Thermo Fisher Scientific Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Thermo Fisher Scientific Inc (TMO) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Thermo Fisher Scientific Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 47,351M vs 351,331M combined for its competitors (11.9% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+2.5% annualized vs trailing 12 months), vs holding steady (+0.5%) for its tracked peer group.
- Growth: Thermo Fisher Scientific Inc generated 9.1% revenue growth year over year in Q3 2026, vs 1.0% for its competitors combined.
- Profitability: Its 14.2% net margin compares with 10.4% for the peer group.
- Scale: Thermo Fisher Scientific Inc ranks #1 of 21 companies by market capitalization in the Scientific & Technical Instruments industry, holding 45.5% of industry market cap.
- Peer revenue share: Thermo Fisher Scientific Inc accounted for 12.1% of combined revenue among its tracked peer group, up from 11.3% a year earlier.
- Peer differentiation: Revenue per employee of $0.38M compares with $0.74M for the peer group (0.5x).
- Structure: Thermo Fisher Scientific Inc operates in the following segments: Clinical Research, Research and Safety Market Channel, Pharma Services, Biosciences, BioProduction, Chromatography and Mass Spectrometry, Electron Microscopy, Genetic Sciences, Laboratory Products, Healthcare Market Channel, Chemical Analysis, Clinical Diagnostics, ImmunoDiagnostics, Transplant Diagnostics, Other Subsegment, Microbiology, Intersubsegment Eliminations; and reports the following subsidiaries: Pelican Acquisition Corporation (competes with Yeti Holdings Inc ).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
TMO Sales vs. its Competitors, Q3 2026
Thermo Fisher Scientific Inc reported revenue growth of 9.13 % year on year in Q3 2026, above its competitors' combined revenue growth of 0.98 %.
With a net margin of 14.18 %, Thermo Fisher Scientific Inc achieved higher profitability than its competitors (10.36 %).
Thermo Fisher Scientific Inc generated 12.09 % of the combined sales of its peer group, up from 11.29 % a year earlier.
Thermo Fisher Scientific Inc vs. its Competitors, Q3 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Thermo Fisher Scientific Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Thermo Fisher Scientific Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Thermo Fisher Scientific Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (10) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (2) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (5) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Thermo Fisher Scientific Inc's competitor groups requires a Commercial License.
For context: the Scientific & Technical Instruments industry grew revenue 14.1% year over year, combined, vs 9.1% for Thermo Fisher Scientific Inc. Thermo Fisher Scientific Inc's share of combined industry revenue moved from 49.87% to 47.70%, a loss of 2.17 percentage points.
Thermo Fisher Scientific Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Thermo Fisher Scientific Inc | Yes | Yes | Yes | No |
| Competitors combined (108) | ||||
| High-Confidence Competitors (35) | ||||
| Similar-Size Competitors (5) | ||||
| Similar Growth & Profitability (8) | 87.50 % (7 of 8) | 100.00 % (8 of 8) | 37.50 % (3 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
TMO Stock Performance relative to its Competitors
TMO Stock Performance relative to High-Confidence Competitors
TMO Stock Performance relative to Similar-Size Competitors
TMO Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Atyr Pharma Inc | 282.9% | Outperformed |
| 2 | 10x Genomics Inc | 282.9% | Outperformed |
| 3 | Twist Bioscience Corporation | 282.9% | Outperformed |
| 4 | Skywater Technology Inc | 282.9% | Outperformed |
| 5 | Maravai Lifesciences Holdings Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Thermo Fisher Scientific Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Thermo Fisher Scientific Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Thermo Fisher Scientific Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Thermo Fisher Scientific Inc |
258,138.09 | 47,351.00 |
 Taiwan Semiconductor Manufacturing Company Limited |
1,942,513.11 | 121,423.20 |
 Johnson and Johnson |
683,404.26 | 99,335.00 |
 Abbott Laboratories |
202,028.93 | 46,585.00 |
 Intuitive Surgical Inc |
168,618.15 | 12,115.60 |
 Danaher Corporation |
164,570.68 | 25,608.00 |
| SUBTOTAL | 4,921,721.69 | 1,586,772.84 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Thermo Fisher Scientific Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Thermo Fisher Scientific Inc's Competitors Named by the Company
Competitive relationships identified from Thermo Fisher Scientific Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Medpace Holdings Inc | Company report | 85% |
| Quanterix Corporation | Company report | 85% |
