赛默飞发布2025年Q4及全年财报，各项核心财务指标超预期

Core Insights - Thermo Fisher Scientific reported Q4 2025 revenue of $12.21 billion, a 7% year-over-year increase, exceeding the expected $11.89 billion [5] - The company achieved a full-year revenue of $44.56 billion, reflecting a 4% year-over-year growth [8] Q4 Performance - Life Sciences Solutions generated $2.9 billion in revenue, up 13% year-over-year, with organic growth of 4% [6] - Laboratory Products and Biopharma Services, the largest segment, reported $6.3 billion in revenue, an 8% increase [6] - Analytical Instruments showed a slight revenue increase to $2.2 billion, up 1% year-over-year, indicating a slow recovery in capital spending on large scientific instruments [6] - Professional Diagnostics maintained steady performance with $1.2 billion in revenue, a 5% growth, offsetting declines in pandemic-related revenues [6] Full-Year Performance - The full-year net income reached $6.7 billion, a 6% increase compared to the previous year [8] - North America experienced modest growth, impacted by academic and government budget constraints, while Europe saw low single-digit growth driven by recovering pharmaceutical demand [8] - The Asia-Pacific region exhibited high single-digit growth overall, although China faced low single-digit declines due to macroeconomic pressures [8] - High-growth markets like India and Latin America performed well, helping to mitigate some negative impacts [8] Sector Growth - The pharmaceutical and biotechnology sectors showed significant growth, with high single-digit growth in Q4 and mid-single-digit growth for the full year, primarily driven by biopharmaceuticals [9] - Notable product launches in 2025 included impactful items such as the Orbital Astral Zoom and the 5-liter DynaDrive single-use bioreactor [9] - Strategic acquisitions included the completion of the Solventum filtration business and the acquisition of Sanofi's sterile filling facility, enhancing biopharma service capabilities [9] Operational Efficiency - The company improved its operating margin to 18.5% through its PPI business system, which focuses on lean management practices [10] - Expanded partnerships include a technology alliance with the Chan Zuckerberg Initiative and a strategic collaboration with OpenAI [11]