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Thermo Fisher Scientific Inc. (TMO) EV/EBITDA Ratio: 19.72x

Is Thermo Fisher Scientific Inc.’s EV/EBITDA ratio high or low?

Thermo Fisher Scientific Inc.'s EV/EBITDA ratio of 19.72x is in line with its 5-year average of 20.32x, around the middle of its 5-year range (15.37x–24.30x).

The EV/EBITDA ratio for Thermo Fisher Scientific Inc. (TMO) is 19.72x as of Wednesday, June 10, 2026. It is below its 12-month average by 0.09% (19.74x).

TMO EV/EBITDA Ratio Chart

TMO EV/EBITDA Ratio
19.72x+22.03% 1Y
Zoom

TMO Average EV/EBITDA Ratio Chart

TMO Current vs Average EV/EBITDA Ratio Chart

TMO EV/EBITDA Ratio Metrics

EV/EBITDA RATIO

19.72x

EV/EBITDA RATIO AVG TTM

19.74x

EV/EBITDA RATIO AVG 3Y

20.47x

EV/EBITDA RATIO AVG 5Y

20.32x

EV/EBITDA RATIO AVG 10Y

20.35x

EV/EBITDA RATIO AVG 15Y

18.71x

EV/EBITDA RATIO AVG 20Y

17.78x

CURRENT VS TTM AVG

-0.09%

CURRENT VS 3Y AVG

-3.66%

CURRENT VS 5Y AVG

-2.93%

CURRENT VS 10Y AVG

-3.09%

CURRENT VS 15Y AVG

+5.38%

CURRENT VS 20Y AVG

+10.94%

TMO Competitors' EV/EBITDA Ratio

NAMEMARKET CAPEV/EBITDA RATIOTTM3Y5Y
Thermo Fisher Scientific Inc. (TMO)$179.45B19.72x19.74x20.47x20.32x
Amgen Inc. (AMGN)$183.75B13.28x13.25x14.20x13.96x
Abbott Laboratories (ABT)$154.66B16.88x18.72x19.30x18.58x
Gilead Sciences, Inc. (GILD)$151.21B12.54x14.17x17.98x15.97x
Intuitive Surgical, Inc. (ISRG)$146.44B39.06x52.49x59.81x55.90x
Pfizer Inc. (PFE)$146.36B12.38x10.50x15.94x13.74x
Danaher Corporation (DHR)$130.25B21.52x23.46x23.88x22.36x
CVS Health Corporation (CVS)$125.16B17.45x14.88x11.86x12.00x
Bristol-Myers Squibb Company (BMY)$114.14B10.82x9.64x16.60x15.48x
Vertex Pharmaceuticals Incorporated (VRTX)$110.77B20.92x22.99x82.30x54.94x

EV/EBITDA vs. its own history

At 19.7, EV/EBITDA is richer than usual — richer than 65% of its 20-year range.

20-year low

6.8

median

18.3

20-year high

48.5

cheaperricher

Understanding EV/EBITDA

Enterprise Value (EV) = Market Cap + Total Debt - Cash

EBITDA = Earnings Before Interest, Taxes, Depreciation & Amortization

EV/EBITDA is commonly used for comparing companies because:

  • It accounts for debt levels (capital structure neutral)
  • It removes effects of different depreciation policies
  • It can be compared across countries with different tax rates
  • It can remain available when net income is negative, if EBITDA is positive

Thermo Fisher Scientific Inc. EV/EBITDA Ratio Formula & Definition

EV/EBITDA = Enterprise Value / EBITDA (TTM)

Enterprise value to EBITDA is a capital-structure-neutral valuation multiple, useful for comparing companies with different debt levels and tax rates.

Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute

Thermo Fisher Scientific Inc. EV/EBITDA Ratio FAQ

What is the EV/EBITDA ratio for Thermo Fisher Scientific Inc. (TMO)?
The EV/EBITDA ratio for TMO stock is 19.72x.
Is Thermo Fisher Scientific Inc.'s EV/EBITDA ratio high or low?
Thermo Fisher Scientific Inc.'s EV/EBITDA ratio of 19.72x is in line with its 5-year average of 20.32x, around the middle of its 5-year range (15.37x–24.30x).
What is the TTM average EV/EBITDA ratio for Thermo Fisher Scientific Inc. (TMO)?
The TTM average EV/EBITDA ratio for TMO stock is 19.74x.
What is the 3Y average EV/EBITDA ratio for Thermo Fisher Scientific Inc. (TMO)?
The 3Y average EV/EBITDA ratio for TMO stock is 20.47x.
What is the 5Y average EV/EBITDA ratio for Thermo Fisher Scientific Inc. (TMO)?
The 5Y average EV/EBITDA ratio for TMO stock is 20.32x.
What is the 10Y average EV/EBITDA ratio for Thermo Fisher Scientific Inc. (TMO)?
The 10Y average EV/EBITDA ratio for TMO stock is 20.35x.
What is the 15Y average EV/EBITDA ratio for Thermo Fisher Scientific Inc. (TMO)?
The 15Y average EV/EBITDA ratio for TMO stock is 18.71x.
What is the 20Y average EV/EBITDA ratio for Thermo Fisher Scientific Inc. (TMO)?
The 20Y average EV/EBITDA ratio for TMO stock is 17.78x.

