Thermo Fisher Scientific Inc. TMO SPX

Healthcare · Diagnostics & Research · United States

https://www.thermofisher.com

Thermo Fisher Scientific Inc. provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Biopharma Services. The Life Sciences Solutions segment includes reagents, instruments, and consumables for biological and medical research; discovery and production of drugs and vaccines; and diagnosis of infections and diseases. Its Analytical Instruments segment provides instruments, consumables, software, and services for pharmaceutical, biotechnology, academic, government, environmental, and other research and industrial markets, as well as clinical laboratories. The Specialty Diagnostics segment offers clinical diagnostics products, such as liquid ready-to-use and lyophilized immunodiagnostic reagent kits, calibrators, controls, protein detection assays, and instruments; immunodiagnostic offerings comprising developing, manufacturing, and marketing of complete blood-test systems for the clinical diagnosis and monitoring of allergy, asthma and autoimmune diseases; microbiology offerings, such as dehydrated and prepared culture media, collection and transport systems, instrumentation and consumables to detect pathogens in blood, diagnostic and rapid direct specimen tests, quality-control products, and associated products; transplant diagnostics products, including human leukocyte antigen typing and testing for the organ transplant market; and healthcare market channel offerings. Its Laboratory Products and Biopharma Services segment provides laboratory products, research and safety market channel, and pharma services and clinical research. Thermo Fisher Scientific Inc. was founded in 1956 and is headquartered in Waltham, Massachusetts.

Market & Price

Market Cap

$183.03B

Current Price

$492.51

High / Low (52W)

$638.82 / $389.23

Beta

0.88

Valuation

Stock P/E

27.11

Industry PE

23.65

Forward P/E

18.04

PEG Ratio

1.62

Book Value

$141.96

Price to Book

3.47

P/S

4.05

EV/EBITDA

19.75

Dividend Yield

0.38%

Profitability & Returns

ROCE

9.17%

ROE

13.52%

ROA

5.00%

Profit Margin

15.15%

Op Margin

17.89%

EPS (Latest Qtr)

$4.43

EPS (TTM)

$18.17

Balance Sheet & Liquidity

Debt/Equity

0.83

Quick Ratio

0.97

Current Ratio

1.53

Debt

$43.16B

Total Assets

$110.34B

Current Assets

$28.71B

Working Capital

$13.52B

Ownership

Promoter Holding

0.15%

Chg in Prom Hold

FII / Inst Holding

94.18%

Chg in FII Hold

0.04%

Financial Snapshot

Enterprise Value

$223.06B

Total Revenue (TTM)

$45.20B

EBITDA

$11.30B

Free Cash Flow

$5.52B

Operating Cash Flow

$8.29B

Shares Outstanding

371.62M

Gross Margin

40.93%

Payout Ratio

9.68%

Growth (CAGR)

Revenue 5Y

-0.27%

Profit 5Y

-1.19%

Revenue (YoY)

6.20%

Earnings (YoY)

11.30%

PROS

Generates positive free cash flow.

CONS

Revenue declined at -0.3% CAGR over 5 years.
Earnings shrank at -1.2% CAGR over 5 years.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Healthcare).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	TMO Thermo Fisher Scientific Inc. SPX	492.51	27.11	$183.03B	0.38%	9.17%	13.52%	-0.27%	-1.19%
2	LLY Eli Lilly and Company SPX	1,105.00	39.21	$985.37B	0.63%	38.44%	107.46%	31.69%	48.96%
3	JNJ Johnson & Johnson SPX	225.33	26.11	$542.42B	2.38%	23.13%	26.42%	5.60%	14.32%
4	UNH UnitedHealth Group Incorporated SPX	380.31	28.66	$345.38B	2.32%	9.60%	12.18%	11.35%	-15.69%
5	MRK Merck & Co., Inc. SPX	118.72	33.44	$293.22B	2.86%	20.66%	18.94%	3.12%	7.93%
6	AMGN Amgen Inc. NDXSPX	336.79	23.42	$181.77B	2.99%	18.02%	101.32%	11.77%	5.58%
7	GILD Gilead Sciences, Inc. NDXSPX	134.43	18.29	$166.90B	2.44%	22.92%	43.36%	2.57%	22.83%
8	ISRG Intuitive Surgical, Inc. NDXSPXAI	424.64	51.53	$150.39B	-	15.96%	17.23%	17.39%	29.26%
9	PFE Pfizer Inc. SPX	26.18	19.98	$149.21B	6.57%	5.95%	8.31%	-14.80%	-37.20%

Quarterly Results

Figures in USD.

