(TMO) Thermo Fisher Scientific - Overview
Stock: Reagents, Instruments, Consumables, Diagnostics, Instruments
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 0.35% |
| Yield on Cost 5y | 0.35% |
| Yield CAGR 5y | 13.40% |
| Payout Consistency | 42.1% |
| Payout Ratio | 7.5% |
| Risk 5d forecast | |
|---|---|
| Volatility | 34.6% |
| Relative Tail Risk | -7.54% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.13 |
| Alpha | -20.84 |
| Character TTM | |
|---|---|
| Beta | 0.890 |
| Beta Downside | 0.953 |
| Drawdowns 3y | |
|---|---|
| Max DD | 37.28% |
| CAGR/Max DD | -0.04 |
Description: TMO Thermo Fisher Scientific January 28, 2026
Thermo Fisher Scientific (NYSE:TMO) operates four core segments: Life Sciences Solutions (reagents, instruments, and consumables for drug and vaccine development and disease diagnostics); Analytical Instruments (hardware, software, and services for pharma, biotech, academic, and industrial research); Specialty Diagnostics (immunodiagnostic kits, blood-test systems, microbiology media, and transplant-type HLA testing); and Laboratory Products & Biopharma Services (lab consumables, safety products, and contract manufacturing through Patheon, PPD, and related brands). The company reaches customers worldwide via a direct sales force, e-commerce platforms, and third-party distributors under brands such as Thermo Scientific, Applied Biosystems, Invitrogen, and Fisher Scientific.
According to the FY 2023 Form 10-K (filed Feb 2024), Thermo Fisher generated $45.6 billion in revenue, a 7 % year-over-year increase, with an operating margin of roughly 20 % and net income of $5.0 billion. Adjusted EPS rose to $12.34, and free cash flow reached $5.5 billion, supporting a current market capitalization of about $210 billion. The firm’s R&D spend was $2.2 billion (≈4.8 % of revenue), reflecting continued investment in next-generation genomics and cell-therapy platforms.
Key drivers of TMO’s outlook include: (1) sustained growth in global biopharma R&D spending, projected to expand at a 9 % CAGR through 2028, which fuels demand for the company’s reagents and contract-manufacturing services; (2) ongoing need for high-throughput diagnostic testing post-COVID-19, especially in infectious-disease surveillance and personalized medicine; and (3) macro-level trends such as increased capital expenditure by academic and government labs on advanced analytical instrumentation, which historically correlates with a 1.5-2 % lift in segment revenue for firms with a strong instrument portfolio.
For a deeper dive into TMO’s valuation metrics, you might explore the analysis on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 6.0
| Net Income: 6.71b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA -1.76 > 1.0 |
| NWC/Revenue: 30.34% < 20% (prev 20.53%; Δ 9.80% < -1%) |
| CFO/TA 0.07 > 3% & CFO 7.82b > Net Income 6.71b |
| Net Debt (29.53b) to EBITDA (11.29b): 2.62 < 3 |
| Current Ratio: 1.89 > 1.5 & < 3 |
| Outstanding Shares: last quarter (377.0m) vs 12m ago -1.57% < -2% |
| Gross Margin: 39.46% > 18% (prev 0.41%; Δ 3905 % > 0.5%) |
| Asset Turnover: 42.91% > 50% (prev 44.06%; Δ -1.15% > 0%) |
| Interest Coverage Ratio: 6.00 > 6 (EBITDA TTM 11.29b / Interest Expense TTM 1.42b) |
Altman Z'' 3.99
| A: 0.12 (Total Current Assets 28.71b - Total Current Liabilities 15.19b) / Total Assets 110.34b |
| B: 0.51 (Retained Earnings 55.90b / Total Assets 110.34b) |
| C: 0.08 (EBIT TTM 8.51b / Avg Total Assets 103.83b) |
| D: 0.94 (Book Value of Equity 53.41b / Total Liabilities 56.93b) |
| Altman-Z'' Score: 3.99 = AA |
Beneish M -3.09
| DSRI: 0.89 (Receivables 8.90b/9.63b, Revenue 44.56b/42.88b) |
| GMI: 1.03 (GM 39.46% / 40.51%) |
| AQI: 0.97 (AQ_t 0.64 / AQ_t-1 0.66) |
| SGI: 1.04 (Revenue 44.56b / 42.88b) |
| TATA: -0.01 (NI 6.71b - CFO 7.82b) / TA 110.34b) |
| Beneish M-Score: -3.09 (Cap -4..+1) = AA |
What is the price of TMO shares?
