Danaher vs Thermo Fisher Scientific DHR vs TMO
Danaher and Thermo Fisher Scientific on one sheet: valuation multiples, growth, margins, debt, dividends and returns, each section labelled with the period it covers, from the companies' filings. Add or remove a stock above the sheet; the link holds the set.
DHRTMO
What differs most
- One-year price return: Thermo Fisher Scientific +19.6%, Danaher +4.5%.
- Return on equity: Thermo Fisher Scientific 13.0%, Danaher 8.1%.
- Market value: Thermo Fisher Scientific $253.24B, Danaher $163.77B.
- Debt / equity: Thermo Fisher Scientific 0.8×, Danaher 0.5×.
Price return
2025-10-26 → 2026-10-26
DHR+4.5%
TMO+19.6%
Profile
latestSector
Healthcare
Healthcare
Industry
Medical - Diagnostics & Research
Medical - Diagnostics & Research
Market value
$163.77B
$253.24B
Enterprise value
$184.57B
$289.15B
Employees
59,000
125,000
Revenue per employee (TTM)
$434K
$379K
Our models
nightlythe valuation on each stock's pagePrice vs model
105% overvalued vs model
114% overvalued vs model
Model range
$68.01–287
$185–814
Models in the headline
1
1
FCF growth priced in, at a 10% return
19.2%
24.7%
Every model, its assumptions and its range: DHR valuation · TMO valuation. The growth priced in, at any return: DHR reverse DCF · TMO reverse DCF.
Trading
close 2026-10-26Last close
$232.97
$684.89
52-week high
$242.05
$696.49
52-week low
$161.91
$438.34
Price vs 52-week high
−3.8%
−1.7%
Price vs 52-week low
+43.9%
+56.2%
Average daily volume / shares
0.7%
0.6%
Beta
0.80
0.88
Returns
to 2026-10-261 month
+3.8%
+1.5%
3 months
+21.7%
+20.5%
6 months
+31.4%
+45.8%
Year to date
+1.8%
+18.2%
1 year
+4.5%
+19.6%
1 year, dividends added
+5.1%
+20.0%
2 years
−5.1%
+23.5%
Valuation
price × TTM to Sep 2026P/E (TTM)
38.1×
36.1×
P/E on consensus EPS (next FY)
27.2×
27.1×
Price / sales
6.4×
5.3×
EV / sales
7.2×
6.1×
EV / EBITDA
26.0×
25.7×
Price / book
3.1×
4.6×
Price / free cash flow (FY)
31.1×
40.2×
Free-cash-flow yield (FY)
3.2%
2.5%
Growth
TTM and FY2025Revenue growth (TTM)
—
—
Revenue growth, consensus next FY
+7.1%
+7.7%
Revenue, 3-year CAGR
−2.7%
−0.3%
Revenue, 5-year CAGR
2.0%
6.7%
EPS growth (TTM)
—
—
EPS growth, consensus next FY
+69.7%
+42.2%
EPS, 3-year CAGR
−19.4%
0.2%
Free cash flow, 3-year CAGR
−10.6%
−3.1%
Diluted shares, 3-year change
−3.5%
−4.3%
Profitability
TTM to Sep 2026Gross margin (FY)†
60.9%
37.7%
Operating margin
20.4%
17.9%
EBITDA margin
27.7%
23.7%
Net margin
16.9%
15.0%
Free-cash-flow margin (FY)
21.4%
14.1%
Return on equity
8.1%
13.0%
Return on assets
4.6%
6.2%
Asset turnover
0.27
0.41
† Gross margin (FY): As filed. Companies draw the cost-of-revenue line in different places, so gross margins of two companies in one industry can differ for that reason alone; operating margin does not depend on where the line is drawn.
Balance sheet
MRQ Sep 2026Cash
$5.68B
$5.46B
Total debt
$26.48B
$41.37B
Net debt
$20.80B
$35.91B
Debt / equity
0.5×
0.8×
Net debt / EBITDA (TTM)
2.9×
3.2×
Interest coverage (FY)
19.4×
5.7×
Current ratio (FY)
1.87
1.89
Dividends
trailing 12 monthsDividend yield
0.7%
0.3%
Dividends per share
$1.52
$1.84
Payout ratio (of TTM EPS)
24.9%
9.7%
Dividend per share, 5-year CAGR
16.2%
13.0%
Frequency
Quarterly
Quarterly
Ownership and activity
last 90 days · latest 13FTracked superinvestors holding (13F)
14
15
Insider open-market buys (Form 4)
$0
$0
Insider sales (Form 4)
$12.7M
$2.7M
Analyst upgrades
0
0
Analyst downgrades
0
0
Statements
income TTM to Sep 2026 · cash flow FY2025Revenue
$25.61B
$47.35B
EBITDA
$7.09B
$11.23B
Operating income
$5.23B
$8.49B
Net income
$4.33B
$7.11B
EPS (diluted)
$6.11
$18.96
Operating cash flow
$6.42B
$7.82B
Capital expenditure
−$1.16B
−$1.52B
Free cash flow
$5.26B
$6.29B
Dividends paid
$878.0M
$636.0M
Keep comparing
Statements, prices, dividends and consensus estimates from Financial Modeling Prep; insider trades from Form 4 and holdings from 13F. Refreshed nightly. A comparison of filed numbers, not a recommendation to buy, sell or hold any security.