Stock Analysis on Net
Stock Analysis on Net

Thermo Fisher Scientific Inc. (NYSE:TMO)

Analysis of Profitability Ratios
Quarterly Data

Beginner level

Profitability Ratios (Summary)

Thermo Fisher Scientific Inc., profitability ratios (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015
Return on Sales
Gross profit margin 47.31% 45.39% 44.30% 44.35% 44.48% 44.51% 44.60% 44.57% 44.36% 44.55% 44.68% 45.15% 45.67% 45.88% 45.90% 45.80% 45.62% 45.60% 45.51% 45.72%
Operating profit margin 20.90% 17.05% 17.86% 17.99% 17.88% 18.00% 15.90% 15.53% 15.03% 14.36% 14.23% 14.19% 13.94% 13.89% 13.62% 13.40% 13.28% 13.68% 13.65% 13.77%
Net profit margin 17.12% 14.12% 14.31% 14.47% 14.24% 14.24% 12.89% 12.06% 10.75% 10.36% 10.24% 10.64% 11.74% 11.80% 11.58% 11.06% 11.10% 11.35% 11.49% 11.64%
Return on Investment
Return on equity (ROE) 15.33% 12.41% 12.85% 12.45% 12.24% 12.33% 11.46% 10.65% 9.55% 9.05% 8.62% 8.76% 9.42% 10.12% 9.96% 9.39% 9.21% 9.39% 9.52% 9.25%
Return on assets (ROA) 7.62% 6.02% 6.25% 6.33% 6.33% 6.11% 5.71% 5.22% 4.66% 4.32% 3.98% 3.93% 4.16% 4.87% 4.70% 4.40% 4.16% 4.73% 4.64% 4.83%

Based on: 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), 10-K (filing date: 2016-02-25), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Thermo Fisher Scientific Inc.’s gross profit margin ratio improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Thermo Fisher Scientific Inc.’s operating profit margin ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Thermo Fisher Scientific Inc.’s net profit margin ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Thermo Fisher Scientific Inc.’s ROE deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
ROA A profitability ratio calculated as net income divided by total assets. Thermo Fisher Scientific Inc.’s ROA deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Gross Profit Margin

Thermo Fisher Scientific Inc., gross profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015
Selected Financial Data (US$ in millions)
Gross profit 4,331  3,377  2,740  3,035  2,763  2,823  2,707  2,924  2,615  2,738  2,580  2,669  2,300  2,283  2,193  2,279  2,054  2,079  1,958  2,108  1,883  1,942  1,823 
Revenues 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  4,653  4,123  4,271  3,919 
Profitability Ratio
Gross profit margin1 47.31% 45.39% 44.30% 44.35% 44.48% 44.51% 44.60% 44.57% 44.36% 44.55% 44.68% 45.15% 45.67% 45.88% 45.90% 45.80% 45.62% 45.60% 45.51% 45.72%
Benchmarks
Gross Profit Margin, Competitors2
Becton, Dickinson & Co. 45.15% 46.24% 47.78% 47.94% 47.42% 47.28% 45.04% 45.44% 45.60% 46.00% 49.30% 49.14% 48.86% 48.57% 48.59% 47.99% 47.66% 44.92% 45.09% 45.66%
Boston Scientific Corp. 67.20% 68.26% 70.41% 70.98% 71.20% 71.33% 71.12% 71.37% 71.48% 71.35% 71.78% 71.34% 71.27% 71.38% 70.86% 71.09% 70.88% 70.78% 70.99% 70.94%
Danaher Corp. 55.04% 55.28% 55.85% 55.74% 55.61% 55.53% 55.71% 55.83% 56.03% 56.18% 55.80% 55.61% 55.27% 55.09% 55.36% 55.29% 54.16% 53.47% 52.86% 52.34%
Edwards Lifesciences Corp. 75.50% 74.97% 74.40% 74.37% 74.40% 74.89% 75.46% 74.77% 74.13% 73.84% 74.08% 74.52% 74.26% 73.97% 73.56% 73.09% 73.49% 74.29% 74.56% 75.25%
Intuitive Surgical Inc. 66.44% 67.07% 69.04% 69.45% 69.45% 69.47% 69.60% 69.92% 70.07% 70.22% 70.31% 70.12% 69.75% 69.97% 70.08% 69.89% 69.42% 68.38% 67.28% 66.18%
Medtronic PLC 68.96% 69.22% 69.62% 70.04% 70.33% 70.40% 70.25% 69.77% 69.40% 69.05% 68.67% 68.73% 68.60% 68.66% 68.85% 68.29% 66.00% 66.48% 67.07% 68.86%
Stryker Corp. 63.59% 63.34% 65.15% 65.14% 64.95% 65.29% 65.47% 65.72% 65.69% 65.55% 65.58% 65.68% 66.12% 66.16% 65.87% 66.18% 66.42% 66.67% 67.01% 66.38%
UnitedHealth Group Inc. 25.83% 25.95% 23.52% 23.19% 22.92% 22.89% 23.15% 23.33% 23.36% 23.33% 23.28% 22.98% 23.09% 23.12% 22.99% 23.13% 22.35% 22.20% 22.73% 23.22%

