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Thermo Fisher Scientific Inc.

LSE:0R0H.LHealthcare

——At close · Market cap — · Next earnings Wed 21 Oct

Ratio	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	Current · undated	YoY
Gross margin	49.7%	50.1%	42.3%	39.9%	41.3%	37.7%	—	—
Operating margin	24.5%	26.3%	19.0%	16.0%	17.9%	18.2%	18.2%	+0.0 pts
Net margin	19.8%	19.7%	15.5%	14.0%	14.8%	15.1%	15.1%	+0.0 pts
EBITDA margin	31.6%	33.1%	26.6%	25.2%	27.5%	25.8%	—	—
Return on equity	18.5%	18.9%	15.8%	12.8%	12.8%	12.6%	12.6%	−0.0 pts
Return on assets	9.2%	8.1%	7.2%	6.1%	6.5%	6.1%	6.1%	+0.0 pts
Return on capital employed	13.4%	12.6%	10.6%	8.1%	9.1%	8.5%	—	—
Debt / equity	0.7×	0.9×	0.8×	0.8×	0.7×	0.8×	0.8×	−0.2%
Debt / assets	32.6%	38.2%	37.1%	37.2%	33.7%	37.0%	—	—
Interest coverage	14.3×	19.3×	11.7×	4.6×	4.6×	5.7×	—	—
Current ratio	2.1×	1.5×	1.5×	1.8×	1.7×	1.9×	1.9×	+0.0%
Quick ratio	1.7×	1.1×	1.2×	1.4×	1.3×	1.5×	—	—
Cash ratio	1.0×	0.3×	0.5×	0.6×	0.3×	0.6×	0.6×	+0.0%
Asset turnover	0.5×	0.4×	0.5×	0.4×	0.4×	0.4×	—	—
Inventory turnover	4.0×	3.9×	4.6×	5.1×	5.1×	5.1×	—	—
Receivables turnover	5.0×	4.4×	4.8×	4.4×	4.5×	5.0×	—	—
Dividend payout	5.3%	5.1%	6.5%	8.7%	9.2%	9.4%	—	—

Margins, returns, leverage and liquidityUpdated 31 Dec 2025 ·

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Current snapshot ratios have no reporting date and are shown separately from fiscal periods.