Balance Sheet: Liabilities and Stockholders’ Equity
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.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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- Statement of Comprehensive Income
- Analysis of Solvency Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
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Thermo Fisher Scientific Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-06-27), 10-Q (reporting date: 2026-03-28), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03).
The balance sheet reflects a significant expansion in total capital employed over the analyzed period, with total liabilities, redeemable noncontrolling interests, and equity increasing from 65.9 billion USD in April 2021 to 113.2 billion USD by June 2026. This growth is characterized by a concurrent increase in both long-term debt obligations and total shareholders' equity.
- Liability Structure and Debt Trends
- Total liabilities exhibited a strong upward trajectory, growing from 30.9 billion USD to 60.4 billion USD. A primary driver of this increase was the expansion of long-term obligations, excluding current maturities, which rose from 18.6 billion USD in April 2021 to a peak of 40.1 billion USD in March 2026. A notable surge occurred between October 2021 and December 2021, where long-term obligations increased by approximately 10.6 billion USD in a single quarter. Current liabilities showed more volatility, peaking at 17.0 billion USD in December 2022, driven largely by a spike in short-term obligations and current maturities of long-term debt, which reached 5.6 billion USD during that period.
- Equity and Retained Earnings
- Total equity demonstrated consistent growth, rising from 35.1 billion USD to 52.7 billion USD. This growth was primarily fueled by a steady accumulation of retained earnings, which more than doubled from 30.4 billion USD in April 2021 to 62.2 billion USD by June 2026. The continuous increase in retained earnings suggests strong internal capital generation and profitability over the period.
- Share Repurchase Activity
- A substantial increase in treasury stock at cost is observed, moving from a negative 8.9 billion USD in April 2021 to a negative 26.4 billion USD by June 2026. This trend indicates an aggressive and sustained share buyback program, which has acted as a significant offset to the growth in total shareholders' equity that would have otherwise resulted from the increase in retained earnings.
- Operational Liabilities
- Operational current liabilities, including accounts payable, accrued payroll, and contract liabilities, remained relatively stable with moderate growth. Accounts payable increased from 2.1 billion USD to 3.3 billion USD, while contract liabilities rose from 1.4 billion USD to 2.9 billion USD. Other accrued expenses also trended upward, ending at 3.8 billion USD in June 2026, reflecting an increase in the scale of ongoing operations.
- Other Comprehensive Loss and Noncontrolling Interests
- Accumulated other comprehensive loss remained negative throughout the period, fluctuating between 2.3 billion USD and 3.2 billion USD, indicating periodic unrealized losses. Noncontrolling interests remained a marginal component of the total capital structure, shifting from positive values to slightly negative figures before stabilizing near 7 million USD by the end of the period.