Analysis of Reportable Segments
Thermo Fisher Scientific Inc. operates in 4 segments: Life Sciences Solutions; Analytical Instruments; Specialty Diagnostics; and Laboratory Products and Biopharma Services.
Segment Profit Margin
Thermo Fisher Scientific Inc., profit margin by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Life Sciences Solutions | 34.28% | 41.25% | 50.01% | 50.21% | 35.68% |
| Analytical Instruments | 26.27% | 22.75% | 19.72% | 15.77% | 23.05% |
| Specialty Diagnostics | 25.52% | 21.50% | 22.62% | 25.60% | 25.01% |
| Laboratory Products and Biopharma Services | 14.57% | 12.76% | 12.41% | 10.38% | 12.49% |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Life Sciences Solutions | Life Sciences Solutions segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Analytical Instruments | Analytical Instruments segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. | |
| Specialty Diagnostics | Specialty Diagnostics segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. | |
| Laboratory Products and Biopharma Services | Laboratory Products and Biopharma Services segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Life Sciences Solutions
Thermo Fisher Scientific Inc.; Life Sciences Solutions; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment income | 3,420) | 5,582) | 7,817) | 6,109) | 2,446) |
| Revenues | 9,977) | 13,532) | 15,631) | 12,168) | 6,856) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 34.28% | 41.25% | 50.01% | 50.21% | 35.68% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Segment income ÷ Revenues
= 100 × 3,420 ÷ 9,977 = 34.28%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Life Sciences Solutions | Life Sciences Solutions segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Analytical Instruments
Thermo Fisher Scientific Inc.; Analytical Instruments; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment income | 1,908) | 1,507) | 1,197) | 808) | 1,273) |
| Revenues | 7,263) | 6,624) | 6,069) | 5,124) | 5,522) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 26.27% | 22.75% | 19.72% | 15.77% | 23.05% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Segment income ÷ Revenues
= 100 × 1,908 ÷ 7,263 = 26.27%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Analytical Instruments | Analytical Instruments segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Specialty Diagnostics
Thermo Fisher Scientific Inc.; Specialty Diagnostics; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment income | 1,124) | 1,024) | 1,280) | 1,368) | 930) |
| Revenues | 4,405) | 4,763) | 5,659) | 5,343) | 3,718) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 25.52% | 21.50% | 22.62% | 25.60% | 25.01% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Segment income ÷ Revenues
= 100 × 1,124 ÷ 4,405 = 25.52%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Specialty Diagnostics | Specialty Diagnostics segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Segment Profit Margin: Laboratory Products and Biopharma Services
Thermo Fisher Scientific Inc.; Laboratory Products and Biopharma Services; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment income | 3,358) | 2,872) | 1,844) | 1,271) | 1,324) |
| Revenues | 23,041) | 22,511) | 14,862) | 12,245) | 10,599) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 14.57% | 12.76% | 12.41% | 10.38% | 12.49% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Segment income ÷ Revenues
= 100 × 3,358 ÷ 23,041 = 14.57%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Laboratory Products and Biopharma Services | Laboratory Products and Biopharma Services segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Return on Assets (Segment ROA)
Thermo Fisher Scientific Inc., ROA by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Life Sciences Solutions | 16.94% | 25.55% | 34.36% | 30.23% | 13.36% |
| Analytical Instruments | 18.62% | 15.04% | 12.35% | 8.27% | 12.86% |
| Specialty Diagnostics | 13.02% | 18.48% | 21.30% | 20.94% | 15.85% |
| Laboratory Products and Biopharma Services | 6.57% | 5.60% | 3.50% | 5.60% | 6.08% |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Life Sciences Solutions | Life Sciences Solutions segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Analytical Instruments | Analytical Instruments segment ROA improved from 2021 to 2022 and from 2022 to 2023. | |
| Specialty Diagnostics | Specialty Diagnostics segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Laboratory Products and Biopharma Services | Laboratory Products and Biopharma Services segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Life Sciences Solutions
Thermo Fisher Scientific Inc.; Life Sciences Solutions; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment income | 3,420) | 5,582) | 7,817) | 6,109) | 2,446) |
| Total assets | 20,191) | 21,848) | 22,751) | 20,209) | 18,306) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 16.94% | 25.55% | 34.36% | 30.23% | 13.36% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Segment income ÷ Total assets
= 100 × 3,420 ÷ 20,191 = 16.94%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Life Sciences Solutions | Life Sciences Solutions segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Analytical Instruments
Thermo Fisher Scientific Inc.; Analytical Instruments; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment income | 1,908) | 1,507) | 1,197) | 808) | 1,273) |
