TMO

Thermo Fisher Scientific
D

TMO

Arincen67/100B

If you had invested in Thermo Fisher Scientific ago, it would be worth $4,957 today, against $4,305 in SPY and $6,524 in QQQ.

ArincenArincen ScoreBeta

67/100

Six parts of the company, five checks each, from its own reported figures. A part scores the checks it passes out of 10; the score is their average out of 100.

Profitability6

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Cash8

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Valuation4

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Growth8

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Financial strength6

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Shareholders8

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Figures to FY2025; the price as of today.

Thermo Fisher Scientific key facts

Style
Blend stock · 4.9/10Growth 4.4 · Value 4.9 · Dividend 1.0
Day range
692.85 – 710.05
52-week range
435.27 – 711.85
Market capitalization
261.70B USD
P/E
37.19
EPS
18.99
Div Yield
0.27%
EPS growth forecast (FY2026)
+10.6%
Volume
70,657
Sector
Healthcare
Industry
Medical - Diagnostics & Research
CEO
Marc N. Casper
Employees
125K
IPO date
17 Mar 1980

Thermo Fisher Scientific earnings

Next earnings · Q4 FY2026
EPS estimate
7.13 USD
Revenue estimate
12.84B USD
Last quarter · Q3 FY2026
EPS6.68Beat +4.4%Revenue12.14BBeat +1.5%

Revenue

ReportedEstimate

EPS

ReportedEstimate
PeriodReport dateEPS estimateReported EPSSurpriseEPS growthRevenue estimateReported revenueSurpriseRevenue growth
Q3 FY20277.15——+6.96%12.68B——+4.49%
Q2 FY20276.62——+9.77%12.46B——+3.85%
Q1 FY20276.06——+11.36%11.74B——+6.70%
Q4 FY20267.13——+8.52%12.84B——+5.14%
Q3 FY20266.406.68+4.37%+15.37%11.95B12.14B+1.54%+9.13%
Q2 FY20265.726.03+5.42%+12.50%11.71B11.99B+2.46%+10.49%
Q1 FY20265.255.44+3.62%+5.63%10.86B11.01B+1.29%+6.18%
Q4 FY20256.456.57+1.86%+7.70%11.95B12.22B+2.22%+7.20%
Q3 FY20255.505.79+5.27%+9.66%10.92B11.12B+1.87%+4.94%
Q2 FY20255.235.36+2.49%-0.19%10.68B10.86B+1.62%+2.98%

Thermo Fisher Scientific analyst forecast

12-month price target
694.27 USD
-1.71%

Analysts' 1-year price targets range from 520.00 to 800.00, with an average of 694.27.

Past year
1-year forecast
Strong sellStrong buy
Buy
13 ratings
Strong buy
0
Buy
10
Hold
3
Sell
0
Strong sell
0

12-month price target

Highest target800.00
Average target694.27
Lowest target520.00
Current price706.32

Thermo Fisher Scientific valuation

Price to earnings ratio (TTM)
37.19
Forward P/E (FY2026)
27.93
Price to sales (TTM)
5.53
Price to book
4.78
EV / EBITDA (TTM)
26.42

Capital structure

Market capitalization
261.70B USD
+
Total debt
41.37B USD
−
Cash and short-term investments
6.06B USD
=
Enterprise value
297.01B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate
Fiscal yearP/EForward P/EP/SP/BEV/EBITDA
FY2028 (est.)23.06————
FY2027 (est.)25.4623.06———
FY2026 (est.)27.9325.46———
Now (TTM)37.1925.815.534.7826.42
FY202532.6122.924.894.0821.58
FY202431.3822.874.634.0119.28
FY202334.1824.474.784.3820.83
FY202231.0625.594.814.9120.38
FY202134.0328.976.706.4424.63

Thermo Fisher Scientific against its own history

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Danaher, Natera, IDEXX Laboratories, Agilent Technologies, Waters, and IQVIA Holdings, the US Medical - Diagnostics & Research companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

  • P/E (today)Above its median37.2
    22.839.7
  • Gross marginBelow its median40.9%
    40.1%50.1%
    Against its peers: 6 of 7Peers' median 59.4%
  • Operating marginAt its median18.2%
    17.4%26.3%
    Against its peers: 5 of 7Peers' median 21.1%
  • Net marginAt its median15.1%
    14.0%19.7%
    Against its peers: 4 of 7Peers' median 16.7%
  • Return on equityLowest in 5 years12.6%
    12.6%18.9%
    Against its peers: 5 of 7Peers' median 20.1%
  • Free cash flow marginLowest in 5 years14.1%
    14.1%17.9%
    Against its peers: 5 of 7Peers' median 16.8%
  • Revenue growthAt its median3.9%
    -4.6%21.7%
    Against its peers: 6 of 7Peers' median 6.9%
  • EPS growthAbove its median7.3%
    -12.4%21.8%
    Against its peers: 2 of 6Peers' median 3.2%
  • Debt to EBITDAHighest in 5 years3.43×
    2.78×3.43×
    Against its peers: 5 of 6Peers' median 1.83×
  • Current ratioHighest in 5 years1.89
    1.481.89
    Against its peers: 3 of 7Peers' median 1.80

