Thermo Fisher Scientific Inc. (TMO) Q2 FY2026 Financial Statements: Revenue $11.99B, Net income $1.74B
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PeriodQ2 FY2026
Published
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.
| Metric | Amount | vs. year ago |
|---|---|---|
| Revenue | $11,994,000,000 | up 10.5% |
| Net income | $1,736,000,000 | up 7.4% |
| Diluted EPS | $4.68 | up 9.3% |
| Operating income | $2,087,000,000 | up 13.8% |
| Total debt | $42,549,000,000 |
About this file
| Ticker | TMO |
|---|---|
| CIK | 0000097745 |
| Company | Thermo Fisher Scientific Inc. |
| Business type | industrial |
| Schema template | standard (industrial/tech/consumer): revenue, cost of revenue, gross profit, operating income, net income, diluted EPS and diluted shares; cash, debt, assets and equity; operating cash flow, capital expenditure and free cash flow, extended with the four reportable segments' external revenue and segment income |
| Reporting currency | USD |
| Converted to USD | no |
| Units | actual dollars (not millions); per-share amounts and share counts in actual units |
TMO annual income statement, balance sheet and cash flow
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Fiscal year | 2025 | 2024 | 2023 |
| Label | FY2025 | FY2024 | FY2023 |
| Period start | 2025-01-01 | 2024-01-01 | 2023-01-01 |
| Period end | 2025-12-31 | 2024-12-31 | 2023-12-31 |
| Period type | fiscal year | fiscal year | fiscal year |
| Source accession | 0000097745-26-000018 | 0000097745-26-000018 | 0000097745-26-000018 |
| Income statement | |||
| Product revenues | 25,965,000,000 | 25,034,000,000 | 25,243,000,000 |
| Service revenues | 18,592,000,000 | 17,845,000,000 | 17,614,000,000 |
| Total revenues | 44,556,000,000 | 42,879,000,000 | 42,857,000,000 |
| Cost of product revenues | 13,405,000,000 | 12,523,000,000 | 13,168,000,000 |
| Cost of service revenues | 12,913,000,000 | 12,654,000,000 | 12,589,000,000 |
| Selling general and administrative expenses | 8,732,000,000 | 8,595,000,000 | 8,445,000,000 |
| Research and development expenses | 1,397,000,000 | 1,390,000,000 | 1,337,000,000 |
| Restructuring and other costs | 362,000,000 | 379,000,000 | 459,000,000 |
| Total costs and operating expenses | 36,810,000,000 | 35,542,000,000 | 35,998,000,000 |
| Operating income | 7,746,000,000 | 7,337,000,000 | 6,859,000,000 |
| Interest income | 993,000,000 | 1,078,000,000 | 879,000,000 |
| Interest expense | -1,419,000,000 | -1,390,000,000 | -1,375,000,000 |
| Other income expense | -12,000,000 | 12,000,000 | -65,000,000 |
| Income before income taxes | 7,308,000,000 | 7,037,000,000 | 6,298,000,000 |
| Provision for income taxes | -547,000,000 | -657,000,000 | -284,000,000 |
| Equity in losses of unconsolidated entities | -41,000,000 | -42,000,000 | -59,000,000 |
| Net income | 6,721,000,000 | 6,338,000,000 | 5,955,000,000 |
| Net income attributable to noncontrolling interests | 17,000,000 | 3,000,000 | -40,000,000 |
| Net income attributable to shareholders | 6,704,000,000 | 6,335,000,000 | 5,995,000,000 |
| Basic EPS | 17.77 | 16.58 | 15.52 |
| Diluted EPS | 17.74 | 16.53 | 15.45 |
| Basic shares | 377,000,000 | 382,000,000 | 386,000,000 |
| Diluted shares | 378,000,000 | 383,000,000 | 388,000,000 |
| Total cost of revenues | 26,318,000,000 | 25,177,000,000 | 25,757,000,000 |
| Gross profit | 18,238,000,000 | 17,702,000,000 | 17,100,000,000 |
| Dividends declared per share | 1.72 | 1.56 | 1.4 |
| Balance sheet | |||
| Cash and cash equivalents | 9,852,000,000 | 4,009,000,000 | |
| Short term investments | 253,000,000 | 1,561,000,000 | |
| Accounts receivable net | 8,900,000,000 | 8,191,000,000 | |
| Inventories | 5,425,000,000 | 4,978,000,000 | |