Based on: 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), 10-K (filing date: 2016-02-25), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Q3 2020 Calculation
Gross profit margin = 100 × (Gross profitQ3 2020 + Gross profitQ2 2020 + Gross profitQ1 2020 + Gross profitQ4 2019) ÷ (RevenuesQ3 2020 + RevenuesQ2 2020 + RevenuesQ1 2020 + RevenuesQ4 2019)
= 100 × (4,331 + 3,377 + 2,740 + 3,035) ÷ (8,521 + 6,917 + 6,230 + 6,829) = 47.31%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Thermo Fisher Scientific Inc.’s gross profit margin ratio improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Operating Profit Margin

Thermo Fisher Scientific Inc., operating profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015
Selected Financial Data (US$ in millions)
Operating income 2,426  1,391  906  1,232  946  1,496  920  1,148  912  937  786  958  636  752  622  753  541  638  518  690  563  596  487 
Revenues 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  4,653  4,123  4,271  3,919 
Profitability Ratio
Operating profit margin1 20.90% 17.05% 17.86% 17.99% 17.88% 18.00% 15.90% 15.53% 15.03% 14.36% 14.23% 14.19% 13.94% 13.89% 13.62% 13.40% 13.28% 13.68% 13.65% 13.77%
Benchmarks
Operating Profit Margin, Competitors2
Becton, Dickinson & Co. 7.91% 9.23% 7.91% 10.18% 12.98% 12.37% 12.63% 9.37% 9.29% 4.69% 7.32% 12.22% 9.29% 15.17% 15.21% 11.46% 13.23% 10.22% 9.60% 10.45%
Boston Scientific Corp. 0.79% 6.58% 10.41% 14.14% 15.66% 16.19% 16.50% 15.33% 15.57% 15.74% 14.33% 14.20% 12.53% 12.36% 6.04% 5.33% 0.44% -7.68% -0.76% -4.37%
Danaher Corp. 17.61% 17.37% 18.01% 18.25% 17.77% 17.61% 17.41% 17.11% 17.27% 17.23% 16.69% 16.48% 15.73% 15.69% 16.09% 16.29% 16.51% 16.27% 16.81% 16.87%
Edwards Lifesciences Corp. 19.62% 18.36% 27.45% 26.38% 20.01% 19.81% 20.15% 20.10% 30.15% 29.89% 30.46% 31.89% 28.80% 28.75% 27.30% 25.35% 25.16% 25.01% 25.39% 25.49%
Intuitive Surgical Inc. 23.95% 25.86% 30.52% 30.69% 30.82% 31.10% 30.51% 32.21% 33.46% 33.56% 34.52% 33.71% 33.14% 33.79% 34.40% 34.95% 35.32% 33.99% 32.23% 31.04%
Medtronic PLC 20.67% 20.47% 21.25% 20.51% 20.48% 20.22% 21.70% 22.20% 21.35% 20.47% 18.55% 17.94% 17.72% 18.65% 18.54% 18.35% 14.56% 15.72% 16.37% 18.59%
Stryker Corp. 17.00% 15.54% 18.86% 18.23% 16.96% 17.00% 17.83% 18.65% 19.22% 19.16% 18.28% 18.40% 18.46% 18.42% 18.68% 19.13% 19.78% 19.53% 19.62% 18.71%
UnitedHealth Group Inc. 9.55% 9.89% 8.12% 8.19% 8.02% 7.97% 7.88% 7.71% 7.70% 7.68% 7.67% 7.60% 7.37% 7.26% 7.11% 7.03% 6.78% 6.64% 6.87% 7.05%

