# Thermo Fisher Scientific Inc (TMO) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Healthcare / Biotechnology. Price $613.78, market value $226.9 billion.

## Valuation
- **P/E (trailing): 33.0×** (5-yr avg 32.5×, 3-yr avg 32.7×). Thermo Fisher Scientific Inc trades at 33.0× trailing earnings, close to its own five-year average of 32.5×. The Healthcare median in the September 2026 study was 28.5×. Forward P/E is 22.3×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 3.05**. A PEG of 3.05 means the P/E is high relative to expected earnings growth; the price already assumes a lot.
- **Price / sales: 4.9×**. Each dollar of revenue is priced at 4.9×.
- **Price / book: 4.3×**. The shares trade at 4.3× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: 3.2%** (5-yr avg 3.2%). Free cash flow equals 3.2% of the market value, in line with its five-year average of 3.2%.
- **Earnings yield: 3.0%**. The inverse of the P/E: 3.0% of the price is earned each year.

## Profitability
- **Operating margin: 17.6%**. 17.6% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 15.0%**. 15.0% of each dollar of sales reaches the bottom line.
- **Return on equity: 12.6%**. 12.6% on shareholders' equity is solid.
- **Return on invested capital: 7.5%**. Return on all capital, debt included, is 7.5%.
- **Return on assets: 6.3%**. Each dollar of assets produces 6.3% of profit.

## Growth
- **Revenue growth (1 yr): 3.9%** (3-yr -0.3%/yr, 5-yr 6.7%/yr). Revenue grew 3.9% over the last year, against 6.7% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 7.3%** (3-yr 0.2%/yr, 5-yr 2.1%/yr). Earnings per share rose 7.3%, roughly in step with revenue.
- **Free-cash-flow growth (3 yr): -3.1%/yr**. Free cash flow has compounded at -3.1% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.80**. Debt is 0.80 times equity, moderate leverage.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 0.31%** ($1.80 per share, trailing). Thermo Fisher Scientific Inc yields 0.31%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 9%** (9% of free cash flow). 9% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 14**. 14 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 14.3%/yr** (1-yr 10.3%). The dividend has compounded at 14.3% a year over five years, doubling roughly every 5 years at that pace.

## Analyst view
- **Analyst consensus: buy** (27 analysts). 27 analysts cover Thermo Fisher Scientific Inc; the consensus is buy, with an average price target of $638.11 (+4% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 25.8%** (YTD 6.1%, 3-mo 29.9%). The shares are up 25.8% over twelve months including dividends.
- **From 52-week high: -5.1%** (41.0% above the low). Trading 5% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 57**. An RSI of 57 is neutral.
- **Beta (1 yr): 0.64** (volatility 31%). Beta of 0.64 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=TMO · Page: https://foliofundamentals.com/stocks/tmo

Not investment advice.