Thermo Fisher Scientific, Inc. (TMO) Valuation
Historical valuation analysis based on 1279 data points (2021-09-14 to 2026-10-16)
Thermo Fisher Scientific sells scientific instruments and laboratory equipment, diagnostics consumables, and life science reagents. The firm operates through four segments as of year-end 2025 (reve...
Thermo Fisher Scientific, Inc. (TMO) currently trades at a P/E ratio of 36.62 (historical range: 22.71–39.15, median: 31.47), placing it at the 88th percentile — expensive relative to its history, P/S ratio of 5.51 (range: 3.45–6.78, 86th percentile — expensive relative to its history), EV/EBITDA of 34.92 (range: 21.87–37.80, 82th percentile).
Thermo Fisher Scientific, Inc. trades well above its own historical valuation range across most metrics.
Historical Valuation Metrics
| Metric | Current | Median | %ile | Assessment |
|---|---|---|---|---|
| P/E Ratio | 36.62 | 31.47 | 88th | expensive relative to its history |
| P/S Ratio | 5.51 | 4.91 | 86th | expensive relative to its history |
| EV/EBITDA | 34.92 | 29.94 | 82th | expensive relative to its history |
| FCF Yield | 2.87% | 3.28% | 25th | above its historical average |
Thermo Fisher Scientific, Inc. (TMO) Valuation & P/E History
Thermo Fisher Scientific, Inc. (TMO) is a US-listed stock operating in the Healthcare sector, specifically the Diagnostics & Research industry currently trading at $690.49 with a market capitalization of $255.3 billion. This page provides historical valuation analysis for TMO based on 1279 data points covering 2021-09-14 to 2026-10-16. The P/E ratio of 36.62 is above the historical median of 31.47, placing TMO at the 88th percentile of its valuation range. The P/S ratio of 5.51 compares to a median of 4.91.
TMO Valuation Metrics & Historical Range
The valuation table above shows Thermo Fisher Scientific, Inc.'s current and historical valuation multiples, including P/E ratio, P/S ratio, EV/EBITDA, FCF yield, and dividend yield. Each metric is compared to its own historical range to determine whether TMO is currently trading above or below its typical valuation levels.
- P/E ratio: Price-to-earnings measures how much investors pay per dollar of earnings. A P/E above the historical median suggests TMO is expensively valued; below the median suggests it is cheap.
- P/S ratio: Price-to-sales is useful for companies with volatile or negative earnings. Lower P/S relative to history may indicate value.
- EV/EBITDA: Enterprise value to EBITDA adjusts for debt and cash, providing a capital-structure-neutral valuation measure for Thermo Fisher Scientific, Inc..
- FCF yield: Free cash flow yield shows the cash return relative to market price. Higher yields may indicate undervaluation.
Is TMO Overvalued or Undervalued?
Thermo Fisher Scientific, Inc. trades well above its own historical valuation range across most metrics. The overall valuation percentile of 85 combines P/E, P/S, and EV/EBITDA percentiles into a single measure of how expensive TMO is relative to its own history. A percentile below 25 suggests the stock may be undervalued, while a percentile above 75 suggests it may be overvalued.
However, valuation is only one factor in investment decisions. A stock can remain "overvalued" for years if growth accelerates, or "undervalued" if the business deteriorates. Always combine valuation analysis with financial statement analysis and the full TMO analysis page for a complete picture.
Valuation data is computed from historical price and fundamental data via Polygon.io and Finnhub.TMO trades on NYSE/NASDAQ. This page is for informational purposes only and is not financial advice.