period_start": "2026-03-29", "span_days": 90, "source_accession": "0000097745-26-000144", "prior_index": 1, "prior_period_label": "Q2 FY2025", "prior_period_end": "2025-06-28", "prior_period_start": "2025-03-30", "prior_span_days": 90, "prior_source_accession": "0000097745-26-000144", "gap_days": 364 } }, { "label": "Operating income", "format": "usd", "value": 2087000000, "text": "$2.09 billion", "exact": "$2,087,000,000", "compact": "$2.09B", "abs": "$2.09 billion", "prior_value": 1834000000, "prior": "$1.83 billion", "priorabs": "$1.83 billion", "yoy": "up 13.8%", "source": { "array": "quarterly", "field": "income_statement.operating_income", "index": 0, "period_label": "Q2 FY2026", "period_end": "2026-06-27", "period_start": "2026-03-29", "span_days": 90, "source_accession": "0000097745-26-000144", "prior_index": 1, "prior_period_label": "Q2 FY2025", "prior_period_end": "2025-06-28", "prior_period_start": "2025-03-30", "prior_span_days": 90, "prior_source_accession": "0000097745-26-000144", "gap_days": 364 } }, { "label": "Total debt", "format": "usd", "value": 42549000000, "text": "$42.55 billion", "exact": "$42,549,000,000", "compact": "$42.55B", "abs": "$42.55 billion", "prior_value": null, "prior": null, "priorabs": null, "yoy": null, "source": { "array": "quarterly", "field": "balance_sheet.total_debt", "index": 0, "period_label": "Q2 FY2026", "period_end": "2026-06-27", "period_start": "2026-03-29", "span_days": 90, "source_accession": "0000097745-26-000144" } } ], "summary": "Thermo Fisher Scientific reported $11.99 billion in revenue for Q2 FY2026, the quarter ended June 27, 2026, up 10.5% from a year earlier, with net income of $1.74 billion and diluted earnings per share of $4.68. Operating income was $2.09 billion, up 13.8%, and management described customer activity strengthening across its pharmaceutical, biotech, academic, government, industrial and diagnostics end markets; the revenue increase was split roughly evenly between organic growth and acquisitions, with a smaller contribution from currency translation. Total debt stood at $42.55 billion at quarter end, reflecting the March 2026 purchase of clinical trial data provider Clario, which also raised goodwill and drew down cash.", "qa": [ { "q": "How much revenue did Thermo Fisher Scientific report in Q2 FY2026?", "a": "Thermo Fisher Scientific reported $11.99 billion in revenue for Q2 FY2026, the quarter ended June 27, 2026. That is up 10.5% from $10.86 billion in the same quarter a year earlier, with roughly half of the increase coming from acquisitions rather than organic growth." }, { "q": "What was Thermo Fisher Scientific's earnings per share in Q2 FY2026?", "a": "Thermo Fisher Scientific reported diluted earnings per share of $4.68 for Q2 FY2026, up 9.3% from $4.28 a year earlier. Net income attributable to shareholders was $1.74 billion, up 7.4%." }, { "q": "Is Thermo Fisher Scientific's profitability improving?", "a": "Thermo Fisher Scientific's operating income was $2.09 billion in Q2 FY2026, up 13.8% from $1.83 billion a year earlier. Operating profit grew faster than revenue, which was up 10.5%. The company attributed the improvement to productivity gains, partly offset by unfavorable business mix." }, { "q": "How much debt does Thermo Fisher Scientific have?", "a": "Thermo Fisher Scientific carried $42.55 billion of total debt at June 27, 2026, including short term borrowings and current maturities. The company funded its March 2026 acquisition of Clario with cash on hand and new borrowing, and net interest expense in Q2 FY2026 was close to double the year-ago level." } ] }, "company_details": { "Name": "Thermo Fisher Scientific Inc.", "Ticker": "TMO", "CIK": "0000097745", "Exchange": "NYSE", "State": "Massachusetts", "Incorporation": "Delaware", "SIC": "3829", "Office": "Industrial Applications and Services", "Industry": "Measuring & Controlling Devices, NEC" }, "next_filing": { "predicted_date": "2026-10-30", "predicted_type": "10-Q" }, "fiscal_period": { "fiscal_year": 2026, "fiscal_period": "Q2", "tag": "FY26Q2", "period_end": "2026-06-27", "form": "10-Q", "accession": "0000097745-26-000144", "fiscal_year_end": "1231", "source": "facts" } }