TMO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $654.80
Market Cap (MRQ) $292.04B
P/E (TTM) 35.2
EPS (TTM) $18.59
Revenue (TTM) $46.34B
Div Yield 0.22%
ROE (TTM) 13.5%
52W Range $435–$684

TMO Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

04
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Stock splits 6
Ex-date Split Type
June 6, 1996 3-for-2 Forward
May 25, 1995 3-for-2 Forward
Oct. 29, 1993 3-for-2 Forward
Nov. 3, 1986 3-for-2 Forward
Sept. 17, 1985 3-for-2 Forward
Jan. 4, 1984 3-for-2 Forward

About Thermo Fisher Scientific Inc Common Stock Company overview from Wikipedia

05 · wikidata

Thermo Fisher Scientific Inc. is an American life science and clinical research company. It is a global supplier of analytical instruments, clinical development solutions, specialty diagnostics, laboratory, pharmaceutical and biotechnology services. Based in Waltham, Massachusetts, Thermo Fisher was formed through the merger of Thermo Electron and Fisher Scientific in 2006. Thermo Fisher Scientific has acquired other reagent, consumable, instrumentation, and service providers, including Life Technologies Corporation (2013), Alfa Aesar (2015), Affymetrix (2016), FEI Company (2016), BD Advanced Bioprocessing (2018), and PPD (2021).

It ranked 106th on the Fortune 500 list based on its 2025 annual revenue of $44.556 billion.

History

Predecessors and merger

Thermo Electron was co-founded in 1956 by George N. Hatsopoulos and Peter M Nomikos. Hatsopoulos received a PhD from MIT in mechanical engineering and Nomikos was a Harvard Business School graduate. The company focused on providing analytical and laboratory products.

Fisher Scientific was founded in 1902 by Chester G. Fisher from Pittsburgh. It focused on providing laboratory equipment, chemicals, supplies and services used in healthcare, scientific research, safety, and education.

On May 8, 2006, Thermo Electron and Fisher Scientific announced that they would merge in a tax-free, stock-for-stock exchange; the merged company was named Thermo Fisher Scientific, and had about 30,000 employees, and reported US$9 billion in combined revenue. On November 9, 2006, the companies announced that the merger had been completed. However, the Federal Trade Commission ruled that this acquisition was anti-competitive regarding centrifugal evaporators, requiring Fisher to divest Genevac. In April 2007, Genevac was sold to Riverlake Partners LLC and the merger closed with FTC approval.

The company's products are sold under the brand names of Thermo Scientific, Fisher Scientific, and several other recognized brand names (e.g. Applied Biosystems, Invitrogen, Patheon, PPD, and Nalgene).

Acquisition history

In 1990, Thermo Fisher Scientific (then known as Thermo Instrument Systems) acquired mass spectrometer manufacturer Finnigan Instrument Corporation.

In 2003, the company (then Fisher Scientific International) acquired Perbio Science, a transaction that included brands such as Pierce Biotechnology, HyClone and Endogen.

In April 2006, BioImage was acquired by Thermo Fisher Scientific. The merger was complete in November 2006, and technology transfer to a US site was completed during 2007 and 2008. BioImage was established in 1993 as a drug discovery research unit led by Ole Thastrup within Novo Nordisk, from which it spun out of in 1999. It had specialized in developing and selling proprietary bioassays to biopharmaceutical companies and research institutions. It made broad patents covering Enhanced GFP (EGFP), GFP-based biosensors and any genetically encoded protein fusion to a luminophore, with subsequent monitoring of the protein's translocation within a cell as the primary readout for drug discovery assays.

In December 2010, Thermo Fisher Scientific announced its acquisition of Dionex for $2.1 billion.

In May 2011, Thermo Fisher Scientific Inc. bought Phadia to expand into the testing of allergies and autoimmune diseases for €2.47 billion ($3.5 billion) in cash.

In April 2013, after a competitive bidding with Hoffmann-La Roche, Thermo Fisher acquired Life Technologies Corporation for US$13.6 billion in a deal, adding further service lines related to advanced DNA sequencing and genetic testing. Life Technologies was originally formed in 2008 through a $6.7B merger of Invitrogen, a cell therapy, and Applied Biosystems. The company also acquired GIBCO (Grand Island Biological Company) as part of the Life Technologies acquisition.

In February 2015, the company announced it would acquire Advanced Scientifics for $300 million in a cash-deal. ASI designs manufactures, and delivers technologies used in bioprocessing. In June 2015, the company announced its intention to acquire Alfa Aesar, a global manufacturer of research chemicals for $405 million from Johnson Matthey, and the acquisition was completed at the end of September.

In January 2016, the company announced it would acquire Affymetrix for $1.3 billion. On May 27, 2016, the company announced it would acquire FEI Company for $4.2 billion, a manufacturer of electron microscopes. This acquisition is anticipated to close in early 2017 and will contribute to the growth of Thermo's Analytical Instruments business group. In November the company announced it would acquire MTI-GlobalStem, a previously privately held company that develops reagents for cell transfection, neurobiology and stem cell research.

In February 2017, the company acquired Finesse Solutions, Inc., developer of scalable control automation systems and software for bioproduction after receiving early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. The transaction was completed a day later. In March, the company announced it would acquire Core Informatics, provider of cloud-based platforms supporting scientific data management. In August, the company acquired Patheon, a contract development and manufacturing organization serving the pharmaceutical and biotechnology sectors, for approximately $7.2 billion. As of 2017, the company had revenues of $20.9 billion, and was a Fortune 500 company.

In September 2018, Thermo Fisher Scientific announced it had signed a definitive agreement with Becton, Dickinson and Company (BDX) to acquire their Advanced Bioprocessing business. This BD business had annualized revenue of approximately $100 million; as of October 16, 2018, it had been integrated into Thermo Fisher's Life Sciences Solutions Segment.

In March 2019, Thermo Fisher Scientific announced its entry into the gene therapy manufacturing market with a $1.7 billion cash acquisition for Brammer Bio. In May 2019, Thermo Fisher Scientific partnered with MMJ International Holdings to manufacture drug products developed by MMJ for the treatment of multiple sclerosis and Huntington's disease. In June, the business announced it would acquire mass spectrometry software provider, HighChem.

In March 2020, Thermo Fisher Scientific received emergency use authorization from the FDA for a test for SARS-CoV-2 to help mitigate the COVID-19 pandemic. Thermo Fisher also partnered with its biopharma customers, including Pfizer and Moderna, to

support the development and production of new mRNA-based COVID-19 vaccines.

In March 2020, Thermo Fisher Scientific agreed to purchase Qiagen, a molecular diagnostics company, for $10.1 billion. In July, the offer for Qiagen was raised from €39 to €43 per share (€11.3 billion in total). On August 13, the company announced that its offer to acquire all of the ordinary share had lapsed, and it terminated the acquisition agreement.

In August 2020, Thermo Fisher Scientific opened its new Lenexa facility aimed at boosting the production and manufacturing of COVID-19 testing supplies. In December the business announced it would acquire Phitonex, Inc.

In January 2021, Thermo Fisher Scientific announced it had acquired Belgium-based viral vector manufacturer, Henogen SA, from Groupe Novasep SAS for €725 million in cash and point-of-care molecular diagnostics provider Mesa Biotech, Inc. for up to $550 million.

