Thermo Fisher Scientific Inc (TMO) - Net Assets
Based on the latest financial reports, Thermo Fisher Scientific Inc (TMO) has net assets worth $51.02 Billion USD as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($103.02 Billion) and total liabilities ($52.00 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check TMO asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $51.02 Billion |
| % of Total Assets | 49.53% |
| Annual Growth Rate | 17.21% |
| 5-Year Change | 43.9% |
| 10-Year Change | 132.65% |
| Growth Volatility | 63.26 |
Thermo Fisher Scientific Inc - Net Assets Trend (1985–2024)
This chart illustrates how Thermo Fisher Scientific Inc's net assets have evolved over time, based on quarterly financial data. Also explore total assets of Thermo Fisher Scientific Inc for the complete picture of this company's asset base.
Annual Net Assets for Thermo Fisher Scientific Inc (1985–2024)
The table below shows the annual net assets of Thermo Fisher Scientific Inc from 1985 to 2024. For live valuation and market cap data, see Thermo Fisher Scientific Inc market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $49.67 Billion | +6.04% |
| 2023-12-31 | $46.84 Billion | +6.10% |
| 2022-12-31 | $44.15 Billion | +7.74% |
| 2021-12-31 | $40.98 Billion | +18.72% |
| 2020-12-31 | $34.52 Billion | +16.32% |
| 2019-12-31 | $29.68 Billion | +7.57% |
| 2018-12-31 | $27.59 Billion | +8.55% |
| 2017-12-31 | $25.41 Billion | +17.98% |
| 2016-12-31 | $21.54 Billion | +0.89% |
| 2015-12-31 | $21.35 Billion | +3.90% |
| 2014-12-31 | $20.55 Billion | +21.90% |
| 2013-12-31 | $16.86 Billion | +9.00% |
| 2012-12-31 | $15.46 Billion | +2.84% |
| 2011-12-31 | $15.04 Billion | -2.10% |
| 2010-12-31 | $15.36 Billion | -0.45% |
| 2009-12-31 | $15.43 Billion | +3.38% |
| 2008-12-31 | $14.93 Billion | +3.03% |
| 2007-12-31 | $14.49 Billion | +4.14% |
| 2006-12-31 | $13.91 Billion | +398.04% |
| 2005-12-31 | $2.79 Billion | +4.79% |
| 2004-12-31 | $2.67 Billion | +11.87% |
| 2003-12-31 | $2.38 Billion | +17.19% |
| 2002-12-31 | $2.03 Billion | +6.18% |
| 2001-12-31 | $1.92 Billion | -25.16% |
| 2000-12-31 | $2.56 Billion | +7.22% |
| 1999-12-31 | $2.39 Billion | -20.23% |
| 1998-12-31 | $2.99 Billion | +6.44% |
| 1997-12-31 | $2.81 Billion | +11.76% |
| 1996-12-31 | $2.52 Billion | +40.58% |
| 1995-12-31 | $1.79 Billion | +35.74% |
| 1994-12-31 | $1.32 Billion | +14.54% |
| 1993-12-31 | $1.15 Billion | +59.22% |
| 1992-12-31 | $722.70 Million | +18.67% |
| 1991-12-31 | $609.00 Million | +52.33% |
| 1990-12-31 | $399.80 Million | +52.48% |
| 1989-12-31 | $262.20 Million | +44.46% |
| 1988-12-31 | $181.50 Million | +12.18% |
| 1987-12-31 | $161.80 Million | +10.97% |
| 1986-12-31 | $145.80 Million | +43.50% |
| 1985-12-31 | $101.60 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Thermo Fisher Scientific Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 95752.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $53.10 Billion | 107.10% |
| Common Stock | $444.00 Million | 0.90% |
| Other Comprehensive Income | $-2.70 Billion | -5.44% |
| Total Equity | $49.58 Billion | 100.00% |
Thermo Fisher Scientific Inc Competitors by Market Cap
The table below lists competitors of Thermo Fisher Scientific Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Toronto Dominion Bank
TO:TD
|
$176.31 Billion |
|
Walt Disney Company
NYSE:DIS
|
$176.33 Billion |
|
Mitsubishi UFJ Financial Group Inc
F:MFZA
|
$176.47 Billion |
|
Commonwealth Bank of Australia
F:CWW
|
$176.84 Billion |
|
Amphenol Corporation
NYSE:APH
|
$174.92 Billion |
|
Verizon Communications Inc.
F:BAC
|
$174.74 Billion |
|
The Boeing Company
NYSE:BA
|
$172.93 Billion |
|
The TJX Companies Inc
NYSE:TJX
|
$171.90 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Thermo Fisher Scientific Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 46,735,000,000 to 49,584,000,000, a change of 2,849,000,000 (6.1%).