Metric	Mar 2015	Jun 2015	Sep 2015	Dec 2015	Apr 2016	Jul 2016	Oct 2016	Dec 2016	Apr 2017	Jul 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Apr 2021	Jul 2021	Oct 2021	Apr 2022	Jul 2022	Oct 2022	Apr 2023	Jul 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	-	-	4.76B	4.99B	5.12B	6.05B	5.85B	6.08B	5.92B	6.51B	6.12B	6.32B	6.27B	6.83B	6.23B	6.92B	8.52B	9.91B	9.27B	9.33B	11.82B	10.97B	10.68B	10.71B	10.69B	10.57B	10.35B	10.54B	10.60B	10.36B	10.85B	11.12B	12.21B	11.01B
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6.13B	6.45B	6.54B	7.20B	6.58B
Gross Profit	1.82B	1.94B	1.88B	2.11B	1.96B	2.08B	2.05B	2.28B	2.19B	2.28B	2.30B	2.67B	2.58B	2.74B	2.62B	2.92B	2.71B	2.82B	2.76B	3.04B	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4.24B	4.41B	4.58B	5.01B	4.43B
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.42B	2.49B	2.51B	2.71B	2.52B
Operating Income	487.30M	595.80M	562.90M	-	517.90M	637.60M	541.10M	-	620.00M	749.00M	634.00M	-	786.00M	937.00M	912.00M	-	920.00M	1.50B	946.00M	-	906.00M	1.39B	2.43B	3.05B	2.16B	2.28B	2.82B	2.00B	1.71B	1.56B	1.58B	1.86B	1.66B	1.82B	1.84B	1.81B	1.92B	2.08B	2.30B	1.91B
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.63B	2.80B	2.83B	3.25B	2.82B
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	303.00M	404.00M	347.00M	365.00M	354.00M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.62B	1.71B	1.83B	2.15B	1.73B
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	95.00M	92.00M	207.00M	153.00M	70.00M
Net Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.55B	1.63B	1.51B	1.62B	1.62B	1.96B	1.65B
Diluted EPS	0.96	1.27	1.18	1.50	1.01	1.30	1.19	1.59	1.40	1.56	1.34	1.30	1.43	1.85	1.75	2.22	2.02	2.77	1.88	2.49	1.97	2.90	4.84	5.88	4.61	4.79	5.61	4.22	3.79	3.32	3.51	4.42	3.46	4.04	4.25	3.98	4.28	4.27	5.21	4.43
R&D Expense	165.80M	174.60M	171.60M	-	176.50M	182.40M	183.30M	-	215.00M	222.00M	217.00M	-	234.00M	242.00M	240.00M	-	248.00M	246.00M	247.00M	-	245.00M	264.00M	296.00M	320.00M	343.00M	351.00M	364.00M	365.00M	351.00M	346.00M	345.00M	319.00M	331.00M	339.00M	346.00M	342.00M	352.00M	346.00M	-	336.00M

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2007	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	-	-	-	18.27B	20.92B	24.36B	25.54B	32.22B	39.21B	44.91B	42.86B	42.88B	44.56B
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	25.94B	25.76B	25.18B	26.32B
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18.97B	17.10B	17.70B	18.24B
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10.46B	9.78B	9.98B	10.13B
Operating Income	974.40M	1.23B	1.00B	1.19B	1.25B	1.48B	1.61B	2.50B	2.34B	2.46B	2.96B	3.78B	4.59B	7.79B	10.03B	8.51B	7.32B	7.72B	8.11B
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11.94B	11.08B	11.54B	11.51B
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	726.00M	1.38B	1.39B	1.42B
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7.83B	6.30B	7.04B	7.31B
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	703.00M	284.00M	657.00M	547.00M
Net Income	748.40M	980.90M	850.30M	1.04B	1.33B	1.18B	1.27B	-	-	-	-	-	-	-	-	6.95B	6.00B	6.33B	6.70B
Diluted EPS	1.69	2.25	2.01	2.53	3.46	3.21	3.48	4.71	4.92	5.09	5.59	7.24	9.17	15.96	19.46	17.63	15.45	16.53	17.74
R&D Expense	-	-	-	284.40M	340.20M	376.40M	395.50M	691.10M	692.00M	754.00M	887.00M	967.00M	1.00B	1.18B	1.41B	1.47B	1.34B	1.39B	1.40B

