Pricing Log in Create free account
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) P/E ratio

Alert me on P/E ratio

As of 5 November 2026, Thermo Fisher Scientific Inc. (TMO) trades at a P/E ratio of 35.8×. Over the past ten years it has ranged from 22.0× (June 2021) to 47.4× (September 2020); the current reading is higher than 78% of that period. That is in line with the Diagnostics & Research industry median of 34.5× and above the Healthcare sector median of 25.2×.

P/E ratio, daily

Embed this chart

Annual newest first

Period P/E ratio Change
FY2025 32.6× 3.92%
FY2024 31.4× (10.51%)
FY2023 35.1× 12.57%
FY2022 31.1× (8.46%)
FY2021 34.0× 17.54%
FY2020 28.9× (17.66%)
FY2019 35.2× 14.69%
FY2018 30.7× (10.25%)
FY2017 34.2× 21.96%
FY2016 28.0× (2.27%)

Quarterly newest first

Period P/E ratio Change
Sep 2026 35.5× 32.02%
Jun 2026 26.9× (0.19%)
Mar 2026 27.0× (17.27%)
Dec 2025 32.6× 16.58%
43 more quarters

Against its own ten years

Low 22.0× High 47.4×
Ten-year median 31.4×
Current reading's percentile 75

P/E ratio against peers

Company P/E ratio
NTRA Natera, Inc. compare n/m
IQV IQVIA Holdings Inc. compare 31.8×
A Agilent Technologies, Inc. compare 33.8×
ILMN Illumina, Inc. compare 35.6×
TMO Thermo Fisher Scientific Inc. 35.8×
DHR Danaher Corporation compare 37.0×
MTD Mettler-Toledo International, Inc. compare 37.6×
IDXX IDEXX Laboratories, Inc. compare 44.8×
WAT Waters Corporation compare 194×
Diagnostics & Research industry median 34.5×
Healthcare sector median 25.2×
Market median 17.9×

What P/E ratio is

Price to Earnings Ratio shows how much investors pay for each dollar of a company’s annual profit per share.

Stock Price ÷ EPS (Basic) (TTM)

The full definition of P/E ratio →

More on TMO