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 +28.5%, Danaher +8.6%.
- Return on equity: Thermo Fisher Scientific 13.2%, Danaher 7.6%.
- Debt / equity: Thermo Fisher Scientific 0.8×, Danaher 0.5×.
- Market value: Thermo Fisher Scientific $255.13B, Danaher $161.01B.
Price return
2025-10-16 → 2026-10-16
DHR+8.6%
TMO+28.5%
Profile
latestSector
Healthcare
Healthcare
Industry
Medical - Diagnostics & Research
Medical - Diagnostics & Research
Market value
$161.01B
$255.13B
Enterprise value
$183.22B
$293.61B
Employees
59,000
125,000
Revenue per employee (TTM)
$426K
$371K
Our models
nightlythe valuation on each stock's pagePrice vs model
59% overvalued vs model
78% overvalued vs model
Model range
$88.59–347
$232–945
Models in the headline
1
1
FCF growth priced in, at a 10% return
18.9%
24.8%
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 2026-10-16Last close
$229.04
$690.00
52-week high
$242.05
$696.49
52-week low
$161.91
$438.34
Price vs 52-week high
−5.4%
−0.9%
Price vs 52-week low
+41.5%
+57.4%
Average daily volume / shares
0.6%
0.6%
Beta
0.80
0.88
Returns
to 2026-10-161 month
+9.9%
+6.4%
3 months
+11.7%
+27.0%
6 months
+18.2%
+33.7%
Year to date
+0.1%
+19.1%
1 year
+8.6%
+28.5%
1 year, dividends added
+9.3%
+28.9%
2 years
−14.5%
+16.6%
Valuation
price × TTM to Jun 2026P/E (TTM)
40.6×
37.1×
P/E on consensus EPS (next FY)
26.9×
27.4×
Price / sales
6.4×
5.5×
EV / sales
7.3×
6.3×
EV / EBITDA
—
—
Price / book
3.1×
4.8×
Price / free cash flow (FY)
30.6×
40.5×
Free-cash-flow yield (FY)
3.3%
2.5%
Growth
TTM and FY2025Revenue growth (TTM)
—
—
Revenue growth, consensus next FY
+7.3%
+7.5%
Revenue, 3-year CAGR
−7.9%
−0.3%
Revenue, 5-year CAGR
2.0%
6.7%
EPS growth (TTM)
—
—
EPS growth, consensus next FY
+68.4%
+41.7%
EPS, 3-year CAGR
−19.4%
0.2%
Free cash flow, 3-year CAGR
−10.6%
−3.1%
Diluted shares, 3-year change
−2.8%
−4.1%
Profitability
TTM to Jun 2026Gross margin (FY)†
60.9%
37.7%
Operating margin
20.4%
17.6%
EBITDA margin
—
—
Net margin
15.9%
15.0%
Free-cash-flow margin (FY)
21.4%
14.1%
Return on equity
7.6%
13.2%
Return on assets
4.3%
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 Jun 2026Cash
$4.35B
$4.06B
Total debt
$26.56B
$42.55B
Net debt
$22.21B
$38.48B
Debt / equity
0.5×
0.8×
Net debt / EBITDA (TTM)
—
—
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)
27.0%
9.9%
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
14
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 Jun 2026 · cash flow FY2025Revenue
$25.11B
$46.34B
EBITDA
—
—
Operating income
$5.13B
$8.15B
Net income
$4.00B
$6.97B
EPS (diluted)
$5.64
$18.59
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 from the companies' SEC filings; 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.