Stock Analysis on Net

Thermo Fisher Scientific Inc. (NYSE:TMO)

Analysis of Profitability Ratios
Quarterly Data

Microsoft Excel

Profitability Ratios (Summary)

Thermo Fisher Scientific Inc., profitability ratios (quarterly data)

Microsoft Excel
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
Return on Sales
Gross profit margin 40.77% 40.76% 40.40% 39.90% 39.87% 39.75% 40.28% 42.24% 44.42% 46.63% 48.37% 50.08% 51.05% 51.29% 51.47% 49.67% 47.31% 45.39% 44.30% 44.35%
Operating profit margin 16.93% 17.01% 16.38% 16.00% 15.81% 15.42% 16.29% 18.69% 20.54% 22.51% 23.83% 25.57% 27.04% 28.00% 27.68% 24.19% 20.90% 17.05% 17.86% 17.99%
Net profit margin 14.48% 14.69% 14.20% 13.99% 13.68% 13.14% 13.75% 15.47% 15.92% 17.37% 18.49% 19.70% 21.93% 22.47% 22.08% 19.79% 17.12% 14.12% 14.31% 14.47%
Return on Investment
Return on equity (ROE) 12.52% 13.12% 13.26% 12.83% 13.11% 13.08% 14.26% 15.80% 16.15% 17.59% 18.56% 18.94% 22.13% 23.32% 22.60% 18.47% 15.33% 12.41% 12.85% 12.45%
Return on assets (ROA) 6.11% 6.32% 6.21% 6.07% 6.12% 6.08% 6.36% 7.15% 7.77% 8.21% 8.20% 8.12% 11.64% 12.70% 12.02% 9.23% 7.62% 6.02% 6.25% 6.33%

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).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Thermo Fisher Scientific Inc. gross profit margin ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Thermo Fisher Scientific Inc. operating profit margin ratio improved from Q1 2024 to Q2 2024 but then slightly deteriorated from Q2 2024 to Q3 2024.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Thermo Fisher Scientific Inc. net profit margin ratio improved from Q1 2024 to Q2 2024 but then slightly deteriorated from Q2 2024 to Q3 2024.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Thermo Fisher Scientific Inc. ROE deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
ROA A profitability ratio calculated as net income divided by total assets. Thermo Fisher Scientific Inc. ROA improved from Q1 2024 to Q2 2024 but then deteriorated significantly from Q2 2024 to Q3 2024.

Gross Profit Margin

Thermo Fisher Scientific Inc., gross profit margin calculation (quarterly data)

