Thermo Fisher Scientific Inc.

TMO

522.57 (0.45%) 2.35

199.88(B)

Health Care

Life Sciences Tools and Services

Thermo Fisher Scientific Inc. provides life sciences solutions analytical instruments specialty diagnostics and laboratory products and biopharma services in the North America Europe Asia-Pacific and internationally. The company’s Life Sciences Solutions segment offers reagents instruments and consumables for biological and medical research discovery and production of drugs and vaccines as well as diagnosis of infections and diseases; and solutions include biosciences genetic sciences and bio production to pharmaceutical biotechnology agricultural clinical healthcare academic and government markets. Its Analytical Instruments segment provides instruments consumables software and services for pharmaceutical biotechnology academic government environmental and other research and industrial markets as well as clinical laboratories. The company’s Specialty Diagnostics segment offers liquid ready-to-use and lyophilized immunodiagnostic reagent kits as well as calibrators controls protein detection assays and instruments; immunodiagnostics develops manufactures and markets complete bloodtest systems to support the clinical diagnosis and monitoring of allergy asthma and autoimmune diseases; dehydrated and prepared culture media collection and transport systems instrumentation and consumables; human leukocyte antigen typing and testing for organ transplant market; and healthcare products. Its Laboratory Products and Biopharma Services segment provides laboratory products research and safety market channel and pharma services and clinical research. It offers products and services through a direct sales force customer-service professionals electronic commerce and third-party distributors under Thermo Scientific; Applied Biosystems; Invitrogen; Fisher Scientific; Unity Lab Services; and Patheon and PPD. It has a collaboration agreement with Mainz Biomed N.V. for the development of colorectal cancer screening product. Thermo Fisher Scientific Inc. was founded in 1956 and is headquartered in Waltham Massachusetts.

Holdings:

Cost basis:

Thermo Fisher Scientific Inc. (TMO) price target and intrinsic value estimate

TMO's fair price estimate is $438.0

This valuation is based on a fair P/E of 19.8 and EPS estimates of $22.09

The median analyst price target for TMO is $650.0.

Analyst price targets range from $585.2 to $767.0

Is TMO overvalued or undervalued?

TMO is currently trading at $522.57

TMO is overvalued by 19% using the pevaluation method.

TMO is undervalued by 20% compared to median analyst price targets.

Do you agree with this valuation?

Valuation

PEvaluation

Low $328.5

Median $438.0

High $547.4

Fair P/E

Margin of safety

Analyst valuation

Low $585.2

Median $650.0

High $767.0

Strong Buy8

Buy17

Hold7

Sell0

Strong Sell0

Discounted cash-flow

TTM FCFFCF est.Growth FCFTerminal FCF

Discount rate:

10%

Terminal rate:

Growth phase length:

Growth phase rate:

10%

Economic moat: Medium

Overview

Market data

Market cap:$199.88(B)

Enterprise value:$225.51(B)

Total Equity:$49.10(B)

Shares outstanding:382.50(M)

Div. yield:0.29%

P/S:4.72

P/E:32.62

P/FCF:25.70

P/B:4.08

EPS:$16.0

FCF per share:$20.3

Dividend per share:$1.5

Income (TTM)

Revenue$42.37(B)

Gross profit$17.24(B)

EBITDA$10.58(B)

Net income$6.13(B)

Gross margin40.7%

Net margin14.5%

Balance sheet

Total assets$100.36(B)

Total liabilities$51.27(B)

Cash & Short-term inv.$6.64(B)

Long-term debt$31.20(B)

Debt issued$3.68(B)

Debt repaid$-4.89(B)

Cash flow (TTM)

FCF$7.78(B)

CapEx$-1.32(B)

Dividends paid$-570.00(M)

Stock issued$0

Stock repurchased$-3.00(B)

Stock-based comp.$283.00(M)

Future Growth

Revenue

CAGR: 5.9%

FY+1$42.81(B)

FY+2$45.00(B)

FY+3$48.30(B)

FY+4$51.27(B)

FY+5$53.81(B)

Net Income

CAGR: 10.1%

FY+1$8.31(B)

FY+2$8.87(B)

FY+3$9.81(B)

FY+4$11.04(B)

FY+5$12.22(B)

EPS

CAGR: 11.9%

FY+1$21.70

FY+2$23.44

FY+3$26.15

FY+4$30.01

FY+5$33.98

FCF per share

CAGR: 12.7%

FY+1$22.78

FY+2$26.05

FY+3$28.92

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Historical Financials

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YearlyQuarterly

Income

RevenueNet IncomeCOGSGross ProfitTotal OpEx.R&DSG&AOperating IncomeInterest ExpenseInterest IncomePre-tax incomeIncome tax

Cash flow

FCFCFONet IncomeD&AStock-based Comp.CFFStock IssuedStock RepurchasedDebt IssuedDebt RepaidDividend PaidCFIAcquisitionsDivestituresCapital Expenditures

Balance sheet

Total AssetsTotal LiabilitiesCurrent assetsCash and EquivalentsShort-term investmentsInventoriesReceivablesNon-current assetsNet PP&EGoodwillCurrent liabilitiesAccounts payableNon-current liabilitiesLong-Term DebtTotal Equity

Shares outstanding

Shares (Basic)Shares (Diluted)

Per share data

EPS (Basic)EPS (Diluted)FCF/ShareDividend/ShareBook value/Share

Ratios

P/EP/FCFP/BP/SEV/EarningsEV/FCFDebt/EquityPayout ratio

Margins

Net Income MarginOperating MarginGross MarginEBITDA MarginFCF Margin

Returns

ROICROAROCEROE

Market Cap.