Filing Flows › Thermo Fisher Scientific (TMO) › Q2 2026 › vs Q2 2025
Thermo Fisher Scientific (TMO) Q2 2026 vs Q2 2025 (year over year)
Thermo Fisher Scientific's revenue rose $1.1B (+10%) from $10.9B in Q2 2025 to $12.0B in Q2 2026. The biggest changes: Laboratory Products and Biopharma Services +$699M (+12%); Life Sciences Solutions +$240M (+11%); Analytical Instruments +$130M (+8%). Operating margin 17.4% against 16.9% (+0.5 pts).
Thermo Fisher Scientific, Q2 2026: revenue $12.0B (+10% year over year), operating margin 17.4%, net earnings $1.7B, operating cash flow $2.1B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 17.4% | 16.9% | +0.5 pts |
| Net margin | 14.5% | 14.9% | -0.4 pts |
| Free cash flow margin | 14.0% | 10.2% | +3.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Laboratory Products and Biopharma Services | $6.7B | $6.0B | $699M | +12% |
| Life Sciences Solutions | $2.4B | $2.1B | $240M | +11% |
| Analytical Instruments | $1.8B | $1.7B | $130M | +8% |
| Specialty Diagnostics | $1.2B | $1.1B | $70.0M | +6% |
| Revenue | $12.0B | $10.9B | $1.1B | +10% |
| Operating profit | $2.1B | $1.8B | $253M | +14% |
| Costs & expenses | $9.9B | $9.0B | $886M | +10% |
| Pre-tax earnings | $1.9B | $1.7B | $199M | +12% |
| Other expense, net | $179M | $125M | $54.0M | +43% |
| Research & development | $364M | $352M | $12.0M | +3% |
| SG&A | $2.3B | $2.1B | $193M | +9% |
| Other operating costs | $7.2B | $6.5B | $681M | +10% |
| Net earnings | $1.7B | $1.6B | $123M | +8% |
| Income tax | $167M | $92.0M | $75.0M | +82% |
| Depreciation & amortization | $816M | $686M | $130M | +19% |
| Share-based compensation | $82.0M | $81.0M | $1.0M | +1% |
| Working capital & other | $514M | $986M | −$472M | -48% |
| Operating cash flow | $2.1B | $1.4B | $726M | +52% |
| Free cash flow (OCF − capex) | $1.7B | $1.1B | $570M | +52% |
| Capital expenditures | $450M | $294M | $156M | +53% |
Questions
How much did Thermo Fisher Scientific's revenue grow year over year in Q2 2026?
Thermo Fisher Scientific's revenue rose $1.1B (+10%) from $10.9B in Q2 2025 to $12.0B in Q2 2026.
What drove Thermo Fisher Scientific's revenue change in Q2 2026?
Laboratory Products and Biopharma Services +$699M (+12%); Life Sciences Solutions +$240M (+11%); Analytical Instruments +$130M (+8%).