How does Thermo Fisher Scientific (TMO) make money?

Thermo Fisher Scientific (TMO) generates revenue primarily from Consumables, which accounted for 42% of total revenue in TTM through Q2 2026. The company reported $46.3B in revenue and converted 15.1% of it into net profit, equivalent to roughly $6.98B 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 40.4% in TTM through Q2 2026, equivalent to $18.7B in gross profit on $46.3B 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 17.7% in TTM through Q2 2026, equivalent to $8.2B 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 15.1% in TTM through Q2 2026, equivalent to $6.98B 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 $6.98B in net income for TTM through Q2 2026, with a net profit margin of 15.1%. 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 $1.4B in research and development during TTM through Q2 2026, roughly 3.0% 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 $1.7B on capital expenditures (CapEx) during TTM through Q2 2026, roughly 3.7% 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 $7.32B in free cash flow during TTM through Q2 2026, a free-cash-flow margin of 15.8%. 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 7.8% in TTM through Q2 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% of total revenue in TTM through Q2 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.

How Thermo Fisher Scientific Makes Money: 2026 Visual Revenue Map

Thermo Fisher Scientific (TMO) Income Statement Flow — TTM through Q2 2026

Calculated from the four most recent reported quarters, ending June 27, 2026 (reported July 23, 2026).

Thermo Fisher Scientific discloses geographic revenue only in annual filings. to view the full breakdown.

Thermo Fisher Scientific (TMO) Revenue by Product Segment — TTM through Q2 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), TTM through Q2 2026.
Segment	Revenue (USD)	% of total
Consumables	$19.5B	42%
Service	$19.3B	41.7%
Instruments	$7.54B	16.3%
Total	$46.3B	100%

Consumables$19.5B
Service$19.3B
Instruments$7.54B
Total$46.3B

Revenue Breakdown — TTM through Q2 2026

In TTM through Q2 2026, Thermo Fisher Scientific (TMO) reports revenue across 3 reportable product segments; the largest segment was Consumables at 42%, followed by Service (41.7%) and Instruments (16.3%).

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