US · USD

TMO

Thermo Fisher Scientific Inc

$675.05-0.67% (-$4.56)Updated 9/30/26, 5:23 PM

Day's range: $671.63 – $683.63
Day's volume: $1.5B
52-week range: $437.57 – $679.61

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TMO in numbers

Market cap: $249.6B

P/E: 35.74

P/B: 4.74

Dividend yield (12m): 0.27%

The 12-month dividend yield of TMO is 0.27%, above its 5-year average of 0.24%.

TMO price history

10/01/202509/30/2026

Compare with

TMO risk and return

Monthly closes adjusted for splits and distributions.

Metric	12 months	36 months	60 months
Return	+19.39%	+53.25%	+8.17%
Volatility (annualized)	23.40%	27.02%	25.99%
Largest drawdown	-18.79%	-34.78%	-39.12%
Positive months	6/12	19/36	30/60

How much did investing in TMO return?

Amount invested

$1,000.00 invested on 10/01/2021 would be worth $1,081.65 today.

Value today in TMO: $1,081.65

Return over the period: +8.17%

Return per year: +1.58%

In the S&P 500: $1,661.44

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

TMO fundamentals

Valuation

P/E
35.74
P/B
4.74
EV/EBITDA
—
EV/EBIT
35.33
EV/Revenue
6.21
P/EBIT
30.64
P/S
5.39
P/OCF
27.69
P/FCF
34.11
Earnings yield
2.83%
PEG ratio
—
Earnings per share
$18.89
Book value per share
$142.47

Debt

Net debt
$38.2B
Net debt/EBITDA
—
Net debt/Equity
0.73
Debt/Equity
0.80
Current ratio
1.55
Quick ratio
1.18
Cash ratio
0.27

Efficiency

Gross margin
—
EBITDA margin
—
Operating margin
17.58%
Net margin
15.07%
Asset turnover
0.41

Profitability

ROE
13.26%
ROA
6.17%
ROIC
8.26%
Payout
9.74%

What is TMO's fair price?

Two classic value formulas, with today's numbers. The current price is $675.05.

Graham's fair price: $246.07; 63.55% below the price

√(22.50 × $18.89 × $142.47)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price: $22.37; 96.69% below the price

$1.34 (5-year average) ÷ 6%

Décio Bazin only bought stocks yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years over 6%.

Graham ignores growth and debt; Bazin assumes past distributions repeat. They are references to compare, not a buy recommendation.

TMO's indicators by year

Multiples at each year's closing price; margins and returns from that year's statements.

Indicator	2025	2024	2023	2022	2021	2020	2019	2018
P/E	32.03	30.97	33.99	30.50	33.78	—	—	—
P/B	4.03	3.96	4.33	4.83	6.40	5.32	4.37	3.24
EV/EBITDA	—	—	—	—	—	—	—	17.45
Dividend yield	0.29%	0.29%	0.25%	0.21%	0.15%	0.18%	0.23%	0.29%
Earnings per share	$18.09	$16.80	$15.62	$18.06	$19.76	—	—	—
Book value per share	$143.77	$131.43	$122.56	$114.10	$104.28	$87.63	$74.41	$69.14
ROE	12.58%	12.78%	12.74%	15.83%	18.94%	—	—	—
ROIC	8.69%	8.86%	8.93%	10.96%	12.35%	15.89%	9.41%	7.76%
EBITDA margin	—	—	—	—	—	—	—	24.84%
Net margin	15.08%	14.78%	13.90%	15.50%	19.71%	—	—	—
Net debt/EBITDA	—	—	—	—	—	—	—	2.70

TMO's financial statements

Line	2025	2024	2023	2022	2021	2020
Net revenue	$44.6B	$42.9B	$42.9B	$44.9B	$39.2B	$32.2B
Cost of revenue	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—
EBITDA	—	—	—	—	—	—
EBIT	$7.7B	$7.3B	$6.9B	$8.4B	$10B	$7.8B
Financial result	—	—	—	—	—	—
Income before tax	$7.3B	$7B	$6.3B	$7.8B	$8.8B	$7.2B
Income tax	-$547M	-$657M	-$284M	-$703M	-$1.1B	-$850M
Net income	$6.7B	$6.3B	$6B	$7B	$7.7B	—

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does TMO pay dividends?

