Thermo Fisher Scientific (TMO) Operating Expenses (2009 - 2026)

Thermo Fisher Scientific (TMO) posted Operating Expenses of $9.1 billion for Q1 2026, down 8.21% quarter-over-quarter from $10.0 billion in Q4 2025, and up 5.71% year-on-year from $8.6 billion in Q1 2025.

Thermo Fisher Scientific (TMO) Operating Expenses (2009 - 2026) Analysis & Trends

Thermo Fisher Scientific (TMO) has reported Operating Expenses for 18 consecutive years, with $9.1 billion the latest figure, recorded in Q1 2026.

  • Operating Expenses for Q1 2026 came in at $9.1 billion, up 5.71% year-over-year; the trailing twelve-month figure through Mar 2026 was $37.3 billion (up 5.06% YoY), and the FY2025 annual result was $36.8 billion, up 3.57% from the prior year.
  • Operating Expenses was $9.1 billion for Q1 2026 at Thermo Fisher Scientific, down from $10.0 billion in the prior quarter.
  • Over five years, Operating Expenses peaked at $10.0 billion in Q4 2025 and troughed at $8.6 billion in Q1 2025.
  • Average Operating Expenses over 5 years is $9.1 billion, with a median of $9.0 billion recorded in 2025.
  • Year-over-year, Operating Expenses surged 31.21% in 2022 and fell 5.81% in 2023.
  • Over 5 years, Operating Expenses stood at $9.6 billion in 2022, then declined by 5.81% to $9.0 billion in 2023, then gained by 3.84% to $9.4 billion in 2024, then advanced by 6.19% to $10.0 billion in 2025, then slipped by 8.21% to $9.1 billion in 2026.
  • Per Business Quant data, the three most recent Operating Expenses figures were $9.1 billion in Q1 2026, $10.0 billion in Q4 2025, and $9.2 billion in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Waters 31,055.11 Bn 31,054.65 Bn 1.11 Bn 1.31 Bn
2 Thermo Fisher Scientific 191.02 Bn 187.77 Bn 7.74 Bn 9.14 Bn
3 Danaher 137.16 Bn 131.47 Bn 3.59 Bn 2.25 Bn
4 Idexx Laboratories 42.82 Bn 42.62 Bn 722.74 Mn 360.15 Mn
5 Natera 39.09 Bn 37.99 Bn 696.04 Mn 790.16 Mn
6 Agilent Technologies 37.61 Bn 35.81 Bn 990.00 Mn 1.44 Bn
7 Iqvia Holdings 34.23 Bn 32.25 Bn 1.36 Bn 553.00 Mn
8 Illumina 28.14 Bn 26.98 Bn 721.00 Mn 512.00 Mn
9 Mettler Toledo International 26.40 Bn 26.33 Bn 555.82 Mn 316.87 Mn
10 Quest Diagnostics 23.76 Bn 23.67 Bn 942.00 Mn 2.50 Bn

Historic Data

Download Data
DateValue
Mar 28, 2026 9.14 Bn
Dec 31, 2025 9.96 Bn
Sep 27, 2025 9.18 Bn
Jun 28, 2025 9.02 Bn
Mar 29, 2025 8.65 Bn
Dec 31, 2024 9.38 Bn
Sep 28, 2024 8.76 Bn
Jun 29, 2024 8.72 Bn
Mar 30, 2024 8.68 Bn
Dec 31, 2023 9.03 Bn
Sep 30, 2023 8.71 Bn
Jul 1, 2023 9.11 Bn
Apr 1, 2023 9.15 Bn
Dec 31, 2022 9.59 Bn
Oct 1, 2022 8.97 Bn
Jul 2, 2022 8.97 Bn
Apr 2, 2022 9.00 Bn
Dec 31, 2021 8.16 Bn
Oct 2, 2021 7.05 Bn
Jul 3, 2021 7.11 Bn