Based on: 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), 10-K (filing date: 2016-02-25), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Q3 2020 Calculation
Operating profit margin = 100 × (Operating incomeQ3 2020 + Operating incomeQ2 2020 + Operating incomeQ1 2020 + Operating incomeQ4 2019) ÷ (RevenuesQ3 2020 + RevenuesQ2 2020 + RevenuesQ1 2020 + RevenuesQ4 2019)
= 100 × (2,426 + 1,391 + 906 + 1,232) ÷ (8,521 + 6,917 + 6,230 + 6,829) = 20.90%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Thermo Fisher Scientific Inc.’s operating profit margin ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Net Profit Margin

Thermo Fisher Scientific Inc., net profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015
Selected Financial Data (US$ in millions)
Net income 1,933  1,156  788  1,002  760  1,119  815  898  709  752  579  528  534  612  551  630  474  517  402  603  476  512  385 
Revenues 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  4,653  4,123  4,271  3,919 
Profitability Ratio
Net profit margin1 17.12% 14.12% 14.31% 14.47% 14.24% 14.24% 12.89% 12.06% 10.75% 10.36% 10.24% 10.64% 11.74% 11.80% 11.58% 11.06% 11.10% 11.35% 11.49% 11.64%
Benchmarks
Net Profit Margin, Competitors2
Becton, Dickinson & Co. 5.38% 6.17% 5.25% 7.13% 5.47% 6.33% 6.13% 1.95% 5.23% 0.34% 3.28% 9.10% 6.52% 10.67% 10.54% 7.82% 9.24% 6.62% 6.13% 6.76%
Boston Scientific Corp. 36.65% 39.24% 39.75% 43.78% 10.49% 13.85% 18.08% 17.01% 6.93% 5.48% 1.21% 1.15% 9.55% 9.04% 5.07% 4.14% 0.99% -4.34% -0.47% -3.20%
Danaher Corp. 18.05% 18.35% 18.13% 16.80% 13.47% 13.11% 12.45% 13.33% 14.07% 13.84% 13.56% 13.60% 13.36% 12.63% 13.41% 15.13% 13.72% 18.39% 17.92% 16.33%
Edwards Lifesciences Corp. 18.18% 17.21% 24.71% 24.08% 18.64% 18.29% 20.03% 19.40% 19.61% 18.50% 16.25% 16.99% 22.47% 22.16% 20.85% 19.22% 19.24% 19.26% 19.78% 19.85%
Intuitive Surgical Inc. 24.45% 26.07% 30.11% 30.80% 30.94% 29.95% 29.78% 30.29% 22.31% 23.20% 23.25% 21.09% 30.16% 28.44% 27.99% 27.21% 27.51% 26.80% 25.67% 24.69%
Medtronic PLC 17.11% 15.11% 14.41% 15.16% 16.10% 7.44% 10.56% 10.36% 9.44% 16.93% 13.75% 13.56% 13.51% 14.62% 12.70% 12.27% 8.52% 8.92% 11.28% 13.20%
Stryker Corp. 12.35% 11.38% 14.47% 13.99% 23.55% 24.99% 25.38% 26.12% 9.31% 8.28% 8.00% 8.20% 14.67% 14.22% 14.33% 14.54% 15.24% 15.33% 16.07% 14.47%
UnitedHealth Group Inc. 6.66% 6.94% 5.63% 5.76% 5.61% 5.55% 5.49% 5.33% 5.75% 5.58% 5.43% 5.28% 4.41% 4.23% 4.03% 3.81% 3.64% 3.52% 3.64% 3.72%