- Net income of 6,335,000,000 contributed positively to equity growth.
- Dividend payments of 583,000,000 reduced retained earnings.
- Share repurchases of 4,000,000,000 reduced equity.
- Other comprehensive income increased equity by 527,000,000.
- Other factors increased equity by 570,000,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $6.33 Billion | +12.78% |
| Dividends Paid | $583.00 Million | -1.18% |
| Share Repurchases | $4.00 Billion | -8.07% |
| Other Comprehensive Income | $527.00 Million | +1.06% |
| Other Changes | $570.00 Million | +1.15% |
| Total Change | $- | 6.10% |
Book Value vs Market Value Analysis
This analysis compares Thermo Fisher Scientific Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 3.62x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 225.37x to 3.62x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $2.08 | $469.21 | x |
| 1986-12-31 | $2.48 | $469.21 | x |
| 1987-12-31 | $2.79 | $469.21 | x |
| 1988-12-31 | $3.09 | $469.21 | x |
| 1989-12-31 | $3.45 | $469.21 | x |
| 1990-12-31 | $4.47 | $469.21 | x |
| 1991-12-31 | $5.59 | $469.21 | x |
| 1992-12-31 | $6.13 | $469.21 | x |
| 1993-12-31 | $8.11 | $469.21 | x |
| 1994-12-31 | $6.80 | $469.21 | x |
| 1995-12-31 | $8.22 | $469.21 | x |
| 1996-12-31 | $9.98 | $469.21 | x |
| 1997-12-31 | $11.77 | $469.21 | x |
| 1998-12-31 | $13.35 | $469.21 | x |
| 1999-12-31 | $12.73 | $469.21 | x |
| 2000-12-31 | $15.44 | $469.21 | x |
| 2001-12-31 | $10.31 | $469.21 | x |
| 2002-12-31 | $11.36 | $469.21 | x |
| 2003-12-31 | $13.96 | $469.21 | x |
| 2004-12-31 | $15.90 | $469.21 | x |
| 2005-12-31 | $16.89 | $469.21 | x |
| 2006-12-31 | $68.30 | $469.21 | x |
| 2007-12-31 | $32.65 | $469.21 | x |
| 2008-12-31 | $34.34 | $469.21 | x |
| 2009-12-31 | $36.48 | $469.21 | x |
| 2010-12-31 | $37.52 | $469.21 | x |
| 2011-12-31 | $39.08 | $469.21 | x |
| 2012-12-31 | $42.18 | $469.21 | x |
| 2013-12-31 | $46.08 | $469.21 | x |
| 2014-12-31 | $51.08 | $469.21 | x |
| 2015-12-31 | $53.12 | $469.21 | x |
| 2016-12-31 | $54.20 | $469.21 | x |
| 2017-12-31 | $63.85 | $469.21 | x |
| 2018-12-31 | $67.95 | $469.21 | x |
| 2019-12-31 | $73.64 | $469.21 | x |
| 2020-12-31 | $86.48 | $469.21 | x |
| 2021-12-31 | $102.75 | $469.21 | x |
| 2022-12-31 | $111.62 | $469.21 | x |
| 2023-12-31 | $120.45 | $469.21 | x |
| 2024-12-31 | $129.46 | $469.21 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Thermo Fisher Scientific Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 12.78%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 14.77%
- • Asset Turnover: 0.44x
- • Equity Multiplier: 1.96x
- Recent ROE (12.78%) is above the historical average (9.20%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 9.45% | 3.61% | 1.20x | 2.18x | $-560.00K |
| 1986 | 9.81% | 4.31% | 1.07x | 2.12x | $-280.00K |
| 1987 | 11.19% | 4.72% | 0.90x | 2.63x | $1.92 Million |
| 1988 | 11.07% | 4.02% | 1.02x | 2.70x | $1.95 Million |
| 1989 | 11.68% | 4.25% | 0.93x | 2.96x | $3.54 Million |
| 1990 | 10.73% | 4.79% | 0.79x | 2.84x | $2.31 Million |
| 1991 | 9.68% | 5.85% | 0.67x | 2.47x | $-1.55 Million |
| 1992 | 10.60% | 6.24% | 0.52x | 3.26x | $3.36 Million |
| 1993 | 8.77% | 6.13% | 0.51x | 2.83x | $-10.70 Million |
| 1994 | 10.44% | 6.52% | 0.52x | 3.05x | $4.37 Million |
