Last 48 quarters of trend data · Healthcare · Medical - Diagnostics & Research
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Thermo Fisher Scientific Inc.'s quarterly P/E stands at 26.7x, down 15.0% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has expanded 9.4% YoY to 23.6x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 26.19 | 26.71 | 27.80 | 27.18 | 23.85 | 31.42 | 27.21 | 36.23 | 34.22 | 41.99 | 31.59 | 28.63 | 37.16 |
| — | -15.0% | +2.2% | -25.0% | -30.3% | -25.2% | -13.9% | +26.5% | -7.9% | -3.2% | -8.0% | -14.7% | +14.4% | |
| P/S Ratio | 3.88 | 4.01 | 4.47 | 3.94 | 3.55 | 4.57 | 4.37 | 5.57 | 5.02 | 5.39 | 4.73 | 4.64 | 4.74 |
| — | -12.3% | +2.3% | -29.1% | -29.2% | -15.2% | -7.6% | +19.9% | +6.1% | +3.3% | +0.1% | -1.0% | -3.8% | |
| P/B Ratio | 3.27 | 3.39 | 4.08 | 3.43 | 3.05 | 3.83 | 4.01 | 4.81 | 4.46 | 4.89 | 4.40 | 4.32 | 4.61 |
| — | -11.5% | +1.7% | -28.6% | -31.6% | -21.7% | -8.8% | +11.2% | -3.3% | -7.2% | -10.3% | -5.7% | -9.4% | |
| P/FCF | 27.44 | 54.09 | 18.25 | 23.91 | 34.92 | 131.27 | 17.73 | 31.14 | 31.92 | 61.72 | 15.52 | 23.58 | 40.29 |
| — | -58.8% | +3.0% | -23.2% | +9.4% | +112.7% | +14.2% | +32.1% | -20.8% | -70.1% | -15.8% | -34.6% | -23.7% | |
| EV / EBITDA | 18.70 | 23.60 | 20.59 | 20.07 | 17.77 | 21.57 | 18.94 | 25.09 | 23.56 | 24.77 | 20.70 | 19.94 | 22.13 |
| — | +9.4% | +8.7% | -20.0% | -24.6% | -12.9% | -8.5% | +25.8% | +6.5% | -0.6% | -3.9% | -8.6% | +0.6% | |
| EV / EBIT | 25.11 | 28.79 | 25.07 | 24.04 | 21.89 | 28.55 | 24.51 | 30.77 | 27.45 | 32.46 | 26.82 | 26.13 | 33.21 |
| — | +0.8% | +2.3% | -21.9% | -20.3% | -12.0% | -8.6% | +17.8% | -17.4% | -15.5% | -10.0% | -18.2% | +12.3% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Thermo Fisher Scientific Inc.'s operating margin was 16.9% in Q1 2026, down 1.9 pp QoQ and down 0.8 pp YoY.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.7% | 40.7% | 38.0% | 41.8% | 37.3% | 41.0% | 39.2% | 41.0% | 41.2% | 40.8% | 36.3% | 41.0% | 39.9% |
| — | -0.7% | -3.2% | +2.1% | -9.5% | +0.5% | +8.0% | +0.0% | +3.2% | +4.3% | +0.0% | +1.2% | -4.4% | |
| Operating Margin | 18.2% | 16.9% | 18.8% | 17.5% | 17.7% | 17.8% | 19.9% | 18.1% | 16.7% | 16.6% | 18.3% | 18.7% | 16.7% |
| — | -4.6% | -5.3% | -3.4% | +5.9% | +6.8% | +8.8% | -3.2% | +0.1% | +4.5% | +5.5% | +13.4% | -5.8% | |
| Net Margin | 15.1% | 15.0% | 16.2% | 14.5% | 14.9% | 14.5% | 16.1% | 15.4% | 14.7% | 12.8% | 15.0% | 16.2% | 12.7% |
| — | +3.2% | +0.7% | -5.5% | +1.4% | +13.3% | +7.3% | -5.2% | +15.3% | +6.7% | +8.8% | +15.8% | -16.0% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.1% | 3.1% | 3.8% | 3.2% | 3.2% | 3.0% | 3.7% | 3.4% | 3.3% | 2.9% | 3.5% | 3.8% | 3.2% |
| — | +2.9% | +1.8% | -5.8% | -2.8% | +5.8% | +4.9% | -12.1% | +5.4% | -3.5% | -1.5% | +10.6% | -20.8% | |
| ROA | 6.5% | 1.5% | 1.9% | 1.6% | 1.6% | 1.5% | 1.9% | 1.6% | 1.6% | 1.4% | 1.7% | 1.8% | 1.4% |
| — | -3.8% | -0.0% | -3.5% | +2.0% | +13.2% | +11.2% | -8.6% | +9.8% | +0.9% | -0.9% | +8.7% | -20.6% | |
| ROIC | 7.5% | 1.6% | 2.0% | 1.8% | 1.8% | 1.7% | 2.2% | 1.8% | 1.7% | 1.7% | 2.0% | 2.0% | 1.8% |
| — | -9.4% | -5.2% | -5.0% | +2.8% | +2.2% | +7.9% | -6.8% | -3.0% | -2.4% | -5.1% | +5.9% | -12.3% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Thermo Fisher Scientific Inc.'s Debt/EBITDA ratio is 18.8x, up from 13.5x last quarter — elevated, raising questions about debt serviceability. The current ratio has weakened 14.0% YoY to 1.53x, tightening the short-term liquidity position. Debt/Equity has risen for 6 consecutive quarters, indicating increasing financial leverage that investors should watch closely.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.76 | 0.83 | 0.76 | 0.70 | 0.70 | 0.69 | 0.66 | 0.72 | 0.74 | 0.78 | 0.78 | 0.78 | 0.77 |
| — | +20.0% | +15.7% | -3.0% | -6.5% | -11.5% | -15.1% | -7.3% | -3.8% | -6.1% | -4.8% | +16.4% | +8.7% | |
| Debt / EBITDA | 3.75 | 18.82 | 13.49 | 13.69 | 13.54 | 13.43 | 10.89 | 13.30 | 13.90 | 13.93 | 12.87 | 12.48 | 12.90 |
| — | +40.1% | +23.9% | +3.0% | -2.6% | -3.6% | -15.4% | +6.5% | +7.7% | +1.3% | +1.1% | +11.1% | +18.4% | |
| Current Ratio | 1.89 | 1.53 | 1.89 | 1.50 | 1.93 | 1.77 | 1.66 | 1.63 | 1.72 | 1.70 | 1.75 | 1.63 | 1.42 |
| — | -14.0% | +13.8% | -8.1% | +12.1% | +4.6% | -5.4% | -0.1% | +21.7% | +33.3% | +18.3% | -6.0% | -13.9% | |
| Quick Ratio | 1.53 | 1.15 | 1.53 | 1.11 | 1.50 | 1.38 | 1.29 | 1.26 | 1.37 | 1.33 | 1.39 | 1.25 | 1.02 |
| — | -16.5% | +19.1% | -11.6% | +9.0% | +3.8% | -7.5% | +0.6% | +35.1% | +45.0% | +20.8% | +2.3% | -10.1% | |
| Interest Coverage | 6.12 | 5.31 | 6.82 | 6.27 | 5.23 | 6.35 | 6.06 | 5.11 | 5.19 | 5.37 | 4.92 | 5.49 | 5.39 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying TMO stock.
Thermo Fisher Scientific Inc.'s current P/E is 26.2x. The average P/E over the last 4 quarters is 26.4x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Thermo Fisher Scientific Inc.'s current operating margin is 18.2%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Thermo Fisher Scientific Inc.'s business trajectory between earnings reports.