| Contract assets net | 1,666,000,000 | 1,435,000,000 | |
| Other current assets | 2,612,000,000 | 1,964,000,000 | |
| Total current assets | 28,707,000,000 | 22,137,000,000 | |
| Property plant and equipment net | 10,565,000,000 | 9,306,000,000 | |
| Acquisition related intangible assets net | 15,838,000,000 | 15,533,000,000 | |
| Other assets | 5,871,000,000 | 4,492,000,000 | |
| Goodwill | 49,362,000,000 | 45,853,000,000 | |
| Total assets | 110,343,000,000 | 97,321,000,000 | |
| Short term debt and current maturities | 3,533,000,000 | 2,214,000,000 | |
| Accounts payable | 3,622,000,000 | 3,079,000,000 | |
| Accrued payroll and employee benefits | 1,995,000,000 | 1,988,000,000 | |
| Contract liabilities | 2,710,000,000 | 2,852,000,000 | |
| Other accrued expenses | 3,329,000,000 | 3,199,000,000 | |
| Total current liabilities | 15,189,000,000 | 13,332,000,000 | |
| Deferred income taxes long term | 1,493,000,000 | 1,268,000,000 | |
| Other long term liabilities | 4,273,000,000 | 3,989,000,000 | |
| Long term debt | 35,852,000,000 | 29,061,000,000 | |
| Redeemable noncontrolling interests | 122,000,000 | 120,000,000 | |
| Common stock | 445,000,000 | 444,000,000 | |
| Capital in excess of par value | 18,563,000,000 | 17,962,000,000 | |
| Retained earnings | 59,156,000,000 | 53,102,000,000 | |
| Treasury stock at cost | -22,309,000,000 | -19,226,000,000 | |
| Accumulated other comprehensive loss | -2,448,000,000 | -2,697,000,000 | |
| Total parent shareholders equity | 53,407,000,000 | 49,584,000,000 | |
| Noncontrolling interests | 7,000,000 | -33,000,000 | |
| Total equity | 53,415,000,000 | 49,551,000,000 | |
| Total liabilities | 56,807,000,000 | 47,650,000,000 | |
| Total debt | 39,385,000,000 | 31,275,000,000 | |
| Net debt | 29,280,000,000 | 25,705,000,000 | |
| Common shares issued | 445,160,301 | 443,841,240 | |
| Treasury shares | 68,938,831 | 63,066,906 | |
| Common shares outstanding | 376,221,470 | 380,774,334 | |
| Cash flow | |||
| Net income | 6,721,000,000 | 6,338,000,000 | 5,955,000,000 |
| Depreciation of property plant and equipment | 1,050,000,000 | 1,156,000,000 | 1,068,000,000 |
| Amortization of acquisition related intangible assets | 1,730,000,000 | 1,952,000,000 | 2,338,000,000 |
| Change in deferred income taxes | -639,000,000 | -1,209,000,000 | -1,300,000,000 |
| Stock based compensation | 310,000,000 | 301,000,000 | 278,000,000 |
| Operating cash flow | 7,818,000,000 | 8,667,000,000 | 8,406,000,000 |
| Capex | 1,525,000,000 | 1,400,000,000 | 1,479,000,000 |
| Acquisitions net of cash acquired | 4,037,000,000 | 3,132,000,000 | 3,660,000,000 |
| Investing cash flow | -4,047,000,000 | -5,841,000,000 | -5,142,000,000 |
| Net proceeds from issuance of debt | 7,759,000,000 | 1,204,000,000 | 5,942,000,000 |
| Repayment of debt | 2,412,000,000 | 3,607,000,000 | 5,782,000,000 |
| Share repurchases | 3,000,000,000 | 4,000,000,000 | 3,000,000,000 |
| Dividends paid | 636,000,000 | 583,000,000 | 523,000,000 |
| Financing cash flow | 1,801,000,000 | -6,792,000,000 | -3,622,000,000 |
| Cash and equivalents and restricted cash at end of period | 9,879,000,000 | 4,040,000,000 | 8,097,000,000 |
| Free cash flow | 6,293,000,000 | 7,267,000,000 | 6,927,000,000 |
| Segments | |||
| Life sciences solutions | |||
| Revenues from external customers | 8,781,000,000 | 8,160,000,000 | 8,545,000,000 |
| Segment income | 3,768,000,000 | 3,503,000,000 | 3,420,000,000 |
| Analytical instruments | |||
| Revenues from external customers | 7,353,000,000 | 7,267,000,000 | 7,101,000,000 |
| Segment income | 1,736,000,000 | 1,955,000,000 | 1,908,000,000 |
| Specialty diagnostics | |||
