Valuation dashboard for Thermo Fisher Scientific Inc. (TMO) with P/E 36.83, P/B 4.61, EV/EBITDA 25.6 and dividend yield 0.27%. DCF, Graham Number, EPS growth, peer multiples and dividend discount models plus sector comparison against other Healthcare companies.
Thermo Fisher Scientific Inc. is a global leader in scientific services, providing a comprehensive range of offerings that include life sciences solutions, advanced analytical instruments, specialized diagnostic products, and an extensive portfolio of laboratory supplies and biopharmaceutical services. The company's reach extends across North America, Europe, Asia-Pacific, and other international markets.
Where would it trade at its usual multiples?
Versus its usual multiples: fairly priced · Current P/E 36.8× · Multiples range: $581.88 · $657.63.
At the decade median (34.7×) $658 (-6%); at its sector median (30.7×) $582 (-17%). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.
Analysis Summary
Thermo Fisher Scientific Inc. reported revenue of $44.56B in the most recent fiscal year, growing at a 5-year CAGR of 6.7%. Net income reached $6.74B, with a 1.1% 5-year CAGR.
Trailing-twelve-month margins: gross margin 41.4%, operating margin 18.0%, net margin 15.0%.
At $698.34 (closing price, November 3, 2026), TMO trades at a P/E of 36.83 and an ROE of 13.32%. Market capitalisation stands at $258.7B, placing it among large-cap names.
Balance sheet quality for TMO: debt-to-equity ratio of 0.76, current ratio of 1.81 over the last 12 months. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Valuation Ratios
| P/E Ratio | 36.83 |
| Price / Book | 4.61 |
| EV / EBITDA | 25.6 |
| Dividend Yield | 0.27% |
Peer Comparison
| Symbol | Company | Market Cap | P/E | P/B | ROE |
|---|---|---|---|---|---|
| TMO | Thermo Fisher Scientific Inc. | $258.7B | 36.83 | 4.61 | 13.3% |
| TECH | Bio-Techne Corporation | $11.4B | 62.64 | 5.38 | 8.9% |
| BRKR | Bruker Corporation | $10.4B | 4.52 | -5.6% | |
| DHR | Danaher Corporation | $161.8B | 37.66 | 2.99 | 8.2% |
| A | Agilent Technologies, Inc. | $49.5B | 34.54 | 6.59 | 20.5% |
| MTD | Mettler-Toledo International Inc. | $34.0B | 38.22 | 2,664.53 | -12.0% |
| WAT | Waters Corporation | $45.2B | 197.38 | 2.96 | 0.8% |
| RVTY | Revvity, Inc. | $18.2B | 72.34 | 2.51 | 3.5% |
Price
| Price | $698.34 (closing price, November 3, 2026) |
| Market Cap | $258.7B |
| Exchange | NYSE |
| Country | US |
Profitability
| Return on Equity | 13.32% |
| Return on Invested Capital | 7.54% |
| Return on Assets | 6.20% |
| Gross Margin | 41.44% |
| Operating Margin | 17.98% |
| Net Margin | 14.96% |
Related companies: TECH · BRKR · DHR · A · MTD · WAT · RVTY · QGEN
Explore sector: Healthcare · Medical - Diagnostics & Research
More sections of TMO: Overview · Financials · Estimates · Technical · Ownership
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