How Thermo Fisher Scientific makes money

Period

FY2025

How does Thermo Fisher Scientific make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Thermo Fisher Scientific Inc. · FY2025 · year ended 2025-12-31

Revenue$44.6BGross profit$44.6B · 100%Cost of revenue$0 · 0%Operating income$7.7B · 17%Operating expenses$36.8B · 83%R&D$1.4B · 3%SG&A$8.7B · 20%Other opex$26.7B · 60%Pre-tax income$7.3B · 16%Other expense$495M · 1%Net income$6.7B · 15%Income tax$547M · 1%Consumables$18.7B · 42%Service$18.6B · 42%Instruments$7.3B · 16%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.