Elevance Health Inc. (ELV) vs Thermo Fisher Scientific Inc. (TMO)
A side-by-side comparison of Elevance Health Inc. and Thermo Fisher Scientific Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 13, 2026. Differences are shown without an overall score or investment verdict.
ELV
Elevance Health Inc.
$418.64HealthcareDelayed quote: Sep 15, 2026, 3:35 PM EDT
TMO
Thermo Fisher Scientific Inc.
$638.20HealthcareDelayed quote: Sep 15, 2026, 3:35 PM EDT
Total return — ELV vs TMO
growth of $100 · dividends reinvested · last 10yELV +286.4% (+14.5%/yr)TMO +315.6% (+15.3%/yr)TMO compounded faster over this window
ELV TMO
ELV vs TMO: by the numbers
- •TMO is the larger company ($237.17B vs $90.79B market cap).
- •ELV trades at the lower trailing earnings multiple (18.61 vs 34.33 P/E), one valuation lens rather than an overall verdict.
- •TMO converts more revenue to profit (15.06% vs 2.47% net margin).
- •ELV grew revenue faster over the past five years (9.25% vs 5.00% CAGR).
- •ELV pays the higher dividend yield (1.64% vs 0.30%).
Metrics side by side
Valuation
| Metric | ELV | TMO |
|---|---|---|
| P/E ratio | 18.61 | 34.33 |
| Forward P/E | 15.42 | 25.42 |
| P/S ratio | 0.45 | 5.12 |
| P/B ratio | 2.02 | 4.50 |
| EV / EBITDA | 13.82 | 26.25 |
| FCF yield | 6.93% | 3.09% |
Profitability
| Metric | ELV | TMO |
|---|---|---|
| Gross margin | 25.56% | 40.37% |
| Operating margin | 3.51% | 17.69% |
| Net margin | 2.47% | 15.06% |
| ROE | 11.06% | 13.25% |
| ROIC | 6.34% | 7.44% |
Dividends
| Metric | ELV | TMO |
|---|---|---|
| Dividend yield | 1.64% | 0.30% |
| Payout ratio | 30.49% | 9.68% |
Growth (annualized)
| Metric | ELV | TMO |
|---|---|---|
| Revenue CAGR (5Y) | 9.25% | 5.00% |
| EPS CAGR (5Y) | 6.67% | 1.99% |
| FCF CAGR (5Y) | -19.97% | -1.83% |
| Total return CAGR (5Y) | 4.73% | 1.57% |
Frequently asked
- Which has the lower trailing P/E, ELV or TMO?
- ELV has the lower trailing P/E: ELV trades at 18.61 and TMO at 34.33. P/E is one valuation measure and does not by itself establish which business is cheaper.
- Which has grown faster, ELV or TMO?
- Over the past five years, ELV grew revenue faster — ELV at a 9.25% CAGR versus TMO at 5.00%.
- Does ELV or TMO pay a bigger dividend?
- ELV yields 1.64% and TMO yields 0.30% based on trailing dividends and the latest price.
- Is ELV or TMO more profitable?
- TMO runs the higher net margin — ELV at 2.47% versus TMO at 15.06%.
- How have ELV and TMO total returns compared?
- Over the past 10 years, ELV delivered 14.24% and TMO delivered 15.88% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Elevance Health P/E ratioThermo Fisher Scientific P/E ratioElevance Health dividend yieldThermo Fisher Scientific dividend yieldElevance Health ROEThermo Fisher Scientific ROEElevance Health operating marginThermo Fisher Scientific operating marginElevance Health revenue growthThermo Fisher Scientific revenue growthElevance Health free cash flowThermo Fisher Scientific free cash flow
Elevance Health & Thermo Fisher Scientific appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 13, 2026.