Microsoft Excel
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)
Gross profit 4,328 4,347 4,205 4,393 4,316 4,251 4,140 4,606 4,302 4,599 5,464 5,254 4,651 4,524 5,209 5,556 4,331 3,377 2,740 3,035 2,763 2,823 2,707
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
Profitability Ratio
Gross profit margin1 40.77% 40.76% 40.40% 39.90% 39.87% 39.75% 40.28% 42.24% 44.42% 46.63% 48.37% 50.08% 51.05% 51.29% 51.47% 49.67% 47.31% 45.39% 44.30% 44.35%
Benchmarks
Gross Profit Margin, Competitors2
AbbVie Inc. 67.21% 62.75% 62.28% 62.42% 65.76% 68.91% 69.43% 70.00% 69.62% 70.48% 69.53% 68.96% 67.72% 65.62% 64.82% 66.41% 68.74% 73.56% 77.43% 77.64%
Amgen Inc. 58.71% 61.56% 64.76% 68.60% 72.35% 72.87% 73.65% 74.17% 73.99% 74.00% 73.30% 73.44% 74.00% 73.97% 74.37% 74.59% 75.55% 77.15% 78.90% 80.38%
Bristol-Myers Squibb Co. 74.91% 75.38% 75.71% 76.24% 76.54% 77.01% 77.68% 78.04% 78.82% 79.13% 79.62% 78.57% 76.92% 75.88% 74.42% 72.31% 71.18% 69.47% 68.02% 69.10%
Danaher Corp. 59.37% 59.27% 58.39% 58.74% 58.77% 59.17% 60.22% 60.21% 60.65% 60.77% 60.77% 60.95% 60.44% 59.24% 57.60% 55.98% 55.04% 55.28% 55.85% 55.74%
Eli Lilly & Co. 80.91% 80.75% 80.16% 79.25% 78.67% 77.77% 77.67% 76.77% 75.61% 75.98% 74.40% 74.18% 74.85% 74.27% 75.88% 77.66% 78.26% 78.67% 79.22% 78.85%
Gilead Sciences Inc. 75.56% 75.62% 75.87% 78.66% 79.27% 78.94% 79.03% 74.31% 75.30% 75.50% 75.56% 80.23% 79.90% 80.32% 81.23% 78.72% 78.25% 79.06% 78.86%
Johnson & Johnson 69.05% 69.06% 69.20% 68.82% 68.54% 68.06% 67.34% 67.26% 67.43% 67.86% 67.97% 68.16% 67.51% 67.00% 66.24% 65.58% 65.68% 65.66% 66.15% 66.42%
Merck & Co. Inc. 75.25% 74.37% 73.17% 72.86% 72.96% 72.43% 70.63% 70.49% 70.41% 70.72% 72.02% 67.95% 67.48% 66.99% 67.74% 71.23% 70.06% 70.11% 69.87%
Moderna Inc. 31.01% 20.22% 29.65% 34.97% 55.04% 63.80% 70.62% 78.30% 81.66% 84.26% 85.19% 84.71% 84.49% 89.60% 96.03%
Pfizer Inc. 67.73% 58.18% 58.09% 58.10% 60.97% 69.61% 68.61% 65.77% 65.53% 62.18% 60.35% 62.08% 65.28% 70.96% 76.46% 79.26% 80.47% 80.19% 80.03% 80.25%
Regeneron Pharmaceuticals Inc. 86.12% 86.16% 86.32% 86.16% 85.96% 86.42% 86.96% 87.18% 85.39% 84.97% 84.65% 84.83% 86.65% 86.85% 86.84% 86.82% 87.98% 88.21% 89.72% 90.05%

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
Gross profit margin = 100 × (Gross profitQ3 2024 + Gross profitQ2 2024 + Gross profitQ1 2024 + Gross profitQ4 2023) ÷ (RevenuesQ3 2024 + RevenuesQ2 2024 + RevenuesQ1 2024 + RevenuesQ4 2023)
= 100 × (4,328 + 4,347 + 4,205 + 4,393) ÷ (10,598 + 10,541 + 10,345 + 10,886) = 40.77%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Thermo Fisher Scientific Inc. gross profit margin ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Operating Profit Margin

Thermo Fisher Scientific Inc., operating profit margin calculation (quarterly data)

