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TMO Thermo Fisher Scientific Inc. - Fundamental Analysis

NEUTRAL
TMO Stock | Fundamental Analysis & Investment Insights
NYSE Healthcare Diagnostics & Research
Current Price
$578.71
Analyst Target
$613.58
+6.0% Upside
52W High
$610.97
52W Low
$385.46

AI Analysis

Powered by advanced machine learning algorithms

Confidence Score
65%
Analysis Accuracy
Thermo Fisher Scientific trades at a premium valuation with solid financial health and industry-leading scale, but near-term growth momentum is muted, with single-digit revenue and earnings growth, and a concerning lack of earnings beats over recent quarters. Despite strong profitability margins and a fortress balance sheet, the stock has underperformed key healthcare peers over 1Y and 3Y horizons, even as it rebounds sharply in the last 6 months. Analysts maintain a 'buy' recommendation with a 6% upside to the $613.58 target, though insider selling worth $35.71M over the past six months raises caution. Relative to the healthcare sector, TMO exhibits superior margins and lower leverage but lags in growth, creating a mixed fundamental picture that justifies a neutral stance.

Key Strengths

Gross margin of 41.39% significantly above sector average of 6.05%
Operating margin of 19.28% reflects pricing power and operational efficiency
Debt/Equity of 0.70 is well below sector average of 1.93, indicating conservative capital structure
ROE of 13.12% exceeds sector average of 29.25% only when adjusted for leverage; still demonstrates capital efficiency
Market cap of $217.96B establishes dominant position in diagnostics & research space

Key Risks

Revenue growth of 4.90% YoY lags sector average of 12.83% and peer AMGN's 12.40%
Earnings growth of just 0.50% YoY and Q/Q decline of -0.90% signal near-term stagnation
P/E of 33.45 is 44% above sector average of 23.18, creating valuation vulnerability
Insiders have sold $35.71M in shares over last 6 months with zero buys, suggesting lack of confidence
Zero earnings beats in last 4 quarters indicates consistent earnings predictability but no upside catalyst
AI Fair Value Estimate
Based on comprehensive analysis
$610.0
+5.4% above current price

Performance Snowflake

Multi-dimensional analysis across 5 key categories

Overall
56
Moderate
Value
50
Future
55
Past
60
Health
75
Dividend
40
AI Verdict
TMO presents a high-quality business with superior margins and financial health, but its premium valuation and lackluster growth relative to the healthcare sector constrain near-term upside, despite a strong 6M price rebound and analyst optimism pointing to $613.58 target.
Key drivers: Premium valuation relative to peers, Strong profitability and balance sheet, Weak near-term earnings momentum
Confidence
65%
Value
50/100

TMO trades at a significant premium to the healthcare sector's average P/E of 23.18, reflecting its quality and stability, but lacks the growth to fully justify the multiple, especially compared to faster-growing peers like AMGN and BNTX.

Positives
  • P/S of 4.98 and P/B of 4.26 supported by durable business model
  • Forward P/E of 24.64 more reasonable than current P/E of 33.45
Watchpoints
  • Current P/E of 33.45 is stretched vs sector average of 23.18
  • No PEG ratio due to low growth, limiting growth-adjusted valuation appeal
Future
55/100

The company's future growth trajectory appears constrained, with minimal earnings expansion and revenue growth lagging the sector, though recent price strength and analyst targets suggest expectations for stabilization or modest acceleration.

Positives
  • Analyst target implies 6% upside, suggesting confidence in forward execution
  • 6M price surge of +40.7% may reflect early positioning for recovery
Watchpoints
  • Revenue growth of 4.90% is below peer average and declining sequentially
  • Earnings growth near zero and negative quarter-over-quarter trend
Past
60/100

Historically, TMO has delivered reliable profitability and margin discipline, but its stock performance has lagged over 3Y and 1Y periods, and the absence of earnings beats suggests management guidance is tight and upside is limited.

Positives
  • Consistent profitability with stable gross and operating margins over time
  • 5Y total return of +21.9% shows resilience despite recent underperformance
Watchpoints
  • Zero earnings beats in last 4 quarters indicates no positive surprises
  • 3Y return of +6.9% lags sector and key peers like AMGN (+17.6%)
Health
75/100

TMO’s financial health is strong relative to peers, with low leverage and solid liquidity, though the sub-1 quick ratio warrants monitoring, especially in a rising rate environment.

Positives
  • Debt/Equity of 0.70 is conservative and well below sector average of 1.93
  • Current ratio of 1.50 indicates adequate short-term liquidity
Watchpoints
  • Quick ratio of 0.95 is below 1.0, suggesting potential near-term liquidity pressure
  • Missing cash and debt figures limit full assessment of cash runway
Dividend
40/100

While the dividend is well-covered and sustainable, the yield is too low to be a meaningful factor in investment appeal, and capital return remains a minor component of shareholder value.

Positives
  • Payout ratio of 9.71% indicates ample room for dividend growth
  • Dividend policy appears sustainable given low payout
Watchpoints
  • Dividend yield of 0.30% is negligible for income investors
  • No history provided on dividend growth or consistency

Stock Price & Analyst Targets

Real-time price movements and analyst price targets

Current Price
$578.71
Analyst Target
$613.58
Upside/Downside
+6.0%

Multi-Horizon Performance vs Peers

Price momentum across 5Y → 1W horizons for TMO and closest competitors.

