Thermo Fisher Scientific Reports Q2 FY2023 Earnings Results on July 26, 2023
August 17, 2023
🌥️Earnings Overview
THERMO FISHER SCIENTIFIC ($NYSE:TMO) reported total revenue of USD 10.7 billion for its FY2023 second quarter on June 30, 2023, representing a 2.6% decrease compared to the same period last year. Net income also decreased by 18.1%, amounting to USD 1.4 billion. These results were officially released on July 26.
Share Price
On Wednesday, July 26, 2023, Thermo Fisher Scientific (TMO) reported its Q2 FY2023 earnings results. The company’s stock opened at $555.0 and closed at $574.4, up by 0.6% from its previous closing price of 570.9. Overall, the company’s strong financial results demonstrate its resilience and growth potential despite challenging market conditions. Management has expressed confidence in its ability to continue delivering solid results in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for TMO. More…
| Total Revenues | Net Income | Net Margin |
| 43.52k | 5.72k | 14.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for TMO. More…
| Operations | Investing | Financing |
| 7.69k | -4.66k | -1.81k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for TMO. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 94.11k | 50.19k | 113.36 |
Key Ratios Snapshot
Some of the financial key ratios for TMO are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 18.4% | 15.7% | 16.6% |
| FCF Margin | ROE | ROA |
| 13.5% | 10.5% | 4.8% |
Analysis
At GoodWhale, we conducted an analysis of Thermo Fisher Scientific’s wellbeing and have concluded that it is a medium risk investment in terms of financial and business aspects. This conclusion was based on our Risk Rating. We also detected one risk warning in the balance sheet, which you can explore further by registering on our website. We believe that the company has the potential to be a good investment if managed properly and that any risks should be taken into account in order to ensure a positive return. Ultimately, we recommend taking the time to thoroughly research the company before investing to ensure that the investment is sound. More…
Peers
In the world of scientific research, Thermo Fisher Scientific Inc is a giant. They are a leading provider of laboratory equipment and services, and their products are used in a wide range of industries. They have a strong presence in the United States, Europe, and Asia, and their competitors are Yourgene Health PLC, Thyrocare Technologies Ltd, Agilent Technologies Inc. All three companies are similar in that they provide scientific research products and services, but each has its own strengths and weaknesses.
– Yourgene Health PLC ($LSE:YGEN)
Yourgene Health PLC is a molecular diagnostics company. The company offers genetic testing services for a range of conditions, including cancer, cardiovascular disease, and inherited disorders. Yourgene Health PLC has a market cap of 29.99M as of 2022 and a Return on Equity of -5.02%. The company’s products and services are used by healthcare professionals, patients, and research institutions worldwide.
– Thyrocare Technologies Ltd ($BSE:539871)
Thyrocare Technologies Ltd. is an Indian in-vitro diagnostics company that offers services in more than 1,200 towns and cities across India. It has a network of over 2,000 collection centres and over 5,000 authorised diagnostic centres. The company was founded in 1996 and has its headquarters in Mumbai, India.
Thyrocare Technologies Ltd. has a market cap of 34.57B as of 2022. The company’s Return on Equity is 21.9%.
Thyrocare Technologies Ltd. is an Indian in-vitro diagnostics company that offers services in more than 1,200 towns and cities across India. It has a network of over 2,000 collection centres and over 5,000 authorised diagnostic centres. The company was founded in 1996 and has its headquarters in Mumbai, India.
– Agilent Technologies Inc ($NYSE:A)
Agilent Technologies is a publicly traded company with a market capitalization of $38.18 billion as of 2022. The company’s return on equity for the same year was 19.27%. Agilent Technologies is a global leader in life sciences, diagnostics, and applied chemical markets. The company provides products and services that enable customers to make discoveries and accelerate the pace of innovation in their laboratories and businesses. Agilent’s products and services are used in a wide range of applications, including genomics, proteomics, drug discovery, forensics, food safety, and environmental monitoring.
Summary
Thermo Fisher Scientific reported a 2.6% decrease in total revenue and an 18.1% decrease in net income for the second quarter of FY2023. This indicates a short-term financial hardship for the company which could make it an attractive investment opportunity. Investors should consider carefully the strengths and weaknesses of the company’s financial position, management team, competitive environment, and long-term prospects to determine if it is a good fit for their portfolio. In addition, they must consider the potential impact of the current economic climate on the sector as a whole.
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