Based on: 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), 10-K (filing date: 2016-02-25), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Q3 2020 Calculation
Net profit margin = 100 × (Net incomeQ3 2020 + Net incomeQ2 2020 + Net incomeQ1 2020 + Net incomeQ4 2019) ÷ (RevenuesQ3 2020 + RevenuesQ2 2020 + RevenuesQ1 2020 + RevenuesQ4 2019)
= 100 × (1,933 + 1,156 + 788 + 1,002) ÷ (8,521 + 6,917 + 6,230 + 6,829) = 17.12%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Thermo Fisher Scientific Inc.’s net profit margin ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Return on Equity (ROE)

Thermo Fisher Scientific Inc., ROE calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015
Selected Financial Data (US$ in millions)
Net income 1,933  1,156  788  1,002  760  1,119  815  898  709  752  579  528  534  612  551  630  474  517  402  603  476  512  385 
Shareholders’ equity 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  21,350  20,850  20,680  19,915 
Profitability Ratio
ROE1 15.33% 12.41% 12.85% 12.45% 12.24% 12.33% 11.46% 10.65% 9.55% 9.05% 8.62% 8.76% 9.42% 10.12% 9.96% 9.39% 9.21% 9.39% 9.52% 9.25%
Benchmarks
ROE, Competitors2
Becton, Dickinson & Co. 3.79% 5.13% 4.30% 5.85% 4.35% 5.06% 4.89% 1.48% 3.61% 0.22% 1.89% 8.50% 6.30% 16.51% 17.26% 12.79% 14.17% 10.57% 9.53% 9.70%
Boston Scientific Corp. 23.80% 25.53% 31.06% 33.87% 11.24% 14.81% 19.46% 19.15% 8.08% 6.73% 1.59% 1.48% 11.11% 10.89% 6.17% 5.15% 1.25% -5.55% -0.56% -3.78%
Danaher Corp. 9.70% 9.56% 10.53% 9.94% 7.63% 7.69% 7.66% 9.40% 9.98% 9.81% 9.39% 9.45% 9.39% 8.95% 9.68% 11.10% 10.76% 14.00% 14.47% 14.17%
Edwards Lifesciences Corp. 18.86% 19.37% 28.40% 25.24% 20.28% 20.71% 22.20% 23.00% 21.19% 20.75% 17.25% 19.74% 23.55% 24.36% 23.94% 21.74% 20.50% 21.38% 22.38% 19.77%
Intuitive Surgical Inc. 11.38% 13.00% 16.30% 16.69% 16.93% 16.65% 16.33% 16.89% 12.68% 13.68% 13.97% 13.97% 18.21% 18.05% 18.88% 12.74% 13.03% 13.09% 13.22% 13.63%
Medtronic PLC 10.26% 9.23% 8.78% 9.25% 9.87% 4.56% 6.30% 6.12% 5.59% 9.75% 8.12% 8.01% 8.03% 8.45% 7.18% 6.80% 4.79% 4.43% 4.97% 5.03%
Stryker Corp. 13.52% 12.55% 16.50% 16.26% 27.82% 29.72% 30.12% 30.29% 12.54% 11.42% 11.06% 10.23% 17.06% 16.94% 17.41% 17.25% 17.78% 17.64% 18.36% 16.91%
UnitedHealth Group Inc. 25.65% 26.87% 24.14% 24.02% 24.25% 24.46% 24.39% 23.19% 25.12% 24.56% 23.60% 22.10% 19.04% 18.79% 18.08% 18.33% 17.40% 16.98% 17.09% 17.18%

