Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Based on: 10-Q (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).
Long-term activity ratio | Description | The company |
---|---|---|
Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Thermo Fisher Scientific Inc. net fixed asset turnover ratio improved from Q1 2024 to Q2 2024 but then deteriorated significantly from Q2 2024 to Q3 2024. |
Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Thermo Fisher Scientific Inc. total asset turnover ratio deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Thermo Fisher Scientific Inc. equity turnover ratio deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Net Fixed Asset Turnover
Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Dec 31, 2021 | Oct 2, 2021 | Jul 3, 2021 | Apr 3, 2021 | Dec 31, 2020 | Sep 26, 2020 | Jun 27, 2020 | Mar 28, 2020 | Dec 31, 2019 | Sep 28, 2019 | Jun 29, 2019 | Mar 30, 2019 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
Revenues | 10,598) | 10,541) | 10,345) | 10,886) | 10,574) | 10,687) | 10,710) | 11,450) | 10,677) | 10,970) | 11,818) | 10,702) | 9,330) | 9,273) | 9,906) | 10,550) | 8,521) | 6,917) | 6,230) | 6,829) | 6,272) | 6,316) | 6,125) | |||||||
Property, plant and equipment, net | 9,412) | 9,282) | 9,324) | 9,448) | 9,167) | 9,292) | 9,354) | 9,280) | 8,628) | 8,529) | 8,448) | 8,333) | 7,049) | 6,560) | 6,133) | 5,912) | 5,180) | 4,887) | 4,736) | 4,749) | 4,420) | 4,394) | 4,192) | |||||||
Long-term Activity Ratio | ||||||||||||||||||||||||||||||
Net fixed asset turnover1 | 4.50 | 4.56 | 4.56 | 4.54 | 4.74 | 4.68 | 4.68 | 4.84 | 5.12 | 5.02 | 4.87 | 4.71 | 5.54 | 5.83 | 5.85 | 5.45 | 5.50 | 5.37 | 5.42 | 5.38 | — | — | — | |||||||
Benchmarks | ||||||||||||||||||||||||||||||
Net Fixed Asset Turnover, Competitors2 | ||||||||||||||||||||||||||||||
AbbVie Inc. | 10.80 | 10.95 | 10.92 | 10.89 | 11.18 | 11.33 | 11.51 | 11.76 | 11.82 | 11.57 | 11.18 | 11.00 | 10.75 | 10.41 | 9.67 | 8.73 | 8.15 | 7.38 | 11.50 | 11.23 | — | — | — | |||||||
Amgen Inc. | 5.06 | 4.85 | 4.70 | 4.53 | 4.61 | 4.58 | 4.56 | 4.57 | 4.73 | 4.77 | 4.75 | 4.69 | 4.89 | 4.92 | 4.93 | 4.96 | 4.94 | 4.78 | 4.68 | 4.51 | — | — | — | |||||||
Bristol-Myers Squibb Co. | 6.87 | 6.79 | 6.75 | 6.77 | 6.93 | 7.11 | 7.30 | 7.38 | 7.74 | 7.90 | 7.77 | 7.67 | 7.75 | 7.66 | 7.43 | 7.22 | 6.86 | 6.03 | 5.07 | 4.18 | — | — | — | |||||||
Danaher Corp. | 4.90 | 5.08 | 5.20 | 5.25 | 6.01 | 6.68 | 7.31 | 7.96 | 8.40 | 8.12 | 7.94 | 7.77 | 7.71 | 7.84 | 7.59 | 6.83 | 6.68 | 6.35 | 6.03 | 7.78 | — | — | — | |||||||
Eli Lilly & Co. | 2.53 | 2.62 | 2.64 | 2.64 | 2.70 | 2.62 | 2.63 | 2.81 | 3.14 | 3.18 | 3.22 | 3.15 | 3.11 | 3.02 | 2.95 | 2.83 | 2.80 | 2.88 | 2.92 | 2.83 | — | — | — | |||||||
Gilead Sciences Inc. | — | 5.17 | 5.13 | 5.07 | 4.88 | 4.91 | 4.88 | 4.93 | 5.01 | 5.13 | 5.18 | 5.27 | 5.40 | 5.27 | 5.06 | 4.90 | 4.74 | 4.70 | 4.90 | 4.91 | — | — | — | |||||||
Johnson & Johnson | 4.28 | 4.38 | 4.36 | 4.28 | 4.65 | 4.37 | 4.58 | 4.79 | 5.29 | 5.21 | 5.07 | 4.95 | 4.95 | 4.79 | 4.59 | 4.40 | 4.53 | 4.57 | 4.75 | 4.65 | — | — | — | |||||||
Merck & Co. Inc. | — | 2.69 | 2.66 | 2.61 | 2.63 | 2.62 | 2.66 | 2.77 | 2.89 | 2.85 | 2.73 | 2.53 | 2.57 | 2.61 | 2.55 | 2.67 | 2.80 | 2.99 | 3.15 | 3.11 | — | — | — | |||||||
Moderna Inc. | — | 2.23 | 2.43 | 3.43 | 4.48 | 4.43 | 7.11 | 9.14 | 10.16 | 16.77 | 16.31 | 14.24 | 12.95 | 7.72 | 5.20 | 0.67 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | |||||||
Pfizer Inc. | 3.26 | 2.97 | 2.98 | 3.14 | 3.88 | 4.48 | 5.46 | 6.17 | 6.47 | 6.64 | 6.12 | 5.46 | 4.79 | 3.89 | 3.31 | 3.01 | 2.98 | 3.21 | 3.47 | 3.71 | — | — | — | |||||||
Regeneron Pharmaceuticals Inc. | 3.12 | 3.13 | 3.10 | 3.16 | 3.27 | 3.23 | 3.19 | 3.23 | 3.70 | 3.91 | 4.64 | 4.62 | 3.99 | 3.69 | 2.82 | 2.64 | 2.63 | 2.64 | 2.71 | 2.72 | — | — | — |
Based on: 10-Q (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).
