赛默飞世尔科技 2025年度报告

Annual Report Our Mission is to enable our customers to make the worldHealthier, CleanerandSafer Our Mission is our purpose:To enable our customers to make the worldhealthier, cleanerandsafer. $22.87, while we generated $6.34 billion of free cashflow.* During the year, we deployed approximately$16.5 billion of capital, including committing $13 billionto M&A and returning $3.6 billion to shareholdersthrough stock buybacks and dividends, with 2025marking the eighth year in a row that we increasedour dividend. To ourshareholders,customersandcolleagues We’ve earned our industry leadership and continueto build on it by executing a proven growth strategythat is designed to create durable value. Our strategyconsists of three key pillars: Thank you for your ongoing support ofThermo Fisher Scientific. Together, we are buildingan even brighter future for our company. I’m proudof what we achieved in 2025 and even more excitedabout the opportunities ahead as we continue toenable science and deliver for our stakeholders. •Delivering high-impact innovation•Deepening our trusted partner status withour customers•Building on our unparalleled commercial engine Everything we do begins with our Mission to enableour customers to make the world healthier, cleanerand safer. This inspires our more than 120,000colleagues to bring their best each day because weknow the work we do helps our customers improvelives around the world. In 2025, we advanced our strategy, becoming evenmore relevant for our customers and enhancing ourcompetitive position. High-impact innovation Our success speaks to the power of our Missionand the purposeful way we manage our company.In 2025, we acted with agility to effectively managethe dynamics of tariffs and policy changes. And,as a trusted partner, we worked closely with ourcustomers to help them navigate the landscape andenable their success. Beginning with the first pillar, in 2025, we invested$1.4 billion in R&D to deliver exciting new technologiesacross our businesses that are enabling ourcustomers to accelerate breakthroughs and enhancetheir productivity. I’ll touch on just a few of the manygreat examples. Excellent operational performance As a result, we delivered excellent operationalperformance. In 2025, our revenue increased 4% to$44.56 billion, GAAP diluted earnings per share (EPS)grew 7% to $17.74 and adjusted EPS* grew 5% to Marc N. Casper Chairman and CEO *Adjusted EPS and free cash flow are non-GAAP financial measures.For a reconciliation of these non-GAAP measures to comparable GAAPmeasures, see pages 6 and 7 of this annual report. Strong trackrecord ofperformance In chromatography and mass spectrometry, the yearwas highlighted by the launch of our Thermo Scientific™Orbitrap™Astral™Zoom Mass Spectrometer. Buildingon the success of the Astral mass spectrometer,Astral Zoom delivers even greater sensitivity, speedand depth of coverage, enabling researchers touncover new biological insights and advance precisionmedicine. This platform represents a significant leapforward in mass spectrometry, enabling researchersaround the world to accelerate discovery and advancethe pace of scientific breakthroughs. In bioproduction, we expanded our single-useportfolio with the launch of the Thermo Scientific™5L DynaDrive™Single-Use Bioreactor, offeringpharma and biotech customers increased workflowefficiencies and the ability to seamlessly scale upmanufacturing of new therapies. In electron microscopy, we delivered a series ofoutstanding innovations across life sciences andadvanced materials. This included the Thermo Scientific™Krios™5 Cryo-TEM, which is advancing structuralbiology by enabling faster, higher-resolution insightsto support drug discovery and development. Wealso launched the Thermo Scientific™Helios™MX1Plasma Focused Ion Beam SEM, a fully automatedsemiconductor analysis system designed to acceleratetime-to-data for yield ramp and fab process control. In clinical next-generation sequencing, it was greatto see the growing application of our technologyto support precision oncology. For example, ourOncomine™Dx Express Test on the Ion Torrent™Genexus™Dx Integrated Sequencer was approvedby the U.S. Food and Drug Administration (FDA) asa companion diagnostic for a targeted treatment fornon-small-cell lung cancer and in tumor profiling. In clinical diagnostics, we also received FDA 510(k)clearance for our EXENT™System, a first-of-its-kindautomated platform that enables earlier and moreconfident diagnoses for patients with multiple myelomaand related disorders. It was another year of truly remarkable innovation, andI’m excited about the pipeline of launches we have for2026 and beyond. Revenue Profile Our trusted partner status and unparalleledcommercial engine Our trusted partner status with customers has beenbuilt over many years by anticipating, understandingand meeting their needs. During the year, wecontinued to deepen our trusted partner status andstrengthen our industry