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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/E ratio

Alert me on P/E ratio

As of 16 October 2026, Thermo Fisher Scientific Inc. (TMO) trades at a P/E ratio of 37.1×. Over the past ten years it has ranged from 22.0× (June 2021) to 47.4× (September 2020); the current reading is higher than 86% of that period. That is in line with the Diagnostics & Research industry median of 35.6× and above the Healthcare sector median of 23.0×.

P/E ratio, daily

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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
Jun 2026 26.9× (0.19%)
Mar 2026 27.0× (17.27%)
Dec 2025 32.6× 16.58%
Sep 2025 28.0× 19.48%
42 more quarters

Against its own ten years

Low 22.0× High 47.4×
Ten-year median 31.4×
Current reading's percentile 85

P/E ratio against peers

Company P/E ratio
NTRA Natera, Inc. compare n/m
IQV IQVIA Holdings Inc. compare 32.8×
A Agilent Technologies, Inc. compare 34.0×
MTD Mettler-Toledo International, Inc. compare 36.4×
TMO Thermo Fisher Scientific Inc. 37.1×
IDXX IDEXX Laboratories, Inc. compare 39.1×
DHR Danaher Corporation compare 40.5×
ILMN Illumina, Inc. compare 48.4×
WAT Waters Corporation compare 109×
Diagnostics & Research industry median 35.6×
Healthcare sector median 23.0×
Market median 18.1×

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 →

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