Filing Flows › Thermo Fisher Scientific (TMO) › Q4 2025
Thermo Fisher Scientific (TMO) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Thermo Fisher Scientific (TMO) reported revenue of $12.2B for the fourth quarter 2025 (Q4 2025), +7% from a year earlier and +10% from the quarter before. Operating margin was 18.5%, net earnings $2.0B (16.1% of revenue).
Thermo Fisher Scientific, Q4 2025: revenue $12.2B (+7% year over year), operating margin 18.5%, net earnings $2.0B, operating cash flow $3.5B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $12.2B | +10% | +7% |
| Operating profit | $2.3B | +16% | +12% |
| Net earnings | $2.0B | +22% | +8% |
| Operating cash flow | $3.5B | +54% | +5% |
| Free cash flow | $3.0B | +63% | +6% |
What changed
Revenue was $12.2B in Q4 2025, up 7% year over year and up 10% from the previous quarter. Laboratory Products and Biopharma Services was the largest line at 52% of revenue.
Operating profit was $2.3B, a 18.5% margin (up 0.8 points year over year). Of the extra revenue versus a year earlier, 29% reached operating profit, above the 18% margin then. Total costs grew 6% against revenue growth of 7%. Net earnings were $2.0B, up 7% year over year. The effective tax rate was 7.2%.
Operating cash flow was $3.5B (up 5% year over year), 175% of net earnings. Non-cash charges added back $0.73B of depreciation and amortization and $0.08B of share-based compensation. Working capital and other items added $0.68B. Capital expenditures of $0.47B left free cash flow of $3.0B.
Questions
What was Thermo Fisher Scientific's revenue in the fourth quarter 2025?
Thermo Fisher Scientific (TMO) reported revenue of $12.2B for the fourth quarter 2025 (Q4 2025), +7% from a year earlier and +10% from the quarter before.
Was Thermo Fisher Scientific profitable in the fourth quarter 2025?
Operating profit was $2.3B (18.5% of revenue) and net earnings $2.0B.