Announced payments
Type	Last day to own	Payment	Per share
Dividend	09/14/2026	10/15/2026	$0.47

Dividend yield per year

0.32%2017
0.29%2018
0.23%2019
0.18%2020
0.15%2021
0.21%2022
0.25%2023
0.29%2024
0.29%2025
0.20%2026

Payment history
Type	Last day to own	Payment	Per share
Dividend	06/12/2026	07/15/2026	$0.47
Dividend	03/12/2026	04/15/2026	$0.47
Dividend	12/12/2025	01/15/2026	$0.43
Dividend	09/12/2025	10/15/2025	$0.43
Dividend	06/12/2025	07/15/2025	$0.43
Dividend	03/13/2025	04/15/2025	$0.43
Dividend	12/12/2024	01/15/2025	$0.39
Dividend	09/12/2024	10/15/2024	$0.39
Dividend	06/13/2024	07/15/2024	$0.39
Dividend	03/13/2024	04/15/2024	$0.39
Dividend	12/13/2023	01/16/2024	$0.35
Dividend	09/13/2023	10/13/2023	$0.35

See all 39 distributions

Earlier distributions
Type	Last day to own	Payment	Per share
Dividend	06/13/2023	07/14/2023	$0.35
Dividend	03/13/2023	04/14/2023	$0.35
Dividend	12/13/2022	01/16/2023	$0.30
Dividend	09/13/2022	10/14/2022	$0.30
Dividend	06/13/2022	07/15/2022	$0.30
Dividend	03/14/2022	04/14/2022	$0.30
Dividend	12/13/2021	01/14/2022	$0.26
Dividend	09/13/2021	10/15/2021	$0.26
Dividend	06/11/2021	07/15/2021	$0.26
Dividend	03/12/2021	04/16/2021	$0.26
Dividend	12/11/2020	01/15/2021	$0.22
Dividend	09/11/2020	10/15/2020	$0.22
Dividend	06/11/2020	07/15/2020	$0.22
Dividend	03/12/2020	04/16/2020	$0.22
Dividend	12/13/2019	01/15/2020	$0.19
Dividend	09/13/2019	10/15/2019	$0.19
Dividend	06/12/2019	07/16/2019	$0.19
Dividend	03/13/2019	04/16/2019	$0.19
Dividend	12/13/2018	01/15/2019	$0.17
Dividend	09/13/2018	10/15/2018	$0.17
Dividend	06/13/2018	07/16/2018	$0.17
Dividend	03/13/2018	04/16/2018	$0.17
Dividend	12/13/2017	01/15/2018	$0.15
Dividend	09/13/2017	10/16/2017	$0.15
Dividend	06/12/2017	07/17/2017	$0.15
Dividend	03/10/2017	04/17/2017	$0.15
Dividend	12/12/2016	01/16/2017	$0.15

About Thermo Fisher Scientific

Sector: Manufacturing

Questions about TMO

How much is TMO today?

TMO is at $675.05 (-0.67% on the day), last traded on 09/30/2026.

How much did TMO pay in dividends in 2025?

TMO paid $1.68 per share in 2025, a dividend yield of 0.29%.

When is the next TMO dividend?

The next announced payment is $0.47 per share on 10/15/2026.

What are the P/E and P/B of TMO?

TMO trades at a P/E of 35.74 and a P/B of 4.74.

How much did TMO return in 12 months?

TMO returned 19.39% in 12 months, with annualized volatility of 23.40% and a largest drawdown of -18.79%.