Microsoft Excel
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)
Operating income 1,838 1,820 1,663 1,854 1,864 1,578 1,563 1,861 1,710 2,001 2,821 2,538 2,278 2,163 3,049 3,071 2,426 1,391 906 1,232 946 1,496 920
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
Profitability Ratio
Operating profit margin1 16.93% 17.01% 16.38% 16.00% 15.81% 15.42% 16.29% 18.69% 20.54% 22.51% 23.83% 25.57% 27.04% 28.00% 27.68% 24.19% 20.90% 17.05% 17.86% 17.99%
Benchmarks
Operating Profit Margin, Competitors2
AbbVie Inc. 24.89% 22.31% 23.50% 23.49% 27.32% 31.03% 28.49% 31.21% 30.59% 30.33% 32.68% 31.89% 30.09% 28.95% 23.63% 24.81% 28.45% 30.17% 39.86% 39.03%
Amgen Inc. 19.97% 20.96% 24.72% 29.35% 34.55% 37.50% 36.07% 38.57% 39.31% 38.04% 32.78% 31.44% 30.14% 30.72% 37.23% 37.70% 38.59% 39.76% 41.89% 43.57%
Bristol-Myers Squibb Co. -14.05% -14.39% -14.30% 16.18% 16.96% 17.29% 18.13% 17.96% 19.04% 18.19% 16.79% 15.91% -15.73% -17.02% -19.19% -21.60% 9.27% 11.67% 16.30% 22.62%
Danaher Corp. 20.11% 21.22% 21.05% 21.77% 23.83% 25.06% 27.02% 27.61% 27.35% 25.44% 25.23% 25.35% 24.63% 25.04% 22.30% 18.99% 17.61% 17.37% 18.01% 18.25%
Eli Lilly & Co. 24.81% 23.28% 20.80% 18.92% 18.42% 24.17% 22.45% 24.97% 24.65% 25.50% 25.94% 22.45% 23.17% 21.81% 22.06% 24.69% 23.55% 24.48% 25.64% 22.29%
Gilead Sciences Inc. 9.26% 5.79% 28.24% 30.37% 31.18% 33.03% 27.17% 22.39% 25.78% 26.56% 36.72% 42.79% 37.20% 18.07% 16.72% 11.01% -4.40% 19.89% 19.38%
Johnson & Johnson 24.42% 25.31% 25.04% 24.90% 25.55% 25.61% 25.21% 24.63% 23.89% 23.47% 23.76% 24.95% 24.69% 25.23% 24.10% 23.60% 24.30% 24.64% 25.62% 24.15%
Merck & Co. Inc. 24.75% 6.93% 3.92% 13.08% 10.34% 27.85% 30.27% 30.66% 33.04% 28.85% 25.74% 14.07% 10.64% 14.02% 16.47% 26.87% 25.40% 25.49% 24.77%
Moderna Inc. -94.57% -102.57% -63.54% -30.50% 5.08% 33.67% 51.10% 64.60% 70.46% 74.34% 75.22% 69.57% 62.28% 32.79% -381.82%
Pfizer Inc. 9.56% -4.19% -2.08% 2.15% 14.36% 28.13% 34.44% 34.83% 33.59% 30.37% 26.12% 23.91% 24.67% 24.12% 21.20% 19.47% 21.17% 21.17% 24.20% 25.46%
Regeneron Pharmaceuticals Inc. 28.69% 28.95% 29.40% 30.85% 32.23% 34.20% 35.79% 38.93% 45.45% 48.19% 55.08% 55.67% 55.19% 53.94% 43.37% 42.09% 37.43% 34.64% 30.45% 28.10%

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
Operating profit margin = 100 × (Operating incomeQ3 2024 + Operating incomeQ2 2024 + Operating incomeQ1 2024 + Operating incomeQ4 2023) ÷ (RevenuesQ3 2024 + RevenuesQ2 2024 + RevenuesQ1 2024 + RevenuesQ4 2023)
= 100 × (1,838 + 1,820 + 1,663 + 1,854) ÷ (10,598 + 10,541 + 10,345 + 10,886) = 16.93%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Thermo Fisher Scientific Inc. operating profit margin ratio improved from Q1 2024 to Q2 2024 but then slightly deteriorated from Q2 2024 to Q3 2024.

Net Profit Margin

Thermo Fisher Scientific Inc., net profit margin calculation (quarterly data)

