Buyback yield (TTM)
4.73%
Shareholder yield (TTM)
5.08%
5Y share count change
-5.5%
Buyback spend (TTM)
$9B
Cumulative buybacks
$28.6B
Key takeaways
- Thermo Fisher Scientific (TMO) repurchased about $9B of stock over the trailing twelve months.
- Diluted share count is down 5.5% over the last ~5 fiscal years — buybacks are net-shrinking the share base.
- TTM buyback ÷ stock-based-comp ratio of 107.14× — repurchases more than cover SBC dilution.
- Cash buyback spend has compounded at +14.9% per year over the latest 5-year window.
- TTM repurchases used about 135% of free cash flow remaining after dividends.
Dividend & buyback yield over time for Thermo Fisher Scientific (TMO)
Stacked annual yields — buyback yield (TTM cash repurchases ÷ market cap) plus dividend yield from the same fiscal-year-end key-metrics period — show how total cash return per dollar of equity has evolved.
Diluted vs basic shares (annual) for Thermo Fisher Scientific (TMO)
Diluted weighted-average shares are the EPS denominator — a falling count means buybacks are outpacing SBC dilution.
Year-over-year change in diluted shares for Thermo Fisher Scientific (TMO)
Green is fewer shares vs the prior fiscal year (net repurchase); red is growth (dilution). The earliest year shown has no prior year to compare.
Cash buyback spend over time for Thermo Fisher Scientific (TMO)
Latest: $3B
Overview
The 2025 reading of Thermo Fisher Scientific (TMO) buyback spend is $3B – declined 25.0% year-over-year.
Over 2020–2025 (5 years), Thermo Fisher Scientific buyback spend expanded at a +14.9% compound annual rate, with mixed annual results across the window.
Thermo Fisher Scientific buyback spend peaked at $4B in 2024; the latest annual figure is $3B in 2025 (25.0% below peak).
The highest annual buyback spend of $4B was reported in 2024. The lowest in the available history was $0.00 in 2000.
Thermo Fisher Scientific Buyback Spend 2025: $3B
Thermo Fisher Scientific buyback spend in 2025 was $3B, declined 25.0% below 2024.
Thermo Fisher Scientific Buyback Spend 2024: $4B
2024's buyback spend for Thermo Fisher Scientific came in at $4B, surged 33.3% from 2023. This figure represents the highest annual value in the available history.
Thermo Fisher Scientific Buyback Spend 2023: $3B
Thermo Fisher Scientific posted buyback spend of $3B in 2023, edged up 0.0% from 2022.
Thermo Fisher Scientific Buyback Spend 2022: $3B
In 2022, Thermo Fisher Scientific reported buyback spend of $3B, surged 50.0% from 2021.
Thermo Fisher Scientific Buyback Spend 2021: $2B
Thermo Fisher Scientific buyback spend in 2021 was $2B.
See more financial history for Thermo Fisher Scientific (TMO).
Buyback, SBC & dilution history
Buyback spend, SBC, net dilution effect, and share count.