In April 2021, Thermo Fisher Scientific announced the acquisition of PPD, Inc., a contract research organization, for a total cash purchase price of $17.4 billion-plus the assumption of approximately $3.5 billion of net debt. PPD generated $4.7 billion in revenue during FY 2020, and this transaction, which values their company at approximately $20.9 billion. In November, the business announced it would acquire PharmaFluidics and its μPAC range of micro-chip-based chromatography products.

In January 2022, Thermo Fisher Scientific acquired PeproTech, a developer and manufacturer of recombinant proteins, for $1.85 billion. PeproTech became part of Thermo Fisher’s biosciences business and was integrated into the Life Sciences Solutions Segment.

In October 2022, the company agreed to buy British diagnostics firm, The Binding Site Group, in an all-cash deal for US$2.6 billion from Nordic Capital. The acquisition completed in January 2023.

In July 2023, the business announced it would acquire CorEvitas, LLC from Audax Private Equity for more than $900 million in cash. In August 2023, it was announced Thermo Fisher had completed the acquisition for $912.5 million (in cash).

In October 2023, Thermo Fisher Scientific acquired Olink Holding for $3.1 billion.

In February 2025, Thermo Fisher announced the acquisition of Solventum’s purification and filtration business for $4.1 billion.

In July 2025, Thermo Fisher added drug manufacturing capabilities in the United States through its purchase of a sterile fill-finish and packaging plant from Sanofi in Ridgefield, New Jersey.

In October 2025, Thermo Fisher announced a deal to acquire Clario Holdings—an endpoint data management solutions provider—for $8.88 billion in cash from a shareholder group including Novo Holding. The transaction was expected to close mid-2026.

Leadership

Marc N. Casper has been Chief Executive Officer of Thermo Fisher Scientific since October 2009, and was elected Chairman of the Board in February 2020. He also served as President from 2009 until March 2026. He joined the company in 2001 as President of the Life Sciences sector of Thermo Electron. Casper was named Senior Vice President in 2003, and in 2005 assumed responsibility for all of the company’s operating divisions. After the merger creating Thermo Fisher Scientific in 2006, he was named Executive Vice President and President of its Analytical Technologies business, and in 2008 he became the company’s Chief Operating Officer.

Prior to joining Thermo Fisher, Casper served as President, Chief Executive Officer and a Director of Kendro Laboratory Products. Previously, he worked for clinical diagnostics provider Dade Behring Inc., serving as President–Americas. He began his career as a strategy consultant at Bain & Company and later joined Bain Capital.

Partnerships

In September 2017, Thermo Fisher Scientific signed an agreement with the Institute of Pathology Heidelberg (IPH) to establish its Center of Molecular Pathology at Heidelberg University Hospital as the newest member of the Next Generation Sequencing Companion Dx Center of Excellence Program (COEP). The initiative focuses on establishing strategic collaborations with leading, European-based organizations that can lead studies using Thermo Fisher's Oncomine portfolio of research panels destined for development as companion diagnostics to help drive precision oncology in the region.

In 2021, Thermo Fisher announced the construction of a cell therapy development, manufacturing and collaboration center in cooperation with University of California, San Francisco on the school's Mission Bay campus.

In February 2022, Thermo Fisher Scientific announced a 15-year strategic collaboration

agreement with Moderna, Inc. The collaboration was designed to scale up the

manufacturing of Moderna’s COVID-19 vaccine and other investigational mRNA

products.

In May 2023, Thermo Fisher partnered with Pfizer, with plans to work together on expanding testing capabilities for lung and breast cancer patients.

In November 2023, Thermo Fisher partnered with Flagship Pioneering, a biotechnology company. Together, they plan to create companies in the biotechnology field.

In January 2025, Thermo Fisher partnered with the UK Biobank Pharma Proteomics Project (UKB-PPP) to support the world’s largest human proteomics study. Using the Olink Explore platform, UKB-PPP seeks to analyze more than 5,400 proteins from 600,000 samples to fuel the discovery of new protein biomarkers that can be used to predict, diagnose, and treat diseases.

In February 2025, Thermo Fisher entered a 10-year virtual power purchase agreement (VPPA) with X-ELIO to secure 118 megawatts of solar energy, moving its European operations closer to a 100% renewable electricity goal.

In June 2025, Thermo Fisher partnered with the Regeneron Genetics Center which selected the Olink Explore platform for large-scale proteomics investigation involving nearly 200,000 patient samples aiming to unlock new insights into the dynamic biology and mechanisms of human disease.

Controversies

Xinjiang and Tibet

In February 2019, Thermo Fisher Scientific announced that it would stop selling its equipment in Xinjiang. In June 2020, Thermo Fisher Scientific was reported to sell its equipment to security services in China for use in what was alleged as part of a genetic surveillance program. A report from the Australian Strategic Policy Institute found that Thermo Fisher Scientific collaborated with the Chinese Ministry of Public Security to develop a Huaxia PCR amplification kit specifically to identify the genotypes of Uyghur, Tibetan and Hui ethnic minorities. In June 2021, The New York Times reported that, despite bans, Thermo Fisher Scientific equipment continued to be sold to police in Xinjiang.

In 2022, following reports that Thermo Fisher Scientific had sold products to police in the Tibet Autonomous Region, the Inter-Parliamentary Alliance on China called on governments to "investigate and suspend commercial activities with companies providing the PRC government with technologies to carry out biometric surveillance in the Uyghur Region, Tibet and elsewhere in the PRC, including the PRC state backed BGI Group and US firm Thermo Fisher." Thermo Fisher Scientific subsequently halted sales of DNA collection kits in Tibet.

HeLa cells

In October 2021 the estate of Henrietta Lacks sued to get past and future payment for the alleged and widely known unauthorized sale by Thermo Fisher Scientific of her HeLa cells which are essential in many types of research. Over 50 million tons of her cells have been produced and used in over 60,000 scientific studies touching virtually every realm of medicine, including the development of polio vaccines, gene mapping, in-vitro fertilization, and multitudes more.

In May 2022, it was announced Thermo Fisher Scientific went to court to seek a dismissal of the lawsuit. In late July 2023, with the motion to dismiss still outstanding, the court ordered the parties to attend a settlement conference. Soon after that, settlement of the suit, with undisclosed terms, was announced.

Mexican plant

In 2013, Opengate Capital Group LLC filed suit against Thermo Fisher Scientific for selling it a manufacturing plant controlled by the Gulf Cartel. According to Opengate Capital, the company withheld important documents and pressured employees into concealing the presence of the drug cartel.