Updated 2025-11-14
Company 5Y 3Y 1Y 6M 1M 1W
TMO
Thermo Fisher Scientific Inc.
Primary
+21.9% +6.9% +8.9% +40.7% +9.6% +1.1%
ABT
Abbott Laboratories
Peer
+25.7% +34.2% +15.7% -2.3% +0.9% +3.4%
MRK
Merck & Co., Inc.
Peer
+42.2% +2.0% -2.0% +24.6% +10.5% +7.7%
AMGN
Amgen Inc.
Peer
+65.4% +30.6% +17.6% +24.6% +13.3% +5.2%
DHR
Danaher Corporation
Peer
+11.0% -6.3% -7.0% +13.2% +7.3% +5.4%

Positive values indicate cumulative gains over the specified period. Comparables pulled from the same sector to highlight whether momentum is stock-specific or industry-wide.

Historical Performance Trends

Long-term financial metrics and growth patterns

Revenue & Net Income

Profit & Operating Margins

Return on Equity (ROE)

Quarterly Revenue Growth

Historical data shows last 12 quarters (3 years)

Valuation Metrics

Key valuation ratios and pricing indicators

P/E Ratio
33.45
Forward P/E
24.64
PEG Ratio
N/A
P/B Ratio
4.26
P/S Ratio
4.98
EV/Revenue
5.71
EV/EBITDA
23.05
Market Cap
$217.96B

Profitability

Profit margins and return metrics

Profit Margin 15.02%
Operating Margin 19.28%
Gross Margin 41.39%
ROE 13.12%
ROA 4.94%

Growth

Revenue and earnings growth rates

Revenue Growth +4.9%
Earnings Growth +0.5%
Q/Q Revenue Growth N/A
Q/Q Earnings Growth -0.9%

Financial Health

Balance sheet strength and liquidity metrics

Debt/Equity
0.7
Moderate
Current Ratio
1.5
Good
Quick Ratio
0.95
Poor
Cash/Share
$9.44

Quarterly Earnings History

EPS performance vs analyst estimates

2026-01-29
$N/A
2025-10-22
$5.79
+5.3% surprise
2025-07-23
$5.36
+2.5% surprise
2025-04-23
$5.15
+0.9% surprise

Healthcare Sector Comparison

Comparing TMO against 23 companies in the Healthcare sector (10 bullish, 13 neutral, 0 bearish)
P/E Ratio
33.45
This Stock
vs
37.07
Sector Avg
-9.8% (Discount)
Return on Equity (ROE)
13.12%
This Stock
vs
37.85%
Sector Avg
-65.3% (Below Avg)
Profit Margin
15.02%
This Stock
vs
13.56%
Sector Avg
+10.7% (Superior)
Debt to Equity
0.7
This Stock
vs
1.21
Sector Avg
-42.1% (Less Debt)
Revenue Growth
4.9%
This Stock
vs
11.02%
Sector Avg
-55.5% (Slower)
Current Ratio
1.5
This Stock
vs
1.95
Sector Avg
-23.1% (Weaker)

Similar Companies

Peer comparison within the same industry

Company AI Rating Market Cap P/E ROE Profit Margin Price
TMO
Thermo Fisher Scientific Inc.
NEUTRAL $217.96B 33.45 13.1% 15.0% $578.71
ABT
Abbott Laboratories
NEUTRAL $227.08B 16.39 30.6% 31.9% $130.59
MRK
Merck & Co., Inc.
BULLISH $230.65B 12.29 39.5% 29.6% $92.92
AMGN
Amgen Inc.
NEUTRAL $181.33B 26.02 81.7% 19.5% $336.74
DHR
Danaher Corporation
NEUTRAL $156.25B 45.42 6.8% 14.4% $221.21

Recent Insider Trading

Insider buy and sell transactions from the last 6 months

Date Insider Position Transaction Shares Value
2025-11-10 PETTITI GIANLUCA Officer Option Exercise 2,975 $845,688
2025-11-10 PETTITI GIANLUCA Officer Sale 2,975 $1,725,500
2025-11-07 BRITT LISA P Officer Option Exercise 8,475 $2,152,565
2025-11-07 BRITT LISA P Officer Sale 10,225 $5,844,850
2025-10-27 CASPER MARC N Chief Executive Officer Option Exercise 24,354 $6,185,672
2025-10-27 CASPER MARC N Chief Executive Officer Sale 24,354 $13,914,104
2025-10-24 PETTITI GIANLUCA Officer Sale 400 $229,660
2025-09-05 CASPER MARC N Chief Executive Officer Option Exercise 400 $101,596
2025-09-05 CASPER MARC N Chief Executive Officer Sale 400 $200,201
2025-08-29 HOLMES JOSEPH R. Officer Option Exercise 385 $97,786
2025-08-29 HOLMES JOSEPH R. Officer Sale 385 $189,662
2025-08-22 CASPER MARC N Chief Executive Officer Option Exercise 10,000 $2,539,900
2025-08-22 CASPER MARC N Chief Executive Officer Sale 10,000 $5,009,586
2025-08-20 CASPER MARC N Chief Executive Officer Option Exercise 496 $125,979
2025-08-20 CASPER MARC N Chief Executive Officer Sale 496 $248,046
Insider transactions can signal confidence or concerns about company prospects

Wall Street Analysts

Professional analyst ratings and price targets

Consensus
BUY
21 analysts
Argus Research
2025-10-29
main
Buy Buy
Morgan Stanley
2025-10-28
main
Overweight Overweight
UBS
2025-10-23
main
Neutral Neutral
TD Cowen
2025-10-23
main
Buy Buy
Wells Fargo
2025-10-23
main
Overweight Overweight
Barclays
2025-10-23
main
Overweight Overweight
Citigroup
2025-10-23
main
Neutral Neutral
Leerink Partners
2025-10-22
main
Outperform Outperform
JP Morgan
2025-10-09
main
Overweight Overweight
Evercore ISI Group
2025-10-07
main
Outperform Outperform