Thermo Fisher Scientific Inc (TMO) — Working Capital to Net Assets Ratio
Thermo Fisher Scientific Inc (TMO) has a Working Capital to Net Assets ratio of 14.5% as of September 2025. Working capital of $7.41 Billion (current assets of $22.30 Billion minus current liabilities of $14.89 Billion) is measured against net assets of $51.02 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See TMO FCF to total liabilities ratio to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Thermo Fisher Scientific Inc Working Capital to Net Assets (1985–2024)
This chart shows how Thermo Fisher Scientific Inc's Working Capital to Net Assets ratio has evolved across 40 annual periods from 1985 to 2024. As of September 2025, the ratio stands at 14.5%, reflecting working capital of $7.41 Billion against net assets of $51.02 Billion USD. See Thermo Fisher Scientific Inc liquidity coverage in days to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Thermo Fisher Scientific Inc (1985–2024)
The table below presents the year-by-year Working Capital to Net Assets ratio for Thermo Fisher Scientific Inc from 1985 to 2024, covering 40 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see Thermo Fisher Scientific Inc (TMO) market capitalisation.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2024 | 17.7% | $8.80 Billion | $49.67 Billion | $22.14 Billion | $13.33 Billion | ▼ -4.9 pp |
| 2023 | 22.6% | $10.58 Billion | $46.84 Billion | $24.59 Billion | $14.01 Billion | ▲ +4.0 pp |
| 2022 | 18.6% | $8.22 Billion | $44.15 Billion | $25.23 Billion | $17.01 Billion | ▲ +2.3 pp |
| 2021 | 16.3% | $6.68 Billion | $40.98 Billion | $20.11 Billion | $13.44 Billion | ▼ -17.5 pp |
| 2020 | 33.8% | $11.65 Billion | $34.52 Billion | $21.96 Billion | $10.30 Billion | ▲ +14.6 pp |
| 2019 | 19.2% | $5.70 Billion | $29.68 Billion | $11.89 Billion | $6.20 Billion | ▲ +3.0 pp |
| 2018 | 16.2% | $4.48 Billion | $27.59 Billion | $10.62 Billion | $6.15 Billion | ▲ +6.9 pp |
| 2017 | 9.3% | $2.37 Billion | $25.41 Billion | $9.42 Billion | $7.05 Billion | ▼ -0.7 pp |
| 2016 | 10.0% | $2.15 Billion | $21.54 Billion | $7.02 Billion | $4.87 Billion | ▲ +2.5 pp |
| 2015 | 7.5% | $1.59 Billion | $21.35 Billion | $5.74 Billion | $4.15 Billion | ▲ +1.7 pp |
| 2014 | 5.8% | $1.19 Billion | $20.55 Billion | $6.54 Billion | $5.35 Billion | ▼ -34.3 pp |
| 2013 | 40.1% | $6.75 Billion | $16.86 Billion | $9.88 Billion | $3.13 Billion | ▲ +22.3 pp |
| 2012 | 17.7% | $2.74 Billion | $15.46 Billion | $4.83 Billion | $2.09 Billion | ▲ +6.2 pp |
| 2011 | 11.5% | $1.73 Billion | $15.04 Billion | $4.82 Billion | $3.09 Billion | ▼ -4.1 pp |
| 2010 | 15.6% | $2.39 Billion | $15.36 Billion | $4.14 Billion | $1.74 Billion | ▼ -3.2 pp |
| 2009 | 18.7% | $2.89 Billion | $15.43 Billion | $4.53 Billion | $1.64 Billion | ▼ -0.1 pp |
| 2008 | 18.8% | $2.81 Billion | $14.93 Billion | $4.35 Billion | $1.54 Billion | ▲ +6.6 pp |
| 2007 | 12.2% | $1.76 Billion | $14.49 Billion | $3.67 Billion | $1.90 Billion | ▲ +1.3 pp |
| 2006 | 10.8% | $1.51 Billion | $13.91 Billion | $3.66 Billion | $2.15 Billion | ▼ -9.3 pp |
| 2005 | 20.1% | $562.24 Million | $2.79 Billion | $1.35 Billion | $791.66 Million | ▼ -13.3 pp |
| 2004 | 33.4% | $890.93 Million | $2.67 Billion | $1.47 Billion | $578.73 Million | ▲ +3.6 pp |
| 2003 | 29.8% | $710.46 Million | $2.38 Billion | $1.40 Billion | $684.79 Million | ▼ -3.0 pp |
| 2002 | 32.8% | $667.84 Million | $2.03 Billion | $1.77 Billion | $1.10 Billion | ▼ -10.1 pp |
| 2001 | 43.0% | $823.17 Million | $1.92 Billion | $1.97 Billion | $1.14 Billion | ▼ -24.9 pp |
| 2000 | 67.9% | $1.74 Billion | $2.56 Billion | $2.47 Billion | $728.55 Million | ▲ +7.1 pp |
| 1999 | 60.8% | $1.45 Billion | $2.39 Billion | $2.52 Billion | $1.07 Billion | ▼ -11.5 pp |
| 1998 | 72.3% | $2.16 Billion | $2.99 Billion | $3.30 Billion | $1.14 Billion | ▲ +1.1 pp |
| 1997 | 71.2% | $2.00 Billion | $2.81 Billion | $3.09 Billion | $1.09 Billion | ▼ -17.0 pp |
| 1996 | 88.2% | $2.22 Billion | $2.52 Billion | $3.13 Billion | $913.20 Million | ▲ +15.2 pp |
| 1995 | 73.0% | $1.31 Billion | $1.79 Billion | $2.02 Billion | $714.80 Million | ▼ -13.9 pp |
| 1994 | 87.0% | $1.15 Billion | $1.32 Billion | $1.68 Billion | $536.50 Million | ▲ +15.0 pp |
| 1993 | 72.0% | $828.30 Million | $1.15 Billion | $1.24 Billion | $416.20 Million | ▲ +2.3 pp |
| 1992 | 69.6% | $503.30 Million | $722.70 Million | $829.70 Million | $326.40 Million | ▼ -6.8 pp |
| 1991 | 76.4% | $465.30 Million | $609.00 Million | $762.70 Million | $297.40 Million | ▲ +16.2 pp |
| 1990 | 60.2% | $240.70 Million | $399.80 Million | $494.20 Million | $253.50 Million | ▼ -39.9 pp |
| 1989 | 100.1% | $262.40 Million | $262.20 Million | $415.90 Million | $153.50 Million | ▼ -14.6 pp |
| 1988 | 114.7% | $208.10 Million | $181.50 Million | $331.20 Million | $123.10 Million | ▼ -9.6 pp |
| 1987 | 124.3% | $201.10 Million | $161.80 Million | $296.20 Million | $95.10 Million | ▲ +43.1 pp |
| 1986 | 81.2% | $118.40 Million | $145.80 Million | $194.10 Million | $75.70 Million | ▲ +8.5 pp |
| 1985 | 72.7% | $73.90 Million | $101.60 Million | $131.40 Million | $57.50 Million | — |