Image manipulation

In May 2026, scientists found that a large number of images from Thermo Fisher Scientific's catalog had been manipulated, with sections of the images blanked out and duplicated with the same part of the picture copied into multiple places. The images were claimed to validate the effectiveness of antibody products which have uses including Western blots.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

Wikidata ↗

sectorHealthcare industryLife Sciences Tools & Services employees125,000 countryUS

10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$44.56B
2021-12-31 → 2025-12-31
EPS$17.74
2021-12-31 → 2025-12-31
Free Cash Flow$6.29B
2021-12-31 → 2025-12-31
Net margin15.0%
2021-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend TMO 5Y avg Peer Median Verdict
P/E (TTM) 35.2 · 32.0 Undervalued
P/S (TTM) 6.3 · 5.4 Undervalued
P/B (MRQ) 5.5 · 6.9 Undervalued
Price / FCF (TTM) 39.9 · · ·
Price / Cash Flow (TTM) 32.4 · 25.7 Overvalued
Price / Tangible Book (MRQ) 8.6 · · ·
PEG Ratio ≈16.5 · · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Dividends Yield, payout ratio, dividend history, 5Y CAGR

13
Dividend Yield0.22%
Payout Ratio9.5%
Annualized Payout≈$1.88Paid quarterly
5Y Div CAGR≈14.3%Per share, split-adjusted
Growth Streak≈8Consecutive years of dividend growth
Ex-dateAmountCurrencyYield
Sep 15, 2026$0.47USD≈0.29%
Jun 15, 2026$0.47USD≈0.38%
Mar 13, 2026$0.47USD≈0.38%
Dec 15, 2025$0.43USD≈0.30%
Sep 15, 2025$0.43USD≈0.35%
Jun 13, 2025$0.43USD≈0.41%
Mar 14, 2025$0.43USD≈0.31%
Dec 13, 2024$0.39USD≈0.30%
Sep 13, 2024$0.39USD≈0.25%
Jun 14, 2024$0.39USD≈0.26%
Mar 14, 2024$0.39USD≈0.25%
Dec 14, 2023$0.35USD≈0.27%
Sep 14, 2023$0.35USD≈0.26%
Jun 14, 2023$0.35USD≈0.25%
Mar 14, 2023$0.35USD≈0.22%
Dec 14, 2022$0.30USD≈0.21%
Sep 14, 2022$0.30USD≈0.21%
Jun 14, 2022$0.30USD≈0.22%
Mar 15, 2022$0.30USD≈0.20%
Dec 14, 2021$0.26USD≈0.16%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise 2.4%
Next Report Oct 20, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Jul 21, 2026 $6.03 $5.77 4.5%
March 31, 2026 $5.44 $5.29 2.8%
Dec. 31, 2025 $6.57 $6.51 0.91%
Sept. 30, 2025 $5.79 $5.55 4.4%
June 30, 2025 $5.36 $5.28 1.6%
March 31, 2025 $5.15 $5.15 -0.07%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 17
Metric Trend 20252024202320222021202020192018201720162015
Revenue $44.56B$42.88B$42.86B$44.91B$39.21B$32.22B$25.54B$24.36B·$18.27B$16.96B
Cost of Revenue ·········$8.21B$7.58B
R&D Expense $1.40B$1.39B$1.34B$1.47B$1.41B$1.18B$1.00B$967M·$754M$692M
SG&A Expense $8.73B$8.60B$8.45B$8.99B$8.01B$6.93B$6.14B$6.06B·$4.97B$4.61B
Operating Expenses $36.81B$35.54B$36.00B$36.52B$29.18B$24.42B$20.95B$20.57B·$15.82B$14.63B
Operating Income $7.75B$7.34B$6.86B$8.39B$10.03B$7.79B$4.59B$3.78B·$2.46B$2.34B
Interest Expense ··$1.38B$726M$536M$553M$676M$667M·$469M$415M
Interest Income $993M$1.08B$879M$272M$43M$65M$224M$137M·$48M$31M
Other Non-op $-12M$12M$-65M$-104M$-694M$-76M$-70M$9M·$-13M$-16M
Pretax Income $7.31B$7.04B$6.30B$7.83B$8.84B$7.23B$4.07B$3.26B·$2.02B$1.94B
Income Tax $547M$657M$284M$703M$1.11B$850M$374M$324M·$-1M$-44M
Net Income $6.70B$6.33B$6.00B$6.96B$7.73B$6.38B$3.70B····
EPS (Basic) $17.77$16.58$15.52$17.75$19.62$16.09$9.24$7.31·$5.12$4.96
EPS (Diluted) $17.74$16.53$15.45$17.63$19.46$15.96$9.17$7.24·$5.09$4.92
Shares (Basic) 377,000,000382,000,000386,000,000392,000,000394,000,000396,000,000400,000,000402,000,000·395,000,000399,000,000
Shares (Diluted) 378,000,000383,000,000388,000,000394,000,000397,000,000399,000,000403,000,000406,000,000·397,000,000402,000,000
EBITDA $7.75B$7.34B$6.86B$8.39B$10.03B$7.79B$4.59B$6.05B·$4.21B$4.02B
Balance Sheet 28
Metric Trend 20252024202320222021202020192018201720162015
Cash & Equivalents $9.85B$4.01B$8.08B$8.52B$4.48B$10.32B$2.40B$2.10B·$786M$452M
Short-term Investments $253M$1.56B$3M········
Receivables $8.90B$8.19B$8.22B$8.12B$7.98B$5.74B$4.35B$4.14B$3.87B$3.05B$2.54B
Inventory $5.42B$4.98B$5.09B$5.63B$5.05B$4.03B$3.37B$3.00B$2.72B$2.21B$1.99B
Other Current Assets $2.61B$1.96B$1.76B$1.64B$1.64B$1.13B$1.17B$922M$1.47B$595M$534M
Current Assets $28.71B$22.14B$24.59B$25.23B$20.11B$21.96B$11.89B$10.62B·$7.02B$5.74B
PP&E (Net) $10.56B$9.31B$9.45B$9.28B$8.33B$5.91B$4.75B$4.17B·$2.58B$2.45B
PP&E (Gross) $18.38B$16.06B$15.52B$14.27B$12.59B$9.58B$7.76B$6.82B·$4.42B$4.11B
Accum. Depreciation $7.82B$6.75B$6.08B$4.99B$4.26B$3.67B$3.02B$2.65B·$1.84B$1.66B
Goodwill $49.36B$45.85B$44.02B$41.20B$41.92B$26.04B$25.71B$25.35B·$21.33B$18.83B
Intangibles $15.84B$15.53B$16.67B$17.44B$20.11B$12.69B$14.01B$14.98B·$13.97B$12.76B
Other Non-current Assets $5.87B$4.49B$4.00B$4.01B$4.64B$2.46B$2.01B$1.12B$1.17B$1.01B$1.06B
Total Assets $110.34B$97.32B$98.73B$97.15B$95.12B$69.05B$58.38B$56.23B·$45.91B$40.83B
Accounts Payable $3.62B$3.08B$2.87B$3.38B$2.87B$2.17B$1.92B$1.61B·$926M$822M
Short-term Debt ·······$693M·$953M$50M
Current Liabilities $15.19B$13.33B$14.01B$17.01B$13.44B$10.30B$6.20B$6.15B·$4.87B$4.15B