| 2025 | $3B | $310M | $2.69B | 1.38% | 377M | -1.6% | |
| 2024 | $4B | $301M | $3.7B | 2.01% | 383M | -1.3% | |
| 2023 | $3B | $278M | $2.72B | 1.46% | 388M | -1.5% | |
| 2022 | $3B | $307M | $2.69B | 1.39% | 394M | -0.8% | |
| 2021 | $2B | $230M | $1.77B | 0.76% | 397M | -0.5% | |
| 2020 | $1.5B | $196M | $1.3B | 0.81% | 399M | -1.0% | |
| 2019 | $1.5B | $181M | $1.32B | 1.16% | 403M | -0.7% | |
| 2018 | $500M | $181M | $319M | 0.56% | 406M | +2.0% | |
| 2017 | $750M | $159M | $591M | 0.99% | 398M | +0.2% | |
| 2016 | $1.25B | $134M | $1.12B | 2.25% | 397M | -1.1% | |
| 2015 | $500M | $125M | $375M | 0.88% | 402M | -0.1% | |
| 2014 | $0.00 | $117M | -$117M | — | 402M | +10.0% | |
| 2013 | $89.8M | $90.9M | -$1.1M | 0.22% | 366M | -0.2% | |
| 2012 | $1.15B | $78.2M | $1.07B | 5.04% | 367M | -4.7% | |
| 2011 | $1.34B | $80.2M | $1.26B | 7.97% | 385M | -6.0% | |
| 2010 | $1.01B | $83.1M | $929M | 4.71% | 409M | -3.2% | |
| 2009 | $415M | $68.1M | $347M | 2.12% | 423M | -2.7% | |
| 2008 | $187M | $57.1M | $130M | 1.32% | 435M | -2.0% | |
| 2007 | $898M | $51.1M | $847M | 3.73% | 444M | +117.8% | |
| 2006 | $300M | $1.76M | $298M | 1.58% | 204M | +23.2% | |
| 2005 | $0.00 | $0.00 | $0.00 | — | 165M | -1.4% | |
| 2004 | $0.00 | $0.00 | $0.00 | — | 168M | -1.8% | |
| 2003 | $88.9M | $0.00 | $88.9M | 2.13% | 171M | -4.6% | |
| 2002 | $334M | $0.00 | $334M | 10.20% | 179M | -3.2% | |
| 2001 | $511M | $0.00 | $511M | 12.30% | 185M | +12.7% | |
| 2000 | $0.00 | $0.00 | $0.00 | — | 164M | +3.7% | |
| 1999 | $190M | $0.00 | $190M | — | 158M | -6.1% | |
| 1998 | $471M | $0.00 | $471M | — | 168M | -0.8% | |
| 1997 | $122M | $0.00 | $122M | — | 170M | -3.4% | |
| 1996 | $141M | $0.00 | $141M | — | 176M | — | |
| 1995 | $97.8M | $0.00 | $97.8M | — | — | — | |
| 1994 | $102M | $0.00 | $102M | — | — | — | |
| 1993 | $57.2M | $0.00 | $57.2M | — | — | — | |
| 1992 | $45.3M | $0.00 | $45.3M | — | — | — | |
| 1991 | $11.7M | $0.00 | $11.7M | — | — | — | |
| 1990 | $26.5M | $0.00 | $26.5M | — | — | — | |
| 1989 | $8.1M | $0.00 | $8.1M | — | — | — |
- 2025$3B
- 2024$4B
- 2023$3B
- 2022$3B
- 2021$2B
- 2020$1.5B
- 2019$1.5B
- 2018$500M
- 2017$750M
- 2016$1.25B
- 2015$500M
- 2014$0.00
- 2013$89.8M
- 2012$1.15B
- 2011$1.34B
- 2010$1.01B
- 2009$415M
- 2008$187M
- 2007$898M
- 2006$300M
- 2005$0.00
- 2004$0.00
- 2003$88.9M
- 2002$334M
- 2001$511M
- 2000$0.00
- 1999$190M
- 1998$471M
- 1997$122M
- 1996$141M
- 1995$97.8M
- 1994$102M
- 1993$57.2M
- 1992$45.3M
- 1991$11.7M
- 1990$26.5M
- 1989$8.1M
Buybacks vs stock-based compensation for Thermo Fisher Scientific (TMO)
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: 107.14×.
Buybacks vs dividends (share of cash returned) for Thermo Fisher Scientific (TMO)
How Thermo Fisher Scientific splits cash returned to shareholders between dividends and buybacks.
Sector peers by buyback spend
Companies in the same sector as Thermo Fisher Scientific, ranked by their latest buyback spend.
| $5.95B | |
| $5.55B | |
| $5.08B | |
| $4.11B | |
| $980M | |
| $893M | |
| $216M | |
| $0.00 |
- $5.95B
- $5.55B
- $5.08B
- $4.11B
- $980M
- $216M
- $0.00
Buyback capacity (TTM)
Free cash flow minus dividends paid versus actual TTM repurchases — the headroom bar shows how much of post-dividend FCF is still being deployed elsewhere.
Headroom $6.66B (TTM FCF − TTM dividends, clamped at zero).
Frequently asked questions
Data & methodology
Explore more
Deep-dives across the income statement, cash flow, capital return, and valuation
- Buybacks4.73% TTM
- Dividend Profile0.31% yield
- Dividend Calculator
- Dividend Forecast
- Dividend Capture
- Stock Split History8 splits
How this company returns cash to shareholders — buybacks, dividends, and stock splits.