Return on Assets (ROA)
since 2005
Calculation
Thermo Fisher Scientific Inc., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income attributable to Thermo Fisher Scientific Inc.1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 6.08% | = | 100 | × | 6,704) | ÷ | 110,343) |
| Dec 31, 2024 | 6.51% | = | 100 | × | 6,335) | ÷ | 97,321) |
| Dec 31, 2023 | 6.07% | = | 100 | × | 5,995) | ÷ | 98,726) |
| Dec 31, 2022 | 7.15% | = | 100 | × | 6,950) | ÷ | 97,154) |
| Dec 31, 2021 | 8.12% | = | 100 | × | 7,725) | ÷ | 95,123) |
| Dec 31, 2020 | 9.23% | = | 100 | × | 6,375) | ÷ | 69,052) |
| Dec 31, 2019 | 6.33% | = | 100 | × | 3,696) | ÷ | 58,381) |
| Dec 31, 2018 | 5.22% | = | 100 | × | 2,938) | ÷ | 56,232) |
| Dec 31, 2017 | 3.93% | = | 100 | × | 2,225) | ÷ | 56,669) |
| Dec 31, 2016 | 4.40% | = | 100 | × | 2,022) | ÷ | 45,908) |
| Dec 31, 2015 | 4.83% | = | 100 | × | 1,975) | ÷ | 40,889) |
| Dec 31, 2014 | 4.42% | = | 100 | × | 1,894) | ÷ | 42,852) |
| Dec 31, 2013 | 4.00% | = | 100 | × | 1,273) | ÷ | 31,863) |
| Dec 31, 2012 | 4.29% | = | 100 | × | 1,178) | ÷ | 27,445) |
| Dec 31, 2011 | 4.96% | = | 100 | × | 1,330) | ÷ | 26,834) |
| Dec 31, 2010 | 4.85% | = | 100 | × | 1,036) | ÷ | 21,349) |
| Dec 31, 2009 | 3.93% | = | 100 | × | 850) | ÷ | 21,625) |
| Dec 31, 2008 | 4.71% | = | 100 | × | 994) | ÷ | 21,090) |
| Dec 31, 2007 | 3.59% | = | 100 | × | 761) | ÷ | 21,207) |
| Dec 31, 2006 | 0.79% | = | 100 | × | 169) | ÷ | 21,262) |
| Dec 31, 2005 | 5.25% | = | 100 | × | 223) | ÷ | 4,252) |
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 Return on Assets (ROA) for the period between 2005 and 2025 exhibits considerable fluctuation, though generally demonstrates an upward trajectory over the long term. Initial values show a decline followed by a period of relative stability, culminating in significant increases in recent years.
- Initial Period (2005-2007)
- In 2005, the ROA stood at 5.25%. This was followed by a substantial decrease to 0.79% in 2006, likely influenced by a significant increase in total assets. A considerable recovery occurred in 2007, with the ROA rising to 3.59%, though remaining below the initial 2005 level.
- Period of Stabilization (2008-2011)
- From 2008 through 2011, the ROA demonstrated a period of relative stability, fluctuating between 3.93% and 4.96%. While not exhibiting strong growth, the values remained within a narrow range, suggesting consistent asset utilization. The ROA peaked at 4.96% in 2011.
- Moderate Growth (2012-2015)
- The years 2012 to 2015 saw moderate growth in ROA, moving from 4.29% to 4.83%. This period indicates a gradual improvement in profitability relative to asset base. The ROA reached 4.83% in 2015.
- Accelerated Growth (2016-2020)
- A period of accelerated growth began in 2016, with the ROA increasing from 4.40% to 9.23% in 2020. This substantial increase suggests improved efficiency in generating profits from assets, potentially driven by strategic acquisitions or operational improvements. The ROA peaked at 9.23% in 2020.
- Recent Performance (2021-2025)
- Following the peak in 2020, the ROA experienced a slight decline to 8.12% in 2021 and 7.15% in 2022. However, it stabilized and showed a slight increase in the final years of the observed period, reaching 6.51% in 2024 and 6.08% in 2025. While lower than the 2020 peak, these values remain comparatively high when viewed against the earlier years of the period.