Capital Leases $1.20B$1.24B$1.24B$1.31B$1.20B$626M$571M····
Deferred Tax $1.49B$1.27B$1.92B$2.85B$3.84B$1.79B$2.19B$2.27B$2.71B$2.56B$2.62B
Other Non-current Liabilities $4.27B$3.99B$4.64B$4.24B$4.54B$3.33B$3.24B$2.52B$2.64B$1.57B$1.29B
Long-term Debt $39.17B$31.07B$34.73B$34.28B$34.67B$21.73B$17.75B$18.99B···
Total Debt ·····$19.11B$17.08B$693M·$953M$50M
Common Stock $445M$444M$442M$441M$439M$437M$434M$432M·$415M$412M
Retained Earnings $59.16B$53.10B$47.36B$41.91B$35.43B$28.12B$22.09B$18.70B$16.03B$13.93B$12.14B
Treasury Stock $22.31B$19.23B$15.13B$12.02B$8.92B$6.82B$5.24B$3.67B·$2.31B$1.01B
AOCI $-2.45B$-2.70B$-3.22B$-3.10B$-2.33B$-2.81B$-2.68B$-2.50B$-2.09B$-2.64B$-2.00B
Stockholders' Equity $53.41B$49.58B$46.73B$43.98B$40.79B$34.51B$29.68B$27.59B·$21.54B$21.35B
Liabilities + Equity $110.34B$97.32B$98.73B$97.15B$95.12B$69.05B$58.38B$56.23B·$45.91B$40.83B
Shares Outstanding 445,000,000444,000,000442,000,000441,000,000439,000,000437,000,000434,000,000····
Cash Flow 19
Metric Trend 20252024202320222021202020192018201720162015
D&A ·······$2.27B·$1.76B$1.69B
Stock-based Comp $310M$301M$278M$307M$230M$196M$181M$181M·$133M$125M
Deferred Tax $-639M$-1.21B$-1.30B$-997M$-645M$-269M$-499M$-474M·$-639M$-600M
Amort. of Intangibles $1.73B$1.95B$2.34B$2.40B$1.76B$1.67B$1.71B$1.74B·$1.38B$1.31B
Restructuring $197M$97M$194M$68M$37M$51M$52M$88M·$167M$90M
Operating Cash Flow $7.82B$8.67B$8.41B$9.15B$9.31B$8.29B$4.97B$4.54B·$3.26B$2.94B
CapEx $1.52B$1.40B$1.48B$2.24B$2.52B$1.47B$926M$758M·$444M$423M
Investing Cash Flow $-4.05B$-5.84B$-5.14B$-2.16B$-21.93B$-1.51B$-1.49B$-1.25B·$-5.52B$-1.09B
Debt Issued $7.76B$1.20B$5.94B$3.19B$18.14B$3.46B$5.64B$690M·$7.60B$1.80B
Net Debt Issued $5.35B$-2.40B$160M$2.82B$6.40B$2.75B$-722M$-1.36B·$3.27B$-1.98B
Stock Issued ······$0$0·$0$0
Stock Repurchased $3.00B$4.00B$3.00B$3.00B$2.00B$1.50B$1.50B$500M·$1.25B$500M
Net Stock Activity $-3.00B$-4.00B$-3.00B$-3.00B$-2.00B$-1.50B$-1.50B$-500M·$-1.25B$-500M
Dividends Paid $636M$583M$523M$455M$395M$337M$297M$266M·$238M$241M
Financing Cash Flow $1.80B$-6.79B$-3.62B$-2.81B$6.58B$959M$-3.12B$-2.24B·$2.76B$-2.62B
Net Change in Cash $5.84B$-4.06B$-440M$4.05B$-5.84B$7.91B$305M$756M·$345M$-898M
Taxes Paid $1.78B$1.83B$1.48B········
Free Cash Flow $6.29B$7.27B$6.93B$6.91B$6.79B$6.82B$4.05B$3.79B·$2.71B$2.39B
Levered FCF ··$5.61B$6.25B$6.32B$6.33B$3.43B$3.18B·$2.24B$1.97B
Profitability 7
Metric Trend 20252024202320222021202020192018201720162015
Operating Margin 17.4%17.1%16.0%18.7%25.6%24.2%18.0%15.5%·13.4%13.8%
Net Margin 15.0%14.8%13.9%15.5%19.7%······
Pretax Margin 16.4%16.4%14.7%17.4%22.6%22.4%15.9%13.4%·11.1%11.4%
EBITDA Margin 17.4%17.1%16.0%18.7%25.6%24.2%18.0%24.8%·23.0%23.7%
ROA 6.5%6.4%6.1%7.2%9.4%······
ROE 13.0%13.2%13.1%16.4%19.9%······
ROIC 13.4%13.4%14.0%17.4%21.5%12.8%8.9%12.0%·10.9%11.2%
Liquidity & Solvency 5
Metric Trend 20252024202320222021202020192018201720162015
Current Ratio 1.91.71.81.51.52.11.91.7·1.41.4
Quick Ratio 1.31.01.21.00.91.61.11.0·0.80.7
Debt / Equity ·····0.60.60.0·0.00.0
LT Debt / Equity ·····0.60.6····
Interest Coverage ··5.011.618.714.16.85.7·5.25.6
Efficiency 3
Metric Trend 20252024202320222021202020192018201720162015
Asset Turnover 0.40.40.40.50.50.50.40.4·0.40.4
Inventory Turnover ·········3.93.9
Receivables Turnover 5.25.25.25.65.76.46.06.1·6.56.8
Per Share 6
Metric Trend 20252024202320222021202020192018201720162015
Book Value / Share $120.02$111.68$105.74$99.72·······
Revenue / Share $117.87$111.96$110.46$114.00$98.77$80.75$63.38$60.00·$45.98$42.21
Cash Flow / Share $20.68$22.63$21.66$23.23$23.46$20.77$12.34$11.19·$7.94$7.01
Cash / Share $22.14$9.03$18.27$19.33·······
Dividend / Share $1.72$1.56$1.40$1.20$1.04$0.88$0.76$0.68·$0.60$0.60
EPS (TTM) $17.74$16.53$15.45$17.63$19.46$15.96$9.17$7.24·$5.09$4.92
Growth Rates 10
Metric Trend 20252024202320222021202020192018201720162015
Revenue YoY 3.9%0.05%-4.6%14.5%21.7%······
Revenue CAGR 3Y -0.27%3.0%10.0%········
Revenue CAGR 5Y 6.7%··········
EPS YoY 7.3%7.0%-12.4%-9.4%21.9%······
EPS CAGR 3Y 0.21%-5.3%-1.1%········
EPS CAGR 5Y 2.1%··········
Net Income YoY 5.8%5.7%-13.9%-9.9%21.2%······
Net Income CAGR 3Y -1.2%-6.4%-2.0%········
Net Income CAGR 5Y 1.0%··········
Dividends Paid CAGR 5Y 13.5%··········
Valuation (TTM) 12
Metric Trend 20252024202320222021202020192018201720162015
Revenue TTM $44.56B$42.88B$42.86B$44.91B$39.21B$32.22B$25.54B$24.36B·$18.27B$16.96B
Net Income TTM $6.70B$6.33B$6.00B$6.96B$7.73B$6.38B$3.70B$1.48B·$1.48B$1.48B
Market Cap $257.86B$230.98B$234.61B$242.85B·······
P/E 32.731.534.431.234.329.235.430.9·27.728.8
P/S 5.85.45.55.4·······
P/B 4.84.75.05.5·······
P / Cash Flow 33.026.727.926.5·······
P / FCF 41.031.833.935.1·······
Dividend Yield 0.25%0.25%0.22%0.19%·······
Earnings Yield 3.1%3.2%2.9%3.2%2.9%3.4%2.8%3.2%·3.6%3.5%
Payout Ratio 9.5%9.2%8.8%6.5%5.1%······
Annual Payout $636M$583M$523M$455M$395M$337M$297M$266M·$238M$241M

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-12-312025-06-282025-03-292024-12-312024-09-28
Revenue $44.56B · · $42.88B ·
Operating Margin % 17.4% · · 17.1% ·
Net Income $6.70B · · $6.33B ·
Diluted EPS $17.74 · · $16.53 ·

Institutional owners (13F) 2,864 filers · $186.7B total · As of Sept. 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 2,864
Value held $186.7B
New positions 188
Exited positions 142
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
188 (-23 vs prior Q) 142 (-74 vs prior Q) 938 (-42 vs prior Q) 1,170 (+62 vs prior Q) +4.3M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
VANGUARD GROUP INC $19,778,773,624 34,133,702 10.60% Shares
BlackRock, Inc. $15,501,866,869 30,919,632 8.31% Shares
VANGUARD CAPITAL MANAGEMENT LLC $12,171,173,789 24,276,316 6.52% Shares
STATE STREET CORP $8,443,627,719 16,825,879 4.52% Shares
FMR LLC $7,061,398,716 14,084,488 3.78% Shares
MORGAN STANLEY $5,396,172,492 10,763,066 2.89% Shares
JPMORGAN CHASE & CO $4,306,357,475 8,503,527 2.31% Shares
GEODE CAPITAL MANAGEMENT, LLC $4,182,710,443 8,382,401 2.24% Shares
FRANKLIN RESOURCES INC $3,645,646,214 7,271,514 1.95% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $3,121,552,090 6,226,169 1.67% Shares
Capital World Investors $3,106,193,041 6,195,370 1.66% Shares
NORGES BANK $2,550,871,048 5,087,903 1.37% Shares
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ $2,276,759,119 2,965,714 1.22% Shares
Capital Research Global Investors $2,079,461,815 4,147,545 1.11% Shares
Bank of New York Mellon Corp $1,974,561,448 3,938,410 1.06% Shares
BANK OF AMERICA CORP /DE/ $1,952,930,190 3,895,265 1.05% Shares
ROYAL BANK OF CANADA $1,720,064,000 3,430,798 0.92% Shares
NORTHERN TRUST CORP $1,668,945,218 3,328,836 0.89% Shares
Capital International Investors $1,595,416,232 3,182,151 0.85% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $1,561,499,257 3,114,527 0.84% Shares
Dodge & Cox $1,531,543,498 3,054,778 0.82% Shares
GOLDMAN SACHS GROUP INC $1,482,554,827 2,957,066 0.79% Shares
Fisher Asset Management, LLC $1,461,823,432 2,915,715 0.78% Shares
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main $1,382,624,262 2,757,752 0.74% Shares
Grantham, Mayo, Van Otterloo & Co. LLC $1,373,321,891 2,739,191 0.74% Shares
UBS Group AG $1,264,032,845 2,521,208 0.68% Shares
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC $1,204,099,566 2,449,697 0.65% Shares
Legal & General Group Plc $1,122,351,013 2,238,613 0.60% Shares
EdgePoint Investment Group Inc. $1,092,789,324 2,179,650 0.59% Shares
Invesco Ltd. $1,092,468,383 2,179,010 0.59% Shares
VANGUARD FIDUCIARY TRUST CO $1,046,130,256 2,086,585 0.56% Shares
Unisphere Establishment $1,032,801,600 2,060,000 0.55% Shares
Mitsubishi UFJ Asset Management Co., Ltd. $1,009,204,590 2,012,934 0.54% Shares
PRIMECAP MANAGEMENT CO/CA/ $993,831,390 1,982,271 0.53% Shares
VIKING GLOBAL INVESTORS LP $971,342,384 1,937,415 0.52% Shares
FLOSSBACH VON STORCH SE $955,579,626 1,905,975 0.51% Shares
Amundi $909,011,305 1,813,091 0.49% Shares
ALLIANCEBERNSTEIN L.P. $908,857,157 1,849,037 0.49% Shares
1832 Asset Management L.P. $863,062,662 1,721,443 0.46% Shares
DIMENSIONAL FUND ADVISORS LP $858,828,758 1,712,845 0.46% Shares
Clearbridge Investments, LLC $847,834,531 1,691,069 0.45% Shares
PARNASSUS INVESTMENTS, LLC $822,024,341 1,639,589 0.44% Shares
AMERIPRISE FINANCIAL INC $775,851,866 1,547,342 0.42% Shares
SCHRODER INVESTMENT MANAGEMENT GROUP $764,701,846 1,525,255 0.41% Shares
Nuveen, LLC $758,647,435 1,513,180 0.41% Shares
WELLS FARGO & COMPANY/MN $731,198,667 1,458,431 0.39% Shares
BARCLAYS PLC $678,897,592 1,354,112 0.36% Shares
MANUFACTURERS LIFE INSURANCE COMPANY, THE $667,185,605 1,330,750 0.36% Shares
LOOMIS SAYLES & CO L P $659,381,019 1,315,185 0.35% Shares
Swedbank AB $651,146,314 1,298,760 0.35% Shares

Show all 2,864 institutional owners →

Activists & 5%+ owners 22 positions

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
Pharmaceutical Product Development, LLC, Wildcat Acquisition Holdings (UK) Limited, Jaguar Holding Company II, Jaguar Holding Company I, LLC, Eagle Holding Company II, LLC, PPD, Inc., Thermo Fisher Scientific Powder US Holdings Corp., Thermo Fisher Scientific Inc., Fisher Scientific International LLC, Fisher Scientific Worldwide Inc., Spectra-Physics Holdings USA, LLC, Thermo Fisher Scientific Powder Holdings I Ltd, Thermo Fisher Scientific Powder Holdings II Ltd, Thermo Fisher Scientific Powder Holdings III Ltd, Thermo Fisher Scientific Powder Holdings IV Ltd, Thermo Fisher Scientific Powder US Holdings Ltd ×2 filings March 14, 2024 · Initial filing M&A / sale SEC
Thermo Fisher Scientific Inc., Thermo Fisher (CN) Luxembourg S.à r.l. ×2 filings Sept. 13, 2017 · Initial filing · SEC
Undisclosed reporting person June 30, 2005 · Initial filing · SEC
Undisclosed reporting person May 11, 2005 · Initial filing · SEC
Undisclosed reporting person March 24, 2005 · Initial filing · SEC
Undisclosed reporting person March 2, 2005 · Initial filing · SEC
Undisclosed reporting person July 28, 2004 · Initial filing · SEC
Undisclosed reporting person July 27, 2004 · Initial filing · SEC
Undisclosed reporting person Oct. 28, 2003 · Initial filing · SEC
Undisclosed reporting person Oct. 17, 2002 · Initial filing · SEC
Undisclosed reporting person Oct. 16, 2002 · Initial filing · SEC
Undisclosed reporting person April 4, 2002 · Initial filing · SEC
Undisclosed reporting person April 1, 2002 · Initial filing · SEC
Thermo Electron Corporation IRS No. ×5 filings Dec. 27, 2001 · Initial filing · SEC
Undisclosed reporting person Nov. 21, 2001 · Initial filing · SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 61 insiders · 34 officers · 29 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Marc N Casper Chairman & CEO Aug. 28, 2026 F 122,669 0 134 $-53,892,512
Marijn E Dekkers Chief Executive Officer Aug. 17, 2009 F 42,554 0 0 $0
James Meyer Sr. Vice President & CFO Aug. 28, 2026 F 5,560 0 0 $0
Stephen Williamson Retiring Sr. VP and CFO Feb. 28, 2026 F 32,499 0 0 $0
Kyriazi Theo Melas VP & Chief Financial Officer Sept. 16, 2004 M 158,199 0 0 $0
Gianluca Pettiti President & COO Aug. 31, 2026 M 23,216 0 8 $-5,121,937
Mark Stevenson Retiring Executive VP & COO Feb. 25, 2022 F 62,141 0 0 $0
Thomas B Shropshire Jr. SVP and General Counsel Aug. 28, 2026 F 6,008 0 0 $0
Michael D Shafer Executive Vice President Aug. 28, 2026 F 20,204 0 5 $-22,537,536
Joseph R. Holmes VP & Chief Accounting Officer Aug. 28, 2026 F 2,916 0 1 $-245,620
Lisa P. Britt Sr. VP and Chief HR Officer Aug. 28, 2026 F 14,391 0 5 $-16,874,325
Frederick M. Lowery Executive Vice President Feb. 28, 2026 F 15,044 0 2 $-8,154,131
Michel Lagarde Executive Vice President Feb. 28, 2026 F 85,151 0 5 $-51,307,290
Michael A Boxer SVP and General Counsel March 10, 2025 S 10,816 0 0 $0
Syed A. Jafry Sr. Vice President Feb. 26, 2021 F 22,349 0 0 $0
Peter E Hornstra VP & Chief Accounting Officer Feb. 26, 2021 F 1,962 0 0 $0
Patrick M Durbin Senior Vice President Aug. 28, 2019 F 38,868 0 0 $0
Gregory J. Herrema Senior Vice President Aug. 28, 2019 F 26,967 0 0 $0
Seth H Hoogasian Sr. VP & Retiring Gen. Counsel Feb. 28, 2018 F 26,530 0 0 $0
Shine Daniel P Senior Vice President Aug. 30, 2017 S 20,682 0 0 $0
Thomas W Loewald Senior Vice President Aug. 28, 2017 F 38,133 0 0 $0
Peter M Wilver Exec. VP & Chief Admin Officer March 15, 2017 S 62,517 0 0 $0
Alan J Malus Executive Vice President March 10, 2016 M 47,286 0 0 $0
Andrew J Thomson Senior Vice President Aug. 26, 2015 F 52,389 0 0 $0
Edward A Pesicka Senior Vice President March 5, 2015 M 80,641 0 0 $0
Kenneth Berger Senior Vice President Feb. 26, 2012 F 36,128 0 0 $0
Stephen G Sheehan Sr. VP, Human Resources March 5, 2010 F 4,396 0 0 $0
Yuh-Geng Tsay Senior Vice President Feb. 26, 2010 F 110,369 0 0 $0
Alexander G Stachtiaris Sr. VP, Global Bus. Services March 5, 2008 A 17,236 0 0 $0
Fredric T Walder Sr. VP, Customer Excellence March 5, 2008 A 16,730 0 0 $0
Guy Broadbent Senior Vice President March 5, 2008 A 31,545 0 0 $0
Joseph R Massaro Sr. VP, Global Bus. Services Nov. 16, 2007 S 15,000 0 0 $0
SYRON RICHARD F/CA Executive Chairman Dec. 12, 2003 S 80,320 0 0 $0
Barry S Howe VP, Measurement & Control July 31, 2003 M 23,247 0 0 $0
Alexandra R. Keith Director Sept. 26, 2026 A 2,602 0 0 $0
Dion J Weisler Director Sept. 26, 2026 A 5,446 0 0 $0
Karen S Lynch Director Sept. 26, 2026 A 1,159 0 0 $0
Scott M Sperling Director Sept. 26, 2026 A 69,479 0 0 $0
Jennifer M Johnson Director Sept. 26, 2026 A 1,403 0 0 $0
Debora L Spar Director May 20, 2026 A 2,610 0 0 $0
Tyler Jacks Director May 20, 2026 A 9,462 0 0 $0
Ruby R Chandy Director May 20, 2026 A 3,463 0 0 $0
Nelson Chai Director May 20, 2026 A 15,316 0 0 $0
Martin C Harris Director May 20, 2026 A 9,532 0 0 $0
MULLEN JAMES C Director May 21, 2025 A 3,393 0 0 $0
Lars Rebien Sorensen Director May 22, 2024 F 9,233 0 0 $0
Jim P Manzi Director Feb. 3, 2023 S 14,807 0 0 $0
Thomas J Lynch Director Nov. 5, 2021 G 10,257 0 0 $0
Judy C Lewent Director May 20, 2020 A 1,290 0 0 $0
Elaine Ullian Director May 22, 2019 A 4,706 0 0 $0
William G Parrett Director Feb. 23, 2018 S 11,660 0 0 $0
Michael E Porter Director March 9, 2012 M 14,640 0 0 $0
Peter J Manning Director May 25, 2011 A 6,548 0 0 $0
Michael Adam Bell Director May 20, 2010 A 8,192 0 0 $0
Stephen P Kaufman Director May 20, 2010 A 9,192 0 0 $0
Bruce L Koepfgen Director Aug. 18, 2008 M 6,143 0 0 $0
Paul M Meister Director Jan. 8, 2007 S 350,000 0 0 $0
John L Lamattina Director May 24, 2006 A 3,000 0 0 $0
Leary Robert O Director May 24, 2006 A 1,000 0 0 $0
MCCABE ROBERT A Director May 24, 2006 A 32,558 0 0 $0
THERMO ELECTRON CORP 10% owner April 22, 2004 S 1,435,000 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 140 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
JDOC · J.P. Morgan Exchange-Traded Fund Tr… 3.73% 590 NS July 31, 2026 N-PORT
IYH · iShares Trust 3.61% 217,630 SH Sept. 11, 2026 Daily
FHLC · FIDELITY COVINGTON TRUST 3.09% 176,781 NS July 31, 2026 N-PORT
IXJ · iShares Trust 2.84% 195,408 SH Sept. 11, 2026 Daily
QIDX · Spinnaker ETF Series 2.79% 1,886 NS July 31, 2026 N-PORT
VHT · VANGUARD WORLD FUND 2.74% 1,117,168 SH Aug. 19, 2026 Daily
CURE · Direxion Shares ETF Trust 2.45% 7,313 NS July 31, 2026 N-PORT
HTEC · EXCHANGE TRADED CONCEPTS TRUST 2.18% 2,621 NS July 31, 2026 N-PORT
BKDV · BNY Mellon ETF Trust II 2.08% 66,570 NS July 31, 2026 N-PORT
HGRO · ETF Opportunities Trust 2.04% 4,490 NS July 31, 2026 N-PORT
RSPH · Invesco Exchange-Traded Fund Trust 1.82% 23,572 SH Oct. 1, 2026 Daily
PEXL · Pacer Funds Trust 1.75% 1,544 NS July 31, 2026 N-PORT
RILA · Spinnaker ETF Series 1.52% 1,115 NS July 31, 2026 N-PORT
ALRG · ALLSPRING EXCHANGE-TRADED FUNDS TRU… 1.30% 189 NS July 31, 2026 N-PORT
MEDI · Harbor ETF Trust 1.16% 835 NS July 31, 2026 N-PORT
EQWL · Invesco Exchange-Traded Fund Trust 1.14% 46,585 SH Oct. 1, 2026 Daily
FBCV · FIDELITY COVINGTON TRUST 1.14% 3,499 NS July 31, 2026 N-PORT
FXH · First Trust Exchange-Traded AlphaDE… 0.97% 17,671 NS July 31, 2026 N-PORT
USXF · iShares Trust 0.90% 22,077 SH Sept. 11, 2026 Daily
OEI · Listed Funds Trust 0.89% 716 NS July 31, 2026 N-PORT
MGV · VANGUARD WORLD FUND 0.88% 233,578 SH Aug. 19, 2026 Daily
BIGY · Tidal Trust II 0.87% 823 NS July 31, 2026 N-PORT
IWX · iShares Trust 0.83% 53,682 SH Sept. 11, 2026 Daily
FFLC · FIDELITY COVINGTON TRUST 0.81% 16,994 NS July 31, 2026 N-PORT
DFLV · Dimensional ETF Trust 0.81% 94,942 NS July 31, 2026 N-PORT
JOYT · J.P. Morgan Exchange-Traded Fund Tr… 0.78% 1,330 NS July 31, 2026 N-PORT
DFUV · Dimensional ETF Trust 0.77% 205,903 NS July 31, 2026 N-PORT
IVE · iShares Trust 0.75% 617,221 SH Sept. 11, 2026 Daily
FQAL · FIDELITY COVINGTON TRUST 0.75% 18,491 NS July 31, 2026 N-PORT
IUSV · iShares Trust 0.71% 325,171 SH Sept. 11, 2026 Daily
VTV · VANGUARD INDEX FUNDS 0.70% 3,534,266 SH Aug. 19, 2026 Daily
ILCV · iShares Trust 0.65% 14,473 SH Sept. 11, 2026 Daily
CHRI · Global X Funds 0.65% 90 NS July 31, 2026 N-PORT
ACIO · ETF Series Solutions 0.65% 26,455 NS July 31, 2026 N-PORT
ADME · ETF Series Solutions 0.65% 3,294 NS July 31, 2026 N-PORT
VOOV · VANGUARD ADMIRAL FUNDS 0.64% 85,558 SH Aug. 19, 2026 Daily
IWD · iShares Trust 0.60% 826,180 SH Sept. 11, 2026 Daily
WINN · Harbor ETF Trust 0.60% 11,840 NS July 31, 2026 N-PORT
RCGE · EA Series Trust 0.58% 1,015 NS July 31, 2026 N-PORT
FFLV · FIDELITY COVINGTON TRUST 0.58% 165 NS July 31, 2026 N-PORT
DYNF · BlackRock ETF Trust 0.56% 383,202 SH Sept. 11, 2026 Daily
IOO · iShares Trust 0.55% 81,843 SH Sept. 11, 2026 Daily
VONV · VANGUARD SCOTTSDALE FUNDS 0.52% 224,456 SH Aug. 19, 2026 Daily
IUS · Invesco Exchange-Traded Self-Indexe… 0.51% 7,209 SH Oct. 1, 2026 Daily
BSCQ · Invesco Exchange-Traded Self-Indexe… 0.51% 16,084,000 Oct. 1, 2026 Daily
OEF · iShares Trust 0.47% 157,148 SH Sept. 11, 2026 Daily
CVAR · ETF Opportunities Trust 0.46% 345 NS July 31, 2026 N-PORT
EVUS · iShares Trust 0.45% 2,862 SH Sept. 11, 2026 Daily
QVML · Invesco Exchange-Traded Fund Trust … 0.43% 10,559 SH Oct. 1, 2026 Daily
BSCT · Invesco Exchange-Traded Self-Indexe… 0.42% 12,841,000 Oct. 1, 2026 Daily
USCL · iShares Trust 0.42% 19,669 SH Sept. 11, 2026 Daily
TOPC · iShares Trust 0.42% 226 SH Sept. 11, 2026 Daily
PRF · Invesco Exchange-Traded Fund Trust 0.41% 59,946 SH Oct. 1, 2026 Daily
IWL · iShares Trust 0.40% 14,448 SH Sept. 11, 2026 Daily
ACVF · ETF Opportunities Trust 0.40% 1,049 NS July 31, 2026 N-PORT
PBP · Invesco Exchange-Traded Fund Trust 0.38% 2,201 SH Oct. 1, 2026 Daily
XVV · iShares Trust 0.38% 4,275 SH Sept. 11, 2026 Daily
PBUS · Invesco Exchange-Traded Fund Trust … 0.38% 64,102 SH Oct. 1, 2026 Daily
MGC · VANGUARD WORLD FUND 0.35% 74,378 SH Aug. 19, 2026 Daily
IVV · iShares Trust 0.34% 4,684,075 SH Sept. 11, 2026 Daily
ILCB · iShares Trust 0.34% 7,225 SH Sept. 11, 2026 Daily
XRMI · Global X Funds 0.34% 294 NS July 31, 2026 N-PORT
XCLR · Global X Funds 0.34% 21 NS July 31, 2026 N-PORT
XYLD · Global X Funds 0.34% 18,901 NS July 31, 2026 N-PORT
XTR · Global X Funds 0.33% 28 NS July 31, 2026 N-PORT
XYLG · Global X Funds 0.33% 372 NS July 31, 2026 N-PORT
BBUS · J.P. Morgan Exchange-Traded Fund Tr… 0.33% 51,276 NS July 31, 2026 N-PORT
PTLC · Pacer Funds Trust 0.33% 18,808 NS July 31, 2026 N-PORT
TOV · EA Series Trust 0.33% 1,505 NS July 31, 2026 N-PORT
VOTE · TCW ETF Trust 0.33% 6,288 NS July 31, 2026 N-PORT
BKLC · BNY Mellon ETF Trust 0.33% 31,346 NS July 31, 2026 N-PORT
IQSU · New York Life Investments ETF Trust 0.33% 1,863 NS July 31, 2026 N-PORT
