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, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Life Sciences Solutions | 36.37% | 34.28% | 41.25% | 50.01% | 50.21% |
| Analytical Instruments | 26.20% | 26.27% | 22.75% | 19.72% | 15.77% |
| Specialty Diagnostics | 25.69% | 25.52% | 21.50% | 22.62% | 25.60% |
| Laboratory Products and Biopharma Services | 13.34% | 14.57% | 12.76% | 12.41% | 10.38% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Life Sciences Solutions | Life Sciences Solutions segment profit margin ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Analytical Instruments | Analytical Instruments segment profit margin ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024. | |
| Specialty Diagnostics | Specialty Diagnostics segment profit margin ratio improved from 2022 to 2023 and from 2023 to 2024. | |
| Laboratory Products and Biopharma Services | Laboratory Products and Biopharma Services segment profit margin ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |
Segment Profit Margin: Life Sciences Solutions
Thermo Fisher Scientific Inc.; Life Sciences Solutions; segment profit margin calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment income | 3,503) | 3,420) | 5,582) | 7,817) | 6,109) |
| Revenues | 9,631) | 9,977) | 13,532) | 15,631) | 12,168) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 36.37% | 34.28% | 41.25% | 50.01% | 50.21% |
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).
1 2024 Calculation
Segment profit margin = 100 × Segment income ÷ Revenues
= 100 × 3,503 ÷ 9,631 = 36.37%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Life Sciences Solutions | Life Sciences Solutions segment profit margin ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Segment Profit Margin: Analytical Instruments
Thermo Fisher Scientific Inc.; Analytical Instruments; segment profit margin calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment income | 1,955) | 1,908) | 1,507) | 1,197) | 808) |
| Revenues | 7,463) | 7,263) | 6,624) | 6,069) | 5,124) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 26.20% | 26.27% | 22.75% | 19.72% | 15.77% |
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).
1 2024 Calculation
Segment profit margin = 100 × Segment income ÷ Revenues
= 100 × 1,955 ÷ 7,463 = 26.20%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Analytical Instruments | Analytical Instruments segment profit margin ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024. |
Segment Profit Margin: Specialty Diagnostics
Thermo Fisher Scientific Inc.; Specialty Diagnostics; segment profit margin calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment income | 1,159) | 1,124) | 1,024) | 1,280) | 1,368) |
| Revenues | 4,512) | 4,405) | 4,763) | 5,659) | 5,343) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 25.69% | 25.52% | 21.50% | 22.62% | 25.60% |
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).
1 2024 Calculation
Segment profit margin = 100 × Segment income ÷ Revenues
= 100 × 1,159 ÷ 4,512 = 25.69%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Specialty Diagnostics | Specialty Diagnostics segment profit margin ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Profit Margin: Laboratory Products and Biopharma Services
Thermo Fisher Scientific Inc.; Laboratory Products and Biopharma Services; segment profit margin calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment income | 3,090) | 3,358) | 2,872) | 1,844) | 1,271) |
| Revenues | 23,157) | 23,041) | 22,511) | 14,862) | 12,245) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 13.34% | 14.57% | 12.76% | 12.41% | 10.38% |
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).
1 2024 Calculation
Segment profit margin = 100 × Segment income ÷ Revenues
= 100 × 3,090 ÷ 23,157 = 13.34%
| 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 2022 to 2023 but then slightly deteriorated from 2023 to 2024 not reaching 2022 level. |
Segment Return on Assets (Segment ROA)
Thermo Fisher Scientific Inc., ROA by reportable segment
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Life Sciences Solutions | 117.47% | 107.34% | 145.18% | 34.36% | 30.23% |
| Analytical Instruments | 66.41% | 69.99% | 61.14% | 12.35% | 8.27% |
| Specialty Diagnostics | 95.16% | 97.74% | 95.17% | 21.30% | 20.94% |
| Laboratory Products and Biopharma Services | 50.28% | 52.88% | 44.68% | 3.50% | 5.60% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Life Sciences Solutions | Life Sciences Solutions segment ROA deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Analytical Instruments | Analytical Instruments segment ROA improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024. | |
| Specialty Diagnostics | Specialty Diagnostics segment ROA improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. | |
| Laboratory Products and Biopharma Services | Laboratory Products and Biopharma Services segment ROA improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024. |
Segment ROA: Life Sciences Solutions
Thermo Fisher Scientific Inc.; Life Sciences Solutions; segment ROA calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment income | 3,503) | 3,420) | 5,582) | 7,817) | 6,109) |
| Segment assets | 2,982) | 3,186) | 3,845) | 22,751) | 20,209) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 117.47% | 107.34% | 145.18% | 34.36% | 30.23% |
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).
1 2024 Calculation
Segment ROA = 100 × Segment income ÷ Segment assets
= 100 × 3,503 ÷ 2,982 = 117.47%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Life Sciences Solutions | Life Sciences Solutions segment ROA deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Segment ROA: Analytical Instruments
Thermo Fisher Scientific Inc.; Analytical Instruments; segment ROA calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment income | 1,955) | 1,908) | 1,507) | 1,197) | 808) |
| Segment assets | 2,944) | 2,726) | 2,465) | 9,692) | 9,773) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 66.41% | 69.99% | 61.14% | 12.35% | 8.27% |
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).
1 2024 Calculation
Segment ROA = 100 × Segment income ÷ Segment assets
= 100 × 1,955 ÷ 2,944 = 66.41%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Analytical Instruments | Analytical Instruments segment ROA improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024. |
Segment ROA: Specialty Diagnostics
Thermo Fisher Scientific Inc.; Specialty Diagnostics; segment ROA calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment income | 1,159) | 1,124) | 1,024) | 1,280) | 1,368) |
| Segment assets | 1,218) | 1,150) | 1,076) | 6,010) | 6,534) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 95.16% | 97.74% | 95.17% | 21.30% | 20.94% |
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).
1 2024 Calculation
Segment ROA = 100 × Segment income ÷ Segment assets
= 100 × 1,159 ÷ 1,218 = 95.16%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Specialty Diagnostics | Specialty Diagnostics segment ROA improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024. |
Segment ROA: Laboratory Products and Biopharma Services
Thermo Fisher Scientific Inc.; Laboratory Products and Biopharma Services; segment ROA calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment income | 3,090) | 3,358) | 2,872) | 1,844) | 1,271) |
| Segment assets | 6,145) | 6,350) | 6,428) | 52,639) | 22,711) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 50.28% | 52.88% | 44.68% | 3.50% | 5.60% |
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).
1 2024 Calculation
Segment ROA = 100 × Segment income ÷ Segment assets
= 100 × 3,090 ÷ 6,145 = 50.28%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Laboratory Products and Biopharma Services | Laboratory Products and Biopharma Services segment ROA improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024. |
Segment Asset Turnover
Thermo Fisher Scientific Inc., asset turnover by reportable segment
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Life Sciences Solutions | 3.23 | 3.13 | 3.52 | 0.69 | 0.60 |
| Analytical Instruments | 2.53 | 2.66 | 2.69 | 0.63 | 0.52 |
| Specialty Diagnostics | 3.70 | 3.83 | 4.43 | 0.94 | 0.82 |
| Laboratory Products and Biopharma Services | 3.77 | 3.63 | 3.50 | 0.28 | 0.54 |
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).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Life Sciences Solutions | Life Sciences Solutions segment asset turnover ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Analytical Instruments | Analytical Instruments segment asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. | |
| Specialty Diagnostics | Specialty Diagnostics segment asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. | |
| Laboratory Products and Biopharma Services | Laboratory Products and Biopharma Services segment asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024. |
Segment Asset Turnover: Life Sciences Solutions
Thermo Fisher Scientific Inc.; Life Sciences Solutions; segment asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | 9,631) | 9,977) | 13,532) | 15,631) | 12,168) |
| Segment assets | 2,982) | 3,186) | 3,845) | 22,751) | 20,209) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 3.23 | 3.13 | 3.52 | 0.69 | 0.60 |
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).
1 2024 Calculation
Segment asset turnover = Revenues ÷ Segment assets
= 9,631 ÷ 2,982 = 3.23
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Life Sciences Solutions | Life Sciences Solutions segment asset turnover ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Segment Asset Turnover: Analytical Instruments
Thermo Fisher Scientific Inc.; Analytical Instruments; segment asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | 7,463) | 7,263) | 6,624) | 6,069) | 5,124) |
| Segment assets | 2,944) | 2,726) | 2,465) | 9,692) | 9,773) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 2.53 | 2.66 | 2.69 | 0.63 | 0.52 |
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).
1 2024 Calculation
Segment asset turnover = Revenues ÷ Segment assets
= 7,463 ÷ 2,944 = 2.53
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Analytical Instruments | Analytical Instruments segment asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Segment Asset Turnover: Specialty Diagnostics
Thermo Fisher Scientific Inc.; Specialty Diagnostics; segment asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | 4,512) | 4,405) | 4,763) | 5,659) | 5,343) |
| Segment assets | 1,218) | 1,150) | 1,076) | 6,010) | 6,534) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 3.70 | 3.83 | 4.43 | 0.94 | 0.82 |
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).
1 2024 Calculation
Segment asset turnover = Revenues ÷ Segment assets
= 4,512 ÷ 1,218 = 3.70
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Specialty Diagnostics | Specialty Diagnostics segment asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Segment Asset Turnover: Laboratory Products and Biopharma Services
Thermo Fisher Scientific Inc.; Laboratory Products and Biopharma Services; segment asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | 23,157) | 23,041) | 22,511) | 14,862) | 12,245) |
| Segment assets | 6,145) | 6,350) | 6,428) | 52,639) | 22,711) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 3.77 | 3.63 | 3.50 | 0.28 | 0.54 |
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).
1 2024 Calculation
Segment asset turnover = Revenues ÷ Segment assets
= 23,157 ÷ 6,145 = 3.77
| 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 2022 to 2023 and from 2023 to 2024. |
Segment Capital Expenditures to Depreciation
Thermo Fisher Scientific Inc., capital expenditures to depreciation by reportable segment
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Life Sciences Solutions | 0.53 | 0.81 | 2.29 | 4.11 | 2.80 |
| Analytical Instruments | 0.92 | 0.94 | 1.69 | 0.95 | 0.97 |
| Specialty Diagnostics | 1.20 | 1.41 | 1.49 | 1.30 | 1.75 |
| Laboratory Products and Biopharma Services | 1.35 | 1.51 | 2.29 | 3.14 | 2.26 |
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).
| 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 2022 to 2023 and from 2023 to 2024. |
| Analytical Instruments | Analytical Instruments segment capital expenditures to depreciation ratio deteriorated from 2022 to 2023 and from 2023 to 2024. | |
| Specialty Diagnostics | Specialty Diagnostics segment capital expenditures to depreciation ratio deteriorated from 2022 to 2023 and from 2023 to 2024. | |
| Laboratory Products and Biopharma Services | Laboratory Products and Biopharma Services segment capital expenditures to depreciation ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Segment Capital Expenditures to Depreciation: Life Sciences Solutions
Thermo Fisher Scientific Inc.; Life Sciences Solutions; segment capital expenditures to depreciation calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Purchases of property, plant and equipment | 123) | 178) | 490) | 810) | 392) |
| Depreciation of property, plant and equipment | 230) | 220) | 214) | 197) | 140) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.53 | 0.81 | 2.29 | 4.11 | 2.80 |
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).
1 2024 Calculation
Segment capital expenditures to depreciation = Purchases of property, plant and equipment ÷ Depreciation of property, plant and equipment
= 123 ÷ 230 = 0.53
| 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 2022 to 2023 and from 2023 to 2024. |
Segment Capital Expenditures to Depreciation: Analytical Instruments
Thermo Fisher Scientific Inc.; Analytical Instruments; segment capital expenditures to depreciation calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Purchases of property, plant and equipment | 95) | 87) | 140) | 79) | 74) |
| Depreciation of property, plant and equipment | 103) | 93) | 83) | 83) | 76) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.92 | 0.94 | 1.69 | 0.95 | 0.97 |
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).
1 2024 Calculation
Segment capital expenditures to depreciation = Purchases of property, plant and equipment ÷ Depreciation of property, plant and equipment
= 95 ÷ 103 = 0.92
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Analytical Instruments | Analytical Instruments segment capital expenditures to depreciation ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Segment Capital Expenditures to Depreciation: Specialty Diagnostics
Thermo Fisher Scientific Inc.; Specialty Diagnostics; segment capital expenditures to depreciation calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Purchases of property, plant and equipment | 125) | 121) | 112) | 167) | 175) |
| Depreciation of property, plant and equipment | 104) | 86) | 75) | 128) | 100) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.20 | 1.41 | 1.49 | 1.30 | 1.75 |
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).
1 2024 Calculation
Segment capital expenditures to depreciation = Purchases of property, plant and equipment ÷ Depreciation of property, plant and equipment
= 125 ÷ 104 = 1.20
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Specialty Diagnostics | Specialty Diagnostics segment capital expenditures to depreciation ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
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, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Purchases of property, plant and equipment | 971) | 1,013) | 1,403) | 1,327) | 772) |
| Depreciation of property, plant and equipment | 721) | 669) | 614) | 423) | 342) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.35 | 1.51 | 2.29 | 3.14 | 2.26 |
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).
1 2024 Calculation
Segment capital expenditures to depreciation = Purchases of property, plant and equipment ÷ Depreciation of property, plant and equipment
= 971 ÷ 721 = 1.35
| 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 2022 to 2023 and from 2023 to 2024. |
Revenues
Thermo Fisher Scientific Inc., revenues by reportable segment
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Life Sciences Solutions | 9,631) | 9,977) | 13,532) | 15,631) | 12,168) |
| Analytical Instruments | 7,463) | 7,263) | 6,624) | 6,069) | 5,124) |
| Specialty Diagnostics | 4,512) | 4,405) | 4,763) | 5,659) | 5,343) |
| Laboratory Products and Biopharma Services | 23,157) | 23,041) | 22,511) | 14,862) | 12,245) |
| Elimination of intersegment revenues | (1,884) | (1,829) | (2,515) | (3,010) | (2,662) |
| Consolidated | 42,879) | 42,857) | 44,915) | 39,211) | 32,218) |
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).
Segment income
Thermo Fisher Scientific Inc., segment income by reportable segment
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Life Sciences Solutions | 3,503) | 3,420) | 5,582) | 7,817) | 6,109) |
| Analytical Instruments | 1,955) | 1,908) | 1,507) | 1,197) | 808) |
| Specialty Diagnostics | 1,159) | 1,124) | 1,024) | 1,280) | 1,368) |
| Laboratory Products and Biopharma Services | 3,090) | 3,358) | 2,872) | 1,844) | 1,271) |
| Consolidated | 9,707) | 9,810) | 10,985) | 12,138) | 9,556) |
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).
Segment assets
Thermo Fisher Scientific Inc., segment assets by reportable segment
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Life Sciences Solutions | 2,982) | 3,186) | 3,845) | 22,751) | 20,209) |
| Analytical Instruments | 2,944) | 2,726) | 2,465) | 9,692) | 9,773) |
| Specialty Diagnostics | 1,218) | 1,150) | 1,076) | 6,010) | 6,534) |
| Laboratory Products and Biopharma Services | 6,145) | 6,350) | 6,428) | 52,639) | 22,711) |
| Unallocated amounts | 84,032) | 85,314) | 83,340) | 4,031) | 9,825) |
| Consolidated | 97,321) | 98,726) | 97,154) | 95,123) | 69,052) |
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).
Purchases of property, plant and equipment
Thermo Fisher Scientific Inc., purchases of property, plant and equipment by reportable segment
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Life Sciences Solutions | 123) | 178) | 490) | 810) | 392) |
| Analytical Instruments | 95) | 87) | 140) | 79) | 74) |
| Specialty Diagnostics | 125) | 121) | 112) | 167) | 175) |
| Laboratory Products and Biopharma Services | 971) | 1,013) | 1,403) | 1,327) | 772) |
| Unallocated amounts | 86) | 80) | 98) | 140) | 61) |
| Consolidated | 1,400) | 1,479) | 2,243) | 2,523) | 1,474) |
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).
Depreciation of property, plant and equipment
Thermo Fisher Scientific Inc., depreciation of property, plant and equipment by reportable segment
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Life Sciences Solutions | 230) | 220) | 214) | 197) | 140) |
| Analytical Instruments | 103) | 93) | 83) | 83) | 76) |
| Specialty Diagnostics | 104) | 86) | 75) | 128) | 100) |
| Laboratory Products and Biopharma Services | 721) | 669) | 614) | 423) | 342) |
| Consolidated | 1,158) | 1,068) | 986) | 831) | 658) |
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).