Thermo Fisher Scientific (TMO) Return on Capital Employed [ROCE] (2009 - 2026)
Thermo Fisher Scientific's Return on Capital Employed [ROCE] was 8.30% in Q2 2026, down 0.17 percentage points from 8.47% a year earlier but up 0.18 percentage points from the prior quarter.
Thermo Fisher Scientific (TMO) Return on Capital Employed [ROCE] (2009 - 2026) Analysis & Trends
For FY2025, Return on Capital Employed [ROCE] at Thermo Fisher Scientific came in at 8.74%, up 0.08 percentage points from FY2024.
- Return on Capital Employed [ROCE] shows a five-year change of -5.85 percentage points (FY2020 to FY2025).
- In earlier years, Return on Capital Employed [ROCE] was 8.66% in FY2024 (+0.49 pp), 8.17% in FY2023 (-2.43 pp), 10.61% in FY2022 (-4.00 pp) and 14.61% in FY2021 (+0.02 pp).
- Quarterly Return on Capital Employed [ROCE] has moved between 8.12% (Q1 2026) and 16.79% (Q3 2021) over five years.
- Compared with a year earlier, Return on Capital Employed [ROCE] has declined for three straight quarters, with an average year-over-year change of -0.01 percentage points over the last eight quarters.
- The best year-over-year quarter for Return on Capital Employed [ROCE] over five years was Q3 2021 (a gain of 6.27 percentage points); the worst was Q2 2022 (a drop of 5.93 percentage points).
- Per Business Quant data, TMO's Return on Capital Employed [ROCE] in the three quarters before Q2 2026 was 8.12% (Q1 2026), 8.47% (Q4 2025) and 8.61% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 243.20 Bn | 222.35 Bn | 4.88 Bn | 8.30% |
| 2 | Abbott Laboratories | 172.35 Bn | 143.43 Bn | 7.27 Bn | 7.98% |
| 3 | Danaher | 154.53 Bn | 138.35 Bn | 3.61 Bn | 6.42% |
| 4 | Intuitive Surgical | 150.04 Bn | 129.59 Bn | 1.96 Bn | 18.58% |
| 5 | Medtronic | 113.25 Bn | 79.11 Bn | 6.34 Bn | 8.34% |
| 6 | Stryker | 106.37 Bn | 92.49 Bn | 4.50 Bn | 13.69% |
| 7 | Boston Scientific | 61.94 Bn | 56.95 Bn | 3.85 Bn | 10.83% |
| 8 | Becton Dickinson | 50.05 Bn | 47.20 Bn | 2.32 Bn | 6.00% |
| 9 | Edwards Lifesciences | 49.13 Bn | 33.24 Bn | 1.35 Bn | 11.99% |
| 10 | Agilent Technologies | 48.07 Bn | 40.96 Bn | 1.04 Bn | 14.60% |
Historic Data
| Date | Value |
|---|---|
| Jun 27, 2026 | 8.30% |
| Mar 28, 2026 | 8.12% |
| Dec 31, 2025 | 8.47% |
| Sep 27, 2025 | 8.61% |
| Jun 28, 2025 | 8.47% |
| Mar 29, 2025 | 8.69% |
| Dec 31, 2024 | 8.58% |
| Sep 28, 2024 | 8.46% |
| Jun 29, 2024 | 8.67% |
| Mar 30, 2024 | 8.29% |
| Dec 31, 2023 | 8.18% |
| Sep 30, 2023 | 8.43% |
| Jul 1, 2023 | 8.36% |
| Apr 1, 2023 | 8.92% |
| Dec 31, 2022 | 10.92% |
| Oct 1, 2022 | 11.42% |
| Jul 2, 2022 | 11.95% |
| Apr 2, 2022 | 11.97% |
| Dec 31, 2021 | 14.14% |
| Oct 2, 2021 | 16.79% |
Thermo Fisher Scientific Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=TMO&period=max&api_key=YOUR_API_KEY
import requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=TMO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();