THERMO FISHER SCIENTIFIC INC. (TMO) closed fiscal year 2025 with a gross margin of 40.9 % and a net margin of 15.0 %.
THERMO FISHER SCIENTIFIC INC. (TMO) closed fiscal year 2025 with a gross margin of 40.9 % and a net margin of 15.0 %. The same year shows an EBITDA margin of 23.6 % and an EBIT margin of 17.4 %. The free cash flow margin was 14.1 %. Against the previous year the gross margin moved −0.3 pp and the net margin +0.3 pp. Across the period the gross margin ranges between 39.0 % in 2007 and 45.8 % in 2016. The series covers 19 fiscal years, from 2007 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | 39.03 % | 40.07 % | 39.33 % | 41.00 % | 41.47 % | 42.33 % | 42.24 % | 44.36 % | 45.72 % | 45.80 % | 45.15 % | — | — | — | — | 42.24 % | 39.90 % | 41.28 % | 40.94 % |
| EBITDA margin (%) | 17.76 % | 19.26 % | 17.81 % | 18.55 % | 18.26 % | 19.71 % | 19.93 % | 24.80 % | 23.72 % | 23.08 % | 23.87 % | 24.84 % | 26.90 % | 31.41 % | 32.18 % | 26.21 % | 23.95 % | 24.36 % | 23.62 % |
| EBIT margin (%) | 10.00 % | 11.71 % | 10.11 % | 11.43 % | 10.82 % | 11.85 % | 12.30 % | 14.82 % | 13.77 % | 13.45 % | 14.15 % | 15.53 % | 17.99 % | 24.19 % | 25.57 % | 18.69 % | 16.00 % | 17.11 % | 17.38 % |
| Net margin (%) | 7.68 % | 9.34 % | 8.58 % | 9.96 % | 11.51 % | 9.42 % | 9.73 % | 11.22 % | 11.64 % | 11.06 % | 10.64 % | 12.06 % | 14.47 % | 19.79 % | 19.70 % | 15.47 % | 13.99 % | 14.77 % | 15.05 % |
| FCF margin (%) | 13.42 % | 11.01 % | 14.72 % | 12.05 % | 12.37 % | 13.78 % | 13.20 % | 12.98 % | 14.85 % | 15.40 % | 16.72 % | 15.54 % | 15.84 % | 21.15 % | 17.31 % | 15.39 % | 16.16 % | 16.95 % | 14.12 % |
