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Friday 6 November 2026 Export TMO’s income statement to Excel — free account

Thermo Fisher Scientific Inc.

TMO Healthcare Diagnostics & Research

Thermo Fisher Scientific Inc.’s revenue for fiscal 2025 (year ended December 2025) was $44.6 billion, up 3.91% from fiscal 2024.

Revenue
+9.13%
EPS
+8.64%
Free cash flow
+15.0%
Total debt
+22.8%

Quarter to September 2026, against a year earlier

679.52 26.64 −3.77%
Market cap
$250.8B
P/E
35.8×
Fwd P/E
35.7×
Dividend yield
0.27%
F-score
5/9
Altman Z
3.84
Beneish M
−2.46
Dividend safety
88/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Thermo Fisher Scientific Inc. (TMO) EV/EBITDA

Alert me on EV/EBITDA

As of 5 November 2026, Thermo Fisher Scientific Inc. (TMO) trades at a EV/EBITDA of 24.6×. Over the past ten years it has ranged from 14.0× (September 2015) to 27.9× (September 2020); the current reading is higher than 96% of that period. That is in line with the Diagnostics & Research industry median of 23.4× and above the Healthcare sector median of 8.4×.

EV/EBITDA, daily

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Annual newest first

Period EV/EBITDA Change
FY2025 23.2× 9.05%
FY2024 21.3× (6.39%)
FY2023 22.7× 12.78%
FY2022 20.1× (12.54%)
FY2021 23.0× 20.65%
FY2020 19.1× (9.28%)
FY2019 21.0× 20.61%
FY2018 17.5× (7.07%)
FY2017 18.8× 10.99%
FY2016 16.9× 0.77%

Quarterly newest first

Period EV/EBITDA Change
Sep 2026 24.4× 22.52%
Jun 2026 19.9× (2.81%)
Mar 2026 20.5× (11.54%)
Dec 2025 23.2× 12.92%
43 more quarters

Against its own ten years

Low 14.0× High 27.9×
Ten-year median 19.8×
Current reading's percentile 96

EV/EBITDA against peers

Company EV/EBITDA
NTRA Natera, Inc. compare n/m
IQV IQVIA Holdings Inc. compare 16.5×
DHR Danaher Corporation compare 22.3×
TMO Thermo Fisher Scientific Inc. 24.6×
ILMN Illumina, Inc. compare 26.4×
A Agilent Technologies, Inc. compare 26.4×
MTD Mettler-Toledo International, Inc. compare 27.4×
IDXX IDEXX Laboratories, Inc. compare 31.8×
WAT Waters Corporation compare 51.9×
Diagnostics & Research industry median 23.4×
Healthcare sector median 8.4×
Market median 10.9×

What EV/EBITDA is

Enterprise Value over EBITDA tells an investor how the market values a whole company, with debt added and cash taken off, against its operating earnings.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ EBITDA (TTM)

The full definition of EV/EBITDA →

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