External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Equity Bottom-Up

Thermo Fisher Scientific Inc / Equity Bottom-Up

<ul><li>Thermo Fisher (TMO) reported continuously improved financials for 3Q25, with revenue increasing by 5.0% YoY and adj. EPS rising by 9.7% YoY.</li><li>Revenue and adj. EPS in 3Q25 beat BBG consensus by 1.8% and 5.4%, respectively.</li><li>Despite ongoing macroeconomic uncertainties, TMO delivered strong operational execution, effectively mitigating the negative impacts of tariffs. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Thermo Fisher (TMO) reported continuously improved financials for 3Q25, with revenue increasing by 5.0% YoY and adj. EPS rising by 9.7% YoY.Revenue and adj. EPS in 3Q25 beat BBG consensus by 1.8% and 5.4%, respectively.Despite ongoing macroeconomic uncertainties, TMO delivered strong operational execution, effectively mitigating the negative impacts of tariffs. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Thermo Fisher (TMO US) - Strong 3Q25 Performance; Raising Full-Year Guidance

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Thermo Fisher Scientific  / Equity Bottom-Up

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Dominant Market Leader with Unmatched Scale: Thermo Fisher is the world's largest provider of life sciences tools and services, operating as a 'one-stop shop' for pharmaceutical, biotech, academic, and government clients. Its vast portfolio, global reach, and entrenched customer relationships create a significant competitive advantage.</li>
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Proven Growth Strategy Through Strategic M&amp;A: The company has a long and successful history of augmenting strong organic growth with strategic acquisitions. This approach allows it to consistently enter high-growth adjacent markets, expand its technological capabilities, and consolidate a fragmented industry.</li>
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Post-Pandemic Normalization Presents Headwinds and Opportunity: While recent financial performance reflects a normalization from the peak of COVID-19-related demand, the company is well-positioned to capitalize on long-term secular tailwinds in areas like biologics, cell and gene therapy, and personalized medicine.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
Dominant Market Leader with Unmatched Scale: Thermo Fisher is the world's largest provider of life sciences tools and services, operating as a 'one-stop shop' for pharmaceutical, biotech, academic, and government clients. Its vast portfolio, global reach, and entrenched customer relationships create a significant competitive advantage.
  
Proven Growth Strategy Through Strategic M&amp;A: The company has a long and successful history of augmenting strong organic growth with strategic acquisitions. This approach allows it to consistently enter high-growth adjacent markets, expand its technological capabilities, and consolidate a fragmented industry.
  
Post-Pandemic Normalization Presents Headwinds and Opportunity: While recent financial performance reflects a normalization from the peak of COVID-19-related demand, the company is well-positioned to capitalize on long-term secular tailwinds in areas like biologics, cell and gene therapy, and personalized medicine.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Thermo Fisher Scientific  (TMO UN) - Sep 2025

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Thermo Fisher Scientific's second-quarter 2025 earnings showcased a company navigating a challenging macroeconomic environment positively and prudently.</li><li>The company reported revenue growth of 3% to $10.85 billion and a 1% increase in adjusted operating income to $2.38 billion.</li><li>Its adjusted earnings per share (EPS) was $5.36, signaling an ability to surpass internal guidance despite headwinds, primarily from tariffs affecting operations in China and broader policy uncertainties.</li></ul>

Thermo Fisher Scientific's second-quarter 2025 earnings showcased a company navigating a challenging macroeconomic environment positively and prudently.The company reported revenue growth of 3% to $10.85 billion and a 1% increase in adjusted operating income to $2.38 billion.Its adjusted earnings per share (EPS) was $5.36, signaling an ability to surpass internal guidance despite headwinds, primarily from tariffs affecting operations in China and broader policy uncertainties.

Thermo Fisher Scientific: Emerging Market Potential & Resilience As A Key To Its Growth Strategy!

<ul><li>Thermo Fisher (TMO) reported improved financials for 2Q25, with revenue increasing by 3.0% YoY and adj. EPS declining lightly by 0.2% YoY.</li><li>Both revenue and adj EPS exceeded Bloomberg consensus by 1.6% and 2.4%, respectively.</li><li>Despite ongoing macroeconomic uncertainties, TMO delivered strong operational execution, effectively mitigating the negative impact of tariffs. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Thermo Fisher (TMO) reported improved financials for 2Q25, with revenue increasing by 3.0% YoY and adj. EPS declining lightly by 0.2% YoY.Both revenue and adj EPS exceeded Bloomberg consensus by 1.6% and 2.4%, respectively.Despite ongoing macroeconomic uncertainties, TMO delivered strong operational execution, effectively mitigating the negative impact of tariffs. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Thermo Fisher (TMO US) - Improved Outlook on the Impact of Tariffs

<ul><li>Thermo Fisher Scientific's Q1 2025 earnings report exhibits both strengths and challenges, reflecting the complex macroeconomic landscape.</li><li>The company reported a solid revenue of $10.36 billion and an adjusted operating income of $2.27 billion.</li><li>Their adjusted operating margin stood at 21.9%, with an adjusted EPS of $5.15, reflecting a 1% year-over-year growth.</li></ul>

Thermo Fisher Scientific's Q1 2025 earnings report exhibits both strengths and challenges, reflecting the complex macroeconomic landscape.The company reported a solid revenue of $10.36 billion and an adjusted operating income of $2.27 billion.Their adjusted operating margin stood at 21.9%, with an adjusted EPS of $5.15, reflecting a 1% year-over-year growth.

Thermo Fisher Scientific: Latest Expansion in Pharmaceutical Services Driving Our Optimism!

United States

Thermo Fisher Scientific, Inc. manufactures scientific instruments, consumables, and chemicals. The Company offers analytical instruments, laboratory equipment, software, services, consumables, reagents, chemicals, and supplies to pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions, and government agencies.

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Thermo Fisher Scientific (TMO UN)

Thermo Fisher (TMO US) - Strong 3Q25 Performance; Raising Full-Year Guidance

Thermo Fisher (TMO) reported continuously improved financials for 3Q25, with revenue increasing by 5.0% YoY and adj. EPS rising by 9.7% YoY.

CMB International

Primer: Thermo Fisher Scientific (TMO UN) - Sep 2025

Dominant Market Leader with Unmatched Scale: Thermo Fisher is the world's largest provider of life sciences tools and services, operating as a...

αSK

Thermo Fisher Scientific: Emerging Market Potential & Resilience As A Key To Its Growth Strategy!

Thermo Fisher Scientific's second-quarter 2025 earnings showcased a company navigating a challenging macroeconomic environment positively and...

Baptista Research

Thermo Fisher (TMO US) - Improved Outlook on the Impact of Tariffs

Thermo Fisher (TMO) reported improved financials for 2Q25, with revenue increasing by 3.0% YoY and adj. EPS declining lightly by 0.2% YoY.

CMB International

Thermo Fisher Scientific: Latest Expansion in Pharmaceutical Services Driving Our Optimism!

Thermo Fisher Scientific's Q1 2025 earnings report exhibits both strengths and challenges, reflecting the complex macroeconomic landscape. The...

Baptista Research

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