<span item_type="fundamental" item_id="de4d1a77ba7f8fd9932cdbaff840fef1" counter_id="ST/US/TMO" env="prod"></span><span item_type="announcement" item_id="610187316950729473" env="prod"></span><p>Revenue: As of FY2025 Q4, the actual value is USD 12.22 B, beating the estimate of USD 11.89 B.</p><p>EPS: As of FY2025 Q4, the actual value is USD 5.21, beating the estimate of USD 5.198.</p><p>EBIT: As of FY2025 Q4, the actual value is USD 2.362 B.</p><p></p><h3>Fourth Quarter 2025 Financial Performance</h3><h4>Operating Income and Margin</h4><p>GAAP operating income for Thermo Fisher Scientific Inc. was $2.26 billion in the fourth quarter of 2025, a 12% increase from $2.016 billion in the year-ago quarter. The GAAP operating margin was 18.5%, up from 17.7% in the fourth quarter of 2024. Adjusted operating income was $2.88 billion, a 6% increase from $2.720 billion in the prior year, with an adjusted operating margin of 23.6%, compared to 23.9% in the fourth quarter of 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/97745/000009774526000012/q42025earnings8kex99_1.htm"></span></p><h4>Net Income</h4><p>Net income attributable to Thermo Fisher Scientific Inc. was $1,964 million in the fourth quarter of 2025, compared to $1,830 million in the fourth quarter of 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/97745/000009774526000012/q42025earnings8kex99_1.htm"></span></p><h4>Operating Expenses</h4><p>Cost of revenues was $7,143 million (58.5% of revenues) in Q4 2025, up from $6,492 million (57.0% of revenues) in Q4 2024. Selling, general and administrative expenses were $1,977 million (16.2% of revenues) in Q4 2025, compared to $1,846 million (16.2% of revenues) in Q4 2024. Amortization of acquisition-related intangible assets was $436 million (3.6% of revenues) in Q4 2025, down from $438 million (3.8% of revenues) in Q4 2024. Research and development expenses were $357 million (2.9% of revenues) in Q4 2025, down from $374 million (3.3% of revenues) in Q4 2024. Restructuring and other costs decreased significantly to $46 million (0.4% of revenues) in Q4 2025 from $228 million (2.0% of revenues) in Q4 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/97745/000009774526000012/q42025earnings8kex99_1.htm"></span></p><h4>Interest Income and Expense</h4><p>Interest income increased to $258 million in Q4 2025 from $227 million in Q4 2024. Interest expense was -$365 million in Q4 2025, compared to -$316 million in Q4 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/97745/000009774526000012/q42025earnings8kex99_1.htm"></span></p><h4>Cash Flow</h4><p>GAAP net cash provided by operating activities was $3,457 million in Q4 2025, up from $3,289 million in Q4 2024. Purchases of property, plant and equipment were -$465 million in Q4 2025, compared to -$480 million in Q4 2024. Proceeds from sale of property, plant and equipment were $27 million in Q4 2025, up from $17 million in Q4 2024. Free cash flow was $3,018 million in Q4 2025, compared to $2,826 million in Q4 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/97745/000009774526000012/q42025earnings8kex99_1.htm"></span></p><h4>Segment Revenues and Income (Fourth Quarter 2025 vs. 2024)</h4><ul><li><strong>Life Sciences Solutions</strong>: Revenue increased to $2,946 million from $2,604 million. Segment income was $1,046 million (35.5% margin) compared to $952 million (36.6% margin).<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/97745/000009774526000012/q42025earnings8kex99_1.htm"></span></li><li><strong>Analytical Instruments</strong>: Revenue was $2,215 million compared to $2,186 million. Segment income was $583 million (26.3% margin) compared to $666 million (30.5% margin).<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/97745/000009774526000012/q42025earnings8kex99_1.htm"></span></li><li><strong>Specialty Diagnostics</strong>: Revenue increased to $1,220 million from $1,157 million. Segment income was $324 million (26.6% margin) compared to $273 million (23.6% margin).<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/97745/000009774526000012/q42025earnings8kex99_1.htm"></span></li><li><strong>Laboratory Products and Biopharma Services</strong>: Revenue increased to $6,379 million from $5,936 million. Segment income was $925 million (14.5% margin) compared to $828 million (14.0% margin).