Thermo Fisher Scientific Inc.

NYSE:TMO Stock Report

Market Cap: US$184.4b

Thermo Fisher Scientific Valuation

Is TMO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of TMO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: TMO ($496.11) is trading above our estimate of future cash flow value ($304.61)

Significantly Below Future Cash Flow Value: TMO is trading above our estimate of future cash flow value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TMO?

Key metric: As TMO is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for TMO. This is calculated by dividing TMO's market cap by their current earnings.
What is TMO's PE Ratio?
PE Ratio27.5x
EarningsUS$6.70b
Market CapUS$184.37b

Price to Earnings Ratio vs Peers

How does TMO's PE Ratio compare to its peers?

The above table shows the PE ratio for TMO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average35.6x
DHR Danaher
37.3x17.48%US$134.2b
A Agilent Technologies
25.2x13.27%US$32.5b
WAT Waters
48.9x18.75%US$31.4b
MTD Mettler-Toledo International
30.9x6.25%US$26.8b
TMO Thermo Fisher Scientific
27.5xn/aUS$184.4b

Price-To-Earnings vs Peers: TMO is good value based on its Price-To-Earnings Ratio (27.5x) compared to the peer average (33x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does TMO's PE Ratio compare vs other companies in the US Life Sciences Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
TMO 27.5xIndustry Avg. 37.3xNo. of Companies3PE020406080100+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TMO is good value based on its Price-To-Earnings Ratio (27.5x) compared to the North American Life Sciences industry average (37.3x).

Price to Earnings Ratio vs Fair Ratio

What is TMO's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TMO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio27.5x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate TMO's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst TMO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$496.11
US$658.40
+32.71%
6.39%US$750.00US$575.00n/a25
Apr ’27US$494.54
US$661.40
+33.74%
5.82%US$750.00US$595.00n/a25
Mar ’27US$521.11
US$666.46
+27.89%
5.72%US$750.00US$595.00n/a24
Feb ’27US$578.61
US$665.79
+15.07%
5.74%US$750.00US$595.00n/a24
Jan ’27US$579.45
US$639.39
+10.34%
6.63%US$750.00US$575.00n/a23
Dec ’26US$585.15
US$619.96
+5.95%
5.90%US$675.00US$533.16n/a21
Nov ’26US$567.39
US$610.96
+7.68%
6.52%US$675.00US$533.16n/a21
Oct ’26US$530.73
US$546.14
+2.90%
5.83%US$630.00US$500.00n/a23
Sep ’26US$492.72
US$553.61
+12.36%
9.86%US$767.00US$490.00n/a25
Aug ’26US$463.04
US$551.62
+19.13%
10.45%US$767.00US$450.00n/a26
Jul ’26US$421.47
US$554.04
+31.45%
11.84%US$767.00US$450.00n/a27
Jun ’26US$402.82
US$566.22
+40.56%
11.29%US$767.00US$450.00n/a28
May ’26US$419.89
US$570.17
+35.79%
10.51%US$767.00US$475.00n/a28
Apr ’26US$482.97
US$659.11
+36.47%
6.04%US$767.00US$560.77US$494.5428
Mar ’26US$528.96
US$664.26
+25.58%
5.00%US$767.00US$585.20US$521.1129
Feb ’26US$597.75
US$660.39
+10.48%
5.14%US$767.00US$585.20US$578.6129
Jan ’26US$520.23
US$649.80
+24.91%
5.82%US$767.00US$585.20US$579.4529
Dec ’25US$529.63
US$653.94
+23.47%
5.84%US$767.00US$585.20US$585.1528
Nov ’25US$557.92
US$656.23
+17.62%
5.55%US$767.00US$600.00US$567.3927
Oct ’25US$612.94
US$652.08
+6.39%
5.93%US$767.00US$565.00US$530.7326
Sep ’25US$615.07
US$632.44
+2.82%
4.56%US$690.00US$565.00US$492.7225
Aug ’25US$621.77
US$631.92
+1.63%
4.41%US$677.00US$565.00US$463.0425
Jul ’25US$541.72
US$628.80
+16.07%
4.46%US$677.00US$553.00US$421.4725
Jun ’25US$567.98
US$627.47
+10.47%
4.45%US$677.00US$553.00US$402.8225
May ’25US$574.99
US$624.45
+8.60%
4.77%US$677.00US$553.00US$419.8926
Apr ’25US$577.45
US$599.75
+3.86%
5.49%US$677.00US$520.00US$482.9726
US$658.4
Fair Value
24.6% undervalued intrinsic discount
25
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/04/12 03:12
End of Day Share Price 2026/04/10 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Thermo Fisher Scientific Inc. is covered by 52 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kadambari DaptardarAccountability Research Corporation
David ToungArgus Research Company
Catherine Ramsey SchulteBaird