Thermo Fisher Scientific Inc. (TMO) stock analysis
Company overview and business model
Source fact: Thermo Fisher Scientific Inc. provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services 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.
Classification: NYSE · Healthcare · Diagnostics & Research
Revenue and growth
Source fact: Revenue was USD 44.56 billion for the period ending 2025-12-31.
Caverian calculation: Revenue changed +3.9% (FY2025 vs FY2024).
Profitability
Source fact: Net income was USD 6.70 billion in the latest reported period.
Source metric: Reported net margin was 15.0%.
Balance sheet and liquidity
Source fact: Cash and equivalents were USD 9.85 billion.
Source fact: Total debt was USD 39.38 billion.
Source metric: Current ratio was 1.89x.
Cash-flow analysis
Source fact: Operating cash flow was USD 7.82 billion.
Source fact: Free cash flow was USD 6.29 billion.
Valuation
Source metrics: Trailing P/E 31.65x; Forward P/E 21.28x; Price to book 4.11x; Price to sales 4.67x; EV/EBITDA 21.73x.
Caverian model output: Value score was 40/100.
Competitive position
Classification: Peer context: Diagnostics & Research within Healthcare.
Caverian model output: Quality score was 71/100.
Caverian model output: Growth score was 59/100.
Material risks
Caverian calculation: Altman Z-score was 3.85 (safe zone).
Caverian calculation: Piotroski F-score was 4/9.
Data sources and freshness
Freshness: This report uses a stored upstream snapshot; statement periods are shown alongside the figures.
Methodology and limitations
Facts reproduce stored upstream fields. Calculations derive only from the displayed stored statements. Model outputs are Caverian interpretations, not investment advice or a buy/sell recommendation.
How Caverian approaches valuation · Sources and product principles