TMO

Thermo Fisher Scientific Inc.

$684.89

+$11.07 (1.64%)Oct 26 close

Health CareS&P 500 Compare Technicals

Model valuationLooks expensiveDCF base $268

1M 3M 6M 1Y 2Y

TMOSPY

Wall St. Highest PT $830.00 (+21.2%) Wall St. Avg PT $750.92 (+9.6%)

Underwater Drawdown %Max DD -31.4%Current -1.7%

Relative Strength vs SPY+9.0% vs SPYOutperforming

+$5.51 (0.81%)

+$9.89 (1.47%)

+$125.79 (22.50%)

+$217.68 (46.59%)

YTD

+$107.03 (18.52%)

+$114.39 (20.05%)

Chart

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Ratings & dials

1m · 5m · 15m · 1h · 4h · 1D

Analyst & Morningstar ratings

Consensus · Targets · Morningstar

Wall Street analyst consensus

Strong Buy

25 analysts · mean score 1.44

1 = Strong Buy · 5 = Sell

Wall Street consensus

Analyst price targets

Current price$684.89

Average target$750.92

+$66.03 (+9.6%) upsideaverage target vs current price

CurrentAverageMedian

Low$560.00

Median$750.00

High$830.00

12-month Wall Street target range

Third-party ratings, not SURVYR.'s views.

Health check

Quality

Average

Piotroski F-score 5 of 9

See the tests

✓Positive net income
✓Positive operating cash flow
✗Return on assets improved
✓Cash flow above net income
✗Long-term debt / assets fell
✓Current ratio improved
✓No share dilution
✗Gross margin improved
✗Asset turnover improved

Computed by SURVYR. from the company's SEC filings (latest balance sheet Jun 27, 2026). Descriptive, not a forecast.

Key stats & company

Market value$249.1B

P/E (last 12 months)35.5

P/E (next 12 months, estimated)24.3

52-week range$435.27 – $705.79

Revenue growth (latest quarter vs a year ago)+9.1%

Dividend yield0.28%

Analyst consensusStrong Buy (25)

Average analyst price target$750.92 (+10%)

What they do

Thermo Fisher Scientific Inc. provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services 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.

Healthcare · Diagnostics & Research

Valuation and fundamentals

Valuation & fundamentals

Bottom line

Looks expensive

Model read-out from the numbers below, not advice. Score -4 (DCF counts double).

▼DCF (base case)below the price by 61%

▼Forward P/E vs sector24.3x vs median 18.0x

•Piotroski F-score5/9

▼Net debt / EBITDA3.7x

•Analyst target+10% (25 analysts)

Discounted cash flow

Bear

$126

-82%

growth -1% · disc. 9.6% · term. 2.0%

Base

$268

-61%

growth 4% · disc. 8.6% · term. 2.5%

Bull

$473

-31%

growth 7% · disc. 7.6% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal

Today's price assumes free cash flow grows about 14% a year for 10 years.

Implied

+14%/yr

FCF, last 3 yrs

-3%/yr

FCF, last 5 yrs

-2%/yr

Revenue, last 3 yrs

+0%/yr

Revenue, last 5 yrs

+7%/yr

Same inputs as the DCF above: trailing free cash flow 7.3B, 8.6% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.

Edit assumptions · recalculates instantly

Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-27). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 0.88 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Health Care

P/E (trailing)

sector median 31.2× · 58th pct

35.5×
pricier

Forward P/E

sector median 18.0× · 69th pct

24.3×
pricier

EV / EBITDA

sector median 16.2× · 82nd pct

27.7×
pricier

Price / sales

sector median 3.3× · 70th pct

5.4×
pricier

Price / book

sector median 3.5× · 63rd pct

4.7×
pricier

FCF yield

sector median 4.0% · 35th pct

2.9%
pricier

Forward EPS $27.74 vs trailing $18.96 (+46% expected growth). Forward P/E uses analysts' next-12-month estimate.

Backlog (remaining performance obligations)

RPO

$29.7B

as of 2026-06-27

vs a year ago

+19%

YoY

× TTM revenue

0.64×

coverage

24-09

24-12

25-03

25-06

25-09

25-12

26-03

26-06

Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).

