Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Thermo Fisher Scientific Inc., consolidated balance sheet: assets (quarterly data)

US$ in millions

	Jun 27, 2026	Mar 28, 2026	Dec 31, 2025	Sep 27, 2025	Jun 28, 2025	Mar 29, 2025	Dec 31, 2024	Sep 28, 2024	Jun 29, 2024	Mar 30, 2024	Dec 31, 2023	Sep 30, 2023	Jul 1, 2023	Apr 1, 2023	Dec 31, 2022	Oct 1, 2022	Jul 2, 2022	Apr 2, 2022	Dec 31, 2021	Oct 2, 2021	Jul 3, 2021	Apr 3, 2021
Cash and cash equivalents	4,064)	3,254)	9,852)	1,982)	4,576)	4,134)	4,009)	4,645)	7,073)	5,499)	8,077)	6,151)	3,133)	3,482)	8,524)	2,919)	1,888)	2,752)	4,477)	12,027)	7,023)	5,583)
Short-term investments	—)	2)	253)	1,564)	1,814)	1,813)	1,561)	2,000)	1,750)	1,751)	3)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Accounts receivable, less allowances	9,451)	9,204)	8,900)	8,911)	8,594)	8,455)	8,191)	8,255)	7,943)	7,931)	8,221)	8,370)	8,019)	7,922)	8,115)	7,671)	7,745)	7,889)	7,977)	5,557)	5,476)	5,554)
Inventories	5,627)	5,496)	5,425)	5,745)	5,559)	5,224)	4,978)	5,430)	5,198)	5,133)	5,088)	5,404)	5,655)	5,664)	5,634)	5,722)	5,668)	5,483)	5,051)	4,906)	4,625)	4,342)
Contract assets, net	1,688)	1,684)	1,666)	1,620)	1,441)	1,366)	1,435)	1,541)	1,487)	1,422)	1,443)	1,465)	1,467)	1,375)	1,312)	1,248)	1,147)	1,064)	968)	808)	804)	783)
Other current assets	2,535)	2,676)	2,611)	2,473)	2,600)	2,386)	1,963)	1,912)	2,025)	1,904)	1,757)	1,702)	1,721)	1,766)	1,644)	1,739)	1,652)	1,588)	1,640)	1,426)	1,332)	1,423)
Current assets	23,365)	22,316)	28,707)	22,295)	24,584)	23,378)	22,137)	23,783)	25,476)	23,640)	24,589)	23,092)	19,995)	20,209)	25,229)	19,299)	18,100)	18,776)	20,113)	24,724)	19,260)	17,685)
Property, plant and equipment, net	10,755)	10,658)	10,565)	10,177)	9,635)	9,331)	9,306)	9,412)	9,282)	9,324)	9,448)	9,167)	9,292)	9,354)	9,280)	8,628)	8,529)	8,448)	8,333)	7,049)	6,560)	6,133)
Acquisition-related intangible assets, net	18,606)	19,146)	15,838)	16,242)	15,148)	15,323)	15,533)	16,262)	15,519)	16,048)	16,670)	17,091)	17,437)	17,972)	17,442)	17,813)	18,578)	19,378)	20,113)	11,927)	12,390)	12,831)
Other assets	5,616)	5,974)	5,871)	5,019)	4,614)	4,516)	4,492)	4,181)	4,376)	4,240)	3,999)	4,124)	4,108)	3,983)	4,007)	4,308)	4,306)	4,424)	4,640)	2,991)	2,584)	2,459)
Goodwill	54,832)	55,187)	49,362)	49,287)	47,249)	46,493)	45,853)	46,726)	43,843)	43,843)	44,020)	43,583)	43,273)	43,140)	41,196)	40,488)	41,066)	41,721)	41,924)	26,909)	26,904)	26,823)
Long-term assets	89,809)	90,965)	81,636)	80,725)	76,646)	75,663)	75,184)	76,581)	73,020)	73,455)	74,137)	73,965)	74,110)	74,449)	71,925)	71,237)	72,479)	73,971)	75,010)	48,876)	48,438)	48,246)
Total assets	113,174)	113,281)	110,343)	103,020)	101,230)	99,041)	97,321)	100,364)	98,496)	97,095)	98,726)	97,057)	94,105)	94,658)	97,154)	90,536)	90,579)	92,747)	95,123)	73,600)	67,698)	65,931)

Total assets exhibit a significant upward trajectory, expanding from 65.93 billion in April 2021 to 113.17 billion by June 2026. This growth is characterized by a substantial structural shift in the balance sheet, primarily driven by a sharp increase in long-term assets during the fourth quarter of 2021 and sustained growth in goodwill and property, plant, and equipment through 2026.

Liquidity and Current Asset Trends: Current assets fluctuated between 17.69 billion and 28.71 billion over the analyzed period. Cash and cash equivalents demonstrated high volatility, peaking at 12.03 billion in October 2021 and 9.85 billion in December 2025, with several periods of significant contraction. Accounts receivable showed a consistent long-term increase, rising from 5.55 billion in early 2021 to 9.45 billion by June 2026, suggesting an expansion in credit sales or a lengthening of the collection cycle. Inventories remained relatively stable, fluctuating within a range of 4.34 billion to 5.75 billion, indicating a controlled approach to stock management relative to total asset growth.
Non-Current Asset Expansion: Long-term assets experienced a massive escalation, moving from 48.25 billion in April 2021 to 89.81 billion by June 2026. A pivotal increase occurred between October and December 2021, where long-term assets jumped from 48.88 billion to 75.01 billion. This surge was primarily driven by a spike in goodwill, which rose from 26.91 billion to 41.92 billion, and acquisition-related intangible assets, which increased from 11.93 billion to 20.11 billion in the same window, pointing to a major acquisition event. Property, plant, and equipment grew steadily from 6.13 billion to 10.76 billion, reflecting continuous capital investment in infrastructure.
Intangible Asset and Goodwill Dynamics: Goodwill represents the largest single component of the asset base, growing from 26.82 billion in April 2021 to 54.83 billion by June 2026. This indicates a strategy heavily reliant on inorganic growth. Acquisition-related intangible assets followed a more erratic path; after the initial spike in late 2021, they generally declined until a secondary increase to 19.15 billion in March 2026, suggesting periodic impairment or amortization offset by new acquisitions.
Operational Asset Growth: Contract assets showed a steady upward trend, increasing from 783 million in April 2021 to 1.69 billion by June 2026, mirroring the growth seen in accounts receivable. Other current assets also experienced gradual growth, rising from 1.42 billion to 2.54 billion. These trends collectively indicate a scaling of operational volume and an increase in the complexity of revenue recognition and contract management.

The overall financial profile reveals a transition from a more liquid balance sheet to one heavily weighted toward long-term, intangible assets. While liquidity remains sufficient, the growth in the total asset base is overwhelmingly dominated by goodwill and strategic acquisitions rather than organic growth in cash or short-term liquid instruments.

Thermo Fisher Scientific Inc. (NYSE:TMO)

Balance Sheet: Assets
Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Thermo Fisher Scientific Inc. (NYSE:TMO)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data