Microsoft Excel
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)
Net income attributable to Thermo Fisher Scientific Inc. 1,630 1,548 1,328 1,630 1,715 1,361 1,289 1,576 1,495 1,664 2,215 1,658 1,902 1,828 2,337 2,498 1,933 1,156 788 1,002 760 1,119 815
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
Profitability Ratio
Net profit margin1 14.48% 14.69% 14.20% 13.99% 13.68% 13.14% 13.75% 15.47% 15.92% 17.37% 18.49% 19.70% 21.93% 22.47% 22.08% 19.79% 17.12% 14.12% 14.31% 14.47%
Benchmarks
Net Profit Margin, Competitors2
AbbVie Inc. 9.22% 9.71% 11.02% 8.95% 11.81% 15.50% 13.37% 20.39% 23.19% 22.04% 22.00% 20.54% 13.66% 12.40% 10.28% 10.08% 18.16% 19.20% 24.77% 23.69%
Amgen Inc. 13.58% 10.60% 13.35% 24.96% 29.52% 31.52% 31.77% 26.42% 27.88% 26.73% 23.42% 24.25% 23.03% 23.80% 29.60% 29.97% 30.91% 31.53% 33.64% 35.32%
Bristol-Myers Squibb Co. -15.30% -14.06% -13.50% 17.83% 18.44% 17.62% 15.95% 13.71% 14.29% 14.04% 13.31% 15.08% -11.89% -11.44% -14.53% -21.20% -0.11% -1.61% 3.08% 13.15%
Danaher Corp. 16.39% 17.83% 18.54% 19.94% 22.89% 22.80% 23.32% 22.91% 21.65% 20.61% 21.32% 21.84% 20.97% 21.00% 19.17% 16.36% 18.05% 18.35% 18.13% 16.80%
Eli Lilly & Co. 20.48% 18.86% 17.08% 15.36% 15.55% 22.01% 20.54% 21.88% 20.63% 19.58% 20.90% 19.71% 21.52% 22.71% 23.91% 25.24% 24.01% 24.48% 23.97% 37.27%
Gilead Sciences Inc. 3.82% 1.78% 21.03% 21.60% 20.18% 20.87% 17.02% 12.44% 15.22% 16.60% 23.05% 27.21% 19.62% 1.19% 0.51% 5.56% -1.18% 22.17% 24.35%
Johnson & Johnson 16.74% 43.91% 44.92% 41.28% 39.58% 14.52% 13.77% 18.90% 19.95% 19.21% 20.90% 22.26% 19.55% 19.92% 17.95% 17.82% 21.01% 18.86% 20.75% 18.42%
Merck & Co. Inc. 21.98% 3.76% 0.61% 7.77% 5.34% 22.52% 24.49% 25.88% 29.00% 26.27% 26.79% 15.09% 11.83% 15.09% 14.72% 24.33% 22.20% 21.10% 21.01%
Moderna Inc. -119.71% -119.12% -70.66% -39.67% 11.95% 33.37% 45.36% 57.36% 63.31% 66.94% 69.04% 64.55% 57.01% 30.95% -373.77%
Pfizer Inc. 7.04% -4.62% -0.55% 3.56% 15.13% 27.38% 31.19% 31.27% 29.81% 28.94% 27.01% 27.04% 28.77% 23.86% 24.03% 22.95% 18.59% 31.31% 32.32% 31.45%
Regeneron Pharmaceuticals Inc. 33.61% 32.04% 29.45% 30.14% 30.47% 33.93% 33.81% 35.64% 39.17% 39.97% 48.06% 50.25% 51.65% 50.11% 43.53% 41.35% 38.28% 37.30% 28.56% 26.91%

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 profit margin = 100 × (Net income attributable to Thermo Fisher Scientific Inc.Q3 2024 + Net income attributable to Thermo Fisher Scientific Inc.Q2 2024 + Net income attributable to Thermo Fisher Scientific Inc.Q1 2024 + Net income attributable to Thermo Fisher Scientific Inc.Q4 2023) ÷ (RevenuesQ3 2024 + RevenuesQ2 2024 + RevenuesQ1 2024 + RevenuesQ4 2023)
= 100 × (1,630 + 1,548 + 1,328 + 1,630) ÷ (10,598 + 10,541 + 10,345 + 10,886) = 14.48%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Thermo Fisher Scientific Inc. net profit margin ratio improved from Q1 2024 to Q2 2024 but then slightly deteriorated from Q2 2024 to Q3 2024.

Return on Equity (ROE)

Thermo Fisher Scientific Inc., ROE calculation (quarterly data)