Based on: 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), 10-K (filing date: 2016-02-25), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Q3 2020 Calculation
ROE = 100 × (Net incomeQ3 2020 + Net incomeQ2 2020 + Net incomeQ1 2020 + Net incomeQ4 2019) ÷ Shareholders’ equity
= 100 × (1,933 + 1,156 + 788 + 1,002) ÷ 31,824 = 15.33%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Thermo Fisher Scientific Inc.’s ROE deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Return on Assets (ROA)

Thermo Fisher Scientific Inc., ROA calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015
Selected Financial Data (US$ in millions)
Net income 1,933  1,156  788  1,002  760  1,119  815  898  709  752  579  528  534  612  551  630  474  517  402  603  476  512  385 
Total assets 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  40,889  41,147  41,774  41,857 
Profitability Ratio
ROA1 7.62% 6.02% 6.25% 6.33% 6.33% 6.11% 5.71% 5.22% 4.66% 4.32% 3.98% 3.93% 4.16% 4.87% 4.70% 4.40% 4.16% 4.73% 4.64% 4.83%
Benchmarks
ROA, Competitors2
Becton, Dickinson & Co. 1.69% 2.01% 1.76% 2.38% 1.79% 2.05% 1.98% 0.58% 1.43% 0.08% 0.73% 2.92% 2.13% 5.45% 5.38% 3.81% 4.37% 3.09% 2.64% 2.59%
Boston Scientific Corp. 12.01% 12.93% 14.24% 15.38% 4.07% 5.74% 7.55% 7.96% 3.29% 2.66% 0.58% 0.55% 4.52% 4.29% 2.42% 1.92% 0.46% -1.93% -0.20% -1.32%
Danaher Corp. 5.05% 4.86% 4.74% 4.85% 4.03% 4.64% 4.67% 5.54% 5.79% 5.55% 5.41% 5.34% 5.20% 4.82% 5.09% 5.64% 6.04% 6.81% 7.33% 6.96%
Edwards Lifesciences Corp. 11.68% 11.58% 18.23% 16.14% 12.97% 13.01% 13.99% 13.57% 11.96% 11.55% 9.61% 10.25% 13.57% 13.94% 13.74% 12.63% 12.71% 13.04% 13.35% 12.19%
Intuitive Surgical Inc. 9.92% 11.24% 14.02% 14.17% 14.39% 14.18% 13.93% 14.37% 10.88% 11.70% 11.95% 11.46% 15.99% 15.55% 16.21% 11.34% 11.69% 11.73% 11.84% 12.00%
Medtronic PLC 5.73% 5.13% 4.84% 5.16% 5.54% 2.56% 3.53% 3.40% 2.93% 5.31% 4.10% 4.04% 4.07% 4.31% 3.70% 3.55% 2.37% 2.21% 2.51% 2.51%
Stryker Corp. 5.44% 5.09% 7.35% 6.90% 12.85% 13.47% 13.58% 13.05% 5.60% 5.01% 4.60% 4.60% 8.28% 7.98% 8.23% 8.06% 8.22% 7.82% 8.22% 8.86%
UnitedHealth Group Inc. 8.76% 8.88% 7.27% 7.96% 7.68% 7.77% 7.83% 7.87% 8.32% 7.67% 7.21% 7.59% 6.14% 5.87% 5.53% 5.71% 5.30% 5.17% 5.10% 5.22%

Based on: 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), 10-K (filing date: 2016-02-25), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-31), 10-Q (filing date: 2015-05-01).

1 Q3 2020 Calculation
ROA = 100 × (Net incomeQ3 2020 + Net incomeQ2 2020 + Net incomeQ1 2020 + Net incomeQ4 2019) ÷ Total assets
= 100 × (1,933 + 1,156 + 788 + 1,002) ÷ 64,061 = 7.62%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Thermo Fisher Scientific Inc.’s ROA deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.