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Thermo Fisher Scientific Valuation Multiples

Discover revenue and EBITDA valuation multiples for Thermo Fisher Scientific and similar public comparables like Integral Diagnostics, Australian Clinical Labs, and Healius.

Thermo Fisher Scientific Overview

About Thermo Fisher Scientific

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-2024 (revenue figures include some cross-segment revenue): analytical technologies (17% of sales); specialty diagnostic products (11%); life science solutions (23%); and lab products and services, which includes CRO services (54%).


Founded

1956

HQ

United States of America
Employees

125K+

Financials

LTM Revenue $43.2B

LTM EBITDA $10.8B

EV

$180B

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Thermo Fisher Scientific Financials

Thermo Fisher Scientific has a last 12-month revenue (LTM) of $43.2B and a last 12-month EBITDA of $10.8B.

In the most recent fiscal year, Thermo Fisher Scientific achieved revenue of $42.9B and an EBITDA of $11.5B.

Thermo Fisher Scientific expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Thermo Fisher Scientific P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $43.2B XXX $42.9B XXX XXX XXX
Gross Profit $18.1B XXX $17.7B XXX XXX XXX
Gross Margin 42% XXX 41% XXX XXX XXX
EBITDA $10.8B XXX $11.5B XXX XXX XXX
EBITDA Margin 25% XXX 27% XXX XXX XXX
EBIT $9.7B XXX $7.7B XXX XXX XXX
EBIT Margin 23% XXX 18% XXX XXX XXX
Net Profit $8.4B XXX $6.3B XXX XXX XXX
Net Margin 19% XXX 15% XXX XXX XXX
Net Debt XXX XXX $27.3B XXX XXX XXX

Financial data powered by Morningstar, Inc.

Thermo Fisher Scientific Stock Performance

As of May 30, 2025, Thermo Fisher Scientific's stock price is $403.

Thermo Fisher Scientific has current market cap of $152B, and EV of $180B.

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Thermo Fisher Scientific Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$180B $152B XXX XXX XXX XXX $22.05

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Thermo Fisher Scientific Valuation Multiples

As of May 30, 2025, Thermo Fisher Scientific has market cap of $152B and EV of $180B.

Thermo Fisher Scientific's trades at 4.2x EV/Revenue multiple, and 15.6x EV/EBITDA.

Equity research analysts estimate Thermo Fisher Scientific's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Thermo Fisher Scientific has a P/E ratio of 18.1x.

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Thermo Fisher Scientific Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $152B XXX $152B XXX XXX XXX
EV (current) $180B XXX $180B XXX XXX XXX
EV/Revenue 4.2x XXX 4.2x XXX XXX XXX
EV/EBITDA 16.6x XXX 15.6x XXX XXX XXX
EV/EBIT 18.5x XXX 23.4x XXX XXX XXX
EV/Gross Profit 9.9x XXX n/a XXX XXX XXX
P/E 18.1x XXX 24.0x XXX XXX XXX
EV/FCF 24.7x XXX 24.8x XXX XXX XXX

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Thermo Fisher Scientific Margins & Growth Rates

Thermo Fisher Scientific's last 12 month revenue growth is 4%

Thermo Fisher Scientific's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.1M for the same period.

Thermo Fisher Scientific's rule of 40 is 29% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Thermo Fisher Scientific's rule of X is 34% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Thermo Fisher Scientific Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 4% XXX 4% XXX XXX XXX
EBITDA Margin 25% XXX 27% XXX XXX XXX
EBITDA Growth 4% XXX -1% XXX XXX XXX
Rule of 40 29% XXX 31% XXX XXX XXX
Bessemer Rule of X XXX XXX 34% XXX XXX XXX
Revenue per Employee XXX XXX $0.3M XXX XXX XXX
Opex per Employee XXX XXX $0.1M XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 3% XXX XXX XXX
Opex to Revenue XXX XXX 23% XXX XXX XXX

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Thermo Fisher Scientific Public Comps

See public comps and valuation multiples for Laboratory Services and Medical Devices comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Australian Clinical Labs XXX XXX XXX XXX XXX XXX
Healius XXX XXX XXX XXX XXX XXX
Integral Diagnostics XXX XXX XXX XXX XXX XXX
Sonic Healthcare XXX XXX XXX XXX XXX XXX
Bangkok Dusit Medical Services XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Thermo Fisher Scientific M&A and Investment Activity

Thermo Fisher Scientific acquired  XXX companies to date.

Last acquisition by Thermo Fisher Scientific was  XXXXXXXX, XXXXX XXXXX XXXXXX . Thermo Fisher Scientific acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Thermo Fisher Scientific

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Thermo Fisher Scientific

When was Thermo Fisher Scientific founded? Thermo Fisher Scientific was founded in 1956.
Where is Thermo Fisher Scientific headquartered? Thermo Fisher Scientific is headquartered in United States of America.
How many employees does Thermo Fisher Scientific have? As of today, Thermo Fisher Scientific has 125K+ employees.
Who is the CEO of Thermo Fisher Scientific? Thermo Fisher Scientific's CEO is Mr. Marc N. Casper.
Is Thermo Fisher Scientific publicy listed? Yes, Thermo Fisher Scientific is a public company listed on NYS.
What is the stock symbol of Thermo Fisher Scientific? Thermo Fisher Scientific trades under TMO ticker.
When did Thermo Fisher Scientific go public? Thermo Fisher Scientific went public in 1980.
Who are competitors of Thermo Fisher Scientific? Similar companies to Thermo Fisher Scientific include e.g. Australian Clinical Labs, Healius, Integral Diagnostics, Sonic Healthcare.
What is the current market cap of Thermo Fisher Scientific? Thermo Fisher Scientific's current market cap is $152B
What is the current revenue of Thermo Fisher Scientific? Thermo Fisher Scientific's last 12 months revenue is $43.2B.
What is the current revenue growth of Thermo Fisher Scientific? Thermo Fisher Scientific revenue growth (NTM/LTM) is 4%.
What is the current EV/Revenue multiple of Thermo Fisher Scientific? Current revenue multiple of Thermo Fisher Scientific is 4.2x.
Is Thermo Fisher Scientific profitable? Yes, Thermo Fisher Scientific is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Thermo Fisher Scientific? Thermo Fisher Scientific's last 12 months EBITDA is $10.8B.
What is Thermo Fisher Scientific's EBITDA margin? Thermo Fisher Scientific's last 12 months EBITDA margin is 25%.
What is the current EV/EBITDA multiple of Thermo Fisher Scientific? Current EBITDA multiple of Thermo Fisher Scientific is 16.6x.
What is the current FCF of Thermo Fisher Scientific? Thermo Fisher Scientific's last 12 months FCF is $7.3B.
What is Thermo Fisher Scientific's FCF margin? Thermo Fisher Scientific's last 12 months FCF margin is 17%.
What is the current EV/FCF multiple of Thermo Fisher Scientific? Current FCF multiple of Thermo Fisher Scientific is 24.7x.

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