TMO
Thermo Fisher Scientific
PE ratio, current and historical analysis
- Stocks
- Healthcare
- NYSE: TMO
- PE Ratio
As of Aug 2, 2026, the Thermo Fisher Scientific stock's P/E ratio is 30.84. This takes into account the latest EPS of $18.62 and stock price of $574.3. The PE ratio has increased by 9% from its last 4 quarters average of 28.2.
TMO PE ratio history
The PE ratio of Thermo Fisher Scientific has averaged 31.52 over the last ten years. The current price-to-earnings ratio of 30.84 is 2.2% less than the historical average. Analyzing the last ten years, TMO's PE ratio reached its highest point in the Sep 2024 quarter at 38.43, when the price was $614.42 and the EPS was $15.99. The lowest point was recorded in the Apr 2021 quarter, when it reached 22.78 with a price of $456.3 and an EPS of $20.03.
Thermo Fisher Scientific PE ratio by year
Maximum annual increase: 60.18% in 2013
Maximum annual decrease: -40.16% in 2011
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 32.61 | 3.92% | $579.45 | $17.77 |
| 2024 | 31.38 | -8.25% | $520.23 | $16.58 |
| 2023 | 34.2 | 10.25% | $530.79 | $15.52 |
| 2022 | 31.02 | -8.79% | $550.69 | $17.75 |
| 2021 | 34.01 | 17.48% | $667.24 | $19.62 |
| 2020 | 28.95 | -17.66% | $465.78 | $16.09 |
| 2019 | 35.16 | 14.86% | $324.87 | $9.24 |
| 2018 | 30.61 | -9.09% | $223.79 | $7.31 |
| 2017 | 33.67 | 22.17% | $189.88 | $5.64 |
| 2016 | 27.56 | -3.64% | $141.1 | $5.12 |
| 2015 | 28.6 | 8.66% | $141.85 | $4.96 |
| 2014 | 26.32 | -16.55% | $125.29 | $4.76 |
| 2013 | 31.54 | 60.18% | $111.35 | $3.53 |
| 2012 | 19.69 | 52.75% | $63.78 | $3.24 |
| 2011 | 12.89 | -40.16% | $44.97 | $3.49 |
Thermo Fisher Scientific PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Jun 2026 | 27.55 | 6.04% | $513.03 | $18.62 |
| Mar 2026 | 25.98 | -20.33% | $473.36 | $18.22 |
| Dec 2025 | 32.61 | 21.82% | $579.45 | $17.77 |
| Sep 2025 | 26.77 | 13.58% | $464.24 | $17.34 |
| Jun 2025 | 23.57 | -19.47% | $408.28 | $17.32 |
| Mar 2025 | 29.27 | -6.72% | $500.16 | $17.09 |
| Dec 2024 | 31.38 | -18.35% | $520.23 | $16.58 |
| Sep 2024 | 38.43 | 12.37% | $614.42 | $15.99 |
| Jun 2024 | 34.2 | -7.92% | $553 | $16.17 |
| Mar 2024 | 37.14 | 8.6% | $581.21 | $15.65 |
| Dec 2023 | 34.2 | 3.64% | $530.79 | $15.52 |
| Sep 2023 | 33 | -6.88% | $506.17 | $15.34 |
| Jul 2023 | 35.44 | -5.06% | $521.75 | $14.72 |
| Apr 2023 | 37.33 | 20.34% | $576.37 | $15.44 |
| Dec 2022 | 31.02 | 9.73% | $550.69 | $17.75 |
TMO Price vs fair value
TMO average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
Currently, TMO's PE ratio is under its 3, 5 and 10-year averages.
PE comparison
Thermo Fisher Scientific's price to earnings (P/E) of 30.84 is higher than the Healthcare sector average but lower than the industry and its peers average. Looking at the Healthcare sector average of 26.04, Thermo Fisher Scientific's price to earnings (P/E) is 18% higher.
TMO PE vs peers
When compared to its peers GE and DHR, TMO's PE ratio is lower, but it is higher than A's. Thermo Fisher Scientific's PE ratio is trading below the peer average of 41.41.
| Stock name | PE ratio | Market cap |
|---|---|---|
| A Agilent Technologies Inc | 28 | $39.54B |
| TMO Thermo Fisher Scientific Inc | 31.31 | $215.58B |
| DHR Danaher Corp | 35.13 | $139.54B |
| ISRG Intuitive Surgical Inc | 42.4 | $132.26B |
| GE General Electric Company | 42.86 | $380.21B |
| BDX Becton Dickinson & Company | 43.22 | $47.04B |
| WAT Waters Corp | 48.12 | $37.28B |
| BIO Bio-Rad Laboratories Inc - Class A | 56.87 | $8.87B |
| TFX Teleflex Incorporated | N/A | $6.27B |
| BAX Baxter International Inc | N/A | $14.31B |
| BRKR Bruker Corp | N/A | $9.64B |
Frequently asked questions
What is Thermo Fisher Scientific's PE ratio?
The price to earnings ratio for TMO stock as of Aug 2, 2026, stands at 30.84.
What is the 3-year average PE ratio for Thermo Fisher Scientific (TMO)?
As an average over the last 3 years, TMO stock has a PE ratio of 31.18.
What is the 5-year average PE ratio for Thermo Fisher Scientific (TMO)?
As an average over the last 5 years, TMO stock has a PE ratio of 31.3.
What is the highest PE ratio for TMO?
The highest quarterly PE ratio in the last ten years has been 38.43 and it was in the Sep 2024 quarter.
How does the current PE ratio for TMO compare to its historical average?
TMO's price to earnings ratio is currently 2.2% below its 10-year historical average.
How is TMO's PE ratio calculated (Thermo Fisher Scientific PE ratio formula)?
The P/E ratio is calculated by dividing the latest price of a stock by its trailing twelve months EPS. As of today (Aug 2, 2026), Thermo Fisher Scientific's share price is $574.3. The company's earnings per share for the trailing twelve months (TTM) ending Jun 2026 is $18.62. Therefore, Thermo Fisher Scientific's price to earnings ratio for today is 30.84. PE RATIO(30.84) = STOCK PRICE($574.3) / TTM EPS($18.62)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.