Thermo Fisher Scientific Inc (TMO) Fair Value & Analysis
Healthcare · US · Market cap $199B · ISIN US8835561023
What is Thermo Fisher Scientific Inc really worth?
Thermo Fisher Scientific Inc
TMO · US
A solid business, but trading 101% above our fair value of $308.19.
Strengths
Risks
For context
Fair value as of: Aug 29, 2026
From 24 valuation models · updated 6 days ago
Share price +9.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case ($385.23). The favourable scenario is already priced in.
- Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range ($170.86 to $385.23) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.
How to read this chart
60‑month range $388.84 – $658.54 · fair‑value band $170.86 – $385.23 · the $618.43 price screens above the $308.19 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.
Analysis
Thermo Fisher Scientific Inc (TMO) currently trades at $618.43, while our model-based Fair Value estimate is $308.19, implying the stock looks roughly 100.7% overvalued today. The Quality Score stands at 64/100 (solid quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of $349.65 per share, and 0 of the 24 models we run sit above the $618.43 price. Bear case: the Asset-Based group reads lowest at $96.29, and 24 of the 24 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Thermo Fisher Scientific Inc generated revenue of $45.2B at a net margin of 15.2%. Revenue grew 6.2% year over year. It earns a return on equity of 13.5%. Net debt stands at $31.0B. Fundamentals as of Aug 29, 2026
Our scenario range runs from $170.86 (bear case) to $385.23 (bull case); at $618.43, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 4% below its 52-week high and 61% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −54% fair-value upside, at −50%, TMO screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $11.13 per share, which is 3.6 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: DCF Models ($349.65) versus Asset-Based ($96.29). Highest evidence: FCF DCF (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 60 · Market factors (momentum, volatility) 71
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Thermo Fisher Scientific Inc. provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally.
Full company description
Thermo Fisher Scientific Inc. provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Biopharma Services. The Life Sciences Solutions segment includes reagents, instruments, and consumables for biological and medical research; discovery and production of drugs and vaccines; and diagnosis of infections and diseases. Its Analytical Instruments segment provides instruments, consumables, software, and services for pharmaceutical, biotechnology, academic, government, environmental, and other research and industrial markets, as well as clinical laboratories. The Specialty Diagnostics segment offers clinical diagnostics products, such as liquid ready-to-use and lyophilized immunodiagnostic reagent kits, calibrators, controls, protein detection assays, and instruments; immunodiagnostic offerings comprising developing, manufacturing, and marketing of complete blood-test systems for the clinical diagnosis and monitoring of allergy, asthma and autoimmune diseases; microbiology offerings, such as dehydrated and prepared culture media, collection and transport systems, instrumentation and consumables to detect pathogens in blood, diagnostic and rapid direct specimen tests, quality-control products, and associated products; transplant diagnostics products, including human leukocyte antigen typing and testing for the organ transplant market; and healthcare market channel offerings. Its Laboratory Products and Biopharma Services segment provides laboratory products, research and safety market channel, and pharma services and clinical research. Thermo Fisher Scientific Inc. was founded in 1956 and is headquartered in Waltham, Massachusetts.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Thermo Fisher Scientific Inc reported revenue of $44.6B in FY2025 versus $39.2B in FY2021, a compound +3.2%/yr. Reported net income was $6.7B in FY2025, compounding −3.4%/yr from FY2021.
of which total revenue +10.7 % · buybacks/dilution +0.5 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
TMO screens 101% overvalued. Compare with Danaher Corporation →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Plant Virome Diagnostics Outlook 2026-2030 Featuring Profiles of Illumina, Thermo Fisher Scientific and Qiagen
- Thermo Fisher Scientific (TMO) Unveils New Tools For Electron Microscopy And Isotope Analysis
- Trends & Strategies in the $2.9 Billion Biological Computing Market, 2026-2035 - Featuring Profiles of Microsoft, IBM, and Thermo Fisher
Peer Group
Diagnostics & Research · 130 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Diagnostics & Research median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 46/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Diagnostics & Research stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Danaher Corporation DHR | $215.68 | $103.88 | −52% |
| WuXi AppTec Co 2359 | HK$189.30 | HK$150.16 | −21% |
| Lonza Group LONN | CHF 576.60 | CHF 259.80 | −55% |
| IDEXX Laboratories, Inc IDXX | $556.69 | $255.77 | −54% |
| Agilent Technologies, Inc A | $149.93 | $61.53 | −59% |
| Waters Corporation WAT | $416.15 | $121.96 | −71% |
| IQVIA Holdings IQV | $236.66 | $132.17 | −44% |
| Illumina, Inc ILMN | $215.59 | $95.51 | −56% |
| Mettler-Toledo International Inc MTD | $1,419 | $615.78 | −57% |
| Quest Diagnostics Incorporated DGX | $242.76 | $162.50 | −33% |
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