Novartis AG (NVS) vs Thermo Fisher Scientific Inc. (TMO)
A side-by-side comparison of Novartis AG and Thermo Fisher Scientific Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 2, 2026. Differences are shown without an overall score or investment verdict.
NVS
Novartis AG
$141.00HealthcareDelayed quote: Oct 2, 2026, 4:00 PM EDT
TMO
Thermo Fisher Scientific Inc.
$654.80HealthcareDelayed quote: Oct 2, 2026, 4:00 PM EDT
Total return — NVS vs TMO
growth of $100 · dividends reinvested · last 10yNVS +209.2% (+12.0%/yr)TMO +321.9% (+15.5%/yr)TMO compounded faster over this window
NVS TMO
NVS vs TMO: by the numbers
- •NVS is the larger company ($268.00B vs $242.11B market cap).
- •NVS trades at the lower trailing earnings multiple (21.27 vs 35.22 P/E), one valuation lens rather than an overall verdict.
- •NVS converts more revenue to profit (22.93% vs 15.06% net margin).
- •TMO grew revenue faster over the past five years (5.00% vs 1.53% CAGR).
- •NVS pays the higher dividend yield (3.38% vs 0.28%).
Metrics side by side
Valuation
| Metric | NVS | TMO |
|---|---|---|
| P/E ratio | 21.27 | 35.22 |
| Forward P/E | 16.02 | 26.08 |
| PEG ratio | 1.38 | 16.69 |
| P/S ratio | 4.82 | 5.23 |
| P/B ratio | 6.45 | 4.60 |
| EV / EBITDA | 13.85 | 26.39 |
| FCF yield | 5.90% | 3.02% |
Profitability
| Metric | NVS | TMO |
|---|---|---|
| Gross margin | 74.44% | 41.03% |
| Operating margin | 30.54% | 17.97% |
| Net margin | 22.93% | 15.06% |
| ROE | 30.71% | 13.25% |
| ROIC | 13.93% | 7.56% |
Dividends
| Metric | NVS | TMO |
|---|---|---|
| Dividend yield | 3.38% | 0.28% |
| Payout ratio | 71.50% | 9.68% |
Growth (annualized)
| Metric | NVS | TMO |
|---|---|---|
| Revenue CAGR (5Y) | 1.53% | 5.00% |
| EPS CAGR (5Y) | 15.42% | 1.99% |
| FCF CAGR (5Y) | 8.92% | -1.83% |
| Total return CAGR (5Y) | 16.96% | 2.94% |
Frequently asked
- Which has the lower trailing P/E, NVS or TMO?
- NVS has the lower trailing P/E: NVS trades at 21.27 and TMO at 35.22. P/E is one valuation measure and does not by itself establish which business is cheaper.
- Which has grown faster, NVS or TMO?
- Over the past five years, TMO grew revenue faster — NVS at a 1.53% CAGR versus TMO at 5.00%.
- Does NVS or TMO pay a bigger dividend?
- NVS yields 3.38% and TMO yields 0.28% based on trailing dividends and the latest price.
- Is NVS or TMO more profitable?
- NVS runs the higher net margin — NVS at 22.93% versus TMO at 15.06%.
- How have NVS and TMO total returns compared?
- Over the past 10 years, NVS delivered 11.99% and TMO delivered 15.48% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Novartis AG P/E ratioThermo Fisher Scientific P/E ratioNovartis AG dividend yieldThermo Fisher Scientific dividend yieldNovartis AG ROEThermo Fisher Scientific ROENovartis AG operating marginThermo Fisher Scientific operating marginNovartis AG revenue growthThermo Fisher Scientific revenue growthNovartis AG free cash flowThermo Fisher Scientific free cash flow
Novartis AG & 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 October 2, 2026.