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Saturday 17 October 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. In the quarter to June 2026, revenue grew 10.5%, EPS grew 9.35%, free cash flow grew 51.8% and total debt rose 18.7%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years.

690.00 6.49 −0.93%
Market cap
$257.5B
P/E
37.1×
Fwd P/E
23.7×
Dividend yield
0.27%
F-score
5/9
Altman Z
3.84
Beneish M
−2.46
Dividend safety
88/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Thermo Fisher Scientific Inc. (TMO) P/B ratio

Alert me on P/B ratio

As of 16 October 2026, Thermo Fisher Scientific Inc. (TMO) trades at a P/B ratio of 4.9×. Over the past ten years it has ranged from 2.3× (September 2015) to 6.8× (December 2021); the current reading is higher than 75% of that period. That is above the Diagnostics & Research industry median of 3.1× and above the Healthcare sector median of 2.3×.

P/B ratio, daily

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Annual newest first

Period P/B ratio Change
FY2025 4.1× 1.98%
FY2024 4.0× (10.79%)
FY2023 4.5× (8.72%)
FY2022 4.9× (23.47%)
FY2021 6.4× 20.42%
FY2020 5.3× 22.03%
FY2019 4.4× 34.28%
FY2018 3.3× 8.72%
FY2017 3.0× 13.85%
FY2016 2.6× (0.61%)

Quarterly newest first

Period P/B ratio Change
Jun 2026 3.5× 0.28%
Mar 2026 3.5× (13.92%)
Dec 2025 4.1× 13.82%
Sep 2025 3.6× 18.33%
42 more quarters

Against its own ten years

Low 2.3× High 6.8×
Ten-year median 4.0×
Current reading's percentile 73

P/B ratio against peers

Company P/B ratio
WAT Waters Corporation compare 2.8×
DHR Danaher Corporation compare 3.1×
TMO Thermo Fisher Scientific Inc. 4.9×
A Agilent Technologies, Inc. compare 6.6×
IQV IQVIA Holdings Inc. compare 7.0×
ILMN Illumina, Inc. compare 13.9×
IDXX IDEXX Laboratories, Inc. compare 27.4×
NTRA Natera, Inc. compare 30.8×
MTD Mettler-Toledo International, Inc. compare 2,546×
Diagnostics & Research industry median 3.1×
Healthcare sector median 2.3×
Market median 1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

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