Thermo Fisher Scientific (TMO) Debt Ratio (2009 - 2026)

Thermo Fisher Scientific (TMO) posted quarterly Debt Ratio of 0.4 for Q2 2026, up 9.63% year-over-year from 0.37 in Q2 2025, and down 0.74% on a QoQ basis from 0.41 in Q1 2026.

Thermo Fisher Scientific (TMO) Debt Ratio (2009 - 2026) Analysis & Trends

Thermo Fisher Scientific has reported Debt Ratio for 18 years, with the latest figure at 0.4 in Q2 2026.

  • Debt Ratio for Q2 2026 came in at 0.4, up 9.63% year-over-year; the trailing twelve-month figure through Jun 2026 was 0.4 (up 9.63% YoY), and the FY2025 annual result was 0.39, up 13.16% from the prior year.
  • Debt Ratio declined to 0.4 in Q2 2026, from 0.41 in the prior quarter.
  • Over five years, Debt Ratio peaked at 0.43 in Q2 2023 and troughed at 0.33 in Q4 2022.
  • A 5-year average of 0.39 and a median of 0.39 in 2023 frame the typical range for Debt Ratio.
  • The widest annual swing landed in 2022, when Debt Ratio soared 33.13%; it then dropped 11.92% in 2024.
  • A 5-year view of Debt Ratio shows it stood at 0.41 in 2022, then retreated by 5.35% to 0.39 in 2023, then fell by 11.92% to 0.34 in 2024, then climbed by 13.16% to 0.39 in 2025, then gained by 4.23% to 0.4 in 2026.
  • Per Business Quant data, the three most recent Debt Ratio figures were 0.4 in Q2 2026, 0.41 in Q1 2026, and 0.39 in Q4 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Debt Ratio (Qtr)
1 Thermo Fisher Scientific 213.92 Bn 209.86 Bn 8.34 Bn 0.40
2 Danaher 140.37 Bn 136.02 Bn 3.61 Bn 0.29
3 Idexx Laboratories 46.17 Bn 45.97 Bn 779.09 Mn 0.24
4 Agilent Technologies 39.76 Bn 37.96 Bn 990.00 Mn 0.26
5 Iqvia Holdings 39.41 Bn 37.33 Bn 1.44 Bn 0.54
6 Natera 38.75 Bn 37.65 Bn 696.04 Mn 0.01
7 Illumina 30.07 Bn 28.90 Bn 770.00 Mn 0.22
8 Mettler Toledo International 28.62 Bn 28.56 Bn 650.22 Mn 0.58
9 Quest Diagnostics 26.15 Bn 25.53 Bn 1.03 Bn 0.33
10 Labcorp Holdings 25.87 Bn 24.89 Bn 1.01 Bn 0.33

Historic Data

Download Data
DateValue
Jun 27, 2026 0.40
Mar 28, 2026 0.41
Dec 31, 2025 0.36
Sep 27, 2025 0.38
Jun 28, 2025 0.35
Mar 29, 2025 0.37
Dec 31, 2024 0.34
Sep 28, 2024 0.39
Jun 29, 2024 0.36
Mar 30, 2024 0.37
Dec 31, 2023 0.35
Sep 30, 2023 0.41
Jul 1, 2023 0.41
Apr 1, 2023 0.43
Dec 31, 2022 0.35
Oct 1, 2022 0.32
Jul 2, 2022 0.34
Apr 2, 2022 0.38
Dec 31, 2021 0.37
Oct 2, 2021 0.29