Thermo Fisher Scientific (TMO) FY2021 results: revenue $39.2 billion, up 21.7% on the year
Thermo Fisher Scientific Inc. (TMO) reported revenue of $39.2 billion for fiscal 2021, the year ended 31 December 2021, up 21.7% on the year before. Net income was $7.7 billion, up 21.2%, and diluted earnings per share $19.46. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2022.
Revenue
$39.2 billion
+21.7% on the year
FY2014FY2021
Operating margin
25.6%
24.2% a year earlier
FY2014FY2021
Net income
$7.7 billion
+21.2% on the year
FY2014FY2021
Diluted EPS
$19.46
+21.9% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
9,312
8,289
4,973
+12.3%
Capital expenditure
2,523
1,474
926
+71.2%
Free cash flow
6,789
6,815
4,047
-0.4%
Free cash flow margin
17.3%
21.2%
15.8%
Cash from investing
-21,932
-1,510
-1,487
Cash from financing
6,581
959
-3,118
+586.2%
Depreciation and amortisation
2,592
2,325
2,277
+11.5%
Share-based compensation
230
196
181
+17.3%
Buybacks
2,000
1,500
1,500
+33.3%
Dividends paid
395
337
297
+17.2%
Dividend per share
$1.04
$0.88
$0.76
+18.2%
Diluted shares, weighted
397m
399m
403m
-0.5%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
40,793
34,507
29,675
+18.2%
Non-controlling interest
62.0
10.0
9.0
+520.0%
Redeemable equity
122
0.0
0.0
Debt
34,870
21,735
17,752
+60.4%
Operating lease liabilities
1,203
626
571
+92.2%
Other liabilities
18,073
12,174
10,374
+48.5%
Total liabilities and equity
95,123
69,052
58,381
+37.8%
Fixed assets
8,333
5,912
4,749
+41.0%
Goodwill
41,924
26,041
25,714
+61.0%
Intangible assets
20,113
12,685
14,014
+58.6%
Cash and equivalents
4,477
10,325
2,399
-56.6%
Receivables
7,977
5,741
4,349
+38.9%
Inventory
5,051
4,029
3,370
+25.4%
Other assets
7,248
4,319
3,786
+67.8%
Total assets
95,123
69,052
58,381
+37.8%
10-K for the year ended 31 December 2021, filed 24 February 2022: the filing.