Thermo Fisher Scientific Inc. (TMO) Stock Price & Analysis

Thermo Fisher Scientific Inc. (TMO) closed at USD 676.54 on Thursday, October 22, 2026, down 2.52% on the day. The US market is currently closed (pre-market); this is not a live price.

The prior close was USD 694.02; the Oct 22, 2026 session ranged USD 674.2–703.2 on volume of 3,599,891 shares. Market capitalization is $250.15B, with a 52-week range of USD 435.27–705.79 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:14 UTC.

Also available as compact Markdown for AI agents: nexqual.com/TMO.md

Latest Earnings Results (TMO)

Thermo Fisher Scientific Inc. (TMO) reported Q3 2026 results on Oct 21, 2026, 6:03:16 AM ET: GAAP EPS $4.64, revenue $12.14B vs. estimate $11.95B (beat). Guidance: The company will provide updated 2026 financial guidance during its earnings conference call. Source: SEC 8-K filing. Nexqual published it 118 seconds after release. Read the SEC filing.

Fiscal periodEPS (reported)RevenueReleasedSource
Q3 2026$4.64 (GAAP diluted)$12.14BOct 21, 2026, 6:03:16 AM ET · on Nexqual +118 secondsSEC 8-K filing

Reported actuals captured by Nexqual from SEC 8-K filings and company press releases; each figure confirmed by two independent extraction methods.

Key facts (TMO)

Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (TMO)

USDFY2021FY2022FY2023FY2024FY2025TTM
Revenue$39.2B$44.9B$42.9B$42.9B$44.6B$46.3B
Operating income$10.0B$8.39B$6.86B$7.34B$7.75B$8.15B
Net income$7.73B$6.96B$6.00B$6.33B$6.70B$6.97B
EPS (diluted)$19.46$17.63$15.45$16.53$17.74—
Free cash flow$6.79B$6.91B$6.93B$7.27B$6.29B$7.32B
Operating margin25.6%18.7%16.0%17.1%17.4%17.6%
Net margin19.7%15.5%14.0%14.8%15.0%15.0%
Revenue growth+21.7%+14.5%-4.6%+0.1%+3.9%—
Cash + short-term investments$4.48B$8.52B$8.08B$5.57B$10.1B—
Total debt$37.2B$39.9B$38.3B$33.3B$42.7B—

Fiscal years end Dec. EPS is split-adjusted.

Valuation (price ÷ last four quarters, through Jun 27, 2026) (TMO)

P/E 35.9x · P/S 5.4x · EV/EBITDA 31.4x · EV/Sales 6.3x · P/FCF 34.2x · P/B 4.8x · FCF yield 2.93% · Earnings yield 2.79% · Dividend yield (paid, TTM) 0.26% · Buyback yield (TTM) 2.00% · Net debt $41.6B · EV $292B

P/E at fiscal year-ends: Dec 2025 32.7x, Dec 2024 31.5x, Dec 2023 34.4x.

Superinvestors (SEC 13F-HR, Q2 2026) (TMO)

12 of 80 tracked investors hold TMO (2 investors on Q3 2026, filed early). Each row is the investor's latest 13F; change is vs their prior-quarter share count.

InvestorFirm% of portfolioValueChangeQuarter
Lindsell Train9.81%$258MReduced -16.6%Q2 2026
Wallace WeitzWeitz Investment Management4.00%$57.8MReduced -4.8%Q2 2026
Viking GlobalViking Global Investors2.77%$971MAdded +16.1%Q2 2026
Harry BurnSound Shore2.55%$82.9MNew positionQ2 2026
First Pacific Advisors1.56%$124MAdded +11.9%Q2 2026
Van Den Berg Management I1.51%$7.2MAdded +1.0%Q2 2026
John ArmitageEgerton Capital1.36%$134MNew positionQ3 2026
David KatzMatrix Asset Advisors1.33%$16.2MReduced -13.4%Q3 2026
Dodge & Cox FundsDodge & Cox0.80%$1.53BNew positionQ2 2026
Thomas GaynerMarkel Group0.28%$36.6MAdded +8.9%Q2 2026
Hillman CapitalHillman Capital Management0.27%$376KAdded +14.3%Q2 2026
Mairs & PowerMairs & Power Funds0.01%$622KUnchangedQ2 2026

Insider sales (SEC Form 4, open-market, last ~7 months) (TMO)

9 of 12 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.