Microsoft Excel
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)
Net income attributable to Thermo Fisher Scientific Inc. 1,630 1,548 1,328 1,630 1,715 1,361 1,289 1,576 1,495 1,664 2,215 1,658 1,902 1,828 2,337 2,498 1,933 1,156 788 1,002 760 1,119 815
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
Profitability Ratio
ROE1 12.52% 13.12% 13.26% 12.83% 13.11% 13.08% 14.26% 15.80% 16.15% 17.59% 18.56% 18.94% 22.13% 23.32% 22.60% 18.47% 15.33% 12.41% 12.85% 12.45%
Benchmarks
ROE, Competitors2
AbbVie Inc. 84.91% 78.77% 74.85% 46.94% 53.86% 67.50% 57.14% 68.60% 83.83% 86.24% 76.64% 74.91% 55.60% 53.01% 37.63% 35.30% 48.34% 47.30%
Amgen Inc. 56.20% 52.83% 74.93% 107.78% 98.82% 117.67% 148.04% 178.97% 187.11% 271.85% 624.78% 87.96% 68.26% 69.67% 75.91% 77.20% 67.09% 68.48% 80.92% 81.07%
Bristol-Myers Squibb Co. -42.34% -38.44% -37.28% 27.27% 28.57% 24.91% 22.97% 20.37% 20.44% 20.30% 19.79% 19.46% -14.52% -13.80% -16.54% -23.84% -0.09% -1.15% 1.91% 6.66%
Danaher Corp. 7.59% 8.42% 8.24% 8.91% 11.29% 12.30% 13.47% 14.39% 14.40% 13.63% 13.93% 14.24% 13.54% 13.12% 11.76% 9.17% 9.70% 9.56% 10.53% 9.94%
Eli Lilly & Co. 58.78% 54.14% 47.91% 48.65% 44.46% 58.73% 50.82% 58.64% 59.91% 66.61% 65.69% 62.16% 76.99% 94.20% 88.31% 109.79% 115.45% 137.26% 179.72% 319.09%
Gilead Sciences Inc. 5.77% 2.77% 24.81% 26.33% 25.92% 26.59% 21.62% 15.82% 20.44% 22.66% 29.55% 34.44% 26.20% 1.59% 0.68% 7.27% -1.43% 22.49% 23.91%
Johnson & Johnson 20.93% 53.14% 54.95% 51.11% 48.61% 17.37% 17.95% 23.36% 25.68% 24.05% 26.54% 28.20% 25.44% 25.53% 22.96% 23.25% 26.35% 24.11% 28.01% 25.42%
Merck & Co. Inc. 31.52% 5.71% 0.97% 11.17% 8.04% 27.82% 31.57% 34.32% 38.34% 34.68% 34.17% 20.10% 16.73% 26.08% 27.91% 39.47% 37.91% 38.72% 37.99%
Moderna Inc. -50.09% -46.56% -34.03% -25.76% 7.12% 25.36% 43.73% 65.39% 78.15% 85.73% 86.26% 69.75% 52.13% 15.59% -29.17% -21.66% -16.54% -30.82% -43.75%
Pfizer Inc. 4.61% -2.96% -0.33% 2.38% 10.81% 21.68% 28.77% 32.79% 32.14% 33.61% 30.29% 28.47% 26.28% 18.86% 16.23% 15.21% 12.22% 22.05% 24.21% 25.77%
Regeneron Pharmaceuticals Inc. 15.87% 15.32% 14.29% 15.22% 16.03% 17.90% 17.80% 19.14% 25.05% 27.49% 39.84% 43.03% 40.53% 41.02% 33.43% 31.86% 31.17% 32.94% 18.79% 19.08%

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
ROE = 100 × (Net income attributable to Thermo Fisher Scientific Inc.Q3 2024 + Net income attributable to Thermo Fisher Scientific Inc.Q2 2024 + Net income attributable to Thermo Fisher Scientific Inc.Q1 2024 + Net income attributable to Thermo Fisher Scientific Inc.Q4 2023) ÷ Total Thermo Fisher Scientific Inc. shareholders’ equity
= 100 × (1,630 + 1,548 + 1,328 + 1,630) ÷ 48,992 = 12.52%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Thermo Fisher Scientific Inc. ROE deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Return on Assets (ROA)

Thermo Fisher Scientific Inc., ROA calculation (quarterly data)

