Stock Analysis on Net
Stock Analysis on Net

Thermo Fisher Scientific Inc. (NYSE:TMO)

$24.99

Operating Profit Margin
since 2005

Microsoft Excel

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Calculation

Thermo Fisher Scientific Inc., operating profit margin, long-term trends, calculation

Microsoft Excel
Operating profit margin = 100 × Operating income1 ÷ Revenues1
Dec 31, 2025 = 100 × ÷
Dec 31, 2024 = 100 × ÷
Dec 31, 2023 = 100 × ÷
Dec 31, 2022 = 100 × ÷
Dec 31, 2021 = 100 × ÷
Dec 31, 2020 = 100 × ÷
Dec 31, 2019 = 100 × ÷
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Dec 31, 2014 = 100 × ÷
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Dec 31, 2012 = 100 × ÷
Dec 31, 2011 = 100 × ÷
Dec 31, 2010 = 100 × ÷
Dec 31, 2009 = 100 × ÷
Dec 31, 2008 = 100 × ÷
Dec 31, 2007 = 100 × ÷
Dec 31, 2006 = 100 × ÷
Dec 31, 2005 = 100 × ÷

Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in millions

The operating profit margin exhibited considerable fluctuation between 2005 and 2025. Initially, the margin stood at 10.01% in 2005, decreased to 6.38% in 2006, and then experienced a substantial increase to 10.00% in 2007. A period of relative stability followed, with the margin fluctuating between approximately 10% and 12% from 2007 through 2012. From 2013 onwards, a clear upward trend is discernible, accelerating significantly in the latter half of the period.

Initial Period (2005-2007)
The initial period demonstrates volatility. The decline in 2006 suggests potential challenges in maintaining profitability alongside revenue growth. The subsequent recovery in 2007 indicates successful mitigation of these challenges or a shift in business dynamics.
Period of Stability (2007-2012)
Between 2007 and 2012, the operating profit margin remained relatively consistent, fluctuating within a narrow range. This suggests a stable operating environment and effective cost management during this timeframe. Revenue growth occurred during this period, but profitability remained largely unchanged.
Accelerated Growth (2013-2025)
From 2013, the operating profit margin began a sustained upward trajectory. The margin increased from 12.30% in 2013 to a peak of 25.57% in 2021. This indicates improving operational efficiency, potentially driven by economies of scale, pricing power, or a favorable product mix. A decrease to 18.69% was observed in 2022, followed by 16.00% in 2023 and a slight recovery to 17.11% in 2024, and 17.38% in 2025. While the margin decreased from its peak, it remained significantly higher than levels observed prior to 2013.

The substantial increase in operating profit margin, particularly between 2013 and 2021, is noteworthy. The recent moderation from the 2021 peak warrants further investigation to determine the underlying causes and assess the sustainability of future profitability. Overall, the trend suggests a strengthening of the company’s operational performance over the analyzed period.

Comparison to Competitors

Thermo Fisher Scientific Inc., operating profit margin, long-term trends, comparison to competitors

Microsoft Excel
Thermo Fisher Scientific Inc. AbbVie Inc. Amgen Inc. Danaher Corp. Gilead Sciences Inc. Regeneron Pharmaceuticals Inc. Vertex Pharmaceuticals Inc.
Dec 31, 2025
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Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).