| 1995 | 10.78% | 6.35% | 0.59x | 2.88x | $10.10 Million |
| 1996 | 10.88% | 6.51% | 0.57x | 2.93x | $15.40 Million |
| 1997 | 11.98% | 6.73% | 0.61x | 2.90x | $39.50 Million |
| 1998 | 8.09% | 4.70% | 0.61x | 2.82x | $-42.90 Million |
| 1999 | -8.67% | -7.07% | 0.48x | 2.57x | $-376.00 Million |
| 2000 | -1.43% | -1.58% | 0.47x | 1.92x | $-289.51 Million |
| 2001 | -0.04% | -0.04% | 0.57x | 2.00x | $-191.58 Million |
| 2002 | 15.23% | 14.85% | 0.57x | 1.79x | $106.40 Million |
| 2003 | 8.39% | 9.54% | 0.62x | 1.42x | $-38.27 Million |
| 2004 | 13.57% | 16.40% | 0.62x | 1.34x | $95.28 Million |
| 2005 | 7.99% | 8.48% | 0.62x | 1.52x | $-56.11 Million |
| 2006 | 1.21% | 4.46% | 0.18x | 1.53x | $-1.22 Billion |
| 2007 | 5.25% | 7.81% | 0.46x | 1.46x | $-687.73 Million |
| 2008 | 6.66% | 9.47% | 0.50x | 1.41x | $-498.46 Million |
| 2009 | 5.51% | 8.41% | 0.47x | 1.40x | $-692.79 Million |
| 2010 | 6.74% | 9.60% | 0.50x | 1.39x | $-500.50 Million |
| 2011 | 8.84% | 11.34% | 0.44x | 1.78x | $-173.91 Million |
| 2012 | 7.62% | 9.42% | 0.46x | 1.77x | $-368.57 Million |
| 2013 | 7.55% | 9.73% | 0.41x | 1.89x | $-412.31 Million |
| 2014 | 9.22% | 11.22% | 0.39x | 2.09x | $-160.41 Million |
| 2015 | 9.25% | 11.64% | 0.42x | 1.91x | $-159.62 Million |
| 2016 | 9.39% | 11.06% | 0.40x | 2.13x | $-132.13 Million |
| 2017 | 8.76% | 10.64% | 0.37x | 2.23x | $-316.30 Million |
| 2018 | 10.65% | 12.06% | 0.43x | 2.04x | $179.40 Million |
| 2019 | 12.45% | 14.47% | 0.44x | 1.97x | $728.50 Million |
| 2020 | 18.47% | 19.79% | 0.47x | 2.00x | $2.92 Billion |
| 2021 | 18.94% | 19.70% | 0.41x | 2.33x | $3.65 Billion |
| 2022 | 15.80% | 15.47% | 0.46x | 2.21x | $2.55 Billion |
| 2023 | 12.83% | 13.99% | 0.43x | 2.11x | $1.32 Billion |
| 2024 | 12.78% | 14.77% | 0.44x | 1.96x | $1.38 Billion |
Industry Comparison
This section compares Thermo Fisher Scientific Inc's net assets metrics with peer companies in the Diagnostics & Research industry.
Industry Context
- Industry: Diagnostics & Research
- Average net assets among peers: $543,908,184
- Average return on equity (ROE) among peers: -221.59%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Thermo Fisher Scientific Inc (TMO) | $51.02 Billion | 9.45% | 1.02x | $176.29 Billion |
| Agilent Technologies Inc (A) | $2.51 Billion | -1.24% | 2.04x | $32.42 Billion |
| Advanced Biomed Inc. Common Stock (ADVB) | $3.49 Million | -115.35% | 0.92x | $7.19 Million |
| Applied DNA Sciences Inc (APDN) | $11.11 Million | -144.24% | 0.30x | $3.99 Million |
| Biodesix Inc (BDSX) | $4.58 Million | -1138.56% | 20.64x | $79.44 Million |
| bioAffinity Technologies, Inc. (BIAF) | $7.28 Million | -204.87% | 0.51x | $9.85 Million |
| Biocept Inc. (BIOCQ) | $11.20 Million | -224.43% | 0.58x | $262.00 |
| BillionToOne, Inc. Class A Common Stock (BLLN) | $30.47 Million | -271.32% | 5.29x | $3.21 Billion |
| Burning Rock Biotech Ltd (BNR) | $2.42 Billion | -16.82% | 0.10x | $154.44 Million |
| CareDx Inc (CDNA) | $430.91 Million | -17.78% | 0.26x | $1.00 Billion |
| Check Cap Ltd (CHEK) | $13.03 Million | -81.27% | 0.18x | $9.42 Million |
About Thermo Fisher Scientific Inc
Thermo Fisher Scientific Inc. provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery and production of drugs and vaccines,… Read more