Thermo Fisher Scientific Inc. EV/EBITDA Ratio History

DATEEV/EBITDA RATIO
2026-06-1019.72x
2026-06-0920.09x
2026-06-0819.27x
2026-06-0519.38x
2026-06-0419.68x
2026-06-0319.41x
2026-06-0219.69x
2026-06-0120.09x
2026-05-2920.04x
2026-05-2819.86x
2026-05-2718.82x
2026-05-2618.55x
2026-05-2218.56x
2026-05-2118.59x
2026-05-2018.67x
2026-05-1918.54x
2026-05-1818.35x
2026-05-1518.22x
2026-05-1418.55x
2026-05-1318.48x
2026-05-1218.93x
2026-05-1118.70x
2026-05-0819.12x
2026-05-0719.43x
2026-05-0619.38x
2026-05-0519.17x
2026-05-0419.04x
2026-05-0119.26x
2026-04-3018.43x
2026-04-2918.01x
2026-04-2818.14x
2026-04-2718.07x
2026-04-2418.13x
2026-04-2318.03x
2026-04-2219.58x
2026-04-2119.93x
2026-04-2019.98x
2026-04-1720.00x
2026-04-1619.65x
2026-04-1520.16x
2026-04-1420.02x
2026-04-1319.59x
2026-04-1018.99x
2026-04-0919.14x
2026-04-0819.24x
2026-04-0718.78x
2026-04-0618.73x
2026-04-0218.84x
2026-04-0118.94x
2026-03-3118.84x
2026-03-3018.47x
2026-03-2718.25x
2026-03-2618.76x
2026-03-2518.82x
2026-03-2418.80x
2026-03-2318.40x
2026-03-2018.28x
2026-03-1918.14x
2026-03-1817.96x
2026-03-1718.23x
2026-03-1618.14x
2026-03-1317.95x
2026-03-1218.33x
2026-03-1118.98x
2026-03-1019.12x
2026-03-0919.45x
2026-03-0619.19x
2026-03-0519.74x
2026-03-0419.54x
2026-03-0319.39x
2026-03-0219.40x
2026-02-2719.82x
2026-02-2619.78x
2026-02-2520.11x
2026-02-2420.17x
2026-02-2320.20x
2026-02-2020.02x
2026-02-1920.16x
2026-02-1820.10x
2026-02-1719.71x
2026-02-1319.81x
2026-02-1219.98x
2026-02-1120.56x
2026-02-1020.98x
2026-02-0921.21x
2026-02-0621.08x
2026-02-0521.07x
2026-02-0421.83x
2026-02-0321.99x
2026-02-0222.38x
2026-01-3022.27x
2026-01-2922.73x
2026-01-2823.26x
2026-01-2723.79x
2026-01-2623.88x
2026-01-2323.85x
2026-01-2224.30x
2026-01-2124.20x
2026-01-2023.62x
2026-01-1623.61x
2026-01-1523.81x
2026-01-1423.72x
2026-01-1323.22x
2026-01-1223.50x
2026-01-0923.62x
2026-01-0823.20x
2026-01-0723.56x
2026-01-0623.68x
2026-01-0523.36x
2026-01-0222.74x
2025-12-3122.30x
2025-12-3022.44x
2025-12-2922.49x
2025-12-2622.35x
2025-12-2422.29x
2025-12-2322.32x
2025-12-2222.18x
2025-12-1921.91x
2025-12-1821.73x
2025-12-1721.74x
2025-12-1621.99x
2025-12-1522.18x
2025-12-1222.06x
2025-12-1122.28x
2025-12-1022.11x
2025-12-0921.76x
2025-12-0821.93x
2025-12-0522.08x
2025-12-0422.16x
2025-12-0322.34x
2025-12-0222.33x
2025-12-0122.49x
2025-11-2822.68x
2025-11-2622.76x
2025-11-2522.91x
2025-11-2422.52x
2025-11-2122.57x
2025-11-2022.08x
2025-11-1922.11x
2025-11-1822.19x
2025-11-1721.89x
2025-11-1422.28x
2025-11-1322.33x
2025-11-1222.59x
2025-11-1122.54x
2025-11-1022.20x
2025-11-0722.07x
2025-11-0621.85x
2025-11-0521.91x
2025-11-0421.83x
2025-11-0321.82x
2025-10-3121.90x
2025-10-3021.13x
2025-10-2921.20x
2025-10-2821.18x
2025-10-2721.38x
2025-10-2421.67x
2025-10-2321.65x
2025-10-2221.50x
2025-10-2121.19x
2025-10-2020.72x
2025-10-1720.56x
2025-10-1620.49x
2025-10-1520.19x
2025-10-1420.12x
2025-10-1320.08x
2025-10-1020.09x
2025-10-0920.42x
2025-10-0820.47x
2025-10-0720.57x
2025-10-0620.72x
2025-10-0320.70x
2025-10-0220.10x
2025-10-0120.29x
2025-09-3018.77x
2025-09-2918.01x
2025-09-2618.08x
2025-09-2517.92x
2025-09-2418.21x
2025-09-2318.26x
2025-09-2218.44x
2025-09-1918.59x
2025-09-1818.64x
2025-09-1718.36x
2025-09-1618.63x
2025-09-1518.42x
2025-09-1218.59x
2025-09-1118.98x
2025-09-1018.49x
2025-09-0918.68x
2025-09-0818.86x
2025-09-0519.02x
2025-09-0418.92x
2025-09-0318.76x
2025-09-0218.85x
2025-08-2919.03x
2025-08-2818.93x
2025-08-2718.87x
2025-08-2618.89x
2025-08-2518.96x
2025-08-2219.27x
2025-08-2118.73x
2025-08-2019.10x
2025-08-1919.21x
2025-08-1818.85x
2025-08-1518.90x
2025-08-1418.77x
2025-08-1318.76x
2025-08-1218.52x
2025-08-1118.02x
2025-08-0817.97x
2025-08-0717.77x
2025-08-0617.57x
2025-08-0518.15x
2025-08-0418.16x
2025-08-0118.04x
2025-07-3117.90x
2025-07-3018.22x
2025-07-2918.38x
2025-07-2818.47x
2025-07-2518.25x
2025-07-2418.14x
2025-07-2317.87x
2025-07-2216.59x
2025-07-2115.85x
2025-07-1816.17x
2025-07-1716.51x
2025-07-1616.22x
2025-07-1516.28x
2025-07-1416.52x
2025-07-1116.83x
2025-07-1016.69x
2025-07-0916.34x
2025-07-0816.54x
2025-07-0716.30x
2025-07-0316.65x
2025-07-0216.60x
2025-07-0116.39x
2025-06-3015.87x
2025-06-2715.96x
2025-06-2616.09x
2025-06-2516.04x
2025-06-2415.83x
2025-06-2315.70x
2025-06-2015.62x
2025-06-1815.44x
2025-06-1715.37x
2025-06-1615.85x
2025-06-1315.78x
2025-06-1216.19x
2025-06-1116.18x
2025-06-1016.16x
2025-06-0915.97x
2025-06-0615.75x
2025-06-0515.63x
2025-06-0415.81x
2025-06-0315.69x
2025-06-0215.57x
2025-05-3015.78x
2025-05-2915.81x

Showing the most recent 260 of 5,031 data points. The chart above shows the full history.

About Thermo Fisher Scientific Inc.

Thermo Fisher Scientific Inc. is a global leader in scientific services, providing a comprehensive range of offerings that include life sciences solutions, advanced analytical instruments, specialized diagnostic products, and an extensive portfolio of laboratory supplies and biopharmaceutical services. The company's reach extends across North America, Europe, Asia-Pacific, and other international markets. Its Life Sciences Solutions division furnishes researchers with essential reagents, state-of-the-art instruments, and consumables vital for biological and medical exploration, the development and manufacturing of therapeutics and vaccines, and the detection of infections and various diseases. This segment encompasses bioscience, genetic science, and bioproduction technologies, serving a broad spectrum of clients in the pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and governmental sectors. The Analytical Instruments segment delivers a variety of precision instruments, consumables, software, and support services to pharmaceutical, biotechnology, academic, governmental, environmental, and industrial research environments, as well as clinical laboratories. The Specialty Diagnostics segment offers an array of diagnostic tools, including liquid, ready-to-use, and lyophilized immunodiagnostic reagent kits, alongside calibrators, controls, protein detection assays, and accompanying instruments. This also features the creation and distribution of complete blood test systems to aid in the clinical diagnosis and monitoring of allergies, asthma, and autoimmune diseases. Furthermore, it provides dehydrated and prepared culture media, specimen collection and transport systems, related instrumentation and consumables, human leukocyte antigen (HLA) typing and testing crucial for the organ transplant sector, and other healthcare products. Lastly, the Laboratory Products and Biopharma Services segment supplies laboratory equipment, serves the research and safety markets through its channels, and offers extensive pharmaceutical services, encompassing clinical research support. The company's products and services are distributed through a dedicated direct sales team, customer service professionals, online commerce platforms, and a network of third-party distributors. Its recognized brands include Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon, and PPD. Thermo Fisher Scientific Inc. was established in 1956 and is headquartered in Waltham, Massachusetts.

Waltham, MA
125,000 employees
Healthcare / Medical - Diagnostics & Research
Sector
Healthcare
Industry
Medical - Diagnostics & Research
CEO
Marc N. Casper