TMO at a glance
Thermo Fisher Scientific (TMO, SEC CIK 97745) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on July 31, 2026, an 8-K current report on July 23, 2026 and Form 4 insider filings as recently as September 29, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Thermo Fisher Scientific (TMO) reported revenue of $44.6 billion (up 3.9% from FY2024) and net income of $6.7 billion. Diluted EPS was $17.74.
- As of June 30, 2026, 64 institutional investment managers tracked by SignalX reported holding Thermo Fisher Scientific (TMO) shares worth $76.5 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Pettiti Gianluca on August 31, 2026 of 400 shares at $614.38 per share.
- In the last 90 days, TMO insiders reported 0 open-market purchases ($0) and 93 open-market sales ($61.6M) on Form 4, a net sale of $61.6M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $44.6B
- +3.9% vs prior year
- Insiders · 90 days
- 0 buys · 93 sells
- Net −$61.6M
- 13F holders
- 64 funds
- $76.5B · −2 vs prior quarter
- Latest 8-K
- Jul 23, 2026
- Item 2.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Management Discussion & Analysis
- Revenue $44,556M, up ~3.9% YoY from $42,879M; Lab Products & Biopharma Services largest segment at $23,984M
- GAAP operating margin 17.4% vs 17.1%; adjusted operating margin 22.7% vs 22.6%; driven by productivity gains offset by tariffs and mix
- Best segment: Specialty Diagnostics margin 26.9% vs 25.7% (+1.2pt); worst: Analytical Instruments margin 23.0% vs 26.2% (-3.2pt) hit by tariffs
- Free cash flow $6,337M vs $7,324M; capex $1,525M; buybacks $3.0B (5.8M shares); dividends $0.64B; total debt rose to $39.4B from $31.3B
- 2026 capex guided $1.8B–$2.0B; GAAP tax rate 7%–9%; risks include academic/government spending hesitancy, China macro weakness, tariff impacts
Business Overview
- Core business: Life sciences tools & services conglomerate serving pharma/biotech, academic, industrial, and healthcare markets across four segments
- Sept 2025 acquisition of Solventum's filtration/separation business (~$4.04B total acquisition spend in 2025) added bioproduction purification tech plus industrial filtration for battery, semiconductor, and medical device markets
- Revenue $44.6B in 2025, up ~4% YoY; adjusted EPS $22.87 vs $21.86; Analytical Instruments segment margin compressed to 23.0% from 26.2% due to tariff impacts and FX headwinds
- Total debt surged to $39.4B from $31.3B YoY, while cash jumped to $9.85B from $4.0B, reflecting $7.76B new debt issuance; $5B share buyback authorized Nov 2025
- Federal government shutdown noted in Oct 2025 as a specific demand risk, with academic/government revenue explicitly declining due to U.S. policy uncertainty and China macro weakness
Risk Factors
- China regulations requiring local suppliers plus tariff volatility directly threaten international revenues, with currency translation adding $0.37B to 2025 revenues
- Outstanding debt ~$39.38B with $5.00B revolving credit facility; covenant requires minimum 3.5:1.0 Consolidated Net Interest Coverage Ratio
- Goodwill and indefinite-lived intangibles total ~$50.59B ($49.36B + $1.23B) on balance sheet, vulnerable to impairment if acquisitions underperform
- FDA and DEA regulatory exposure: sole manufacturer for numerous pharma customers, meaning single negative regulatory event disrupts multiple downstream supply chains
- Sole/limited-source suppliers for certain materials; no quick qualification of replacements if supplier exits, faces bankruptcy, or is hit by sanctions
AI summary of the TMO 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 27, 2026
Management Discussion & Analysis
- Q2 revenue $11,994M, up 10% YoY from $10,855M; organic growth 5%
- GAAP operating margin 17.4% vs 16.9% YoY; adjusted margin 22.8% vs 21.9%
- Best segment Laboratory Products and Biopharma Services: revenue $6,693M, up 12%; worst Analytical Instruments: $1,847M, up 7%