| Total assets | 10,247) | 10,019) | 9,692) | 9,773) | 9,896) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 18.62% | 15.04% | 12.35% | 8.27% | 12.86% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Segment income ÷ Total assets
= 100 × 1,908 ÷ 10,247 = 18.62%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Analytical Instruments | Analytical Instruments segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Specialty Diagnostics
Thermo Fisher Scientific Inc.; Specialty Diagnostics; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment income | 1,124) | 1,024) | 1,280) | 1,368) | 930) |
| Total assets | 8,636) | 5,542) | 6,010) | 6,534) | 5,867) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 13.02% | 18.48% | 21.30% | 20.94% | 15.85% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Segment income ÷ Total assets
= 100 × 1,124 ÷ 8,636 = 13.02%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Specialty Diagnostics | Specialty Diagnostics segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Laboratory Products and Biopharma Services
Thermo Fisher Scientific Inc.; Laboratory Products and Biopharma Services; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment income | 3,358) | 2,872) | 1,844) | 1,271) | 1,324) |
| Total assets | 51,091) | 51,281) | 52,639) | 22,711) | 21,761) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 6.57% | 5.60% | 3.50% | 5.60% | 6.08% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Segment income ÷ Total assets
= 100 × 3,358 ÷ 51,091 = 6.57%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Laboratory Products and Biopharma Services | Laboratory Products and Biopharma Services segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover
Thermo Fisher Scientific Inc., asset turnover by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Life Sciences Solutions | 0.49 | 0.62 | 0.69 | 0.60 | 0.37 |
| Analytical Instruments | 0.71 | 0.66 | 0.63 | 0.52 | 0.56 |
| Specialty Diagnostics | 0.51 | 0.86 | 0.94 | 0.82 | 0.63 |
| Laboratory Products and Biopharma Services | 0.45 | 0.44 | 0.28 | 0.54 | 0.49 |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Life Sciences Solutions | Life Sciences Solutions segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Analytical Instruments | Analytical Instruments segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. | |
| Specialty Diagnostics | Specialty Diagnostics segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Laboratory Products and Biopharma Services | Laboratory Products and Biopharma Services segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: Life Sciences Solutions
Thermo Fisher Scientific Inc.; Life Sciences Solutions; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | 9,977) | 13,532) | 15,631) | 12,168) | 6,856) |
| Total assets | 20,191) | 21,848) | 22,751) | 20,209) | 18,306) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.49 | 0.62 | 0.69 | 0.60 | 0.37 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Revenues ÷ Total assets
= 9,977 ÷ 20,191 = 0.49
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Life Sciences Solutions | Life Sciences Solutions segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: Analytical Instruments
Thermo Fisher Scientific Inc.; Analytical Instruments; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | 7,263) | 6,624) | 6,069) | 5,124) | 5,522) |
| Total assets | 10,247) | 10,019) | 9,692) | 9,773) | 9,896) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.71 | 0.66 | 0.63 | 0.52 | 0.56 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Revenues ÷ Total assets
= 7,263 ÷ 10,247 = 0.71
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Analytical Instruments | Analytical Instruments segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: Specialty Diagnostics
Thermo Fisher Scientific Inc.; Specialty Diagnostics; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | 4,405) | 4,763) | 5,659) | 5,343) | 3,718) |
| Total assets | 8,636) | 5,542) | 6,010) | 6,534) | 5,867) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.51 | 0.86 | 0.94 | 0.82 | 0.63 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Revenues ÷ Total assets
= 4,405 ÷ 8,636 = 0.51
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Specialty Diagnostics | Specialty Diagnostics segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: Laboratory Products and Biopharma Services
Thermo Fisher Scientific Inc.; Laboratory Products and Biopharma Services; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | 23,041) | 22,511) | 14,862) | 12,245) | 10,599) |
| Total assets | 51,091) | 51,281) | 52,639) | 22,711) | 21,761) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.45 | 0.44 | 0.28 | 0.54 | 0.49 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Revenues ÷ Total assets
= 23,041 ÷ 51,091 = 0.45
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Laboratory Products and Biopharma Services | Laboratory Products and Biopharma Services segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation
Thermo Fisher Scientific Inc., capital expenditures to depreciation by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Life Sciences Solutions | 0.81 | 2.29 | 4.11 | 2.80 | 1.16 |
| Analytical Instruments | 0.94 | 1.69 | 0.95 | 0.97 | 0.85 |
| Specialty Diagnostics | 1.41 | 1.49 | 1.30 | 1.75 | 1.24 |
| Laboratory Products and Biopharma Services | 1.51 | 2.29 | 3.14 | 2.26 | 1.90 |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Life Sciences Solutions | Life Sciences Solutions segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Analytical Instruments | Analytical Instruments segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| Specialty Diagnostics | Specialty Diagnostics segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| Laboratory Products and Biopharma Services | Laboratory Products and Biopharma Services segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Life Sciences Solutions
Thermo Fisher Scientific Inc.; Life Sciences Solutions; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 178) | 490) | 810) | 392) | 151) |
| Depreciation | 220) | 214) | 197) | 140) | 130) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.81 | 2.29 | 4.11 | 2.80 | 1.16 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation
= 178 ÷ 220 = 0.81
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Life Sciences Solutions | Life Sciences Solutions segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Analytical Instruments
Thermo Fisher Scientific Inc.; Analytical Instruments; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 87) | 140) | 79) | 74) | 64) |
| Depreciation | 93) | 83) | 83) | 76) | 75) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.94 | 1.69 | 0.95 | 0.97 | 0.85 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation
= 87 ÷ 93 = 0.94
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Analytical Instruments | Analytical Instruments segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Specialty Diagnostics
Thermo Fisher Scientific Inc.; Specialty Diagnostics; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 121) | 112) | 167) | 175) | 83) |
| Depreciation | 86) | 75) | 128) | 100) | 67) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.41 | 1.49 | 1.30 | 1.75 | 1.24 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation
= 121 ÷ 86 = 1.41
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Specialty Diagnostics | Specialty Diagnostics segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Laboratory Products and Biopharma Services
Thermo Fisher Scientific Inc.; Laboratory Products and Biopharma Services; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 1,013) | 1,403) | 1,327) | 772) | 554) |
| Depreciation | 669) | 614) | 423) | 342) | 292) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.51 | 2.29 | 3.14 | 2.26 | 1.90 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation
= 1,013 ÷ 669 = 1.51
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Laboratory Products and Biopharma Services | Laboratory Products and Biopharma Services segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Revenues
Thermo Fisher Scientific Inc., revenues by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Life Sciences Solutions | 9,977) | 13,532) | 15,631) | 12,168) | 6,856) |
| Analytical Instruments | 7,263) | 6,624) | 6,069) | 5,124) | 5,522) |
| Specialty Diagnostics | 4,405) | 4,763) | 5,659) | 5,343) | 3,718) |
| Laboratory Products and Biopharma Services | 23,041) | 22,511) | 14,862) | 12,245) | 10,599) |
| Eliminations | (1,829) | (2,515) | (3,010) | (2,662) | (1,153) |
| Consolidated | 42,857) | 44,915) | 39,211) | 32,218) | 25,542) |
Based on: 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), 10-K (reporting date: 2019-12-31).
Segment income
Thermo Fisher Scientific Inc., segment income by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Life Sciences Solutions | 3,420) | 5,582) | 7,817) | 6,109) | 2,446) |
| Analytical Instruments | 1,908) | 1,507) | 1,197) | 808) | 1,273) |
| Specialty Diagnostics | 1,124) | 1,024) | 1,280) | 1,368) | 930) |
| Laboratory Products and Biopharma Services | 3,358) | 2,872) | 1,844) | 1,271) | 1,324) |
| Consolidated | 9,810) | 10,985) | 12,138) | 9,556) | 5,973) |
Based on: 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), 10-K (reporting date: 2019-12-31).
Depreciation
Thermo Fisher Scientific Inc., depreciation by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Life Sciences Solutions | 220) | 214) | 197) | 140) | 130) |
| Analytical Instruments | 93) | 83) | 83) | 76) | 75) |
| Specialty Diagnostics | 86) | 75) | 128) | 100) | 67) |
| Laboratory Products and Biopharma Services | 669) | 614) | 423) | 342) | 292) |
| Consolidated | 1,068) | 986) | 831) | 658) | 564) |
Based on: 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), 10-K (reporting date: 2019-12-31).
Total assets
Thermo Fisher Scientific Inc., total assets by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Life Sciences Solutions | 20,191) | 21,848) | 22,751) | 20,209) | 18,306) |
| Analytical Instruments | 10,247) | 10,019) | 9,692) | 9,773) | 9,896) |
| Specialty Diagnostics | 8,636) | 5,542) | 6,010) | 6,534) | 5,867) |
| Laboratory Products and Biopharma Services | 51,091) | 51,281) | 52,639) | 22,711) | 21,761) |
| Corporate/other | 8,561) | 8,464) | 4,031) | 9,825) | 2,551) |
| Consolidated | 98,726) | 97,154) | 95,123) | 69,052) | 58,381) |
Based on: 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), 10-K (reporting date: 2019-12-31).
Capital expenditures
Thermo Fisher Scientific Inc., capital expenditures by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Life Sciences Solutions | 178) | 490) | 810) | 392) | 151) |
| Analytical Instruments | 87) | 140) | 79) | 74) | 64) |
| Specialty Diagnostics | 121) | 112) | 167) | 175) | 83) |
| Laboratory Products and Biopharma Services | 1,013) | 1,403) | 1,327) | 772) | 554) |
| Corporate/other | 80) | 98) | 140) | 61) | 74) |
| Consolidated | 1,479) | 2,243) | 2,523) | 1,474) | 926) |
Based on: 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), 10-K (reporting date: 2019-12-31).