| Revenues from external customers | 4,604,000,000 | 4,449,000,000 | 4,324,000,000 |
| Segment income | 1,256,000,000 | 1,159,000,000 | 1,124,000,000 |
| Laboratory products and biopharma services | |||
| Revenues from external customers | 23,818,000,000 | 23,002,000,000 | 22,888,000,000 |
| Segment income | 3,350,000,000 | 3,090,000,000 | 3,358,000,000 |
| Total revenues from external customers | 44,556,000,000 | 42,879,000,000 | 42,857,000,000 |
| Total segment income | 10,109,000,000 | 9,707,000,000 | 9,810,000,000 |
| Revenue by geography | |||
| United states | 22,240,000,000 | 21,755,000,000 | 22,013,000,000 |
| Other | 22,316,000,000 | 21,124,000,000 | 20,844,000,000 |
| Consolidated revenues | 44,556,000,000 | 42,879,000,000 | 42,857,000,000 |
TMO quarterly income statement, balance sheet and cash flow
| Q2 FY2026 | Q2 FY2025 | |
|---|---|---|
| Label | Q2 FY2026 | Q2 FY2025 |
| Period start | 2026-03-29 | 2025-03-30 |
| Period end | 2026-06-27 | 2025-06-28 |
| Period type | three months | three months |
| Source accession | 0000097745-26-000144 | 0000097745-26-000144 |
| Income statement | ||
| Product revenues | 6,823,000,000 | 6,249,000,000 |
| Service revenues | 5,171,000,000 | 4,605,000,000 |
| Total revenues | 11,994,000,000 | 10,855,000,000 |
| Cost of product revenues | 3,462,000,000 | 3,239,000,000 |
| Cost of service revenues | 3,650,000,000 | 3,207,000,000 |
| Selling general and administrative expenses | 2,333,000,000 | 2,140,000,000 |
| Research and development expenses | 364,000,000 | 352,000,000 |
| Restructuring and other costs | 98,000,000 | 82,000,000 |
| Total costs and operating expenses | 9,907,000,000 | 9,021,000,000 |
| Operating income | 2,087,000,000 | 1,834,000,000 |
| Interest income | 207,000,000 | 297,000,000 |
| Interest expense | -401,000,000 | -404,000,000 |
| Other income expense | 31,000,000 | -19,000,000 |
| Income before income taxes | 1,924,000,000 | 1,709,000,000 |
| Provision for income taxes | -167,000,000 | -92,000,000 |
| Equity in losses of unconsolidated entities | -15,000,000 | 2,000,000 |
| Net income | 1,741,000,000 | 1,618,000,000 |
| Net income attributable to noncontrolling interests | 5,000,000 | 2,000,000 |
| Net income attributable to shareholders | 1,736,000,000 | 1,617,000,000 |
| Basic EPS | 4.68 | 4.28 |
| Diluted EPS | 4.68 | 4.28 |
| Basic shares | 371,000,000 | 378,000,000 |
| Diluted shares | 371,000,000 | 378,000,000 |
| Total cost of revenues | 7,112,000,000 | 6,446,000,000 |
| Gross profit | 4,882,000,000 | 4,409,000,000 |
| Dividends declared per share | 0.47 | 0.43 |
| Balance sheet | ||
| Cash and cash equivalents | 4,064,000,000 | |
| Short term investments | 0 | |
| Accounts receivable net | 9,451,000,000 | |
| Inventories | 5,627,000,000 | |
| Contract assets net | 1,688,000,000 | |
| Other current assets | 2,536,000,000 | |
| Total current assets | 23,365,000,000 | |
| Property plant and equipment net | 10,755,000,000 | |
| Acquisition related intangible assets net | 18,606,000,000 | |
| Other assets | 5,616,000,000 | |
| Goodwill | 54,832,000,000 | |
| Total assets | 113,174,000,000 | |
| Short term debt and current maturities | 3,368,000,000 | |
| Accounts payable | 3,268,000,000 | |
| Accrued payroll and employee benefits | 1,694,000,000 | |
| Contract liabilities | 2,918,000,000 | |
| Other accrued expenses | 3,823,000,000 | |
| Total current liabilities | 15,069,000,000 | |
| Deferred income taxes long term | 1,579,000,000 | |
| Other long term liabilities | 4,538,000,000 | |
| Long term debt | 39,181,000,000 | |
| Redeemable noncontrolling interests | 121,000,000 | |
| Common stock | 446,000,000 | |
| Capital in excess of par value | 18,870,000,000 | |
