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The Market Is Selling Everything, but These 5 Stocks Aren't Breaking DownThermo Fisher Scientific NYSE: TMO reported stronger-than-expected second-quarter 2026 results and raised its full-year outlook, citing improving customer activity across end markets, broad-based growth and contributions from recent acquisitions.

Chairman and Chief Executive Officer Marc Casper said the company delivered an “outstanding quarter,” with revenue rising 10% to $11.99 billion. Adjusted operating income increased 15% to $2.73 billion, while adjusted operating margin expanded 90 basis points to 22.8%. Adjusted earnings per share grew 13% to $6.03.

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The Often-Missed Corner of Healthcare That Wall Street Is LovingChief Financial Officer Jim Meyer said the results were meaningfully ahead of the company’s prior assumptions. Revenue was about $300 million above previous guidance, helped by stronger organic growth, acquisitions and foreign exchange. Adjusted EPS was $0.30 ahead of prior guidance, which Meyer attributed to revenue pull-through, cost productivity and acquisition performance, including Clario.

Customer Activity Strengthens Across End Markets Thermo Fisher reported 5% organic revenue growth in the quarter. Casper said customer activity continued to improve across the company’s end markets, with particular strength in pharma and biotech, the company’s largest end market.

Sector Rotation: 2 Smart Money Moves for 2026In pharma and biotech, revenue grew in the mid-single digits, led by bioproduction, clinical research and the research and safety market channel. Casper said biotech spending improved and began translating into revenue after earlier signs of increased activity.

Academic and government revenue grew in the low single digits, driven by chromatography and mass spectrometry. Casper said the market is stabilizing, with strong adoption of new instruments globally and U.S. academic and government revenue returning to growth, though he cautioned that the company is not yet calling it a sustained new trend.

Industrial and applied revenue grew in the mid-single digits, led by electron microscopy, chemical analysis and the research and safety market channel. Diagnostics and healthcare also grew in the mid-single digits, driven by the healthcare market channel and immunodiagnostics.

Segment Results Show Broad Growth Meyer said all four business segments contributed to the quarter’s performance. In Life Sciences Solutions, reported revenue increased 13%, while organic revenue grew 3%. Growth was led by bioproduction, which Meyer said had another quarter of excellent organic growth. Adjusted operating margin in the segment rose 20 basis points to 37.0%.

Analytical Instruments posted 7% growth on both a reported and organic basis. Meyer said all three businesses in the segment grew, led by electron microscopy. Adjusted operating income increased 30%, and adjusted operating margin expanded 420 basis points to 23.0%.

Specialty Diagnostics revenue increased 6% on a reported basis and 5% organically. Growth was led by the healthcare market channel, immunodiagnostics and transplant diagnostics. Adjusted operating margin rose 70 basis points to 27.7%.

Laboratory Products and Biopharma Services reported 12% revenue growth and 5% organic revenue growth. The research and safety market channel and clinical research business led growth. Adjusted operating margin increased 20 basis points to 14.0%.

Innovation and Acquisitions Remain Key Priorities Casper highlighted several product launches during the quarter, including next-generation Orbitrap platforms and AI-driven capabilities introduced at the American Society for Mass Spectrometry conference. He pointed to the Thermo Scientific Orbitrap Tribrid Apex Mass Spectrometer and Orbitrap Excedion Mass Spectrometer as tools designed to support research and drug development applications.

The company also launched the Thermo Scientific Vanquish Amplify UHPLC system and the Applied Biosystems PowerFlex Thermal Cycler. Casper said customer adoption of recent innovations has been strong, particularly in analytical instruments.

Thermo Fisher also discussed progress integrating recent acquisitions. Casper said the Clario acquisition, completed in late March, delivered a strong second quarter, with integration progressing smoothly and revenue synergy opportunities building. He said the filtration and separation business also continues to perform well, with positive customer feedback and strong demand.

The company also expects to close the divestiture of its microbiology business in the third quarter. Meyer said the transaction is expected to reduce 2026 revenue by about $200 million, net of the retained channel business, and reduce 2026 adjusted EPS by $0.05. Thermo Fisher used anticipated net proceeds from the transaction to repurchase $1 billion of shares in the second quarter.

Full-Year Guidance Raised Thermo Fisher raised its 2026 revenue guidance to a range of $47.4 billion to $48.1 billion, representing 6% to 8% reported revenue growth over 2025. The company now expects full-year organic revenue growth of about 4%, at the upper end of its 3% to 4% guidance range.

The company also increased adjusted EPS guidance to a range of $24.93 to $25.33, representing 9% to 11% growth over 2025 and a $0.25 increase at the midpoint from prior guidance.

Meyer said the revised EPS midpoint reflects $0.30 from second-quarter outperformance and $0.05 from a higher second-half revenue outlook, partially offset by a $0.05 impact from the microbiology divestiture and a $0.05 foreign exchange headwind in the second half.

Thermo Fisher now expects acquisitions to contribute $1.6 billion of revenue and $0.32 of adjusted EPS for the year. The company continues to expect free cash flow of $6.9 billion to $7.4 billion and net capital expenditures of $1.9 billion to $2.1 billion.

Management Cites Pharma, Biotech and China Improvement During the question-and-answer session, Casper said the improved second-half outlook is primarily driven by pharma and biotech. He said clinical research had an excellent quarter, with strong organic revenue growth and authorizations, while pharma services delivered modest growth in line with expectations and is expected to strengthen in the second half based on production schedules and customer campaigns.

Casper also said China, which represents about 7.5% of company revenue, returned to low-single-digit growth. He said growth there was driven by pharma and biotech as well as industrial and applied markets, while academic and government demand in China remained muted.

On bioproduction, Casper said Thermo Fisher’s position across upstream and downstream workflows supported the strong quarter. He noted leadership in cell culture media and single-use technologies, a growing purification position and added filtration capabilities from the Solventum filtration and separation acquisition.

Casper closed the call by saying Thermo Fisher is “on track to deliver a strong year” as it continues to execute its growth strategy and manage the business through innovation, acquisitions and capital returns.

About Thermo Fisher Scientific (NYSE:TMO)Thermo Fisher Scientific NYSE: TMO is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Thermo Fisher Scientific Inc. (TMO) Q2 2026 Earnings Call July 23, 2026 8:30 AM EDT

Company Participants

Rafael Tejada - Vice President of Investor Relations
Marc Casper - Chairman & CEO
James Meyer - Senior VP & CFO

Conference Call Participants

Michael Ryskin - BofA Securities, Research Division
Tycho Peterson - Jefferies LLC, Research Division
Jack Meehan
Matthew Larew - William Blair & Company L.L.C., Research Division
Daniel Arias - Stifel, Nicolaus & Company, Incorporated, Research Division
Daniel Brennan - TD Cowen, Research Division
Patrick Donnelly - Citigroup Inc. Exchange Research
Luke Sergott - Barclays Bank PLC, Research Division

Presentation

Operator

Good morning, ladies and gentlemen, and welcome to the Thermo Fisher Scientific 2026 Second Quarter Conference Call. [Operator Instructions] I would like to introduce our moderator for the call, Mr. Rafael Tejada, Vice President, Investor Relations.

Mr. Tejada, you may begin the call.

Rafael Tejada
Vice President of Investor Relations

Good morning, and thank you for joining us. On the call with me today is Marc Casper, our Chairman and Chief Executive Officer; and Jim Meyer, Senior Vice President and Chief Financial Officer. Please note this call is being webcast live and will be archived on the Investors section of our website, thermofisher.com, under the heading News, Events and Presentations until October 20, 2026. A copy of the press release of our second quarter earnings is available in the Investors section of our website under the heading Financials. So before we begin, let me briefly cover our safe harbor statement.

