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Thermo Fisher Scientific (TMO) investor relations material
Thermo Fisher Scientific Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary29 Jan, 2026
Executive summary
Q4 2025 revenue increased 7% year-over-year to $12.21B, with organic growth of 3%, and adjusted EPS up 8% to $6.57.
Full-year 2025 revenue rose 4% to $44.56B, with organic growth of 2%, and adjusted EPS up 5% to $22.87.
GAAP diluted EPS grew 9% in Q4 to $5.21 and 7% for the year to $17.74.
Operational performance was driven by new product launches, strategic collaborations, innovation, and share gains.
Entering 2026 with strong momentum, continued share gains, and a robust growth strategy.
Financial highlights
Q4 adjusted operating income was $2.88B (up 6%), with adjusted operating margin at 23.6%.
Full-year adjusted operating income was $10.11B (up 4%), with adjusted operating margin at 22.7%.
Adjusted gross margin for the year was 41.7%; adjusted SG&A was 15.9% of revenue; R&D expense was $1.4B (7% of manufacturing revenue).
Free cash flow for 2025 was $6.34B; ended year with $10.1B in cash and $39.4B in total debt.
Adjusted ROIC was 11.3%.
Outlook and guidance
2026 revenue guidance: $46.3B–$47.2B (4%–6% growth), with 3%–4% organic growth.
Adjusted EPS guidance: $24.22–$24.80 (6%–8% growth); Clario acquisition could add $0.20–$0.25 EPS if closed mid-2026.
Guidance assumes $600M inorganic revenue from 2025 acquisitions, $500M net interest expense, 11.5% tax rate, and $6.8B–$7.3B free cash flow.
Q1 2026 organic revenue growth expected to be a couple points lower than full year; low single-digit EPS growth in Q1.
Management expects continued share gains and strong operational performance in 2026.
What capabilities does Clario acquisition add?
OpenAI collaboration's strategic objectives?
What drove Laboratory Products segment growth?
Clario acquisition's 2026 EPS contribution
PPI Business System AI integration benefits
US academic/govt spending outlook 2026
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Latest summaries
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Strong growth in customers, profits, and deposits, with stable asset quality and global milestones. - 3407
Net income rose 22.7% year-over-year, with improved financials and a revised upward forecast. - RYM
Refreshed strategy targets NZD 150m cash flow uplift, NZD 500m cash release, and resumed dividends by FY 2028. - 9101
Profits fell across most segments, but energy shipping and a major acquisition stood out. - 4626
Double-digit profit and sales growth, with strong segment results and a stock split impact. - 2371
Revenue up 21.5% YoY, but profit down on higher investments; LiPLUS Holdings acquired. - 3401
Major impairments and divestitures led to a net loss and lower revenue across all segments. - 8002
Profit forecast raised to ¥540.0B and annual dividend to ¥107.50 per share after strong results. - COF
Profit rebounded, NTA and occupancy rose, with strong leasing and premium divestment. - NUF
Statutory loss reported, seeds business repositioned, new CEO appointed, all resolutions passed.
Next Thermo Fisher Scientific earnings date
Q1 202622 Apr, 2026
Thermo Fisher Scientific
Next Thermo Fisher Scientific earnings date
Q1 202622 Apr, 2026
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Frequently asked questions
Supplying Tools for Science
The American company Thermo Fisher Scientific is one of the leaders in the life sciences industry, known for its significant contributions to research, diagnostics, and laboratory technology. With operations across numerous countries, Thermo Fisher offers a broad catalog of products and services, including analytical instruments, consumables, software, and services.
Born From a Merger
The company's roots can be traced back to the merger of Thermo Electron and Fisher Scientific in 2006, a strategic move that created one of the most comprehensive science service companies globally. The aim was to provide a single, reliable source of laboratory equipment, chemicals, software, services, and consumables to the global scientific research and healthcare communities. Thermo Fisher has played an instrumental role in countless groundbreaking research projects, including the Human Genome Project, and it continues to provide equipment for scientists globally.
Products for the Life Science Industry
Thermo Fisher Scientific offers a comprehensive suite of products and services geared toward advancing scientific research and enhancing patient health. They produce laboratory equipment, consumables, reagents, and software that support a variety of scientific procedures, from genetic sequencing to electron microscopy. One standout product is their qPCR systems, used extensively for disease diagnostics and genomics research.
Moreover, they offer analytical instruments crucial for pharmaceutical and biotech companies for drug development and testing. Thermo Fisher's services also include research services, clinical trial solutions, and laboratory management. These services enable researchers to run their experiments and trials in a safe and effective manner by enabling them to focus on areas in which their expertise resides.
Their Customers
Thermo Fisher Scientific caters to a vast array of sectors. In healthcare and life sciences, their products aid drug discovery and development, fueling advancements in medical treatments. Their tools are the silent partners in scientific exploration at universities and research institutions, aiding breakthroughs in fields as diverse as genomics and proteomics.
Government bodies and regulatory agencies utilize their diagnostic tools and software to safeguard public health, a critical role underscored during the COVID-19 pandemic. Some notable publicly traded customers and partners include Novo Nordisk, Pfizer, and Astra Zeneca.
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