Quest Diagnostics vs Thermo Fisher Scientific: Fair Value & Quality
Both stocks run through our valuation models. Here is how Quest Diagnostics (DGX) and Thermo Fisher Scientific (TMO) compare, as of Aug 14, 2026.
As of Aug 14, 2026, Fair Value Calculator sees Quest Diagnostics as the less overvalued of the two: Quest Diagnostics trades at $236 versus a fair value of $163 (-31%), while Thermo Fisher Scientific trades at $596 versus $308 (-48%).
Quest Diagnostics
DGX · USD · Health Care
-31%
upside to fair value
overvalued
Price$236
Fair Value$163
Quality65/100
Thermo Fisher Scientific
TMO · USD · Health Care
-48%
upside to fair value
overvalued
Price$596
Fair Value$308
Quality63/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
Quest DiagnosticsThermo Fisher Scientific
Valuation
23.3×P/E (TTM)29.5×
2.07×P/S (TTM)4.41×
3.25×P/B3.74×
12.6×EV/EBITDA20.0×
1.62×PEG1.74×
1.6%Dividend yield0.3%
$3.26Dividend per share$1.76
Profitability
9%Net margin15%
14%Operating margin18%
15%Return on equity14%
6%Return on assets5%
Growth
9%Revenue growth (YoY)6%
3.7%Avg. growth/yr (3Y)-0.3%
3.2%Avg. growth/yr (5Y)6.7%
Balance & size
0.72×Debt / equity0.67×
$23BMarket cap$199B
healthyGrowth qualityhealthy
Quest Diagnostics leads: 10 to 4 metric wins.
Dash = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
Quest Diagnosticsof which business quality 63 · market factors 76Thermo Fisher Scientificof which business quality 60 · market factors 68
ProfitabilityMargins and returns on capital today
46
43
Quality GrowthAre margins and returns improving?
59
31
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
70
79
Low VolatilityCalm price path (market factor)
88
69
MomentumPrice trend over the last 3–12 months (market factor)
63
65
52W MomentumDistance to the 52-week high (market factor)
86
71
Net IssuanceBuybacks instead of dilution
89
97
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
Quest Diagnostics
DCF Models$148
Earnings-Based$86.50
Dividend Discount$47.53
Multiples$175
Asset-Based$43.40
Growth DCF$149
Economic Profit$86.32
Growth Earnings$160
25 of 25 models see the stock below the current price.
Thermo Fisher Scientific
DCF Models$354
Earnings-Based$203
Multiples$308
Asset-Based$96.29
Growth DCF$288
Economic Profit$159
Growth Earnings$341
24 of 24 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
Quest Diagnostics
Bear $92.79Fair Value $163Bull $240
$236 = current price (white tick)
Thermo Fisher Scientific
Bear $171Fair Value $308Bull $385
$596 = current price (white tick)
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Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
Quest Diagnostics · Health Care
Quality score65 · Top 25%
Fair value upside-31% · below median
Thermo Fisher Scientific · Health Care
Quality score63 · Top 25%
Fair value upside-48% · below median
Bottom line
As of Aug 14, 2026, Fair Value Calculator sees Quest Diagnostics as the less overvalued of the two: Quest Diagnostics trades at $236 versus a fair value of $163 (-31%), while Thermo Fisher Scientific trades at $596 versus $308 (-48%).
Quest Diagnostics has the higher quality score (65/100).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
