Thermo Fisher Scientific Inc.
TMONYSE
$667.55
Last price · USD
- Market cap
- $251.7B
- P/E
- 37.6x
- EV / EBITDA
- 24.5x
- P/S
- 5.6x
- FCF yield
- 2.5%
- Div. yield
- 0.25%
Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.
Thermo Fisher Scientific Inc. cash flow statement
Annual · USD millions except per-share data · 36 lines
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 | CAGR | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | 6,721 | 6,338 | 5,995 | 6,960 | 7,728 | -3.4% | |
| Depreciation & amortization | 2,780 | 3,108 | 3,406 | 3,381 | 2,592 | +1.8% | |
| Deferred income tax | (639) | (1,209) | (1,300) | (995) | (406) | — | |
| Stock-based compensation | 310 | 301 | 278 | 307 | 230 | +7.7% | |
| Change in working capital | (1,766) | (334) | (537) | (1,049) | (1,558) | — | |
| Accounts receivables | (426) | (171) | 209 | (430) | (204) | — | |
| Inventory | (74) | (27) | 598 | (825) | (1,065) | — | |
| Accounts payables | 421 | 212 | (500) | 648 | 479 | -3.2% | |
| Other working capital | (1,687) | (348) | (844) | (442) | (768) | — | |
| Other non-cash items | 412 | 463 | 564 | 550 | 957 | -19.0% | |
| Net cash from operating activities | 7,818 | 8,667 | 8,406 | 9,154 | 9,543 | -4.9% | |
| Operating cash flow | 7,818 | 8,667 | 8,406 | 9,154 | 9,543 | -4.9% | |
| Investing activities | |||||||
| Investments in PP&E | (1,525) | (1,400) | (1,479) | (2,243) | (2,523) | — | |
| Capital expenditure | (1,525) | (1,400) | (1,479) | (2,243) | (2,523) | — | |
| Acquisitions, net | (4,037) | (3,132) | (3,660) | (39) | (19,395) | — | |
| Purchases of investments | (383) | (3,396) | 0 | (15) | (8) | — | |
| Sales / maturities of investments | 1,565 | 1,770 | 70 | 15 | 8 | +274.0% | |
| Other investing activities | 333 | 317 | (73) | 123 | (14) | — | |
| Net cash from investing activities | (4,047) | (5,841) | (5,142) | (2,159) | (21,932) | — | |
| Financing activities | |||||||
| Net debt issuance | 5,347 | (2,403) | (155) | 654 | 8,911 | -12.0% | |
| Short-term net debt issuance | 0 | 0 | (315) | (2,164) | 2,512 | — | |
| Long-term net debt issuance | 5,347 | (2,403) | 160 | 2,818 | 6,399 | -4.4% | |
| Net stock issuance | (3,000) | (4,000) | (3,000) | (3,000) | (2,000) | — | |
| Common stock repurchased | (3,000) | (4,000) | (3,000) | (3,000) | (2,000) | — | |
| Net common stock issuance | (3,000) | (4,000) | (3,000) | (3,000) | (2,000) | — | |
| Common dividends paid | (636) | (583) | (523) | (455) | (395) | — | |
| Net dividends paid | (636) | (583) | (523) | (455) | (395) | — | |
| Other financing activities | 90 | 194 | 56 | (9) | 65 | +8.5% | |
| Net cash from financing activities | 1,801 | (6,792) | (3,622) | (2,810) | 6,581 | -27.7% | |
| Cash summary | |||||||
| Effect of forex changes on cash | 267 | (91) | (82) | (139) | (37) | — | |
| Net change in cash | 5,839 | (4,057) | (440) | 4,046 | (5,845) | — | |
| Cash at beginning of period | 4,040 | 8,097 | 8,537 | 4,491 | 10,336 | -20.9% | |
| Cash at end of period | 9,879 | 4,040 | 8,097 | 8,537 | 4,491 | +21.8% | |
| Free cash flow | 6,293 | 7,267 | 6,927 | 6,911 | 7,020 | -2.7% | |
| Income taxes paid | 0 | 1,834 | 1,482 | 1,234 | 2,182 | — | |
| Interest paid | 0 | 1,570 | 1,385 | 667 | 555 | — | |