NYSE:TMO

THERMO FISHER SCIENTIFIC INC.

United StatesConsumerMeasuring & Controlling Devices, NECNYSE

676.94

USD · Close 5 Nov 2026

Intrinsic value vs last close

Model estimate

Close above intrinsic value

−30.2%Intrinsic value vs last close

−50%At last close+100%+500%

Last close (USD): 676.94
Intrinsic value (USD): 472.34

Intrinsic value = sector model's value (no adjustment)

Earnings-capitalised value

230.19−66.0%vs last close

Cost of equity 11.9% · price volatility 29.3%

Last year's earnings per share, capitalised at a cost of equity that rises with this share's own price swings, growing at the sector's long-run rate.

This is a different figure from the intrinsic value above. The intrinsic value is what the sector model says the business is worth. On Vietnamese stocks this figure has ranked future returns best in our track record; this market has no track record here yet.

Also note

Historical growth has declined.

Comparison assessed 5 Nov 2026Valid through 5 Dec 2026

Model reliability: Medium; Model fitInput stabilityRisk checks; High requires the model’s diagnostic criteria to be met.
Probability of outperforming peers: Not assessed; A separate peer-outperformance probability is unavailable for this valuation.

Assessed 5 Nov 2026Not updated with daily prices

These assessments address different questions. Neither establishes that the displayed valuation is correct or guarantees a future return.

Published filingsValued 5 Nov 2026Anchored to close on 5 Nov 2026The gap is recalculated when the close changes; the value updates weekly.

Valuation Breakdown

Measuring & Controlling Devices, NEC→Consumer

Classified as consumer from the industry its market data reports: “Measuring & Controlling Devices, NEC”.

ModelFCF-Based DCF

Intrinsic = 70% x DCF Value + 30% x (Fair P/E x EPS)

A Discounted Cash Flow model built on Free Cash Flow (FCF), the cash a business generates after operating expenses and capital expenditures. Future FCF is projected for 10 years with gradually decaying growth, then discounted to today's value using WACC. The DCF value is blended 70/30 with a value from the company's own historical P/E.

Technical details

Why this model

Consumer staples/retail generate steady, predictable free cash flows, making them ideal for DCF. The time value of money principle means a dollar today is worth more than a dollar tomorrow. DCF captures this by discounting future cash flows at a rate reflecting the investment's risk (WACC).

How it works

Takes 3-year median FCF as the base. Estimates growth via ROIC x reinvestment rate (Damodaran framework), falling back to historical revenue growth. Projects 10 years with decay toward the sector's long-run growth rate. Discounts at CAPM-derived WACC. Blends 70% of the DCF value with 30% of a P/E value: the company's 5-year median P/E, held between 5x and 25x, times EPS.

Best for

Stable consumer businesses (food, beverage, retail, healthcare) with predictable, positive free cash flows.

Weighted Avg Cost of Capital

Risk-Free (Rf)

4.94%

Betasector default

0.817

ERP

4.20%

CRP

0.22%

Cost of Equity (Ke)

8.59%

E/(D+E)

57.56%

Kd(1-t)

3.66%

D/(D+E)

42.44%

WACC

8.00%

Growth Estimate

historical blend4.00%

Growth decays 10%/yr toward terminal

Model Inputs

Base FCF→8.21B

Projection years→10

Valuation

We compare the sector model's value with the last close. This market has no track record here yet, so the value is shown as the model gives it.

Last close (USD)→676.94

Intrinsic value vs last close→−30.2%

Intrinsic value = sector model's value (no adjustment)

Intrinsic value (USD)

472.34

What feeds each step— click a source to highlight it in the statements

Discount rate (WACC)8.00%

Growth rate4.00%growth method: historical blend

Base cash flow8.2Bone off strip ratio: 0

DCF Sensitivity

Values from the standalone DCF scenarios below. These scenarios leave out the other parts of a blended model and do not reproduce the headline value.

