Thermo Fisher Scientific
Supplies laboratory tools, diagnostics, and outsourced drug-development and manufacturing services.
Something off on this page? Send us feedback.
Profile
Supplies life-science tools, analytical instruments, diagnostics, laboratory products, and outsourced clinical-development and drug-manufacturing services worldwide. A broad portfolio of proprietary products, third-party distribution, and regulated services ties demand to pharmaceutical and biotech research, laboratory capital spending, and government funding.
Supplies research, clinical, and industrial laboratories with instruments, reagents, consumables, diagnostics, software, and outsourced drug-development services through a global direct-sales and distribution network.
Life Sciences Solutions covers biosciences, genetic analysis, and bioproduction; Analytical Instruments spans chromatography, mass spectrometry, chemical analysis, and electron microscopy. Specialty Diagnostics provides clinical and immunodiagnostic products, while Laboratory Products and Biopharma Services combines Fisher Scientific distribution with Patheon manufacturing, PPD clinical research, and Clario trial-endpoint data.
The broad portfolio serves pharmaceutical and biotech, healthcare, academic, government, semiconductor, environmental, and industrial markets, with roughly half of revenue generated outside the United States. Demand depends on customer research and capital budgets and government funding, while diagnostics, clinical research, and drug manufacturing operate under extensive quality and regulatory requirements.
Company facts
Key statistics
Year to date +5.0% · Average volume (30d) 2.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 5, 2026 | Stifel Nicolaus | Target | $600 | $650 | ||
| Jul 27, 2026 | Piper Sandler | Reiterate | Neutral | $510 | $600 | |
| Jul 24, 2026 | Morgan Stanley | Reiterate | Overweight | $620 | $650 | |
| Jul 24, 2026 | RBC Capital | Reiterate | Sector Perform | $490 | $580 | |
| Jul 23, 2026 | Jefferies | Reiterate | Buy | $540 | $630 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 23, 2026Q2 FY26 | $5.72 | $6.03 | +5.4% | $11.71B | $11.99B | +2.5% | −0.71% |
| Apr 23, 2026Q1 FY26 | $5.25 | $5.44 | +3.6% | $10.86B | $11.01B | +1.3% | +0.64% |
| Jan 29, 2026Q4 FY25 | $6.45 | $6.57 | +1.9% | $11.95B | $12.22B | +2.2% | −2.29% |
| Oct 22, 2025Q3 FY25 | $5.50 | $5.79 | +5.3% | $10.92B | $11.12B | +1.9% | +0.83% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $10.36B | $10.86B | $11.12B | $12.22B | $11.01B | $11.99B | |
| Gross profit | $4.25B | $4.05B | $4.65B | $4.64B | $4.48B | $4.94B | |
| Operating income | $1.84B | $1.92B | $1.94B | $2.30B | $1.86B | $2.09B | |
| Net income | $1.51B | $1.62B | $1.62B | $1.98B | $1.65B | $1.74B | |
| Diluted EPS | $3.98 | $4.28 | $4.27 | $5.21 | $4.43 | $4.68 | |
| Gross margin | 41.0% | 37.3% | 41.8% | 38.0% | 40.7% | 41.2% | |
| Operating margin | 17.8% | 17.7% | 17.5% | 18.8% | 16.9% | 17.4% |
Fiscal years (4-quarter sums)FY21 $39.21B · FY22 $44.92B · FY23 $42.86B · FY24 $42.88B · FY25 $44.56B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 27, 2026Cash & short-term investments $4.06B · Total debt $42.55B · Total assets $113.17B · Shareholders' equity $52.68B
Dividends
Raised for 13 straight years — most recently to $0.47 from $0.43 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 15, 2026 | Jun 15 | Jul 15 | $0.47 | |
| Mar 13, 2026 | Mar 13 | Apr 15 | $0.47 | raised from $0.43 |
| Dec 15, 2025 | Dec 15 | Jan 15 | $0.43 | |
| Sep 15, 2025 | Sep 15 | Oct 15 | $0.43 | |
| Jun 13, 2025 | Jun 13 | Jul 15 | $0.43 | |
| Mar 14, 2025 | Mar 14 | Apr 15 | $0.43 | raised from $0.39 |
| Dec 13, 2024 | Dec 13 | Jan 15 | $0.39 | |
| Sep 13, 2024 | Sep 13 | Oct 15 | $0.39 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 371.62M · Float 370.65M · 99.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 30.92M | 8.32% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 24.28M | 6.53% | 13F | Aug 13, 2026 |
| State Street Corp | 16.83M | 4.53% | 13F | Aug 7, 2026 |
| FMR LLC | 14.08M | 3.79% | 13F | Aug 13, 2026 |
| Morgan Stanley | 10.76M | 2.90% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 24, 2026 | Marc N. Casper | director, officer: Chairman & CEO | −275 | $627.05 |
| Aug 21, 2026 | Marc N. Casper | director, officer: Chairman & CEO | −10,000 | $626.92 |
| Aug 20, 2026 | Marc N. Casper | director, officer: Chairman & CEO | −10,000 | $629.27 |
| Aug 19, 2026 | Lisa P. Britt | officer: Sr. VP and Chief HR Officer | −11,440 | $613.12 |
| Aug 11, 2026 | Michael D. Shafer | officer: Executive Vice President | −14,300 | $600.00 |
Peers
- Danaher
Broadest portfolio peer across bioprocessing, diagnostics, and instruments.
- IQVIA
World's largest CRO — head-to-head with TMO's PPD clinical research unit.
- Agilent Technologies
Primary analytical instruments rival in chromatography, mass spec, and services.
- Waters
LC and LC-MS specialist competing in the Analytical Instruments segment.
- QIAGEN
Molecular diagnostics specialist in sample prep, PCR, and NGS.
- Illumina
NGS market leader — contests Ion Torrent and Applied Biosystems sequencing.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Thermo Fisher Scientific | $620.01 | −0.32% | $231.22B | 33.5 | 23.7 | 5.0 | +10.5% |
| Danaher | $215.50 | −0.25% | $151.89B | 38.4 | 24.3 | 6.0 | +5.5% |
| IQVIA | $261.75 | +0.03% | $43.08B | 32.5 | 19.2 | 2.5 | +8.7% |
| Agilent Technologies | $153.84 | +0.02% | $43.45B | 30.3 | 23.8 | 5.9 | +8.1% |
| Waters | $414.33 | −0.03% | $31.02B | 103.4 | 26.5 | 6.7 | +113.3% |
| QIAGEN | $43.00 | −0.28% | $8.89B | 22.1 | 17.3 | 4.2 | +0.3% |
| Illumina | $215.70 | +0.02% | $32.62B | 40.2 | 37.6 | 7.3 | +9.4% |
| Median | 35.4 | 24.1 | 6.0 | +8.4% |