Trade dateInsiderRoleSharesValue% of holdings sold10b5-1 planInsider type
2026-08-31Pettiti GianlucaPresident & COO4,133$2.5M15.1%Yes (adopted June 2, 2026)Opportunistic (traded every year 2023–2025, no repeating month)
2026-08-24Casper Marc NChairman & CEO275$172K0.2%Yes (adopted April 27, 2026)Routine (sold in Mar each year 2023–2025; this trade is outside those months)
2026-08-20…2026-08-21Casper Marc NChairman & CEO20,000$12.6M12.5%Yes (adopted April 27, 2026)Routine (sold in Mar each year 2023–2025; this trade is outside those months)
2026-08-19Britt Lisa P.Sr. VP and Chief HR Officer11,440$7.0M43.6%NoToo little history (no open-market trades in 2023)
2026-08-11Shafer Michael DExecutive Vice President25,500$15.3M54.8%Yes (adopted December 11, 2025)Too little history (no open-market trades in 2023 or 2024)
2026-08-07Holmes Joseph R.VP & Chief Accounting Officer420$246K12.4%NoToo little history (no open-market trades in 2023)
2026-08-07Casper Marc NChairman & CEO4,883$2.9M3.4%Yes (adopted April 27, 2026)Routine (sold in Mar each year 2023–2025; this trade is outside those months)
2026-08-06Britt Lisa P.Sr. VP and Chief HR Officer5,850$3.4M28.4%NoToo little history (no open-market trades in 2023)
2026-08-06Casper Marc NChairman & CEO15,000$8.6M10.5%Yes (adopted April 27, 2026)Routine (sold in Mar each year 2023–2025; this trade is outside those months)
2026-08-05Casper Marc NChairman & CEO15,000$8.6M10.1%Yes (adopted April 27, 2026)Routine (sold in Mar each year 2023–2025; this trade is outside those months)
2026-07-27Pettiti GianlucaPresident & COO400$226K1.6%Yes (adopted September 12, 2025)Opportunistic (traded every year 2023–2025, no repeating month)
2026-04-27Pettiti GianlucaPresident & COO400$185K1.6%Yes (adopted September 12, 2025)Opportunistic (traded every year 2023–2025, no repeating month)

% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).

Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

Analysts (TMO)

Consensus Buy (mean 2.11 on a 1–5 scale), 27 analysts; mean target USD 750.92 (low 560, high 830).

Rating changes, last 120 days:

DateFirmActionRatingPrice target
2026-10-22BarclaysTarget raisedOverweight$750 → $775
2026-10-22RBC CapitalTarget raisedSector Perform$580 → $730
2026-10-22TD CowenTarget raisedBuy$760 → $810
2026-10-22StifelTarget raisedBuy$650 → $775
2026-10-22BairdTarget raisedOutperform$723 → $756
2026-10-13Morgan StanleyTarget raisedOverweight$650 → $730
2026-10-13TD CowenTarget raisedBuy$675 → $760
2026-10-07BarclaysTarget raisedOverweight$650 → $750
2026-09-03CLSAInitiatedOutperform$748
2026-07-27Piper SandlerTarget raisedNeutral$510 → $600
2026-07-27Morgan StanleyTarget raisedOverweight$620 → $650
2026-07-24RBC CapitalTarget raisedSector Perform$490 → $580

Total return (dividends reinvested) (TMO)

1Y (from 2025-10-23)5Y (from 2021-10-18)
Total return+18.7%+12.1%
S&P 500 (SPY)+14.9%+80.3%
Per year+18.8%+2.3%
Volatility (annualized)29.2%27.5%
Max drawdown-31.4% (Jan 2026→May 2026)-40.5% (Dec 2021→May 2025)

TMO revenue by business segment (quarter ended Jun 27, 2026)