1 Q3 2024 Calculation
Net fixed asset turnover
= (RevenuesQ3 2024
+ RevenuesQ2 2024
+ RevenuesQ1 2024
+ RevenuesQ4 2023)
÷ Property, plant and equipment, net
= (10,598 + 10,541 + 10,345 + 10,886)
÷ 9,412 = 4.50
2 Click competitor name to see calculations.
Long-term activity ratio | Description | The company |
---|---|---|
Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Thermo Fisher Scientific Inc. net fixed asset turnover ratio improved from Q1 2024 to Q2 2024 but then deteriorated significantly from Q2 2024 to Q3 2024. |
Total Asset Turnover
Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Dec 31, 2021 | Oct 2, 2021 | Jul 3, 2021 | Apr 3, 2021 | Dec 31, 2020 | Sep 26, 2020 | Jun 27, 2020 | Mar 28, 2020 | Dec 31, 2019 | Sep 28, 2019 | Jun 29, 2019 | Mar 30, 2019 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
Revenues | 10,598) | 10,541) | 10,345) | 10,886) | 10,574) | 10,687) | 10,710) | 11,450) | 10,677) | 10,970) | 11,818) | 10,702) | 9,330) | 9,273) | 9,906) | 10,550) | 8,521) | 6,917) | 6,230) | 6,829) | 6,272) | 6,316) | 6,125) | |||||||
Total assets | 100,364) | 98,496) | 97,095) | 98,726) | 97,057) | 94,105) | 94,658) | 97,154) | 90,536) | 90,579) | 92,747) | 95,123) | 73,600) | 67,698) | 65,931) | 69,052) | 64,061) | 61,593) | 58,688) | 58,381) | 56,729) | 57,970) | 55,596) | |||||||
Long-term Activity Ratio | ||||||||||||||||||||||||||||||
Total asset turnover1 | 0.42 | 0.43 | 0.44 | 0.43 | 0.45 | 0.46 | 0.46 | 0.46 | 0.49 | 0.47 | 0.44 | 0.41 | 0.53 | 0.57 | 0.54 | 0.47 | 0.44 | 0.43 | 0.44 | 0.44 | — | — | — | |||||||
Benchmarks | ||||||||||||||||||||||||||||||
Total Asset Turnover, Competitors2 | ||||||||||||||||||||||||||||||
AbbVie Inc. | 0.39 | 0.39 | 0.37 | 0.40 | 0.40 | 0.41 | 0.42 | 0.42 | 0.41 | 0.40 | 0.40 | 0.38 | 0.37 | 0.36 | 0.33 | 0.30 | 0.27 | 0.24 | 0.37 | 0.37 | — | — | — | |||||||
Amgen Inc. | 0.34 | 0.32 | 0.30 | 0.28 | 0.28 | 0.28 | 0.28 | 0.38 | 0.38 | 0.41 | 0.41 | 0.40 | 0.37 | 0.40 | 0.38 | 0.39 | 0.37 | 0.36 | 0.37 | 0.37 | — | — | — | |||||||
Bristol-Myers Squibb Co. | 0.51 | 0.49 | 0.46 | 0.47 | 0.49 | 0.48 | 0.49 | 0.48 | 0.48 | 0.47 | 0.46 | 0.42 | 0.41 | 0.40 | 0.38 | 0.36 | 0.31 | 0.27 | 0.24 | 0.20 | — | — | — | |||||||
Danaher Corp. | 0.29 | 0.30 | 0.28 | 0.28 | 0.29 | 0.33 | 0.35 | 0.37 | 0.39 | 0.38 | 0.36 | 0.35 | 0.34 | 0.34 | 0.33 | 0.29 | 0.28 | 0.27 | 0.26 | 0.29 | — | — | — | |||||||
Eli Lilly & Co. | 0.54 | 0.54 | 0.56 | 0.53 | 0.55 | 0.54 | 0.52 | 0.58 | 0.62 | 0.62 | 0.62 | 0.58 | 0.58 | 0.56 | 0.54 | 0.53 | 0.53 | 0.55 | 0.56 | 0.57 | — | — | — | |||||||