- Cash $4,064M vs $9,852M at year-end; debt $42,549M vs $39,384M
- Six-month operating cash flow $3,317M vs $2,122M; acquisitions used $8.87B, buybacks $4.00B, dividends $0.34B
- Outlook: 2026 GAAP tax rate 9%-11%, adjusted tax rate approximately 11.5%, capital expenditures $1.9B-$2.1B
Risk Factors
- No material risk-factor changes; quarterly filing refers investors to the December 31, 2025 Form 10-K
- Capital-allocation risk; $1.0 billion remained available under the $5.00 billion repurchase authorization
- Insider-trading compliance risk; CEO modified a Rule 10b5-1 plan covering 108,888 shares
- Insider-trading compliance risk; COO adopted a Rule 10b5-1 plan covering 12,400 shares
AI summary of the TMO 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.02: Results of Operations and Financial Condition
- Q2 fiscal 2026 results announced for quarter ended June 27, 2026
- Full financial results and management commentary furnished in Exhibit 99.1
Item EX-99.1: Item EX-99.1
- Q2 revenue rose 10% to $11.99B, including 5% organic growth, signaling broadening customer demand across end markets
- Adjusted EPS increased 13% to $6.03, while adjusted operating margin expanded to 22.8% from 21.9%
Item 5.07: Submission of Matters to a Vote of Security Holders
- All 11 director nominees elected for one-year terms ending at the 2027 annual meeting
- CEO Marc Casper reelected with 294,015,478 votes for and 20,501,640 against
Item 2.02: Results of Operations and Financial Condition
- Q1 fiscal 2026 results announced April 23, 2026, covering quarter ended March 28, 2026
- Full financial results and management commentary furnished in Exhibit 99.1
Item EX-99.1: Item EX-99.1
- Q1 revenue $11.01B, up 6%; organic growth only 1%, with acquisitions contributing 3% and currency 2%
- GAAP diluted EPS $4.43, up 11%; adjusted EPS $5.44, up 6%
AI summaries of TMO 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for TMO
Don't miss the next TMO filing
- Alerts as it files. A push when TMO files an 8-K or an insider trades.
- Fund moves. Which tracked funds opened, added or cut TMO, by share count.
- Ask anything. An AI agent that reads every TMO filing and answers with sources.
TMO alerts on your phone. Follow it in the SignalX Android app.
Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| SPERLING SCOTT M | A | Sep 26, 2026 | 62.96 | - |
| Lynch Karen S | A | Sep 26, 2026 | 46.3 | - |
| Keith R. Alexandra | A | Sep 26, 2026 | 46.3 | - |
| WEISLER DION J | A | Sep 26, 2026 | 55.56 | - |
| JOHNSON JENNIFER M | A | Sep 26, 2026 | 46.3 | - |
| Pettiti Gianluca | M | Aug 31, 2026 | 3,733 | - |
| Pettiti Gianluca | M | Aug 31, 2026 | 3,733 | $309.63 |
| Pettiti Gianluca | Sell | Aug 31, 2026 | 400 | $614.38 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | $42.9B | $42.9B | $44.6B |
| Operating Income | - | $7.3B | $7.7B |
| Net Income | $6.0B | $6.3B | $6.7B |
| Op. Margin | - | 17.1% | 17.4% |
| Net Margin | 14.0% | 14.8% | 15.0% |
| Balance Sheet | |||
| Total Assets | - | $97.3B | $110.3B |
| Equity | $46.7B | $49.6B | $53.4B |
| ROE | 12.8% | 12.8% | 12.6% |
| Per Share | |||
| EPS | - | $16.53 | $17.74 |
| Cash Flow | |||
| Operating CF | - | $8.7B | $7.8B |
| CapEx | $1.5B | $1.4B | $1.5B |
Source: XBRL data in Thermo Fisher Scientific (TMO)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate TMO share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 64 | $76.48B |
| Q1 2026 | 66 | $73.33B |
| Q4 2025 | 61 | $85.27B |
| Q3 2025 | 61 | $75.11B |
| Q2 2025 | 59 | $57.75B |
| Q1 2025 | 57 | $53.02B |
| Q4 2024 | 54 | $42.13B |
| Q3 2024 | 51 | $25.18B |
- FMR LLC (Fidelity)+3.31M (+31%)
- JPMorgan Chase & Co+1.71M (+25%)
- BlackRock+492.4K (+2%)
- Franklin Resources+458.5K (+7%)
- D.E. Shaw & Co+338.8K (+112%)
- Bank of America Corp−1.64M (-30%)
- T. Rowe Price Group−1.20M (-19%)
