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Forensic Analysis · Industrial & Scientific Instruments · as of Nov 8, 2026

Thermo Fisher Scientific Inc. (TMO)

A forensic read on Thermo Fisher Scientific Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable
Forensic grade
Safe
Financial health
4.0
Distress distance
Clean
Earnings quality
1
Forensic signals
13.0%
ROE
3.9%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Thermo Fisher Scientific Inc. earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 4.0, placing it in the Safe zone. 1 forensic signal was flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

8.2%
FY2025
Return on invested capital. Return on invested capital is 8.2% in the latest fiscal year and steady across FY2023–FY2025, inside a 0.5-point range. After-tax operating profit was $6.2B in FY2023 and $7.0B in FY2025, with operating income at 16.0% of revenue in FY2023, 17.1% in FY2024 and 17.4% in FY2025. The capital base behind it went from $80.2B in FY2023 to $85.5B in FY2025 (+7%), while the revenue it carried went from $42.9B to $44.6B.

Key fundamentals

Latest Revenue$44.56B
Revenue Growth YoY+3.9%
Revenue CAGR (2yr)+2.0%
Net Margin15.0%
Free Cash Flow$6.29B
Return on Equity13.0%
Debt / Equity0.74x

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Data from SEC EDGAR public filings · metrics as of Nov 8, 2026. Forensic signals flag probability, not certainty.

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