Thermo Fisher Scientific (TMO) Cost of Revenue (2009 - 2026)
Thermo Fisher Scientific's Cost of Revenue was $7.11 billion in Q2 2026, up 10.3% from $6.45 billion a year earlier and up 8.2% from the prior quarter.
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Analysis
Thermo Fisher Scientific (TMO) Cost of Revenue (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Thermo Fisher Scientific's Cost of Revenue was $27.43 billion through Jun 27, 2026, up 7.9% year-over-year; for FY2025, it came in at $26.32 billion, up 4.5% from FY2024.
- Cost of Revenue shows a five-year compound annual growth rate of 10.2% (FY2020 to FY2025).
- In earlier years, Cost of Revenue was $25.18 billion in FY2024 (-2.3%), $25.76 billion in FY2023 (-0.7%), $25.94 billion in FY2022 (+32.5%) and $19.57 billion in FY2021 (+20.7%).
- Quarterly Cost of Revenue has moved between $33 million (Q3 2021) and $7.2 billion (Q4 2025) over five years.
- Compared with a year earlier, Cost of Revenue has increased for five straight quarters, with growth averaging 4.6% over the last eight quarters.
- The best year-over-year quarter for Cost of Revenue over five years was Q1 2022 (growth of 35.3%); the worst was Q3 2021 (a decline of 99.2%).
- Per Business Quant data, TMO's Cost of Revenue in the three quarters before Q2 2026 was $6.58 billion (Q1 2026), $7.2 billion (Q4 2025) and $6.54 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 257.79 Bn | 234.30 Bn | 5.13 Bn | 7.01 Bn |
| 2 | Abbott Laboratories | 190.83 Bn | 164.70 Bn | 7.39 Bn | 5.63 Bn |
| 3 | Danaher | 162.10 Bn | 141.75 Bn | 3.84 Bn | 2.72 Bn |
| 4 | Intuitive Surgical | 158.05 Bn | 138.34 Bn | 2.08 Bn | 964.40 Mn |
| 5 | Medtronic | 130.31 Bn | 95.56 Bn | 6.34 Bn | 3.42 Bn |
| 6 | Stryker | 124.76 Bn | 110.95 Bn | 4.25 Bn | 2.27 Bn |
| 7 | Boston Scientific | 62.03 Bn | 57.46 Bn | 3.43 Bn | 1.71 Bn |
| 8 | Edwards Lifesciences | 58.73 Bn | 41.94 Bn | 1.35 Bn | 369.20 Mn |
| 9 | Becton Dickinson | 58.33 Bn | 55.48 Bn | 2.32 Bn | 2.67 Bn |
| 10 | Agilent Technologies | 49.29 Bn | 42.18 Bn | 1.04 Bn | 836.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 26, 2026 | 7.01 Bn |
| Jun 27, 2026 | 7.11 Bn |
| Mar 28, 2026 | 6.58 Bn |
| Dec 31, 2025 | 7.20 Bn |
| Sep 27, 2025 | 6.54 Bn |
| Jun 28, 2025 | 6.45 Bn |
| Mar 29, 2025 | 6.13 Bn |
| Dec 31, 2024 | 6.57 Bn |
| Sep 28, 2024 | 6.27 Bn |
| Jun 29, 2024 | 6.19 Bn |
| Mar 30, 2024 | 6.14 Bn |
| Dec 31, 2023 | 6.49 Bn |
| Sep 30, 2023 | 6.26 Bn |
| Jul 1, 2023 | 6.44 Bn |
| Apr 1, 2023 | 6.57 Bn |
| Dec 31, 2022 | 6.84 Bn |
| Oct 1, 2022 | 6.38 Bn |
| Jul 2, 2022 | 6.37 Bn |
| Apr 2, 2022 | 6.35 Bn |
| Dec 31, 2021 | 5.45 Bn |
API Access
Thermo Fisher Scientific Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=TMO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "TMO", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=TMO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();