Quality & financial health

Gross margin

–

Operating margin

17.6%

FCF margin

15.8%

Net margin

15.0%

Return on equity

13.2%

Return on invested capital

8.2%

Net debt / EBITDA

3.7×

Current ratio

1.6×

Interest cover

5.6×

Cash conversion (OCF/NI)

1.3×

Piotroski F-score 5/9 · last two fiscal years

✓ Positive net income✓ Positive operating cash flow✗ Return on assets improved✓ Cash flow above net income✗ Long-term debt / assets fell✓ Current ratio improved✓ No share dilution✗ Gross margin improved✗ Asset turnover improved

Analysts

Mean target

$751

+10%

Analysts

Strong Buy

Range

$560–$830

low – high

● price · ◆ mean target

Annual history

FY	Revenue	Net income	Free cash flow
2025	$44.6B	$6.7B	$6.3B
2024	$42.9B	$6.3B	$7.3B
2023	$42.9B	$6.0B	$6.9B
2022	$44.9B	–	$6.9B
2021	$39.2B	–	$6.8B
2020	$32.2B	–	$6.8B

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR -0.3%.

For information only · Important disclosures

Grades vs sector

Momentum

52nd percentile in sector

C+

12-1 return: +19.4%
Percentile within its GICS sector across the S&P 1500.

Growth

61st percentile in sector

B-

Revenue growth (YoY): +10.5%
Percentile within its GICS sector across the S&P 1500.

Value

22nd percentile in sector

Forward E/P: 4.0% · EBITDA/EV: 4.0%
Percentile within its GICS sector across the S&P 1500.

Profitability

65th percentile in sector

Profit margin: +15.0% · Return on equity: +13.5%
Percentile within its GICS sector across the S&P 1500.

Revisions

Not enough data yet

–

EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Systematic Models

Not held by any of our 7 live models right now.

Quality Growth

Outside this model's universe or screens

Momentum Top 15

ranked 149 of 499 · 12-month momentum 27.6%

Momentum Blend

Not in the current book

New Highs Growth

Outside this model's universe or screens

SURVYR. Barbell Momentum & T-Bill Shield

Outside this model's universe or screens

SURVYR. Physical AI Grid & Power

Outside this model's universe or screens

SURVYR. Long Book

Not in the current book

Earnings & events

TMO earningsReported Oct 21, 2026▲ Above estimates

Results · Before the open

EPS actual$6.68

EPS estimate$6.40

Surprise+4.3%

RevenueNot in our data yet

Revenue for this quarter is not in our data yet. It arrives with the quarterly filing.

Next report

Thu Jan 28, 2027Before the open

EPS consensus$7.14

Revenue consensus–

Last 4 quarters · EPS vs estimate

Oct 21, 2026$6.68est $6.40+4.3%Above estimates

Jul 23, 2026$6.03est $5.71+5.5%Above estimates

Apr 23, 2026$5.44est $5.24+3.8%Above estimates

Jan 29, 2026$6.57est $6.45+1.9%Above estimates

In line = within 1% of the estimate.

EstimateActual (beat)Actual (miss)

News & catalysts

More news

Company News for Oct 22, 2026

Zacks · Oct 22

Thermo Fisher Scientific: 3 Key Takeaways for Long-Term Investors

Nasdaq · Oct 21

Thermo Fisher (TMO) Q3 2026 Earnings Call Transcript

Nasdaq · Oct 21

Why is Thermo Fisher Scientific stock sliding today?

Investing.com · Oct 21

Thermo Fisher Scientific Profit Climbs In Q3

Nasdaq · Oct 21

Insider trades

Pettiti Gianluca

President & COO · 2026-08-31

Sell
$2.3M

Pettiti Gianluca

President & COO · 2026-08-31

Sell
$245.8K

Casper Marc N

Director, Chairman & CEO · 2026-08-24

Sell
$39.0K

Casper Marc N

Director, Chairman & CEO · 2026-08-24

Sell
$49.6K

Casper Marc N

Director, Chairman & CEO · 2026-08-24

Sell
$20.7K

Casper Marc N

Director, Chairman & CEO · 2026-08-24

Sell
$63.2K

Casper Marc N