| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | 2 | 5 | 3 | — | 1 | 3 | 1 | — | — | 1 | 10 | — |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 1.85 |
—
—
—
|
| 2025 | 1.72 |
—
—
—
—
|
| 2024 | 1.56 |
—
—
—
—
|
| 2023 | 1.40 |
—
—
—
—
|
| 2022 | 1.20 |
—
—
—
—
|
| 2021 | 1.04 |
—
—
—
—
|
| 2020 | 0.88 |
—
—
—
—
|
| 2019 | 0.76 |
—
—
—
—
|
| 2018 | 0.68 |
—
—
—
—
|
| 2017 | 0.60 |
—
—
—
—
|
| 2016 | 0.60 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 8,080.00 | 5,570.00 | 10,105.00 | 4,064.00 |
| Receivables | 8,221.00 | 8,191.00 | 8,900.00 | 9,451.00 |
| Inventory | 5,088.00 | 4,978.00 | 5,425.00 | 5,627.00 |
| Other | 3,200.00 | 3,399.00 | 4,278.00 | 4,224.00 |
| 24,589.00 | 22,137.00 | 28,707.00 | 23,365.00 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 2,872.00 | 3,079.00 | 3,622.00 | 3,268.00 |
| ST’ Debt | — | — | — | — |
| Other | 2,689.00 | 2,852.00 | 2,710.00 | 2,918.00 |
| 14,012.00 | 13,332.00 | 15,189.00 | 15,069.00 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 11,005.00 | 11,994.00 | — | — |
—
|
| ’25 | 10,364.00 | 10,855.00 | 11,122.00 | 12,215.00 |
44,556.00
|
| ’24 | 10,345.00 | 10,541.00 | 10,598.00 | 11,395.00 |
42,879.00
|
| ’23 | 10,710.00 | 10,687.00 | 10,574.00 | 10,886.00 |
42,857.00
|
| ’22 | 11,818.00 | 10,970.00 | 10,677.00 | 11,450.00 |
44,915.00
|
| ’21 | 9,906.00 | 9,273.00 | 9,330.00 | 10,702.00 |
39,211.00
|
| ’20 | 6,230.00 | 6,917.00 | 8,521.00 | 10,550.00 |
32,218.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 1,192.00 | 2,125.00 | — | — |
—
|
| ’25 | 723.00 | 1,399.00 | 2,239.00 | 3,457.00 |
7,818.00
|
| ’24 | 1,251.00 | 1,960.00 | 2,166.00 | 3,290.00 |
8,667.00
|
| ’23 | 729.00 | 1,540.00 | 2,414.00 | 3,723.00 |
8,406.00
|
| ’22 | 2,202.00 | 1,528.00 | 1,937.00 | 3,487.00 |
9,154.00
|
| ’21 | 1,978.00 | 2,227.00 | 2,650.00 | 2,457.00 |
9,312.00
|
| ’20 | 356.00 | 1,886.00 | 2,708.00 | 3,339.00 |
8,289.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 825.00 | 1,679.00 | — | — |
—
|
| ’25 | 373.00 | 1,106.00 | 1,839.00 | 3,019.00 |
6,337.00
|
| ’24 | 908.00 | 1,675.00 | 1,914.00 | 2,827.00 |
7,324.00
|
| ’23 | 277.00 | 1,260.00 | 2,148.00 | 3,329.00 |
7,014.00
|
| ’22 | 1,564.00 | 1,034.00 | 1,394.00 | 2,943.00 |
6,935.00
|
| ’21 | 1,355.00 | 1,687.00 | 2,130.00 | 1,637.00 |
6,809.00
|
| ’20 | 107.00 | 1,619.00 | 2,343.00 | 2,754.00 |
6,823.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 4.43 | 4.68 | — | — |
—
|
| ’25 | 3.98 | 4.28 | 4.27 | 5.21 |
17.74
|
| ’24 | 3.46 | 4.04 | 4.25 | 4.78 |
16.53
|
| ’23 | 3.32 | 3.51 | 4.42 | 4.20 |
15.45
|
| ’22 | 5.61 | 4.22 | 3.79 | 4.01 |
17.63
|
| ’21 | 5.88 | 4.61 | 4.79 | 4.17 |
19.46
|
| ’20 | 1.97 | 2.90 | 4.84 | 6.24 |
15.96
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 475.77 | 415.60 | 493.30 | 385.46 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 664.27 | 609.85 | 627.88 | 610.97 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 130,000 | 122,000 | 125,000 | 125,000 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.35 | 0.35 | 0.34 | 0.36 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 44,915.00 | 42,857.00 | 42,879.00 | 44,556.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 42.24% | 39.90% | 41.28% | 40.93% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7,835.00 | 6,298.00 | 7,037.00 | 7,308.00 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 17.44% | 14.70% | 16.41% | 16.40% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6,960.00 | 5,955.00 | 6,338.00 | 6,721.