Thermo Fisher Scientific

TMO · Health Care · Market cap $211B

Q1 FY26 Mar 28, 2026 reported May 1, 2026

Revenue$11B +6% year over year

Gross profit$4.4B

Operating profit$1.9B

Net profit$1.7B 15% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 28, 2026).
Item	Value	Share of revenue	Year over year
Revenue	11	100%	+6%
Service	4.7	43%	+8%
Consumables	4.7	43%	+8%
Instruments	1.6	15%	−4%
Cost of revenue	−6.7	61%
Gross profit	4.4	40% margin	+0pp
Research & development	−0.3	3%	+0pp
SG&A	−2.2	20%	+0pp
Operating profit	1.9	17% margin	+0pp
Tax	−0.1
Interest & other costs	−0.1
Net profit	1.7	15%	+0pp

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	12.2	100%	+7%
Consumables	5	41%	+11%
Service	5	41%	+7%
Instruments	2.2	18%	−1%
Cost of revenue	−7.3	60%
Gross profit	4.9	40% margin	+0pp
Research & development	−0.4	3%	+0pp
SG&A	−2.2	19%	+0pp
Operating profit	2.3	18% margin	+1pp
Tax	−0.2
Interest & other costs	−0.1
Net profit	2	16%	+0pp

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 27, 2025).
Item	Value	Share of revenue	Year over year
Revenue	11.1	100%	+5%
Consumables	4.7	42%	+7%
Service	4.6	41%	+4%
Instruments	1.8	16%	+2%
Cost of revenue	−6.8	61%
Gross profit	4.3	39% margin	−1pp
Research & development	−0.3	3%	+0pp
SG&A	−2.1	19%	+0pp
Operating profit	1.9	17% margin	+0pp
Tax	−0.2
Interest & other costs	−0.1
Net profit	1.6	15%	−1pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 28, 2025).
Item	Value	Share of revenue	Year over year
Revenue	10.9	100%	+3%
Consumables	4.6	42%	+6%
Service	4.6	42%	+5%
Instruments	1.6	15%	−9%
Cost of revenue	−6.6	61%
Gross profit	4.2	39% margin	−1pp
Research & development	−0.4	3%	+0pp
SG&A	−2	20%	+0pp
Operating profit	1.8	17% margin	+0pp
Tax	−0.1
Interest & other costs	−0.1
Net profit	1.6	15%	+0pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q1 FY26	Mar 28, 2026	May 1, 2026	$11B	+6%	17%	$1.7B	15%
Q4 FY25	Sep 28 – Dec 31, 2025	Feb 26, 2026	$12.2B	+7%	19%	$2B	16%
Q3 FY25	Jun 29 – Sep 27, 2025	Oct 31, 2025	$11.1B	+5%	17%	$1.6B	15%
Q2 FY25	Mar 30 – Jun 28, 2025	Aug 1, 2025	$10.9B	+3%	17%	$1.6B	15%