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Thermo Fisher Scientific growth and profitability

Revenue (TTM)
47.35B USD
Net income (TTM)
7.08B USD
Gross margin
41.44%
Operating margin
17.98%
Net margin
14.96%

Revenue / Net income

Revenue Net income Net margin
PeriodRevenueGrowthNet incomeGrowthGross marginOperating marginNet marginEBITDAGrowth
FY202544.56B+3.91%6.74B+6.35%40.93%18.20%15.12%11.47B-2.83%
FY202442.88B+0.05%6.34B+5.67%41.34%17.87%14.77%11.80B+5.40%
FY202342.86B-4.58%6.00B-13.74%40.12%17.37%13.99%11.20B-6.26%
FY202244.92B+14.55%6.95B-10.03%42.33%18.98%15.47%11.94B-0.23%
FY202139.21B+21.71%7.73B+21.18%50.07%26.31%19.70%11.97B+18.41%

Thermo Fisher Scientific revenue breakdown

By product

FY2025
Consumables: 41.9%Service: 41.7%Instruments: 16.4%41.9%Consumables41.7%Service16.4%Instruments
SegmentRevenueShare of revenueChange on the year
Consumables18.66B41.9%+6.1%
Service18.59B41.7%+4.2%
Instruments7.30B16.4%-1.9%

By region

FY2025
UNITED STATES: 51.7%Europe: 26.5%Asia Pacific: 18.2%All Other Countries: 3.6%51.7%UNITED STATES26.5%Europe18.2%Asia Pacific3.6%All Other Countries
RegionRevenueShare of revenueChange on the year
UNITED STATES23.03B51.7%+2.4%
Europe11.83B26.5%+8.9%
Asia Pacific8.10B18.2%+1.8%
All Other Countries1.60B3.6%+2.3%

How Thermo Fisher Scientific makes its money

Consumables18.66B 41.9%
Service18.59B 41.7%
Instruments7.30B 16.4%
Revenue44.56B 100.0%
Cost of revenue26.32B 59.1%
Gross profit18.24B 40.9%
Research and development1.40B 3.1%
Selling and administration8.73B 19.6%
Operating income8.11B 18.2%
Tax547.00M 1.2%
Other expense825.00M 1.9%
Net income6.74B 15.1%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Thermo Fisher Scientific dividends

Annual dividend
1.88 USD
Dividend yield (indicated)
0.27%
Payout ratio
9.69%
Years of dividend growth
9
Frequency
Quarterly
Last payment
0.47 USD
Last ex-dividend date
15 Sept 2026
Last payment date
15 Oct 2026

Dividends per share

Year2025202420232022202120202019201820172016
Dividends per share1.681.521.351.161.000.850.740.660.600.60

Thermo Fisher Scientific financial health

Cash and short-term investments
6.06B USD
Total debt
41.37B USD
Net cash
-35.31B USD
Free cash flow (TTM)
7.60B USD
Current ratio
1.81
Debt to equity
0.76
Piotroski score
7 / 9
Altman Z-score
4.12

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow
Fiscal yearCash and short-term investmentsTotal debtFree cash flow
FY202510.11B39.39B6.29B
FY20245.58B32.78B7.27B
FY20238.08B36.42B6.93B
FY20228.52B36.07B6.91B
FY20214.48B36.34B7.02B

Thermo Fisher Scientific ownership

Institutions
91.40%
Institutional holders
2,714 (+28)
Free float
99.74%
InstitutionsOthers
As of 30 Jun 2026

Insider trading

QuarterPurchasesSalesShares acquiredShares disposed of
Q4 2026010.006.32K
Q3 202609387.75K194.27K
Q2 2026015.33K480.29
Q1 2026035116.36K40.06K

Shares outstanding

Basic shares Diluted shares Change in diluted shares
Fiscal yearBasic sharesDiluted sharesChange in diluted shares
FY2025376.00M377.00M-1.57%
FY2024382.00M383.00M-1.29%
FY2023386.00M388.00M-1.52%
FY2022392.00M394.00M-0.76%
FY2021394.00M397.00M-0.50%

Source: Financial Modeling Prep

Related Instruments

Title: Thermo Fisher Scientific

Sector: Healthcare
Industry: Medical - Diagnostics & Research
Thermo Fisher Scientific Inc. is an American company that focuses on the supply of scientific instrumentation, reagents and consumables, and software services. It channels its products and services through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics and Laboratory Products and Services. The company is headquartered in Waltham, Massachusetts, and came into being following the merger of Thermo Electron and Fisher Scientific in 2006. The company is the self-styled world leader in “serving science,” which is to say its products are designed for customers in the business of science and Thermo Fisher Scientific Inc. helps them by increasing productivity in their laboratories.

Common questions about Thermo Fisher Scientific stock

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