LineRevenueShare of totalYoY
Laboratory Products and Biopharma Services$6.69B55.8%+11.6%
Life Sciences Solutions$2.81B23.5%+12.6%
Analytical Instruments$1.85B15.4%+6.9%
Specialty Diagnostics$1.21B10.0%+6.3%
Total revenue$11.99B100%—

TMO revenue by product line (quarter ended Jun 27, 2026)

LineRevenueShare of totalYoY
Product revenues$6.82B56.9%+9.2%
— Consumables (part of Product revenues)$5.07B42.3%+10.1%
— Instruments (part of Product revenues)$1.75B14.6%+6.4%
Service revenues$5.17B43.1%+12.3%
Total revenue$11.99B100%—

TMO revenue by region (quarter ended Jun 27, 2026)

LineRevenueShare of totalYoY
North America$6.15B51.3%+7.5%
Europe$3.31B27.6%+17.0%
Asia-Pacific$2.10B17.5%+9.6%
Other regions$430.0M3.6%+12.3%
Total revenue$11.99B100%—

As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).

Companies that name TMO in their SEC reports

Relationship to TMOCompanyFilingSentence
partnerBIO-TECHNE Corp (TECH)10-K Aug 24, 2026“We sell our products directly to customers who are primarily located in North America, Europe and China, as well as through a distribution agreement with Thermo Fisher Scientific.”
competitorTRINITY BIOTECH PLC (TRIB)20-F Apr 30, 2026“The Group's competition includes several large companies such as, but not limited to: Abbott Diagnostics, Arkray, Becton Dickenson, Bio-Rad, Copan, Dexcom Inc., Diasorin Inc., Johnson & Johnson, Roche Diagnostics, Sebia, Siemens (from the combined acquisitions of Bayer, Dade-Behring and DPC), Thermo Fisher, Tosoh and Werfen.”
supplierBanzai International, Inc. (PARA)10-K Mar 31, 2026“Our customers include Amazon, Dell, Salesforce, Aflac, Thermo Fisher Scientific, RBC Wealth Management, Fitch Group, and many other globally recognized brands.”
competitorVOLITIONRX LTD (VNRX)10-K Mar 31, 2026“We face competition primarily from other human-focused healthcare, pharmaceutical and diagnostic companies such as Exact Sciences Corporation, Guardant Health, GRAIL Inc., Natera, Caris Life Sciences, Freenome Holdings Inc, CellMax Life, Archer DX Inc., Foundation Medicine Inc., Oncocyte Corporation, OpKo Health Inc., MDNA Life Sciences Inc., Abbott Laboratories Inc., Cepheid Inc., Hologic Corporation, Agilent Tec…”
partnerAIM ImmunoTech Inc. (AIM)10-K Mar 27, 2026“March 2026, we announced an agreement with the PPD clinical research business of Thermo Fisher Scientific to design AIM's”
customerHumacyte, Inc. (HUMA)10-K Mar 27, 2026“We source bioprocess solutions, including culture media and decellularization buffers, from a division of Thermo Fisher Scientific, which has a second production site to provide redundant media/buffer production capacity.”
partnerCAPRICOR THERAPEUTICS, INC. (CAPR)10-K Mar 17, 2026“On March 7, 2022, Capricor entered into a non-exclusive cell line license agreement with Life Technologies Corporation, a subsidiary of Thermo Fisher Scientific, Inc., for the supply of certain cells which we are utilizing in connection with the development of our exosomes platform.”
partnerTheriva Biologics, Inc. (TOVX)10-K Mar 12, 2026“Our OV platform viruses (e.g. VCN-01, VCN-11, and VCN - 12) are biologics that can be readily synthesized by processes that we have developed in collaboration with Contract and Development Manufacturing Organizations (CDMOs) such as Thermo Fisher, BioReliance, Recipharm Advanced Bio, Fujifilm Diosynth and others.”
competitor908 Devices Inc. (MASS)10-K Mar 9, 2026“We have a range of competitors extending from small, privately held companies with single-point solutions to large, publicly-held corporations, including those with a portfolio of Mass Spec and/or spectroscopy products, such as Agilent, Bruker, Danaher, Inficon, Teledyne, Rigaku, and Thermo Fisher Scientific.”
partnerStevanato Group S.p.A. (STVN)20-F Mar 4, 2026“In 2023 we announced a strategic collaboration with Thermo Fisher Scientific who will provide fill-and-finish and final assembly services related to Vertiva®.”
competitorQuantum-Si Inc (QSI)10-K Mar 3, 2026“We also may compete with a number of emerging growth companies that have developed, or are developing, proteomic products and solutions, such as Nautilus Biotechnology, Olink Proteomics (acquired by Thermo Fisher Scientific), Quanterix, Seer and SomaLogic (acquired by Illumina, Inc.).”
competitorSOPHiA GENETICS SA (SOPH)20-F Mar 3, 2026“We also face competition from companies that have developed software analytics platforms for genomics data, such as Agilent, Fabric Genomics, Illumina, Qiagen Digital Insights, Velsera Inc., Congenica Ltd and Thermo Fisher.”
customerSarepta Therapeutics, Inc. (SRPT)10-K Mar 2, 2026“$120.2 million decrease in manufacturing expenses primarily due to costs associated with the termination of the development, commercial manufacturing and supply agreement (the "Thermo Agreement") related to Brammer Bio MA, LLC, an affiliate of Thermo Fisher Scientific, Inc. ("Thermo") in 2024, with no similar activity in 2025;”
competitorAlpha Teknova, Inc. (TKNO)10-K Mar 2, 2026“Our Lab Essentials and Clinical Solutions products compete, based on turnaround time, performance, and quality, with products offered by numerous large, established life science companies such as Thermo Fisher, Millipore (Merck KGaA), Cytiva (Danaher), and Hardy Diagnostics, as well as smaller, companies such as GeminiBio, Boston BioProducts, and Biologos.”
competitorQuanterix Corp (QTRX)10-K Mar 2, 2026“Our Accelerator Laboratory competes with other research laboratories such as LabCorp, Covance, Q2 Solutions, Rules Based Medicine, Monogram Biosciences, Frontage, Thermo Fisher Scientific, and others, some of which are customers of ours.”

TMO company outlook (results filed Oct 21, 2026)

Quoted word-for-word from the SEC 8-K results press release.

TMO analyst estimates and revisions

PeriodEPS estimate90 days agoChangeRevenue estimateAnalysts
Current quarter (ends Dec 2026)$7.14$7.29-2.1%$12.86B21
Next quarter (ends Mar 2027)$6.05$5.99+1.0%$11.74B13
Current fiscal year (ends Dec 2026)$25.25$25.09+0.7%$47.99B27
Next fiscal year (ends Dec 2027)$27.76$27.45+1.1%$50.52B27

TMO options: expected move

ExpirationDaysATM implied volatilityExpected move
Oct 30, 2026736.5%±4.3%
Nov 6, 20261435.1%±5.7%
Nov 13, 20262133.9%±6.7%
Nov 20, 20262832.8%±7.4%
Nov 27, 20263531.6%±8.0%
Dec 4, 20264230.7%±8.5%
Dec 18, 20265631.9%±10.1%
Jan 15, 20278430.9%±11.9%

30-day implied volatility 31.5% vs 28% realized over the last 30 trading days. Put/call ratio (volume) 0.6. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.

Key Statistics (as of October 23, 2026 at 09:14 UTC)

PriceUSD 676.54
Change▼ 2.52% (down)
Previous CloseUSD 694.02
OpenUSD 691.7
Day RangeUSD 674.2 – 703.2
52-Week RangeUSD 435.27 – 705.79
Volume3,599,891 shares
Market Cap$250.15B
ExchangeNYQ

Technical Analysis (TMO)

Nexqual's technical model rates TMO "STRONG BUY" based on 5 bullish and 0 bearish signals across 127 daily candles, as of October 23, 2026 at 09:14 UTC.

Overall SignalSTRONG BUY
RSI (14)56.24 (neutral)
vs SMA50Above (USD 643.4)
MACD12.38 (positive)

Analyst Ratings (TMO)

Wall Street analysts rate TMO "Buy" based on 27 analysts, with a mean price target of USD 750.92 (range USD 560–830), per Nexqual as of October 23, 2026 at 09:14 UTC.

