How does Thermo Fisher Scientific (TMO) make money?

Thermo Fisher Scientific (TMO) generates revenue primarily from Consumables, which accounted for 42.1% of total revenue in TTM through Q1 2026. The company reported $45.20B in revenue and converted 15.2% of it into net profit, equivalent to roughly $6.86B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Thermo Fisher Scientific (TMO)?

Thermo Fisher Scientific (TMO) reported a gross profit margin of 39.4% in TTM through Q1 2026, equivalent to $17.81B in gross profit on $45.20B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Thermo Fisher Scientific (TMO)?

Thermo Fisher Scientific (TMO) reported an operating profit margin of 17.8% in TTM through Q1 2026, equivalent to $8.03B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Thermo Fisher Scientific (TMO)?

Thermo Fisher Scientific (TMO) reported a net profit margin of 15.2% in TTM through Q1 2026, equivalent to $6.86B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Thermo Fisher Scientific (TMO) profitable?

Yes. Thermo Fisher Scientific (TMO) reported $6.86B in net income for TTM through Q1 2026, with a net profit margin of 15.2%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Thermo Fisher Scientific (TMO) invest in research and development?

Thermo Fisher Scientific (TMO) invested $1.39B in research and development during TTM through Q1 2026, roughly 3.1% of total revenue. R&D spending funds the company's future product pipeline and is expensed in full on the income statement rather than capitalised, which makes the operating margin sensitive to how aggressively management chooses to reinvest in innovation.

How much does Thermo Fisher Scientific (TMO) spend on capital expenditures?

Thermo Fisher Scientific (TMO) spent $1.54B on capital expenditures (CapEx) during TTM through Q1 2026, roughly 3.4% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Thermo Fisher Scientific (TMO) generate?

Thermo Fisher Scientific (TMO) generated $6.75B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 14.9%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Thermo Fisher Scientific (TMO)?

Thermo Fisher Scientific (TMO) had an effective tax rate of 7.1% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Thermo Fisher Scientific (TMO)?

Thermo Fisher Scientific (TMO) reports revenue across 3 reportable product segments, led by Consumables at 42.1% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does Thermo Fisher Scientific (TMO) generate most of its revenue?

UNITED STATES is the largest geographic market for Thermo Fisher Scientific (TMO), accounting for 51.4% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How Thermo Fisher Scientific Makes Money: 2026 Visual Revenue Map

Thermo Fisher Scientific (TMO) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 28, 2026 (reported May 1, 2026).

Thermo Fisher Scientific (TMO) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Thermo Fisher Scientific (TMO) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Consumables	$19.03B	42.1%
Service	$18.94B	41.9%
Instruments	$7.23B	16%
Total	$45.20B	100%

Consumables$19.03B
Service$18.94B
Instruments$7.23B
Total$45.20B

Thermo Fisher Scientific (TMO) Revenue by Geography — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for Thermo Fisher Scientific (TMO), TTM through Q1 2026
Region	Revenue (USD)	% of total
UNITED STATES	$23.23B	51.4%
Europe	$12.16B	26.9%
Asia Pacific	$8.18B	18.1%
All Other Countries	$1.63B	3.6%
Total	$45.20B	100%

UNITED STATES
Europe
Asia Pacific
All Other Countries
Total

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Thermo Fisher Scientific (TMO) reports revenue across 3 operating segments; the largest segment was Consumables at 42.1%, followed by Service (41.9%) and Instruments (16%). Separately, by end-market geography, UNITED STATES accounted for 51.4% of revenue, followed by Europe (26.9%) and Asia Pacific (18.1%).

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