| Agilent Technologies inc | Company report | 85% |
| Twist Bioscience Corporation | Company report | 85% |
| Ingersoll Rand Inc | Company report | 85% |
| Quidelortho Corp | Company report | 85% |
| Cytek Biosciences Inc | Company report | 85% |
| Guardant Health Inc | Company report | 85% |
| Azenta Inc | Company report | 85% |
| Atlantic International Corp | Company report | 85% |
| Icon Plc | Company report | 85% |
| Iqvia Holdings Inc | Company report | 85% |
| Dlh Holdings Corp | Company report | 85% |
| Genetic Technologies Limited | Company report | 85% |
| Palisade Bio Inc | Company report | 85% |
| Greenland Exploration Limited | Company report | 85% |
| March GL Company | Company report | 85% |
| Nautilus Biotechnology Inc | Company report | 85% |
| Waters Corporation | Company report | 85% |
| Mirion Technologies Inc | Company report | 85% |
| Galera Therapeutics Inc | Company report | 85% |
| 908 Devices inc | Company report | 85% |
| Quantum si Incorporated | Company report | 85% |
| Maxcyte inc | Company report | 85% |
| Sophia Genetics Sa | Company report | 85% |
| Volitionrx Limited | Company report | 85% |
| Yeti Holdings Inc | Company report | 85% |
| Caredx Inc | Company report | 85% |
| SQL | Company report | 85% |
| Societal Cdmo Inc | Company report | 85% |
| Singular Genomics Systems Inc | Company report | 85% |
| Telesis Bio Inc | Company report | 85% |
| Emergent Biosolutions Inc | Company report | 85% |
| Auburn National Bancorporation Inc | Company report | 85% |
| Accelerate Diagnostics Inc | Company report | 85% |
| Idex Corp | Company report | 85% |
| Bio techne Corp | Company report | 85% |
| WEED, INC. | Company report | 85% |
| Bio rad Laboratories Inc | Company report | 85% |
| Us Nuclear Corp | Company report | 85% |
| Harvard Bioscience Inc | Company report | 85% |
| Veracyte Inc | Company report | 85% |
| Cue Health Inc | Company report | 85% |
| Evotec Se | Company report | 85% |
| Repligen Corp | Company report | 85% |
| Catalent Inc | Company report | 85% |
| Mettler toledo International Inc | Company report | 85% |
| Danaher Corporation | Company report | 85% |
| Steris Plc | Company report | 85% |
| 10x Genomics Inc | Company report | 85% |
| Cryoport inc | Company report | 85% |
| Qiagen N v | Company report | 85% |
| Standard Biotools Inc | Company report | 85% |
| Charles River Laboratories International inc | Company report | 85% |
| Illumina Inc | Company report | 85% |
| Pacific Biosciences Of California Inc | Company report | 85% |
| Revvity Inc | Company report | 85% |
| Johnson and Johnson | Company report | 85% |
| Maravai Lifesciences Holdings Inc | Company report | 85% |
| Abbott Laboratories | Company report | 85% |
| West Pharmaceutical Services Inc | Company report | 85% |
| American Bio Medica Corporation | Company report | 85% |
| Prophase Labs Inc | Company report | 85% |
| Cardinal Health Inc | Company report | 85% |
| Nanostring Technologies Inc | Company report | 85% |
| Corning Inc | Company report | 85% |
| Catheter Precision Inc | Company report | 85% |
| Bruker Corporation | Company report | 85% |
| Biomerica Inc | Company report | 85% |
| Qhslab Inc | Company report | 85% |
| 3m Company | Company report | 85% |
| Enzo Biochem Inc | Company report | 85% |
| Avantor Inc | Company report | 85% |
| Guided Therapeutics Inc | Company report | 85% |
| Lantheus Holdings Inc | Company report | 85% |
| Alpha Teknova Inc | Company report | 85% |
| Varian Medical Systems Inc | Company report | 85% |
| Somalogic Inc | Company report | 85% |
| Orasure Technologies Inc | Company report | 85% |
| Neogen Corporation | Company report | 85% |
| Psychemedics Corporation | Company report | 85% |
| Steris Plc | Company report | 85% |
| Astrotech Corp | Company report | 85% |
| Becton Dickinson And Company | Company report | 85% |
| Escalon Medical Corp | Company report | 85% |
| Quest Diagnostics Inc | Company report | 85% |
| Qt Imaging Holdings Inc exact Name Of Registrant As Specified In Its Charter ___ | Company report | 85% |
Company report basis, confidence, active dates and source counts for Thermo Fisher Scientific Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Thermo Fisher Scientific Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Thermo Fisher Scientific Inc | Clinical Research 20.15 % |
| Johnson and Johnson | Oncology 29.93 % |
| Abbott Laboratories | Diabetes Care 16.79 % |
| Danaher Corporation | Diagnostics 43.97 % |
| 3m Company | Safety and Industrial 48.33 % |
| Corning Inc | Optical Communications 49.00 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Thermo Fisher Scientific Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Thermo Fisher Scientific Inc | 258,138 | 378,808 | 56,712 |
| Taiwan Semiconductor Manufacturing Company Limited | 1,942,513 | 1,713,299 | 762,463 |
| Johnson and Johnson | 683,404 | 705,504 | 114,311 |
| Abbott Laboratories | 202,029 | 405,087 | 47,174 |
| Intuitive Surgical Inc | 168,618 | 711,803 | 174,578 |
| Danaher Corporation | 164,571 | 426,800 | 72,183 |
| PEERS TOTAL | 4,663,584 | 739,970 | 103,870 |
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Thermo Fisher Scientific Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Thermo Fisher Scientific Inc | North America 51.63 % |
| Johnson and Johnson | United States 58.90 % |
| Abbott Laboratories | Non-US 57.70 % |
| Intuitive Surgical Inc | Geographic Distribution, Foreign 29.66 % |
| Danaher Corporation | North America 41.81 % |
| 3m Company | United States 46.28 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
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Thermo Fisher Scientific Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 20 companies in Thermo Fisher Scientific Inc's industry classification, broader than the peer set above. Market cap in millions of $.Thermo Fisher Scientific Inc ranks #1 of 20 companies by market capitalization in its industry, holding 45.53 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 3,273, indicating a highly concentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Thermo Fisher Scientific Inc | 258,138 | 45.53 % |
| 2 | Kla Corporation | 186,768 | 32.94 % |
| 3 | Rockwell Automation Inc | 45,777 | 8.07 % |
| 4 | Coherent Corp | 35,089 | 6.19 % |
| 5 | Trimble Inc | 1,234 | 5.2% |
| 6 | Nova Ltd | 1,234 | 5.2% |
| 7 | Onto Innovation Inc | 1,234 | 5.2% |
| 8 | Mirion Technologies Inc | 1,234 | 5.2% |
| 9 | Camtek Ltd | 1,234 | 5.2% |
| 10 | 908 Devices inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Thermo Fisher Scientific Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-05.
Thermo Fisher Scientific Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Thermo Fisher Scientific Inc | 258,138 | 23.10 % |
| 2 | Kla Corporation | 186,768 | 19.09 % |
| 3 | Rockwell Automation Inc | 1,234 | 12.3% |
| 4 | Coherent Corp | 1,234 | 12.3% |
| 5 | Trimble Inc | 1,234 | 12.3% |
| 6 | Nova Ltd | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Thermo Fisher Scientific Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-05. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Thermo Fisher Scientific Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Scientific & Technical Instruments industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (36 companies). See the full Scientific & Technical Instruments industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 52.33 % | 38.96 % (avg) | +13.4 pp |
| Operating Margin | 17.88 % | industry median | - |
| EBITDA Margin | 23.37 % | 4.25 % (avg) | +19.1 pp |
| Capital Intensity (Capex / Revenue) | 3.65 % | 6.21 % (avg) | -2.6 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Thermo Fisher Scientific Inc's Valuation vs Competitive Position
Valuation multiples vs the Scientific & Technical Instruments industry average (36 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Scientific & Technical Instruments industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 31.4x | 60.0x | -28.6x |
| EV / EBITDA | 23.3x | 24.4x | -1.1x |
| P/B | 4.1x | 4.7x | -0.6x |
| Return on Equity | 13.32 % | industry aggregate | -55.11 % |
| Return on Invested Capital | 5.71 % | -0.95 % (avg) | 6.66 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Thermo Fisher Scientific Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 16.45 % | 4.86 % | 26.14 % | 21.71 % | 14.55 % | -4.58 % | 0.05 % | 3.91 % |
| Operating Margin | 15.53 % | 17.99 % | 24.19 % | 25.57 % | 18.69 % | 16.00 % | 17.11 % | 17.38 % |
| Return on Invested Capital | 4.95 % | 5.77 % | 8.90 % | 9.58 % | 7.05 % | 5.75 % | 5.81 % | 5.73 % |
| P/E | 32.5x | 34.7x | 30.1x | 32.2x | 31.2x | 31.3x | 33.3x | 31.9x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Thermo Fisher Scientific Inc's Strategic Group Map
Thermo Fisher Scientific Inc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Thermo Fisher Scientific Inc's trailing-12-month revenue growth of 8.3% and operating margin of 17.9% compares with an average of 7.9% growth and 19.1% margin across its 8 closest peers by combined growth, margin and ROIC -- Thermo Fisher Scientific Inc sits above that peer average on growth and below it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Thermo Fisher Scientific Inc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Thermo Fisher Scientific Inc falls in the Cash Cow quadrant: relative market share of 1.38x vs its largest competitor, in an industry growing revenue 8.3% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Thermo Fisher Scientific Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Low | Industry HHI of 3,273 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 3.65 % vs industry average 6.21 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Thermo Fisher Scientific Inc's dedicated Suppliers and Customers pages, not here.
