Thermo Fisher Scientific (TMO) FY2024 results: revenue $42.9 billion, up 0.1% on the year
Thermo Fisher Scientific Inc. (TMO) reported revenue of $42.9 billion for fiscal 2024, the year ended 31 December 2024, up 0.1% on the year before. Net income was $6.3 billion, up 5.7%, and diluted earnings per share $16.53. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2025.
Revenue
$42.9 billion
+0.1% on the year
FY2017FY2024
Operating margin
17.1%
16.0% a year earlier
FY2017FY2024
Net income
$6.3 billion
+5.7% on the year
FY2017FY2024
Diluted EPS
$16.53
+7.0% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
8,667
8,406
9,154
+3.1%
Capital expenditure
1,400
1,479
2,243
-5.3%
Free cash flow
7,267
6,927
6,911
+4.9%
Free cash flow margin
16.9%
16.2%
15.4%
Cash from investing
-5,841
-5,142
-2,159
Cash from financing
-6,792
-3,622
-2,810
Depreciation and amortisation
3,108
3,406
3,381
-8.7%
Share-based compensation
301
278
307
+8.3%
Buybacks
4,000
3,000
3,000
+33.3%
Dividends paid
583
523
455
+11.5%
Dividend per share
$1.56
$1.40
$1.20
+11.4%
Diluted shares, weighted
383m
388m
394m
-1.3%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
49,584
46,735
43,978
+6.1%
Non-controlling interest
-33.0
-11.0
54.0
Redeemable equity
120
118
116
+1.7%
Debt
31,275
34,917
34,488
-10.4%
Operating lease liabilities
1,239
1,244
1,313
-0.4%
Other liabilities
15,136
15,723
17,205
-3.7%
Total liabilities and equity
97,321
98,726
97,154
-1.4%
Fixed assets
9,306
9,448
9,280
-1.5%
Goodwill
45,853
44,020
41,196
+4.2%
Intangible assets
15,533
16,670
17,442
-6.8%
Investments
1,561
3.0
n/a
+51,933.3%
Cash and equivalents
4,009
8,077
8,524
-50.4%
Receivables
8,191
8,221
8,115
-0.4%
Inventory
4,978
5,088
5,634
-2.2%
Other assets
7,890
7,199
6,963
+9.6%
Total assets
97,321
98,726
97,154
-1.4%
10-K for the year ended 31 December 2024, filed 20 February 2025: the filing.