Thermo Fisher Scientific
| Basis | Payout | Why |
|---|---|---|
| GAAP earnings | 9.7% | whyThe figure most screeners publish. |
| Operating cash flow | 8.1% | whyBefore capital spending. |
| Free cash flow | 10.1% | whyAfter maintaining the business. |
2 points between highest and lowest basis.
Coverage rating 63 / 100 — Adequate. ? Peer standing 40/50Direction 10/30Stability 13/20
Free cash flow payout, last 6 years
| Fiscal year | Payout |
|---|---|
| 2025-12-31 | 10.1% |
| 2024-12-31 | 8.0% |
| 2023-12-31 | 7.6% |
| 2022-12-31 | 6.6% |
| 2021-12-31 | 5.8% |
| 2020-12-31 | 4.9% |
Coverage has deteriorated three years running, 6.6% to 10.1%. Still covered, but moving the wrong way.
81% of the 74 industrials here pay out more — comfortable for the sector.
The arithmetic
- GAAP earnings — dividends declared per share $1.72 ÷ diluted EPS $17.74
- Operating cash flow — dividends paid $636m ÷ operating cash flow $7,818m
- Free cash flow — dividends paid $636m ÷ (operating cash flow $7,818m − capex $1,525m)
Where the figures came from
- 10-K filed 2026-02-26 · accession 0000097745-26-000018
Every one is public at sec.gov and free to check. That is the point — you should not have to take our word for any of it.
Computed by an open pipeline reading SEC XBRL directly. If any number here looks wrong to you, tell us — that is more useful to us than agreement.
What the free cash flow payout ratio measures, and where every company here sits on it.
Who else looks like this
Every figure above is computed from Thermo Fisher Scientific’s own filing, and every company here is measured the same way. Screen all of them on any of these twelve measures, or on the rules two investors published — free, and nothing you screen leaves your browser.