Various remarks that we may make about the company's future expectations, plans and prospects constitute forward-looking statements within the meaning of applicable securities laws. Actual results may differ materially from those indicated by these forward-looking statements as a result of various risks and uncertainties, including those discussed in the company's most recent reports on Form 10-K and Form 10-Q

Thermo Fisher Scientific (TMO - Free Report) reported $11.99 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 10.5%. EPS of $6.03 for the same period compares to $5.36 a year ago.

The reported revenue represents a surprise of +2.67% over the Zacks Consensus Estimate of $11.68 billion. With the consensus EPS estimate being $5.71, the EPS surprise was +5.6%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Thermo Fisher performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Revenue Growth - Organic: 5% compared to the 3% average estimate based on five analysts.Revenues- Laboratory Products and Biopharma Services: $6.69 billion versus the four-analyst average estimate of $6.46 billion. The reported number represents a year-over-year change of +11.6%.Revenues- Specialty Diagnostics: $1.21 billion compared to the $1.17 billion average estimate based on four analysts. The reported number represents a change of +6.3% year over year.Revenues- Life Sciences Solutions: $2.82 billion versus $2.74 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +12.7% change.Revenues- Eliminations: $-565 million compared to the $-522.03 million average estimate based on four analysts. The reported number represents a change of +12.8% year over year.Revenues- Analytical Instruments: $1.85 billion compared to the $1.81 billion average estimate based on four analysts. The reported number represents a change of +6.9% year over year.View all Key Company Metrics for Thermo Fisher here>>>

Shares of Thermo Fisher have returned +7% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Thermo Fisher Scientific (TMO - Free Report) came out with quarterly earnings of $6.03 per share, beating the Zacks Consensus Estimate of $5.71 per share. This compares to earnings of $5.36 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +5.60%. A quarter ago, it was expected that this maker of scientific instrument and laboratory supplies would post earnings of $5.2 per share when it actually produced earnings of $5.44, delivering a surprise of +4.62%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Thermo Fisher, which belongs to the Zacks Medical - Instruments industry, posted revenues of $11.99 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.67%. This compares to year-ago revenues of $10.86 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Thermo Fisher shares have lost about 9.1% since the beginning of the year versus the S&P 500's gain of 9.6%.

What's Next for Thermo Fisher?While Thermo Fisher has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Thermo Fisher was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $6.36 on $11.95 billion in revenues for the coming quarter and $24.84 on $47.73 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Instruments is currently in the bottom 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

DarioHealth Corp. (DRIO - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026.

This company is expected to post quarterly loss of $0.74 per share in its upcoming report, which represents a year-over-year change of +69.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

DarioHealth Corp.'s revenues are expected to be $6.19 million, up 15.3% from the year-ago quarter.

A sign marks the offices of Thermo Fisher Scientific offices in Waltham, Massachusetts, U.S., August 2, 2023. REUTERS/Brian Snyder/File Photo Purchase Licensing Rights, opens new tab

CompaniesJuly 23 (Reuters) - Thermo Fisher Scientific (TMO.N), opens new tab beat Wall Street estimates for second-quarter ​profit and revenue on Thursday, as improving customer demand lifted ‌sales across all its business segments.

Shares of the Waltham, Massachusetts-based company were up more than 5% in premarket trading.

Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter. Sign up here.

The life sciences tools market has ​shown signs of improvement as biotech and pharmaceutical companies ​increase spending on research and manufacturing after a prolonged ⁠post-pandemic slowdown. Thermo Fisher said customer activity across its markets ​continued to strengthen.

"Our end markets continue to strengthen and we're making ​great progress enhancing our capabilities,” CEO Marc Casper said.

Thermo Fisher’s laboratory products and biopharma services segment, which supports clinical trials and drug manufacturing, posted a ​near 12% rise in revenue to $6.69 billion.

The life-sciences solutions segment, ​which supplies products used in biological research and drug production, recorded an increase ‌of ⁠about 13% in revenue to $2.82 billion.

The company's quarterly revenue grew 10% to $11.99 billion, above analysts' estimate of $11.70 billion, according to data compiled by LSEG.

Peer Danaher (DHR.N), opens new tab also beat quarterly profit estimates and raised ​its annual profit ​outlook. However, it ⁠cut its full-year core revenue growth outlook earlier this week due to weaker respiratory testing revenue, ​and also reported lower-than-expected revenue in its biotechnology business.

The ​results ⁠should reassure investors that end markets for life-sciences tools are turning and that Danaher's bioprocessing order delay was "company-specific" and "not reflective of the industry," ⁠Evercore ISI ​analyst Vijay Kumar said.

Thermo Fisher posted ​second-quarter adjusted earnings of $6.03 per share, above analysts' average estimate of $5.71 per share.

Reporting by ​Kunal Das and Puyaan Singh in Bengaluru; Editing by Tasim Zahid

Our Standards: The Thomson Reuters Trust Principles., opens new tab

ImmuPharma PLC (AIM:IMM, FRA:25I), the drug discovery company, has appointed Thermo Fisher Scientific to develop and manufacture the finished form of its experimental diabetes treatment Kapiglucagon.

The US group was chosen after a competitive tender, with its Patheon pharma services arm taking on the drug product workstream.

The appointment follows the recent selection of Swiss group Bachem to manufacture the active ingredient, completing the main manufacturing partnerships for the programme.

Kapiglucagon is a prodrug version of glucagon, a hormone that raises blood sugar, designed for use in Type 1 diabetes.

A prodrug is an inactive compound that converts into the active medicine inside the body, an approach used here to get around glucagon's tendency to be poorly soluble and unstable once mixed into a formulation.

ImmuPharma is targeting dual-hormone artificial pancreas systems, devices that deliver both insulin to lower blood sugar and glucagon to raise it, mimicking the function of a healthy pancreas.

The company is evaluating a 505(b)(2) route in the United States, a regulatory pathway that allows developers to lean on existing safety data for an approved drug rather than repeating the full testing programme.

That approach relies on published data for native glucagon and remains subject to confirmation by the Food and Drug Administration.

Sébastien Goudreau, chief scientific officer, said the appointment strengthened the manufacturing and quality foundation of the programme as it moves towards clinical development.

Jennifer Cannon, president of commercial biopharma services at Thermo Fisher, said her team would support ImmuPharma through key development milestones.

The next stage involves preparing an investigational new drug application, the submission required before human testing can begin in the United States.

ImmuPharma has described Kapiglucagon as a strategic opportunity alongside P140, its lead candidate for the autoimmune disease lupus.

The programme is backed by a funding package approved recently and intended to advance the asset over the next two years.

Analysts on Wall Street project that Thermo Fisher Scientific (TMO - Free Report) will announce quarterly earnings of $5.71 per share in its forthcoming report, representing an increase of 6.5% year over year. Revenues are projected to reach $11.68 billion, increasing 7.6% from the same quarter last year.

Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.

With that in mind, let's delve into the average projections of some Thermo Fisher metrics that are commonly tracked and projected by analysts on Wall Street.

The consensus estimate for 'Revenues- Laboratory Products and Biopharma Services' stands at $6.46 billion. The estimate indicates a change of +7.7% from the prior-year quarter.

Analysts' assessment points toward 'Revenues- Specialty Diagnostics' reaching $1.17 billion. The estimate suggests a change of +2.8% year over year.

According to the collective judgment of analysts, 'Revenues- Life Sciences Solutions' should come in at $2.74 billion. The estimate indicates a year-over-year change of +9.6%.

The consensus among analysts is that 'Revenues- Analytical Instruments' will reach $1.81 billion. The estimate indicates a year-over-year change of +4.7%.

View all Key Company Metrics for Thermo Fisher here>>>

Shares of Thermo Fisher have experienced a change of +14.6% in the past month compared to the +0.6% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), TMO is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Key Takeaways Thermo Fisher is expected to report Q2 revenues of $11.68B and EPS of $5.71 on July 23.TMO's Life Sciences Solutions growth may be led by bioproduction demand, launches and integration efforts.Thermo Fisher's Analytical Instruments and Biopharma units may benefit from innovations and collaborations. Thermo Fisher Scientific (TMO - Free Report) is set to release second-quarter 2026 results on July 23, before the market opens.

