![]() Operating cash flow was $2.0 B in 2012, and the figure increased to $8.8 B in the past twelve months. Thermo Fisher has always been great at generating operating cash flow, but they have been taking that to the next level in the past couple of years. As the services segment is a higher margin business, this will improve Thermo Fisher's profit margin even further in the future.ĭisaggregated Revenue (SEC Filings) Strong Operating Cash Flow Three month service revenue nearly doubled from $2.0 B to $4.0 B. The most exciting part of the results was the large increase in the services segment. An automated sample prep platform (AccelerOme), Thermo Scientific Direct Mass Technology mode for its mass spectrometers, and cloud-based software platform (Thermo Scientific RDO) are assisting customers in reaching greater efficiency in their research and operating environment. Several new products were launched earlier this year, and they are already boosting Thermo Fisher's growth. These are outstanding given the challenges from COVID lockdowns, supply chain issues, and cost control. ![]() Pharma and biotech delivered mid-teen growth, academic and government grew in the mid single-digits, and industrial and applied grew in the low double digits. Overall revenue grew 18% YoY, with strong performance across all of their segments. Since my previous article, Thermo Fisher reported 2Q 2022 results, and once again posted great earnings. High profit margins illustrate a strong economic moat, operational efficiency, and quality of growth. ![]()
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