Stock Analysis on Net
Stock Analysis on Net

Thermo Fisher Scientific Inc. (NYSE:TMO)

Common-Size Income Statement

Thermo Fisher Scientific Inc., common-size consolidated income statement

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12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Product revenues 58.90 63.56 77.43 78.55 76.33
Service revenues 41.10 36.44 22.57 21.45 23.67
Revenues 100.00% 100.00% 100.00% 100.00% 100.00%
Cost of product revenues -30.73 -31.72 -34.67 -35.41 -39.30
Cost of service revenues -29.37 -26.04 -15.25 -14.92 -16.35
Cost of revenues -60.10% -57.76% -49.92% -50.33% -55.65%
Gross profit 39.90% 42.24% 50.08% 49.67% 44.35%
Selling, general and administrative expenses -19.71 -20.02 -20.42 -21.51 -24.05
Research and development expenses -3.12 -3.28 -3.59 -3.67 -3.93
Restructuring and other income (costs) -1.07 -0.25 -0.50 -0.31 1.62
Operating income 16.00% 18.69% 25.57% 24.19% 17.99%
Interest income 2.05 0.61 0.11 0.20 0.88
Interest expense -3.21 -1.62 -1.37 -1.72 -2.65
Other income (expense) -0.15 -0.23 -1.77 -0.24 -0.27
Income before income taxes 14.70% 17.44% 22.55% 22.44% 15.94%
Provision for income taxes -0.66 -1.57 -2.83 -2.64 -1.46
Equity in losses of unconsolidated entities -0.14 -0.38 -0.01 -0.01 0.00
Net income 13.90% 15.50% 19.71% 19.79% 14.48%
Net (income) losses attributable to noncontrolling interests and redeemable noncontrolling interest 0.09 -0.02 -0.01 -0.01 -0.01
Net income attributable to Thermo Fisher Scientific Inc. 13.99% 15.47% 19.70% 19.79% 14.47%

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).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. Thermo Fisher Scientific Inc. operating income as a percentage of revenues decreased from 2021 to 2022 and from 2022 to 2023.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Thermo Fisher Scientific Inc. income before income taxes as a percentage of revenues decreased from 2021 to 2022 and from 2022 to 2023.
Net income attributable to Thermo Fisher Scientific Inc. The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Thermo Fisher Scientific Inc. net income attributable to Thermo Fisher Scientific Inc. as a percentage of revenues decreased from 2021 to 2022 and from 2022 to 2023.