In the last reported quarter, the company posted adjusted earnings per share (EPS) of $5.44, which surpassed the Zacks Consensus Estimate by 4.62%. The company’s earnings topped estimates in each of the trailing four quarters, the average surprise being 3.69%.

Q2 Estimates for TMOThe Zacks Consensus Estimate for revenues is pegged at $11.68 billion, indicating an increase of 7.6% from the year-ago reported figure.

The consensus mark for the company’s EPS implies a 6.5% year-over-year rise to $5.71. The estimate has dropped 1 cent in the past 30 days.

Factors Likely to Influence TMO’s Q2 ResultsLife Sciences SolutionsThe segment’s performance is expected to have benefited from continued strength in the Bioproduction business, driven by healthy demand from the pharma and biotech customers. Thermo Fisher further enhanced its Bioproduction offerings through the acquisition of Solventum’s Filtration and Separation business, adding advanced filtration technologies and industrial filtration and membrane solutions. Integration of this business is likely to have continued during the quarter.

A steady cadence of product launches is also expected to have supported the Life Sciences Solutions segment. Among its newer innovations, Thermo Fisher introduced the Gibco CTS Compleo Fill and Finish System to help address manual fill and finish challenges in cell therapy manufacturing. The company also launched an integrated platform to advance scalable cell therapy manufacturing and introduced the Gibco CHOvantage GS Cell Line Development (“CLD”) Kit to help biologics developers accelerate time to clinic while maintaining regulatory confidence and commercial scalability.

Thermo Fisher’s new Applied Biosystems PowerFlex Thermal Cycler is designed to help deliver enhanced flexibility, precise thermal performance and improved productivity for modern molecular biology laboratories. We expect all these developments to have positively boosted revenues in the second quarter of 2026.

Per the Zacks Consensus Estimate, the Life Sciences Solutions revenues are expected to increase 9.6% year over year.

Analytical InstrumentsThe segment is likely to have continued to witness soft demand for instruments from academic and government customers in the United States and China. Tariffs and lower volumes may have also weighed on profitability. Despite this, Thermo Fisher’s strength in innovations may have remained a bright spot. The company introduced the Glacios 3 Cryo-TEM, a next-generation cryo-transmission electron microscope that features AI-enabled workflows.

At ASMS 2026, Thermo Fisher unveiled the Orbitrap Tribrid Apex and Orbitrap Excedion mass spectrometry platforms, designed to help researchers and drug developers generate high-quality data more efficiently across complex applications, including proteomics, multiomics, biologics and genetic medicines.

Thermo Fisher's collaboration with NVIDIA is expected to have made further progress toward commercializing AI-enabled scientific workflow solutions. We expect these developments to have favorably boosted the company’s top line in the second quarter of 2026.

Per the Zacks Consensus Estimates, revenues in this segment are projected to increase 4.7% year over year.

Specialty DiagnosticsSimilar to the previous quarter, the segment’s growth may have been driven by the transplant diagnostics business. The healthcare market channel is likely to have contributed to the second-quarter revenues.

Recent product innovations are also expected to have supported the segment's performance. These include the Thermo Scientific Brilliance Candida 2 Agar and Spectra Candida Agar, new color-based (chromogenic) culture media to help quickly detect and differentiate clinically important Candida species, and a new laboratory-developed test to help transplant patients receive the right dose of critical anti-rejection medication faster.

Thermo Fisher marked a notable development in April 2026, entering into an agreement to sell its microbiology business to Astorg for approximately $1.075 billion. The closing of the transaction is expected in the second half of this year, subject to customary closing conditions and applicable regulatory approvals.

The Zacks Consensus Estimate anticipates Specialty Diagnostics revenues to grow 2.8% year over year.

Laboratory Products and Biopharma ServicesIn the second quarter of 2026, the segment is likely to have delivered solid performance due to its clinical research business and the research and safety market channel. During the quarter, Thermo Fisher’s PPD clinical research business expanded its global bioanalytical capabilities by opening a new bioanalytical and biomarker laboratory in Gothenburg, Sweden. 

Thermo Fisher completed the acquisition of Clario in late March, adding digital endpoint data solutions that are highly complementary to its clinical research capabilities. Integration of this acquired business may have continued to progress in the second quarter.

Thermo Fisher also announced a strategic collaboration with SHL Medical, a leading provider of advanced drug delivery systems, alongside an expansion of sterile fill-finish and autoinjector final assembly capacity at its Ridgefield, NJ site. The facility was acquired from Sanofi in September 2025 as part of the company’s strategy to strengthen its U.S. manufacturing footprint.

Collectively, these developments are expected to have supported the segment's second-quarter revenues.

The Zacks Consensus Estimate expects revenues in this segment to increase 7.7% year over year.

What Our Model Unveils for TMOPer our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), along with a positive Earnings ESP, has a higher chance of beating estimates, which is not the case here, as you can see below.

Earnings ESP: Thermo Fisher has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: The company currently carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks Rank #1 stocks here.

MedTech PicksHere are some medical stocks worth considering, as these have the right combination of elements to post an earnings beat this time:

Cardinal Health (CAH - Free Report) has an Earnings ESP of +1.24% and a Zacks Rank #2. The company is slated to release fourth-quarter fiscal 2026 results on Aug. 11.

CAH’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 10.27%. The Zacks Consensus Estimate expects the company’s fourth-quarter EPS to increase 9.1% from the year-ago quarter’s figure.

Henry Schein (HSIC - Free Report) has an Earnings ESP of +0.41% and a Zacks Rank #2. The company is expected to release second-quarter 2026 results soon.

HSIC’s earnings surpassed estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 3.74%. The Zacks Consensus Estimate for the company’s second-quarter EPS calls for a rise of 10.9% from the year-ago quarter’s figure.

Alcon (ALC - Free Report) has an Earnings ESP of +3.13% and a Zacks Rank #2. The company is slated to release second-quarter 2026 results on Aug. 10.

ALC’s earnings beat estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 3.66%. The Zacks Consensus Estimate anticipates the company’s second-quarter EPS to increase 1.3% from the year-ago quarter’s figure.

WALTHAM, Mass.--(BUSINESS WIRE)--Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today announced that its Board of Directors authorized a quarterly cash dividend of $0.47 per common share, payable on October 15, 2026, to shareholders of record as of September 15, 2026. About Thermo Fisher Scientific Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue over $45 billion. Our Mission is to enable our customers to make the world h.

SAN FRANCISCO--(BUSINESS WIRE)--Thermo Fisher Scientific, the world leader in serving science, today announced that the Applied Biosystems™ RapidINTEL™ Plus Cartridge has received approval from the Federal Bureau of Investigation (FBI) National DNA Index System (NDIS) for use with qualifying forensic crime scene samples. The law enforcement milestone makes Thermo Fisher's Rapid DNA workflow on the RapidHIT ID™ System the first eligible to generate DNA profiles that can be searched against the n.

WALTHAM, Mass.--(BUSINESS WIRE)--Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, announced that it will release its financial results for the second quarter 2026 before the market opens on Thursday, July 23, 2026, and will hold a conference call on the same day at 8:30 a.m. ET. During the call, the company will discuss its financial performance, as well as future expectations.

The call will be webcast live on the “Investors” section of our website, www.thermofisher.com. You can access the conference call by dialing (833) 461-5787 within the U.S. or +1 (585) 542-9983 outside the U.S. The access code is 835035800.

The earnings press release and related information can also be found in that section of our website, under the heading “Financials”. A replay of the call will be available under “News, Events & Presentations” through Wednesday, October 21, 2026.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue over $45 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Gibco, Fisher Scientific, Unity Lab Services, Patheon and PPD. For more information, please visit www.thermofisher.com.