- Citadel Advisors LLC−289.5K (-33%)
- Goldman Sachs Group−200.2K (-6%)
- Two Sigma Investments−170.9K (-91%)
Source: 13F-HR filings on SEC EDGAR (aggregated from 473 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
TMO filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
8-K current reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Sep 29, 2026 | - | - | - |
| 4 | Sep 29, 2026 | - | - | - |
| 4 | Sep 29, 2026 | - | - | - |
| 4 | Sep 29, 2026 | - | - | - |
| 4 | Sep 29, 2026 | - | - | - |
| 4 | Sep 1, 2026 | - | - | - |
| 4 | Sep 1, 2026 | - | - | - |
| 4 | Sep 1, 2026 | - | - | - |
| 4 | Sep 1, 2026 | - | - | - |
| 4 | Sep 1, 2026 | - | - | - |
| 4 | Sep 1, 2026 | - | - | - |
| 4 | Sep 1, 2026 | - | - | - |
| 4 | Aug 26, 2026 | - | - | - |
| 4 | Aug 24, 2026 | - | - | - |
| 4 | Aug 24, 2026 | - | - | - |
| 4 | Aug 20, 2026 | - | - | - |
| 4 | Aug 13, 2026 | - | - | - |
| 4 | Aug 10, 2026 | - | - | - |
| 4 | Aug 10, 2026 | - | - | - |
| 4 | Aug 7, 2026 | - | - | - |
| 4 | Aug 7, 2026 | - | - | - |
| 4 | Aug 7, 2026 | - | - | - |
| 10-Q | Jul 31, 2026 | Jun 27, 2026 | Analysis | |
| 4 | Jul 28, 2026 | - | - | - |
| 8-K | Jul 23, 2026 | - | Analysis | - |
Related Health Care companies
- TXG · 10x Genomics, Inc.Laboratory Analytical Instruments
- FDMT · 4D Molecular Therapeutics, Inc.Biological Products, (No Diagnostic Substances)
- AARD · Aardvark Therapeutics, Inc.Pharmaceutical Preparations
- ABT · Abbott LaboratoriesPharmaceutical Preparations
- ABBV · AbbVie IncPharmaceutical Preparations
- ABEO · ABEONA THERAPEUTICS INC.Pharmaceutical Preparations
- ABSI · Absci CorpServices-Commercial Physical & Biological Research
- ACHC · Acadia Healthcare Company IncServices-Specialty Outpatient Facilities, NEC
TMO SEC filings: frequently asked questions
Are TMO insiders buying or selling?
In the last 90 days, Thermo Fisher Scientific (TMO) officers, directors and 10% owners reported no open-market purchases and 93 open-market sales worth $61.6 million by 5 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold TMO stock?
As of June 30, 2026, the largest Thermo Fisher Scientific (TMO) holders among the 13F filers tracked by SignalX were BlackRock ($15.5 billion), Vanguard Capital Management LLC ($12.2 billion), State Street Corp ($8.4 billion), FMR LLC (Fidelity) ($7.1 billion), Morgan Stanley ($5.4 billion). 13F-HR reports are filed up to 45 days after each quarter ends.
What was TMO's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Thermo Fisher Scientific (TMO) reported revenue of $44.6 billion (up 3.9% from FY2024) and net income of $6.7 billion. Diluted EPS was $17.74. The figures come from the XBRL data in the 10-K.
What are the main risks in TMO's latest 10-K?
In the 10-K filed February 26, 2026, Thermo Fisher Scientific (TMO) flagged: China regulations requiring local suppliers plus tariff volatility directly threaten international revenues, with currency translation adding $0.37B to 2025 revenues. Outstanding debt ~$39.38B with $5.00B revolving credit facility; covenant requires minimum 3.5:1.0 Consolidated Net Interest Coverage Ratio. (AI summary of the Risk Factors section.)
What did TMO report in its latest 8-K?
Thermo Fisher Scientific (TMO) filed an 8-K on July 23, 2026 reporting Item 2.02 (Results of Operations and Financial Condition). Q2 fiscal 2026 results announced for quarter ended June 27, 2026.
What are the latest TMO SEC filings?
Thermo Fisher Scientific (TMO) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on July 31, 2026, an 8-K current report on July 23, 2026 and a Form 4 insider filing on September 29, 2026.
What is TMO's SEC CIK number?
Thermo Fisher Scientific (TMO)'s SEC Central Index Key (CIK) is 97745. EDGAR lists every TMO filing under that number.
Ask anything about TMO
The research agent reads TMO's filings, financials, insider trades and 13F holders, then answers with sources.