Gilead Sciences Inc. | — | 0.52 | 0.48 | 0.43 | 0.44 | 0.44 | 0.43 | 0.43 | 0.43 | 0.43 | 0.43 | 0.40 | 0.41 | 0.39 | 0.37 | 0.36 | 0.37 | 0.39 | 0.37 | 0.36 | — | — | — | |||||||
Johnson & Johnson | 0.49 | 0.48 | 0.50 | 0.51 | 0.53 | 0.47 | 0.47 | 0.51 | 0.55 | 0.54 | 0.53 | 0.52 | 0.51 | 0.51 | 0.49 | 0.47 | 0.47 | 0.51 | 0.53 | 0.52 | — | — | — | |||||||
Merck & Co. Inc. | — | 0.55 | 0.58 | 0.56 | 0.56 | 0.56 | 0.54 | 0.54 | 0.55 | 0.53 | 0.51 | 0.46 | 0.51 | 0.52 | 0.51 | 0.52 | 0.53 | 0.52 | 0.57 | 0.55 | — | — | — | |||||||
Moderna Inc. | — | 0.31 | 0.30 | 0.36 | 0.45 | 0.46 | 0.59 | 0.71 | 0.79 | 0.85 | 0.79 | 0.72 | 0.52 | 0.38 | 0.15 | 0.03 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | |||||||
Pfizer Inc. | 0.28 | 0.26 | 0.25 | 0.26 | 0.32 | 0.36 | 0.48 | 0.51 | 0.51 | 0.52 | 0.50 | 0.45 | 0.39 | 0.33 | 0.29 | 0.27 | 0.24 | 0.25 | 0.29 | 0.31 | — | — | — | |||||||
Regeneron Pharmaceuticals Inc. | 0.37 | 0.37 | 0.38 | 0.40 | 0.41 | 0.41 | 0.41 | 0.42 | 0.50 | 0.52 | 0.63 | 0.63 | 0.57 | 0.58 | 0.52 | 0.50 | 0.51 | 0.55 | 0.51 | 0.53 | — | — | — |
Based on: 10-Q (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).
1 Q3 2024 Calculation
Total asset turnover
= (RevenuesQ3 2024
+ RevenuesQ2 2024
+ RevenuesQ1 2024
+ RevenuesQ4 2023)
÷ Total assets
= (10,598 + 10,541 + 10,345 + 10,886)
÷ 100,364 = 0.42
2 Click competitor name to see calculations.
Long-term activity ratio | Description | The company |
---|---|---|
Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Thermo Fisher Scientific Inc. total asset turnover ratio deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Equity Turnover
Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Dec 31, 2021 | Oct 2, 2021 | Jul 3, 2021 | Apr 3, 2021 | Dec 31, 2020 | Sep 26, 2020 | Jun 27, 2020 | Mar 28, 2020 | Dec 31, 2019 | Sep 28, 2019 | Jun 29, 2019 | Mar 30, 2019 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
Revenues | 10,598) | 10,541) | 10,345) | 10,886) | 10,574) | 10,687) | 10,710) | 11,450) | 10,677) | 10,970) | 11,818) | 10,702) | 9,330) | 9,273) | 9,906) | 10,550) | 8,521) | 6,917) | 6,230) | 6,829) | 6,272) | 6,316) | 6,125) | |||||||
Total Thermo Fisher Scientific Inc. shareholders’ equity | 48,992) | 47,432) | 45,516) | 46,735) | 45,328) | 43,752) | 42,257) | 43,978) | 43,549) | 42,293) | 40,956) | 40,793) | 38,710) | 36,854) | 35,058) | 34,507) | 31,824) | 29,875) | 28,559) | 29,675) | 29,355) | 28,729) | 27,693) | |||||||
Long-term Activity Ratio | ||||||||||||||||||||||||||||||
Equity turnover1 | 0.86 | 0.89 | 0.93 | 0.92 | 0.96 | 0.99 | 1.04 | 1.02 | 1.01 | 1.01 | 1.00 | 0.96 | 1.01 | 1.04 | 1.02 | 0.93 | 0.90 | 0.88 | 0.90 | 0.86 | — | — | — | |||||||