More News From Thermo Fisher Scientific Inc.

WALTHAM, Mass.--(BUSINESS WIRE)--Thermo Fisher Scientific, the world leader in serving science, will showcase new capabilities, strategic investments and initiatives at BIO International 2026 that are helping pharma and biotech customers advance innovation, simplify complex workflows and bring therapies to patients faster.

Spanning AI-enabled research, clinical development and advanced manufacturing, these investments reinforce Thermo Fisher’s role as a trusted strategic provider of integrated solutions, helping customers simplify drug development from discovery through commercialization.

As demand grows for advanced therapies and pressure increases to reduce development timelines, biopharma companies are increasingly seeking connected, data-driven approaches to research, clinical development and manufacturing. Thermo Fisher is helping customers harness AI, scientific data and integrated development capabilities to improve productivity, enhance decision-making and reduce complexity across the drug development lifecycle.

“AI, connected scientific data and advanced manufacturing are reshaping how therapies are discovered, developed and delivered,” said Mike Shafer, Executive Vice President and President, Biopharma Services, Thermo Fisher Scientific. “With our Accelerator™ Drug Development collaborations and integrated development ecosystem, Thermo Fisher is well-positioned to help customers translate breakthrough science into clinical and commercial success with greater confidence.”

Recent investments and innovations highlighted at BIO International 2026 include:

Pharma Services and Advanced Manufacturing

Expanded global sterile fill-finish and device assembly capacity to support prefilled syringes, vials, cartridges and autoinjectors, including an expanded collaboration with SHL Medical to offer fully integrated device assembly services at Thermo Fisher’s Ridgefield, New Jersey site. Expanding oral solid dose (OSD) manufacturing capabilities with advanced tableting technologies, additional laboratory capacity and new packaging and serialization capabilities across global sites. Added significant additional biologics drug substance capacity across facilities in the U.S. and Switzerland, supporting increasing demand for biologic therapies. Launching new GMP monoclonal antibody manufacturing capabilities in Plainville, Mass., in the second half of 2026, supporting large-scale production of mAb therapies across multiple indications. Expanded our global Bioprocess Design Center (BDC) network with new BDC facilities in the U.S. and India, complementing existing centers in China, Korea and Singapore. The centers provide customers with local expertise, advanced bioprocessing technologies, technical consulting and collaborative laboratory environments to streamline process development, improve manufacturing readiness and support successful scale-up. Clinical Research and Data Intelligence

Expanded digital clinical research capabilities through the acquisition of Clario Holdings Inc., adding industry-leading endpoint data and evidence generation solutions that have supported approximately 70% of FDA and EMA novel drug approvals over the past decade, together with HealthVerity and Datavant to advance real-world evidence and trial optimization. Expanded AI-enabled analytics and workflow solutions designed to help customers improve clinical trial efficiency, streamline interpretation of complex scientific and clinical data, and support more informed development decisions. AI-Enabled Research and Scientific Workflows

Expanded AI-enabled scientific workflows through strategic relationships with NVIDIA, OpenAI, TetraScience and BenchSci, helping customers improve experimental design, automate laboratory workflows and generate deeper insights from complex scientific data.

Through Accelerator™ Drug Development, Thermo Fisher is helping emerging biotech companies combine scientific expertise, AI-enabled workflows, laboratory technologies and development capabilities to support a more efficient transition from discovery through clinical development. Recent software acquisitions, MSAID and Proteinaceous, strengthen Thermo Fisher’s proteomics ecosystem by adding AI, machine learning and proteoform analysis capabilities that help scientists interpret complex population-scale datasets faster and with greater confidence. Advanced connected laboratory capabilities designed to help customers unify scientific data across instruments, applications and research environments, enabling more scalable, automated and data-driven R&D operations. Scientific Innovation and Enabling Technologies

Introduced new molecular and cell therapy workflow innovations, including the Applied Biosystems™ PowerFlex™ Thermal Cycler and the Gibco™ CTS™ Compleo™ Fill and Finish System, designed to help customers advance discovery through clinical translation. Unveiled the Gibco™ CTS™ DynaXS™ Single Use Bioreactor, an integrated platform to enable scalable cell therapy manufacturing with precise control, flexibility and regulatory readiness. Launched Gibco™ CHOvantage™ GS Cell Line Development Kit enabling researchers to generate high-performing CHO lines that enable high productivity, streamlined timelines and royalty-free, clinical-stage licensing options to support scalable manufacturing. Attendees can meet with Thermo Fisher experts at Booth 5125 to explore solutions spanning AI-enabled research, clinical development, biologics manufacturing, sterile fill-finish, analytical services and digital innovation.

Leaders participate in panel discussions at BIO

Thermo Fisher experts will participate in several sessions during the conference, including:

Securing America's Biomanufacturing Future: Industry Forums in Action – James Hulvat, General Manager, Bend, Ore. site, Pharma Services, Monday, June 22, 3 - 4 p.m., San Diego Convention Center, 111 Harbor Drive, San Diego CA 92101

What it Takes to Move Innovation Forward: Accelerating the Journey from Science to Patients – Fireside Chat with the Maryland Tech Council – Daniella Cramp, President, BioProduction, Tuesday, June 23, 3 p.m., Maryland Tech Council, Pavilion 4407, San Diego Convention Center, 111 Harbor Drive, San Diego, CA 92101

Beyond Federal Funding: The New Research Rescue Mission – Todd Rudo, Chief Medical Officer, Clario, Tuesday, June 23, 4:15-5:15 p.m., San Diego Convention Center, 111 Harbor Drive, San Diego CA 92101

Bioprocessing topic – Advancing Monoclonal Antibody Manufacturing Through Integrated Process Intensification - Adam Goldstein, Sr. Director R&D, BioProduction Wednesday, June 24, 10-10:20 a.m., BPI Theater, Bioprocessing Zone, San Diego Convention Center, 111 Harbor Drive, San Diego CA 92101

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue over $45 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Gibco, Fisher Scientific, Unity Lab Services, Patheon and PPD. For more information, please visit www.thermofisher.com.

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WALTHAM, Mass.--(BUSINESS WIRE)--Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, will hold its 2026 Investor Day on Wednesday, May 20, 2026, starting at 9:00 a.m. ET in New York City.

The format will feature presentations by members of Thermo Fisher Scientific’s senior management team and conclude with a Q&A session.

The live webcast of the presentation can be accessed via the Investors section of our website, https://ir.thermofisher.com. A replay of the webcast will be available following the presentation.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue over $45 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. For more information, please visit www.thermofisher.com.

More News From Thermo Fisher Scientific Inc.

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On May 04, 2026, we present a detailed DCF analysis for Thermo Fisher Scientific Inc TMO , a company that has experienced a price decline of 18.9% year-to-date, despite a 12.2% increase over the past year. This analysis will explore the intrinsic value of TMO based on both earnings and free cash flow models, providing insights into its current valuation status.

DCF Earnings-based intrinsic value of $477.60 vs current price of $469.21 (margin of safety: 1.8%) DCF FCF-based intrinsic value of $333.59 vs current price (second opinion: modestly overvalued) GF Score™ of 87/100 indicates high reliability of the DCF inputs What Is TMO Worth? DCF Earnings-Based Model The DCF earnings-based model for TMO utilizes a two-stage approach to estimate the intrinsic value of the stock. The first stage considers a high growth phase over the next ten years, while the second stage accounts for a terminal growth phase. Below are the assumptions used in this model:

Parameter Value Current EPS (TTM, excl. non-recurring) $23.16 10-Year Growth Rate 13.8% 10-Year Treasury Rate 4.37% Discount Rate (ceil(Treasury) + 6%) 11% Terminal Growth Rate 4% The growth phase (Years 1-10) assumes an annual EPS growth of 13.8%, which is then discounted at a rate of 11%. The terminal phase (Years 11-20) assumes a slowdown to a 4% growth rate, also discounted at 11%. The calculation summary is as follows:

Stage Description Value Growth Stage (Years 1-10) EPS growing at 13.8%, discounted at 11% $266.29 Terminal Stage (Years 11-20) 4% terminal growth, discounted at 11% $211.31 Intrinsic Value Growth + Terminal $477.60 Comparing the current price of $469.21 with the intrinsic value of $477.60 indicates that TMO is fairly valued, with a margin of safety of 1.8%. It's important to note that GuruFocus uses EPS excluding non-recurring items, as research shows stock prices correlate more closely with earnings than free cash flow. For further calculations, visit the TMO DCF Calculator.

