Novo Nordisk A/S (NVO) vs Thermo Fisher Scientific Inc. (TMO)
A side-by-side comparison of Novo Nordisk A/S 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.
NVO
Novo Nordisk A/S
$42.53HealthcareDelayed quote: Sep 15, 2026, 4:00 PM EDT
TMO
Thermo Fisher Scientific Inc.
$641.39HealthcareDelayed quote: Sep 15, 2026, 4:00 PM EDT
Total return — NVO vs TMO
growth of $100 · dividends reinvested · last 10yNVO +135.8% (+9.0%/yr)TMO +317.8% (+15.4%/yr)TMO compounded faster over this window
NVO TMO
NVO vs TMO: by the numbers
- •TMO is the larger company ($238.35B vs $188.86B market cap).
- •NVO trades at the lower trailing earnings multiple (10.48 vs 34.50 P/E), one valuation lens rather than an overall verdict.
- •NVO converts more revenue to profit (35.33% vs 15.06% net margin).
- •NVO grew revenue faster over the past five years (19.76% vs 5.00% CAGR).
- •NVO pays the higher dividend yield (4.17% vs 0.30%).
Metrics side by side
Valuation
| Metric | NVO | TMO |
|---|---|---|
| P/E ratio | 10.48 | 34.50 |
| Forward P/E | N/A | 25.54 |
| P/S ratio | 3.70 | 5.14 |
| P/B ratio | 5.60 | 4.52 |
| EV / EBITDA | 7.76 | 26.37 |
| FCF yield | 3.94% | 3.07% |
Profitability
| Metric | NVO | TMO |
|---|---|---|
| Gross margin | 80.64% | 40.37% |
| Operating margin | 43.10% | 17.69% |
| Net margin | 35.33% | 15.06% |
| ROE | 53.50% | 13.25% |
| ROIC | 30.21% | 7.44% |
Dividends
| Metric | NVO | TMO |
|---|---|---|
| Dividend yield | 4.17% | 0.30% |
| Payout ratio | 44.27% | 9.68% |
Growth (annualized)
| Metric | NVO | TMO |
|---|---|---|
| Revenue CAGR (5Y) | 19.76% | 5.00% |
| EPS CAGR (5Y) | 19.59% | 1.99% |
| FCF CAGR (5Y) | -1.45% | -1.83% |
| Total return CAGR (5Y) | -0.65% | 1.57% |
Frequently asked
- Which has the lower trailing P/E, NVO or TMO?
- NVO has the lower trailing P/E: NVO trades at 10.48 and TMO at 34.50. P/E is one valuation measure and does not by itself establish which business is cheaper.
- Which has grown faster, NVO or TMO?
- Over the past five years, NVO grew revenue faster — NVO at a 19.76% CAGR versus TMO at 5.00%.
- Does NVO or TMO pay a bigger dividend?
- NVO yields 4.17% and TMO yields 0.30% based on trailing dividends and the latest price.
- Is NVO or TMO more profitable?
- NVO runs the higher net margin — NVO at 35.33% versus TMO at 15.06%.
- How have NVO and TMO total returns compared?
- Over the past 10 years, NVO delivered 9.46% and TMO delivered 15.88% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Novo Nordisk A/S P/E ratioThermo Fisher Scientific P/E ratioNovo Nordisk A/S dividend yieldThermo Fisher Scientific dividend yieldNovo Nordisk A/S ROEThermo Fisher Scientific ROENovo Nordisk A/S operating marginThermo Fisher Scientific operating marginNovo Nordisk A/S revenue growthThermo Fisher Scientific revenue growthNovo Nordisk A/S free cash flowThermo Fisher Scientific free cash flow
Novo Nordisk A/S & 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.