Thermo Fisher Scientific (TMO)财务
NYSE · Healthcare · Medical - Diagnostics & Research · 员工125,000人 · CEO Marc N. Casper
- 股价
- $697.00 -1.72%
- 市值
- $2580亿
- 企业价值
- $2940亿
- 最近财报
- Q3 '26 2026-10-30提交
- 下次财报
- 2027-02-04 EPS预期 $7.13
营收(TTM)$474亿+8.3% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)18.0%-0.5 百分点 对比去年同期营业利润 $85.2亿
净利润(TTM)$70.8亿+7.8% 对比去年同期税后,含营业外收益
自由现金流(TTM)$76亿+24.3% 对比去年同期资本支出 $17.3亿
稀释EPS(TTM)$18.96+9.5% 对比去年同期最近4个季度之和
净现金-$353亿-9.9% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $2580亿 EV $2940亿
- 营收
- $474亿 过去12个月
- 营收增速
- +8% FY2026年一致预期
- 净利润率
- 15.0% 净利润 / 营收,TTM
- P/E
- 36.7× 预期 27.6×(FY2026)
- P/S
- 5.4× 股价 / 营收,TTM
- EV / EBITDA
- 26.1× TTM
- 自由现金流
- $76亿 过去12个月
- 净利润
- $70.8亿 过去12个月
- 营收预期
- $480亿 FY2026年一致预期
- 盈利
- 2027-02-04 营收预期 $128亿
- 股息
- $1.84 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-21):营收超预期1.5%,EPS 超预期4.4%营收$121亿,预期$120亿(+1.5%);EPS $6.68,预期$6.40(+4.4%)。
- 营收增长加速:同比9.1%Q3 '26营收$121亿,此前四个季度的平均值为7.2%。
- 营业利润率18.0%(TTM),较去年同期-0.5 百分点营收增长8.3%,营业利润增长5.1%。
- 资本支出占营收的3.6%(去年为3.5%)最近4个季度投入$17.3亿(同比+12.2%)。自由现金流$76亿,相当于净利润的107.2%。
- 股东回报$76.7亿 = 自由现金流的101.0%回购$70亿(去年为$10亿),股息$6.73亿,股权激励$8400万(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内减少1.9%Q3 '26稀释股数3.71亿,一年前为3.78亿。
- 净债务 $353亿现金 + 短期投资 $60.6亿,含租赁债务 $414亿;一年前净债务 $321亿。
- Laboratory Products And Biopharma Services:营收+15.1%,利润率15.6%(此前为14.6%)Q3 '26增长最快的披露分部:营收$68.2亿,营业利润$10.7亿(来自财报的分部附注)。
上一季度:Q3 '26
截至2026-09-26的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $121亿 | $111亿 | +9.1% |
| 毛利率 | 42.8% | 41.2% | +1.6 百分点 |
| 营业利润 | $22.6亿 | $20.8亿 | +9.1% |
| 营业利润率 | 18.6% | 18.7% | 0.0 百分点 |
| 净利润 | $17.2亿 | $16.2亿 | +6.5% |
| 稀释EPS | $4.64 | $4.27 | +8.7% |
| 经营现金流 | $25.5亿 | $22.4亿 | +13.9% |
| 资本支出 | $4.37亿 | $4.04亿 | +8.2% |
| 自由现金流 | $21.1亿 | $18.4亿 | +15.1% |
| R&D | $3.48亿 | $3.47亿 | +0.3% |
| 股权激励费用 | $0 | $0 | – |
实际 vs 一致预期
2026-10-21| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $121亿 | $120亿 | +1.5% |
| EPS(一致预期口径) | $6.68 | $6.40 | +4.4% |
来自2026-10-21发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Product revenues | – | – | – | – | – | |
| Product | $67.5亿 | – | 35.7% | – | – | |
| Service | $53.8亿 | +16.2% | 28.5% | – | – | |
| Services | – | – | – | – | – | |
| Consumables | – | – | – | – | – | |
| Product, Consumables | $48.7亿 | – | 25.8% | – | – | |
| Instruments | – | – | – | – | – | |
| Product, Instruments | $18.8亿 | – | 10.0% | – | – |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $62.7亿 | +10.1% | 51.6% | $242亿 | +6.3% | |
| Europe | $32亿 | +6.5% | 26.4% | $128亿 | +13.1% | |
| Asia Pacific | $22.4亿 | +11.3% | 18.5% | $85.9亿 | +7.1% | |
| All Other Countries | $4.3亿 | +3.6% | 3.5% | $16.9亿 | +7.6% |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Laboratory Products And Biopharma Services | $68.2亿 | +15.1% | $10.7亿 | +22.9% | 15.6% | 14.6% | $37.1亿 |
| Laboratory Products And Biopharma Services Segment | – | – | – | – | – | – | – |
| Laboratory Productsand Services | – | – | – | – | – | – | – |
| Life Sciences Solutions | $22.8亿 | +3.9% | $10.2亿 | +5.6% | 44.8% | 44.1% | $40.6亿 |
| Analytical Instruments | $19.5亿 | +5.5% | $5.38亿 | +25.4% | 27.6% | 23.2% | $19亿 |
| Specialty Diagnostics | $10.9亿 | -5.5% | $3.41亿 | +6.2% | 31.3% | 27.8% | $13.1亿 |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $93.2亿
- 资本支出
- -$17.3亿
- 股票回购
- -$70亿
- 股息
- -$6.73亿
- 收购
- -$88.5亿
- 债务净发行
- $38.9亿
- 股权激励费用
- $8400万