<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/97745/000009774526000012/q42025earnings8kex99_1.htm"></span></li></ul><h3>Full Year 2025 Financial Performance</h3><h4>Operating Income and Margin</h4><p>GAAP operating income for Thermo Fisher Scientific Inc. for the full year 2025 was $7.75 billion, a 6% increase from $7.337 billion in 2024. The GAAP operating margin was 17.4%, up from 17.1% in 2024. Adjusted operating income was $10.11 billion, a 4% increase from $9.707 billion in the prior year, with an adjusted operating margin of 22.7%, compared to 22.6% in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/97745/000009774526000012/q42025earnings8kex99_1.htm"></span></p><h4>Net Income</h4><p>Net income attributable to Thermo Fisher Scientific Inc. for the full year was $6,704 million in 2025, compared to $6,335 million in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/97745/000009774526000012/q42025earnings8kex99_1.htm"></span></p><h4>Operating Expenses</h4><p>Cost of revenues was $26,048 million (58.5% of revenues) in FY 2025, up from $24,818 million (57.9% of revenues) in FY 2024. Selling, general and administrative expenses were $7,272 million (16.3% of revenues) in FY 2025, up from $7,003 million (16.3% of revenues) in FY 2024. Amortization of acquisition-related intangible assets was $1,730 million (3.9% of revenues) in FY 2025, down from $1,952 million (4.6% of revenues) in FY 2024. Research and development expenses were $1,397 million (3.1% of revenues) in FY 2025, up from $1,390 million (3.2% of revenues) in FY 2024. Restructuring and other costs were $362 million (0.8% of revenues) in FY 2025, down from $379 million (0.9% of revenues) in FY 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/97745/000009774526000012/q42025earnings8kex99_1.htm"></span></p><h4>Interest Income and Expense</h4><p>Interest income was $993 million in FY 2025, down from $1,078 million in FY 2024. Interest expense was -$1,419 million in FY 2025, compared to -$1,390 million in FY 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/97745/000009774526000012/q42025earnings8kex99_1.htm"></span></p><h4>Cash Flow</h4><p>GAAP net cash provided by operating activities was $7,818 million in FY 2025, down from $8,667 million in FY 2024. Purchases of property, plant and equipment were -$1,525 million in FY 2025, compared to -$1,400 million in FY 2024. Proceeds from sale of property, plant and equipment were $44 million in FY 2025, down from $57 million in FY 2024. Free cash flow was $6,337 million in FY 2025, compared to $7,324 million in FY 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/97745/000009774526000012/q42025earnings8kex99_1.htm"></span></p><h4>Capital Deployment</h4><p>In 2025, Thermo Fisher Scientific Inc. deployed approximately $16.5 billion, including $13 billion committed to M&amp;A for acquisitions such as a Filtration and Separation business from Solventum and Sanofi’s Ridgefield, New Jersey, sterile fill-finish site, and an agreement to acquire Clario. Additionally, $3.6 billion of capital was returned to shareholders through stock buybacks and dividends during the year.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/97745/000009774526000012/q42025earnings8kex99_1.htm"></span></p><h4>Segment Revenues and Income (Full Year 2025 vs. 2024)</h4><ul><li><strong>Life Sciences Solutions</strong>: Revenue increased to $10,374 million from $9,631 million. Segment income was $3,768 million (36.3% margin) compared to $3,503 million (36.4% margin).<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/97745/000009774526000012/q42025earnings8kex99_1.htm"></span></li><li><strong>Analytical Instruments</strong>: Revenue was $7,554 million compared to $7,463 million. Segment income was $1,736 million (23.0% margin) compared to $1,955 million (26.2% margin).<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/97745/000009774526000012/q42025earnings8kex99_1.htm"></span></li><li><strong>Specialty Diagnostics</strong>: Revenue increased to $4,676 million from $4,512 million. Segment income was $1,256 million (26.9% margin) compared to $1,159 million (25.7% margin).<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/97745/000009774526000012/q42025earnings8kex99_1.htm"></span></li><li><strong>Laboratory Products and Biopharma Services</strong>: Revenue increased to $23,984 million from $23,157 million. Segment income was $3,350 million (14.0% margin) compared to $3,090 million (13.3% margin).<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/97745/000009774526000012/q42025earnings8kex99_1.htm"></span></li></ul><h4>Outlook / Guidance</h4><p>Thermo Fisher Scientific Inc. will provide its 2026 financial guidance during its earnings conference call on January 29, 2026. Management is confident in the company’s position of strength for 2026, with its growth strategy and PPI Business System expected to support operational performance and achieve objectives.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/97745/000009774526000012/q42025earnings8kex99_1.htm"></span></p>

Thermo Fisher Scentific | 8-K: FY2025 Q4 Revenue Beats Estimate at USD 12.22 B