Thermo Fisher Scientific Inc. (NYSE: TMO) has reported its financial results for the fourth quarter and full year ending December 31, 2025. The company's revenue for the fourth quarter grew by 7% to $12.21 billion, up from $11.40 billion in the same quarter of 2024. Additionally, the full-year revenue increased by 4% to $44.56 billion, compared to $42.88 billion in 2024.
In the fourth quarter of 2025, Thermo Fisher Scientific's GAAP diluted earnings per share (EPS) grew by 9% to $5.21, while the adjusted EPS increased by 8% to $6.57. For the full year, the GAAP diluted EPS grew by 7% to $17.74, and the adjusted EPS rose by 5% to $22.87.
The company's GAAP operating income for the fourth quarter of 2025 was $2.26 billion, marking a 12% increase from the year-ago quarter. The GAAP operating margin was 18.5%, compared to 17.7% in the fourth quarter of 2024. On a non-GAAP basis, the adjusted operating income for the same period was $2.88 billion, representing a 6% increase from the year-ago quarter, with an adjusted operating margin of 23.6%, slightly down from 23.9% in the fourth quarter of 2024.
Looking at the full year, Thermo Fisher Scientific's GAAP operating income increased by 6% to $7.75 billion, with a GAAP operating margin of 17.4%, up from 17.1% in 2024. The non-GAAP adjusted operating income for the full year was $10.11 billion, reflecting a 4% increase from 2024, and the adjusted operating margin was 22.7%, compared to 22.6% in 2024.
Despite the challenging external environment, Thermo Fisher Scientific's performance has been attributed to its active management of the company, the strength of its growth strategy, and the effectiveness of its PPI business system. The company has also launched a range of innovative products, expanded its commercial engine, and continued to execute its capital deployment strategy, deploying approximately $16.5 billion in 2025, including $13 billion committed to M&A.
The company's annual guidance for 2026 is expected to be provided during its earnings conference call. Thermo Fisher Scientific's mission is to enable its customers to make the world healthier, cleaner, and safer, and it aims to continue delivering value to stakeholders and building a brighter future for the company.
Thermo Fisher Scientific will hold its earnings conference call on January 29, 2026, at 8:30 a.m. Eastern Time, during which the company will discuss its financial performance and future expectations. The call will be webcast live on the "Investors" section of the company's website. Following these announcements, the company's shares moved -0.95%, and are now trading at a price of $618.72. For the full picture, make sure to review THERMO FISHER SCIENTIFIC INC.'s 8-K report.