- 自由现金流
- $76亿
- 股东回报 / FCF
- 101.0%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 36.7× | 32.6× | 31.1× – 34.2× |
| EV / EBITDA | 26.1× | 21.3× | 19.3× – 24.6× |
| EV / 营收 | 6.2× | 5.8× | 5.3× – 7.5× |
| 股价 / FCF | 33.9× | 32.0× | 27.3× – 37.4× |
| 股价 / 净资产 | 4.7× | 4.8× | 4.0× – 6.4× |
| FCF收益率 | 2.9% | 3.2% | 2.7% – 3.7% |
| 投入资本回报率 | 7.5% | 8.7% | 7.6% – 10.7% |
| 净资产收益率 | 13.3% | 14.6% | 12.6% – 18.9% |
分析师
一致目标价 $694.27 (-0.4%)
区间 $520.00 – $800.00 · 评级 Buy
强烈买入0
买入36
持有7
卖出0
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $480亿 | +7.7% | $25.28 | +42.5% | 27.6× | 15 |
| FY2027 | $506亿 | +5.3% | $27.73 | +9.7% | 25.1× | 16 |
| FY2028 | $538亿 | +6.3% | $30.61 | +10.4% | 22.8× | 6 |
| FY2029 | $572亿 | +6.4% | $33.83 | +10.5% | 20.6× | 3 |
| FY2030 | $591亿 | +3.3% | $37.02 | +9.4% | 18.8× | 2 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Thermo Fisher Scientific Inc.在近期10-Q / 10-K文件中标记的全部325项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| $4.63亿 | -$3000万 | +1,643.3% | – | – | – | |
| 6.8% | -1.1% | +718.2% | – | – | – | |
| Accounts Payable, Current | $30.9亿 | $31.2亿 | -1.1% | $36.2亿 | $30.8亿 | +17.6% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $96.3亿 | $89.1亿 | +8.0% | $89亿 | $81.9亿 | +8.7% |
| Accounts Receivable, Allowance for Credit Loss, Current | $1.35亿 | $1.55亿 | -12.9% | $1.47亿 | $1.73亿 | -15.0% |
| Accrual for Environmental Loss Contingencies | $8600万2025-12-31 | $8100万 | +6.2% | $8600万 | $8100万 | +6.2% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $78.2亿2025-12-31 | $67.5亿 | +15.7% | $78.2亿 | $67.5亿 | +15.7% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$22.6亿 | -$28亿 | +19.2% | -$24.5亿 | -$27亿 | +9.2% |
| Additional Paid in Capital, Common Stock | $192亿 | $183亿 | +5.0% | $186亿 | $180亿 | +3.3% |
| Alternative Investment | $6400万2025-12-31 | $4000万 | +60.0% | $6400万 | $4000万 | +60.0% |
| Amortization of Intangible Assets | $5.18亿 | $4.35亿 | +19.1% | $17.3亿 | $19.5亿 | -11.4% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 200万 | 300万 | -33.3% | 300万 | 200万 | +50.0% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $9500万 | $7000万 | +35.7% | $3.1亿 | $3.01亿 | +3.0% |
| Assets | $1140亿 | $1030亿 | +10.9% | $1100亿 | $973亿 | +13.4% |
| Assets, Current | $256亿 | $223亿 | +14.9% | $287亿 | $221亿 | +29.7% |
| Assets, Fair Value Disclosure | $38.4亿 | – | – | $82.9亿 | $34亿 | +143.8% |
| Business Combination, Contingent Consideration, Asset | $0 | $6500万 | -100.0% | – | – | – |
| Business Combination, Contingent Consideration, Liability | $1.19亿 | $0 | – | $02023-12-31 | $0 | – |
| Capital Expenditures Incurred but Not yet Paid | -$700万 | -$4300万 | +83.7% | $2.64亿 | $3.03亿 | -12.9% |
| Cash and Cash Equivalents, at Carrying Value | $54.6亿 | $19.8亿 | +175.5% | $98.5亿 | $40.1亿 | +145.7% |
| Cash and Cash Equivalents, Fair Value Disclosure | $25.1亿 | – | – | $69.1亿 | $11亿 | +526.2% |
| Cash Surrender Value, Fair Value Disclosure | $3.13亿 | – | – | $2.8亿 | $2.4亿 | +16.7% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $54.9亿 | $20.1亿 | +173.2% | $98.8亿 | $40.4亿 | +144.5% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $14亿 | -$25.9亿 | +153.9% | $58.4亿 | -$40.6亿 | +243.9% |
| Common Stock, Capital Shares Reserved for Future Issuance | 3600万2025-12-31 | 3700万 | -2.7% | 3600万 | 3700万 | -2.7% |
| Common Stock, Dividends, Per Share, Declared | $0.47 | $0.43 | +9.3% | $1.72 | $1.56 | +10.3% |
