TMO FY 2014 Earnings Report — Thermo Fisher Scientific Inc. Revenue & Financial Results | Market Cap Arena

Thermo Fisher Scientific Inc.TMO

FY 2014 Earnings

Reported March 5, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$16.9B	—	$13.1B	—	29.0%
Op. Income	$2.3B	—	$1.8B	—	30.6%
Gross Margin	46.7%	—	43.0%	—	3.7pp
Net Margin	11.2%	—	9.7%	—	1.5pp
EPS (Diluted)	$4.71	—	$3.48	—	35.3%
Free Cash Flow	$2.2B	—	$1.7B	—	26.8%

Revenue Flow

Item	Amount
REVENUE	$16.9B
Cost of Revenue	$9.0B
GROSS PROFIT	$7.9B
R&D Expenses	$691M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$4.8B
Other Expenses	$81M
Operating Expenses	$5.5B
Cost & Expenses	$14.5B
OPERATING INCOME	$2.3B
Interest Income	$48M
Interest Expense	$480M
Other Income/Expenses	-$261M
INCOME BEFORE TAX	$2.1B
Income Tax Expense	$192M
Net Income from Continuing Ops	$1.9B
Net Income from Discontinued Ops	$0
Other Adjustments	-$1M
NET INCOME	$1.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.9B
D&A	$1.7B
EBIT	$2.6B
EBITDA	$4.3B
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$16.9B
Cost of Revenue	$9.0B
GROSS PROFIT	$7.9B
R&D Expenses	$691M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$4.8B
Other Expenses	$81M
Operating Expenses	$5.5B
Cost & Expenses	$14.5B
OPERATING INCOME	$2.3B
Interest Income	$48M
Interest Expense	$480M
Other Income/Expenses	-$261M
INCOME BEFORE TAX	$2.1B
Income Tax Expense	$192M
Net Income from Continuing Ops	$1.9B
Net Income from Discontinued Ops	$0
Other Adjustments	-$1M
NET INCOME	$1.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.9B
D&A	$1.7B
EBIT	$2.6B
EBITDA	$4.3B
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$1.9B
Depreciation & Amortization	$1.7B
Stock-Based Compensation	$117M
Deferred Income Tax	-$744M
Other Non-Cash Items	-$624M
Change in Working Capital	$290M
OPERATING CASH FLOW	$2.6B
Capital Expenditure	-$428M
Acquisitions (Net)	-$11.5B
Purchases of Investments	-$39M
Sales/Maturities of Investments	$89M
Other Investing Activities	$134M
NET CASH FROM INVESTING	-$11.8B
Net Debt Issuance	$1.9B
Common Stock Repurchased	$0
Common Dividends Paid	-$235M
Other Financing Activities	$3.2B
NET CASH FROM FINANCING	$4.8B
FREE CASH FLOW	$2.2B
Net Change in Cash	-$4.5B

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$0
Net Receivables	$2.5B
Inventory	$1.9B
Other Current Assets	$863M
TOTAL CURRENT ASSETS	$6.5B
PP&E (Net)	$2.4B
Goodwill	$18.8B
Intangible Assets	$14.1B
Long-Term Investments	$47M
Tax Assets	$0
Other Non-Current Assets	$886M
TOTAL NON-CURRENT ASSETS	$36.3B
TOTAL ASSETS	$42.9B
Account Payables	$821M
Short-Term Debt	$2.2B
Deferred Revenue	$312M
Other Current Liabilities	$1.2B
TOTAL CURRENT LIABILITIES	$5.3B
Long-Term Debt	$12.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$3.4B
Other Non-Current Liabilities	$1.2B
TOTAL NON-CURRENT LIABILITIES	$17.0B
TOTAL LIABILITIES	$22.3B
Common Stock	$409M
Additional Paid-In Capital	$11.5B
Retained Earnings	$10.4B
Treasury Stock	-$456M
Accum. Other Comp. Income	-$1.3B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$20.5B
Minority Interest	$0
TOTAL EQUITY	$20.5B
TOTAL LIABILITIES & EQUITY	$42.6B
Total Debt	$14.6B
Net Debt	$13.2B