Stock Analysis on Net
Stock Analysis on Net

Thermo Fisher Scientific Inc. (NYSE:TMO)

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Beginner level

Long-term Activity Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 31, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 31, 2018 Sep 29, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Oct 1, 2016 Jul 2, 2016 Apr 2, 2016
Net fixed asset turnover 5.45 5.50 5.37 5.42 5.38 5.71 5.66 5.88 5.85 6.01 5.84 5.42 5.17 5.04 7.39 7.31 7.09
Total asset turnover 0.47 0.44 0.43 0.44 0.44 0.44 0.43 0.44 0.43 0.43 0.42 0.39 0.37 0.35 0.41 0.41 0.40
Equity turnover 0.93 0.90 0.88 0.90 0.86 0.86 0.87 0.89 0.88 0.89 0.87 0.84 0.82 0.80 0.86 0.86 0.85

Based on: 10-K (filing date: 2021-02-25), 10-Q (filing date: 2020-10-30), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-26), 10-Q (filing date: 2019-11-01), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-27), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-11-04), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06).

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.’s net fixed asset turnover ratio improved from Q2 2020 to Q3 2020 but then slightly deteriorated from Q3 2020 to Q4 2020.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Thermo Fisher Scientific Inc.’s total asset turnover ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Thermo Fisher Scientific Inc.’s equity turnover ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Net Fixed Asset Turnover

Thermo Fisher Scientific Inc., net fixed asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 31, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 31, 2018 Sep 29, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Oct 1, 2016 Jul 2, 2016 Apr 2, 2016
Selected Financial Data (US$ in millions)
Revenues 10,550  8,521  6,917  6,230  6,829  6,272  6,316  6,125  6,507  5,920  6,078  5,853  6,047  5,116  4,990  4,765  4,953  4,491  4,535  4,295 
Property, plant and equipment, net 5,912  5,180  4,887  4,736  4,749  4,420  4,394  4,192  4,165  3,978  3,952  4,059  4,047  3,932  2,600  2,563  2,578  2,599  2,452  2,483 
Long-term Activity Ratio
Net fixed asset turnover1 5.45 5.50 5.37 5.42 5.38 5.71 5.66 5.88 5.85 6.01 5.84 5.42 5.17 5.04 7.39 7.31 7.09
Benchmarks
Net Fixed Asset Turnover, Competitors2
Becton, Dickinson & Co. 2.89 2.90 3.07 3.00 3.06 3.08 3.11 3.18 2.97 2.77 2.50 2.33 2.61 2.76 3.13 3.25 3.20 3.23 3.24 2.83
Boston Scientific Corp. 4.76 4.90 4.89 5.14 5.16 5.35 5.54 5.58 5.51 5.59 5.54 5.45 5.33 5.26 5.28 5.19 5.14
Danaher Corp. 6.83 6.68 6.35 6.03 7.78 7.31 7.43 7.75 7.92 7.97 7.74 7.60 7.47 7.35 7.20 7.13 7.17
Edwards Lifesciences Corp. 3.14 3.42 3.61 4.07 4.10 4.26 4.26 4.28 4.29 4.40 4.61 4.84 5.05 5.10 5.15 5.35 5.11
Intuitive Surgical Inc. 2.76 2.85 3.00 3.36 3.52 3.74 3.91 4.12 4.59 4.78 5.02 4.99 5.10 5.12 5.31 5.60 5.90
Medtronic PLC 5.99 6.52 6.50 6.51 6.54 6.65 6.70 6.62 6.51 6.58 6.67 6.82 6.81 5.94 5.93 5.97 5.96 6.16 5.55 4.98
Stryker Corp. 5.21 5.62 5.57 5.74 5.80 5.91 5.95 6.04 5.94 6.10 6.21 6.20 6.30 6.55 6.80 7.12 7.22
UnitedHealth Group Inc. 29.64 30.80 30.30 29.91 27.60 27.98 26.97 27.93 26.59 27.18 26.87 25.36 28.54 29.82 30.31 29.73 31.18

Based on: 10-K (filing date: 2021-02-25), 10-Q (filing date: 2020-10-30), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-26), 10-Q (filing date: 2019-11-01), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-27), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-11-04), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06).

1 Q4 2020 Calculation
Net fixed asset turnover = (RevenuesQ4 2020 + RevenuesQ3 2020 + RevenuesQ2 2020 + RevenuesQ1 2020) ÷ Property, plant and equipment, net
= (10,550 + 8,521 + 6,917 + 6,230) ÷ 5,912 = 5.45

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.’s net fixed asset turnover ratio improved from Q2 2020 to Q3 2020 but then slightly deteriorated from Q3 2020 to Q4 2020.

