Thermo Fisher Scientific (TMO) Research & Development (2009 - 2026)
Thermo Fisher Scientific's Research & Development was $364 million in Q2 2026, up 3.4% from $352 million a year earlier and up 8.3% from the prior quarter.
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Analysis
Thermo Fisher Scientific (TMO) Research & Development (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Thermo Fisher Scientific's Research & Development was $1.4 billion through Jun 27, 2026, down 0.8% year-over-year; for FY2025, it was $1.4 billion, up 0.5% from FY2024.
- Research & Development shows a five-year compound annual growth rate of 3.4% (FY2020 to FY2025).
- In earlier years, Research & Development was $1.39 billion in FY2024 (+4.0%), $1.34 billion in FY2023 (-9.1%), $1.47 billion in FY2022 (+4.6%) and $1.41 billion in FY2021 (+19.1%).
- The Q2 2026 figure marks the highest quarterly Research & Development since Q4 2024.
- Compared with a year earlier, Research & Development was higher in five of the last eight quarters, with growth averaging 3.4%.
- The best year-over-year quarter for Research & Development over five years was Q3 2021 (growth of 18.6%); the worst was Q4 2023 (a decline of 16.4%).
- Per Business Quant data, TMO's Research & Development in the three quarters before Q2 2026 was $336 million (Q1 2026), $356 million (Q4 2025) and $346 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 243.20 Bn | 222.35 Bn | 4.88 Bn | 364.00 Mn |
| 2 | Abbott Laboratories | 172.35 Bn | 143.43 Bn | 7.27 Bn | 892.00 Mn |
| 3 | Danaher | 154.53 Bn | 138.35 Bn | 3.61 Bn | 412.00 Mn |
| 4 | Intuitive Surgical | 150.04 Bn | 129.59 Bn | 1.96 Bn | 370.60 Mn |
| 5 | Medtronic | 113.25 Bn | 79.11 Bn | 6.34 Bn | 771.00 Mn |
| 6 | Stryker | 106.37 Bn | 92.49 Bn | 4.50 Bn | 434.00 Mn |
| 7 | Boston Scientific | 61.94 Bn | 56.95 Bn | 3.85 Bn | 554.00 Mn |
| 8 | Becton Dickinson | 50.05 Bn | 47.20 Bn | 2.32 Bn | 258.00 Mn |
| 9 | Edwards Lifesciences | 49.13 Bn | 33.24 Bn | 1.35 Bn | 278.90 Mn |
| 10 | Agilent Technologies | 48.07 Bn | 40.96 Bn | 1.04 Bn | 123.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 27, 2026 | 364.00 Mn |
| Mar 28, 2026 | 336.00 Mn |
| Dec 31, 2025 | 356.00 Mn |
| Sep 27, 2025 | 346.00 Mn |
| Jun 28, 2025 | 352.00 Mn |
| Mar 29, 2025 | 342.00 Mn |
| Dec 31, 2024 | 374.00 Mn |
| Sep 28, 2024 | 346.00 Mn |
| Jun 29, 2024 | 339.00 Mn |
| Mar 30, 2024 | 331.00 Mn |
| Dec 31, 2023 | 327.00 Mn |
| Sep 30, 2023 | 319.00 Mn |
| Jul 1, 2023 | 345.00 Mn |
| Apr 1, 2023 | 346.00 Mn |
| Dec 31, 2022 | 391.00 Mn |
| Oct 1, 2022 | 351.00 Mn |
| Jul 2, 2022 | 365.00 Mn |
| Apr 2, 2022 | 364.00 Mn |
| Dec 31, 2021 | 392.00 Mn |
| Oct 2, 2021 | 351.00 Mn |
API Access
Thermo Fisher Scientific Research & Development 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=research-and-development&ticker=TMO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "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=research-and-development&ticker=TMO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();