TMO Thermo Fisher Scientific

FY2025 10-K
Filed: Feb 26, 2026
Health Care
Measuring & Controlling Devices, NECSEC EDGAR

Thermo Fisher Scientific (TMO) filed its fiscal year 2025 10-K annual report with the SEC on Feb 26, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.

AI Filing Analysis
FY2025 10-K

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
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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
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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
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Financial Summary
XBRL

Revenue

$44.6B

Net Income

$6.7B

Operating Margin

17.4%

Net Margin

15.0%

ROE

12.6%

Total Assets

$110.3B

EPS (Diluted)

$17.74

Operating Cash Flow

$7.8B

Source: XBRL data from Thermo Fisher Scientific FY2025 10-K filing on SEC EDGAR. All figures in USD.

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