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3,381.00 | 3,406.00 | 3,108.00 | 2,780.00 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 114.58 | 111.03 | 112.25 | 118.19 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 17.75 | 15.52 | 16.58 | 17.77 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 23.35 | 21.78 | 22.69 | 20.74 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (5.66) | (3.61) | (3.52) | (3.93) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 17.69 | 18.17 | 19.17 | 16.81 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 112.33 | 121.05 | 129.71 | 141.68 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 392.00 | 386.00 | 382.00 | 377.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 31.15 | 35.06 | 31.38 | 32.61 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.83 | 4.90 | 4.63 | 4.90 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.92 | 4.50 | 4.01 | 4.09 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.41 | 5.55 | 5.29 | 5.59 | ‡‡‡‡ | ‡‡‡ | ‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 35.05 | 33.94 | 31.00 | 39.29 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9,154.00 | 8,406.00 | 8,667.00 | 7,818.00 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (2,219.00) | (1,392.00) | (1,343.00) | (1,481.00) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6,935.00 | 7,014.00 | 7,324.00 | 6,337.00 | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8,219.00 | 10,577.00 | 8,805.00 | 13,518.00 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 34,760.00 | 31,308.00 | 29,061.00 | 35,852.00 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 26,236.00 | 23,228.00 | 23,491.00 | 25,747.00 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 44,032.00 | 46,724.00 | 49,551.00 | 53,415.00 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.23% | 6.12% | 6.46% | 6.46% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.47% | 6.13% | 6.28% | 6.12% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 16.37% | 13.21% | 13.16% | 13.02% | — | — | — |
ROE
|
Thermo Fisher Scientific (TMO) has solidified its dominance in life sciences and diagnostics, leveraging strategic acquisitions and COVID-era tailwinds to drive revenue from $18.3 billion in 2016 to a peak of $44.9 billion in 2022—a 145% surge. Despite a post-pandemic dip to flat $42.9 billion in 2024 amid biosciences slowdowns, fundamentals remain robust, with revenue per employee at $343,000 signaling efficient scaling and positioning TMO to capitalize on AI-driven drug discovery, gene therapies, and personalized medicine.
Profitability endures margin pressures, with EBT margins steady at 16.4% and EPS projected to climb 26% to $19.60 by 2026. Free cash flow per share hit $19.17 in 2024, underpinning a fortress-like balance sheet (shareholders’ equity up 130% to $49.5 billion) and manageable 3x net debt to EBITDA. Trading at a discounted forward P/E of 26x and PS of 4.6x—below historical norms—this creates an attractive entry amid recent share pullbacks from $610 highs.
Analysts forecast 4-5% annual revenue growth through 2027, with 22-49% upside potential, fueled by biopharma capex rebound and innovations in sequencing and CRISPR. Routine insider sells reflect diversification, not distress, in a classic post-cycle setup primed for multi-year gains.
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