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

Alert me on P/B ratio

As of 5 November 2026, Thermo Fisher Scientific Inc. (TMO) trades at a P/B ratio of 4.6×. Over the past ten years it has ranged from 2.3× (September 2015) to 6.8× (December 2021); the current reading is higher than 66% of that period. That is above the Diagnostics & Research industry median of 3.4× 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
Sep 2026 4.6× 29.18%
Jun 2026 3.5× 0.28%
Mar 2026 3.5× (13.92%)
Dec 2025 4.1× 13.82%
43 more quarters

Against its own ten years

Low 2.3× High 6.8×
Ten-year median 4.0×
Current reading's percentile 63

P/B ratio against peers

Company P/B ratio
WAT Waters Corporation compare 2.9×
DHR Danaher Corporation compare 3.0×
TMO Thermo Fisher Scientific Inc. 4.6×
IQV IQVIA Holdings Inc. compare 6.4×
A Agilent Technologies, Inc. compare 6.6×
ILMN Illumina, Inc. compare 10.1×
NTRA Natera, Inc. compare 28.2×
IDXX IDEXX Laboratories, Inc. compare 28.2×
MTD Mettler-Toledo International, Inc. compare 2,631×
Diagnostics & Research industry median 3.4×
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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