Thermo Fisher Scientific Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Thermo Fisher Scientific Inc falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Thermo Fisher Scientific Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Market leader by capitalization in its industry (#1 of 20, 45.53 % share).
- Latest-quarter revenue run-rate is accelerating (+2.5% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Return on equity 55.1 points below the industry aggregate.
Opportunities
- Trades at a lower P/E than the industry average (31.4x vs 60.0x) despite a higher return on invested capital -- a possible re-rating opportunity.
Threats
- Losing revenue share to the broader industry (-2.2 points over the past year).
Methodology: see Methodology: SWOT Analysis.
Thermo Fisher Scientific Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Thermo Fisher Scientific Inc | 0.39 | 1.69 | 0.81 |
| Taiwan Semiconductor Manufacturing Company Limited | 1.82 | 2.51 | 0.02 |
| Johnson and Johnson | 0.36 | 1.04 | 0.60 |
| Abbott Laboratories | 0.42 | 1.50 | 0.44 |
| Intuitive Surgical Inc | 1.33 | 4.37 | - |
| Danaher Corporation | - | 1.75 | 0.45 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Thermo Fisher Scientific Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Thermo Fisher Scientific Inc | Q3 2026 | +9.1 % | +6.2 % |
| Taiwan Semiconductor Manufacturing Company Limited | Q4 2025 | +37.6 % | +53.1 % |
| Johnson and Johnson | Q3 2026 | +5.9 % | -95.9 % |
| Abbott Laboratories | Q2 2026 | +13.0 % | -47.8 % |
| Intuitive Surgical Inc | Q3 2026 | +32.7 % | -26.3 % |
| Danaher Corporation | Q3 2026 | +8.3 % | +36.0 % |
| PEERS TOTAL | +14.0 % | +50.3 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Thermo Fisher Scientific Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Thermo Fisher Scientific Inc | Q3 2026 | +133.0 % | +8.2 % |
| Taiwan Semiconductor Manufacturing Company Limited | Q4 2025 | +25.7 % | +39.1 % |
| Johnson and Johnson | Q3 2026 | +10.9 % | +17.7 % |
| Abbott Laboratories | Q2 2026 | +9.7 % | -1.0 % |
| Intuitive Surgical Inc | Q3 2026 | +14.5 % | +7.3 % |
| Danaher Corporation | Q3 2026 | +7.4 % | -12.7 % |
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Thermo Fisher Scientific Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Thermo Fisher Scientific Inc | 6.29% | 7.46% | 13.32% |
| Taiwan Semiconductor Manufacturing Company Limited | 21.37% | 26.29% | 31.41% |
| Johnson and Johnson | 8.06% | 10.53% | 19.55% |
| Abbott Laboratories | 5.56% | 6.45% | 10.41% |
| Intuitive Surgical Inc | 14.71% | 16.30% | 16.99% |
| Danaher Corporation | 4.91% | 5.57% | 8.18% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Thermo Fisher Scientific Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Thermo Fisher Scientific Inc | 36.78 | 5.45 |
| Taiwan Semiconductor Manufacturing Company Limited | 70.01 | 16.00 |
| Johnson and Johnson | 42.22 | 6.88 |
| Abbott Laboratories | 37.27 | 4.34 |
| Intuitive Surgical Inc | 58.20 | 13.92 |
| Danaher Corporation | 38.17 | 6.43 |
| PEERS AVERAGE | 22.05 | 3.10 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.