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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- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Enterprise Value to FCFF (EV/FCFF)
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) 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-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 liabilities and stockholders’ equity of the company demonstrate notable fluctuations over the analyzed period, spanning from April 2021 to June 2025. Overall, total liabilities and equity increased from approximately $65.9 billion to $110.3 billion, indicating substantial growth in both financing and operational scale. A detailed examination reveals specific trends within different liability and equity components.
- Current Liabilities
- Current liabilities exhibited significant volatility. Initially around $7 billion, they peaked at $17.0 billion in December 2022 before decreasing to $15.2 billion by June 2025. This fluctuation suggests potential shifts in short-term financing strategies or working capital management. Accounts payable consistently represent the largest portion of current liabilities, ranging from approximately $2.1 billion to $3.6 billion, with a general upward trend over the period. Accrued payroll and employee benefits also contribute significantly, fluctuating between $1.3 billion and $2.0 billion. Contract liabilities remained relatively stable, generally between $2.5 billion and $2.9 billion. Other accrued expenses also showed a consistent contribution, ranging from $1.9 billion to $3.4 billion.
- Long-Term Liabilities
- Long-term liabilities demonstrated a consistent upward trend, increasing from $23.9 billion in April 2021 to $41.6 billion in June 2025. This growth is primarily driven by increases in long-term obligations excluding current maturities, which rose from $18.6 billion to $35.9 billion. Deferred income taxes remained relatively stable, decreasing from $1.9 billion to $1.5 billion. Other long-term liabilities also showed a moderate increase, from $3.4 billion to $4.3 billion.
- Stockholders’ Equity
- Total stockholders’ equity increased from $35.1 billion to $53.4 billion over the period. Retained earnings represent the largest component of equity, growing from $30.4 billion to $59.2 billion, indicating consistent profitability and reinvestment of earnings. Capital in excess of par value also increased, from $15.7 billion to $18.6 billion. Treasury stock consistently represents a significant deduction from equity, increasing in absolute value from -$8.9 billion to -$22.3 billion, suggesting ongoing share repurchase activity. Accumulated other comprehensive loss also increased, from -$2.6 billion to -$2.4 billion, indicating unrealized losses. Redeemable noncontrolling interests remained relatively small, fluctuating between $0 and $129 million.
The significant increase in total liabilities, particularly long-term obligations, coupled with the growth in stockholders’ equity, suggests a strategy of leveraging both debt and equity to fund expansion and operations. The volatility in current liabilities warrants further investigation to understand the underlying drivers and potential risks. The consistent growth in retained earnings is a positive indicator of the company’s financial performance and ability to generate profits.