Thermo Fisher Scientific 8-K
PositiveEarningsGuidance deferred to the call
M&A commitments totaled $13B in 2025; acquisitions and currency supplemented organic revenue growth.
Filed 2026-01-29 06:02 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q4 and FY2025 results with 2026 guidance to follow on the earnings call. Revenue grew 7% in Q4 and 4% for the year, while GAAP and adjusted EPS increased in both periods. Thermo Fisher reported ≈$16.5B in 2025 capital deployment, including $13B committed to M&A.
Key Figures
| Metric | Q4 2025 | Q4 2024 | Y/Y |
|---|---|---|---|
| Revenue | $12.2B | $11.4B | +7% |
| Organic revenue growth, non-GAAP | 3% | — | — |
| GAAP operating income | $2.26B | $2.02B | +12% |
| Adjusted operating income, non-GAAP | $2.88B | $2.72B | +6% |
| Net income attributable to Thermo Fisher Scientific Inc. | $1.96B | $1.83B | +7% |
| Diluted EPS | $5.21 | $4.78 | +9% |
| Adjusted EPS, non-GAAP | $6.57 | $6.10 | +8% |
| Net cash provided by operating activities | $3.46B | $3.29B | +5% |
| Free cash flow, non-GAAP | $3.02B | $2.83B | +7% |
| Metric | FY2025 | FY2024 | Y/Y |
|---|---|---|---|
| Revenue | $44.6B | $42.9B | +4% |
| Organic revenue growth, non-GAAP | 2% | — | — |
| GAAP operating income | $7.75B | $7.34B | +6% |
| Adjusted operating income, non-GAAP | $10.1B | $9.71B | +4% |
| Net income attributable to Thermo Fisher Scientific Inc. | $6.70B | $6.34B | +6% |
| Diluted EPS | $17.74 | $16.53 | +7% |
| Adjusted EPS, non-GAAP | $22.87 | $21.86 | +5% |
| Net cash provided by operating activities | $7.82B | $8.67B | -10% |
| Free cash flow, non-GAAP | $6.34B | $7.32B | -13% |
- Revenue growth included Q4 contributions of 3% organic growth, 2% from acquisitions and 2% from currency translation; FY2025 growth included 2% organic growth, 1% from acquisitions and 1% from currency.
- Q4 GAAP operating margin rose to 18.5% from 17.7% (+80 bp), while adjusted operating margin was 23.6% vs 23.9% (-30 bp). FY margins were 17.4% vs 17.1% GAAP (+30 bp) and 22.7% vs 22.6% adjusted (+10 bp).
- FY2025 share repurchases were $3.00B vs $4.00B; dividends were $636M vs $583M. The weighted-average diluted share count was 378M vs 383M. Cash and cash equivalents were $9.85B at year-end, vs $4.01B a year earlier.
Guidance
Guidance to be given on the earnings call.
Investor Takeaways
- The 2026 guidance from the earnings call will set the company’s outlook benchmark following FY2025 revenue growth of 4% and adjusted EPS growth of 5%.
The summary is written by an AI model reading the filing.
Model 005 · prompt 01d34d48e3