WACC \ Growth	1.0%	2.5%	4.0%	5.5%	7.0%
6.0%	1,024.18	1,040.80	1,057.43	1,089.61	1,155.52
7.0%	651.02	662.10	673.19	694.51	737.76
8.0%	464.44	472.75	481.07	496.96	528.89
9.0%	352.49	359.14	365.79	378.44	403.59
10.0%	277.86	283.40	288.95	299.42	320.07

Above market priceBelow market priceCurrent estimate

NYSE:TMO among Consumer

Every valued stock in the sector on this market, NYSE:TMO marked: model value vs close across, market value up, model reliability into the board

Each bead is one valued stock in the sector; the amber bead with its stem is NYSE:TMO. Drag to turn; open another stock from its bead.

Feeds valuation:Cost of capitalGrowthModel inputsFinal calculation

Line item	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Cash and cash equivalentsNet debt bridge	·	9,852	4,009	8,077	8,524	4,477	10,325	2,399	2,103	1,335	786	452	1,344	5,826	851	1,016	917	1,564	1,281	625	667
Short-term investmentsNet debt bridge	·	253	1,561	3	·	·	·	·	·	·	·	·	9	5	4	4	9	7	8	·	·
Inventories, Net	·	5,425	4,978	5,088	5,634	5,051	4,029	3,370	3,005	2,719	2,213	1,992	1,860	1,495	1,443	1,355	1,175	1,131	1,171	·	·
Fixed assets	·	10,565	9,306	9,448	9,280	8,333	5,912	4,749	4,165	4,047	2,578	2,449	2,427	1,767	1,726	1,656	1,409	1,333	1,275	·	·
TOTAL ASSETS	·	110,343	97,321	98,726	97,154	95,123	69,052	58,381	56,232	56,669	45,908	40,889	42,852	31,863	27,445	26,834	21,349	21,625	21,090	·	·
Short-term borrowingsDiscount rate (WACC) +1	·	3,533	2,214	3,609	5,579	2,537	2,628	676	1,271	2,135	1,256	1,053	2,212	988	93	1,273	106	118	15	·	·
Long-term borrowingsDiscount rate (WACC) +1	·	35,852	29,061	31,308	28,909	32,333	19,107	17,076	17,719	18,870	15,372	11,474	12,352	9,500	7,031	5,755	2,031	2,064	2,003	·	·
OWNER'S EQUITYDiscount rate (WACC)	·	53,415	49,551	46,724	44,032	40,855	34,517	29,684	27,594	25,413	21,539	21,350	20,548	16,856	15,465	15,038	15,361	15,431	14,927	14,464	·
MINORITY INTERESTSNet debt bridge	·	7	−33	−11	54	62	10	·	·	·	·	·	·	·	·	·	·	·	·	·	·

Earnings Quality

Fiscal year 2025

Good

Accrual QualityLow accruals vs reported earnings

100

Cash ConversionOperating cash flow vs net income

Margin StabilityConsistency of profit margins

100

Revenue QualityConsistency of revenue growth

Quantitative Scores

F-Score

5/9

Neutral

Sharpe

0.53

Positive

Composite

50 to 69

Piotroski F-Score Breakdown

✓Net Income > 0

✓Operating CF > 0

✗ROA Rising

✓OCF > Net Income

✓Lower Leverage

✗Better Liquidity

✓No Dilution

✗Margin Up

✗Turnover Up

Price Risk

Momentum

+17.1%

Volatility

27.9%

Max Drawdown

−31.5%

Key Ratios

Fiscal year 2025

38.52P/E

P/B: 4.83
P/S: 5.79
ROE: 12.6%
EPS: 17.77
BVPS: 141.68
Net Margin: 15.0%
D/E: 0.74
Rev Growth: +3.9%
EV/EBITDA: 32.66
Div Yield: —

Company Overview

Shares outstanding: 371M
Industry: Measuring & Controlling Devices, NEC

Computed 05/11/2026

Intrinsic value vs last close

Earnings-capitalised value

Also note

Valuation Breakdown

DCF Sensitivity

NYSE:TMO among Consumer

Financial Statements

Earnings Quality

Quantitative Scores

Key Ratios

Company Overview

NYSE:TMO among Consumer