Thermo Fisher Scientific (NYSE:TMO) Announces Earnings Results

Thermo Fisher Scientific (NYSE:TMO) announced its earnings results on Thursday. The medical research company reported $6.57 EPS for the quarter, topping the consensus estimate of $6.44 by $0.13, FiscalAI reports. The company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%.

Here are the key takeaways from Thermo Fisher Scientific’s conference call:

• We delivered a strong finish to 2025 with Q4 revenue of $12.21B (+7%) and adjusted EPS of $6.57 (+8%), full‑year revenue $44.56B (+4%) and adjusted EPS $22.87 (+5%), and we initiated 2026 guidance of $46.3B–$47.2B revenue and $24.22–$24.80 adjusted EPS (6%–8% growth, 3%–4% organic).
• Aggressive capital deployment — ~ $16.5B deployed in 2025 (including ~$13B for M&A and $3.6B returned to shareholders); the announced Clario acquisition (~$9B) is expected to close mid‑2026 and be materially accretive to EPS.
• Product and partnership momentum — multiple high‑impact launches (Orbitrap Astral Zoom, Krios 5 Cryo‑TEM, Helios MX1, EXENT 510(k), expanded single‑use bioreactors) and strategic collaborations (Chan Zuckerberg Institute, OpenAI) aim to deepen customer ties and embed AI across products and operations.
• Policy and macro risks remain — tariffs and FX volatility were >100 basis points of margin headwind in 2025 and the 2026 guide assumes current tariffs only, while China and U.S. academic/government funding weakness pressured some segments.

Thermo Fisher Scientific Price Performance

Shares of TMO traded down $20.20 during mid-day trading on Thursday, reaching $587.83. The company had a trading volume of 2,206,138 shares, compared to its average volume of 2,550,581. The company’s 50-day moving average is $593.74 and its 200-day moving average is $535.61. Thermo Fisher Scientific has a twelve month low of $385.46 and a twelve month high of $643.99. The company has a market capitalization of $220.85 billion, a P/E ratio of 34.01, a P/E/G ratio of 4.10 and a beta of 0.91. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.94%.

Insider Activity

In other Thermo Fisher Scientific news, EVP Frederick M. Lowery sold 6,912 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total value of $4,022,369.28. Following the completion of the transaction, the executive vice president directly owned 14,367 shares of the company’s stock, valued at approximately $8,360,731.98. The trade was a 32.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael D. Shafer sold 10,725 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total value of $6,435,000.00. Following the transaction, the executive vice president directly owned 18,731 shares in the company, valued at approximately $11,238,600. This represents a 36.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 124,517 shares of company stock worth $72,363,568 in the last quarter. 0.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Unisphere Establishment raised its holdings in Thermo Fisher Scientific by 5.6% in the second quarter. Unisphere Establishment now owns 2,060,000 shares of the medical research company’s stock worth $835,248,000 after purchasing an additional 110,000 shares during the period. Invesco Ltd. lifted its holdings in Thermo Fisher Scientific by 22.8% during the third quarter. Invesco Ltd. now owns 1,915,286 shares of the medical research company’s stock worth $928,952,000 after acquiring an additional 355,659 shares in the last quarter. Corient Private Wealth LLC grew its stake in Thermo Fisher Scientific by 89.1% in the second quarter. Corient Private Wealth LLC now owns 1,752,607 shares of the medical research company’s stock valued at $720,576,000 after acquiring an additional 825,649 shares during the period. Raymond James Financial Inc. increased its holdings in shares of Thermo Fisher Scientific by 7.4% in the second quarter. Raymond James Financial Inc. now owns 778,822 shares of the medical research company’s stock worth $315,781,000 after acquiring an additional 53,542 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Thermo Fisher Scientific by 0.4% during the second quarter. California State Teachers Retirement System now owns 602,031 shares of the medical research company’s stock worth $244,099,000 after purchasing an additional 2,262 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific declared that its board has initiated a stock buyback program on Thursday, November 6th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

More Thermo Fisher Scientific News

Here are the key news stories impacting Thermo Fisher Scientific this week:

• Positive Sentiment: Quarterly beat — Thermo Fisher reported Q4 adjusted EPS of $6.57 (above $6.44 consensus) and revenue of $12.21B (above ~$11.95B), with full‑year revenue of $44.56B, showing continued sales growth and improved earnings. Thermo Fisher Reports Fourth Quarter and Full Year 2025 Results
• Positive Sentiment: Demand drivers — Management cited strong demand for tools and services from pharmaceutical clients (drug development workflows), supporting near‑term revenue resilience. Thermo Fisher beats quarterly results estimates on demand for tools from pharma clients
• Positive Sentiment: Analyst support — William Blair maintained a Buy rating, citing resilient organic growth and stabilizing end markets, which may help investor confidence despite cautious guidance. Thermo Fisher Scientific: Resilient Organic Growth and Stabilizing End Markets Support Sustained Buy Rating
• Neutral Sentiment: Valuation check — Recent share‑price momentum has prompted commentary on valuation and positioning after the earnings run; this frames investor debate but isn’t a direct catalyst. Thermo Fisher Scientific (TMO) Valuation Check After Recent Share Price Momentum
• Negative Sentiment: Cautious 2026 guidance & margin pressure — Management guided 2026 revenue to $46.3B–$47.2B (≈4%–6% growth, organic ~3%–4%), broadly in line with consensus but signaling modest end‑market demand and continuing margin headwinds; investors focused on profitability outlook, which pressured the stock. Thermo Fisher stock slides on cautious profit guidance

Analyst Ratings Changes

Several analysts recently issued reports on TMO shares. Citigroup upgraded Thermo Fisher Scientific from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $580.00 to $660.00 in a report on Thursday, December 11th. TD Cowen reaffirmed a “buy” rating on shares of Thermo Fisher Scientific in a research note on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday, October 23rd. Stifel Nicolaus raised their price objective on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Finally, UBS Group boosted their target price on shares of Thermo Fisher Scientific from $500.00 to $590.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $625.47.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.