What Does the Free Cash Flow DCF Say? The free cash flow (FCF) based intrinsic value for TMO is calculated at $333.59. When comparing this to the earnings-based intrinsic value of $477.60, there is a significant discrepancy. The FCF model suggests that TMO is modestly overvalued, with a margin of safety of -40.6%. This divergence highlights the importance of considering multiple valuation perspectives when assessing a stock's worth.

How Does GF Value™ Compare to the DCF Models? The GF Value™ for TMO is calculated at $577.76, providing a third perspective on the company's valuation. GF Value™ is GuruFocus' proprietary measure that takes into account historical trading multiples, past business growth, and future performance estimates. While the earnings-based DCF suggests fair valuation, the FCF model indicates modest overvaluation, and the GF Value™ suggests that TMO is undervalued. This divergence among the three models underscores the complexity of valuation assessments. For more information, visit the GF Value™ page.

What Does TMO's GF Score™ Tell Us? The GF Score™ ranks stocks from 0 to 100 based on five key aspects: Financial Strength, Profitability, Growth, Valuation, and Momentum. Stocks with higher GF Score™ values have been found to generate higher long-term returns (backtested 2006-2021). Below is the breakdown of TMO's GF Score™:

Metric Rating GF Score™ 87/100 Financial Strength 5/10 Profitability 8/10 Growth 7/10 Valuation 8/10 Momentum 7/10 With a predictability rank of 0/5 stars, TMO's DCF model is less reliable, indicating that investors should exercise caution when relying solely on this analysis. For more details, visit the TMO stock page.

Key Assumptions and Limitations It is essential to recognize that DCF models are highly sensitive to growth rate and discount rate assumptions. Stocks with low predictability ratings, such as TMO, produce less reliable DCF estimates. Additionally, the terminal growth rate of 4% is a simplifying assumption that may not reflect actual future performance.

What This Means for Investors In synthesizing the three valuation models—DCF earnings, DCF FCF, and GF Value™—the consensus indicates that TMO is fairly valued based on the earnings model, modestly overvalued according to the FCF model, and undervalued from the GF Value™ perspective. Overall, investors should consider these varied insights before making investment decisions. For the full DCF analysis, visit the TMO DCF Calculator. You can also explore the GF Value™ page, or use the GuruFocus Stock Screener to find undervalued predictable companies.

Frequently Asked Questions What is TMO's intrinsic value based on DCF?

According to the DCF analysis, the earnings-based intrinsic value is $477.60, while the FCF-based intrinsic value is $333.59.

Is TMO overvalued or undervalued?

The DCF earnings model suggests TMO is fairly valued, while the FCF model indicates it is modestly overvalued. The GF Value™ suggests it is undervalued.

How reliable is the DCF model for TMO?

The predictability rank for TMO is 0/5 stars, indicating that the DCF model may not be very reliable for this stock.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Have you evaluated the performance of Thermo Fisher Scientific's (TMO - Free Report) international operations during the quarter that concluded in March 2026? Considering the extensive worldwide presence of this maker of scientific instrument and laboratory supplies, analyzing the patterns in international revenues is crucial for understanding its financial resilience and potential for growth.

In the current era of a tightly interconnected global economy, the proficiency of a company to penetrate international markets significantly influences its financial health and trajectory of growth. For investors, the key is to grasp how reliant a company is on overseas markets, as this provides insights into the durability of its earnings, its ability to exploit different economic cycles, and its overall growth capabilities.

Being present in international markets serves as a counterbalance to domestic economic challenges while offering chances to engage with more rapidly evolving economies. However, this kind of diversification introduces challenges like currency fluctuations, geopolitical uncertainties and varying market trends.

While delving into TMO's performance for the past quarter, we observed some fascinating trends in the revenue from its foreign segments that are commonly modeled and observed by analysts on Wall Street.

The company's total revenue for the quarter amounted to $11.01 billion, showing rise of 6.2%. We will now explore the breakdown of TMO's overseas revenue to assess the impact of its international operations.

Unveiling Trends in TMO's International RevenuesOther regions generated $372 million in revenues for the company in the last quarter, constituting 3.4% of the total. This represented a surprise of -1.48% compared to the $377.57 million projected by Wall Street analysts. Comparatively, in the previous quarter, Other regions accounted for $462 million (3.8%), and in the year-ago quarter, it contributed $337 million (3.3%) to the total revenue.

During the quarter, Asia-Pacific contributed $1.97 billion in revenue, making up 17.9% of the total revenue. When compared to the consensus estimate of $1.94 billion, this meant a surprise of +1.44%. Looking back, Asia-Pacific contributed $2.28 billion, or 18.6%, in the previous quarter, and $1.89 billion, or 18.3%, in the same quarter of the previous year.

Of the total revenue, $2.96 billion came from Europe during the last fiscal quarter, accounting for 26.9%. This represented a surprise of +4.76% as analysts had expected the region to contribute $2.82 billion to the total revenue. In comparison, the region contributed $3.37 billion, or 27.6%, and $2.62 billion, or 25.3%, to total revenue in the previous and year-ago quarters, respectively.

International Market Revenue ProjectionsWall Street analysts expect Thermo Fisher to report $11.61 billion in total revenue for the current fiscal quarter, indicating an increase of 7% from the year-ago quarter. Other regions, Asia-Pacific and Europe are expected to contribute 3.5% (translating to $405.2 million), 18% ($2.08 billion), and 26.1% ($3.03 billion) to the total revenue, respectively.

For the full year, the company is expected to generate $47.5 billion in total revenue, up 6.6% from the previous year. Revenues from Other regions, Asia-Pacific and Europe are expected to constitute 3.4% ($1.63 billion), 17.6% ($8.36 billion) and 25.6% ($12.15 billion) of the total, respectively.

Concluding RemarksThermo Fisher's reliance on international markets for revenues offers both opportunities and risks. Hence, keeping an eye on its international revenue trends could significantly help forecast the company's prospects.

In an era of growing international ties and escalating geopolitical disputes, financial analysts on Wall Street pay keen attention to these developments to fine-tune their earnings estimations for businesses operating across borders. It's important to note, however, that a range of additional variables, like a company's local market status, also play a crucial role in shaping these forecasts.

At Zacks, we place significant importance on a company's evolving earnings outlook. This is based on empirical evidence demonstrating its strong influence on a stock's short-term price movements. Invariably, there exists a positive relationship -- an upward revision in earnings estimates is typically mirrored by a rise in the stock price.

Our proprietary stock rating tool, the Zacks Rank, with its externally validated exceptional track record, harnesses the power of earnings estimate revisions to serve as a dependable measure for anticipating the short-term price trends of stocks.

Thermo Fisher, bearing a Zacks Rank #3 (Hold), is expected to mirror the broader market's movements in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Exploring Recent Trends in Stock PriceOver the preceding four weeks, the stock's value has diminished by 4.5%, against an upturn of 10% in the Zacks S&P 500 composite. In parallel, the Zacks Medical sector, which counts Thermo Fisher among its entities, has depreciated by 0.9%. Over the past three months, the company's shares have seen a decline of 13.6% versus the S&P 500's 4.4% increase. The sector overall has witnessed a decline of 8.1% over the same period.