| Retained earnings | 62,194,000,000 | |
| Treasury stock at cost | -26,370,000,000 | |
| Accumulated other comprehensive loss | -2,460,000,000 | |
| Total parent shareholders equity | 52,679,000,000 | |
| Noncontrolling interests | 7,000,000 | |
| Total equity | 52,686,000,000 | |
| Total liabilities | 60,367,000,000 | |
| Total debt | 42,549,000,000 | |
| Net debt | 38,485,000,000 | |
| Common shares issued | 445,673,899 | |
| Treasury shares | 75,926,613 | |
| Common shares outstanding | 369,747,286 | |
| Cash flow | ||
| Capex | 450,000,000 | 294,000,000 |
| Segments | ||
| Life sciences solutions | ||
| Revenues from external customers | 2,355,000,000 | 2,115,000,000 |
| Segment income | 1,041,000,000 | 919,000,000 |
| Analytical instruments | ||
| Revenues from external customers | 1,799,000,000 | 1,669,000,000 |
| Segment income | 424,000,000 | 325,000,000 |
| Specialty diagnostics | ||
| Revenues from external customers | 1,188,000,000 | 1,118,000,000 |
| Segment income | 334,000,000 | 306,000,000 |
| Laboratory products and biopharma services | ||
| Revenues from external customers | 6,652,000,000 | 5,953,000,000 |
| Segment income | 936,000,000 | 825,000,000 |
| Total revenues from external customers | 11,994,000,000 | 10,855,000,000 |
| Total segment income | 2,735,000,000 | 2,375,000,000 |
TMO year-to-date income statement and cash flow
| Six months ended June 27, 2026 | |
|---|---|
| Label | Six months ended June 27, 2026 |
| Period start | 2026-01-01 |
| Period end | 2026-06-27 |
| Period type | six months |
| Source accession | 0000097745-26-000144 |
| Income statement | |
| Product revenues | 13,100,000,000 |
| Service revenues | 9,899,000,000 |
| Total revenues | 22,999,000,000 |
| Cost of product revenues | 6,723,000,000 |
| Cost of service revenues | 6,964,000,000 |
| Selling general and administrative expenses | 4,514,000,000 |
| Research and development expenses | 700,000,000 |
| Restructuring and other costs | 147,000,000 |
| Total costs and operating expenses | 19,049,000,000 |
| Operating income | 3,950,000,000 |
| Interest income | 440,000,000 |
| Interest expense | -755,000,000 |
| Other income expense | 22,000,000 |
| Income before income taxes | 3,658,000,000 |
| Provision for income taxes | -238,000,000 |
| Equity in losses of unconsolidated entities | -23,000,000 |
| Net income | 3,397,000,000 |
| Net income attributable to noncontrolling interests | 10,000,000 |
| Net income attributable to shareholders | 3,387,000,000 |
| Basic EPS | 9.11 |
| Diluted EPS | 9.1 |
| Basic shares | 372,000,000 |
| Diluted shares | 372,000,000 |
| Total cost of revenues | 13,687,000,000 |
| Gross profit | 9,312,000,000 |
| Dividends declared per share | 0.94 |
| Cash flow | |
| Net income | 3,397,000,000 |
| Depreciation of property plant and equipment | 638,000,000 |
| Amortization of acquisition related intangible assets | 915,000,000 |
| Change in deferred income taxes | -466,000,000 |
| Stock based compensation | 165,000,000 |
| Operating cash flow | 3,317,000,000 |
| Capex | 826,000,000 |
| Acquisitions net of cash acquired | 8,872,000,000 |
| Investing cash flow | -8,797,000,000 |
| Net proceeds from issuance of debt | 5,238,000,000 |
| Repayment of debt | 1,412,000,000 |
| Share repurchases | 4,000,000,000 |
| Dividends paid | 337,000,000 |
| Financing cash flow | -478,000,000 |
| Cash and equivalents and restricted cash at end of period | 4,096,000,000 |
| Free cash flow | 2,491,000,000 |
| Segments | |
| Life sciences solutions | |
| Revenues from external customers | 4,574,000,000 |
| Segment income | 1,994,000,000 |
| Analytical instruments | |
| Revenues from external customers | 3,466,000,000 |