Overall, the ROA demonstrates a positive long-term trend, with a particularly strong performance in the latter half of the analyzed period. The fluctuations suggest sensitivity to changes in net income and total asset levels, warranting further investigation into the underlying drivers of these changes.
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Comparison to Competitors
Thermo Fisher Scientific Inc., ROA, long-term trends, comparison to competitors
| Thermo Fisher Scientific Inc. | AbbVie Inc. | Amgen Inc. | Bristol-Myers Squibb Co. | Danaher Corp. | Eli Lilly & Co. | Gilead Sciences Inc. | Johnson & Johnson | Merck & Co. Inc. | Pfizer Inc. | Regeneron Pharmaceuticals Inc. | Vertex Pharmaceuticals Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 6.08% | 3.15% | 8.51% | 7.83% | 4.33% | 18.35% | 14.42% | 13.46% | 13.34% | 3.73% | 11.11% | 15.42% |
| Dec 31, 2024 | 6.51% | 3.17% | 4.45% | -9.66% | 5.03% | 13.45% | 0.81% | 7.81% | 14.62% | 3.76% | 11.69% | -2.38% |
| Dec 31, 2023 | 6.07% | 3.61% | 6.91% | 8.43% | 5.64% | 8.19% | 9.12% | 20.98% | 0.34% | 0.94% | 11.95% | 15.92% |
| Dec 31, 2022 | 7.15% | 8.53% | 10.06% | 6.53% | 8.55% | 12.62% | 7.27% | 9.57% | 13.30% | 15.91% | 14.85% | 18.30% |
| Dec 31, 2021 | 8.12% | 7.88% | 9.63% | 6.40% | 7.73% | 11.44% | 9.16% | 11.47% | 12.35% | 12.11% | 31.75% | 17.44% |
| Dec 31, 2020 | 9.23% | 3.07% | 11.54% | -7.61% | 4.79% | 13.28% | 0.18% | 8.41% | 7.72% | 6.23% | 20.47% | 23.07% |
| Dec 31, 2019 | 6.33% | 8.84% | 13.13% | 2.65% | 4.85% | 21.17% | 8.74% | 9.59% | 11.66% | 9.72% | 14.29% | 14.15% |
| Dec 31, 2018 | 5.22% | 9.58% | 12.64% | 14.06% | 5.54% | 7.36% | 8.57% | 10.00% | 7.53% | 7.00% | 20.83% | 33.57% |
| Dec 31, 2017 | 3.93% | 7.50% | 2.48% | 3.00% | 5.34% | -0.45% | 6.58% | 0.83% | 2.72% | 12.40% | 13.67% | 7.43% |
| Dec 31, 2016 | 4.40% | 9.01% | 9.95% | 13.22% | 5.64% | 7.05% | 23.70% | 11.71% | 4.11% | 4.20% | 12.84% | -3.87% |
| Dec 31, 2015 | 4.83% | 9.70% | 9.69% | 4.93% | 6.96% | 6.77% | 34.93% | 11.55% | 4.36% | 4.16% | 11.34% | -22.26% |
| Dec 31, 2014 | 4.42% | 6.44% | 7.47% | 5.94% | 7.02% | 6.43% | 34.91% | 12.45% | 12.12% | 5.40% | 8.99% | -31.63% |
| Dec 31, 2013 | 4.00% | 14.14% | 7.68% | 6.64% | 7.77% | 13.29% | 13.67% | 10.42% | 4.17% | 12.78% | 14.38% | -19.19% |
| Dec 31, 2012 | 4.29% | 19.53% | 8.00% | 5.46% | 7.26% | 11.89% | 12.20% | 8.94% | 5.81% | 7.84% | 36.06% | -3.88% |
| Dec 31, 2011 | 4.96% | — | 7.54% | 11.25% | 7.25% | 12.92% | 16.20% | 8.51% | 5.97% | 5.32% | -16.75% | 1.34% |
| Dec 31, 2010 | 4.85% | — | 10.64% | 9.98% | 8.07% | 16.35% | 25.03% | 12.96% | 0.81% | 4.23% | -9.59% | -43.74% |
| Dec 31, 2009 | 3.93% | — | 11.62% | 34.22% | 5.88% | 15.76% | 27.18% | 12.95% | 11.51% | 4.05% | -9.15% | -32.84% |
| Dec 31, 2008 | 4.71% | — | 11.51% | 17.76% | 7.53% | -7.09% | 28.65% | 15.25% | 16.54% | 7.29% | -12.34% | -46.90% |
| Dec 31, 2007 | 3.59% | — | 9.14% | 8.27% | 7.84% | 11.02% | 27.68% | 13.06% | 6.77% | 7.07% | -11.28% | -65.05% |
| Dec 31, 2006 | 0.79% | — | 8.73% | 6.20% | 8.72% | 12.13% | -29.12% | 15.67% | 9.95% | 16.84% | -17.49% | -22.45% |
| Dec 31, 2005 | 5.25% | — | 12.54% | 10.66% | 9.80% | 8.05% | 21.62% | 17.94% | 10.33% | 6.88% | -22.54% | -37.05% |
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).
Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)
Thermo Fisher Scientific Inc., ROA, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Thermo Fisher Scientific Inc. | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Dec 31, 2025 | 6.08% | 9.28% |
| Dec 31, 2024 | 6.51% | 5.30% |
| Dec 31, 2023 | 6.07% | 7.25% |
| Dec 31, 2022 | 7.15% | 10.67% |
| Dec 31, 2021 | 8.12% | 10.42% |
| Dec 31, 2020 | 9.23% | 5.45% |
| Dec 31, 2019 | 6.33% | 9.02% |
| Dec 31, 2018 | 5.22% | 8.97% |
| Dec 31, 2017 | 3.93% | 5.28% |
| Dec 31, 2016 | 4.40% | 8.61% |
| Dec 31, 2015 | 4.83% | 8.93% |
| Dec 31, 2014 | 4.42% | 9.45% |
| Dec 31, 2013 | 4.00% | 9.46% |
| Dec 31, 2012 | 4.29% | 8.30% |
| Dec 31, 2011 | 4.96% | 7.30% |
| Dec 31, 2010 | 4.85% | 7.07% |
| Dec 31, 2009 | 3.93% | 10.02% |
| Dec 31, 2008 | 4.71% | 10.37% |
| Dec 31, 2007 | 3.59% | 8.86% |
| Dec 31, 2006 | 0.79% | 11.91% |
| Dec 31, 2005 | 5.25% | 10.42% |
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).
Comparison to Industry (Health Care)
Thermo Fisher Scientific Inc., ROA, long-term trends, comparison to industry (health care)
| Thermo Fisher Scientific Inc. | Health Care | |
|---|---|---|
| Dec 31, 2025 | 6.08% | 7.89% |
| Dec 31, 2024 | 6.51% | 5.73% |
| Dec 31, 2023 | 6.07% | 7.19% |
| Dec 31, 2022 | 7.15% | 9.66% |
| Dec 31, 2021 | 8.12% | 9.46% |
| Dec 31, 2020 | 9.23% | 5.81% |
| Dec 31, 2019 | 6.33% | 8.32% |
| Dec 31, 2018 | 5.22% | 7.90% |
| Dec 31, 2017 | 3.93% | 5.19% |
| Dec 31, 2016 | 4.40% | 7.31% |
| Dec 31, 2015 | 4.83% | 7.71% |
| Dec 31, 2014 | 4.42% | 8.59% |
| Dec 31, 2013 | 4.00% | 8.76% |
| Dec 31, 2012 | 4.29% | 8.09% |
| Dec 31, 2011 | 4.96% | 7.36% |
| Dec 31, 2010 | 4.85% | 7.24% |
| Dec 31, 2009 | 3.93% | 9.73% |
| Dec 31, 2008 | 4.71% | 9.50% |
| Dec 31, 2007 | 3.59% | 8.88% |
| Dec 31, 2006 | 0.79% | 10.52% |
| Dec 31, 2005 | 5.25% | 9.67% |
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).