| Common Stock, Par or Stated Value Per Share | $1.00 | $1.00 | 0.0% | $1.00 | $1.00 | 0.0% |
| Common Stock, Shares Authorized | 12亿 | 12亿 | 0.0% | 12亿 | 12亿 | 0.0% |
| Common Stock, Shares, Issued | 4.47亿 | 4.45亿 | +0.4% | 4.45亿 | 4.44亿 | +0.3% |
| Common Stock, Value, Issued | $4.47亿 | $4.45亿 | +0.4% | $4.45亿 | $4.44亿 | +0.2% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $700万 | $400万 | +75.0% | $1700万 | -$400万 | +525.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $19.2亿 | $16.1亿 | +18.9% | $69.5亿 | $68.6亿 | +1.3% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $19.2亿 | $16.2亿 | +19.1% | $69.7亿 | $68.6亿 | +1.6% |
| Contract with Customer, Asset, after Allowance for Credit Loss, Current | $16.9亿 | $16.2亿 | +4.4% | $16.7亿 | $14.4亿 | +16.1% |
| Contract with Customer, Asset, after Allowance for Credit Loss, Noncurrent | $0 | $100万 | -100.0% | $100万 | $600万 | -83.3% |
| Contract with Customer, Liability, Current | $29.4亿 | $28.5亿 | +3.1% | $27.1亿 | $28.5亿 | -5.0% |
| Contract with Customer, Liability, Noncurrent | $10.8亿 | $11.6亿 | -6.5% | $11.8亿 | $11.4亿 | +4.0% |
| Contract with Customer, Liability, Revenue Recognized | $3.6亿 | $4.1亿 | -12.2% | – | – | – |
| Costs and Expenses | $98.7亿 | $91.8亿 | +7.5% | $368亿 | $355亿 | +3.6% |
| Current Federal Tax Expense (Benefit) | – | – | – | $4.02亿 | $5.61亿 | -28.3% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $6.58亿 | $11.8亿 | -44.0% |
| Current Income Tax Expense (Benefit) | – | – | – | $11.9亿 | $18.7亿 | -36.4% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $1.26亿 | $1.3亿 | -3.1% |
| Debt Instrument, Fair Value Disclosure | $369亿 | $331亿 | +11.7% | $366亿 | $285亿 | +28.3% |
| Debt Instrument, Unamortized Discount (Premium), Net | $8500万 | $9500万 | -10.5% | $9400万 | $9500万 | -1.1% |
| Debt Issuance Costs, Net | $2.12亿 | $1.65亿 | +28.5% | $1.94亿 | $1.64亿 | +18.3% |
| Debt, Current | $22.6亿 | $38.2亿 | -40.8% | $35.3亿 | $22.1亿 | +59.6% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$3.85亿 | -$10.3亿 | +62.5% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$2.21亿 | -$7200万 | -206.9% |
| Deferred Income Tax Expense (Benefit) | -$2.1亿 | -$1.27亿 | -65.4% | -$6.39亿 | -$12.1亿 | +47.1% |
| Deferred Income Tax Liabilities, Net | $14.7亿 | $8.42亿 | +74.9% | $14.9亿 | $12.7亿 | +17.7% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$3400万 | -$1.11亿 | +69.4% |
| Deferred Tax Asset, Interest Carryforward | $33.7亿2025-12-31 | $5.34亿 | +530.1% | $33.7亿 | $5.34亿 | +530.1% |
| Deferred Tax Assets, Gross | $38.1亿2025-12-31 | $7.05亿 | +440.6% | $38.1亿 | $7.05亿 | +440.6% |
| Deferred Tax Assets, in Process Research and Development | $3.72亿2025-12-31 | $5.36亿 | -30.6% | $3.72亿 | $5.36亿 | -30.6% |
| Deferred Tax Assets, Inventory | $2.93亿2025-12-31 | $3.09亿 | -5.2% | $2.93亿 | $3.09亿 | -5.2% |
| Deferred Tax Assets, Net of Valuation Allowance | $2.49亿2025-12-31 | – | – | $2.49亿 | – | – |
| Deferred Tax Assets, Other | -$3.46亿2025-12-31 | $1.47亿 | -335.4% | -$3.46亿 | $1.47亿 | -335.4% |
| Deferred Tax Assets, Other Tax Carryforwards | $36.6亿2025-12-31 | $29.2亿 | +25.6% | $36.6亿 | $29.2亿 | +25.6% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | $3.21亿2025-12-31 | $3.18亿 | +0.9% | $3.21亿 | $3.18亿 | +0.9% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-26, 10-Q 2026-06-27, 10-Q 2026-03-28, 10-K 2025-12-31, 10-Q 2025-09-27, 10-Q 2025-06-28, 10-Q 2025-03-29, 10-K 2024-12-31, 10-Q 2024-09-28
数据截至 2026-11-01