TMO Thermo Fisher Scientific margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 66

Gross margin

40.8%

Operating margin

17.6%

EBITDA margin

25.8%

Net margin

15%

Currently, Thermo Fisher Scientific has a gross margin of 40.8%, an operating margin of 17.6%, an EBITDA margin of 25.8%, and a net margin of 15%. Operating margin showed the largest improvement, increasing by 0.5 percentage points. Gross margin saw the largest decline, decreasing by 0.4 percentage points.

TMO margin history

Gross, operating, EBITDA and net margin trends

Thermo Fisher Scientific's margins averaged 40.78% gross, 16.93% operating, 26.21% EBITDA, and 14.71% net during the last 3 years. Against the three-year averages, gross, operating, and net margins are above their three-year averages and EBITDA margin is below its three-year average.

TMO margin expansion

Year-over-year margin changes in percentage points

Operating margin expanded by 0.5 percentage points, but gross margin contracted by 0.4 percentage points, EBITDA margin by 0.3 percentage points, and net margin by 0.2 percentage points.

Gross margin expansion

-0.4pp

Operating margin expansion

0.5pp

EBITDA margin expansion

-0.3pp

Net margin expansion

-0.2pp

TMO Gross margin

Over the last 3 years, the average gross margin for Thermo Fisher Scientific was 40.78%. At present, the current gross margin for Thermo Fisher Scientific is 40.8%, 0 percentage points above its three-year average. Thermo Fisher Scientific's gross margin ranged from a low of 39.9% in Sep 2023 to a high of 41.3% in Sep 2025.

TMO Operating margin

Reviewing the last 3 years, Thermo Fisher Scientific recorded an average operating margin of 16.93%. Thermo Fisher Scientific's current operating margin is 17.6% and is 0.7 percentage points above its three-year average. The highest operating margin for Thermo Fisher Scientific was 17.6% in Jun 2026, while the lowest was 15.8% in Sep 2023.

TMO EBITDA margin

Across the last 3 years, Thermo Fisher Scientific's EBITDA margin came to 26.21%. The current EBITDA margin stands at 25.8%, 0.4 percentage points below its three-year average. EBITDA margin was highest at 27.4% in Jun 2024 and lowest at 25.2% in Sep 2023.

TMO Net margin

In the last 3 years, Thermo Fisher Scientific had an average net margin of 14.71%. Against its three-year average, Thermo Fisher Scientific's net margin is currently 15%, 0.3 percentage points above its three-year average. Looking back over the last 3 years, Thermo Fisher Scientific's net margin reached 15.2% at its highest point in Mar 2026 and 13.7% at its lowest in Sep 2023.

TMO margin group comparison

Margins compared with peer-group, industry and sector averages

Thermo Fisher Scientific's gross margin of 40.8% is below the Healthcare sector, the industry and its peers average. Compared to its Healthcare sector average of 68.5%, Thermo Fisher Scientific's gross margin is 40% lower.

TMO margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Thermo Fisher Scientific's gross margin?

For the period ending Jun 27, 2026, TMO recorded a gross margin of 40.8%.

What is Thermo Fisher Scientific's operating margin?

As of Jun 27, 2026, TMO has an operating margin of 17.6%.

What is Thermo Fisher Scientific's EBITDA margin?

For the period ending Jun 27, 2026, TMO recorded an EBITDA margin of 25.8%.

What is Thermo Fisher Scientific's net margin?

For the period ending Jun 27, 2026, TMO recorded a net margin of 15%.

What are the average margins of TMO?

Across the last 3 years, TMO averaged 40.8% gross, 16.9% operating, 26.2% EBITDA, and 14.7% net.

What are the highest historical margins of TMO?

Over this 5-year history, TMO peaked at 51.1% gross in Oct 2021, 27% operating in Oct 2021, 33% EBITDA in Oct 2021, and 21.9% net in Oct 2021.

What are the lowest historical margins of TMO?

Within the 5-year period, TMO recorded its lowest margins at 39.7% gross in Jul 2023, 15.4% operating in Jul 2023, 24.1% EBITDA in Jul 2023, and 13.1% net in Jul 2023.