Thermo Fisher Scientific Inc. (TMO) Stock

Thermo Fisher Scientific Inc. (TMO) is a Technology stock trading at $627.62 (as of 2026-08-20), with a market capitalization of $233.24B and a trailing P/E of 33.5. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Thermo Fisher Scientific provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services. Its offerings include reagents, instruments, consumables, and related services for research and drug and vaccine development, as well as diagnostic testing products and instruments, serving pharmaceutical, biotechnology, academic, government, clinical, and other healthcare and industrial customers across multiple regions.

Understand Thermo Fisher Scientific Inc.: how it makes money

Thermo Fisher Scientific sells life sciences solutions and laboratory products, including reagents, instruments, consumables, analytical instruments, and specialty diagnostics, and also provides biopharma services and clinical research support to pharma, biotech, and other customers.

Thermo's profit engine blends product sales (reagents, instruments, and consumables, plus analytical instruments and specialty diagnostics) with service revenue (biopharma services and clinical research, including its PPD business).

Revenue by segment (latest quarter)
LPBS$6.0B
LifeSci$2.6B
Analytical$1.9B
SpecDx$1.1B

Business quality (Mixed): This view is grounded in reported segment revenue labels, but the only available operating KPIs here are revenue-based, with no deeper operational activity metrics provided.

Valuation: At 27× earnings, TMO trades 55% below the Measuring & Control Equipment average (60×). Note: one-time items can distort reported P/E.

Bull case

  • Broad, product plus services mix: Thermo sells reagents, instruments, and consumables, and also provides biopharma services and clinical research (PPD business revenue contribution of 1.9B).
  • Multiple commercial lines: Reported segment revenue contributions include Laboratory Products and Biopharma Services (6.04B), Life Sciences (2.64B), Analytical Instruments (1.89B), and Specialty Diagnostics (1.14B).

Bear case

  • COVID-19 demand is a meaningful swing factor: The quarter includes COVID-19 response-related revenue of 2.45B, with smaller components shown for vaccines and therapies (0.18B) and testing (0.05B), which can be volatile over time.
  • Intersegment complexity: Intersegment eliminations are reported at 0.47B, which can make segment-level comparisons and trend analysis more complex.
Valuation — source: SEC EDGAR (first-party)
Price$627.62
Market Cap$233.24B
P/E Ratio33.5
EV / EBITDA29.5
Price / Book4.43
Price / Sales5.03
FCF Yield3.1%
DCF Value (model)$98.53
DCF Upside vs Price-84.3%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$44.56B
Net Margin15.0%
Revenue Growth (YoY)10.5%
EPS Growth (YoY)9.3%
FCF Growth (YoY)51.6%
Financial Health — source: SEC EDGAR
Altman Z-Score3.99 (safe)
Valuation vs Sector & Industry
Stock P/E33.5
Sector P/E (Technology)33.9
Industry P/E (Measuring & Control Equipment)51.8
vs Sector-1.3%
vs Industry-35.4%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Insider Sells (12mo)26
Top Institutional HolderVANGUARD GROUP INC ($19.78B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorTechnology
IndustryMeasuring & Control Equipment
CEOMarc N. Casper
Employees125,000
CountryUS
IPO Date1980-03-17

Related Companies (Business model: Medical Devices / Life Science Tools; 8 closest by market cap; US-domiciled)

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  • Waters Corporation (WAT)
  • Illumina, Inc. (ILMN)
  • Mettler-Toledo International Inc. (MTD)
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TMO earnings history · TMO institutional & insider holders · TMO KPIs & operating metrics · TMO financials · TMO investor presentations & press releases · TMO SEC filings · TMO peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.