Benchmarks | ||||||||||||||||||||||||||||||
Equity Turnover, Competitors2 | ||||||||||||||||||||||||||||||
AbbVie Inc. | 9.21 | 8.11 | 6.79 | 5.24 | 4.56 | 4.35 | 4.27 | 3.36 | 3.62 | 3.91 | 3.48 | 3.65 | 4.07 | 4.27 | 3.66 | 3.50 | 2.66 | 2.46 | — | — | — | — | — | |||||||
Amgen Inc. | 4.14 | 4.99 | 5.61 | 4.32 | 3.35 | 3.73 | 4.66 | 6.77 | 6.71 | 10.17 | 26.68 | 3.63 | 2.96 | 2.93 | 2.56 | 2.58 | 2.17 | 2.17 | 2.41 | 2.30 | — | — | — | |||||||
Bristol-Myers Squibb Co. | 2.77 | 2.73 | 2.76 | 1.53 | 1.55 | 1.41 | 1.44 | 1.49 | 1.43 | 1.45 | 1.49 | 1.29 | 1.22 | 1.21 | 1.14 | 1.12 | 0.79 | 0.71 | 0.62 | 0.51 | — | — | — | |||||||
Danaher Corp. | 0.46 | 0.47 | 0.44 | 0.45 | 0.49 | 0.54 | 0.58 | 0.63 | 0.67 | 0.66 | 0.65 | 0.65 | 0.65 | 0.62 | 0.61 | 0.56 | 0.54 | 0.52 | 0.58 | 0.59 | — | — | — | |||||||
Eli Lilly & Co. | 2.87 | 2.87 | 2.80 | 3.17 | 2.86 | 2.67 | 2.47 | 2.68 | 2.90 | 3.40 | 3.14 | 3.15 | 3.58 | 4.15 | 3.69 | 4.35 | 4.81 | 5.61 | 7.50 | 8.56 | — | — | — | |||||||
Gilead Sciences Inc. | — | 1.51 | 1.56 | 1.18 | 1.22 | 1.28 | 1.27 | 1.27 | 1.27 | 1.34 | 1.37 | 1.28 | 1.27 | 1.34 | 1.33 | 1.34 | 1.31 | 1.21 | 1.01 | 0.98 | — | — | — | |||||||
Johnson & Johnson | 1.25 | 1.21 | 1.22 | 1.24 | 1.23 | 1.20 | 1.30 | 1.24 | 1.29 | 1.25 | 1.27 | 1.27 | 1.30 | 1.28 | 1.28 | 1.31 | 1.25 | 1.28 | 1.35 | 1.38 | — | — | — | |||||||
Merck & Co. Inc. | — | 1.43 | 1.52 | 1.60 | 1.44 | 1.51 | 1.24 | 1.29 | 1.33 | 1.32 | 1.32 | 1.28 | 1.33 | 1.41 | 1.73 | 1.90 | 1.62 | 1.71 | 1.83 | 1.81 | — | — | — | |||||||
Moderna Inc. | — | 0.42 | 0.39 | 0.48 | 0.65 | 0.60 | 0.76 | 0.96 | 1.14 | 1.23 | 1.28 | 1.25 | 1.08 | 0.91 | 0.50 | 0.08 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | |||||||
Pfizer Inc. | 0.65 | 0.64 | 0.61 | 0.67 | 0.71 | 0.79 | 0.92 | 1.05 | 1.08 | 1.16 | 1.12 | 1.05 | 0.91 | 0.79 | 0.68 | 0.66 | 0.66 | 0.70 | 0.75 | 0.82 | — | — | — | |||||||
Regeneron Pharmaceuticals Inc. | 0.47 | 0.48 | 0.49 | 0.51 | 0.53 | 0.53 | 0.53 | 0.54 | 0.64 | 0.69 | 0.83 | 0.86 | 0.78 | 0.82 | 0.77 | 0.77 | 0.81 | 0.88 | 0.66 | 0.71 | — | — | — |
Based on: 10-Q (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).
1 Q3 2024 Calculation
Equity turnover
= (RevenuesQ3 2024
+ RevenuesQ2 2024
+ RevenuesQ1 2024
+ RevenuesQ4 2023)
÷ Total Thermo Fisher Scientific Inc. shareholders’ equity
= (10,598 + 10,541 + 10,345 + 10,886)
÷ 48,992 = 0.86
2 Click competitor name to see calculations.
Long-term activity ratio | Description | The company |
---|---|---|
Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Thermo Fisher Scientific Inc. equity turnover ratio deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |