Aureus
BGood

Thermo Fisher Scientific Inc(TMO)

B

Financial data as of Dec 31, 2025Stable · Healthcare

FCF Margin14.1%Free Cash Flow / Revenue
Cash Conversion116.6%Operating CF / Net Income
Free Cash Flow$6.3B
Revenue$44.6B
Net Cash-$29.5BNet debt position
Debt / FCF6.3xElevated debt burden
Current Ratio1.89Adequate short-term liquidity
YoY FCF Growth+6.5%5 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseB
→
-0.5Elevated debt-to-FCF ratio (6.3x)
→
+0.5Healthy FCF margin with manageable debt (14.1%, 6.3x)
→
FinalB

Analysis Summary

Strengths

  • Healthy FCF margin (14.1%)
  • Excellent cash conversion (117%)

Concerns

  • Heavy debt position ($29.5B net debt, 6.3x FCF)
  • High debt-to-FCF ratio (6.3x)

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin14.1%
Net Margin15.0%
Operating CF Margin17.5%
CapEx Ratio3.4%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$29.5BNet debt position
Debt / FCF6.3xElevated debt burden
Current Ratio1.89Strong liquidity
Debt / Equity0.74Low leverage

Quarterly FCF Trend

+6.5% YoYStable (+6.5%)

Free cash flow per quarter

Sector Comparison — Healthcare

FCF Margin ranked against sector peers

View all →

Detailed Metrics

Company NameThermo Fisher Scientific Inc
SectorHealthcare
Free Cash Flow$6.3B
Revenue$44.6B
Net Income$6.7B
Operating Cash Flow$7.8B
Capital Expenditure$1.5B
FCF Margin14.1%
Cash Conversion Rate116.6%
Net Margin15.0%
Total Debt$39.4B
Total Cash$9.9B
Net Cash-$29.5B
Current Ratio1.89
Debt / Equity0.74
Debt / FCF6.3x
YoY FCF Growth+6.5%
Positive Quarters5 of 5
Trend DirectionStable
Report DateDec 31, 2025
GradeB
Data SourceYahoo Finance