Total Asset Turnover

Thermo Fisher Scientific Inc., total asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 31, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 31, 2018 Sep 29, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Oct 1, 2016 Jul 2, 2016 Apr 2, 2016
Selected Financial Data (US$ in millions)
Revenues 10,550  8,521  6,917  6,230  6,829  6,272  6,316  6,125  6,507  5,920  6,078  5,853  6,047  5,116  4,990  4,765  4,953  4,491  4,535  4,295 
Total assets 69,052  64,061  61,593  58,688  58,381  56,729  57,970  55,596  56,232  55,078  55,403  56,580  56,669  55,985  46,514  46,214  45,908  48,011  42,253  42,953 
Long-term Activity Ratio
Total asset turnover1 0.47 0.44 0.43 0.44 0.44 0.44 0.43 0.44 0.43 0.43 0.42 0.39 0.37 0.35 0.41 0.41 0.40
Benchmarks
Total Asset Turnover, Competitors2
Becton, Dickinson & Co. 0.32 0.31 0.33 0.33 0.33 0.33 0.32 0.32 0.30 0.27 0.25 0.22 0.32 0.33 0.51 0.51 0.49 0.47 0.47 0.43
Boston Scientific Corp. 0.32 0.33 0.33 0.36 0.35 0.39 0.41 0.42 0.47 0.47 0.48 0.48 0.48 0.47 0.47 0.48 0.46
Danaher Corp. 0.29 0.28 0.27 0.26 0.29 0.30 0.35 0.38 0.42 0.41 0.40 0.40 0.39 0.39 0.38 0.38 0.37
Edwards Lifesciences Corp. 0.61 0.64 0.67 0.74 0.67 0.70 0.71 0.70 0.70 0.61 0.62 0.59 0.60 0.60 0.63 0.66 0.66
Intuitive Surgical Inc. 0.39 0.41 0.43 0.47 0.46 0.47 0.47 0.47 0.47 0.49 0.50 0.51 0.54 0.53 0.55 0.58 0.42
Medtronic PLC 0.32 0.33 0.34 0.34 0.34 0.34 0.34 0.33 0.33 0.31 0.31 0.30 0.30 0.30 0.29 0.29 0.29 0.28 0.25 0.22
Stryker Corp. 0.42 0.44 0.45 0.51 0.49 0.55 0.54 0.53 0.50 0.60 0.60 0.58 0.56 0.56 0.56 0.57 0.55
UnitedHealth Group Inc. 1.30 1.31 1.28 1.29 1.38 1.37 1.40 1.43 1.48 1.45 1.37 1.33 1.44 1.39 1.39 1.37 1.50

Based on: 10-K (filing date: 2021-02-25), 10-Q (filing date: 2020-10-30), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-26), 10-Q (filing date: 2019-11-01), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-27), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-11-04), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06).

1 Q4 2020 Calculation
Total asset turnover = (RevenuesQ4 2020 + RevenuesQ3 2020 + RevenuesQ2 2020 + RevenuesQ1 2020) ÷ Total assets
= (10,550 + 8,521 + 6,917 + 6,230) ÷ 69,052 = 0.47

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.’s total asset turnover ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.

Equity Turnover

Thermo Fisher Scientific Inc., equity turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 31, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 31, 2018 Sep 29, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Oct 1, 2016 Jul 2, 2016 Apr 2, 2016
Selected Financial Data (US$ in millions)
Revenues 10,550  8,521  6,917  6,230  6,829  6,272  6,316  6,125  6,507  5,920  6,078  5,853  6,047  5,116  4,990  4,765  4,953  4,491  4,535  4,295 
Shareholders’ equity 34,507  31,824  29,875  28,559  29,675  29,355  28,729  27,693  27,586  26,890  26,445  26,123  25,413  24,702  22,392  21,795  21,539  21,659  21,264  20,924 
Long-term Activity Ratio
Equity turnover1 0.93 0.90 0.88 0.90 0.86 0.86 0.87 0.89 0.88 0.89 0.87 0.84 0.82 0.80 0.86 0.86 0.85
Benchmarks
Equity Turnover, Competitors2
Becton, Dickinson & Co. 0.72 0.70 0.83 0.82 0.82 0.80 0.80 0.80 0.76 0.69 0.64 0.58 0.93 0.97 1.55 1.64 1.64 1.53 1.60 1.55
Boston Scientific Corp. 0.65 0.65 0.65 0.78 0.77 1.07 1.07 1.08 1.13 1.17 1.23 1.32 1.29 1.16 1.20 1.22 1.25
Danaher Corp. 0.56 0.54 0.52 0.58 0.59 0.57 0.59 0.62 0.71 0.71 0.71 0.69 0.70 0.70 0.71 0.72 0.73
Edwards Lifesciences Corp. 0.96 1.04 1.13 1.15 1.05 1.09 1.13 1.11 1.19 1.08 1.12 1.06 1.16 1.05 1.10 1.15 1.13
Intuitive Surgical Inc. 0.45 0.47 0.50 0.54 0.54 0.55 0.56 0.55 0.56 0.57 0.59 0.60 0.66 0.60 0.63 0.67 0.47
Medtronic PLC 0.57 0.60 0.61 0.61 0.61 0.61 0.61 0.60 0.59 0.59 0.58 0.59 0.59 0.59 0.58 0.57 0.55 0.56 0.50 0.44
Stryker Corp. 1.10 1.10 1.10 1.14 1.16 1.18 1.19 1.19 1.16 1.35 1.38 1.38 1.25 1.16 1.19 1.21 1.19
UnitedHealth Group Inc. 3.90 3.85 3.87 4.29 4.17 4.33 4.41 4.44 4.35 4.37 4.40 4.34 4.19 4.32 4.44 4.49 4.81

Based on: 10-K (filing date: 2021-02-25), 10-Q (filing date: 2020-10-30), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-26), 10-Q (filing date: 2019-11-01), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-27), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-03), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-11-04), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06).

1 Q4 2020 Calculation
Equity turnover = (RevenuesQ4 2020 + RevenuesQ3 2020 + RevenuesQ2 2020 + RevenuesQ1 2020) ÷ Shareholders’ equity
= (10,550 + 8,521 + 6,917 + 6,230) ÷ 34,507 = 0.93

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.’s equity turnover ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.