Over the past week, the price has changed by -6.18%, over one month by -12.55%, over three months by -4.02% and over the past year by -4.88%.
Is TMO a buy, sell or hold?
- StrongBuy: 18
- Buy: 7
- Hold: 6
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the TMO price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 665.8 | 22.7% |
| Analysts Target Price | 665.8 | 22.7% |
| ValueRay Target Price | 541.5 | -0.2% |
TMO Fundamental Data Overview February 01, 2026
P/E Forward = 23.3645
P/S = 4.879
P/B = 4.0698
P/EG = 2.1414
Revenue TTM = 44.56b USD
EBIT TTM = 8.51b USD
EBITDA TTM = 11.29b USD
Long Term Debt = 35.85b USD (from longTermDebt, last quarter)
Short Term Debt = 3.53b USD (from shortTermDebt, last quarter)
Debt = 39.38b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 29.53b USD (from netDebt column, last quarter)
Enterprise Value = 246.92b USD (217.39b + Debt 39.38b - CCE 9.85b)
Interest Coverage Ratio = 6.00 (Ebit TTM 8.51b / Interest Expense TTM 1.42b)
EV/FCF = 39.24x (Enterprise Value 246.92b / FCF TTM 6.29b)
FCF Yield = 2.55% (FCF TTM 6.29b / Enterprise Value 246.92b)
FCF Margin = 14.12% (FCF TTM 6.29b / Revenue TTM 44.56b)
Net Margin = 15.07% (Net Income TTM 6.71b / Revenue TTM 44.56b)
Gross Margin = 39.46% ((Revenue TTM 44.56b - Cost of Revenue TTM 26.98b) / Revenue TTM)
Gross Margin QoQ = 37.95% (prev 41.83%)
Tobins Q-Ratio = 2.24 (Enterprise Value 246.92b / Total Assets 110.34b)
Interest Expense / Debt = 0.93% (Interest Expense 365.0m / Debt 39.38b)
Taxrate = 7.21% (153.0m / 2.12b)
NOPAT = 7.90b (EBIT 8.51b * (1 - 7.21%))
Current Ratio = 1.89 (Total Current Assets 28.71b / Total Current Liabilities 15.19b)
Debt / Equity = 0.74 (Debt 39.38b / totalStockholderEquity, last quarter 53.41b)
Debt / EBITDA = 2.62 (Net Debt 29.53b / EBITDA 11.29b)
Debt / FCF = 4.69 (Net Debt 29.53b / FCF TTM 6.29b)
Total Stockholder Equity = 51.09b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.47% (Net Income 6.71b / Total Assets 110.34b)
RoE = 13.14% (Net Income TTM 6.71b / Total Stockholder Equity 51.09b)
RoCE = 9.79% (EBIT 8.51b / Capital Employed (Equity 51.09b + L.T.Debt 35.85b))
RoIC = 9.26% (NOPAT 7.90b / Invested Capital 85.34b)
WACC = 7.92% (E(217.39b)/V(256.77b) * Re(9.20%) + D(39.38b)/V(256.77b) * Rd(0.93%) * (1-Tc(0.07)))
Discount Rate = 9.20% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -1.30%
[DCF Debug] Terminal Value 77.78% ; FCFF base≈6.68b ; Y1≈6.42b ; Y5≈6.26b
Fair Price DCF = 221.4 (EV 112.70b - Net Debt 29.53b = Equity 83.17b / Shares 375.7m; r=7.92% [WACC]; 5y FCF grow -5.31% → 2.90% )
EPS Correlation: 5.05 | EPS CAGR: -2.59% | SUE: 0.88 | # QB: 2
Revenue Correlation: 4.24 | Revenue CAGR: 0.88% | SUE: 3.38 | # QB: 4
EPS next Quarter (2026-03-31): EPS=5.33 | Chg30d=-0.255 | Revisions Net=-2 | Analysts=19
EPS current Year (2026-12-31): EPS=24.65 | Chg30d=-0.010 | Revisions Net=+0 | Growth EPS=+7.8% | Growth Revenue=+5.0%
EPS next Year (2027-12-31): EPS=26.99 | Chg30d=-0.291 | Revisions Net=+1 | Growth EPS=+9.5% | Growth Revenue=+5.3%