Analysis of Revenues
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- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
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Revenues as Reported
Thermo Fisher Scientific Inc., income statement, revenues
US$ in millions
| 12 months ended: | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Consumables | |||||||||||
| Instruments | |||||||||||
| Services | |||||||||||
| Consolidated revenues |
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).
- Consumables Revenue Trend
- The revenue from consumables exhibited an increase from 18,527 million US dollars in 2020 to 22,608 million in 2021, representing a significant growth. However, this was followed by a decline to 20,624 million in 2022. The downward trend continued into 2023 and 2024, with revenues decreasing to 17,597 million and 17,587 million respectively. Overall, consumables revenue showed initial growth but experienced a consistent decline over the last three reported years, returning to a level close to that of 2020.
- Instruments Revenue Trend
- Instrument revenues steadily increased from 6,779 million US dollars in 2020 to a peak of 7,924 million in 2022. Subsequent years saw a slight decrease, with revenues falling to 7,646 million in 2023 and 7,446 million in 2024. Despite this minor reduction, instrument revenues remained relatively stable with only a modest decline after reaching the 2022 peak.
- Services Revenue Trend
- Services revenue demonstrated strong growth over the period. Beginning at 6,912 million US dollars in 2020, it rose consistently each year, reaching 8,850 million in 2021. A marked acceleration occurred in 2022, with revenues nearly doubling to 16,367 million. Further growth was recorded with revenues increasing to 17,614 million in 2023 and 17,846 million in 2024. Services appear to be the principal driver of revenue growth in recent years, showing remarkable expansion.
- Consolidated Revenue Overview
- Total consolidated revenues increased significantly from 32,218 million US dollars in 2020 to a peak of 44,915 million in 2022. A slight decline followed in 2023 and 2024, with revenues decreasing marginally to 42,857 million and 42,879 million respectively. Despite this minor dip, the company maintained a strong consolidated revenue level well above the 2020 baseline, largely influenced by the rapid expansion in services.
- Summary of Patterns and Insights
- The analysis reveals that while consumables and instruments revenues showed a mixed pattern with initial growth followed by declines or stabilization, the services segment experienced substantial and sustained growth, particularly from 2021 onward. This shift suggests a strategic pivot or market trend favoring services over traditional product segments. Consolidated revenues reflect this dynamic, achieving significant gains up to 2022 and maintaining elevated levels thereafter despite reduced contributions from consumables and instruments. The data suggest an evolving revenue composition, with services becoming increasingly important for overall financial performance.