Thermo Fisher Scientific Inc.

Thermo Fisher Scientific Inc.

TMO

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Market Cap$211.18B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Thermo Fisher Scientific Inc.Thermo Fisher Scientific Inc.30.50.32%13%4.60.8

Earnings Call Q2 2026

July 23, 2026 - AI Summary

Strong Q2 results + broad-based momentum - Revenue +$10% YoY to $11.99B; 5% organic growth; 10% reported included ~5% from acquisitions and a slight FX tailwind. - Adjusted EPS +13% to $6.03 (GAAP EPS $4.68, +9% YoY). - Profitability: Adjusted operating income +15% to $2.73B; adjusted margin +90 bps to 22.8%; gross margin 41.4%. - Management emphasized customer activity strengthened across end markets (most notable “~60% of revenue progressing nicely”), supporting share gain and a “clean beat” versus prior guidance.
End-market performance: Pharma/Biotech and Instruments leading; Academic/Gov stabilizing - Pharma & Biotech: mid-single-digit growth, led by Bioproduction, Clinical Research, and Research & Safety. - Academic & Government: low single-digit growth; specifically called out Chromatography/Mass Spec returning to growth. - Industrial & Applied: mid-single-digit growth, led by Electron Microscopy and Chemical Analysis. - Diagnostics & Health Care: mid-single-digit growth driven by Health Care channel and Immunodiagnostics. - Analytical Instruments posted especially strong results: reported and organic +7% YoY, adjusted operating income +30% and margin up 420 bps to 23.0%.
2026 guidance raised (top + bottom line) with improved H2 outlook - Full-year revenue raised to $47.4B–$48.1B (~6%–8% reported growth vs. 2025); organic growth now ~4%, still guided 3%–4% but expected upper end. - Full-year adjusted EPS raised to $24.93–$25.33 (9%–11% growth), midpoint +$0.25 vs prior guidance. - Key bridge components to the EPS midpoint increase: - +$0.30 from Q2 outperformance - +$0.05 from improved 2H revenue outlook - (-$0.05) impact from microbiology divestiture - (-$0.05) FX headwind in 2H (net) - Phasing expectation unchanged meaningfully: organic growth stepped from 3% (1H) to 4% (2H) with similar Q3/Q4 growth—management framed as planning conservatism/structure more than a major change in fundamentals.

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$577.18

Target Price by Analysts

1.6% upsideThermo Fisher Scientific Target Price DetailsTarget Price
$376.27

Current Fair Value

33.8% downside

Overvalued by 33.8% based on the discounted cash flow analysis.

Share Statistics

Market cap$211.18 Billion
Enterprise Value$249.66 Billion
Dividend Yield$1.80 (0.32%)
Earnings per Share$17.77
Beta0.87
Outstanding Shares371,000,000

Return

Return on Equity13.24%ROE
Return on Assets6.17%
Return on Invested Capital8.40%

Valuation & Multiples

P/E Ratio30.52P/E Ratio
PEG414.7PEG
Price to Sales4.58Price to Sales
Price to Book Ratio4.0Price to Book Ratio
Enterprise Value to Revenue5.39
Enterprise Value to EBIT30.3
Enterprise Value to Net Income35
Total Debt to Enterprise0.17
Debt to Equity0.81Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 23, 2026
EPS Estimate
$5.72
Average shareholder expectation
Revenue Estimate
$11.71 B
Average shareholder expectation

Next Earnings Call

Expected Date
October 28, 2026
EPS Estimate
$6.37
Average shareholder expectation
Revenue Estimate
$11.95 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.0000▼ 140.05%
Total Calls-▼ 100.00%
Total Puts-▼ 100.00%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %2.87%▼ 85.46%
Total Invested$5.14B▼ 96.87%
Investors Holding568▼ 2087.00%

ESG Score

No data

About Thermo Fisher Scientific Inc.

75,000 employees
CEO: Marc Casper

Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue exceeding $25 billion. Its Mission is to enable our customers to make the world healthier, cleaner and safer. Whether the customers are acceleratin...

Relevant Senate Committees

Joint Committee on Taxation

While advisory, its technical expertise and 'scoring' are essential for all tax legislation. This directly influences corporate tax rates, R&D credits, and other fiscal policies that significantly impact Thermo Fisher Scientific's financial performance and investment decisions.

Finance

This committee controls critical areas like corporate taxation (impacting TMO's profitability and investment), trade policies (tariffs affecting global supply chains), and entitlement spending (Medicare influencing demand for diagnostics and therapies).

Appropriations

This committee directly allocates discretionary federal spending. Its subcommittees determine precise funding for scientific research, healthcare programs, and defense initiatives, which are key revenue streams and customer bases for Thermo Fisher Scientific.

Health, Education, Labor, and Pensions

This committee directly regulates the FDA (critical for TMO's diagnostics, therapies, and pharmaceutical services) and influences the NIH (a major funder for TMO's life science research customers). It also impacts labor laws affecting TMO's workforce.

Judiciary

This committee oversees antitrust laws and intellectual property. Antitrust regulations directly impact Thermo Fisher Scientific's M&A strategies, while strong intellectual property protection is critical for its innovative scientific products and technologies.

Select Committee on Intelligence

Members receive classified briefings on global threats, including biological and chemical risks. This non-public information could directly influence government priorities and funding for biodefense, pandemic preparedness, and related research, creating high demand for TMO's diagnostic and research tools.