Thermo Fisher Scientific (TMO) Invested Capital (2009 - 2026)
Thermo Fisher Scientific (TMO) reported Invested Capital of $95.24 billion for Q2 2026, up 11.1% from $85.71 billion a year earlier and up 0.1% from the prior quarter.
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Analysis
Thermo Fisher Scientific (TMO) Invested Capital (2009 - 2026) Analysis & Trends
For FY2025, Thermo Fisher Scientific posted Invested Capital of $92.8 billion, up 14.8% from FY2024.
- Invested Capital has a five-year compound annual growth rate of 10.5% (FY2020 to FY2025).
- By year, Invested Capital came in at $80.83 billion in FY2024 (-1.0%), $81.64 billion in FY2023 (+4.0%), $78.52 billion in FY2022 (+3.7%) and $75.73 billion in FY2021 (+34.6%).
- The Q2 2026 figure ranks as the highest quarterly Invested Capital in data going back to Q2 2009.
- Year over year, Invested Capital has now increased in each of the last six quarters, with growth averaging 6.6% over the last eight quarters.
- The high point for year-over-year Invested Capital in five years was Q1 2022 (growth of 38.3%); the low point was Q4 2024 (a decline of 1.0%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $95.1 billion (Q1 2026), $92.8 billion (Q4 2025) and $86.7 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 243.20 Bn | 222.35 Bn | 4.88 Bn | 95.24 Bn |
| 2 | Abbott Laboratories | 172.35 Bn | 143.43 Bn | 7.27 Bn | 84.37 Bn |
| 3 | Danaher | 154.53 Bn | 138.35 Bn | 3.61 Bn | 79.15 Bn |
| 4 | Intuitive Surgical | 150.04 Bn | 129.59 Bn | 1.96 Bn | - |
| 5 | Medtronic | 113.25 Bn | 79.11 Bn | 6.34 Bn | 79.00 Bn |
| 6 | Stryker | 106.37 Bn | 92.49 Bn | 4.50 Bn | 38.93 Bn |
| 7 | Boston Scientific | 61.94 Bn | 56.95 Bn | 3.85 Bn | 37.80 Bn |
| 8 | Becton Dickinson | 50.05 Bn | 47.20 Bn | 2.32 Bn | 41.22 Bn |
| 9 | Edwards Lifesciences | 49.13 Bn | 33.24 Bn | 1.35 Bn | 11.32 Bn |
| 10 | Agilent Technologies | 48.07 Bn | 40.96 Bn | 1.04 Bn | 7.67 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 27, 2026 | 95.24 Bn |
| Mar 28, 2026 | 95.10 Bn |
| Dec 31, 2025 | 92.80 Bn |
| Sep 27, 2025 | 86.70 Bn |
| Jun 28, 2025 | 85.71 Bn |
| Mar 29, 2025 | 83.55 Bn |
| Dec 31, 2024 | 80.83 Bn |
| Sep 28, 2024 | 84.29 Bn |
| Jun 29, 2024 | 82.82 Bn |
| Mar 30, 2024 | 81.11 Bn |
| Dec 31, 2023 | 81.64 Bn |
| Sep 30, 2023 | 80.63 Bn |
| Jul 1, 2023 | 77.81 Bn |
| Apr 1, 2023 | 77.57 Bn |
| Dec 31, 2022 | 78.52 Bn |
| Oct 1, 2022 | 72.77 Bn |
| Jul 2, 2022 | 72.61 Bn |
| Apr 2, 2022 | 74.27 Bn |
| Dec 31, 2021 | 75.73 Bn |
| Oct 2, 2021 | 60.46 Bn |
API Access
Thermo Fisher Scientific Invested Capital 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=invested-capital&ticker=TMO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=TMO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();