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
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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), 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

Revenues
The revenues show a general upward trend from 2005 through 2024, increasing from approximately 2,633 million USD to about 42,879 million USD. There is occasional variability in growth rates, notably a slowdown or slight decline between 2022 and 2023, where revenues decreased from 44,915 million USD to 42,857 million USD, followed by stabilization through 2024. Overall, the long-term trend suggests consistent expansion of the company’s top-line revenue.
Operating Income
Operating income also demonstrates a substantial growth trajectory, starting at 263 million USD in 2005 and reaching a peak of 10,028 million USD in 2021. However, after 2021, a decline is observed with operating income falling to 8,393 million USD in 2022 and further to 6,859 million USD in 2023 before showing a modest recovery to 7,337 million USD in 2024. Despite fluctuations in the most recent years, the overall increase over the long term is significant and reflects improving operational profitability.
Operating Profit Margin
Operating profit margin fluctuates over the years but displays an overall upward movement from about 10% in 2005 to above 25% in 2021. Notably, margins were relatively stable or slightly improving through the early period, reaching a pronounced peak in 2020 and 2021 at around 24% to 25.6%. A downward adjustment follows, with margins dropping to 18.69% in 2022 and then settling between 16% and 17.11% in 2023 and 2024. This suggests that although profitability as a percentage of revenue generally improved over the years, recent market or operational challenges impacted profitability ratios.
Summary of Trends
The data depicts significant growth in revenues and operating income over nearly two decades, indicative of business expansion and efficiency improvements. Operating profit margins increased correspondingly, especially from 2014 onwards, reflecting better cost management or pricing power. Recent declines in both operating income and operating profit margin despite high revenue levels suggest emerging pressures on profitability that may warrant further investigation. Overall, the historical performance underscores robust financial growth with recent signals of margin compression.

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.
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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), 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).