On May 11, 2026, we present a discounted cash flow (DCF) analysis for Thermo Fisher Scientific Inc TMO . The company has experienced a challenging price performance recently, with a year-to-date decline of 19.7%, despite a 13.6% increase over the past year. Below are key highlights from our analysis:

DCF Earnings-based intrinsic value of $477.60 compared to the current price of $465.00 (margin of safety: 2.6%) DCF Free Cash Flow (FCF)-based intrinsic value of $333.59, suggesting a second opinion on valuation GF Score™ of 87/100 indicates a strong reliability of the DCF inputs What Is TMO Worth? DCF Earnings-Based Model In our DCF earnings-based model, we assume a current earnings per share (EPS) of $23.16, with a projected growth rate of 13.8% over the next ten years. The discount rate is set at 11%, which is derived from the risk-free rate and equity risk premium. After the growth phase, we apply a terminal growth rate of 4% for the following ten years. Below is a summary of the key assumptions:

Parameter Value Current EPS (TTM, excl. non-recurring) $23.16 10-Year Growth Rate 13.8% 10-Year Treasury Rate 4.33% Discount Rate (ceil(Treasury) + 6%) 11% Terminal Growth Rate 4% The two-stage model consists of a growth phase for the first ten years, followed by a terminal phase. The calculation summary is as follows:

Stage Description Value Growth Stage (Years 1-10) EPS growing at 13.8%, discounted at 11% $266.29 Terminal Stage (Years 11-20) 4% terminal growth, discounted at 11% $211.31 Intrinsic Value Growth + Terminal $477.60 The current price of $465.00 is compared to the intrinsic value of $477.60, indicating that the stock is fairly valued with a margin of safety of 2.6%. It is important to note that GuruFocus uses EPS excluding non-recurring items, as research indicates that stock prices correlate more closely with earnings than with free cash flow. For further details, visit the TMO DCF Calculator.

What Does the Free Cash Flow DCF Say? The intrinsic value based on the Free Cash Flow (FCF) model is calculated at $333.59. When comparing this with the earnings-based intrinsic value of $477.60, we see a significant discrepancy. The FCF model suggests that TMO is modestly overvalued, with a margin of safety of -39.4%.

How Does GF Value™ Compare to the DCF Models? The GF Value™ for Thermo Fisher Scientific Inc is calculated at $576.75, providing a third perspective on valuation. GF Value™ is GuruFocus' proprietary measure that considers historical trading multiples, past business growth, and future performance estimates. The three models present differing views: the earnings-based DCF suggests fair valuation, the FCF-based model indicates modest overvaluation, while GF Value™ suggests that the stock is undervalued. For more insights, visit the GF Value™ page.

What Does TMO's GF Score™ Tell Us? The GF Score™ ranks stocks from 0 to 100 based on five key aspects: Financial Strength, Profitability, Growth, Valuation, and Momentum. Stocks with higher GF Score™ values have been found to generate higher long-term returns (backtested from 2006 to 2021). Below is a summary of TMO's GF Score™ metrics:

Metric Rating GF Score™ 87/100 Financial Strength 5/10 Profitability 8/10 Growth 7/10 Valuation 8/10 Momentum 8/10 With a predictability rating of 0/5 stars, it is important to note that higher predictability ratings generally lead to more reliable DCF estimates for stocks. For additional information, visit the TMO stock page.

Key Assumptions and Limitations It is crucial to recognize that DCF models are highly sensitive to assumptions regarding growth rates and discount rates. Stocks with low predictability ratings, such as TMO's 0/5 stars, tend to produce less reliable DCF estimates. The terminal growth rate of 4% is a simplifying assumption that may not reflect actual future performance.

What This Means for Investors In synthesizing the three valuation models—DCF earnings, DCF FCF, and GF Value™—we find that TMO presents a mixed picture. While the earnings-based DCF suggests fair valuation, the FCF model indicates modest overvaluation, and the GF Value™ suggests undervaluation. Overall, the consensus leans towards TMO being fairly valued at this time. For the full DCF analysis, visit the TMO DCF Calculator. You can also explore the GF Value™ page, or use the GuruFocus Stock Screener to find undervalued predictable companies.

Frequently Asked Questions What is TMO's intrinsic value based on DCF?

[Answer: earnings-based $477.60, FCF-based $333.59]

Is TMO overvalued or undervalued?

[Answer using DCF + GF Value™ consensus]

How reliable is the DCF model for TMO?

[Answer using predictability rank 0/5]

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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The state-of-the-art facility enhances support for complex modalities across all phases of drug development

Key facts

Thermo Fisher opens new bioanalytical and biomarker laboratory in Gothenburg, Sweden Designed to deliver comprehensive, full-service bioanalytical and biomarker solutions Supports pharmaceutical and biotechnology customers across all phases of drug development Helps customers globally accelerate innovation and bring new therapies to patients faster WALTHAM, Mass.--(BUSINESS WIRE)--Thermo Fisher Scientific, the world leader in serving science, today announced the opening of a new bioanalytical and biomarker laboratory in Gothenburg, Sweden, located within GoCo Health Innovation City. This new facility expands the company’s global bioanalytical capabilities to support pharmaceutical and biotechnology customers across all phases of drug development.

With state-of-the-art instrumentation and Good Laboratory Practice (GLP) capabilities, the laboratory provides rapid, reliable bioanalytical and biomarker services across the full drug development lifecycle, from preclinical studies through post-approval. Its advanced technology suite includes cell-based assays, immunochemistry, liquid chromatography-mass spectrometry, molecular genomics, flow cytometry and proteomics, supporting both small molecules and complex therapeutic modalities such as peptides, antibodies, oligonucleotides, and cell and gene therapies.

“Our new Gothenburg laboratory is purpose-built to address the evolving needs of modern drug development, particularly as therapies become more complex and data requirements increase,” said Leon Wyszkowski, president, analytical services, clinical research, Thermo Fisher Scientific. “By investing in advanced capabilities and strategic locations, such as Gothenburg, we are helping our customers in Europe and globally accelerate innovation and bring new therapies to patients faster.”

Thermo Fisher Scientific's PPD™ Laboratory services support clinical trials at all levels and offers integrated support through its network of bioanalytical, biomarker, GMP, vaccine sciences and central labs to enhance clinical trial and drug development efficiency. The new lab in Gothenburg complements the business’ other bioanalytical labs in Richmond, Virginia, and Suzhou, China, and it reinforces the company’s long-term commitment to the Swedish life sciences ecosystem and continued growth as a major employer and investor in the region.

Frequently Asked Questions

What does the new lab add to the life sciences industry?

The lab in Gothenburg, Sweden, expands the company’s global bioanalytical capabilities to support global pharmaceutical and biotechnology customers across all phases of drug development. Who is it designed for?

The new lab strengthens support for pharmaceutical and biotechnology customers across all phases of drug development. What problem does it solve?

The facility enhances Thermo Fisher Scientific’s ability to deliver rapid, reliable bioanalytical services from preclinical development through post-approval studies, helping customers accelerate innovation and bring new therapies to patients faster. Why does it matter?

The lab complements Thermo Fisher's existing bioanalytical laboratories in the U.S. and China while reinforcing Thermo Fisher Scientific’s long-term commitment to the Swedish life sciences ecosystem, supporting regional growth, employment, and investment. About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue over $45 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD.

More News From Thermo Fisher

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WALTHAM, Mass.--(BUSINESS WIRE)--Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today announced that its Board of Directors authorized a quarterly cash dividend of $0.47 per common share, payable on July 15, 2026, to shareholders of record as of June 15, 2026.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue over $45 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Gibco, Fisher Scientific, Unity Lab Services, Patheon and PPD. For more information, please visit www.thermofisher.com.

More News From Thermo Fisher Scientific Inc.

