Thermo Fisher Scientific’s Gross Profit by Segment (2016-2022)

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This statistic highlights Thermo Fisher Scientific’s Gross Profit by Segment, split between products and services segments, reported on a quarterly basis from Q1 2016 onwards.
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This statistic highlights Thermo Fisher Scientific’s Gross Profit by Segment, split between products and services segments, reported on a quarterly basis from Q1 2016 onwards.

Thermo Fisher Scientific’s Gross Profit by Segment

The following table highlights Thermo Fisher Scientific’s segment-wise gross profit earned for Q3 2021, Q2 2021, and Q3 2020.

Gross Profit by Segment  Q3 2020 Q2 2021 Q3 2021  Contribution in Q3 2021
Products $3,781 $3,862 $4,062 87.34%
Services $550 $662 $589 12.66%
Total $4,331 $4,524 $4,651 100.00%

(All figures in millions, except percentages)

The majority of the company’s gross profit comes from the sales of its products. Its product’s gross earnings increased from $3,781 million in Q3 2020 to $4,062 million in Q3 2021, marking an upsurge of 7.43% on a QoQ basis. While its service revenue increased from $550 million in Q3 2020 to $589 million in Q3 2021, marking a 7.09% increase on a QoQ basis.

The company operates through its four reportable segments namely Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Biopharma Services.

Life Sciences Solutions

This segment offers a comprehensive portfolio of instruments, reagents, and consumables that are primarily employed in medical and biological research, diagnosis of infection and disease, and discovery and production of new drugs and vaccines. Products and services included under this segment are used by customers working in biotechnology, pharmaceutical, agriculture, healthcare, academic, clinical, and government markets. Life Sciences Solutions comprises four primary businesses, namely –

  • Biosciences
  • Genetic Sciences
  • Clinical Next-Generation Sequencing
  • BioProduction.

Analytical Instruments

This segment offers a wide range of consumables, instruments, software, and services that are used for a variety of applications in the laboratory, field as well as on production line. These products and services are employed by users working in the field of biotechnology, medicine, government, academics, environmental research, industrial markets, and clinical laboratories. The analytical instruments segment comprises three primary businesses, namely –

  • Chromatography and Mass Spectrometry
  • Chemical Analysis
  • Materials and Structural Analysis

Specialty Diagnostics

This segment provides a broad range of diagnostic test kits, culture media, reagents, instruments, and related products. These products are mainly utilized to improve patient care in a cost-effective manner by increasing the accuracy and speed of diagnoses. These are primarily used by customers operating in the sector of healthcare, pharmaceutical, clinical, industrial, and food safety laboratories. Specialty Diagnostics comprises five primary businesses, namely –

  • Clinical Diagnostics
  • ImmunoDiagnostics
  • Microbiology
  • Transplant Diagnostics and Healthcare Market Channel.

Laboratory Products and Biopharma Services

Formerly name being Laboratory Products and Services. This segment acts as a one-stop shop for almost everything required for a laboratory, along with a variety of sourced and self-manufactured products. Furthermore, it includes a wide range of outsourced services employed by biotech and pharmaceutical industries for clinical trial logistics, drug development, and commercial drug manufacturing. It assists customers to concentrate on their core operations alongside helping them to be more productive, cost-effective, and efficient. These are used by the customers operating in research, pharmaceutical, biotechnology, government, academic, medical device, and industrial markets. Laboratory Products and Biopharma Services comprises five primary businesses, namely –

  • Laboratory Products
  • Laboratory Chemicals
  • Research and Safety Market Channel
  • Pharma Services
  • Clinical Research.

About the Company

Founded in 1956, the company is a leading provider of Scientific instruments, Software Services, Reagents, and Consumables. Thermo Fisher Scientific Inc was formed in 2006 through the merger of Thermo Electron and Fisher Scientific. The company’s headquarters is located in Waltham, Massachusetts. The company’s mission is to foster its customers to make the world safer, healthier, and cleaner. It serves customers working in the food safety, clinical, academic, research, pharmaceutical, biotechnology, government, healthcare, medical device, and industrial markets. Mainly in the regions of North America, Europe, Asia Pacific, and others. Its common stock is traded on New York Stock Exchange “NYSE” under the ticker symbol “TMO”.

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