Compounded Sales Growth

5 Years:	-0.27%
1 Year:	6.20%

Compounded Profit Growth

5 Years:	-1.19%
1 Year:	11.30%

Stock Price Performance

1 Year:	+22.72%
6 Months:	-17.47%
3 Months:	-5.39%
1 Month:	+5.63%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2006	Dec 2007	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	21.09B	21.62B	21.35B	26.83B	27.44B	31.86B	42.85B	40.83B	45.91B	56.67B	56.23B	58.38B	69.05B	-	97.15B	98.73B	97.32B	110.34B
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	25.23B	24.59B	22.14B	28.71B
Cash & Equivalents	667.40M	625.10M	1.28B	1.56B	917.10M	1.02B	805.60M	5.83B	1.34B	452.10M	786.00M	1.33B	2.10B	2.40B	10.32B	-	8.52B	8.08B	4.01B	9.85B
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5.63B	5.09B	4.98B	5.42B
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8.12B	8.22B	8.19B	8.90B
Total Liabilities	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	53.01B	51.88B	47.65B	56.81B
Current Liabilities	-	-	1.54B	1.64B	1.71B	3.11B	2.09B	3.13B	5.35B	4.15B	4.87B	7.05B	6.15B	6.20B	10.30B	-	17.01B	14.01B	13.33B	15.19B
Long Term Debt	-	-	-	-	-	-	-	-	-	-	-	-	17.72B	17.08B	19.11B	-	28.91B	31.31B	29.06B	35.85B
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	34.49B	34.92B	31.27B	39.38B
Total Equity	-	14.46B	14.93B	15.43B	15.36B	15.04B	15.46B	16.86B	20.55B	21.35B	21.54B	25.41B	27.59B	29.68B	34.51B	-	43.98B	46.73B	49.59B	53.41B
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	440.67M	442.19M	443.84M	445.16M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2007	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	1.48B	1.42B	1.66B	1.50B	1.69B	2.04B	2.01B	2.62B	2.94B	3.26B	4.00B	4.54B	4.97B	8.29B	-	9.15B	8.41B	8.67B	7.82B
Investing Cash Flow	-586.00M	-450.00M	-829.50M	-858.90M	-5.14B	-1.37B	-263.30M	-11.78B	-1.09B	-5.52B	-7.73B	-1.25B	-1.49B	-1.51B	-	-2.16B	-5.14B	-5.84B	-4.05B
Financing Cash Flow	-928.70M	-228.40M	-557.50M	-1.30B	-	-	-	-	-2.62B	2.76B	3.85B	-2.24B	-3.12B	959.00M	-	-2.81B	-3.62B	-6.79B	1.80B
Capital Expenditure	-175.50M	-264.40M	-200.00M	-245.40M	-260.90M	-315.10M	-282.40M	-427.60M	-423.00M	-444.00M	-508.00M	-758.00M	-926.00M	-1.47B	-	-2.24B	-1.48B	-1.40B	-1.52B
Free Cash Flow	1.31B	1.16B	1.46B	1.25B	1.43B	1.72B	1.73B	2.19B	2.52B	2.81B	3.50B	3.79B	4.05B	6.82B	-	6.91B	6.93B	7.27B	6.29B
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4.18B	-358.00M	-3.97B	5.57B
Share Buybacks	898.00M	187.40M	414.60M	1.01B	1.34B	1.15B	89.80M	0	500.00M	1.25B	750.00M	500.00M	1.50B	1.50B	2.00B	3.00B	3.00B	4.00B	3.00B

Ratios (Annual)

Figures in %.

Metric	Dec 2007	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	42.2%	39.9%	41.3%	40.9%
Operating Margin %	-	-	-	-	-	-	-	-	-	13.5%	14.2%	15.5%	18.0%	24.2%	25.6%	18.9%	17.1%	18.0%	18.2%
Net Margin %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15.5%	14.0%	14.8%	15.0%
ROE %	5.2%	6.6%	5.5%	6.7%	8.8%	7.6%	7.6%	-	-	-	-	-	-	-	-	15.8%	12.8%	12.8%	12.6%
ROCE %	-	6.3%	5.0%	6.0%	5.3%	5.8%	5.6%	6.7%	6.4%	6.0%	6.0%	7.6%	8.8%	13.3%	-	10.6%	8.6%	9.2%	8.5%

Shareholding Pattern

Insiders

0.15%

Institutions

94.18%

Public Float

94.33%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	8.19%	30.43M	$14.99B
2	Vanguard Capital Management LLC	6.53%	24.28M	$11.96B
3	State Street Corporation	4.50%	16.73M	$8.24B
4	Morgan Stanley	2.92%	10.86M	$5.35B
5	FMR, LLC	2.90%	10.78M	$5.31B
6	Geode Capital Management, LLC	2.26%	8.41M	$4.14B
7	Franklin Resources, Inc.	1.83%	6.81M	$3.36B
8	JPMORGAN CHASE & CO	1.83%	6.80M	$3.35B
9	Capital World Investors	1.79%	6.65M	$3.27B
10	Price (T.Rowe) Associates Inc	1.70%	6.32M	$3.11B

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TMO · Healthcare