Thermo Fisher Scientific

The revenue model is highly recurring and diversified. 83 percent of company revenue is consumables and services, and end‑market exposure is well balanced, with pharma and biotech at 57 percent, academic and government 15 percent, diagnostics and healthcare 14 percent, and industrial and applied 14 percent.

Long‑term guidance targets 7 to 9 percent organic revenue growth and mid‑teens adjusted EPS compounding. Geographic mix is diversified with North America 52 percent, Europe 25 percent and Asia‑Pacific 19 percent.

Risks to predictability include biotech funding cycles, China exposure and capital budget timing, but overall cash generation has remained steady through cycles.