Analysis of Goodwill and Intangible Assets
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Thermo Fisher Scientific Inc. pages available for free this week:
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Debt
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Goodwill and Intangible Asset Disclosure
Thermo Fisher Scientific Inc., balance sheet: goodwill and intangible assets
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
| Item | Description | The company |
|---|---|---|
| Acquisition-related intangible assets | Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. | Thermo Fisher Scientific Inc. acquisition-related intangible assets decreased from 2022 to 2023 and from 2023 to 2024. |
| Goodwill | Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. | Thermo Fisher Scientific Inc. goodwill increased from 2022 to 2023 and from 2023 to 2024. |
| Acquisition-related intangible assets and goodwill | Sum of the carrying amounts of all intangible assets, including goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. | Thermo Fisher Scientific Inc. acquisition-related intangible assets and goodwill increased from 2022 to 2023 and from 2023 to 2024. |
Adjustments to Financial Statements: Removal of Goodwill
Thermo Fisher Scientific Inc., adjustments to financial statements
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
Thermo Fisher Scientific Inc., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios: Removal of Goodwill (Summary)
Thermo Fisher Scientific Inc., adjusted financial ratios
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
| Financial ratio | Description | The company |
|---|---|---|
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Thermo Fisher Scientific Inc. adjusted total asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
| Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Thermo Fisher Scientific Inc. adjusted financial leverage ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024. |
| Adjusted ROE | A profitability ratio calculated as net income divided by adjusted shareholders’ equity. | Thermo Fisher Scientific Inc. adjusted ROE deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Adjusted ROA | A profitability ratio calculated as net income divided by adjusted total assets. | Thermo Fisher Scientific Inc. adjusted ROA deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |
Thermo Fisher Scientific Inc., Financial Ratios: Reported vs. Adjusted
Adjusted Total Asset Turnover
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
2024 Calculations
1 Total asset turnover = Revenues ÷ Total assets
= ÷ =
2 Adjusted total asset turnover = Revenues ÷ Adjusted total assets
= ÷ =
| Activity ratio | Description | The company |
|---|---|---|
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Thermo Fisher Scientific Inc. adjusted total asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
Adjusted Financial Leverage
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
2024 Calculations
1 Financial leverage = Total assets ÷ Total Thermo Fisher Scientific Inc. shareholders’ equity
= ÷ =
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted total Thermo Fisher Scientific Inc. shareholders’ equity
= ÷ =
| Solvency ratio | Description | The company |
|---|---|---|
| Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Thermo Fisher Scientific Inc. adjusted financial leverage ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024. |
Adjusted Return on Equity (ROE)
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
2024 Calculations
1 ROE = 100 × Net income attributable to Thermo Fisher Scientific Inc. ÷ Total Thermo Fisher Scientific Inc. shareholders’ equity
= 100 × ÷ =
2 Adjusted ROE = 100 × Net income attributable to Thermo Fisher Scientific Inc. ÷ Adjusted total Thermo Fisher Scientific Inc. shareholders’ equity
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted ROE | A profitability ratio calculated as net income divided by adjusted shareholders’ equity. | Thermo Fisher Scientific Inc. adjusted ROE deteriorated from 2022 to 2023 and from 2023 to 2024. |
Adjusted Return on Assets (ROA)
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
2024 Calculations
1 ROA = 100 × Net income attributable to Thermo Fisher Scientific Inc. ÷ Total assets
= 100 × ÷ =
2 Adjusted ROA = 100 × Net income attributable to Thermo Fisher Scientific Inc. ÷ Adjusted total assets
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted ROA | A profitability ratio calculated as net income divided by adjusted total assets. | Thermo Fisher Scientific Inc. adjusted ROA deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |