# Thermo Fisher Scientific Moat

Status: published. Policy: company-analysis-1.

Thermo Fisher demonstrates sophisticated product demand, multiyear customer contracts, realized pricing benefits and repeated productivity gains. These establish operating strengths, but the passages do not establish durable switching barriers, protected technological superiority or costs below competitors. Historical pricing evidence is stronger than the previous analysis recognized, although recent pricing contributions remain unquantified. Insufficient evidence of a moat does not establish a weak competitive position.

- [https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm](https://www.sec.gov/Archives/edgar/data/97745/000009774526000018/tmo-20251231.htm) · 2026-02-26
- [https://www.sec.gov/Archives/edgar/data/97745/000009774526000144/tmo-20260627.htm](https://www.sec.gov/Archives/edgar/data/97745/000009774526000144/tmo-20260627.htm) · 2026-07-31
- [https://www.sec.gov/Archives/edgar/data/97745/000119312526144585/d66426ddef14a.htm](https://www.sec.gov/Archives/edgar/data/97745/000119312526144585/d66426ddef14a.htm) · 2026-04-07
- [https://www.sec.gov/Archives/edgar/data/97745/000009774525000010/tmo-20241231.htm](https://www.sec.gov/Archives/edgar/data/97745/000009774525000010/tmo-20241231.htm) · 2025-02-20
- [https://www.sec.gov/Archives/edgar/data/97745/000009774524000007/tmo-20231231.htm](https://www.sec.gov/Archives/edgar/data/97745/000009774524000007/tmo-20231231.htm) · 2024-02-22
- [https://www.sec.gov/Archives/edgar/data/97745/000009774526000092/tmo-20260328.htm](https://www.sec.gov/Archives/edgar/data/97745/000009774526000092/tmo-20260328.htm) · 2026-05-01

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