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Thermo Fisher Scientific Inc.
S&P 500
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$237.2B
Market Cap
32.7
P/E
3.13
PEG
9.1%
ROCE
13.1%
ROE
0.74
D/E
17.4%
OPM
-0.7%
% from 52W High
81
α RS
🔍 TMO is showing a high-conviction setup because it matches 8 of 37 tracked screener presets, Sector RRG has Health Care in the Leading quadrant with the trail still strengthening, and RS Rating is 83. Net: Broad signal stack, not a recommendation. ? Conviction RRG RS Rating
Sources
Conviction 8/37 · Health Care in Leading quadrant · RS Rating 83
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🌏 Global Investor Returns
Currency-adjusted total returns for TMO including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

Thermo Fisher Scientific Inc. provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services internationally.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding TMO
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Manager Shares Value % of Fund Period
Andreas Halvorsen Viking Global Investors 1.67M $819.9M 2.29% Mar 2026
Steve Cohen Point72 Asset Management 353.5K $173.8M 0.22% Mar 2026
Jim Simons Renaissance Technologies LLC 139.0K $68.3M 0.11% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$11.99B
+10% YoY
Adjusted Operating Income
$2.73B
+15% YoY
Adjusted Operating Margin
22.8%
+0.9pp YoY
Adjusted EPS
$6.03
+13% YoY
What Went Right
  • Q2 revenue grew 10% to $11.99B with 5% organic growth, roughly $300M ahead of prior guidance.
  • Adjusted EPS of $6.03 beat guidance by $0.30, with adjusted operating income up 15% to $2.73B.
  • Broad-based end-market strength: pharma/biotech mid-single-digit, Analytical Instruments organic revenue +7%, and diagnostics/healthcare mid-single-digit growth.
What to Watch
  • Pending microbiology divestiture is expected to close in Q3, reducing FY26 revenue by about $200M and EPS by $0.05, with ~$0.15 dilution in the first full year.
  • Recent FX changes create a $0.05 second-half EPS headwind and lowered the full-year FX revenue tailwind to $200M, $100M below prior guidance.
  • Academic/government growth returned to positive but management is not yet calling it durable; China academic/government remains muted.
Management Guidance
  • FY26 revenue guidance raised to $47.4B-$48.1B, representing 6%-8% reported growth.
  • FY26 adjusted EPS guidance raised to $24.93-$25.33, representing 9%-11% growth, with midpoint up $0.25.
  • FY26 organic revenue growth raised to about 4%, at the upper end of the 3%-4% range.
  • Q3 adjusted EPS is expected to be $0.35-$0.40 higher than Q2.
Investor Lens
The thesis is stronger after this call. Thermo Fisher delivered a clean beat on both the top and bottom line, raised full-year revenue and EPS guidance, and described strengthening activity across every end market. Organic growth is expected to step up from 3% in the first half to about 4% in the second half, with acquisitions adding more than previously expected. The main offsets are the microbiology divestiture and FX, but the overall execution and guidance raise reinforce confidence in the growth strategy.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Q2 beats with 5% organic growth and 13% adjusted EPS growth.
Revenue
Revenue grew 10% to $11.99B in Q2, including 5% organic growth and a 5% contribution from acquisitions. Growth was broad-based, with pharma/biotech, industrial/applied, and diagnostics/healthcare all growing mid-single digits, while academic/government grew low single digits.
Profitability
Adjusted operating income rose 15% to $2.73B, and adjusted EPS grew 13% to $6.03, beating guidance by $0.30. GAAP EPS was $4.68, up 9% year-over-year.
Margins
Adjusted operating margin expanded 90 basis points to 22.8%. Adjusted gross margin was 41.4%, with strong productivity and volume leverage offsetting unfavorable mix and strategic investments.
Balance Sheet
Year-to-date free cash flow was $2.5B after $800M of net capital expenditures. The company ended the quarter with $4.1B of cash and $42.5B of total debt, and repurchased $1.0B of stock along with approximately $175M of dividends in Q2.
Key Risks
Management flagged the pending microbiology divestiture as a FY26 revenue and EPS drag, and recent FX changes created a second-half headwind. The academic/government recovery is encouraging but not yet considered durable, and China's academic/government market remains muted.
Outlook
Full-year 2026 revenue guidance was raised to $47.4B-$48.1B and adjusted EPS guidance to $24.93-$25.33. Organic growth is expected to be about 4% for the year, with Q3 adjusted EPS $0.35-$0.40 above Q2.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-23
Q2 delivered double-digit revenue and EPS growth, with strong performance across all segments and geographies. Full-year guidance was raised for both revenue and EPS, reflecting robust customer activity, successful acquisitions, and continued innovation.
Q1 2026 Q1 2026 2026-04-23
Q1 2026 saw 6% revenue and adjusted EPS growth, led by pharma/biotech and strong operational execution. Full-year guidance was raised for both revenue and EPS, reflecting Clario's acquisition and robust Q1 results. Margin expansion, disciplined capital deployment, and innovation position the company for continued growth.
Q4 2025 Q4 2025 2026-01-29
2025 saw strong revenue and EPS growth, driven by robust pharma/biotech performance, innovation, and disciplined capital deployment. 2026 guidance projects 4%–6% revenue growth and 6%–8% EPS growth, with continued share gains and strategic M&A, including the Clario acquisition.
Q3 2025 Q3 2025 2025-10-22
Q3 delivered 5% revenue and 10% adjusted EPS growth, driven by innovation and strong execution. Full-year 2025 guidance was raised for both revenue and EPS, with robust performance across most segments and continued active capital deployment.
Q2 2025 Q2 2025 2025-07-23
Q2 results exceeded guidance with 3% revenue growth and strong operational execution. Full-year 2025 guidance was raised for both revenue and EPS, with continued cost management and innovation driving performance. Near-term growth is expected to accelerate, supported by robust pharma/biotech demand and strategic acquisitions.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
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Information Sources:
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