Consensus RatingBuy
Analyst Count27
Mean TargetUSD 750.92
High TargetUSD 830
Low TargetUSD 560
Buy / Hold / Sell23 / 3 / 1

Earnings (TMO)

Next Earnings Date2026-10-21
EPS EstimateUSD 7.14
Revenue Estimate$12.86B

Recent Earnings History

QuarterActual vs Estimate
2026-09-30USD 6.68 vs est 6.4 ▲ beat
2026-06-30USD 6.03 vs est 5.71 ▲ beat
2026-03-31USD 5.44 vs est 5.24 ▲ beat
2025-12-31USD 6.57 vs est 6.45 ▲ beat

Source: Nexqual, October 23, 2026 at 09:14 UTC.

Financials & Fundamentals (TMO)

Total Revenue$47.35B
Revenue Growth (latest quarter, YoY)+9.10%
Gross Margin+41.13%
Operating Margin+20.29%
Profit Margin+14.94%
ROE+13.38%
Debt / Equity0.75
Current Ratio1.81
Total Cash$6.06B
Total Debt$41.37B
Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K)$7.32B (15.8% of revenue)

Source: Nexqual, October 23, 2026 at 09:14 UTC.

Financial Health Score (TMO)

Nexqual rates Thermo Fisher Scientific Inc.'s overall financial health "Solid" across five dimensions, as of October 23, 2026 at 09:14 UTC.

GrowthMixed — Revenue +3.9% YoY (annual), slow
ProfitabilityStrong — Gross margin 41%, operating 20% (last 12 months)
Balance SheetMixed — $4.06B cash and investments vs $45.7B debt (Jun 2026, SEC)
Cash FlowStrong — FCF $7.32B (last 4 quarters to Jun 2026, SEC), 16% margin
EfficiencyMixed — ROE 13%, ROA 5.2%

Ownership (TMO)

Insider Ownership+0.13%
Institutional Ownership+94.07%
Shares Outstanding369.75M
Float369.07M
Short % of Float+1.46%

Source: Nexqual, October 23, 2026 at 09:14 UTC.

Leadership (TMO)

Thermo Fisher Scientific Inc. is led by Marc N. Casper, Chairman & CEO, per Nexqual as of October 23, 2026 at 09:14 UTC.

Chairman & CEOMarc N. Casper
President, COO & President of Products and TechnologiesGianluca Pettiti
Senior VP & CFOJames R. Meyer
Chief Scientific OfficerKaren E. Nelson
Vice President of Investor RelationsRafael Tejada

Major Backers & Investors (TMO)

Notable institutional backers of Thermo Fisher Scientific Inc. include FMR, LLC, Morgan Stanley, Fidelity, according to Nexqual as of October 23, 2026 at 09:14 UTC.

Active Investors

InvestorStake
FMR, LLC3.81%
Morgan Stanley2.91%
Fidelity2.42%
JPMorgan2.3%
Franklin Resources, Inc.1.97%
Capital Group1.68%

Index Funds (Passive)

FundStake
BlackRock8.36%
Vanguard Group8.25%
State Street4.55%
Geode Capital2.27%

Source: Nexqual, October 23, 2026 at 09:14 UTC.

From Thermo Fisher Scientific Inc.'s Latest SEC 10-K Filing (filed 2026-02-26)

Key Strengths & Strategy (as disclosed to the SEC)

Legal & Regulatory Risks (Item 1A, quoted)

Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.

Peers & Related Stocks

SymbolNamePriceChange
DHRDanaher CorporationUSD 229.75▼ 1.76%
NTRANatera, Inc.USD 401.37▼ 2.91%
AAgilent Technologies, Inc.USD 173.89▼ 2.17%
IQVIQVIA Holdings, Inc.USD 278.32▲ 0.61%
WATWaters CorporationUSD 455.59▼ 0.41%
IDXXIDEXX Laboratories, Inc.USD 566.76▲ 2.4%

Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:14 UTC. This page is informational and not investment advice.

For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt