THERMO FISHER SCIENTIFIC INC (TN8.DE) Fundamental Analysis & Valuation

FRA:TN8 • US8835561023

Current stock price

402.2 EUR
+8.3 (+2.11%)
Last:

This TN8.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

6

1. TN8.DE Profitability Analysis

1.1 Basic Checks

  • In the past year TN8 was profitable.
  • TN8 had a positive operating cash flow in the past year.
  • TN8 had positive earnings in each of the past 5 years.
  • TN8 had a positive operating cash flow in each of the past 5 years.
TN8.DE Yearly Net Income VS EBIT VS OCF VS FCFTN8.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

1.2 Ratios

  • The Return On Assets of TN8 (6.05%) is better than 81.25% of its industry peers.
  • The Return On Equity of TN8 (13.18%) is better than 87.50% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 5.85%, TN8 is in line with its industry, outperforming 43.75% of the companies in the same industry.
  • TN8 had an Average Return On Invested Capital over the past 3 years of 6.18%. This is in line with the industry average of 7.18%.
Industry RankSector Rank
ROA 6.05%
ROE 13.18%
ROIC 5.85%
ROA(3y)6.22%
ROA(5y)6.79%
ROE(3y)12.72%
ROE(5y)14.58%
ROIC(3y)6.18%
ROIC(5y)6.93%
TN8.DE Yearly ROA, ROE, ROICTN8.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • Looking at the Profit Margin, with a value of 15.15%, TN8 belongs to the top of the industry, outperforming 87.50% of the companies in the same industry.
  • In the last couple of years the Profit Margin of TN8 has declined.
  • With a decent Operating Margin value of 18.15%, TN8 is doing good in the industry, outperforming 75.00% of the companies in the same industry.
  • TN8's Operating Margin has declined in the last couple of years.
  • The Gross Margin of TN8 (40.89%) is comparable to the rest of the industry.
  • In the last couple of years the Gross Margin of TN8 has declined.
Industry RankSector Rank
OM 18.15%
PM (TTM) 15.15%
GM 40.89%
OM growth 3Y-1.32%
OM growth 5Y-5.71%
PM growth 3Y-0.93%
PM growth 5Y-5.33%
GM growth 3Y-1.04%
GM growth 5Y-3.78%
TN8.DE Yearly Profit, Operating, Gross MarginsTN8.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40 50

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4

2. TN8.DE Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so TN8 is destroying value.
  • TN8 has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for TN8 has been reduced compared to 5 years ago.
  • TN8 has a worse debt/assets ratio than last year.
TN8.DE Yearly Shares OutstandingTN8.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M
TN8.DE Yearly Total Debt VS Total AssetsTN8.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B 80B 100B

2.2 Solvency

  • TN8 has a debt to FCF ratio of 6.40. This is a slightly negative value and a sign of low solvency as TN8 would need 6.40 years to pay back of all of its debts.
  • TN8's Debt to FCF ratio of 6.40 is fine compared to the rest of the industry. TN8 outperforms 68.75% of its industry peers.
  • A Debt/Equity ratio of 0.77 indicates that TN8 is somewhat dependend on debt financing.
  • TN8 has a Debt to Equity ratio (0.77) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.77
Debt/FCF 6.4
Altman-Z N/A
ROIC/WACC0.57
WACC10.33%
TN8.DE Yearly LT Debt VS Equity VS FCFTN8.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B 50B

2.3 Liquidity

  • A Current Ratio of 1.53 indicates that TN8 should not have too much problems paying its short term obligations.
  • The Current ratio of TN8 (1.53) is comparable to the rest of the industry.
  • TN8 has a Quick Ratio of 1.15. This is a normal value and indicates that TN8 is financially healthy and should not expect problems in meeting its short term obligations.
  • TN8's Quick ratio of 1.15 is in line compared to the rest of the industry. TN8 outperforms 56.25% of its industry peers.
Industry RankSector Rank
Current Ratio 1.53
Quick Ratio 1.15
TN8.DE Yearly Current Assets VS Current LiabilitesTN8.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B 25B

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4

3. TN8.DE Growth Analysis

3.1 Past

  • TN8 shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 5.75%.
  • TN8 shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 3.19% yearly.
  • The Revenue has been growing slightly by 5.36% in the past year.
  • Measured over the past years, TN8 shows a small growth in Revenue. The Revenue has been growing by 6.70% on average per year.
EPS 1Y (TTM)5.75%
EPS 3Y-0.53%
EPS 5Y3.19%
EPS Q2Q%5.63%
Revenue 1Y (TTM)5.36%
Revenue growth 3Y-0.27%
Revenue growth 5Y6.7%
Sales Q2Q%6.18%

3.2 Future

  • Based on estimates for the next years, TN8 will show a quite strong growth in Earnings Per Share. The EPS will grow by 12.97% on average per year.
  • The Revenue is expected to grow by 5.26% on average over the next years.
EPS Next Y8.48%
EPS Next 2Y8.83%
EPS Next 3Y9.44%
EPS Next 5Y12.97%
Revenue Next Year6.12%
Revenue Next 2Y5.61%
Revenue Next 3Y5.97%
Revenue Next 5Y5.26%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
TN8.DE Yearly Revenue VS EstimatesTN8.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 10B 20B 30B 40B 50B
TN8.DE Yearly EPS VS EstimatesTN8.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 10 20 30 40

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4

4. TN8.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 20.34, TN8 is valued on the expensive side.
  • Based on the Price/Earnings ratio, TN8 is valued a bit cheaper than 62.50% of the companies in the same industry.
  • When comparing the Price/Earnings ratio of TN8 to the average of the S&P500 Index (27.42), we can say TN8 is valued slightly cheaper.
  • TN8 is valuated rather expensively with a Price/Forward Earnings ratio of 17.39.
  • Based on the Price/Forward Earnings ratio, TN8 is valued a bit cheaper than the industry average as 62.50% of the companies are valued more expensively.
  • The average S&P500 Price/Forward Earnings ratio is at 22.29. TN8 is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 20.34
Fwd PE 17.39
TN8.DE Price Earnings VS Forward Price EarningsTN8.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, TN8 is valued a bit more expensive than the industry average as 62.50% of the companies are valued more cheaply.
  • TN8's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. TN8 is cheaper than 68.75% of the companies in the same industry.
Industry RankSector Rank
P/FCF 25.95
EV/EBITDA 19.51
TN8.DE Per share dataTN8.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 50 -50 100

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates TN8 does not grow enough to justify the current Price/Earnings ratio.
  • TN8 has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)2.4
PEG (5Y)6.38
EPS Next 2Y8.83%
EPS Next 3Y9.44%

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3

5. TN8.DE Dividend Analysis

5.1 Amount

  • TN8 has a yearly dividend return of 0.40%, which is pretty low.
  • In the last 3 months the price of TN8 has falen by -25.21%. A price decline artificially increases the dividend yield. It may be a sign investors do not expect the dividend to last.
  • TN8's Dividend Yield is slightly below the industry average, which is at 0.57.
  • Compared to an average S&P500 Dividend Yield of 1.81, TN8's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.4%

5.2 History

  • On average, the dividend of TN8 grows each year by 14.67%, which is quite nice.
Dividend Growth(5Y)14.67%
Div Incr Years5
Div Non Decr Years5
TN8.DE Yearly Dividends per shareTN8.DE Yearly Dividends per shareYearly Dividends per share 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5

5.3 Sustainability

  • TN8 pays out 9.48% of its income as dividend. This is a sustainable payout ratio.
  • TN8's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP9.48%
EPS Next 2Y8.83%
EPS Next 3Y9.44%
TN8.DE Yearly Income VS Free CF VS DividendTN8.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B
TN8.DE Dividend Payout.TN8.DE Dividend Payout, showing the Payout Ratio.TN8.DE Dividend Payout.PayoutRetained Earnings

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TN8.DE Fundamentals: All Metrics, Ratios and Statistics

THERMO FISHER SCIENTIFIC INC

FRA:TN8 (4/24/2026, 7:00:00 PM)

402.2

+8.3 (+2.11%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryLife Sciences Tools & Services
Earnings (Last)04-23
Earnings (Next)07-21
Inst Owners95.33%
Inst Owner ChangeN/A
Ins Owners0.09%
Ins Owner ChangeN/A
Market Cap149.47B
Revenue(TTM)45.20B
Net Income(TTM)6.85B
Analysts84
Price Target569.61 (41.62%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.4%
Yearly Dividend1.43
Dividend Growth(5Y)14.67%
DP9.48%
Div Incr Years5
Div Non Decr Years5
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)1.96%
Min EPS beat(2)0.91%
Max EPS beat(2)3.01%
EPS beat(4)4
Avg EPS beat(4)2.47%
Min EPS beat(4)0.91%
Max EPS beat(4)4.37%
EPS beat(8)6
Avg EPS beat(8)1.87%
EPS beat(12)8
Avg EPS beat(12)1.35%
EPS beat(16)11
Avg EPS beat(16)2.01%
Revenue beat(2)2
Avg Revenue beat(2)0.81%
Min Revenue beat(2)0.41%
Max Revenue beat(2)1.21%
Revenue beat(4)4
Avg Revenue beat(4)0.8%
Min Revenue beat(4)0.41%
Max Revenue beat(4)1.21%
Revenue beat(8)6
Avg Revenue beat(8)0.18%
Revenue beat(12)8
Avg Revenue beat(12)-0.19%
Revenue beat(16)11
Avg Revenue beat(16)1.35%
PT rev (1m)0.09%
PT rev (3m)1.04%
EPS NQ rev (1m)0.06%
EPS NQ rev (3m)-1.27%
EPS NY rev (1m)0.03%
EPS NY rev (3m)-0.19%
Revenue NQ rev (1m)0.5%
Revenue NQ rev (3m)0.74%
Revenue NY rev (1m)0.31%
Revenue NY rev (3m)0.99%
Valuation
Industry RankSector Rank
PE 20.34
Fwd PE 17.39
P/S 3.87
P/FCF 25.95
P/OCF 21.13
P/B 3.37
P/tB N/A
EV/EBITDA 19.51
EPS(TTM)19.77
EY4.92%
EPS(NY)23.13
Fwd EY5.75%
FCF(TTM)15.5
FCFY3.85%
OCF(TTM)19.04
OCFY4.73%
SpS103.84
BVpS119.34
TBVpS-51.45
PEG (NY)2.4
PEG (5Y)6.38
Graham Number230.399 (-42.72%)
Profitability
Industry RankSector Rank
ROA 6.05%
ROE 13.18%
ROCE 8.32%
ROIC 5.85%
ROICexc 6.05%
ROICexgc 27.41%
OM 18.15%
PM (TTM) 15.15%
GM 40.89%
FCFM 14.93%
ROA(3y)6.22%
ROA(5y)6.79%
ROE(3y)12.72%
ROE(5y)14.58%
ROIC(3y)6.18%
ROIC(5y)6.93%
ROICexc(3y)6.79%
ROICexc(5y)7.57%
ROICexgc(3y)30.99%
ROICexgc(5y)35.86%
ROCE(3y)8.78%
ROCE(5y)9.93%
ROICexgc growth 3Y-13.91%
ROICexgc growth 5Y-12.87%
ROICexc growth 3Y-6.93%
ROICexc growth 5Y-10.12%
OM growth 3Y-1.32%
OM growth 5Y-5.71%
PM growth 3Y-0.93%
PM growth 5Y-5.33%
GM growth 3Y-1.04%
GM growth 5Y-3.78%
F-Score4
Asset Turnover0.4
Health
Industry RankSector Rank
Debt/Equity 0.77
Debt/FCF 6.4
Debt/EBITDA 3.64
Cap/Depr 54.73%
Cap/Sales 3.41%
Interest Coverage 250
Cash Conversion 75.2%
Profit Quality 98.51%
Current Ratio 1.53
Quick Ratio 1.15
Altman-Z N/A
F-Score4
WACC10.33%
ROIC/WACC0.57
Cap/Depr(3y)47.77%
Cap/Depr(5y)61.4%
Cap/Sales(3y)3.38%
Cap/Sales(5y)4.31%
Profit Quality(3y)108.04%
Profit Quality(5y)102.29%
High Growth Momentum
Growth
EPS 1Y (TTM)5.75%
EPS 3Y-0.53%
EPS 5Y3.19%
EPS Q2Q%5.63%
EPS Next Y8.48%
EPS Next 2Y8.83%
EPS Next 3Y9.44%
EPS Next 5Y12.97%
Revenue 1Y (TTM)5.36%
Revenue growth 3Y-0.27%
Revenue growth 5Y6.7%
Sales Q2Q%6.18%
Revenue Next Year6.12%
Revenue Next 2Y5.61%
Revenue Next 3Y5.97%
Revenue Next 5Y5.26%
EBIT growth 1Y4.68%
EBIT growth 3Y-1.59%
EBIT growth 5Y0.61%
EBIT Next Year19.38%
EBIT Next 3Y11.63%
EBIT Next 5Y10.22%
FCF growth 1Y-10.77%
FCF growth 3Y-3.07%
FCF growth 5Y-1.58%
OCF growth 1Y-7.2%
OCF growth 3Y-5.12%
OCF growth 5Y-1.16%

THERMO FISHER SCIENTIFIC INC / TN8.DE Fundamental Analysis FAQ

What is the fundamental rating for TN8 stock?

ChartMill assigns a fundamental rating of 4 / 10 to TN8.DE.


What is the valuation status for TN8 stock?

ChartMill assigns a valuation rating of 3 / 10 to THERMO FISHER SCIENTIFIC INC (TN8.DE). This can be considered as Overvalued.


How profitable is THERMO FISHER SCIENTIFIC INC (TN8.DE) stock?

THERMO FISHER SCIENTIFIC INC (TN8.DE) has a profitability rating of 5 / 10.


Can you provide the PE and PB ratios for TN8 stock?

The Price/Earnings (PE) ratio for THERMO FISHER SCIENTIFIC INC (TN8.DE) is 20.34 and the Price/Book (PB) ratio is 3.37.


What is the earnings growth outlook for THERMO FISHER SCIENTIFIC INC?

The Earnings per Share (EPS) of THERMO FISHER SCIENTIFIC INC (TN8.DE) is expected to grow by 8.48% in the next year.