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) delivered an outstanding 2Q26, beating on both lines with raised guidance.</li><li>Revenue grew by 10.5% YoY to US$11.99bn, with 5% YoY growth from organic business (vs 2025/1Q26：+2%/+1% YoY). Adj. EPS strongly grew by 12.5% YoY to US$6.03.</li><li>The reported revenue and adj. EPS in 2Q26 beat Bloomberg consensus by 2.48%/ 5.49% respectively. </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) delivered an outstanding 2Q26, beating on both lines with raised guidance.Revenue grew by 10.5% YoY to US$11.99bn, with 5% YoY growth from organic business (vs 2025/1Q26：+2%/+1% YoY). Adj. EPS strongly grew by 12.5% YoY to US$6.03.The reported revenue and adj. EPS in 2Q26 beat Bloomberg consensus by 2.48%/ 5.49% respectively. 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 2Q26 Results Leading to Raised Guidance

<ul><li>Thermo Fisher (TMO) reported 1Q26 revenue of US$11.01bn, up 6.2% YoY, with adj. EPS of US$5.44, up 5.6% YoY, primarily driven by bioproduction, CDMO and clinical CRO operations.</li><li>Analytical instruments posted a 2% decline in organic revenue, weighed down by the soft demand from academic and government endmarkets in both US and China.</li><li>1Q26 revenue/ adj. EPS beat BBG consensus by 1.5%/ 3.8%, respectively. </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 1Q26 revenue of US$11.01bn, up 6.2% YoY, with adj. EPS of US$5.44, up 5.6% YoY, primarily driven by bioproduction, CDMO and clinical CRO operations.Analytical instruments posted a 2% decline in organic revenue, weighed down by the soft demand from academic and government endmarkets in both US and China.1Q26 revenue/ adj. EPS beat BBG consensus by 1.5%/ 3.8%, respectively. 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) - 1Q26 Results: Maintaining Organic Growth Target

<ul><li>Thermo Fisher (TMO) delivered a strong 4Q25 performance, with revenue up by 7.2% YoY (the fastest quarterly growth within 2025) and adj. EPS up by 7.7%, beating Bloomberg consensus by 2.2%/ 1.9%, respectively.</li><li>The upbeat growth in the quarter was firmly supported by the solid performance of bioproduction, research and safety channel, analytical instruments, and CDMO services.</li><li>Mgmt. initiated the 2026 full-year guidance, expecting revenue to grow by 3.9% to 5.9% YoY and adj. </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) delivered a strong 4Q25 performance, with revenue up by 7.2% YoY (the fastest quarterly growth within 2025) and adj. EPS up by 7.7%, beating Bloomberg consensus by 2.2%/ 1.9%, respectively.The upbeat growth in the quarter was firmly supported by the solid performance of bioproduction, research and safety channel, analytical instruments, and CDMO services.Mgmt. initiated the 2026 full-year guidance, expecting revenue to grow by 3.9% to 5.9% YoY and adj. 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) - 4Q25 Results: Capitalizing on the Growing Pharmaceutical Demand

<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

Thematic (Sector/Industry)

<ul><li>We have analyzed the 2024 and 4Q24 financial results of key overseas CXOs and upstream companies, covering clinical CROs, preclinical CROs, C(D)MOs, and life science tools suppliers.</li><li>While the companies in our coverage universe continued to face pressure on revenue and profit growth in 2024, half demonstrated improved performance in 2H24 versus 1H24.</li><li>Specifically, C(D)MOs and life science tools suppliers showed positive trends in financial performance, demand outlook, and guidance for 2025. </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.

We have analyzed the 2024 and 4Q24 financial results of key overseas CXOs and upstream companies, covering clinical CROs, preclinical CROs, C(D)MOs, and life science tools suppliers.While the companies in our coverage universe continued to face pressure on revenue and profit growth in 2024, half demonstrated improved performance in 2H24 versus 1H24.Specifically, C(D)MOs and life science tools suppliers showed positive trends in financial performance, demand outlook, and guidance for 2025. 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.

Healthcare - Results Review of Overseas CXO and Life Science Tools Sectors in 2024 & 4Q24

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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Thermo Fisher Scientific Inc (TMO US)

Thermo Fisher (TMO US) - Strong 2Q26 Results Leading to Raised Guidance

Revenue grew by 10.5% YoY to US$11.99bn, with 5% YoY growth from organic business (vs 2025/1Q26：+2%/+1% YoY). Adj. EPS strongly grew by 12.5% YoY...

CMB International

Thermo Fisher (TMO US) - 1Q26 Results: Maintaining Organic Growth Target

Thermo Fisher (TMO) reported 1Q26 revenue of US$11.01bn, up 6.2% YoY, with adj. EPS of US$5.44, up 5.6% YoY, primarily driven by bioproduction,...

CMB International

Thermo Fisher (TMO US) - 4Q25 Results: Capitalizing on the Growing Pharmaceutical Demand

The upbeat growth in the quarter was firmly supported by the solid performance of bioproduction, research and safety channel, analytical...

CMB International

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

Healthcare - Results Review of Overseas CXO and Life Science Tools Sectors in 2024 & 4Q24

We have analyzed the 2024 and 4Q24 financial results of key overseas CXOs and upstream companies, covering clinical CROs, preclinical CROs,...

CMB International

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)