| Segment income | 779,000,000 |
| Specialty diagnostics | |
| Revenues from external customers | 2,312,000,000 |
| Segment income | 646,000,000 |
| Laboratory products and biopharma services | |
| Revenues from external customers | 12,647,000,000 |
| Segment income | 1,714,000,000 |
| Total revenues from external customers | 22,999,000,000 |
| Total segment income | 5,133,000,000 |
| Prior year comparative | |
| Label | Six months ended June 28, 2025 |
| Period start | 2025-01-01 |
| Period end | 2025-06-28 |
| Period type | six months |
| Source accession | 0000097745-26-000144 |
| Income statement | |
| Product revenues | 12,229,000,000 |
| Service revenues | 8,990,000,000 |
| Total revenues | 21,219,000,000 |
| Cost of product revenues | 6,364,000,000 |
| Cost of service revenues | 6,212,000,000 |
| Selling general and administrative expenses | 4,218,000,000 |
| Research and development expenses | 695,000,000 |
| Restructuring and other costs | 180,000,000 |
| Total costs and operating expenses | 17,668,000,000 |
| Operating income | 3,551,000,000 |
| Interest income | 501,000,000 |
| Interest expense | -707,000,000 |
| Other income expense | -16,000,000 |
| Income before income taxes | 3,329,000,000 |
| Provision for income taxes | -187,000,000 |
| Equity in losses of unconsolidated entities | -12,000,000 |
| Net income | 3,130,000,000 |
| Net income attributable to noncontrolling interests | 6,000,000 |
| Net income attributable to shareholders | 3,124,000,000 |
| Basic EPS | 8.27 |
| Diluted EPS | 8.26 |
| Basic shares | 378,000,000 |
| Diluted shares | 378,000,000 |
| Total cost of revenues | 12,576,000,000 |
| Gross profit | 8,643,000,000 |
| Dividends declared per share | 0.86 |
| Cash flow | |
| Net income | 3,130,000,000 |
| Depreciation of property plant and equipment | 532,000,000 |
| Amortization of acquisition related intangible assets | 859,000,000 |
| Change in deferred income taxes | -601,000,000 |
| Stock based compensation | 156,000,000 |
| Operating cash flow | 2,122,000,000 |
| Capex | 656,000,000 |
| Acquisitions net of cash acquired | 0 |
| Investing cash flow | -815,000,000 |
| Net proceeds from issuance of debt | 2,840,000,000 |
| Repayment of debt | 1,625,000,000 |
| Share repurchases | 2,000,000,000 |
| Dividends paid | 311,000,000 |
| Financing cash flow | -1,093,000,000 |
| Cash and equivalents and restricted cash at end of period | 4,603,000,000 |
| Free cash flow | 1,466,000,000 |
| Segments | |
| Life sciences solutions | |
| Revenues from external customers | 4,069,000,000 |
| Segment income | 1,753,000,000 |
| Analytical instruments | |
| Revenues from external customers | 3,346,000,000 |
| Segment income | 724,000,000 |
| Specialty diagnostics | |
| Revenues from external customers | 2,248,000,000 |
| Segment income | 610,000,000 |
| Laboratory products and biopharma services | |
| Revenues from external customers | 11,556,000,000 |
| Segment income | 1,557,000,000 |
| Total revenues from external customers | 21,219,000,000 |
| Total segment income | 4,644,000,000 |
TMO trailing twelve month income statement and cash flow
| Trailing twelve months ended June 27, 2026 | |
|---|---|
| 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 | 26,836,000,000 |
| Service revenues | 19,501,000,000 |
| Total revenues | 46,336,000,000 |
| Cost of product revenues | 13,764,000,000 |
| Cost of service revenues | 13,665,000,000 |
| Total cost of revenues | 27,429,000,000 |
| Gross profit | 18,907,000,000 |
| Selling general and administrative expenses | 9,028,000,000 |
| Research and development expenses | 1,402,000,000 |
| Restructuring and other costs | 329,000,000 |
| Total costs and operating expenses | 38,191,000,000 |
| Operating income | 8,145,000,000 |
| Interest income | 932,000,000 |
| Interest expense | -1,467,000,000 |
| Other income expense | 26,000,000 |
| Income before income taxes | 7,637,000,000 |
| Provision for income taxes | -598,000,000 |
| Equity in losses of unconsolidated entities | -52,000,000 |
| Net income | 6,988,000,000 |
| Net income attributable to noncontrolling interests | 21,000,000 |
| Net income attributable to shareholders | 6,967,000,000 |
| Diluted EPS | 18.58 |
| Basic EPS | 18.61 |
| Cash flow | |
| Net income | 6,988,000,000 |
| Depreciation of property plant and equipment | 1,156,000,000 |
| Amortization of acquisition related intangible assets | 1,786,000,000 |
| Change in deferred income taxes | -504,000,000 |
| Stock based compensation | 319,000,000 |
| Operating cash flow | 9,013,000,000 |
| Capex | 1,695,000,000 |
| Acquisitions net of cash acquired | 12,909,000,000 |
| Investing cash flow | -12,029,000,000 |
| Net proceeds from issuance of debt | 10,157,000,000 |
| Repayment of debt | 2,199,000,000 |
| Share repurchases | 5,000,000,000 |
| Dividends paid | 662,000,000 |
| Financing cash flow | 2,416,000,000 |
| Free cash flow | 7,318,000,000 |
Adjustments
| Value | |
|---|---|
| Splits applied | none |
| ADR ratio | n/a |
| FX | n/a |
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, capital expenditure, dividends paid, share repurchases, acquisitions net of cash acquired and repayment of debt, 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, 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, purchases of property, plant and equipment, and its six-month total of $826 million agrees with the cash flow statement.
Company details
| Value | |
|---|---|
| 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 |
Fiscal period
| FY2026 | |
|---|---|
| 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 |
FAQ · Thermo Fisher Scientific financial statements
How much revenue did Thermo Fisher Scientific report in Q2 FY2026?
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.
What was Thermo Fisher Scientific's earnings per share in Q2 FY2026?
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%.
Is Thermo Fisher Scientific's profitability improving?
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.
How much debt does Thermo Fisher Scientific have?
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.
Where can I get Thermo Fisher Scientific Inc. (TMO) financial data in machine-readable form?
Ticker Scout publishes Thermo Fisher Scientific Inc.'s financial statements as JSON at https://tickerscout.ai/tmo/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/tmo/narrative.md and https://tickerscout.ai/tmo/events.md. Thermo Fisher Scientific Inc.'s SEC CIK is 0000097745. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.
When does Thermo Fisher Scientific Inc. (TMO) next file with the SEC?
Thermo Fisher Scientific Inc. (TMO) is expected to file its next Form 10-Q with the SEC on or around October 30, 2026. That date is a projection rather than a company-announced date: it is derived from Thermo Fisher Scientific Inc.'s own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q2 FY2026, the period ended 2026-06-27, SEC accession 0000097745-26-000144.
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How this page was built
This page was built from two of Thermo Fisher Scientific Inc.'s own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names five such gaps.
A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.
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Built from Thermo Fisher Scientific Inc.'s SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.