IWB · iShares Trust 0.32% 257,530 SH Sept. 11, 2026 Daily
ESGV · VANGUARD WORLD FUND 0.32% 84,061 SH Aug. 19, 2026 Daily
IYY · iShares Trust 0.32% 15,906 SH Sept. 11, 2026 Daily
PHDG · Invesco Actively Managed Exchange-T… 0.32% 291 SH Oct. 1, 2026 Daily
DFUS · Dimensional ETF Trust 0.31% 112,595 NS July 31, 2026 N-PORT
IWV · iShares Trust 0.31% 102,502 SH Sept. 11, 2026 Daily
ITOT · iShares Trust 0.31% 483,822 SH Sept. 11, 2026 Daily
SPUU · Direxion Shares ETF Trust 0.31% 1,402 NS July 31, 2026 N-PORT
QDPL · Pacer Funds Trust 0.30% 8,951 NS July 31, 2026 N-PORT
ESG · FlexShares Trust 0.30% 690 NS July 31, 2026 N-PORT
VOXP · Advisors Series Trust 0.30% 30 NS July 31, 2026 N-PORT
VOO · VANGUARD INDEX FUNDS 0.29% 9,651,879 SH Aug. 19, 2026 Daily
VV · VANGUARD INDEX FUNDS 0.29% 434,014 SH Aug. 19, 2026 Daily
PEVC · Pacer Funds Trust 0.29% 12 NS July 31, 2026 N-PORT
HELO · J.P. Morgan Exchange-Traded Fund Tr… 0.27% 22,087 NS July 31, 2026 N-PORT
TILT · FlexShares Trust 0.27% 10,428 NS July 31, 2026 N-PORT
VONE · VANGUARD SCOTTSDALE FUNDS 0.27% 61,522 SH Aug. 19, 2026 Daily
PFIG · Invesco Exchange-Traded Fund Trust … 0.27% 366,000 Oct. 1, 2026 Daily
RWL · Invesco Exchange-Traded Fund Trust … 0.27% 38,261 SH Oct. 1, 2026 Daily
HCMT · Direxion Shares ETF Trust 0.26% 2,585 NS July 31, 2026 N-PORT
TOK · iShares Trust 0.26% 1,027 SH Sept. 11, 2026 Daily
VTI · VANGUARD INDEX FUNDS 0.26% 11,799,829 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.26% 31,308 SH Aug. 19, 2026 Daily
SPXL · Direxion Shares ETF Trust 0.25% 29,050 NS July 31, 2026 N-PORT
URTH · iShares, Inc. 0.25% 33,453 SH Sept. 11, 2026 Daily
SIZE · iShares Trust 0.24% 1,698 SH Sept. 11, 2026 Daily
RSP · Invesco Exchange-Traded Fund Trust 0.23% 323,273 SH Oct. 1, 2026 Daily
DFAU · Dimensional ETF Trust 0.23% 49,198 NS July 31, 2026 N-PORT
HEQQ · J.P. Morgan Exchange-Traded Fund Tr… 0.22% 117 NS July 31, 2026 N-PORT
CRBN · iShares Trust 0.22% 4,208 SH Sept. 11, 2026 Daily
ACWI · iShares Trust 0.22% 118,528 SH Sept. 11, 2026 Daily
GLOF · iShares Trust 0.21% 713 SH Sept. 11, 2026 Daily
FEX · First Trust Exchange-Traded AlphaDE… 0.21% 5,622 NS July 31, 2026 N-PORT
ESGU · iShares Trust 0.20% 60,062 SH Sept. 11, 2026 Daily
BSCU · Invesco Exchange-Traded Self-Indexe… 0.20% 5,590,000 Oct. 1, 2026 Daily
EUSA · iShares, Inc. 0.20% 6,360 SH Sept. 11, 2026 Daily
DGRO · iShares Trust 0.19% 138,388 SH Sept. 11, 2026 Daily
FTA · First Trust Exchange-Traded AlphaDE… 0.19% 4,669 NS July 31, 2026 N-PORT
OMFL · Invesco Exchange-Traded Self-Indexe… 0.19% 13,161 SH Oct. 1, 2026 Daily
DCOR · Dimensional ETF Trust 0.18% 10,630 NS July 31, 2026 N-PORT
VT · VANGUARD INTERNATIONAL EQUITY INDEX… 0.16% 311,976 SH Aug. 19, 2026 Daily
JPUS · J.P. Morgan Exchange-Traded Fund Tr… 0.15% 1,229 NS July 31, 2026 N-PORT
BSCS · Invesco Exchange-Traded Self-Indexe… 0.15% 5,694,000 Oct. 1, 2026 Daily
DFAC · Dimensional ETF Trust 0.15% 125,949 NS July 31, 2026 N-PORT
DFSU · Dimensional ETF Trust 0.15% 5,765 NS July 31, 2026 N-PORT
BSCR · Invesco Exchange-Traded Self-Indexe… 0.14% 6,247,000 Oct. 1, 2026 Daily
DXUV · Dimensional ETF Trust 0.12% 1,153 NS July 31, 2026 N-PORT
SUSA · iShares Trust 0.11% 7,530 SH Sept. 11, 2026 Daily
EQAL · Invesco Exchange-Traded Fund Trust … 0.11% 1,251 SH Oct. 1, 2026 Daily
LGDX · Tidal Trust III 0.10% 258 NS July 31, 2026 N-PORT
FAB · First Trust Exchange-Traded AlphaDE… 0.10% 283 NS July 31, 2026 N-PORT
VFVA · VANGUARD WELLINGTON FUND 0.03% 578 SH Aug. 19, 2026 Daily
LRGF · iShares Trust 0.03% 1,674 SH Sept. 11, 2026 Daily
NEAR · iShares U.S. ETF Trust 0.02% 1,310,000 SH Sept. 11, 2026 Daily
GTO · Invesco Actively Managed Exchange-T… 0.02% 600,000 Oct. 1, 2026 Daily
DFVX · Dimensional ETF Trust 0.01% 55 NS July 31, 2026 N-PORT
GTOS · Invesco Actively Managed Exchange-T… 0.00% 2,000 Sept. 30, 2026 Daily
BIV · VANGUARD BOND INDEX FUNDS · · July 15, 2026 Daily
BLV · VANGUARD BOND INDEX FUNDS · · July 15, 2026 Daily
BSV · VANGUARD BOND INDEX FUNDS · · July 15, 2026 Daily
BND · VANGUARD BOND INDEX FUNDS · · July 15, 2026 Daily
VCSH · VANGUARD SCOTTSDALE FUNDS · · July 15, 2026 Daily
VCIT · VANGUARD SCOTTSDALE FUNDS · · July 15, 2026 Daily
VCLT · VANGUARD SCOTTSDALE FUNDS · · July 15, 2026 Daily
VTC · VANGUARD SCOTTSDALE FUNDS · · July 30, 2026 Daily
BNDW · VANGUARD SCOTTSDALE FUNDS · · July 30, 2026 Daily
BNDX · VANGUARD CHARLOTTE FUNDS · · July 15, 2026 Daily
VCEB · VANGUARD WORLD FUND · · July 30, 2026 Daily

TMO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 36 analysts BUY
Median target $650.00 -0.7%
11 30.6% Strong Buy
18 50.0% Buy
7 19.4% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

26 analysts · 2026-10-02

Mean target $652.85 -0.3%

Now Current price $654.80
Low$520.00 Mean$652.85 High$780.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
TMO $257.86B 32.7 3.9% 15.0% 13.0% ·
DHR $161.82B 45.3 2.9% 14.7% 7.1% 59.1%
A $41.43B 32.0 6.7% 18.8% 20.6% ·
WAT $22.62B 35.3 7.0% 20.3% 27.2% ·
IQV $38.23B 28.8 5.9% 8.3% 21.6% ·
ILMN $20.65B 24.8 -0.66% 19.6% 34.1% 66.1%
MTD $28.38B 33.2 4.0% 21.6% -615.5% 59.4%
WST $19.81B 40.5 6.2% 16.1% 16.2% 35.9%
RVTY $10.86B 46.7 3.7% 8.5% 3.3% ·
MEDP $15.93B 36.8 20.0% 17.8% 142.9% ·
TEM · -41.9 83.4% -19.3% -61.2% ·

Latest News Recent headlines mentioning this company

23

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Source: SEC 10-Q filed Jul 31, 2026