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On May 26, 2026, we present a DCF analysis for Thermo Fisher Scientific Inc TMO . The stock has experienced a mixed performance recently, with a year-to-date decline of 22.6%, while showing a 12.3% increase over the past year.

DCF Earnings-based intrinsic value of $477.60 vs current price of $448.28 (margin of safety: 6.1%) DCF FCF-based intrinsic value of $333.59 vs current price (second opinion: modestly overvalued) GF Score™ of 85/100 indicates strong reliability of the DCF inputs What Is TMO Worth? DCF Earnings-Based Model To determine the intrinsic value of Thermo Fisher Scientific Inc, we utilize a two-stage DCF model. The first stage considers a growth phase where earnings per share (EPS) is expected to grow at a rate of 13.8% annually for the next 10 years. The second stage accounts for a terminal growth rate of 4% for the subsequent 10 years. The discount rate applied is 11%, which is derived from the risk-free rate and equity risk premium.

Parameter Value Current EPS (TTM, excl. non-recurring) $23.16 10-Year Growth Rate 13.8% 10-Year Treasury Rate 4.48% Discount Rate (ceil(Treasury) + 6%) 11% Terminal Growth Rate 4% The calculation summary for the DCF model is as follows:

Stage Description Value Growth Stage (Years 1-10) EPS growing at 13.8%, discounted at 11% $266.29 Terminal Stage (Years 11-20) 4% terminal growth, discounted at 11% $211.31 Intrinsic Value Growth + Terminal $477.60 The current price of TMO is $448.28, which indicates that the stock is fairly valued with a margin of safety of 6.1%. It is important to note that GuruFocus uses EPS without non-recurring items because research shows stock prices correlate more closely with earnings than free cash flow. For more details, visit the TMO DCF Calculator.

What Does the Free Cash Flow DCF Say? In addition to the earnings-based DCF model, we also consider the free cash flow (FCF) DCF model, which yields an intrinsic value of $333.59. This valuation is significantly lower than the earnings-based intrinsic value of $477.60, suggesting a divergence in the two models. The FCF-based model indicates that TMO is modestly overvalued with a margin of safety of -34.4%.

How Does GF Value™ Compare to the DCF Models? The GF Value™ for Thermo Fisher Scientific Inc is $578.87, which suggests that the stock is undervalued by 22.6%. GF Value™ is GuruFocus' proprietary measure calculated from historical trading multiples, past business growth, and future performance estimates. While the earnings-based DCF model suggests fair valuation, the FCF model indicates modest overvaluation, and the GF Value™ presents a third perspective of undervaluation. For further insights, visit the GF Value™ page.

What Does TMO's GF Score™ Tell Us? The GF Score™ ranks stocks from 0 to 100 based on five key aspects: Financial Strength, Profitability, Growth, Valuation, and Momentum. Stocks with higher GF Score™ values have been found to generate higher long-term returns (backtested 2006-2021).

Metric Rating GF Score™ 85/100 Financial Strength 5/10 Profitability 8/10 Growth 7/10 Valuation 8/10 Momentum 7/10 With a predictability rank of 0/5 stars, it indicates that the DCF model may be less reliable for this stock. For more information, visit the TMO stock page.

Key Assumptions and Limitations It is essential to recognize that DCF models are highly sensitive to growth rate and discount rate assumptions. Stocks with low predictability ratings, such as TMO, produce less reliable DCF estimates. The terminal growth rate of 4% is a simplifying assumption that may not reflect future market conditions accurately.

What This Means for Investors In summary, the DCF earnings model suggests that TMO is fairly valued at $477.60, while the FCF model indicates it is modestly overvalued at $333.59. The GF Value™ further suggests that the stock is undervalued at $578.87. Overall, the consensus points towards a fair valuation of TMO. For the full DCF analysis, visit the TMO DCF Calculator. You can also explore the GF Value™ page, or use the GuruFocus Stock Screener to find undervalued predictable companies.

Frequently Asked Questions What is TMO's intrinsic value based on DCF?

Answer: earnings-based $477.60, FCF-based $333.59

Is TMO overvalued or undervalued?

Answer: The earnings-based DCF suggests fair valuation, while the FCF model indicates modest overvaluation; GF Value™ suggests undervaluation.

How reliable is the DCF model for TMO?

Answer: The predictability rank is 0/5, indicating less reliability of the DCF model for this stock.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

On May 28, 2026, Thermo Fisher Scientific Inc TMO shares rose 6.8% today, now trading at $487.22. The stock's performance remains volatile with a 52-week range between $385.46 and $643.99.

GF Value™ verdict: Current price of $487.22 is 15.9% below GF Value™ of $579.15. GF Score™ of 83/100 indicates a strong overall rating. Notable signal: Insiders sold $8.1M worth of shares in the last 3 months, indicating potential caution. Is TMO Overvalued or Undervalued? With a current price of $487.22 and a GF Value™ of $579.15, Thermo Fisher Scientific Inc is considered 15.9% undervalued, suggesting a potential opportunity for investors. The GF Valuation label indicates that the stock is modestly undervalued, presenting a margin of safety for those considering entry. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.

While the undervaluation may present an attractive entry point, the recent trend of insider selling could be a signal of caution. It’s essential for investors to weigh this against the favorable GF Value™ assessment, as it suggests there may be underlying factors influencing the stock's performance that could impact future growth or stability.

How Does TMO's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 26.8x 31.3x Forward P/E 19.6x N/A The current P/E ratio of 26.8x is significantly below its 5-year median P/E of 31.3x, implying that the stock is trading at a discount relative to its historical valuation. This aligns with the GF Value™ verdict that suggests the stock is undervalued, reinforcing the opportunity indicated by the current price.

What Does TMO's GF Score™ Tell Us? Metric Rating GF Score™ 83/100 Financial Strength 5/10 Profitability 8/10 Growth 7/10 Valuation 8/10 Momentum 5/10 The GF Score™ of 83/100 highlights Thermo Fisher Scientific Inc’s strong performance in profitability and valuation, both rated at 8/10. However, the financial strength rating of 5/10 suggests some caution regarding the company’s balance sheet. Overall, the scores indicate a solid investment prospect, but the weaker financial strength may warrant a closer examination of the company's operational stability.

What Are Insiders Doing with TMO Stock? In recent months, insiders have sold $8.1 million worth of Thermo Fisher shares, with no reported buying activity. This pattern of insider selling might imply that those closest to the company are cautious about its near-term prospects, which can be a red flag for potential investors. However, it is important to consider that insider activity can be influenced by various personal financial strategies and not necessarily reflect the company's overall performance.

What This Means for Investors Based on the analysis of GF Value™, Thermo Fisher Scientific Inc appears to be undervalued at the current price of $487.22. While the stock presents an attractive entry point given its undervaluation, the insider selling may indicate some caution, prompting a careful approach moving forward.

For the complete analysis, visit the Thermo Fisher Scientific Inc TMO stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is TMO's GF Score™?

TMO's GF Score™ is 83/100, indicating a strong overall rating based on multiple financial metrics.

Is TMO overvalued or undervalued?

TMO is currently undervalued with a GF Value™ of $579.15, suggesting a potential upside based on its intrinsic value.

What is TMO's P/E ratio?

The current P/E ratio is 26.8x, which is below its 5-year median P/E of 31.3x, indicating that the stock is trading at a discount compared to its historical valuation.

