Stock Analysis on Net

Thermo Fisher Scientific Inc. (NYSE:TMO)

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Analysis of Long-term (Investment) Activity Ratios

Microsoft Excel

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Long-term Activity Ratios (Summary)

Thermo Fisher Scientific Inc., long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net fixed asset turnover
Net fixed asset turnover (including operating lease, right-of-use asset)
Total asset turnover
Equity turnover

Based on: 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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Thermo Fisher Scientific Inc. net fixed asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Thermo Fisher Scientific Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Thermo Fisher Scientific Inc. total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Thermo Fisher Scientific Inc. equity turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Net Fixed Asset Turnover

Thermo Fisher Scientific Inc., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Revenues
Property, plant and equipment, net
Long-term Activity Ratio
Net fixed asset turnover1
Benchmarks
Net Fixed Asset Turnover, Competitors2
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Johnson & Johnson
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Net Fixed Asset Turnover, Sector
Pharmaceuticals, Biotechnology & Life Sciences
Net Fixed Asset Turnover, Industry
Health Care

Based on: 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).

1 2023 Calculation
Net fixed asset turnover = Revenues ÷ Property, plant and equipment, net
= ÷ =

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Thermo Fisher Scientific Inc. net fixed asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Thermo Fisher Scientific Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Revenues
 
Property, plant and equipment, net
Operating lease ROU assets (included in Other assets)
Property, plant and equipment, net (including operating lease, right-of-use asset)
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Johnson & Johnson
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Pharmaceuticals, Biotechnology & Life Sciences
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Health Care

Based on: 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).

1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= ÷ =

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Thermo Fisher Scientific Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Total Asset Turnover

Thermo Fisher Scientific Inc., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Revenues
Total assets
Long-term Activity Ratio
Total asset turnover1
Benchmarks
Total Asset Turnover, Competitors2
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Johnson & Johnson
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Total Asset Turnover, Sector
Pharmaceuticals, Biotechnology & Life Sciences
Total Asset Turnover, Industry
Health Care

Based on: 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).

1 2023 Calculation
Total asset turnover = Revenues ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Thermo Fisher Scientific Inc. total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Equity Turnover

Thermo Fisher Scientific Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Revenues
Total Thermo Fisher Scientific Inc. shareholders’ equity
Long-term Activity Ratio
Equity turnover1
Benchmarks
Equity Turnover, Competitors2
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Johnson & Johnson
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Equity Turnover, Sector
Pharmaceuticals, Biotechnology & Life Sciences
Equity Turnover, Industry
Health Care

Based on: 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).

1 2023 Calculation
Equity turnover = Revenues ÷ Total Thermo Fisher Scientific Inc. shareholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Thermo Fisher Scientific Inc. equity turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.