Thermo Fisher Scientific (TMO) Return on Invested Capital [ROIC] (2009 - 2026)
Thermo Fisher Scientific's Return on Invested Capital [ROIC] was 7.89% in Q2 2026, down 0.31 percentage points from 8.21% a year earlier but up 0.08 percentage points from the prior quarter.
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Analysis
Thermo Fisher Scientific (TMO) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For FY2025, Return on Invested Capital [ROIC] at Thermo Fisher Scientific came in at 8.25%, up 0.07 percentage points from FY2024.
- Return on Invested Capital [ROIC] shows a five-year change of -5.01 percentage points (FY2020 to FY2025).
- In earlier years, Return on Invested Capital [ROIC] was 8.19% in FY2024 (+0.01 pp), 8.18% in FY2023 (-1.73 pp), 9.91% in FY2022 (-3.38 pp) and 13.29% in FY2021 (+0.02 pp).
- Quarterly Return on Invested Capital [ROIC] has moved between 7.78% (Q3 2024) and 15.79% (Q3 2021) over five years.
- Compared with a year earlier, Return on Invested Capital [ROIC] has declined for three straight quarters, with an average year-over-year change of -0.06 percentage points over the last eight quarters.
- The best year-over-year quarter for Return on Invested Capital [ROIC] over five years was Q3 2021 (a gain of 5.40 percentage points); the worst was Q2 2022 (a drop of 5.31 percentage points).
- Per Business Quant data, TMO's Return on Invested Capital [ROIC] in the three quarters before Q2 2026 was 7.81% (Q1 2026), 7.98% (Q4 2025) and 8.04% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 257.79 Bn | 234.30 Bn | 5.13 Bn | 8.02% |
| 2 | Abbott Laboratories | 190.83 Bn | 164.70 Bn | 7.39 Bn | 5.70% |
| 3 | Danaher | 162.10 Bn | 141.75 Bn | 3.84 Bn | 5.83% |
| 4 | Intuitive Surgical | 158.05 Bn | 138.34 Bn | 2.08 Bn | - |
| 5 | Medtronic | 130.31 Bn | 95.56 Bn | 6.34 Bn | 6.90% |
| 6 | Stryker | 124.76 Bn | 110.95 Bn | 4.25 Bn | 9.95% |
| 7 | Boston Scientific | 62.03 Bn | 57.46 Bn | 3.43 Bn | 9.94% |
| 8 | Edwards Lifesciences | 58.73 Bn | 41.94 Bn | 1.35 Bn | 8.68% |
| 9 | Becton Dickinson | 58.33 Bn | 55.48 Bn | 2.32 Bn | 5.27% |
| 10 | Agilent Technologies | 49.29 Bn | 42.18 Bn | 1.04 Bn | 13.07% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 26, 2026 | 8.02% |
| Jun 27, 2026 | 7.89% |
| Mar 28, 2026 | 7.81% |
| Dec 31, 2025 | 7.98% |
| Sep 27, 2025 | 8.04% |
| Jun 28, 2025 | 8.21% |
| Mar 29, 2025 | 8.39% |
| Dec 31, 2024 | 8.06% |
| Sep 28, 2024 | 7.78% |
| Jun 29, 2024 | 8.02% |
| Mar 30, 2024 | 7.87% |
| Dec 31, 2023 | 8.07% |
| Sep 30, 2023 | 8.22% |
| Jul 1, 2023 | 8.22% |
| Apr 1, 2023 | 8.53% |
| Dec 31, 2022 | 10.10% |
| Oct 1, 2022 | 11.32% |
| Jul 2, 2022 | 11.62% |
| Apr 2, 2022 | 11.56% |
| Dec 31, 2021 | 12.88% |
API Access
Thermo Fisher Scientific Return on Invested Capital [ROIC] 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-invested-capital-%5Broic%5D&ticker=TMO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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-invested-capital-%5Broic%5D&ticker=TMO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();