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New Orbitrap platforms, AI-enabled software and integrated workflows deliver deeper insight, more confident development decisions and stronger results across complex scientific markets

New Orbitrap Mass Spectrometer Platforms: Thermo Fisher Scientific is introducing three new Thermo Scientific™ Orbitrap™ platforms at ASMS 2026, bringing high-resolution mass spectrometry and end-to-end solutions to more decision points across research, biopharmaceutical and applied markets. AI-Enabled Technology for Faster Interpretation: New software capabilities, including Thermo Scientific™ Proteoform Studio, Thermo Scientific™ Proteome Discoverer™ 3.4, Thermo Scientific™ BioPharma Finder™ 5.5 and the acquisitions of MSAID and Proteinaceous, help laboratories speed proteomics analysis, spectral interpretation and advanced protein characterization. More Reliable Results for Regulated Contaminant Testing: New Orbitrap and targeted mass spectrometry workflows support environmental, water and food safety laboratories with high-resolution screening and reliable quantitation for dioxins, persistent organic pollutants (POPs) and emerging contaminants. WALTHAM, Mass.--(BUSINESS WIRE)--Thermo Fisher Scientific Inc., the world leader in serving science, today expanded its suite of Thermo Scientific™ Orbitrap™ mass spectrometry platforms, AI-enabled software and integrated workflows at the American Society for Mass Spectrometry (ASMS) Conference.

Across research, biopharma and applied testing, scientists face increasingly complex samples, expanding data sets and greater pressure to deliver confident answers faster. Thermo Fisher helps solve that challenge by bringing its flagship Orbitrap technology to more scientific decision points. The company’s expanded portfolio combines the depth of high-resolution accurate-mass technology with end-to-end solutions, enabling laboratories to advance discoveries, accelerate the development of new medicines and ensure more confident testing for food, air and water.

“Orbitrap technology has long set the standard for breakthrough discovery, and customers now want that same confidence across applied scientific markets,” said Ronald Tabaksblat, president, chromatography and mass spectrometry, Thermo Fisher Scientific. “At ASMS 2026, we are showcasing how Thermo Fisher is scaling Orbitrap innovation through connected platforms, software and workflows that support advanced research, drug development and applied testing with decision-ready results.”

Clearer Disease Insights in Research

The new Thermo Scientific™ Orbitrap™ Tribrid™ Apex Mass Spectrometer (MS) gives researchers a more powerful way to study challenging samples on a single platform. As Thermo Fisher’s most versatile and highest-performing Orbitrap Tribrid, the Orbitrap Tribrid Apex MS brings multiple capabilities together in one system, including three mass analyzers, a new infrared laser option for alternative fragmentation and Thermo Scientific™ Direct Mass Technology™ Mode. Together, these features help researchers get clearer answers from complex biology earlier in the discovery process. Thermo Fisher also expanded its software capabilities across proteomics, spectral analysis and advanced protein characterization:

MSAID and Proteinaceous, Thermo Fisher’s recent software acquisitions, deliver smarter proteomics workflows that speed analysis and streamline connectivity. MSAID brings AI-driven proteomics and machine learning expertise, while Proteinaceous adds top-down and native mass spectrometry bioinformatics. Thermo Scientific™ Proteoform Studio Software provides researchers with a streamlined proteomics workflow from acquisition through reporting, including Direct Mass Technology analysis for deeper characterization. Thermo Scientific™ Proteome Discoverer™ 3.4 Software helps scientists manage more proteomics workflows in one place, making it easier to analyze additional data with greater flexibility, speed and coverage. Greater Confidence in Biopharma and Pharma Drug Development

Thermo Fisher unveiled the Thermo Scientific™ Orbitrap™ Excedion™ Mass Spectrometer an Orbitrap platform designed to reduce performance tradeoffs in drug development. Built for applications ranging from drug metabolism studies to oligonucleotide and peptide analysis, the Orbitrap Excedion MS offers enhanced dynamic range (eDR) that detects three to five times more compounds in complex samples and delivers more reproducible results across larger studies. For the first time, laboratories can upgrade to Orbitrap Excedion Pro MS without replacing their instrument, which expands their analytical power while minimizing cost and disruption to ongoing work.

Thermo Fisher also introduced complementary innovations that provide biopharmaceutical development labs with a ready-made, end-to-end workflow:

Thermo Scientific™ Vanquish™ Amplify UHPLC Systems use an inert, metal-free sample flow path engineered to minimize adsorption and secondary interactions, helping scientists analyze sensitive biological molecules, such as short oligos, with less sample loss, better reproducibility and greater confidence in results from method development through QC. Thermo Scientific™ SurePac™ RP MDi™ Columns are purpose-built for oligonucleotide, mRNA and protein therapeutic analysis, helping improve recovery, separation and reproducibility under demanding conditions. Thermo Scientific™ SMART Digest™ OligoSelect™ Kit simplifies sample preparation for oligonucleotide bioanalysis with a single, streamlined workflow that reduces time and cost. Thermo Scientific™ BioPharma Finder™ 5.5 Software helps scientists process complex top-down mass spectrometry data from the latest Thermo Fisher instruments faster while maintaining consistent results. As drugs move further through development, laboratories need robust workflows for regulated bioanalysis and QA/QC. For these later-stage needs, Thermo Fisher will also showcase the Thermo Scientific™ TSQ Certis™ Triple Quadrupole Mass Spectrometer. It helps scientists accelerate drug development by measuring samples 15% faster and running more than twice as long between maintenance events for complex matrices like plasma.

Regulatory-ready Results for Food and Environmental Safety

The Thermo Scientific™ Orbitrap Exploris™ GC S Mass Spectrometer is a high-resolution gas chromatography-mass spectrometry platform designed to modernize dioxin and persistent organic pollutants (POPs) analysis for environmental and food safety laboratories. As regulations evolve and contaminant lists expand, the Orbitrap Exploris GC S MS delivers regulatory-ready, ultra-trace results with the sensitivity and resolving power needed for confident, reliable testing. With more than twice the resolution of many existing systems, it also helps laboratories identify emerging contaminants without additional instruments, saving time and reducing complexity in high-stakes public health or environmental testing.

Thermo Fisher will also showcase the Thermo Scientific™ Orbitrap Exploris™ EFOX Mass Detector for high-resolution screening of PFAS, pesticides and related contaminants, alongside the Thermo Scientific™ TSQ Altis™ Plus EFOX Triple Quadrupole Mass Spectrometer for reliable, high-throughput quantitation. Together with application expertise and service, these systems help environmental, water and food safety laboratories detect known and emerging contaminants faster, respond to potential risks sooner and make more confident public health decisions.

For more information about the newest end-to-end mass spectrometry solutions available at ASMS, please visit www.thermofisher.com/ASMS.

Instruments are for general lab use only. Not for diagnostic purposes.

FAQs
What is Thermo Fisher Scientific announcing at ASMS 2026?
Thermo Fisher Scientific announced new Orbitrap mass spectrometry platforms, AI-enabled software and end-to-end workflows for research, biopharma and applied market scientists. The portfolio includes new solutions for complex biology research, drug development and environmental and food safety testing.

What are the key Orbitrap innovations highlighted at ASMS 2026?
The key Orbitrap innovations highlighted at ASMS 2026 are the Thermo Scientific™ Orbitrap Tribrid™ Apex Mass Spectrometer, the Thermo Scientific™ Orbitrap Excedion™ Mass Spectrometer and the Thermo Scientific™ Orbitrap Exploris™ GC S Mass Spectrometer. Thermo Fisher also showcased the Thermo Scientific™ TSQ Certis™ Triple Quadrupole Mass Spectrometer, Thermo Scientific™ Orbitrap Exploris™ EFOX Mass Detector and Thermo Scientific™ TSQ Altis™ Plus EFOX Triple Quadrupole Mass Spectrometer along with AI-enabled software and supporting workflow solutions for research, biopharma and applied testing.

How do these innovations help customers accelerate science and decision-making?
These innovations help customers reduce tradeoffs, simplify complex analysis and deliver clearer, more actionable results across research, drug development and environmental testing. They enable scientists to generate deeper biological insight, make more confident development decisions and deliver faster, regulatory-ready contaminant testing.

About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue over $45 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Gibco, Fisher Scientific, Unity Lab Services, Patheon and PPD. For more information, please visit www.thermofisher.com.