← Research LibraryThe BriefFY2025 10-K · headline figures audited against SEC data
Thermo Fisher, the lab-supply and pharma-services giant, grew revenue 3.9% to $44.56B and net income 5.8% to $6.70B, but free cash flow fell 13.4% to $6.29B as debt rose 26.1% ahead of more acquisitions
The read at a glance✓ Audited against SEC data
- Growth — Revenue up 3.9% to $44.56B; 2% organic by the company's measureNote
- Profitability — Operating margin up 27 bps to 17.38%; net income up 5.8%OK
- Cash flow — Free cash flow down 13.4% to $6.29B; operating cash flow down 9.8%Watch
- Balance sheet — Total debt up 26.1% to $39.17B; Clario purchase pendingWatch
- Accounting — No manipulation flag; earnings quality safe; clean auditOK
- Capital allocation — Acquisitions first: $4.04B spent, plus $3.00B buybacks and $0.64B dividendsNote
Business
Thermo Fisher sells the tools, consumables and outsourced services that drug makers, hospitals, diagnostic labs, universities and industrial labs run on, under brands including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Patheon and PPD. Its largest segment, Laboratory Products and Biopharma Services, combines lab-supply distribution with contract drug manufacturing and clinical research.
Where the revenue comes from
Fiscal 2025, as THERMO FISHER SCIENTIFIC INC. reports it. History and quarterly detail are in the app.
- Laboratory Products and Biopharma Services$24.0B
- Life Sciences Solutions$10.4B
- Analytical Instruments$7.6B
- Specialty Diagnostics$4.7B
Leadership changes
From THERMO FISHER SCIENTIFIC INC.'s own filings, the day they're filed.
- Michel Lagarde · Chief Operating Officer · departureeff. 2026-03-31
- Frederick M. Lowery · President and Chief · departureeff. 2026-03-31
- Michael Shafer · Chief Executive Officer · appointment
Latest filings
- 10-Q · Quarterly report2026-07-31
- 8-K · Company announcement2026-07-23
- 8-K · Company announcement2026-05-26
- 10-Q · Quarterly report2026-05-01
- 8-K · Company announcement2026-04-23
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about THERMO FISHER SCIENTIFIC INC., every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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