Key Performance Metrics

  • The review of Net Profit Margin witnessed a fluctuating trend. The Net Profit Margin moved from 14.47% in 2019 to 13.99% in 2023.
  • The average EBIT Margin for the period under analysis was 20.62%, with 2019 and 2020 performing the worst and best, respectively.
  • In the current year, THERMO FISHER was able to cover its interest liabilities 5.57 times – compared to 2019 when it was 7.02 times.
  • The Asset turnover stood at 0.45 times in 2023 from 0.45 in 2019, implying a low performance on Assets of the business in relation to revenue. 


  • The revenue of THERMO FISHER has fluctuated year on year. The revenue increased by 26.14% between 2019 and 2020 and a further 14.55% increase was recorded between 2021 and 2022. There also occurred a decrease of4.58% between 2022 and 2023 (the current period).
  • ThermoFisher’s performance in profitability looks good as the return on capital employed also recorded good performance during the period of analysis.


  • The company’s result in liquidity looks fair, as current ratio increased from 1.48:1 to 1.76:1 on the last year. Which implies that the company has enough assets to settle its current liabilities. 

Capital Structure

  • Thermo Fisher is both equity and debt financed.
  • The debt-to-equity (D/E) ratio has been increasing year on year. The gearing position of the company appears to be high as it stood at 75% in the current year.


Source: Thermo Fisher Annual Report

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