Microsoft Excel
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)
Net income attributable to Thermo Fisher Scientific Inc. 1,630 1,548 1,328 1,630 1,715 1,361 1,289 1,576 1,495 1,664 2,215 1,658 1,902 1,828 2,337 2,498 1,933 1,156 788 1,002 760 1,119 815
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
Profitability Ratio
ROA1 6.11% 6.32% 6.21% 6.07% 6.12% 6.08% 6.36% 7.15% 7.77% 8.21% 8.20% 8.12% 11.64% 12.70% 12.02% 9.23% 7.62% 6.02% 6.25% 6.33%
Benchmarks
ROA, Competitors2
AbbVie Inc. 3.57% 3.76% 4.03% 3.61% 4.78% 6.42% 5.64% 8.53% 9.49% 8.83% 8.71% 7.88% 5.06% 4.50% 3.43% 3.07% 4.93% 4.65% 9.25% 8.84%
Amgen Inc. 4.65% 3.44% 4.05% 6.91% 8.36% 8.84% 8.92% 10.06% 10.73% 11.09% 9.67% 9.63% 8.63% 9.61% 11.33% 11.54% 11.37% 11.23% 12.45% 13.13%
Bristol-Myers Squibb Co. -7.75% -6.91% -6.21% 8.43% 9.08% 8.52% 7.75% 6.53% 6.80% 6.59% 6.07% 6.40% -4.87% -4.58% -5.53% -7.61% -0.04% -0.44% 0.74% 2.65%
Danaher Corp. 4.83% 5.35% 5.28% 5.64% 6.74% 7.49% 8.15% 8.55% 8.35% 7.76% 7.74% 7.73% 7.13% 7.19% 6.30% 4.79% 5.05% 4.86% 4.74% 4.85%
Eli Lilly & Co. 11.07% 10.22% 9.60% 8.19% 8.61% 11.85% 10.70% 12.62% 12.71% 12.09% 13.06% 11.44% 12.39% 12.70% 13.01% 13.28% 12.68% 13.39% 13.46% 21.17%
Gilead Sciences Inc. 1.97% 0.86% 9.12% 9.42% 8.80% 9.02% 7.27% 5.33% 6.58% 7.16% 9.16% 11.02% 7.59% 0.45% 0.18% 2.08% -0.46% 8.31% 8.74%
Johnson & Johnson 8.24% 20.99% 22.37% 20.98% 20.85% 6.81% 6.49% 9.57% 10.94% 10.33% 11.12% 11.47% 9.98% 10.07% 8.76% 8.41% 9.95% 9.59% 11.07% 9.59%
Merck & Co. Inc. 12.20% 2.18% 0.34% 4.32% 2.98% 12.09% 13.30% 14.25% 15.48% 13.29% 12.35% 7.70% 6.14% 7.73% 7.72% 12.83% 11.56% 11.95% 11.66%
Moderna Inc. -37.42% -35.67% -25.58% -17.82% 5.52% 19.83% 32.34% 45.15% 53.97% 53.02% 49.46% 33.75% 21.64% 4.71% -10.18% -12.85% -13.98% -24.46% -32.34%
Pfizer Inc. 1.94% -1.20% -0.14% 0.94% 4.87% 9.75% 14.85% 15.91% 15.32% 15.01% 13.58% 12.11% 11.10% 7.78% 7.01% 6.23% 4.46% 7.97% 9.47% 9.72%
Regeneron Pharmaceuticals Inc. 12.43% 11.98% 11.22% 11.95% 12.41% 14.02% 13.91% 14.85% 19.40% 20.90% 30.11% 31.75% 29.55% 28.88% 22.53% 20.47% 19.62% 20.68% 14.46% 14.29%

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
ROA = 100 × (Net income attributable to Thermo Fisher Scientific Inc.Q3 2024 + Net income attributable to Thermo Fisher Scientific Inc.Q2 2024 + Net income attributable to Thermo Fisher Scientific Inc.Q1 2024 + Net income attributable to Thermo Fisher Scientific Inc.Q4 2023) ÷ Total assets
= 100 × (1,630 + 1,548 + 1,328 + 1,630) ÷ 100,364 = 6.11%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Thermo Fisher Scientific Inc. ROA improved from Q1 2024 to Q2 2024 but then deteriorated significantly from Q2 2024 to Q3 2024.